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Hedging Instruments (Tables)
 3 Months Ended
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Details of net investment hedges and Income Statement impact of hedging instruments
The following tables present the effect of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provide information regarding the location and amounts of pretax gains or losses of derivatives: 

(in thousands) Three Months Ended March 31,
 20212020
Financial statement line items in which effects of cash flow hedges are recordedCost of revenue$306,925 $266,746 
Foreign exchange contracts
Amount of (loss) gain reclassified from accumulated other comprehensive income into income$(2,430)$1,341 
Schedule of hedging instruments
The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following derivative instruments, unless otherwise noted: 
(in thousands) Hedging Assets
 March 31, 2021December 31, 2020
   
Derivatives and non-derivatives designated as hedging instrumentsBalance Sheet Classification  
Foreign currency exchange contractsOther current assets$1,595 $125 
Cross currency swapsOther long-term assets1,510 — 
Foreign currency exchange contractsOther long-term assets628 — 
Total derivative instruments presented as hedge instruments on the balance sheet3,733 125 
Gross amounts subject to master netting arrangements not offset on the balance sheet(2,223)(125)
Net amount $1,510 $— 

(in thousands) Hedging Liabilities
 March 31, 2021December 31, 2020
   
Derivatives and non-derivatives designated as hedging instrumentsBalance Sheet Classification  
Foreign currency exchange contracts Accrued liabilities$6,863 $12,373 
Cross currency swapsOther long-term liabilities— 2,841 
Foreign currency exchange contractsOther long-term liabilities34 — 
Total derivative instruments presented as cash flow hedges on the balance sheet6,897 15,214 
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet(1)
Long-term debt104,327 109,125 
Total hedging instruments presented on the balance sheet111,224 124,339 
Gross amounts subject to master netting arrangements not offset on the balance sheet(2,223)(125)
Net amount $109,001 $124,214 
(1) Amounts represent reported carrying amounts of our foreign currency denominated debt. See “Note 17. Fair Value Measurements” for information regarding the fair value of our long-term debt.