XML 53 R42.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Hedging Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
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 September 30, |  | Nine Months Ended September 30,
|  |  |  | 2022 |  | 2021 |  | 2022 |  | 2021
Financial statement line items in which effects of cash flow hedges are recorded |  | Cost of revenue |  | $ | 335,035 |  |  | $ | 337,500 |  |  | $ | 1,019,345 |  |  | $ | 981,259 |
Foreign exchange contracts |  |  |  |  |  |  |  |  |  |
Amount of gain (loss) reclassified from accumulated other comprehensive income into income |  |  |  | $ | 8,635 |  |  | $ | (1,583) |  |  | $ | 16,652 |  |  | $ | (6,728) |
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
|  |  |  | September 30, 2022 |  | December 31, 2021
Derivatives and non-derivatives designated as hedging instruments |  | Balance Sheet Classification |  |  |  |
Foreign currency exchange contracts |  | Other current assets |  | $ | 22,331 |  |  | $ | 6,512 |
Cross currency swaps |  | Other current assets |  | 15,994 |  |  | — |
Foreign currency exchange contracts |  | Other long-term assets |  | 3,920 |  |  | — |
Cross currency swaps |  | Other long-term assets |  | 2,162 |  |  | 4,256 |
Total derivative instruments presented as hedge instruments on the balance sheet |  |  |  | 44,407 |  |  | 10,768 |
Gross amounts subject to master netting arrangements not offset on the balance sheet |  |  |  | — |  |  | (601) |
Net amount |  |  |  | $ | 44,407 |  |  | $ | 10,167 |
(in thousands) |  |  |  | Hedging Liabilities
|  |  |  | September 30, 2022 |  | December 31, 2021
Derivatives and non-derivatives designated as hedging instruments |  | Balance Sheet Classification |  |  |  |
Foreign currency exchange contracts |  | Accrued liabilities |  | $ | — |  |  | $ | 601 |
Total derivative instruments presented as cash flow hedges on the balance sheet |  |  |  | — |  |  | 601 |
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet (1) |  | Long-term debt |  | 86,245 |  |  | 100,711 |
Total hedging instruments presented on the balance sheet |  |  |  | 86,245 |  |  | 101,312 |
Gross amounts subject to master netting arrangements not offset on the balance sheet |  |  |  | — |  |  | (601) |
Net amount |  |  |  | $ | 86,245 |  |  | $ | 100,711 |
(1) Amounts represent reported carrying amounts of our foreign currency-denominated debt. Refer to “Note 18. Fair Value Measurements” for information regarding the fair value of our long-term debt.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration