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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

(Liabilities) assets recognized in our Consolidated Balance Sheets as of December 31, 2020 and 2019 by derivative instrument are as follows:

DERIVATIVE INSTRUMENT(1)						DECEMBER 31, 2020						DECEMBER 31, 2019
Cash Flow Hedges(2)
Interest Rate Swap Agreements						$	(21,062)					$	(8,774)
Net Investment Hedges(3)
August 2023 Cross Currency Swap Agreements						(8,229)						(982)
February 2026 Cross Currency Swap Agreements						(20,412)						—

(1)Our derivative assets are included as a component of Other within Other assets, net and our derivative liabilities are included as a component of Other long-term liabilities in our Consolidated Balance Sheets.

(2)As of December 31, 2020, cumulative net losses of $21,062 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements.

(3)As of December 31, 2020, cumulative net losses of $28,641 are recorded within Accumulated other comprehensive items, net associated with these cross currency swap agreements.

Schedule of (Gains) Losses For Derivative Instruments

Losses (gains) recognized during the years ending December 31, 2020, 2019 and 2018, by derivative instrument, are as follows:

						YEAR ENDED DECEMBER 31,
DERIVATIVE INSTRUMENT						2020						2019						2018
Derivative Instruments Designated as Hedging Instruments(1)
Cash Flow Hedges
Interest Rate Swap Agreements						$	12,288					$	7,801					$	973
Net Investment Hedges
August 2023 Cross Currency Swap Agreements						7,247						982						—
February 2026 Cross Currency Swap Agreements						20,412						—						—
Derivative Instruments Not Designated as Hedging Instruments(2)
Foreign Exchange Currency Forward Contracts						—						737						4,954

(1)These amounts are recognized as unrealized losses (gains), a component of Accumulated other comprehensive items, net.

(2)These amounts are recognized as foreign exchange losses (gains), a component of Other expense (income), net. Net cash payments (receipts) included in cash from operating activities related to settlements associated with foreign currency forward contracts for the years ended December 31, 2020, 2019 and 2018 are $0, $737 and $5,797, respectively.

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

As a result, we recorded the following foreign exchange losses (gains) related to the change in fair value of such debt due to currency translation adjustments as a component of Accumulated other comprehensive items, net:

			YEAR ENDED DECEMBER 31,
			2020						2019						2018
Foreign exchange losses (gains) associated with net investment hedge			$	17,005					$	6,003					$	11,070

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

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