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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(Liabilities) assets recognized in our Condensed Consolidated Balance Sheets at March 31, 2021 and December 31, 2020, by derivative instrument, are as follows:

DERIVATIVE INSTRUMENTS(1)						MARCH 31, 2021						DECEMBER 31, 2020
Cash Flow Hedges(2)
Interest Rate Swap Agreements						$	(16,861)					$	(21,062)
Net Investment Hedges(3)
August 2023 Cross Currency Swap Agreements						(3,478)						(8,229)
February 2026 Cross Currency Swap Agreements						(14,158)						(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 Condensed Consolidated Balance Sheets.

(2)As of March 31, 2021, cumulative net losses of $16,861 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements.

(3)As of March 31, 2021, cumulative net losses of $17,636 are recorded within Accumulated other comprehensive items, net associated with these cross-currency swap agreements.

Schedule of (Gains) Losses For Derivative Instruments

Unrealized gains (losses) recognized during the three months ended March 31, 2021 and 2020, by derivative instrument, are as follows:

						THREE MONTHS ENDED MARCH 31,
DERIVATIVE INSTRUMENTS(1)						2021						2020
Cash Flow Hedges
Interest Rate Swap Agreements						$	4,201					$	(14,732)
Net Investment Hedges
August 2023 Cross Currency Swap Agreements						4,751						6,370
February 2026 Cross Currency Swap Agreements						6,254						—

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

Schedule of Net Investment Hedges in AOCI

Foreign exchange gains (losses) associated with this hedge of net investment for the three months ended March 31, 2021 and 2020 are as follows:

						THREE MONTHS ENDED MARCH 31,
						2021						2020
Foreign exchange gains (losses) associated with net investment hedge						$	—					$	6,453

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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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