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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

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

DERIVATIVE INSTRUMENT(1)						DECEMBER 31, 2021						DECEMBER 31, 2020
Cash Flow Hedges(2)
Interest Rate Swap Agreements						$	(7,680)					$	(21,062)
Net Investment Hedges(3)
August 2023 Cross Currency Swap Agreements						(664)						(8,229)
February 2026 Cross Currency Swap Agreements						11,021						(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 (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Consolidated Balance Sheets. As of December 31, 2021, $11,021 is included within Other assets, $2,082 is included within Accrued expense and other current liabilities and $6,262 is included within Other long-term liabilities. As of December 31, 2020, $49,703 is included within Other long-term liabilities.

(2)As of December 31, 2021, cumulative net losses of $7,680 are recorded within Accumulated other comprehensive items, net associated with these interest rate swap agreements.

(3)As of December 31, 2021, cumulative net gains of $10,357 are recorded within Accumulated other comprehensive items, net associated with these cross currency swap agreements.

Schedule of (Gains) Losses For Derivative Instruments

Gains (losses) recognized during the years ending December 31, 2021, 2020 and 2019, by derivative instrument, are as follows:

						YEAR ENDED DECEMBER 31,
DERIVATIVE INSTRUMENT						2021						2020						2019
Derivative Instruments Designated as Hedging Instruments(1)
Cash Flow Hedges
Interest Rate Swap Agreements						$	13,382					$	(12,288)					$	(7,801)
Net Investment Hedges
August 2023 Cross Currency Swap Agreements						7,565						(7,247)						(982)
February 2026 Cross Currency Swap Agreements						31,433						(20,412)						—
Derivative Instruments Not Designated as Hedging Instruments(2)
Foreign Exchange Currency Forward Contracts						—						—						(737)

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

(2)These amounts are recognized as foreign exchange gains (losses), a component of Other (income) expense, net. Net cash receipts (payments) included in cash from operating activities related to settlements associated with foreign currency forward contracts for the years ended December 31, 2021, 2020 and 2019 are $0, $0 and $(737), respectively.

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

As a result, we recorded the following foreign exchange gains (losses) 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,
			2021						2020						2019
Foreign exchange gains (losses) associated with net investment hedge			$	—					$	(17,005)					$	(6,003)

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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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