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Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments and the balance sheet lines in which they are recorded

The following table sets forth the fair values of derivative instruments held by the Company as of December 31, 2020 and 2019 and the balance sheet lines in which they are recorded:

			Fair Value Asset (Liability)
			December 31, 2020						December 31, 2019						Balance Sheet Caption
Foreign currency forward			$	2,325					$	2,892					Prepaid and other current assets
Foreign currency forward			(2,057)						(476)						Other accrued expenses

Amounts recognized in other comprehensive earnings

Amounts recognized in other comprehensive earnings (loss) for the gains (losses) on its net investment hedges were as follows:

			2020						2019						2018
(Loss) gain on euro-denominated debt			$	(119,298)					$	22,449					$	45,230
Tax benefit (expense)			26,957						(4,714)						(9,498)
Net (loss) gain on net investment hedges, net of tax			$	(92,341)					$	17,735					$	35,732

Assets and liabilities measured at fair value on a recurring basis

The Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019 were as follows:

									December 31, 2020												December 31, 2019
									Level 2																		Level 2
Assets:
Foreign currency cash flow hedges									$	2,325																	$	2,892
Liabilities:
Foreign currency cash flow hedges									2,057																		476

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- References

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- 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 http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4CCC
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998896-113959

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