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Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2022
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 September 30, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded:
| Fair Value Asset (Liability) |  |
| September 30, 2022 |  | December 31, 2021 |  | Balance Sheet Caption
Foreign currency forward | $ | 3,866 |  |  | $ | 2,825 |  |  | Prepaid and other current assets
Foreign currency forward | (5,377) |  |  | (433) |  |  | Other accrued expenses
Schedule of Other Comprehensive Earnings for the Gains (Losses) on Net Investment Hedges | Amounts recognized in other comprehensive earnings for the gains on net investment hedges were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Gain on euro-denominated debt | $ | 94,731 |  |  | $ | 24,032 |  |  | $ | 179,221 |  |  | $ | 51,571 |
Tax expense | (21,020) |  |  | (5,446) |  |  | (39,990) |  |  | (11,669) |
Net gain on net investment hedges, net of tax | $ | 73,711 |  |  | $ | 18,586 |  |  | $ | 139,231 |  |  | $ | 39,902 |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021:
|  |  | September 30, 2022 |  |  |  | December 31, 2021
|  |  | Level 2 |  |  |  |  |  | Level 2 |  |
Assets: |  |  |  |  |  |  |  |  |  |  |
Foreign currency cash flow hedges |  |  | $ | 3,866 |  |  |  |  |  |  | $ | 2,825 |  |  |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Foreign currency cash flow hedges |  |  | 5,377 |  |  |  |  |  |  | 433 |  |  |

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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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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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 https://asc.fasb.org/extlink&oid=125515794&loc=SL109998896-113959 + Details
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