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DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative [Line Items]  
Fair Value Carrying Amount of Derivatives
The fair value carrying amounts of the Company’s derivatives, as classified within the fair value hierarchy, were as follows:
Balance Sheet LocationJune 30, 2021December 31, 2020
Derivatives designated as hedging instruments:
Asset Derivatives - Level 2 (1)
Other current assets$8,338 $6,268 
Other assets2,433 3,148 
Subtotal$10,771 $9,416 
Liability Derivatives - Level 2 (1)
Accounts payable and accrued liabilities$10,392 $17,551 
Other long-term liabilities2,895 11,020 
Subtotal$13,287 $28,571 
Derivatives not designated as hedging instruments:
Asset Derivatives - Level 2 (1)
Other current assets$1,932 $84 
Liability Derivatives - Level 2 (1)
Accounts payable and accrued liabilities$642 $247 
Total Derivatives Assets$12,703 $9,500 
Total Derivatives Liabilities$13,929 $28,818 
(1)    For additional discussion of fair value measurements, see Note 3 – Summary of Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Summary of Impact of Gains and Losses from Derivatives Designated as Hedging Instruments The following tables summarize the impact of gains and losses from the Company's derivatives on its Condensed Consolidated Statements of Comprehensive Income (Loss) for the periods presented.
Three Months Ended June 30,
20212020
Derivatives Designated as Cash Flow Hedging InstrumentsCash Flow Hedging Gains (Losses)
Reclassified into Earnings		Cash Flow Hedging Gains (Losses)
Reclassified into Earnings
Net product revenues as reported$486,670 $(2,678)$419,032 $8,279 
Operating expenses as reported$490,021 $344 $470,430 $(1,786)
Derivatives Not Designated as Hedging InstrumentsGains (Losses) Recognized in EarningsGains (Losses) Recognized in Earnings
Operating expenses$(3,260)$1,729 
Six Months Ended June 30,
20212020
Derivatives Designated as Cash Flow Hedging InstrumentsCash Flow Hedging Gains (Losses)
Reclassified into Earnings		Cash Flow Hedging Gains (Losses)
Reclassified into Earnings
Net product revenues as reported$954,439 $(5,435)$908,075 $14,608 
Operating expenses as reported$950,965 $349 $867,538 $(3,459)
Derivatives Not Designated as Hedging InstrumentsGains (Losses) Recognized in EarningsGains (Losses) Recognized in Earnings
Operating expenses$1,009 $5,538 
Derivatives Designated As Hedging Instruments  
Derivative [Line Items]  
Summary of Derivatives Designated as Hedging Instruments Outstanding
The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented.
Foreign Exchange ContractsJune 30, 2021December 31, 2020
Derivatives designated as hedging instruments:
Sell$624,409 $782,327 
Purchase$165,922 $189,540 
Derivatives not designated as hedging instruments:
Sell$148,629 $98,343 
Purchase$92,944 $12,277