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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table reflects the fair value amounts for designated and non-designated hedging instruments at September 30, 2022 and December 31, 2021 (in thousands):

			September 30, 2022												December 31, 2021
			Fair Value Derivative Assets(i)						Fair Value Derivative Liabilities(ii)						Fair Value Derivative Assets(i)						Fair Value Derivative Liabilities(ii)
Designated hedging instruments
Foreign currency forward contracts			$	—					$	3,797					$	1,405					$	52
Interest Rate Swaps			5,597						—						—						1,992
Non-designated hedging instruments
Foreign currency forward contracts			—						470						204						—
Interest Rate Swaps			2,627						—						—						5,733
Total fair value of hedging instruments			$	8,224					$	4,267					$	1,609					$	7,777

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(i)Included in prepaid expenses and other current assets, and other assets on the condensed consolidated balance sheets.

(ii)Included in accrued and other liabilities on the condensed consolidated balance sheets.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The before-tax effects of derivative instruments designated as cash flow hedges on the accumulated other comprehensive income and condensed consolidated statements of operations for the periods indicated below are as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Amount of (loss) gain recognized in other comprehensive loss(i)			$	(1,754)					$	402					$	4,223					$	577
Amount of (loss) gain related to foreign exchange forward contracts reclassified from accumulated other comprehensive income (loss) into income(ii)			$	(784)					$	688					$	(311)					$	2,861
Amount of gain (loss) related to interest rate swaps reclassified from accumulated other comprehensive loss into income as interest expense			$	2,180					$	(5,913)					$	(491)					$	(16,981)

_____________

(i)The before-tax loss of $(2,469) related to foreign exchange forward contracts and before-tax gain of $715 related to interest rate swaps were recognized in other comprehensive income (loss) during the three months ended September 30, 2022. The before-tax gain of $1,148 related to foreign exchange forward contracts and before-tax loss of $(746) related to interest rate swaps were recognized in other comprehensive income (loss) during the three months ended September 30, 2021.The before-tax loss of $(5,459) related to foreign exchange forward contracts and before-tax gain of $9,682 related to interest rate swaps were recognized in other comprehensive income (loss) during the nine months ended September 30, 2022.The before-tax gain of $1,445 related to foreign exchange forward contracts and before-tax loss of $(868) related to interest rate swaps were recognized in other comprehensive income (loss) during the nine months ended September 30, 2021.

(ii)For the three months ended September 30, 2022, the before-tax losses of $(176) and $(608) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. For the three months ended September 30, 2021, the before-tax gains of $131 and $557 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. For the nine months ended September 30, 2022, the before-tax losses of $(67) and $(244) were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations. For the nine months ended September 30, 2021, the before-tax gain of $544 and $2,317 were included in cost of service revenues and operating expenses, primarily research and development expense, respectively, on the condensed consolidated statements of operations.

Schedule of Derivative Instruments, Gain (Loss)

The before-tax gain (loss) recognized in other income (expense), net for non-designated foreign currency forward contracts and interest rate swaps for the periods indicated below are as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Gain (Loss) recognized in other income (expense), net (i)			$	124					$	(26)					$	5,444					$	(209)

_____________

(i)Gain (loss) recognized in other income (expense), net includes the debt component of restructured interest rate swap treated as a hybrid instrument.

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- References

No definition available.

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
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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
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