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Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Forward Exchange Contracts not Designated as Hedging Instruments

The fair values of foreign exchange contracts are summarized below:

			Year Ended December 31,
			2020						2019
			(Amounts in thousands)
Current derivative assets			$	2,857					$	892
Noncurrent derivative assets			249						15
Current derivative liabilities			682						3,418
Noncurrent derivative liabilities			—						8

Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments

The impact of net changes in the fair values of foreign exchange contracts are summarized below:

			Year Ended December 31,
			2020						2019						2018
			(Amounts in thousands)
Loss recognized in income			$	(10,294)					$	(6,495)					$	(3,154)

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The cumulative net investment hedge loss, net of deferred taxes, under cross-currency swap recorded in accumulated other comprehensive loss ("AOCL") on our consolidated balance sheet are summarized below:

			Year Ended December 31,
			2020						2019						2018
			(Amounts in thousands)
Loss recognized in AOCL			$	(13,836)					$	—					$	—

The cumulative impact recorded in AOCL on our consolidated balance sheet from the change in carrying value due to the remeasurement of the effective portion of the net investment hedge are summarized below:

			Year Ended December 31,
			2020						2019						2018
			(Amounts in thousands)
Loss recorded in AOCL			(34,973)						(12,084)						(17,164)

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998890-113959

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