XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.21.1

Derivative Financial Instruments | 3 Months Ended
--- | ---
Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments As part of our currency exchange rate risk management strategy, we may enter into certain derivative foreign currency forward contracts that do not meet the U.S. GAAP criteria for hedge accounting, but which have the impact of partially offsetting certain foreign currency exposures. We account for these forward contracts at fair value and report the related gains or losses in currency exchange (gains) losses, net, in the unaudited Condensed Consolidated Statement of Income. The notional amount of open forward contracts was $94.3 million and $96.0 million at March 31, 2021, and December 31, 2020, respectively. The following table presents the unaudited Condensed Consolidated Balance Sheet location and fair value of assets and liabilities associated with derivative financial instruments:
(In thousands) |  | March 31, 2021 |  | December 31, 2020
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange contracts: Warranty reserve and other current liabilities |  | $ | 1,039 |  |  | $ | 157 |
Foreign exchange contracts: Prepaid expenses and other current assets |  | 52 |  |  | 160 |
The following table presents the unaudited Condensed Consolidated Statement of Income location and impact of derivative financial instruments:
|  |  |  | Loss Recognized in Income
|  |  |  | Three Months Ended March 31,
(In thousands) |  | Statement of Income Location |  | 2021 |  | 2020
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange contracts |  | Currency exchange (gains) losses, net |  | $ | 3,388 |  |  | $ | 376 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration