XML 57 R44.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Derivative Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Derivative Results | The following table presents the fair value of the derivative financial instruments within “Other assets” and “Accounts payable and accrued expenses” as of December 31, 2021 and 2020 (in thousands):
|  | Derivative Assets |  | Derivative Liabilities |  |
|  | As of December 31, |  | As of December 31, |  |  |  |
|  | 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
Designated derivatives |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | 2,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,611 |  |  |  |  |
Total fair value of derivatives | $ | 2,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,611 |  |  |  |  |
The following tables present the effect of the Company’s designated derivative financial instruments on the accompanying Consolidated Statements of Operations for the years ended December 31, 2021, 2020 and 2019, including the impacts to Accumulated Other Comprehensive Income (AOCI) (in thousands):
| Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative |  | Location of Gain or (Loss) Reclassified from AOCI into Income |  | Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
| As of December 31, |  |  | As of December 31,
| 2021 |  | 2020 |  | 2019 |  |  | 2021 |  | 2020 |  | 2019
Interest rate contracts | $ | — |  |  | $ | (11,465) |  |  | $ | (571) |  |  | Interest expense |  | $ | — |  |  | $ | (3,368) |  |  | $ | 248 |
Interest rate contracts | — |  |  | (7,688) |  |  | — |  |  | Loss on debt extinguishment, modifications and termination of derivative instruments(1) |  | (2,681) |  |  | (7,688) |  |  | — |
Foreign exchange contracts | 11,626 |  |  | (11,015) |  |  | (879) |  |  | Foreign currency exchange (loss) gain, net |  | 7,595 |  |  | (12,158) |  |  | (264) |
Foreign exchange contracts | — |  |  | — |  |  | — |  |  | Interest expense |  | (175) |  |  | (74) |  |  | 58 |
Foreign exchange forwards | — |  |  | 5,250 |  |  | — |  |  |  |  | — |  |  | — |  |  | — |
Total designated cash flow hedges | $ | 11,626 |  |  | $ | (24,918) |  |  | $ | (1,450) |  |  |  |  | $ | 4,739 |  |  | $ | (23,288) |  |  | $ | 42 |
(1) The Company accelerated the reclassification in other comprehensive income to earnings as a result of the hedged forecasted transactions becoming not probable to occur resulting in a charge to “Loss on debt extinguishment, modification, and termination of derivative instruments” on the accompanying Consolidated Statement of Operations for the year ended December 31, 2020.
Schedule of Gross Presentation, Effects of Offsetting and a Net Presentation of Derivatives | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2021 and 2020, respectively. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying Consolidated Balance Sheets (in thousands):
December 31, 2021
Offsetting of Derivative Assets |  |  |  |  |  |  |  |
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |
| Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets Presented in the Consolidated Balance Sheet |  | Financial Instruments |  | Cash Collateral Received |  | Net Amount
Derivatives | $ | 2,015 |  |  | $ | — |  |  | $ | 2,015 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,015 |
As of December 31, 2021, the Company did not have any offsetting derivative liabilities.
December 31, 2020
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |
|  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheet |  |
| Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Liabilities Presented in the Consolidated Balance Sheet |  | Financial Instruments |  | Cash Collateral Received |  | Net Amount
Derivatives | $ | 9,611 |  |  | $ | — |  |  | $ | 9,611 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,611 |
As of December 31, 2020, the Company did not have any offsetting derivative assets.

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 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 -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration