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Financial Instruments and Risk Management (Tables) | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Gross Notional Amount of Outstanding Derivatives | The following table presents the gross notional amount of outstanding derivative instruments:
|  | December 31, |  |
(in thousands) |  | 2019 |  | 2018
Derivative instruments designated as cash flow hedges: |  |  |  |
Currency forward contracts |  | $ | 471,822 |  |  | $ | 399,348 |
Derivative instruments not designated as hedges: |  |  |  |
Currency forward contracts |  | 214,086 |  |  | 379,701 |
Balance Sheet Classification and Fair Value of Derivative Instruments | The following table presents the balance sheet classification and fair value of derivative instruments:
|  |  | December 31, |  |
(in thousands) | Balance Sheet Classification |  | 2019 |  | 2018
Derivative instruments designated as cash flow hedges: |  |  |  |  |
Derivative instruments in asset positions: |  |  |  |  |
Currency forward contracts | Prepaid expenses and other current assets |  | $ | 11,855 |  |  | $ | 11,818 |
Currency forward contracts | Other non-current assets |  | 4,159 |  |  | 9,922 |
Derivative instruments in liability positions: |  |  |  |  |
Currency forward contracts | Accrued liabilities |  | 1,313 |  |  | 47 |
Currency forward contracts | Other long-term liabilities |  | 768 |  |  | 1 |
Derivative instruments not designated as cash flow hedges: |  |  |  |  |
Derivative instruments in asset positions: |  |  |  |  |
Currency forward contracts | Prepaid expenses and other current assets |  | 2,146 |  |  | 1,797 |
Derivative instruments in liability positions: |  |  |  |  |
Currency forward contracts | Accrued liabilities |  | 953 |  |  | 970 |
Effect and Classification of Derivative Instruments | The following table presents the statement of operations effect and classification of derivative instruments for the years ended December 31, 2019, 2018 and 2017:
|  |  | For the Year Ended December 31, |  |  |  |
(in thousands) | Statement Of Operations Classification |  | 2019 |  | 2018 |  | 2017
Currency Forward Contracts: |  |  |  |  |  |  |
Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |
Gain (loss) recognized in other comprehensive income, net of tax | — |  |  | $ | 6,669 |  |  | $ | 23,503 |  |  | $ | (15,862) |
Gain reclassified from accumulated other comprehensive loss to income for the effective portion | Net sales |  | 338 |  |  | 62 |  |  | 144 |
Gain (loss) reclassified from accumulated other comprehensive loss to income for the effective portion | Cost of sales |  | 9,558 |  |  | (7,604) |  |  | 1,195 |
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Net sales |  | (43) |  |  | 19 |  |  | 6 |
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion | Cost of sales |  | 2,380 |  |  | 7,009 |  |  | 2,843 |
Loss reclassified from accumulated other comprehensive loss to income as a result of cash flow hedge discontinuance | Other non-operating expense |  | — |  |  | — |  |  | (178) |
Derivative instruments not designated as hedges: |  |  |  |  |  |  |
Gain (loss) recognized in income | Other non-operating expense |  | 411 |  |  | 3,334 |  |  | (3,943) |

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