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Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2020

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)						2020						2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts						$	417,707					$	471,822
Derivative instruments not designated as hedges:
Currency forward contracts						326,280						214,086

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						2020						2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts			Prepaid expenses and other current assets						$	947					$	11,855
Currency forward contracts			Other non-current assets						1,126						4,159
Derivative instruments in liability positions:
Currency forward contracts			Accrued liabilities						7,573						1,313
Currency forward contracts			Other long-term liabilities						6,590						768
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts			Prepaid expenses and other current assets						1,650						2,146
Derivative instruments in liability positions:
Currency forward contracts			Accrued liabilities						2,268						953

Effect and Classification of Derivative Instruments

The following table presents the statement of operations effect and classification of derivative instruments:

									Year Ended December 31,
(in thousands)			Statement Of Operations Classification						2020						2019						2018
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax			—						$	(7,218)					$	6,669					$	23,503
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion			Net sales						191						338						62
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion			Cost of sales						14,495						9,558						(7,604)
Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance			Other non-operating income (expense), net						817						—						—
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion			Net sales						—						(43)						19
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion			Cost of sales						—						2,380						7,009
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income			Other non-operating income (expense), net						(2,865)						411						3,334

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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
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Paragraph 4C
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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
-Section 50
-Paragraph 4B
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
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-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959

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