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Financial Instruments and Risk Management (Tables) | 6 Months Ended
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Jun. 30, 2021
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:
(in thousands) |  | June 30, 2021 |  | December 31, 2020 |  | June 30, 2020
Derivative instruments designated as cash flow hedges: |  |  |  |  |  |
Currency forward contracts |  | $ | 530,840 |  |  | $ | 417,707 |  |  | $ | 381,599 |
Derivative instruments not designated as cash flow hedges: |  |  |  |  |  |
Currency forward contracts |  | 258,377 |  |  | 326,280 |  |  | 223,500 |
Balance Sheet Classification and Fair Value of Derivative Instruments | The following table presents the balance sheet classification and fair value of derivative instruments:
(in thousands) | Balance Sheet Classification |  | June 30, 2021 |  | December 31, 2020 |  | June 30, 2020
Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |
Derivative instruments in asset positions: |  |  |  |  |  |  |
Currency forward contracts | Prepaid expenses and other current assets |  | $ | 1,850 |  |  | $ | 947 |  |  | $ | 10,839 |
Currency forward contracts | Other non-current assets |  | 6,772 |  |  | 1,126 |  |  | 6,775 |
Derivative instruments in liability positions: |  |  |  |  |  |  |
Currency forward contracts | Accrued liabilities |  | 7,351 |  |  | 7,573 |  |  | 80 |
Currency forward contracts | Other long-term liabilities |  | 2,396 |  |  | 6,590 |  |  | — |
Derivative instruments not designated as cash flow hedges: |  |  |  |  |  |  |
Derivative instruments in asset positions: |  |  |  |  |  |  |
Currency forward contracts | Prepaid expenses and other current assets |  | 1,578 |  |  | 1,650 |  |  | 4,641 |
Derivative instruments in liability positions: |  |  |  |  |  |  |
Currency forward contracts | Accrued liabilities |  | 1,830 |  |  | 2,268 |  |  | 524 |
The following table presents the statement of operations effect and classification of derivative instruments:
|  |  | Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | Statement Of Operations Classification |  | 2021 |  | 2020 |  | 2021 |  | 2020
Currency Forward Contracts: |  |  |  |  |  |  |  |  |
Derivative instruments designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Gain (loss) recognized in other comprehensive income (loss), net of tax | — |  | $ | (3,903) |  |  | $ | (3,347) |  |  | $ | 5,376 |  |  | $ | 11,015 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion | Net sales |  | (111) |  |  | 165 |  |  | (11) |  |  | 43 |
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion | Cost of sales |  | (348) |  |  | 1,826 |  |  | 424 |  |  | 4,621 |
Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance | Other non-operating income (expense), net |  | — |  |  | 6 |  |  | 106 |  |  | 1,117 |
Derivative instruments not designated as cash flow hedges: |  |  |  |  |  |  |  |  |
Gain (loss) recognized in income | Other non-operating income (expense), net |  | (1,619) |  |  | (319) |  |  | (722) |  |  | 1,330 |

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- 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=121590274&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 + Details
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