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Risk Management and Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives Balance Sheet Location | The following table presents the fair values of derivative instruments within the unaudited consolidated balance sheets. Refer to Note 9 for a discussion of the fair value measurements.
(In thousands) | Balance Sheet Classification | September 30, 2020 |  | December 31, 2019 |  | September 30, 2019 |  |
Derivatives designated as hedging instruments under ASC 815 |  |  |  |  |  |  |  |
Foreign currency contracts | Other current assets | $ | 5,659 |  |  | $ | 4,040 |  |  | $ | 18,866 |  |  |  |  |
Foreign currency contracts | Other long term assets | — |  |  | 24 |  |  | 1,220 |  |  |  |  |
Total derivative assets designated as hedging instruments | $ | 5,659 |  |  | $ | 4,064 |  |  | $ | 20,086 |  |  |  |  |
Foreign currency contracts | Other current liabilities | $ | 4,942 |  |  | $ | 8,772 |  |  | $ | 1,260 |  |  |  |  |
Foreign currency contracts | Other long term liabilities | — |  |  | $ | 2,443 |  |  | $ | — |  |  |  |  |
Total derivative liabilities designated as hedging instruments | $ | 4,942 |  |  | $ | 11,215 |  |  | $ | 1,260 |  |  |  |  |
Derivatives not designated as hedging instruments under ASC 815 |  |  |  |  |  |  |  |
Foreign currency contracts | Other current assets | $ | 5,373 |  |  | $ | 2,337 |  |  | $ | 1,393 |  |  |  |  |
Total derivative assets not designated as hedging instruments | $ | 5,373 |  |  | $ | 2,337 |  |  | $ | 1,393 |  |  |  |  |
Foreign currency contracts | Other current liabilities | $ | 1,714 |  |  | $ | 9,510 |  |  | $ | 2,794 |  |  |  |  |
Total derivative liabilities not designated as hedging instruments | $ | 1,714 |  |  | $ | 9,510 |  |  | $ | 2,794 |  |  |  |  |
Effects of Cash Flow Hedges | The following table presents the amounts in the unaudited consolidated statements of operations in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items.
| Three months ended September 30, |  | Nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
(In thousands) | Total | Amount of Gain (Loss) on Cash Flow Hedge Activity |  | Total | Amount of Gain (Loss) on Cash Flow Hedge Activity |  | Total | Amount of Gain (Loss) on Cash Flow Hedge Activity |  | Total | Amount of Gain (Loss) on Cash Flow Hedge Activity
Net revenues | $ | 1,433,021 |  | $218 |  | $ | 1,429,456 |  | $ | 6,125 |  |  | $ | 3,070,901 |  | $3,495 |  | $3,825,907 | $ | 14,337 |
Cost of goods sold | 746,701 |  | 4,496 |  |  | 739,558 |  | 1,317 |  |  | 1,604,428 |  | 7,179 |  |  | 2,036,901 |  | 3,525 |
Interest expense, net | (14,955) |  | (9) |  |  | (5,655) |  | (9) |  |  | (32,251) |  | (27) |  |  | (15,881) |  | 1,607 |
Other expense, net | (7,184) |  | 4 |  |  | (429) |  | 44 |  |  | (10,493) |  | 25 |  |  | (2,224) |  | 836 |
Cash Flows in AOCI | The following tables present the amounts affecting the unaudited statements of comprehensive income (loss).
(In thousands) | Balance as of June 30, 2020 | Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives | Amount of gain (loss) reclassified from other comprehensive income (loss) into income | Balance as of September 30, 2020
Derivatives designated as cash flow hedges |  |  |
Foreign currency contracts | 26,200 |  | (18,432) |  | 4,701 |  | 3,066 |
Interest rate swaps | (559) |  | — |  | (9) |  | (550) |
Total designated as cash flow hedges | $ | 25,641 |  | $ | (18,432) |  | $ | 4,692 |  | $ | 2,516 |
(In thousands) | Balance as of December 31, 2019 | Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives | Amount of gain (loss) reclassified from other comprehensive income (loss) into income | Balance as of September 30, 2020
Derivatives designated as cash flow hedges |  |  |
Foreign currency contracts | (6,005) |  | 19,727 |  | 10,655 |  | 3,066 |
Interest rate swaps | (577) |  | — |  | (27) |  | (550) |
Total designated as cash flow hedges | $ | (6,582) |  | $ | 19,727 |  | $ | 10,628 |  | $ | 2,516 |
(In thousands) | Balance as of June 30, 2019 | Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives | Amount of gain (loss) reclassified from other comprehensive income (loss) into income | Balance as of September 30, 2019
Derivatives designated as cash flow hedges |  |  |
Foreign currency contracts | 11,595 |  | 17,378 |  | 7,495 |  | 21,478 |
Interest rate swaps | (595) |  | — |  | (9) |  | (586) |
Total designated as cash flow hedges | $ | 11,000 |  | $ | 17,378 |  | $ | 7,486 |  | $ | 20,892 |
(In thousands) | Balance as of December 31, 2018 | Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives | Amount of gain (loss) reclassified from other comprehensive income (loss) into income | Balance as of September 30, 2019
Derivatives designated as cash flow hedges |  |  |
Foreign currency contracts | 21,908 |  | 18,277 |  | 18,707 |  | 21,478 |
Interest rate swaps | 954 |  | 67 |  | 1,607 |  | (586) |
Total designated as cash flow hedges | $ | 22,862 |  | $ | 18,344 |  | $ | 20,314 |  | $ | 20,892 |
Schedule of Fair Value Hedging Activity | The following table presents the amounts in the unaudited consolidated statements of operations in which the effects of undesignated derivative instruments are recorded and the effects of fair value hedge activity on these line items.
| Three months ended September 30, |  | Nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
(In thousands) | Total | Amount of Gain (Loss) on Fair Value Hedge Activity |  | Total | Amount of Gain (Loss) on Fair Value Hedge Activity |  | Total | Amount of Gain (Loss) on Fair Value Hedge Activity |  | Total | Amount of Gain (Loss) on Fair Value Hedge Activity
Other expense, net | $ | (7,184) |  | $ | (962) |  |  | $ | (429) |  | $ | (474) |  |  | $ | (10,493) |  | $ | 1,022 |  |  | $ | (2,224) |  | $ | (2,629) |

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