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Risk Management and Derivatives (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Balance Sheet Location

The following table presents the fair values of derivative instruments within the Condensed Consolidated Balance Sheets. Refer to Note 15 of the Condensed Consolidated Financial Statements for a discussion of the fair value measurements.

						Balance Sheet Classification						March 31, 2022						December 31, 2021						March 31, 2021
Derivatives designated as hedging instruments under ASC 815
Foreign currency contracts						Other current assets						$	11,561					$	7,488					$	1,759
Foreign currency contracts						Other long term assets						2,730						2,887						727
Total derivative assets designated as hedging instruments												$	14,291					$	10,375					$	2,486
Foreign currency contracts						Other current liabilities						$	11,209					$	8,663					$	13,021
Foreign currency contracts						Other long term liabilities						3,645						779						3,331
Total derivative liabilities designated as hedging instruments												$	14,854					$	9,442					$	16,352
Derivatives not designated as hedging instruments under ASC 815
Foreign currency contracts						Other current assets						$	4,412					$	1,999					$	5,114
Total derivative assets not designated as hedging instruments												$	4,412					$	1,999					$	5,114
Foreign currency contracts						Other current liabilities						$	1,213					$	4,648					$	1,087
Total derivative liabilities not designated as hedging instruments												$	1,213					$	4,648					$	1,087

Schedule of Effects of Cash Flow Hedges

The following table presents the amounts in the Condensed 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 March 31,
			2022												2021
			Total						Amount of Gain (Loss) on Cash Flow Hedge Activity						Total						Amount of Gain (Loss) on Cash Flow Hedge Activity
Net revenues			$	1,300,945					$	2,049					$1,257,195						$	(3,147)
Cost of goods sold			$	695,781					$	(2,903)					$	628,554					$	(2,218)
Interest income (expense), net			$	(6,154)					$	(9)					$	(14,137)					$	(9)
Other income (expense), net			$	(51)					$	—					$	(7,180)					$	—

Schedule of Cash Flows in AOCI

The following tables present the amounts affecting the Condensed Consolidated Statements of Comprehensive Income (Loss):

			Balance as of December 31, 2021						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 March 31, 2022
Derivatives designated as cash flow hedges
Foreign currency contracts			$	(1,617)					$	804					$	(854)					$	41
Interest rate swaps			(504)						—						(9)						(495)
Total designated as cash flow hedges			$	(2,121)					$	804					$	(863)					$	(454)

			Balance as of December 31, 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 March 31, 2021
Derivatives designated as cash flow hedges
Foreign currency contracts			$	(25,908)					$	4,656					$	(5,365)					$	(15,886)
Interest rate swaps			(541)						—						(9)						(531)
Total designated as cash flow hedges			$	(26,449)					$	4,656					$	(5,374)					$	(16,417)

Schedule of Fair Value Hedging Activity

The following table presents the amounts in the 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 March 31,
			2022												2021
			Total						Amount of Gain (Loss) on Fair Value Hedge Activity						Total						Amount of Gain (Loss) on Fair Value Hedge Activity
Other income (expense), net			$	(51)					$	4,481					$	(7,180)					$	(2,737)

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
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Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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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.

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Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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