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Derivatives and Hedging (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets

The following table summarizes the fair value of the Company's derivative instruments as well as the location of the asset and/or liability on the consolidated condensed balance sheets at September 30, 2020 and December 31, 2019 (in thousands):

	Balance Sheet Location		Fair Value of Asset Derivatives
			September 30, 2020				December 31, 2019
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Other current assets		$	158			$	53
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets		2,543				8
Total asset position			$	2,701			$	61

	Balance Sheet Location		Fair Value of Liability Derivatives
			September 30, 2020				December 31, 2019
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses		$	225			$	24
Cross-currency debt swap agreements	Accounts payable and accrued expenses		—				25
Interest rate hedge agreements	Accounts payable and accrued expenses		4,757				1,865
	Other long-term liabilities		14,748				7,030
			19,730				8,944
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Accounts payable and accrued expenses		2,215				741
Total liability position			$	21,945			$	9,685

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following tables summarize the net effect of all cash flow hedges on the consolidated condensed financial statements for the three and nine months ended September 30, 2020 and 2019 (in thousands):

		Gain/(Loss) Recognized in Other Comprehensive Income (Effective Portion)
		Three Months Ended September 30,								Nine Months Ended September 30,
Derivatives designated as cash flow hedging instruments		2020				2019				2020				2019
Foreign currency forward contracts		$	(1,070	)		$	464			$	904			$	1,037
Cross-currency debt swap agreements		—				13,133				15,081				14,297
Interest rate hedge agreements		(100		)		(2,662		)		(13,261		)		(10,559		)
		$	(1,170	)		$	10,935			$	2,724			$	4,775

		Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings (Effective Portion)
		Three Months Ended September 30,								Nine Months Ended September 30,
Derivatives designated as cash flow hedging instruments		2020				2019				2020				2019
Foreign currency forward contracts		$	621			$	556			$	1,493			$	930
Cross-currency debt swap agreements		—				9,868				18,510				12,119
Interest rate hedge agreements		(1,198		)		(150		)		(2,644		)		(194		)
		$	(577	)		$	10,274			$	17,359			$	12,855

Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type

The following table summarizes the location of net gains and losses in the consolidated condensed statements of operations that were recognized during the three and nine months ended September 30, 2020 and 2019, respectively, in addition to the derivative contract type (in thousands):

		Location of Net Gain/(Loss) Recognized in Income on Derivative Instruments		Amount of Net Gain/(Loss) Recognized in Income on  Derivative Instruments
Derivatives not designated as hedging instruments				Three Months Ended September 30,								Nine Months Ended September 30,
				2020				2019				2020				2019
Foreign currency forward contracts		Other expense, net		$	(4,639	)		$	4,035			$	622			$	5,476

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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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=109980867&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

+ 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
-Subparagraph (c)(1)
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