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DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The Company held the following cross-currency rate swaps as of September 30, 2018 (dollar amounts in thousands):
|  | Effective Date |  | Termination Date |  | Fixed Rate |  | Aggregate Notional Amount |  | Fair Value Liability
Pay CHF |  | October 2, 2017 |  | October 2, 2020 |  | 1.75% |  | CHF | 97,065 |  |  | $ | (1,286 | )
Receive U.S.$ |  |  | 4.38% |  | $ | 100,000 |  |
Pay CHF |  | October 2, 2017 |  | October 2, 2021 |  | 1.85% |  | CHF | 48,533 |  |  | (1,110 | )
Receive U.S.$ |  |  | 4.46% |  | $ | 50,000 |  |
Pay CHF |  | October 2, 2017 |  | October 2, 2022 |  | 1.95% |  | CHF | 145,598 |  |  | (4,467 | )
Receive U.S.$ |  |  | 4.52% |  | $ | 150,000 |  |
Total |  |  |  |  |  |  |  |  |  |  | $ | (6,863 | )
The Company held the following interest rate swaps as of September 30, 2018 (amounts in thousands):
Hedged Item |  | Current Notional Amount |  | Designation Date |  | Effective Date |  | Termination Date |  | Fixed Interest Rate |  | Floating Rate |  | Estimated Fair Value
|  |  |  |  |  |  |  |  |  |  |  |  |  | Assets (Liabilities)
3-month USD LIBOR Loan |  | $ | 50,000 |  |  | June 22, 2016 |  | December 31, 2016 |  | June 30, 2019 |  | 1.062 | % |  | 3-month USD LIBOR |  | $ | 588 |
3-month USD LIBOR Loan |  | 50,000 |  |  | June 22, 2016 |  | December 31, 2016 |  | June 30, 2019 |  | 1.062 | % |  | 3-month USD LIBOR |  | 924 |
1-month USD LIBOR Loan |  | 50,000 |  |  | July 12, 2016 |  | December 31, 2016 |  | June 30, 2019 |  | 0.825 | % |  | 1-month USD LIBOR |  | 637 |
3-month USD LIBOR Loan |  | 50,000 |  |  | February 6, 2017 |  | June 30, 2017 |  | June 30, 2020 |  | 1.834 | % |  | 3-month USD LIBOR |  | 590 |
1-month USD LIBOR Loan |  | 100,000 |  |  | February 6, 2017 |  | June 30, 2017 |  | June 30, 2020 |  | 1.652 | % |  | 1-month USD LIBOR |  | 1,950 |
1-month USD LIBOR Loan |  | 100,000 |  |  | March 27, 2017 |  | December 31, 2017 |  | June 30, 2021 |  | 1.971 | % |  | 1-month USD LIBOR |  | 2,342 |
1-month USD LIBOR Loan |  | 150,000 |  |  | December 13, 2017 |  | January 1, 2018 |  | December 31, 2022 |  | 2.201 | % |  | 1-month USD LIBOR |  | 4,322 |
1-month USD LIBOR Loan |  | 150,000 |  |  | December 13, 2017 |  | January 1, 2018 |  | December 31, 2022 |  | 2.201 | % |  | 1-month USD LIBOR |  | 4,277 |
1-month USD LIBOR Loan |  | 100,000 |  |  | December 13, 2017 |  | July 1, 2019 |  | June 30, 2024 |  | 2.423 | % |  | 1-month USD LIBOR |  | 2,786 |
1-month USD LIBOR Loan |  | 50,000 |  |  | December 13, 2017 |  | July 1, 2019 |  | June 30, 2024 |  | 2.423 | % |  | 1-month USD LIBOR |  | 1,339 |
1-month USD LIBOR Loan |  | 200,000 |  |  | December 13, 2017 |  | January 1, 2018 |  | December 31, 2024 |  | 2.313 | % |  | 1-month USD LIBOR |  | 7,174 |
Total interest rate derivatives designated as cash flow hedge |  | $ | 1,050,000 |  |  |  |  |  |  |  |  |  |  |  |  | $ | 26,929 |
Schedule of Fair Value and Presentation of Derivatives | The following table summarizes the fair value and presentation for derivatives designated as hedging instruments in the condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017:
|  | Fair Value as of
Location on Balance Sheet (1): |  | September 30, 2018 |  | December 31, 2017
|  | (In thousands)
Derivatives designated as hedges — Assets: |  |  |  |
Prepaid expenses and other current assets |  |  |  |
Interest rate swap(2) |  | $ | 6,682 |  |  | $ | 1,521 |
Cross-currency swap |  | 7,603 |  |  | 7,757 |
Other assets |  |  |  |
Interest rate swap(2) |  | 20,246 |  |  | 2,491 |
Total derivatives designated as hedges — Assets |  | $ | 34,531 |  |  | $ | 11,769 |
Derivatives designated as hedges — Liabilities: |  |  |  |
Accrued expenses and other current liabilities |  |  |  |
Interest rate swap(2) |  | $ | — |  |  | $ | 1,845 |
Other liabilities |  |  |  |
Interest rate swap(2) |  | — |  |  | 1,575 |
Cross-currency swap |  | 14,466 |  |  | 11,714 |
Total derivatives designated as hedges — Liabilities |  | $ | 14,466 |  |  | $ | 15,134 |
(1) | The Company classifies derivative assets and liabilities as non-current based on the cash flows expected to be incurred within the following 12 months.
(2) | At September 30, 2018 and December 31, 2017, the notional amount related to the Company’s interest rate swaps was $1.05 billion. The notional amount will be reduced by $150.0 million in June 2019.
Effect of Derivative Instruments Designated as Cash Flow Hedges on Statements of Operations | The following presents the effect of derivative instruments designated as cash flow hedges on the accompanying condensed consolidated statement of operations during the three and nine months ended September 30, 2018 and 2017:
| Balance in AOCI Beginning of Quarter |  | Amount of Gain (Loss) Recognized in AOCI |  | Amount of Gain (Loss) Reclassified from AOCI into Earnings |  | Balance in AOCI End of Quarter |  | Location in Statements of Operations
| (In thousands)
Three Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 22,344 |  |  | $ | 5,059 |  |  | $ | 473 |  |  | $ | 26,930 |  |  | Interest (expense)
Cross-currency swap | (7,892 | ) |  | (3,067 | ) |  | (707 | ) |  | (10,252 | ) |  | Other income (expense)
| $ | 14,452 |  |  | $ | 1,992 |  |  | $ | (234 | ) |  | $ | 16,678 |  |  |
Three Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 935 |  |  | $ | 297 |  |  | $ | (63 | ) |  | $ | 1,295 |  |  | Interest (expense)
| $ | 935 |  |  | $ | 297 |  |  | $ | (63 | ) |  | $ | 1,295 |  |  |
| Balance in AOCI Beginning of Year |  | Amount of Gain (Loss) Recognized in AOCI- Effective Portion |  | Amount of Gain (Loss) Reclassified from AOCI into Earnings-Effective Portion |  | Balance in AOCI End of Quarter |  | Location in Statements of Operations
| (In thousands)
Nine Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 592 |  |  | $ | 26,307 |  |  | $ | (31 | ) |  | $ | 26,930 |  |  | Interest (expense)
Cross-currency swap | (5,104 | ) |  | 3,000 |  |  | 8,148 |  |  | (10,252 | ) |  | Other income (expense)
| $ | (4,512 | ) |  | $ | 29,307 |  |  | $ | 8,117 |  |  | $ | 16,678 |  |  |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 1,871 |  |  | $ | (618 | ) |  | $ | (42 | ) |  | $ | 1,295 |  |  | Interest (expense)
| $ | 1,871 |  |  | $ | (618 | ) |  | $ | (42 | ) |  | $ | 1,295 |  |  |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + 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=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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