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Derivatives (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Unsettled Purchased Foreign Currency Forward Contracts

As of March 31, 2017 and December 31, 2016, we had the following unsettled purchased foreign currency forward contracts that were entered into to hedge our operational exposure to foreign currency movements (in thousands, except for average contract rates):

Outstanding Notional Amounts as of March 31, 2017
Buy Currency		Sell Currency		Foreign Amount			USD Amount			Average Contract Rate
Australian Dollar		US Dollar		23,500			17,582			0.7482
British Pound Sterling		US Dollar		22,050			28,356			1.2860
Indian Rupee		US Dollar		1,392,000			20,280			0.0146
Polish Zloty		US Dollar		243,500			60,949			0.2503
Singapore Dollar		US Dollar		60,500			43,546			0.7198

Outstanding Notional Amounts as of December 31, 2016
Buy Currency		Sell Currency		Foreign Amount			USD Amount			Average Contract Rate
Australian Dollar		US Dollar		17,000			12,574			0.7396
Euro		US Dollar		1,800			2,031			1.1283
British Pound Sterling		US Dollar		17,750			23,691			1.3347
Indian Rupee		US Dollar		1,174,500			16,786			0.0143
Polish Zloty		US Dollar		258,250			64,778			0.2508
Singapore Dollar		US Dollar		47,700			34,383			0.7208

Schedule of Outstanding Interest Rate Swaps

Interest Rate Swap Contracts—Interest rate swaps outstanding during the three months ended March 31, 2017 and 2016 are as follows:

Notional Amount		Interest Rate Received		Interest Rate Paid		Effective Date		Maturity Date
Designated as Hedging Instrument
$750 million		1 month LIBOR(1)		1.48%		December 31, 2015		December 30, 2016
$750 million		1 month LIBOR(2)		1.15%		March 31, 2017		December 31, 2017
$750 million		1 month LIBOR(2)		1.65%		December 29, 2017		December 31, 2018
$750 million		1 month LIBOR(2)		2.08%		December 31, 2018		December 31, 2019
Not Designated as Hedging Instrument
$750 million		1 month LIBOR(1)		2.19%		December 30, 2016		December 29, 2017
$750 million		1.18%		1 month LIBOR(1)		March 31, 2017		December 31, 2017
$750 million		1 month LIBOR(1)		2.61%		December 29, 2017		December 31, 2018
$750 million		1.67%		1 month LIBOR(1)		December 29, 2017		December 31, 2018

______________________

(1) Subject to a 1% floor.

(2) Subject to a 0% floor.

Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments

The estimated fair values of our derivatives designated as hedging instruments and those not designated as hedging instruments as of March 31, 2017 and December 31, 2016 are as follows (in thousands):

		Derivative Assets (Liabilities)
				Fair Value as of
Derivatives Designated as Hedging Instruments		Consolidated Balance Sheet Location		March 31, 2017				December 31, 2016
Foreign exchange contracts		Other accrued liabilities		$	(202	)		$	(7,360	)
Foreign exchange contracts		Prepaid expenses and other		1,179				—
Interest rate swaps		Other accrued liabilities		(315		)		(8,345		)
Interest rate swaps		Other noncurrent liabilities		(687		)		(7,339		)
				$	(25	)		$	(23,044	)

		Derivative Assets (Liabilities)
				Fair Value as of
Derivatives Not Designated as Hedging Instruments		Consolidated Balance Sheet Location		March 31, 2017				December 31, 2016
Interest rate swaps		Prepaid expenses and other		$	328			$	—
Interest rate swaps		Other accrued liabilities		(7,756		)		—
Interest rate swaps		Other noncurrent liabilities		(5,340		)		—
				$	(12,768	)		$	—

Schedule of Effects of Derivative Instruments Net of Taxes on Other Comprehensive Income (Loss)

The effects of derivative instruments, net of taxes, on OCI for the three months ended March 31, 2017 and 2016 are as follows (in thousands):

		Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)
		Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships		2017				2016
Foreign exchange contracts		$	5,121			$	3,041
Interest rate swaps		(665		)		(3,953		)
Total		$	4,456			$	(912	)

				Amount of Losses Reclassified from Accumulated OCI into Income (Effective Portion)
Derivatives in Cash Flow Hedging Relationships		Income Statement Location		Three Months Ended March 31,
				2017				2016
Foreign exchange contracts		Cost of revenue		$	1,519			$	919
Interest rate swaps		Interest Expense		1,352				582
Total				$	2,871			$	1,501

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Derivatives designated as foreign currency hedges.

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

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