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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Unsettled Purchased Foreign Currency Forward Contracts | As of March 31, 2020 and December 31, 2019, 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, 2020 |  |  |  |  |  |  |  |
Buy Currency |  | Sell Currency |  | Foreign Amount |  | USD Amount |  | Average Contract Rate
Polish Zloty |  | US Dollar |  | 186,000 |  |  | 48,267 |  |  | 0.2595 |
Indian Rupee |  | US Dollar |  | 3,000,000 |  |  | 41,318 |  |  | 0.0137 |
Singapore Dollar |  | US Dollar |  | 45,000 |  |  | 33,120 |  |  | 0.7360 |
British Pound Sterling |  | US Dollar |  | 13,200 |  |  | 17,197 |  |  | 1.3028 |
Australian Dollar |  | US Dollar |  | 10,950 |  |  | 7,597 |  |  | 0.6938 |
Swedish Krona |  | US Dollar |  | 24,500 |  |  | 2,646 |  |  | 0.1062 |
Outstanding Notional Amounts as of December 31, 2019 |  |  |  |  |  |  |  |
Buy Currency |  | Sell Currency |  | Foreign Amount |  | USD Amount |  | Average Contract Rate
Polish Zloty |  | US Dollar |  | 265,000 |  |  | 68,971 |  |  | 0.2603 |
Indian Rupee |  | US Dollar |  | 4,485,000 |  |  | 61,708 |  |  | 0.0138 |
Singapore Dollar |  | US Dollar |  | 63,500 |  |  | 46,759 |  |  | 0.7364 |
British Pound Sterling |  | US Dollar |  | 18,400 |  |  | 24,109 |  |  | 1.3103 |
Australian Dollar |  | US Dollar |  | 16,500 |  |  | 11,521 |  |  | 0.6982 |
Swedish Krona |  | US Dollar |  | 38,100 |  |  | 4,106 |  |  | 0.1075 |
Schedule of Outstanding Interest Rate Swaps | Interest rate swaps outstanding during the three months ended March 31, 2020 and 2019 are as follows:
Notional Amount |  | Interest Rate Received |  | Interest Rate Paid |  | Effective Date |  | Maturity Date
Designated as Hedging Instrument |  |  |  |  |  |  |  |
$1,350 million |  | 1 month LIBOR(1) |  | 2.27% |  | December 31, 2018 |  | December 31, 2019
$1,200 million |  | 1 month LIBOR(1) |  | 2.19% |  | December 31, 2019 |  | December 31, 2020
$600 million |  | 1 month LIBOR(1) |  | 2.81% |  | December 31, 2020 |  | December 31, 2021
______________________ (1)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 as of March 31, 2020 and December 31, 2019 are as follows (in thousands):
|  | Derivative Assets (Liabilities) |  |  |  |
|  |  |  | Fair Value as of |  |
Derivatives Designated as Hedging Instruments |  | Consolidated Balance Sheet Location |  | March 31, 2020 |  | December 31, 2019
Foreign exchange contracts |  | Other accrued liabilities |  | $ | (8,988) |  |  | $ | — |
Foreign exchange contracts |  | Prepaid expenses and other current assets |  | — |  |  | 1,953 |
Interest rate swaps |  | Other accrued liabilities |  | (20,202) |  |  | (7,020) |
Interest rate swaps |  | Other noncurrent liabilities |  | (9,988) |  |  | (7,918) |
|  |  |  | $ | (39,178) |  |  | $ | (12,985) |
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, 2020 and 2019 are as follows (in thousands):
|  | Amount of (Loss) Gain Recognized in OCI on Derivative, Effective Portion |  |  |  |  |  |  |  |  |  |
|  | Three Months Ended March 31, |  |  |  |  |  |  |  |  |  |
Derivatives in Cash Flow Hedging Relationships |  | 2020 |  | 2019 |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | (9,459) |  |  | $ | (255) |  |  |  |  |  |  |  |  |
Interest rate swaps |  | (14,359) |  |  | (5,154) |  |  |  |  |  |  |  |  |
Total |  | $ | (23,818) |  |  | $ | (5,409) |  |  |  |  |  |  |  |  |
|  |  |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion |  |  |  |  |  |  |  |  |  |
Derivatives in Cash Flow Hedging Relationships |  | Income Statement Location |  | Three Months Ended March 31, |  |  |  |  |  |  |  |  |  |
|  |  |  | 2020 |  | 2019 |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Cost of revenue |  | $ | 621 |  |  | $ | 2,722 |  |  |  |  |  |  |  |  |
Interest rate swaps |  | Interest expense, net |  | 1,214 |  |  | (520) |  |  |  |  |  |  |  |  |
Total |  |  |  | $ | 1,835 |  |  | $ | 2,202 |  |  |  |  |  |  |  |  |

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