Financial Instruments And Risk Management (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedges, Assets [Abstract]

Gross Notional Amount Of Outstanding Derivative Instruments

The following table presents the gross notional amount of outstanding derivative instruments: 

(in thousands)	June 30, 2020		December 31, 2019		June 30, 2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	381,599	$	471,822	$	353,975
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	223,500		214,086		359,179

Balance Sheet Classification And Fair Value Of Derivative Instruments

The following table presents the balance sheet classification and fair value of derivative instruments:

(in thousands)	Balance Sheet Classification	June 30, 2020		December 31, 2019		June 30, 2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	10,839	$	11,855	$	11,392
Currency forward contracts	Other non-current assets	6,775		4,159		6,776
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	80		1,313		170
Currency forward contracts	Other long-term liabilities	—		768		140
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	4,641		2,146		2,181
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	524		953		1,920

The following table presents the statement of operations effect and classification of derivative instruments:

	Statement of Operations Classification	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)		2020		2019		2020		2019
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax	—	$	(3,347)	$	(464)	$	11,015	$	2,804
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Net sales	165		75		43		110
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	1,826		925		4,621		2,121
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance	Other non-operating income	6		—		1,117		—
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	—		(26)		—		(31)
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	—		931		—		2,380
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating income	(319)		(1,137)		1,330		(574)