Derivative Instruments and Hedging Activities - (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
|
| Schedule of gains (losses) on derivative instruments |
The impact on accumulated other comprehensive loss and earnings from derivative instruments that qualified as cash flow hedges was as follows (in thousands): | | | | | | | | | | | | | | Year Ended December 31, | Interest Rate Contracts: | 2019 | | 2018 | | 2017 | Gain (loss) recognized in accumulated other comprehensive loss, net of tax | $ | (3,903 | ) | | $ | 2,274 |
| | $ | (213 | ) | Loss (gain) reclassified from accumulated other comprehensive loss to interest expense, net of tax | $ | (979 | ) | | $ | (252 | ) | | $ | 1,695 |
|
|
| Schedule of foreign exchange gain (loss) of outstanding derivatives |
The foreign exchange loss in our consolidated statements of income included the following gains and losses associated with foreign exchange contracts not designated as hedging instruments (in thousands): | | | | | | | | | | | | | | Year Ended December 31, | Foreign Exchange Forward Contracts: | 2019 | | 2018 | | 2017 | Gain (loss) recognized in foreign exchange loss | $ | (6,192 | ) | | $ | (14,648 | ) | | $ | 17,902 |
|
|
| Schedule of the fair value of outstanding derivatives |
The following table summarizes the fair value of outstanding derivatives (in thousands): | | | | | | | | | | | | | | December 31, 2019 | | Asset Derivatives | | Liability Derivatives | | Balance Sheet Location | | Fair Value | | Balance Sheet Location | | Fair Value | Derivatives designated as hedging instruments: | | | | | | | | Interest rate contracts | Other current assets | | $ | — |
| | Accrued liabilities | | $ | 855 |
| |
| |
| | Other non-current liabilities | | 660 |
| Derivatives not designated as hedging instruments: | | | | | | | | Foreign exchange forward contracts | Other current assets | | 2,508 |
| | Accrued liabilities | | 182 |
| Total fair value of derivative instruments | | | $ | 2,508 |
| | | | $ | 1,697 |
|
| | | | | | | | | | | | | | December 31, 2018 | | Asset Derivatives | | Liability Derivatives | | Balance Sheet Location | | Fair Value | | Balance Sheet Location | | Fair Value | Derivatives designated as hedging instruments: | | | | | | | | Interest rate contracts | Other current assets | | $ | 1,929 |
| | Accrued liabilities | | $ | — |
| | Other non-current assets | | 2,141 |
| | | | | Derivatives not designated as hedging instruments: | | | | | | | | Foreign exchange forward contracts | Other current assets | | 1,194 |
| | Accrued liabilities | | 1,460 |
| Total fair value of derivative instruments | | | $ | 5,264 |
| | | | $ | 1,460 |
|
|
| Schedule of offsetting assets |
The following table summarizes the potential effect on our consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | Derivative assets | $ | 2,508 |
| | $ | — |
| | $ | 2,508 |
| | $ | (596 | ) | | $ | — |
| | $ | 1,912 |
| Derivative liabilities | $ | (1,697 | ) | | $ | — |
| | $ | (1,697 | ) | | $ | 596 |
| | $ | — |
| | $ | (1,101 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | Derivative assets | $ | 5,264 |
| | $ | — |
| | $ | 5,264 |
| | $ | (935 | ) | | $ | — |
| | $ | 4,329 |
| Derivative liabilities | $ | (1,460 | ) | | $ | — |
| | $ | (1,460 | ) | | $ | 935 |
| | $ | — |
| | $ | (525 | ) |
|
| Schedule of offsetting liabilities |
The following table summarizes the potential effect on our consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2019 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | Derivative assets | $ | 2,508 |
| | $ | — |
| | $ | 2,508 |
| | $ | (596 | ) | | $ | — |
| | $ | 1,912 |
| Derivative liabilities | $ | (1,697 | ) | | $ | — |
| | $ | (1,697 | ) | | $ | 596 |
| | $ | — |
| | $ | (1,101 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2018 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | Derivative assets | $ | 5,264 |
| | $ | — |
| | $ | 5,264 |
| | $ | (935 | ) | | $ | — |
| | $ | 4,329 |
| Derivative liabilities | $ | (1,460 | ) | | $ | — |
| | $ | (1,460 | ) | | $ | 935 |
| | $ | — |
| | $ | (525 | ) |
|