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Derivative Instruments and Hedging Activities - (Tables)
6 Months Ended
Jun. 30, 2020
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 for the three and six months ended June 30, 2020 and 2019 was as follows (in thousands):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Interest Rate Contracts:
2020
 
2019
 
2020
 
2019
Loss recognized in accumulated other comprehensive loss, net of tax
$
(324
)
 
$
(2,698
)
 
$
(4,524
)
 
$
(4,039
)
Loss (gain) reclassified from accumulated other comprehensive loss to interest expense, net of tax
921

 
(383
)
 
1,068

 
(783
)

Schedule of Foreign Exchange Gain (Loss) of Outstanding Derivatives
The foreign exchange loss in our condensed consolidated statements of income (loss) included the following gains and losses associated with foreign exchange contracts not designated as hedging instruments (in thousands):
 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
Foreign Exchange Forward Contracts:
2020
 
2019
 
2020
 
2019
Gain (loss) recognized in foreign exchange loss
$
3,533

 
$
121

 
$
(2,606
)
 
$
(3,288
)

Schedule of the Fair Value of Outstanding Derivatives
The following tables summarize the fair value of outstanding derivatives (in thousands):
 
June 30, 2020
 
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
 
$
5,299

 

 

 
Other non-current liabilities
 
180

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts
Other current assets
 
1,454

 
Accrued liabilities
 
1,765

Total fair value of derivative instruments
 
 
$
1,454

 
 
 
$
7,244


 
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


Schedule of Offsetting Assets The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands):
 
June 30, 2020
 
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
$
1,454

 
$

 
$
1,454

 
$
(1,269
)
 
$

 
$
185

Derivative liabilities
(7,244
)
 

 
(7,244
)
 
1,269

 

 
(5,975
)

 
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
)

Schedule of Offsetting Liabilities The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands):
 
June 30, 2020
 
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
$
1,454

 
$

 
$
1,454

 
$
(1,269
)
 
$

 
$
185

Derivative liabilities
(7,244
)
 

 
(7,244
)
 
1,269

 

 
(5,975
)

 
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
)