6. Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables present the fair values of derivative instruments included in our condensed consolidated balance sheets as of September 30, 2021 and December 31, 2020 (in thousands):

	September 30, 2021
	Prepaid Expenses and Other Current Assets		Other Assets		Other Current Liabilities		Other Liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	$	628	$	18	$	36	$	—
Commodity swap contracts	633		—		—		—
Total derivatives designated as hedging instruments	$	1,261	$	18	$	36	$	—
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	$	5,421	$	—	$	1,684	$	—
Interest rate swap contracts	—		—		—		595
Total derivatives not designated as hedging instruments	$	5,421	$	—	$	1,684	$	595
Total derivative instruments	$	6,682	$	18	$	1,720	$	595

	December 31, 2020
	Prepaid Expenses and Other Current Assets		Other Current Liabilities		Other Liabilities
Derivatives designated as hedging instruments:
Foreign exchange forward contracts	$	—	$	2,504	$	341
Commodity swap contracts	1,478		—		—
Total derivatives designated as hedging instruments	$	1,478	$	2,504	$	341
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	$	1,837	$	2,776	$	—
Total derivatives not designated as hedging instruments	$	1,837	$	2,776	$	—
Total derivative instruments	$	3,315	$	5,280	$	341

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the pretax amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive income (loss) and our condensed consolidated statements of operations for the nine months ended September 30, 2021 and 2020 (in thousands):

	Foreign Exchange Forward Contracts		Commodity Swap Contracts		Total
Balance as of December 31, 2020	$	(3,644)	$	1,472	$	(2,172)
Amounts recognized in other comprehensive income (loss)	2,268		1,531		3,799
Amounts reclassified to earnings impacting:
Cost of sales	1,913		(883)		1,030
Balance as of September 30, 2021	$	537	$	2,120	$	2,657
Balance as of December 31, 2019	$	(962)	$	—	$	(962)
Amounts recognized in other comprehensive income (loss)	(2,129)		(228)		(2,357)
Amounts reclassified to earnings impacting:
Cost of sales	647		—		647
Balance as of September 30, 2020	$	(2,444)	$	(228)	$	(2,672)

Schedule of Derivative Instruments, Gain (Loss) [Table Text Block]

The following table presents gains and losses related to derivative instruments not designated as hedges affecting our condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and 2020 (in thousands):

		Amount of Gain (Loss) Recognized in Income
		Three Months Ended September 30,				Nine Months Ended September 30,
	Income Statement Line Item	2021		2020		2021		2020
Foreign exchange forward contracts	Cost of sales	$	103	$	(195)	$	(174)	$	(73)
Foreign exchange forward contracts	Foreign currency loss, net	1,802		(2,598)		10,821		(2,405)
Interest rate swap contracts	Interest expense, net	96		(5,878)		(595)		(7,259)

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]

As of September 30, 2021 and December 31, 2020, the notional values associated with our foreign exchange forward contracts qualifying as cash flow hedges were as follows (notional amounts and U.S. dollar equivalents in millions):

	September 30, 2021
Currency	Notional Amount	USD Equivalent
U.S. dollar (1)	$39.8	$39.8
British pound	GBP 10.6	$14.3

	December 31, 2020
Currency	Notional Amount	USD Equivalent
U.S. dollar (1)	$43.4	$43.4

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(1)These derivative instruments represent hedges of outstanding payables denominated in U.S. dollars at certain of our foreign subsidiaries whose functional currencies are other than the U.S. dollar.

Schedule of Notional Value of Foreign Exchange Forward Derivatives [Table Text Block]

As of September 30, 2021 and December 31, 2020, the notional values of our foreign exchange forward contracts that do not qualify for hedge accounting were as follows (notional amounts and U.S. dollar equivalents in millions):

	September 30, 2021
Transaction	Currency	Notional Amount	USD Equivalent
Purchase	Australian dollar	AUD 3.2	$2.3
Purchase	Brazilian real	BRL 2.6	$0.5
Purchase	Chilean peso	CLP 985.0	$1.2
Sell	Chilean peso	CLP 4,240.6	$5.3
Purchase	Euro	€86.4	$100.6
Sell	Euro	€32.6	$37.9
Purchase	British pound	GBP 2.5	$3.4
Sell	Indian rupee	INR 1,830.0	$24.7
Purchase	Japanese yen	¥151.8	$1.4
Sell	Japanese yen	¥27,325.6	$244.9
Purchase	Malaysian ringgit	MYR 30.5	$7.3
Sell	Malaysian ringgit	MYR 26.8	$6.4
Sell	Mexican peso	MXN 34.6	$1.7
Purchase	Singapore dollar	SGD 5.5	$4.0

	December 31, 2020
Transaction	Currency	Notional Amount	USD Equivalent
Purchase	Australian dollar	AUD 3.2	$2.5
Purchase	Brazilian real	BRL 2.6	$0.5
Sell	Canadian dollar	CAD 8.9	$7.0
Purchase	Chilean peso	CLP 2,006.0	$2.8
Sell	Chilean peso	CLP 4,476.7	$6.3
Purchase	Euro	€140.0	$172.1
Sell	Euro	€63.6	$78.2
Sell	Indian rupee	INR 619.2	$8.4
Purchase	Japanese yen	¥1,593.7	$15.5
Sell	Japanese yen	¥20,656.6	$200.5
Purchase	Malaysian ringgit	MYR 69.3	$17.2
Sell	Malaysian ringgit	MYR 24.9	$6.2
Sell	Mexican peso	MXN 34.6	$1.7
Purchase	Singapore dollar	SGD 2.9	$2.2