XML 34 R16.htm IDEA: XBRL DOCUMENT v3.20.4
Derivative Contracts
12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Contracts Derivative Contracts
As of December 31, 2020 and 2019, we had foreign currency forward contracts with total notional values of $583 million and $358 million, respectively, which are not designated as hedging instruments. Our foreign currency contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates. The fair value of these outstanding derivative contracts was as follows (in thousands):
 Consolidated Balance Sheet LocationDecember 31, 2020December 31, 2019
Derivative Assets:
Foreign currency derivative contractsPrepaid expenses and other current assets$7,541 $2,237 
Derivative Liabilities
Foreign currency derivative contractsAccrued expenses and other current liabilities$9,879 $1,362