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Derivatives (Tables)
9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Unsettled Purchased Foreign Currency Forward Contracts
As of September 30, 2020 and December 31, 2019, we had the following unsettled purchased foreign currency forward contracts that were entered into to hedge our operational exposure to foreign currency movements (in thousands, except for average contract rates):
Outstanding Notional Amounts as of September 30, 2020
Buy CurrencySell CurrencyForeign AmountUSD AmountAverage
Contract Rate
Polish ZlotyUS Dollar54,000 14,105 0.2612 
Singapore Dollar US Dollar12,000 8,899 0.7416 
Indian RupeeUS Dollar550,000 7,475 0.0136 
British Pound SterlingUS Dollar3,900 5,118 1.3123 
Australian DollarUS Dollar3,000 2,097 0.6990 
Swedish KronaUS Dollar5,000 531 0.1078 

Outstanding Notional Amounts as of December 31, 2019
Buy CurrencySell CurrencyForeign AmountUSD AmountAverage
Contract Rate
Polish ZlotyUS Dollar265,000 68,971 0.2603 
Indian RupeeUS Dollar4,485,000 61,708 0.0138 
Singapore DollarUS Dollar63,500 46,759 0.7364 
British Pound SterlingUS Dollar18,400 24,109 1.3103 
Australian DollarUS Dollar16,500 11,521 0.6982 
Swedish KronaUS Dollar38,100 4,106 0.1075 
Schedule of Outstanding Interest Rate Swaps Interest rate swaps outstanding during the nine months ended September 30, 2020 and 2019 are as follows:
Notional AmountInterest Rate
Received
Interest Rate PaidEffective DateMaturity Date
Designated as Hedging Instrument
$1,350 million
1 month LIBOR(1)
2.27%December 31, 2018December 31, 2019
$1,200 million
1 month LIBOR(1)
2.19%December 31, 2019December 31, 2020
$600 million
1 month LIBOR(1)
2.81%December 31, 2020December 31, 2021
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(1) Subject to a 0% floor.
Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments
The estimated fair values of our derivatives designated as hedging instruments as of September 30, 2020 and December 31, 2019 are as follows (in thousands):
 Derivative Assets (Liabilities)
  Fair Value as of
Derivatives Designated as Hedging InstrumentsConsolidated Balance Sheet LocationSeptember 30, 2020December 31, 2019
Foreign exchange contractsPrepaid expenses and other$— $1,953 
Foreign exchange contractsOther accrued liabilities(258)— 
Interest rate swapsOther accrued liabilities(18,428)(7,020)
Interest rate swapsOther noncurrent liabilities(3,368)(7,918)
Total $(22,054)$(12,985)
Schedule of Effects of Derivative Instruments Net of Taxes on Other Comprehensive Income (Loss)
The effects of derivative instruments, net of taxes, on OCI for the three and nine months ended September 30, 2020 and 2019 are as follows (in thousands):
 Amount of Gain (Loss) Recognized in OCI on Derivative,
Effective Portion
 Three Months Ended September 30,Nine Months Ended September 30,
Derivatives in Cash Flow Hedging Relationships2020201920202019
Foreign exchange contracts$2,164 $(5,072)$(4,837)$(4,761)
Interest rate swaps60 (1,284)(15,745)(16,178)
Total$2,224 $(6,356)$(20,582)$(20,939)

  Amount of Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging RelationshipsIncome Statement LocationThree Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Foreign exchange contractsCost of revenue$(319)$981 $2,904 $4,547 
Interest rate swapsInterest expense, net4,819 53 9,990 (1,003)
Total$4,500 $1,034 $12,894 $3,544