Treasury (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Effects of Interest Rate Swap Agreements and Foreign Currency Foreign Exchange Contracts on Result of Operations

The following table presents the effects of our interest rate swap agreements and our foreign currency foreign exchange contracts on our results of operations for the three and nine-month periods ended September 30, 2020 and 2019 (in thousands):

	Gain/(Loss) recognized in AOCI
	Three months ended					Nine months ended
	September 30,			September 30,		September 30,		September 30,
	2020			2019		2020		2019
Cash Flow Hedge relationships
Interest rate swap agreements (a)	$	0		$	0	$	0	$	(3,925	)

Net Investment Hedge relationships
Foreign currency foreign exchange contracts	$	(28,244	)	$	33,927	$	15,291	$	79,584

(a)

The amount of gain reclassified out of AOCI into interest expense, net was $0 during each of the three-month periods ended September 30, 2020 and 2019, respectively, and $0 and $3.4 million during the nine-month periods ended September 30, 2020 and 2019, respectively.

Summary of Cash, Cash Equivalents and Restricted Cash Reported In Condensed Consolidated Statements of Cash Flows

Cash, cash equivalents, and restricted cash as reported in the condensed consolidated statements of cash flows are presented separately on our condensed consolidated balance sheets as follow (in thousands):

	September 30,			December 31,
	2020			2019
Cash and cash equivalents	$	1,101,230		$	61,268
Restricted cash and cash equivalents (a)		44,659			44,399
Total cash, cash equivalents and restricted cash	$	1,145,889	(b)	$	105,667

(a) Restricted cash and cash equivalents is included in other assets on the accompanying consolidated balance sheet.
(b) Consists primarily of short-term cash accounts on which interest is being earned at various annual rates ranging from 0.06% to 0.31%.