Financial Instruments and Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2020

Financial Instruments And Fair Value Measurement [Abstract]

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 years ended December 31 (in thousands):

	Gain/(Loss) recognized in AOCI
	December 31,			December 31,			December 31,
	2020			2019			2018
Cash Flow Hedge relationships
Interest rate swap agreements (a)	$	0		$	(3,925	)	$	(2,805	)
Net Investment Hedge relationships
Foreign currency foreign exchange contracts	$	(22,097	)	$	(18,328	)	$	75,059

(a) The amount of gain reclassified out of AOCI into interest expense, net was $3.4 million and $6.7 million during 2019 and 2018, respectively.

Summary of Assets and Liabilities Recorded at Fair Value on Recurring Basis

The following tables present the assets and liabilities recorded at fair value on a recurring basis:

	Balance at		Balance Sheet	Basis of Fair Value Measurement
(in thousands)	December 31, 2020		Location	Level 1		Level 2		Level 3
Assets:
Term Deposits	$	540,000	Cash and cash equivalents			$	540,000
Money market mutual funds		37,100	Cash and cash equivalents		37,100
Money market mutual funds		70,995	Other assets		70,995
Certificates of deposit		2,300	Other assets				2,300
Available for sale securities		78,367	Other assets		78,367
Deferred compensation assets		42,044	Other assets		42,044
Foreign currency exchange contracts		9,987	Other current assets				9,987
	$	780,793		$	228,506	$	552,287		-
Liabilities:
Deferred compensation liability	$	42,044	Other noncurrent liabilities	$	42,044
	$	42,044		$	42,044		-		-
	Balance at		Balance Sheet	Basis of Fair Value Measurement
(in thousands)	December 31, 2019		Location	Level 1		Level 2		Level 3
Assets:
Money market mutual funds	$	60,175	Other assets	$	60,175
Certificates of deposit		2,200	Other assets				2,200
Available for sale securities		70,478	Other assets		70,478
Deferred compensation assets		35,510	Other assets		35,510
Foreign currency exchange contracts		10,343	Other current assets				10,343
	$	178,706		$	166,163	$	12,543		-
Liabilities:
Deferred compensation liability	$	35,510	Other noncurrent liabilities	$	35,510
	$	35,510		$	35,510		-		-