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Derivatives and Hedging (Tables)
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table summarizes the location and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships:
March 31, 2020December 31, 2019
Instrument
Balance sheet location
NotionalBalanceNotionalBalance
Cash flow hedges:
Interest rate swaps
Other current liabilities
$800,000  $47,275  $800,000  $24,792  
Net investment hedges:
Forward contracts
Prepaid expenses and other current assets
$1,513,760  $93,335  $925,810  $39,965  
Foreign currency debt
Long-term debt
€700,000  $773,220  €700,000  $784,000  
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The table below presents gains and losses related to designated cash flow hedges and net investment hedges:
Gain (Loss) Recognized in AOCL Before ReclassificationsGain Recognized in Interest Expense For Excluded Components
2020201920202019
Three Months Ended March 31,
Cash Flow Hedges:
Interest rate contract
$(24,461) $(7,447) $—  $—  
Net Investment Hedges:
Cross-currency swap—  2,936  —  2,294  
Forward contracts
46,848  9,941  6,522  1,616  
Foreign currency debt
10,780  15,680  —  —  
Total$33,167  $21,110  $6,522  $3,910  
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The table below presents gains and losses related to designated cash flow hedges and net investment hedges:
Gain (Loss) Recognized in AOCL Before ReclassificationsGain Recognized in Interest Expense For Excluded Components
2020201920202019
Three Months Ended March 31,
Cash Flow Hedges:
Interest rate contract
$(24,461) $(7,447) $—  $—  
Net Investment Hedges:
Cross-currency swap—  2,936  —  2,294  
Forward contracts
46,848  9,941  6,522  1,616  
Foreign currency debt
10,780  15,680  —  —  
Total$33,167  $21,110  $6,522  $3,910