Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 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:

		June 30, 2020				December 31, 2019
Instrument	Balance Sheet Location	Notional		Balance		Notional		Balance
Cash flow hedges:
Interest rate swaps	Other current liabilities	$	800,000	$	358	$	800,000	$	24,792
Net investment hedges:
Forward contracts	Prepaid expenses and other current assets	$	1,160,990	$	76,169	$	925,810	$	39,965
Foreign currency debt	Long-term debt	€	700,000	$	786,940	€	700,000	$	784,000

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The tables below presents gains and losses related to designated cash flow hedges and net investment hedges:

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Three Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	(4,370)	$	(14,121)	$	—	$	—
Net investment hedges:
Forward contracts	(31,147)		(4,300)		7,476		5,008
Foreign currency debt	(13,720)		(10,570)		—		—
Total	$	(49,237)	$	(28,991)	$	7,476	$	5,008

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Six Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	(28,830)	$	(21,567)	$	—	$	—
Net investment hedges:
Cross-currency swap	—		2,936		—		2,294
Forward contracts	15,701		5,641		13,998		6,624
Foreign currency debt	(2,940)		5,110		—		—
Total	$	(16,069)	$	(7,880)	$	13,998	$	8,918

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

The tables below presents gains and losses related to designated cash flow hedges and net investment hedges:

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Three Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	(4,370)	$	(14,121)	$	—	$	—
Net investment hedges:
Forward contracts	(31,147)		(4,300)		7,476		5,008
Foreign currency debt	(13,720)		(10,570)		—		—
Total	$	(49,237)	$	(28,991)	$	7,476	$	5,008

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Six Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	(28,830)	$	(21,567)	$	—	$	—
Net investment hedges:
Cross-currency swap	—		2,936		—		2,294
Forward contracts	15,701		5,641		13,998		6,624
Foreign currency debt	(2,940)		5,110		—		—
Total	$	(16,069)	$	(7,880)	$	13,998	$	8,918