Derivatives and Hedging (Tables)

9 Months Ended

Sep. 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:

		September 30, 2020				December 31, 2019
Instrument	Balance Sheet Location	Notional		Balance		Notional		Balance
Cash flow hedges:
Interest rate swaps	Other current liabilities	$	800,000	$	512	$	800,000	$	24,792
Net investment hedges:
Forward contracts	Prepaid expenses and other current assets	$	925,810	$	42,181	$	925,810	$	39,965
Forward contract	Other current liabilities	$	235,180	$	9,098	$	—	$	—
Foreign currency debt	Long-term debt	€	700,000	$	822,080	€	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:

	(Loss) Gain Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Three Months Ended September 30,
Cash flow hedges:
Interest rate contracts	$	(277)	$	(3,766)	$	—	$	—
Net investment hedges:
Forward contracts	(49,660)		35,796		6,574		5,596
Foreign currency debt	(35,140)		30,030		—		—
Total	$	(85,077)	$	62,060	$	6,574	$	5,596

	(Loss) Gain Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Nine Months Ended September 30,
Cash flow hedges:
Interest rate contracts	$	(29,107)	$	(25,332)	$	—	$	—
Net investment hedges:
Cross-currency swap	—		2,936		—		2,294
Forward contracts	(33,959)		41,436		20,572		12,220
Foreign currency debt	(38,080)		35,140		—		—
Total	$	(101,146)	$	54,180	$	20,572	$	14,514

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:

	(Loss) Gain Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Three Months Ended September 30,
Cash flow hedges:
Interest rate contracts	$	(277)	$	(3,766)	$	—	$	—
Net investment hedges:
Forward contracts	(49,660)		35,796		6,574		5,596
Foreign currency debt	(35,140)		30,030		—		—
Total	$	(85,077)	$	62,060	$	6,574	$	5,596

	(Loss) Gain Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2020		2019		2020		2019
Nine Months Ended September 30,
Cash flow hedges:
Interest rate contracts	$	(29,107)	$	(25,332)	$	—	$	—
Net investment hedges:
Cross-currency swap	—		2,936		—		2,294
Forward contracts	(33,959)		41,436		20,572		12,220
Foreign currency debt	(38,080)		35,140		—		—
Total	$	(101,146)	$	54,180	$	20,572	$	14,514