Derivatives and Hedging (Tables)

6 Months Ended

Jun. 30, 2021

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, 2021				December 31, 2020
Instrument	Balance Sheet Location	Notional		Balance		Notional		Balance
Net investment hedges:
Forward contracts	Prepaid expenses and other current assets	$	925,810	$	37,783	$	800,000	$	7,668
Forward contracts	Other current liabilities	$	235,180	$	12,223	$	360,990	$	19,442
Foreign currency debt	Long-term debt	€	700,000	$	832,790	€	700,000	$	861,070

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
	2021		2020		2021		2020
Three Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	—	$	(4,370)	$	—	$	—
Net investment hedges:
Forward contracts	(13,329)		(31,147)		6,574		7,476
Foreign currency debt	(12,670)		(13,720)		—		—
Total	$	(25,999)	$	(49,237)	$	6,574	$	7,476

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2021		2020		2021		2020
Six Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	—	$	(28,830)	$	—	$	—
Net investment hedges:
Forward contracts	24,186		15,701		13,148		13,998
Foreign currency debt	28,280		(2,940)		—		—
Total	$	52,466	$	(16,069)	$	13,148	$	13,998

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
	2021		2020		2021		2020
Three Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	—	$	(4,370)	$	—	$	—
Net investment hedges:
Forward contracts	(13,329)		(31,147)		6,574		7,476
Foreign currency debt	(12,670)		(13,720)		—		—
Total	$	(25,999)	$	(49,237)	$	6,574	$	7,476

	Gain (Loss) Recognized in AOCL Before Reclassifications				Gain Recognized in Interest Expense For Excluded Components
	2021		2020		2021		2020
Six Months Ended June 30,
Cash flow hedges:
Interest rate contracts	$	—	$	(28,830)	$	—	$	—
Net investment hedges:
Forward contracts	24,186		15,701		13,148		13,998
Foreign currency debt	28,280		(2,940)		—		—
Total	$	52,466	$	(16,069)	$	13,148	$	13,998