Derivative Instruments, Hedging Activities and Fair Value (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments, Hedging Activities And Fair Value Disclosure [Abstract]

Schedule of fair value of outstanding derivative contracts

(In thousands)	Balance Sheet Location	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
March 31, 2019
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,275	$	5,520	$	7,795
Interest rate swaps	Other current assets	736		—		736
Total		$	3,011	$	5,520	$	8,531
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	121	$	1,426	$	1,547
Interest rate swaps	Other current liabilities	96		—		96
Interest rate swaps	Other liabilities	4,639		—		4,639
Total		$	4,856	$	1,426	$	6,282
December 31, 2018
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,970	$	589	$	3,559
Interest rate swaps	Other current assets	1,331		—		1,331
Interest rate swaps	Other assets	128		—		$	128
Total		$	4,429	$	589	$	5,018
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	24	$	2,910	$	2,934
Interest rate swaps	Other liabilities	1,849		—		1,849
Total		$	1,873	$	2,910	$	4,783

Schedule of effect of derivative instruments

Derivatives Designated as Hedging Instruments

	Amount Recognized in Other Comprehensive Income (“OCI”) on Derivatives						Location of Amount Reclassified from Accumulated OCI into Income	Amount Reclassified from Accumulated OCI into Income - Effective Portion or Equity
	Three Months Ended							Three Months Ended
	March 31							March 31
(In thousands)	2019			2018				2019			2018
Foreign currency exchange forward contracts	$	(712	)	$	240		Product revenues	$	(32	)	$	(212	)
Foreign currency exchange forward contracts (a)	—			—			Retained earnings	—			(1,520		)
Interest rate swaps	(3,309		)	3,310			Interest expense	(301		)	—
Cross-currency interest rate swaps (b)	(52		)	(93		)	Interest expense	314			271
	(4,073		)	3,457				$	(19	)	$	(1,461	)

(a) The Company has adopted the new revenue recognition standard utilizing the modified retrospective transition method, including use of practical expedients. See Note 2, Recently Adopted and Recently Issued Accounting Standards for additional information.

(b) Amounts represent changes in foreign currency translation related to balances in Accumulated other comprehensive loss.

The location and amount of gain (loss) recognized on the Condensed Consolidated Statements of Operations:

	Three Months Ended
	March 31
	2019					2018
(in thousands)	Product Revenues		Interest Expense			Product Revenues		Cost of Products Sold			Interest Expense
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of cash flow hedges are recorded	$	217,768	$	(9,739	)	$	163,829	$	119,678		$	(9,583	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		301			—		—			—
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	32		—			212		—			—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	78		—			—		(19		)	—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		(314		)	—		—			(271		)

Derivatives Not Designated as Hedging Instruments

	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives for the Three Months Ended March 31(c)
(In thousands)		2019		2018
Foreign currency exchange forward contracts	Cost of services and products sold	$	2,323	$	(5,466	)

(c)  These gains (losses) offset amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.