Derivative Instruments, Hedging Activities and Fair Value (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of outstanding derivative contracts

The fair value of outstanding derivative contracts recorded as assets and liabilities on the Company's Condensed Consolidated Balance Sheets was as follows:

(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
June 30, 2019
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,855	$	4,261	$	7,116
Total		$	2,855	$	4,261	$	7,116
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	36	$	797	$	833
Interest rate swaps	Other current liabilities	1,227		—		1,227
Interest rate swaps	Other liabilities	4,631		—		4,631
Total		$	5,894	$	797	$	6,691
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
	June 30						June 30
(In thousands)	2019			2018			2019			2018
Foreign currency exchange forward contracts	$	669		$	1,539	Product revenues/Cost of services sold	$	(389	)	$	103
Interest rate swaps	—			—		Income from discontinued businesses	2,741			—
Interest rate swaps	(4,327		)	2,071		Interest expense	(271		)	(235		)
Cross-currency interest rate swaps (a)	54			93		Interest expense	303			377
	$	(3,604	)	$	3,703		$	2,384		$	245

	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
	Six Months Ended						Six Months Ended
	June 30						June 30
(In thousands)	2019			2018			2019			2018
Foreign currency exchange forward contracts	$	(43	)	$	1,779	Product revenues/Cost of services sold	$	(421	)	$	(109	)
Foreign currency exchange forward contracts (b)	—			—		Retained earnings	—			(1,520		)
Interest rate swaps	—			—		Income from discontinued businesses	2,741			—
Interest rate swaps	(7,636		)	5,381		Interest expense	(572		)	(235		)
Cross-currency interest rate swaps (a)	2			—		Interest expense	617			648
	$	(7,677	)	$	7,160		$	2,365		$	(1,216	)

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

(b) 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.

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

	Three Months Ended
	June 30
	2019											2018
(in thousands)	Product Revenues		Cost of Services Sold			Interest Expense			Income From Discontinued Businesses			Product Revenues			Cost of Services 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	$	112,895	$	186,840		$	(6,103	)	$	9,936		$	94,199		$	187,393	$	(5,681	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—			271			—			—			—		235
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring	—		—			—			(2,741		)	—			—		—
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	433		(44		)	—			—			(103		)	—		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	238		—			—			—			—			12		—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—			(303		)	—			—			—		(377		)

	Six Months Ended
	June 30
	2019											2018
(in thousands)	Product Revenues		Cost of Services Sold			Interest Expense			Income From Discontinued Businesses			Product Revenues		Cost of Services 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	$	213,277	$	368,711		$	(11,610	)	$	23,686		$	174,429	$	379,068		$	(11,271	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—			572			—			—		—			235
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring	—		—			—			(2,741		)	—		—			—
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	465		(44		)	—			—			109		—			—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	316		—			—			—			—		(7		)	—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—			(617		)	—			—		—			(648		)

Derivatives Not Designated as Hedging Instruments

	Location of Gain Recognized in Income on Derivatives	Amount of Gain Recognized in Income on Derivatives (c)
		Three Months Ended				Six Months Ended
		June 30				June 30
(In thousands)		2019		2018		2019		2018
Foreign currency exchange forward contracts	Cost of services and products sold	$	2,770	$	15,731	$	5,094	$	10,265

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