Derivative Instruments, Hedging Activities and Fair Value (Tables)

9 Months Ended

Sep. 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
September 30, 2019
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	3,587	$	12,715	$	16,302
Total		$	3,587	$	12,715	$	16,302
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	—	$	752	$	752
Interest rate swaps	Other current liabilities	1,772		—		1,772
Interest rate swaps	Other liabilities	5,091		—		5,091
Total		$	6,863	$	752	$	7,615
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
	September 30							September 30
(In thousands)	2019			2018				2019			2018
Foreign currency exchange forward contracts	$	808		$	(410	)	Product revenues/Cost of services sold	$	(512	)	$	(3	)
Interest rate swaps	(930		)	1,276			Interest expense	(76		)	(367		)
Cross-currency interest rate swaps (a)	51			—			Interest expense	291			312
	$	(71	)	$	866			$	(297	)	$	(58	)

	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
	Nine Months Ended						Nine Months Ended
	September 30						September 30
(In thousands)	2019			2018			2019			2018
Foreign currency exchange forward contracts	$	765		$	1,369	Product revenues/Cost of services sold	$	(933	)	$	(112	)
Foreign currency exchange forward contracts (b)	—			—		Retained earnings	—			(1,520		)
Interest rate swaps				—		Income from discontinued businesses	2,741			—
Interest rate swaps	(8,566		)	6,657		Interest expense	(648		)	(602		)
Cross-currency interest rate swaps (a)	53			—		Interest expense	908			960
	$	(7,748	)	$	8,026		$	2,068		$	(1,274	)

(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
	September 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	$	106,488	$	239,519	$	(12,819	)	$	272	$	127,367	$	174,937		$	(5,620	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—		76			—		—		—			367
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	512		—		—			—		3		—			—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	86		—		—			—		—		(108		)	—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—		(291		)	—		—		—			(312		)

	Nine Months Ended
	September 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	$	319,765	$	608,230	$	(24,429	)	$	23,958		$	301,796	$	554,005	$	(16,891	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—		—		648			—			—		—		602
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		)	—		—		—

	Nine Months Ended
	September 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
Foreign exchange contracts:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	977	(44	)	—		—	112	—		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	403	—		—		—	—	(116	)	—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	—	—		(908	)	—	—	—		(960	)

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				Nine Months Ended
		September 30				September 30
(In thousands)		2019		2018		2019		2018
Foreign currency exchange forward contracts	Cost of services and products sold	$	10,642	$	3,194	$	15,735	$	13,459

(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.