Derivative Instruments, Hedging Activities and Fair Value (Tables)

3 Months Ended

Mar. 31, 2020

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
March 31, 2020
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	4,113	$	4,898	$	9,011
Total		$	4,113	$	4,898	$	9,011
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	27	$	13,471	$	13,498
Interest rate swaps	Other current liabilities	3,543		—		3,543
Interest rate swaps	Other liabilities	6,035		—		6,035
Total		$	9,605	$	13,471	$	23,076
December 31, 2019
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	2,039	$	946	$	2,985
Total		$	2,039	$	946	$	2,985
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	140	$	3,733	$	3,873
Interest rate swaps	Other current liabilities	2,098		—		2,098
Interest rate swaps	Other liabilities	4,281		—		4,281
Total		$	6,519	$	3,733	$	10,252

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)	2020			2019				2020			2019
Foreign currency exchange forward contracts	$	2,037		$	(712	)	Product revenues	$	(1,404	)	$	(32	)
Interest rate swaps	(3,578		)	(3,309		)	Interest expense	378			(301		)
Cross-currency interest rate swaps (a)	58			(52		)	Interest expense	305			314
	$	(1,483	)	$	(4,073	)		$	(721	)	$	(19	)

(a) 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 Company's Condensed Consolidated Statements of Operations:

	Three Months Ended
	March 31
	2020					2019
(in thousands)	Product Revenues		Interest Expense			Product Revenues		Interest Expense
Total amounts of line items presented in the Condensed Consolidated Statement of Operations in which the effects of cash flow hedges are recorded	$	107,502	$	(12,649	)	$	100,382	$	(5,507	)
Interest rate swaps:
Amount of gain or (loss) reclassified from accumulated other comprehensive loss into income	—		(378		)	—		301
Foreign exchange contracts:
Amount of gain or reclassified from accumulated other comprehensive loss into income	1,404		—			32		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	183		—			78		—
Cross-currency interest rate swaps:
Amount of loss reclassified from accumulated other comprehensive income into income	—		(305		)	—		(314		)

Derivatives Not Designated as Hedging Instruments

	Location of Gain Recognized in Income on Derivatives	Amount of Gain Recognized in Income on Derivatives (b)
		Three Months Ended
		March 31
(In thousands)		2020		2019
Foreign currency exchange forward contracts	Cost of services and products sold	$	5,542	$	2,323

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