Derivative Instruments, Hedging Activities and Fair Value (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2020
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	3,406	$	4,732	$	8,138
Total		$	3,406	$	4,732	$	8,138
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	159	$	1,006	$	1,165
Interest rate swaps	Other current liabilities	3,673		—		3,673
Interest rate swaps	Other liabilities	5,336		—		5,336
Total		$	9,168	$	1,006	$	10,174
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 OCI on Derivatives				Location of Amount Reclassified from  AOCI into Income	Amount Reclassified from AOCI into Income - Effective Portion or Equity
	Three Months Ended					Three Months Ended
	June 30					June 30
(In thousands)	2020		2019			2020		2019
Foreign currency exchange forward contracts	$	41	$	669	Product revenues	$	(332)	$	(389)
Interest rate swaps	—		—		Income from discontinued businesses	—		2,741
Interest rate swaps	(162)		(4,327)		Interest expense	732		(271)
Cross-currency interest rate swaps (a)	5		54		Interest expense	295		303
	$	(116)	$	(3,604)		$	695	$	2,384

	Amount Recognized in OCI on Derivatives				Location of Amount Reclassified from AOCI 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)	2020		2019			2020		2019
Foreign currency exchange forward contracts	$	2,078	$	(43)	Product revenues/Cost of services sold	$	(1,736)	$	(421)
Interest rate swaps	—		—		Income from discontinued businesses	—		2,741
Interest rate swaps	(3,740)		(7,636)		Interest expense	1,110		(572)
Cross-currency interest rate swaps (a)	63		2		Interest expense	600		617
	$	(1,599)	$	(7,677)		$	(26)	$	2,365

(a) Amounts represent changes in foreign currency translation related to balances in AOCI.

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

	Three Months Ended
	June 30
	2020				2019
(in thousands)	Product Revenues		Interest Expense		Product Revenues		Cost of Services Sold		Interest Expense		Income From Discontinued Businesses
Total amounts of line items presented in the Condensed Consolidated Statement of Operations in which the effects of cash flow hedges are recorded	$	101,703	$	(14,953)	$	112,895	$	186,840	$	(6,103)	$	9,936
Interest rate swaps:
Amount of gain or (loss) reclassified from AOCI into income	—		(732)		—		—		271		—
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring	—		—		—		—		—		(2,741)

	Three Months Ended
	June 30
	2020		2019
(in thousands)	Product Revenues	Interest Expense	Product Revenues	Cost of Services Sold	Interest Expense	Income From Discontinued Businesses
Foreign exchange contracts:
Amount of gain or reclassified from AOCI into income	332	—	433	(44)	—	—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	13	—	238	—	—	—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	21	—	—	—	—	—
Cross-currency interest rate swaps:
Amount of loss reclassified from AOCI into income	—	(295)	—	—	(303)	—

	Six Months Ended
	June 30
	2020				2019
(in thousands)	Product Revenues		Interest Expense		Product Revenues		Cost of Services Sold		Interest Expense		Income From Discontinued Operations
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	$	209,205	$	(27,602)	$	213,277	$	368,711	$	(11,610)	$	23,686
Interest rate swaps:
Amount of gain or (loss) reclassified from AOCI into income	—		(1,110)		—		—		572		—
Amount of gain or (loss) reclassified from AOCI 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 AOCI into income	1,736		—		465		(44)		—		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	196		—		316		—		—		—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	21		—		—		—		—		—
Cross-currency interest rate swaps:
Amount of gain or (loss) reclassified from AOCI into income	—		(600)		—		—		(617)		—

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				Six Months Ended
		June 30				June 30
(In thousands)		2020		2019		2020		2019
Foreign currency exchange forward contracts	Cost of services and products sold	$	1,736	$	2,770	$	7,278	$	5,094

(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.