Derivative Instruments, Hedging Activities and Fair Value (Tables)

6 Months Ended

Jun. 30, 2021

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, 2021
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	372	$	4,642	$	5,014
Total		$	372	$	4,642	$	5,014

(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
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	757	$	980	$	1,737
Interest rate swaps	Other current liabilities	3,856		—		3,856
Interest rate swaps	Other liabilities	2,113		—		2,113
Total		$	6,726	$	980	$	7,706
December 31, 2020
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	900	$	2,777	$	3,677
Total		$	900	$	2,777	$	3,677
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	950	$	4,098	$	5,048
Interest rate swaps	Other current liabilities	3,959		—		3,959
Interest rate swaps	Other liabilities	3,718		—		3,718
Total		$	8,627	$	4,098	$	12,725

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)	2021		2020			2021		2020
Foreign currency exchange forward contracts	$	(440)	$	41	Product revenues	$	3	$	(332)
Interest rate swaps	(33)		(162)		Interest expense	862		732
CCIRs (a)	—		5		Interest expense	—		295
	$	(473)	$	(116)		$	865	$	695

	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)	2021		2020			2021		2020
Foreign currency exchange forward contracts	$	(441)	$	2,078	Product revenues	$	(47)	$	(1,736)
Interest rate swaps	(14)		(3,740)		Interest expense	1,727		1,110
CCIRs (a)	—		63		Interest expense	—		600
	$	(455)	$	(1,599)		$	1,680	$	(26)

(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
	2021				2020
(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	$	133,088	$	(15,986)	$	101,638	$	(14,953)
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	—		(862)		—		(732)
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	(3)		—		332		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	9		—		13		—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	(1)		—		21		—
CCIRs:
Loss reclassified from AOCI into income	—		—		—		(295)

	Six Months Ended
	June 30
	2021				2020
(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	$	237,494	$	(32,850)	$	208,890	$	(27,602)
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	—		(1,727)		—		(1,110)
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	47		—		1,736		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	38		—		196		—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	—		—		21		—
CCIRs:
Loss reclassified from AOCI into income	—		—		—		(600)

Derivatives Not Designated as Hedging Instruments

	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives (b)
		Three Months Ended				Six Months Ended
		June 30				June 30
(In thousands)		2021		2020		2021		2020
Foreign currency exchange forward contracts	Cost of services and products sold	$	(740)	$	1,736	$	4,004	$	7,278

(b)      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.