Derivative Instruments, Hedging Activities and Fair Value (Tables)

9 Months Ended

Sep. 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
September 30, 2021
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	930	$	8,718	$	9,648
Total		$	930	$	8,718	$	9,648

(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	$	851	$	866	$	1,717
Interest rate swaps	Other current liabilities	4,068		—		4,068
Interest rate swaps	Other liabilities	1,053		—		1,053
Total		$	5,972	$	866	$	6,838
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
	September 30					September 30
(In thousands)	2021		2020			2021		2020
Foreign currency exchange forward contracts	$	611	$	(1,244)	Product revenues	$	(418)	$	174
Interest rate swaps	(27)		(95)		Interest expense	872		739
CCIRs (a)	—		(24)		Interest expense	—		312
	$	584	$	(1,363)		$	454	$	1,225

	Amount Recognized in OCI on Derivatives				Location of Amount Reclassified from AOCI into Income	Amount Reclassified from AOCI into Income - Effective Portion or Equity
	Nine Months Ended					Nine Months Ended
	September 30					September 30
(In thousands)	2021		2020			2021		2020
Foreign currency exchange forward contracts	$	170	$	834	Product revenues	$	(465)	$	(1,562)
Interest rate swaps	(41)		(3,835)		Interest expense	2,599		1,849
CCIRs (a)	—		39		Interest expense	—		912
	$	129	$	(2,962)		$	2,134	$	1,199

(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
	September 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	$	105,677	$	(16,004)	$	124,892	$	(15,794)
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	—		(872)		—		(739)
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	418		—		(174)		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	24		—		12		—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	(1)		—		3		—
CCIRs:
Loss reclassified from AOCI into income	—		—		—		(312)

	Nine Months Ended
	September 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	$	343,171	$	(48,854)	$	333,782	$	(43,396)
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	—		(2,599)		—		(1,849)
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	465		—		1,562		—
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	62		—		208		—
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	(1)		—		24		—
CCIRs:
Loss reclassified from AOCI into income	—		—		—		(912)

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				Nine Months Ended
		September 30				September 30
(In thousands)		2021		2020		2021		2020
Foreign currency exchange forward contracts	Cost of services and products sold	$	4,105	$	(12,279)	$	8,109	$	(5,001)

(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.