Derivative Instruments, Hedging Activities and Fair Value (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	1,038	$	3,235	$	4,273
Total		$	1,038	$	3,235	$	4,273
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	216	$	1,957	$	2,173
Interest rate swaps	Other current liabilities	2,203		—		2,203
Total		$	2,419	$	1,957	$	4,376
December 31, 2021
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	719	$	1,405	$	2,124
Total		$	719	$	1,405	$	2,124
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	560	$	2,905	$	3,465
Interest rate swaps	Other current liabilities	4,157		—		4,157
Total		$	4,717	$	2,905	$	7,622

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
	March 31					March 31
(In thousands)	2022		2021			2022		2021
Foreign currency exchange forward contracts	$	1,009	$	(1)	Income (loss) from discontinued businesses	$	(588)	$	(50)
Interest rate swaps	—		19		Interest expense	1,050		865
	$	1,009	$	18		$	462	$	815

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

	Three Months Ended
	March 31
	2022				2021
(in thousands)	Interest Expense		Income From Discontinued Businesses		Interest Expense		Income From Discontinued Businesses
Total amounts of line items presented in the Condensed Consolidated Statement of Operations in which the effects of derivatives designated as hedging instruments are recorded	$	(15,092)	$	(32,506)	$	(16,256)	$	1,700
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	(1,050)		—		(865)		—
Amount recognized in earnings due to ineffectiveness	891		—		—		—
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	—		588		—		50
Amount excluded from effectiveness testing recognized in earnings based on changes in fair value	—		(41)		—		28
Amount excluded from the effectiveness testing recognized in earnings based on an amortization approach	—		(2)		—		1

Derivatives Not Designated as Hedging Instruments

	Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives (a)
		Three Months Ended
		March 31
(In thousands)		2022		2021
Foreign currency exchange forward contracts	Cost of services and products sold	$	3,838	$	4,744

(a)      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.