DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The following tables demonstrate the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2017 and 2016.

		Three Months Ended March 31,
	Income Statement Location	2017			2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)		($71	)		$711
Foreign currency option contracts	Other comprehensive income (loss)	(41		)	833
Interest rate swaps	Other comprehensive income (loss)	2,633			(14,886		)
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other comprehensive income (loss)	—			(4,606		)
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating income, net	—			895
	Interest income and miscellaneous income (expense), net	125			—
Foreign currency option contracts	Other operating income, net	—			258
Interest rate swaps	Interest income and miscellaneous income (expense), net	—			(1,219		)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets:

	Notional Amount
	March 31, 2017		December 31, 2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts		$61,200		$44,800
Foreign currency option contracts	81,000		91,000
Interest rate swaps	650,000		650,000
Derivative not designated as a hedging instrument:
Foreign currency exchange contracts	11,250		—

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets:

	Location on Balance Sheet	Fair Value Assets / (Liabilities) (a)
		March 31, 2017			December 31, 2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other current assets		$730			$692
	Other assets	102			33
	Other current liabilities	(223		)	(261		)
	Other non-current liabilities	(7		)	—
Foreign currency option contracts	Other current assets	718			1,064
	Other assets	167			327
	Other current liabilities	(335		)	(574		)
	Other non-current liabilities	(200		)	(426		)
Interest rate swaps	Other assets	18,106			17,204
	Other non-current liabilities	(4,248		)	(5,979		)
Derivative not designated as a hedging instrument:
Foreign currency exchange contracts	Other current assets	121			—
Total derivative contracts:
Other current assets			$1,569			$1,756
Other assets		18,375			17,564
Total derivative assets			$19,944			$19,320
Other current liabilities		(558		)	(835		)
Other non-current liabilities		(4,455		)	(6,405		)
Total derivative liabilities			($5,013	)		($7,240	)

(a) See Note 12 — Fair Value Measurements for further information on the fair value of the Company’s derivatives including their classification within the fair value hierarchy.