DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2017 and 2016.

		Three Months Ended September 30,
	Income Statement Location	2017			2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive (loss) income		($1,579	)		$259
Foreign currency option contracts	Other comprehensive (loss) income	(716		)	635
Interest rate swaps	Other comprehensive (loss) income	(533		)	3,529
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Interest income and miscellaneous income (expense), net	609			—

		Nine Months Ended September 30,
	Income Statement Location	2017			2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive (loss) income		$1,611			$2,075
Foreign currency option contracts	Other comprehensive (loss) income	219			2,564
Interest rate swaps	Other comprehensive (loss) income	(2,921		)	(25,459		)
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other comprehensive (loss) income	—			(4,606		)
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating income, net	—			895
	Interest income and miscellaneous income (expense), net	283			—
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
	September 30, 2017		December 31, 2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts		$55,100		$44,800
Foreign currency option contracts	58,000		91,000
Interest rate swaps	650,000		650,000
Derivative not designated as a hedging instrument:
Foreign currency exchange contracts	18,020		—

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)
		September 30, 2017			December 31, 2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other current assets		$2,145			$692
	Other assets	173			33
	Other current liabilities	(12		)	(261		)
Foreign currency option contracts	Other current assets	753			1,064
	Other assets	56			327
	Other current liabilities	(173		)	(574		)
	Other non-current liabilities	(17		)	(426		)
Interest rate swaps	Other assets	14,606			17,204
	Other non-current liabilities	(6,302		)	(5,979		)
Derivative not designated as a hedging instrument:
Foreign currency exchange contracts	Other current assets	269			—
Total derivative contracts:
Other current assets			$3,167			$1,756
Other assets		14,835			17,564
Total derivative assets			$18,002			$19,320
Other current liabilities		(185		)	(835		)
Other non-current liabilities		(6,319		)	(6,405		)
Total derivative liabilities			($6,504	)		($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.