Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Financial Instruments

Schedule of activity of cash flow hedges included in accumulated other comprehensive loss

(in thousands)	Cash Flow Hedges
Balance as of March 31, 2020	$	(19,039)
Unrealized loss recognized in other comprehensive loss, net of tax		(2,290)
Reclassification to interest expense, net		1,717
Balance as of June 30, 2020	$	(19,612)
Balance as of March 31, 2019	$	(5,872)
Unrealized loss recognized in other comprehensive loss, net of tax		(4,775)
Reclassification to interest expense, net		87
Balance as of June 30, 2019	$	(10,560)

The following table presents the activity of cash flow hedges included in accumulated other comprehensive loss for the six months ended June 30, 2020 and 2019, respectively:

(in thousands)	Cash Flow Hedges
Balance as of December 31, 2019	$	(10,137)
Unrealized loss recognized in other comprehensive loss, net of tax		(12,063)
Reclassification to interest expense, net		2,588
Balance as of June 30, 2020	$	(19,612)
Balance as of December 31, 2018	$	(2,936)
Unrealized loss recognized in other comprehensive loss, net of tax		(7,926)
Reclassification to interest expense, net		302
Balance as of June 30, 2019	$	(10,560)

Schedule of fair value of derivative liabilities within the consolidated balance sheets

	As of June 30, 2020				As of December 31, 2019
(in thousands)	Assets		Liabilities		Assets		Liabilities
Derivatives designated as cash flow hedging instruments:
Accrued expenses and other current liabilities	$	—	$	7,814	$	—	$	3,516
Other liabilities		—		17,996		—		9,821