Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The fair values of our derivative instruments were as follows:

		Fair Value
Derivative Assets	Balance Sheet Location	September 30, 2020		December 31, 2019
Derivatives designated as hedging instruments under ASC 815-20		In thousands
Interest rate swap contract	Other current assets	$	—	$	174
Interest rate cap contracts	Other current assets	—		1
Cross currency swap contract	Other current assets	1,726		1,156
Cross currency swap contract	Other long-term assets	—		2,870
Derivatives not designated as hedging instruments under ASC 815-20
Foreign exchange forward contracts	Other current assets	291		96
Total asset derivatives		$	2,017	$	4,297
Derivative Liabilities
Derivatives designated as hedging instruments under ASC 815-20
Interest rate swap contracts	Other current liabilities	$	1,003	$	—
Interest rate swap contracts	Other long-term obligations	1,174		—
Derivatives not designated as hedging instruments under ASC 815-20
Foreign exchange forward contracts	Other current liabilities	365		162
Total liability derivatives		$	2,542	$	162

Accumulated OCI for Derivative and Nonderivative Instruments Designated as Hedging Instruments, Net of Tax

The changes in accumulated other comprehensive income (loss) (AOCI), net of tax, for our derivative and nonderivative hedging instruments designated as hedging instruments, net of tax, were as follows:

In thousands	2020		2019
Net unrealized loss on hedging instruments at January 1,	$	(15,103)	$	(13,179)
Unrealized gain (loss) on hedging instruments	(4,727)		4,995
Realized (gains) losses reclassified into net income (loss)	2,570		(5,799)
Net unrealized loss on hedging instruments at September 30,	$	(17,260)	$	(13,983)

Offsetting Assets

A summary of the effect of netting arrangements on our financial position related to the offsetting of our recognized derivative assets and liabilities under master netting arrangements or similar agreements is as follows:

Offsetting of Derivative Assets	Gross Amounts of Recognized Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands			Derivative Financial Instruments		Cash Collateral Received		Net Amount
September 30, 2020	$	2,017	$	(291)	$	—	$	1,726
December 31, 2019	4,297		(56)		—		4,241

Offsetting Liabilities

Offsetting of Derivative Liabilities	Gross Amounts of Recognized Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
In thousands			Derivative Financial Instruments		Cash Collateral Pledged		Net Amount
September 30, 2020	$	2,542	$	(291)	$	—	$	2,251
December 31, 2019	162		(56)		—		106

Effect of Cash Flow Derivatives on the Balance Sheet and Income Statement, Before Tax

The before-tax effects of our accounting for derivative instruments designated as hedges on AOCI were as follows:

Derivatives in ASC 815-20 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative				Gain (Loss) Reclassified from  AOCI into Income
					Location	Amount
In thousands	2020		2019			2020		2019
Three Months Ended September 30,
Interest rate swap contracts	$	(302)	$	13	Interest expense	$	(274)	$	359
Interest rate cap contracts	—		356		Interest expense	—		252
Foreign exchange options	(252)		1,011		Product cost of revenues	(450)		289
Cross currency swap contract	(2,326)		2,703		Interest expense	88		387
Cross currency swap contract	—		—		Other income/(expense), net	(2,242)		2,168
Nine Months Ended September 30,
Interest rate swap contract	$	(2,818)	$	(987)	Interest expense	$	(467)	$	1,278
Interest rate cap contracts	782		646		Interest expense	392		849
Foreign exchange options	(1,221)		1,229		Product cost of revenues	(612)		451
Cross currency swap contract	(1,969)		4,126		Interest expense	537		1,297
Cross currency swap contract	—		—		Other income/(expense), net	(2,438)		2,453

Foreign Exchange Derivatives Not Designated As Hedging Instruments

The effect of our derivative instruments not designated as hedges on the Consolidated Statements of Operations was as follows:

Derivatives Not Designated as Hedging Instrument under ASC 815-20	Location	Gain (Loss) Recognized on Derivatives in Other Income (Expense)
In thousands		2020		2019
Three Months Ended September 30,
Foreign exchange forward contracts	Other income (expense), net	$	(1,646)	$	(329)
Nine Months Ended September 30,
Foreign exchange forward contracts	Other income (expense), net	$	(1,056)	$	(1,241)