Fair Value Measurements and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis at December 31, 2019 and 2018.

	December 31, 2019
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	161,441	$	240,364		$	—	$	401,805
Equity securities	—		21,979			—		21,979
Commingled fixed income securities	1,656		18,404			—		20,060
Government and related securities	64,572		17,478			—		82,050
Corporate debt securities	—		72,149			—		72,149
Mortgage-backed / asset-backed securities	—		66,339			—		66,339
Derivatives
Foreign exchange contracts	—		3,256			—		3,256
Total assets	$	227,669	$	439,969		$	—	$	667,638
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(1,402	)	$	—	$	(1,402	)
Total liabilities	$	—	$	(1,402	)	$	—	$	(1,402	)

	December 31, 2018
	Level 1		Level 2			Level 3		Total
Assets:
Investment securities
Money market funds / commercial paper	$	220,756	$	391,891		$	—	$	612,647
Equity securities	—		19,133			—		19,133
Commingled fixed income securities	1,570		20,141			—		21,711
Government and related securities	98,790		9,787			—		108,577
Corporate debt securities	—		56,938			—		56,938
Mortgage-backed / asset-backed securities	—		98,334			—		98,334
Derivatives
Foreign exchange contracts	—		2,031			—		2,031
Total assets	$	321,116	$	598,255		$	—	$	919,371
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(735	)	$	—	$	(735	)
Total liabilities	$	—	$	(735	)	$	—	$	(735	)

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale securities consisted of the following:

	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Government and related securities	$	80,732	$	1,358	$	(114	)	$	81,976
Corporate debt securities	70,426		2,009		(286		)	72,149
Commingled fixed income securities	1,675		—		(19		)	1,656
Mortgage-backed / asset-backed securities	65,679		960		(300		)	66,339
Total	$	218,512	$	4,327	$	(719	)	$	222,120

	December 31, 2018
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
Government and related securities	$	109,776	$	47	$	(1,336	)	$	108,487
Corporate debt securities	58,714		4		(1,780		)	56,938
Commingled fixed income securities	1,637		—		(67		)	1,570
Mortgage-backed / asset-backed securities	100,186		167		(2,019		)	98,334
Total	$	270,313	$	218	$	(5,202	)	$	265,329

Investment Securities in a Loss Position

Investment securities in a loss position were as follows:

	December 31, 2019				December 31, 2018
	Fair Value		Gross unrealized losses		Fair Value		Gross unrealized losses
Greater than 12 continuous months	$	9,227	$	136	$	177,331	$	4,355
Less than 12 continuous months	52,521		583		48,318		847
Total	$	61,748	$	719	$	225,649	$	5,202

Available-For-Sale Securities

At December 31, 2019, scheduled maturities of available-for-sale securities were as follows:

	Amortized cost		Estimated fair value
Within 1 year	$	35,393	$	35,495
After 1 year through 5 years	49,647		50,426
After 5 years through 10 years	59,265		60,345
After 10 years	74,207		75,854
Total	$	218,512	$	222,120

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

The fair value of our derivative instruments at December 31, 2019 and 2018 was as follows:

		December 31,
Designation of Derivatives	Balance Sheet Location	2019			2018
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	$	207		$	61
	Accounts payable and accrued liabilities	(56		)	(104		)
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	3,049			1,970
	Accounts payable and accrued liabilities	(1,346		)	(631		)
	Total derivative assets	3,256			2,031
	Total derivative liabilities	(1,402		)	(735		)
	Total net derivative asset	$	1,854		$	1,296

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of cash flow hedging relationships for the years ended December 31, 2019 and 2018:

	Years Ended December 31,
	Derivative Gain (Loss) Recognized in AOCI (Effective Portion)					Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)
Derivative Instrument	2019		2018				2019		2018
Foreign exchange contracts	$	371	$	106		Revenue	$	72	$	11
						Cost of sales	104		51
Interest rate swap	$	—	$	(1,776	)	Interest Expense	—		—
							$	176	$	62

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the mark-to-market adjustment on our non-designated derivative instruments for the years ended December 31, 2019 and 2018:

		Years Ended December 31,
		Derivative Gain (Loss) Recognized in Earnings
Derivatives Instrument	Location of Derivative Gain (Loss)	2019		2018
Foreign exchange contracts	Selling, general and administrative expense	$	5,154	$	(33,453	)

Fair Value, by Balance Sheet Grouping

The carrying value and estimated fair value of our debt at December 31, 2019 and 2018 was as follows:

	December 31,
	2019		2018
Carrying value	$	2,739,722	$	3,265,608
Fair value	$	2,572,794	$	3,003,678