Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

As of September 30, 2021 and December 31, 2020, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands):

		Asset / (Liability) Derivatives
Derivatives designated as hedging instruments	Balance Sheet Caption	September 30, 2021		December 31, 2020
Net Investment Hedges
Cross-currency swaps	Other assets	$	4,570	$	—
Cross-currency swaps	Other long-term liabilities	—		(5,000)

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

The following table summarizes the income recognized in accumulated other comprehensive income (loss) ("AOCI") on derivative contracts designated as hedging instruments as of September 30, 2021 and December 31, 2020, and the amounts reclassified from AOCI into earnings for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands):

	Amount of Loss Recognized in AOCI on Derivatives (Effective Portion, net of tax)					Amount of Income (Loss) Reclassified from AOCI into Earnings
						Three months ended September 30,				Nine months ended September 30,
	As of September 30, 2021		As of December 31, 2020		Location of Income Reclassified from AOCI into Earnings (Effective Portion)	2021		2020		2021		2020
Net Investment Hedges
Cross-currency swaps	$	3,630	$	(3,580)	Other income (expense), net	$	—	$	—	$	—	$	—

Derivatives Not Designated as Hedging Instruments

The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of operations (dollars in thousands):

		Amount of Income Recognized in Earnings on Derivatives
		Three months ended September 30,				Nine months ended September 30,
	Location of Income Recognized in Earnings on Derivatives	2021		2020		2021		2020
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other income (expense), net	$	2,220	$	800	$	5,080	$	1,280

Fair Value Measurements, Recurring and Nonrecurring

Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 are shown below (dollars in thousands):  

Description	Frequency	Asset / (Liability)		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
September 30, 2021
Cross-currency swaps	Recurring	$	4,570	$	—	$	4,570	$	—
Foreign exchange contracts	Recurring	$	1,260	$	—	$	1,260	$	—
December 31, 2020
Cross-currency swaps	Recurring	$	(5,000)	$	—	$	(5,000)	$	—
Foreign exchange contracts	Recurring	$	140	$	—	$	140	$	—