Hedging Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of net investment hedges and Income Statement impact of hedging instruments

The following tables present the effect of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provide information regarding the location and amounts of pretax gains or losses of derivatives:



(in thousands)		Three Months Ended June 30,
		2019		2018

Financial statement line items in which effects of cash flow hedges are recorded	Cost of revenue	$	262,250	$	248,313
Foreign exchange contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income into income		$	2,509	$	(833	)



(in thousands)		Six Months Ended June 30,
		2019		2018

Financial statement line items in which effects of cash flow hedges are recorded	Cost of revenue	$	506,709	$	482,870
Foreign exchange contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income into income		$	3,920	$	(2,668	)

Schedule of hedging instruments

Fair Values of Hedging Instruments Designated as Hedges in Consolidated Balance Sheets

The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following derivative instruments, unless otherwise noted:



(in thousands)		Hedging Assets
		June 30, 2019		December 31, 2018

Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Other current assets	$	5,185	$	8,163
Cross currency swaps	Other long-term assets	2,930		1,789
Foreign currency exchange contracts	Other long-term assets	291		—
Total derivative instruments presented as hedge instruments on the balance sheet		8,406		9,952
Gross amounts subject to master netting arrangements not offset on the balance sheet		514		603
Net amount		$	7,892	$	9,349

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(in thousands)		Hedging Liabilities
		June 30, 2019		December 31, 2018

Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Accrued liabilities	$	538	$	603
Foreign currency exchange contracts	Other long-term liabilities	319		—
Total derivative instruments presented as cash flow hedges on the balance sheet		857		603
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet⁽¹⁾	Long-term debt	101,119		101,777
Total hedging instruments presented on the balance sheet		101,976		102,380
Gross amounts subject to master netting arrangements not offset on the balance sheet		514		603
Net amount		$	101,462	$	101,777

(1) Amounts represent reported carrying amounts of our foreign currency denominated debt. See "Note 17. Fair Value Measurements" for information regarding the fair value of our long-term debt.