Derivative instruments and hedging activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary Of Notional Amounts Of Derivative Instruments

We held forward contracts with the following notional amounts:

(In thousands)	U.S. Dollar Equivalent
	As of December 31, 2019		As of December 31, 2018
Chinese yuan	$	32,970	$	45,520
Euro	130,122		134,654
Japanese yen	53,527		15,141
Hungarian forint	95,228		35,384
British pound	13,988		9,948
Malaysian ringgit	32,725		27,778
Korean won	$	24,728	$	8,331
Total forward contracts notional amount	$	383,288	$	276,756

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

The following tables present the fair value of derivative instruments on our Consolidated Balance Sheets and the effect of derivative instruments on our Consolidated Statements of Income.   

    

	Asset Derivatives
	December 31, 2019			December 31, 2018
(In thousands)
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts - ST forwards	Prepaid expenses and other current assets	$	7,039	Prepaid expenses and other current assets	$	7,594
Foreign exchange contracts - LT forwards	Other long-term assets	970		Other long-term assets	1,380
Total derivatives designated as hedging instruments		$	8,009		$	8,974
Derivatives not designated as hedging instruments
Foreign exchange contracts - ST forwards	Prepaid expenses and other current assets	$	200	Prepaid expenses and other current assets	$	395
Total derivatives not designated as hedging instruments		$	200		$	395
Total derivatives		$	8,209		$	9,369

   

	Liability Derivatives
	December 31, 2019				December 31, 2018
(In thousands)
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign exchange contracts - ST forwards	Other current liabilities	$	(2,089	)	Other current liabilities	$	(662	)
Foreign exchange contracts - LT forwards	Other long-term liabilities	(351		)	Other long-term liabilities	(191		)
Total derivatives designated as hedging instruments		$	(2,440	)		$	(853	)
Derivatives not designated as hedging instruments
Foreign exchange contracts - ST forwards	Other current liabilities	$	(432	)	Other current liabilities	$	(630	)
Total derivatives not designated as hedging instruments		$	(432	)		$	(630	)
Total derivatives		$	(2,872	)		$	(1,483	)

Derivative Instruments, Gain (Loss)

The following tables present the effect of derivative instruments on our Consolidated Statements of Income for the years ended December 31, 2019 and 2018, respectively:

December 31, 2019
(In thousands)
Derivatives in Cash Flow Hedging Relationship	Gain or (Loss) Recognized in OCI on Derivative			Location of Gain or (Loss) Reclassified from Accumulated OCI into Income	Gain or (Loss) Reclassified from Accumulated OCI into Income
Foreign exchange contracts - forwards	$	(1,286	)	Net sales	$	11,709
Foreign exchange contracts - forwards	(707		)	Cost of sales	(482		)
Foreign exchange contracts - forwards	(636		)	Operating expenses	(383		)
Total	$	(2,629	)		$	10,844

December 31, 2018
(In thousands)
Derivatives in Cash Flow Hedging Relationship	Gain or (Loss) Recognized in OCI on Derivative			Location of Gain or (Loss) Reclassified from Accumulated OCI into Income	Gain or (Loss) Reclassified from Accumulated OCI into Income
Foreign exchange contracts - forwards	$	17,422		Net sales	$	(210	)
Foreign exchange contracts - forwards	(2,591		)	Cost of sales	680
Foreign exchange contracts - forwards	(2,306		)	Operating expenses	916
Total	$	12,525			$	1,386

(In thousands)
Derivatives not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	Amount of Gain (Loss) Recognized in Income			Amount of Gain (Loss) Recognized in Income
		December 31, 2019			December 31, 2018
Foreign exchange contracts - forwards	Net foreign exchange gain/(loss)	$	(348	)	$	343
Total		$	(348	)	$	343