XML 35 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Derivatives
9 Months Ended
Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Derivatives
The following table sets forth the total net fair value of derivatives:
 September 30, 2020December 31, 2019
Fair Value Measurement UsingTotal BalanceFair Value Measurement UsingTotal Balance
(In thousands)Level 1Level 2Level 3Level 1Level 2Level 3
Foreign currency exchange contracts$— $153 $— $153 $— $(172)$— $(172)
We held foreign currency exchange contracts, which resulted in a net pre-tax loss of $0.1 million and a net pre-tax gain of $0.4 million for the three months ended September 30, 2020 and 2019, respectively. For the nine months ended September 30, 2020 and 2019, we had a net pre-tax loss of $0.5 million and $8.0 thousand, respectively (see Note 16).
Details of foreign currency exchange contracts held were as follows:
Date HeldCurrencyPosition HeldNotional Value
(in millions)
Forward Rate
Unrealized Gain/(Loss) Recorded at Balance Sheet
Date
(in thousands)(1)
Settlement Date
September 30, 2020USD/Chinese Yuan RenminbiCNY$37.0 6.8297 $210 October 30, 2020
September 30, 2020USD/EuroUSD$26.0 1.1685 $(87)October 30, 2020
September 30, 2020USD/Brazilian RealUSD$1.5 5.5368 $24 October 30, 2020
September 30, 2020USD/Mexican PesoUSD$2.6 22.1285 $October 30, 2020
December 31, 2019USD/Chinese Yuan RenminbiUSD$35.0 6.9867 $100 January 23, 2020
December 31, 2019USD/Brazilian RealUSD$0.5 4.0560$(6)January 24, 2020
December 31, 2019USD/EuroUSD$28.0 1.1133$(253)January 24, 2020
December 31, 2019USD/Brazilian RealUSD$0.7 4.0870$(13)January 24, 2020
(1)Unrealized gains on foreign currency exchange contracts are recorded in prepaid expenses and other current assets. Unrealized losses on foreign currency exchange contracts are recorded in other accrued liabilities.