Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Notional Amount of Outstanding Derivatives

The following table presents the gross notional amount of outstanding derivative instruments:

	December 31,
(in thousands)	2019		2018
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	471,822	$	399,348
Derivative instruments not designated as hedges:
Currency forward contracts	214,086		379,701

Balance Sheet Classification and Fair Value of Derivative Instruments

The following table presents the balance sheet classification and fair value of derivative instruments:

		December 31,
(in thousands)	Balance Sheet Classification	2019		2018
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	11,855	$	11,818
Currency forward contracts	Other non-current assets	4,159		9,922
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,313		47
Currency forward contracts	Other long-term liabilities	768		1
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	2,146		1,797
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	953		970

Effect and Classification of Derivative Instruments

The following table presents the statement of operations effect and classification of derivative instruments for the years ended December 31, 2019, 2018 and 2017:

		For the Year Ended December 31,
(in thousands)	Statement Of Operations Classification	2019		2018		2017
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income, net of tax	—	$	6,669	$	23,503	$	(15,862)
Gain reclassified from accumulated other comprehensive loss to income for the effective portion	Net sales	338		62		144
Gain (loss) reclassified from accumulated other comprehensive loss to income for the effective portion	Cost of sales	9,558		(7,604)		1,195
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	(43)		19		6
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	2,380		7,009		2,843
Loss reclassified from accumulated other comprehensive loss to income as a result of cash flow hedge discontinuance	Other non-operating expense	—		—		(178)
Derivative instruments not designated as hedges:
Gain (loss) recognized in income	Other non-operating expense	411		3,334		(3,943)