Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedges, Assets [Abstract]

Gross Notional Amount Of Outstanding Derivative Instruments

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

(in thousands)	March 31, 2020		December 31, 2019		March 31, 2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	458,823	$	471,822	$	399,068
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	205,030		214,086		208,941

Balance Sheet Classification And Fair Value Of Derivative Instruments

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

(in thousands)	Balance Sheet Classification	March 31, 2020		December 31, 2019		March 31, 2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	18,945	$	11,855	$	14,366
Currency forward contracts	Other non-current assets	10,520		4,159		10,014
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	231		1,313		149
Currency forward contracts	Other long-term liabilities	—		768		—
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	4,449		2,146		971
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	978		953		349

The following table presents the statement of operations effect and classification of derivative instruments:

	Statement of Operations Classification	Three Months Ended March 31,
(in thousands)		2020		2019
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income (loss), net of tax	—	$	14,362	$	3,268
Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion	Net sales	(122)		35
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	2,795		1,196
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance	Other non-operating income	1,111		—
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	—		(5)
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	—		1,449
Derivative instruments not designated as cash flow hedges:
Gain recognized in income	Other non-operating income	1,649		563