Financial Instruments And Risk Management (Tables)

9 Months Ended

Sep. 30, 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)	September 30, 2020		December 31, 2019		September 30, 2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	419,402	$	471,822	$	412,041
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	224,573		214,086		235,945

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	September 30, 2020		December 31, 2019		September 30, 2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	4,729	$	11,855	$	16,603
Currency forward contracts	Other non-current assets	3,454		4,159		4,830
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	2,034		1,313		201
Currency forward contracts	Other long-term liabilities	1,186		768		109
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	2,211		2,146		1,857
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	381		953		320

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

	Statement of Operations Classification	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2020		2019		2020		2019
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive loss, net of tax	—	$	(6,398)	$	6,315	$	4,617	$	9,119
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Net sales	80		172		123		282
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	6,906		5,087		11,527		7,208
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	60		—		1,177		—
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	—		—		—		(31)
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	—		—		—		2,380
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating income (expense), net	(1,795)		1,855		(465)		1,281