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Fair Value Measurements - (Tables)
 9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis
The following table delineates assets and liabilities that are measured at fair value on a recurring basis:
 September 30, 2021December 31, 2020
 Fair Value HierarchyFair Value Hierarchy
(in thousands)TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:        
Deferred compensation trusts(1)
$15,844 $15,844 $— $— $9,626 $9,626 $— $— 
Derivative assets(2)
Foreign currency20,977 — 20,977 — 22,667 — 22,667 — 
Commodity5,927 — 5,927 — 806 — 806 — 
Liabilities:
Derivative liabilities(2)
Foreign currency$5,781 $— $5,781 $— $2,571 $— $2,571 $— 
Commodity233 — 233 — 5,059 — 5,059 — 
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(1)    Consists of registered money market funds and an equity index fund. These investments, which are trading securities, represent the net asset value at the close of business of the period based on the last trade or official close of an active market or exchange.
(2)    Foreign currency and commodity derivatives are estimated using pricing models with market-based inputs, which take into account the present value of estimated future cash flows.
Schedule of carrying values and estimated fair values of financial instruments not required to be measured at fair value
The following summarizes information about financial instruments that are not required to be measured at fair value :
  September 30, 2021December 31, 2020
(in thousands)Fair Value
Hierarchy		Carrying
Value		Fair
Value		Carrying
Value		Fair
Value
Assets:     
Cash(1)
Level 1$1,320,302 $1,320,302 $1,180,024 $1,180,024 
Cash equivalents(2)
Level 2805,213 805,213 1,018,757 1,018,757 
Marketable securities(2)
Level 267,164 67,164 23,345 23,345 
Notes receivable, including noncurrent portion(3)
Level 310,490 10,490 28,488 28,488 
Liabilities: 
2023 Senior Notes(4)
Level 2$196,271 $201,126 $609,764 $578,554 
2024 Senior Notes(4)
Level 2378,666 400,011 496,200 494,045 
2028 Senior Notes(4)
Level 2595,607 619,932 595,134 599,220 
Other borrowings(5)
Level 24,639 4,639 4,890 4,890 
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(1)    Cash consists of bank deposits. Carrying amounts approximate fair value.
(2)    The carrying amounts of these time deposits approximate fair value because of the short-term maturity of these instruments. Amortized cost is not materially different from the fair value.
(3)    Notes receivable are carried at net realizable value which approximates fair value. Factors considered in determining the fair value include the credit worthiness of the borrower, current interest rates, the term of the note and any collateral pledged as security. Notes receivable are periodically assessed for impairment.
(4)     The fair value of the Senior Notes was estimated based on the quoted market prices and Level 2 inputs.
(5)    Other borrowings represent bank loans and other financing arrangements which mature within one year. The carrying amount of borrowings under these arrangements approximates fair value because of the short-term maturity.