Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the fair value of derivative instruments in the Company's Consolidated Balance Sheets as of the dates indicated (amounts in thousands):

	September 30, 2020			December 31, 2019
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	—	Other assets	$	323
Interest rate contracts	Other liabilities	46,570		Other liabilities	17,807
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other assets	2,877		Other assets	552
Foreign currency contracts	Other liabilities	17,690		Other liabilities	5,856

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table summarizes the effects of derivatives designated as cash flow hedging instruments on the consolidated financial statements for the three and nine months ended September 30, 2020 and 2019 (amounts in thousands):

	Loss recognized in OCI, net of tax
	Three Months Ended September 30,				Nine Months Ended September 30,
Derivatives designated as cash flow hedging instruments	2020		2019		2020		2019
Interest rate contracts	$	(1,089)	$	(6,245)	$	(27,953)	$	(20,160)
	Loss reclassified from OCI into income
	Three Months Ended September 30,				Nine Months Ended September 30,
Location of loss reclassified from OCI into income	2020		2019		2020		2019
Interest expense, net	$	(3,175)	$	(413)	$	(6,488)	$	(611)

Schedule of derivative instruments not designated as hedging instruments

The following table summarizes the effects of derivatives not designated as hedging instruments on the Company’s Consolidated Income Statements for the three and nine months ended September 30, 2020 and 2019 (amounts in thousands):

		Amount of gain or (loss) recognized in income
		Three Months Ended September 30,
Derivatives not designated as hedging instruments	Location of gain or (loss) recognized in income	2020		2019
Foreign currency contracts	Foreign exchange gains	$	2,280	$	4,270
Foreign currency contracts	Interest expense, net	(322)		(1,141)
Interest rate contracts	Interest expense, net	—		15
		Amount of gain or (loss) recognized in income
		Nine Months Ended September 30,
Derivatives not designated as hedging instruments	Location of gain or (loss) recognized in income	2020		2019
Foreign currency contracts	Foreign exchange gains	$	27,437	$	(3,401)
Foreign currency contracts	Interest expense, net	(2,135)		(2,628)
Interest rate contracts	Interest expense, net	—		(492)