Derivative Instruments and Hedging Activities - (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of gains (losses) on derivative instruments

The impact on accumulated other comprehensive loss and earnings from derivative instruments that qualified as cash flow hedges for the three and six months ended June 30, 2019 and 2018 was as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
Interest Rate Contracts:	2019			2018			2019			2018
Gain (loss) recognized in accumulated other comprehensive loss, net of tax	$	(2,698	)	$	1,372		$	(4,039	)	$	4,409
Loss (gain) reclassified from accumulated other comprehensive loss to interest expense, net of tax	(383		)	(18		)	(783		)	149

Schedule of foreign exchange gain (loss) of outstanding derivatives

The foreign exchange loss in our condensed consolidated statements of income included the following gains and losses associated with foreign exchange contracts not designated as hedging instruments (in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
Foreign Exchange Forward Contracts:	2019		2018			2019			2018
Gain (loss) recognized in foreign exchange loss	$	121	$	(12,238	)	$	(3,288	)	$	(8,487	)

Schedule of the fair value of outstanding derivatives

The following tables summarize the fair value of outstanding derivatives (in thousands):

	June 30, 2019
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	13	Accrued liabilities	$	128
				Other non-current liabilities	1,317
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	1,732		Accrued liabilities	142
Total fair value of derivative instruments		$	1,745		$	1,587

	December 31, 2018
	Asset Derivatives			Liability Derivatives
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Other current assets	$	1,929	Accrued liabilities	$	—
	Other non-current assets	2,141
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts	Other current assets	1,194		Accrued liabilities	1,460
Total fair value of derivative instruments		$	5,264		$	1,460

Schedule of offsetting assets

The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands):

	June 30, 2019
	Gross Amounts of Recognized Assets/ Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet
Description									Derivative Financial Instruments			Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	1,745		$	—	$	1,745		$	(512	)	$	—	$	1,233
Derivative liabilities	(1,587		)	—		(1,587		)	512			—		(1,075		)

	December 31, 2018
	Gross Amounts of Recognized Assets/ Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet
Description									Derivative Financial Instruments			Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	5,264		$	—	$	5,264		$	(935	)	$	—	$	4,329
Derivative liabilities	(1,460		)	—		(1,460		)	935			—		(525		)

Schedule of offsetting liabilities

The following tables summarize the potential effect on our condensed consolidated balance sheets of offsetting our interest rate contracts and foreign exchange forward contracts subject to such provisions (in thousands):

	June 30, 2019
	Gross Amounts of Recognized Assets/ Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet
Description									Derivative Financial Instruments			Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	1,745		$	—	$	1,745		$	(512	)	$	—	$	1,233
Derivative liabilities	(1,587		)	—		(1,587		)	512			—		(1,075		)

	December 31, 2018
	Gross Amounts of Recognized Assets/ Liabilities			Gross Amounts Offset in the Consolidated Balance Sheet		Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet			Gross Amounts Not Offset in the Consolidated Balance Sheet
Description									Derivative Financial Instruments			Cash Collateral Received (Pledged)		Net Amount
Derivative assets	$	5,264		$	—	$	5,264		$	(935	)	$	—	$	4,329
Derivative liabilities	(1,460		)	—		(1,460		)	935			—		(525		)