XML 89 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Shareholders' Equity
3 Months Ended
Mar. 31, 2020
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
In November 2016, our board of directors authorized a share repurchase program and as of March 31, 2020 had authorized the repurchase of ordinary shares having an aggregate purchase price of up to $1.5 billion, exclusive of any brokerage commissions. Under this program, which has no expiration date, we may repurchase ordinary shares from time to time on the open market.  The timing and amount of repurchases will depend on a variety of factors, including the price of our ordinary shares, alternative investment opportunities, restrictions under the credit agreement that we entered into in June 2015 and subsequently amended, which we refer to as the amended credit agreement, corporate and regulatory requirements and market conditions. The share repurchase program may be modified, suspended or discontinued at any time without prior notice. In the three months ended March 31, 2020, we spent a total of $139.1 million to purchase 1.1 million of our ordinary
shares under the share repurchase program at an average total purchase price, including commissions, of $122.91 per share. All ordinary shares repurchased were canceled. As of March 31, 2020, the remaining amount authorized under the share repurchase program was $438.7 million.
Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss as of March 31, 2020 and December 31, 2019 were as follows (in thousands): 
 
Net Unrealized
Gain (Loss) From Hedging
Activities
 
Foreign
Currency
Translation
Adjustments
 
Total
Accumulated
Other
Comprehensive
Loss
Balance at December 31, 2019
$
(1,325
)
 
$
(222,068
)
 
$
(223,393
)
Other comprehensive loss before reclassifications
(4,200
)
 
(29,990
)
 
(34,190
)
Amounts reclassified from accumulated other comprehensive loss
147

 

 
147

Other comprehensive loss, net
(4,053
)
 
(29,990
)
 
(34,043
)
Balance at March 31, 2020
$
(5,378
)
 
$
(252,058
)
 
$
(257,436
)

During the three months ended March 31, 2020, other comprehensive loss reflects foreign currency translation adjustments, primarily due to the weakening of the euro against the U.S. dollar, and the net unrealized loss on derivatives that qualify as cash flow hedges.