Derivatives (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Unsettled Purchased Foreign Currency Forward Contracts

As of March 31, 2020 and December 31, 2019, we had the following unsettled purchased foreign currency forward contracts that were entered into to hedge our operational exposure to foreign currency movements (in thousands, except for average contract rates):

Outstanding Notional Amounts as of March 31, 2020
Buy Currency	Sell Currency	Foreign Amount	USD Amount	Average Contract Rate
Polish Zloty	US Dollar	186,000	48,267	0.2595
Indian Rupee	US Dollar	3,000,000	41,318	0.0137
Singapore Dollar	US Dollar	45,000	33,120	0.7360
British Pound Sterling	US Dollar	13,200	17,197	1.3028
Australian Dollar	US Dollar	10,950	7,597	0.6938
Swedish Krona	US Dollar	24,500	2,646	0.1062

Outstanding Notional Amounts as of December 31, 2019
Buy Currency	Sell Currency	Foreign Amount	USD Amount	Average Contract Rate
Polish Zloty	US Dollar	265,000	68,971	0.2603
Indian Rupee	US Dollar	4,485,000	61,708	0.0138
Singapore Dollar	US Dollar	63,500	46,759	0.7364
British Pound Sterling	US Dollar	18,400	24,109	1.3103
Australian Dollar	US Dollar	16,500	11,521	0.6982
Swedish Krona	US Dollar	38,100	4,106	0.1075

Schedule of Outstanding Interest Rate Swaps

Interest rate swaps outstanding during the three months ended March 31, 2020 and 2019 are as follows:

Notional Amount	Interest Rate Received	Interest Rate Paid	Effective Date	Maturity Date
Designated as Hedging Instrument
$1,350 million	1 month LIBOR(1)	2.27%	December 31, 2018	December 31, 2019
$1,200 million	1 month LIBOR(1)	2.19%	December 31, 2019	December 31, 2020
$600 million	1 month LIBOR(1)	2.81%	December 31, 2020	December 31, 2021

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(1)Subject to a 0% floor.

Schedule of Estimated Fair Values of Derivatives Designated as Hedging Instruments

The estimated fair values of our derivatives designated as hedging instruments as of March 31, 2020 and December 31, 2019 are as follows (in thousands):

	Derivative Assets (Liabilities)
		Fair Value as of
Derivatives Designated as Hedging Instruments	Consolidated Balance Sheet Location	March 31, 2020		December 31, 2019
Foreign exchange contracts	Other accrued liabilities	$	(8,988)	$	—
Foreign exchange contracts	Prepaid expenses and other current assets	—		1,953
Interest rate swaps	Other accrued liabilities	(20,202)		(7,020)
Interest rate swaps	Other noncurrent liabilities	(9,988)		(7,918)
		$	(39,178)	$	(12,985)

Schedule of Effects of Derivative Instruments Net of Taxes on Other Comprehensive Income (Loss)

The effects of derivative instruments, net of taxes, on OCI for the three months ended March 31, 2020 and 2019 are as follows (in thousands):

	Amount of (Loss) Gain Recognized in OCI on Derivative, Effective Portion
	Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships	2020		2019
Foreign exchange contracts	$	(9,459)	$	(255)
Interest rate swaps	(14,359)		(5,154)
Total	$	(23,818)	$	(5,409)

		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion
Derivatives in Cash Flow Hedging Relationships	Income Statement Location	Three Months Ended March 31,
		2020		2019
Foreign exchange contracts	Cost of revenue	$	621	$	2,722
Interest rate swaps	Interest expense, net	1,214		(520)
Total		$	1,835	$	2,202