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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair values of hedge instruments on the unaudited condensed consolidated balance sheets
The fair value of hedge instruments recognized on the unaudited condensed consolidated balance sheets was as follows:
(in thousands)June 30,December 31,
Balance Sheet LocationHedge Instrument Type20202019
Prepaid and other assets (1)
Foreign exchange forward$3,800  $4,549  
Other assetsForeign exchange forward924  1,109  
Accrued expenses and other liabilities (1)
Foreign exchange forward1,553  2,561  
Interest rate swap3,498  1,862  
Other noncurrent liabilitiesForeign exchange forward297  115  
Interest rate swap—  789  
(1) Excludes less than $0.1 million related to hedges deemed ineffective as of June 30, 2020.
Effect of hedge instruments on accumulated other comprehensive loss, net of tax
The hedge instrument gain (loss) recognized in accumulated other comprehensive loss, net of tax was as follows:
 Three months endedSix months ended
 June 30,June 30,
(in thousands)2020201920202019
Type of hedge    
Foreign exchange forward$(5,637) $107  $3,830  $2,194  
Interest rate swap (157) (1,513) (2,222) (2,241) 
 Total$(5,794) $(1,406) $1,608  $(47) 
Effect of hedge instrument in the unaudited condensed consolidated statement of operations
The hedge instrument gain (loss) recognized on the unaudited condensed consolidated statements of operations was as follows:
 Three months endedSix months ended
 June 30,June 30,
(in thousands)2020201920202019
Location of gain (loss) in statement of operations    
Foreign exchange forward:
Cost of goods sold$232  $2,993  $1,774  $4,599  
Selling, general and administrative (1)(2)
(2,063) 131  (529) (183) 
Total $(1,831) $3,124  $1,245  $4,416  
Interest Rate Swap:
Interest expense, net$(902) $(166) $(1,380) $(323) 
Total$(902) $(166) $(1,380) $(323) 
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(1) Relates to net gains (losses) on foreign exchange forward contracts derived from previously designated cash flow hedges.
(2) Excludes net losses of $0.2 million and net gains of $0.4 million reclassified out of accumulated other comprehensive loss, net of tax related to hedges deemed ineffective during the three and six months ended June 30, 2020, respectively.