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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative instruments and the balance sheet lines in which they are recorded
The following table sets forth the fair values of derivative instruments held by the Company as of June 30, 2017, and December 31, 2016 and the balance sheet lines in which they are recorded:
 
Fair Value Asset (Liability)
 
 
 
June 30, 2017
 
December 31, 2016
 
Balance Sheet Caption
Foreign currency forward
$
242

 
$
1,058

 
Prepaid / Other assets
Foreign currency forward
(1,658
)
 
(705
)
 
Other accrued expenses
Schedule of net investment hedges in accumulated other comprehensive income (loss)
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
(Loss) gain on euro-denominated debt
$
(35,318
)
 
$
4,500

 
$
(65,839
)
 
$
(1,665
)
Tax benefit (expense)
12,362

 
(1,575
)
 
23,044

 
583

Net (loss) gain on net investment hedges, net of tax
$
(22,956
)
 
$
2,925

 
$
(42,795
)
 
$
(1,082
)
Assets and liabilities measured at fair value on a recurring basis
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016:
 
June 30, 2017
 
December 31, 2016
 
Level 2
 
Level 2
Assets:
 
 
 
Foreign currency cash flow hedges
$
242

 
$
1,058

Liabilities:
 
 
 
Foreign currency cash flow hedges
1,658

 
705