Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020 and December 31, 2019 and the balance sheet lines in which they are recorded:

	Fair Value Asset (Liability)
	June 30, 2020		December 31, 2019		Balance Sheet Caption
Foreign currency forward	$	1,792	$	2,892	Prepaid and other current assets
Foreign currency forward	(2,112)		(476)		Other accrued expenses

Schedule of net investment hedges in accumulated other comprehensive income (loss)

Amounts recognized in other comprehensive earnings for the gains (losses) on net investment hedges were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Loss on euro-denominated debt	$	(36,904)	$	(4,710)	$	(13,280)	$	(1,153)
Tax benefit	8,028		989		2,889		242
Net loss on net investment hedges, net of tax	$	(28,876)	$	(3,721)	$	(10,391)	$	(911)

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, 2020 and December 31, 2019:

	June 30, 2020		December 31, 2019
	Level 2		Level 2
Assets:
Foreign currency cash flow hedges	$	1,792	$	2,892
Liabilities:
Foreign currency cash flow hedges	2,112		476