XML 48 R38.htm IDEA: XBRL DOCUMENT v3.22.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
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, 2022 and December 31, 2021 and the balance sheet lines in which they are recorded:
Fair Value Asset (Liability)
June 30, 2022December 31, 2021Balance Sheet Caption
Foreign currency forward$2,095 $2,825 Prepaid and other current assets
Foreign currency forward(1,659)(433)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,
2022202120222021
Gain (loss) on euro-denominated debt$46,742 $(18,894)$84,490 $27,539 
Tax (expense) benefit(10,539)4,269 (18,970)(6,223)
Net gain (loss) on net investment hedges, net of tax$36,203 $(14,625)$65,520 $21,316 
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, 2022 and December 31, 2021:
June 30, 2022December 31, 2021
Level 2Level 2
Assets:
Foreign currency cash flow hedges$2,095 $2,825 
Liabilities:
Foreign currency cash flow hedges1,659 433