Financial Instruments and Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2019

Financial Instruments And Fair Value Measurement [Abstract]

Summary of Effects of Interest Rate Swap Agreements and Foreign Currency Foreign Exchange Contracts on Result of Operations

The following table presents the effects of our interest rate swap agreements and our foreign currency foreign exchange contracts on our results of operations for the three years ended December 31 (in thousands):

	Gain/(Loss) recognized in AOCI
	December 31,			December 31,			December 31,
	2019			2018			2017
Cash Flow Hedge relationships
Interest rate swap agreements (a)	$	(3,925	)	$	(2,805	)	$	6,679
Net Investment Hedge relationships
Foreign currency foreign exchange contracts	$	(18,328	)	$	75,059		$	(64,333	)

(a) The amount of gain (loss) reclassified out of AOCI into interest expense, net was $3.4 million, $6.7 million and $(2.4) million during 2019, 2018 and 2017, respectively.

Summary of Assets and Liabilities Recorded at Fair Value on Recurring Basis

The following tables present the assets and liabilities recorded at fair value on a recurring basis:

	Balance at		Balance Sheet	Basis of Fair Value Measurement
(in thousands)	December 31, 2019		Location	Level 1		Level 2		Level 3
Assets:
Money market mutual funds	$	60,175	Other assets		60,175
Certificates of deposit		2,200	Other assets		2,200
Available for sale securities		70,478	Other assets		70,478
Deferred compensation assets		35,510	Other assets		35,510
Interest rate swap agreements		-	Accounts Receivable, net				-
Foreign currency exchange contracts		10,343	Other current assets				10,343
	$	178,706			168,363		10,343		-
Liabilities:
Deferred compensation liability		35,510	Other noncurrent liabilities		35,510
	$	35,510			35,510		-		-
	Balance at		Balance Sheet	Basis of Fair Value Measurement
(in thousands)	December 31, 2018		Location	Level 1		Level 2		Level 3
Assets:
Money market mutual funds	$	106,530	Other assets		106,530
Certificates of deposit		5,415	Other assets		5,415
Available for sale securities		55,594	Other assets		55,594
Deferred compensation assets		32,998	Other assets		32,998
Interest rate swap agreements		3,925	Accounts Receivable, net				3,925
Foreign currency exchange contracts		8,908	Other current assets				8,908
	$	213,370			200,537		12,833		-
Liabilities:
Deferred compensation liability	$	32,998	Other noncurrent liabilities		32,998
	$	32,998			32,998		-		-