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Non-Derivative Financial Instrument
6 Months Ended
Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Non-Derivative Financial Instrument
Non-Derivative Financial Instrument

As of June 30, 2018, the Company had designated €700,000 of the face value of Euro-denominated debt, a non-derivative financial instrument, as a hedge of the foreign currency exchange rate exposure of an equal amount to the Company's euro-denominated net investment in a European subsidiary. As of June 30, 2018, the euro-denominated debt has a total carrying amount of $817,880, which is included in long-term debt in the Company’s condensed consolidated balance sheet. For the three and six months ended June 30, 2018, the Company recorded a gain, net of tax, of approximately $32,755 and $16,045 respectively, in the net investment hedge section of the accumulated other comprehensive loss in the Company’s condensed consolidated balance sheet and statement of income and comprehensive income. No hedge ineffectiveness was recognized in income.