Derivatives and Hedging (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the location and carrying amounts of the derivative instruments and the foreign currency denominated debt, a non-derivative financial instrument, that are designated and qualify as part of hedging relationships:

		September 30, 2019				December 31, 2018
Instrument	Balance sheet location	Notional		Balance		Notional		Balance
Cash flow hedges:
Interest rate swaps	Other current liabilities	$	800,000	$	29,832	$	500,000	$	6,345
Net investment hedges:
Cross-currency swap	Prepaid expenses and other current assets	—		—		$	500,000	$	6,006
Forward contracts	Prepaid expenses and other current assets	$	925,810	$	55,050	—		—
Foreign currency debt	Long-term debt	€	700,000	$	765,870	€	700,000	$	801,010

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The table below presents gains and losses related to designated cash flow hedges and net investment hedges:

	Gain (Loss) Recognized in AOCL Before Reclassifications						Gain Recognized in Interest Expense For Excluded Components
	2019			2018			2019		2018
Three Months Ended September 30,
Cash Flow Hedges:
Interest rate contract	$	(3,766	)	$	1,079		$	—	$	—
Net Investment Hedges:
Cross-currency swap	$	—		$	(6,536	)	$	—	$	3,256
Forward contracts	35,796			—			5,596		—
Foreign currency debt	30,030			5,600			—		—
Total	$	62,060		$	143		$	5,596	$	3,256
Nine Months Ended September 30,
Cash Flow Hedges:
Interest rate contract	$	(25,332	)	$	1,079		$	—	$	—
Net Investment Hedges:
Cross-currency swap	$	2,936		$	(6,536	)	$	2,294	$	3,256
Forward contracts	41,436			—			12,220		—
Foreign currency debt	35,140			27,581			—		—
Total	$	54,180		$	22,124		$	14,514	$	3,256

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

The table below presents gains and losses related to designated cash flow hedges and net investment hedges:

	Gain (Loss) Recognized in AOCL Before Reclassifications						Gain Recognized in Interest Expense For Excluded Components
	2019			2018			2019		2018
Three Months Ended September 30,
Cash Flow Hedges:
Interest rate contract	$	(3,766	)	$	1,079		$	—	$	—
Net Investment Hedges:
Cross-currency swap	$	—		$	(6,536	)	$	—	$	3,256
Forward contracts	35,796			—			5,596		—
Foreign currency debt	30,030			5,600			—		—
Total	$	62,060		$	143		$	5,596	$	3,256
Nine Months Ended September 30,
Cash Flow Hedges:
Interest rate contract	$	(25,332	)	$	1,079		$	—	$	—
Net Investment Hedges:
Cross-currency swap	$	2,936		$	(6,536	)	$	2,294	$	3,256
Forward contracts	41,436			—			12,220		—
Foreign currency debt	35,140			27,581			—		—
Total	$	54,180		$	22,124		$	14,514	$	3,256