Fair Value Measurements and Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis.

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Money market funds	$	73,228	$	434,791	$	—	$	508,019
Equity securities	—		26,583		—		26,583
Commingled fixed income securities	1,722		19,669		—		21,391
Government and related securities	16,776		16,757		—		33,533
Corporate debt securities	—		71,433		—		71,433
Mortgage-backed / asset-backed securities	—		220,678		—		220,678
Derivatives
Foreign exchange contracts	—		3,776		—		3,776
Total assets	$	91,726	$	793,687	$	—	$	885,413
Liabilities:
Derivatives
Interest rate swaps	$	—	$	(2,163)	$	—	$	(2,163)
Foreign exchange contracts	—		(1,960)		—		(1,960)
Total liabilities	$	—	$	(4,123)	$	—	$	(4,123)

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Investment securities
Money market funds	$	161,441	$	240,364	$	—	$	401,805
Equity securities	—		21,979		—		21,979
Commingled fixed income securities	1,656		18,404		—		20,060
Government and related securities	64,572		17,478		—		82,050
Corporate debt securities	—		72,149		—		72,149
Mortgage-backed / asset-backed securities	—		66,339		—		66,339
Derivatives
Foreign exchange contracts	—		3,256		—		3,256
Total assets	$	227,669	$	439,969	$	—	$	667,638
Liabilities:
Derivatives
Foreign exchange contracts	$	—	$	(1,402)	$	—	$	(1,402)
Total liabilities	$	—	$	(1,402)	$	—	$	(1,402)

Schedule of Available-for-sale Securities Reconciliation

Available-for-sale securities consisted of the following:

	December 31, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Government and related securities	$	31,882	$	157	$	(78)	$	31,961
Corporate debt securities	71,174		614		(355)		71,433
Commingled fixed income securities	1,706		16		—		1,722
Mortgage-backed / asset-backed securities	220,659		734		(715)		220,678
Total	$	325,421	$	1,521	$	(1,148)	$	325,794

	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Government and related securities	$	80,732	$	1,358	$	(114)	$	81,976
Corporate debt securities	70,426		2,009		(286)		72,149
Commingled fixed income securities	1,675		—		(19)		1,656
Mortgage-backed / asset-backed securities	65,679		960		(300)		66,339
Total	$	218,512	$	4,327	$	(719)	$	222,120

Investment Securities in a Loss Position

Investment securities in a loss position were as follows:

	December 31, 2020				December 31, 2019
	Fair Value		Gross unrealized losses		Fair Value		Gross unrealized losses
Greater than 12 continuous months	$	2,369	$	76	$	9,227	$	136
Less than 12 continuous months	132,267		1,072		52,521		583
Total	$	134,636	$	1,148	$	61,748	$	719

Available-For-Sale Securities

At December 31, 2020, scheduled maturities of available-for-sale securities were as follows:

	Amortized cost		Estimated fair value
Within 1 year	$	17,110	$	17,152
After 1 year through 5 years	7,814		8,000
After 5 years through 10 years	42,553		42,674
After 10 years	257,944		257,968
Total	$	325,421	$	325,794

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of our derivative instruments was as follows:

		December 31,
Designation of Derivatives	Balance Sheet Location	2020		2019
Derivatives designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	$	96	$	207
	Accounts payable and accrued liabilities	(112)		(56)
Interest rate swaps	Other noncurrent liabilities	(2,163)		—
Derivatives not designated as hedging instruments
Foreign exchange contracts	Other current assets and prepayments	3,680		3,049
	Accounts payable and accrued liabilities	(1,848)		(1,346)
	Total derivative assets	3,776		3,256
	Total derivative liabilities	(4,123)		(1,402)
	Total net derivative (liability) asset	$	(347)	$	1,854

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the results of cash flow hedging relationships:

	Years Ended December 31,
	Derivative Gain (Loss) Recognized in AOCI (Effective Portion)				Location of Gain (Loss) (Effective Portion)	Gain (Loss) Reclassified from AOCI to Earnings (Effective Portion)
Derivative Instrument	2020		2019			2020		2019
Foreign exchange contracts	$	(317)	$	371	Revenue	$	(161)	$	72
					Cost of sales	11		104
Interest rate swaps	(2,163)		—		Interest Expense	—		—
	$	(2,480)	$	371		$	(150)	$	176

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following represents the mark-to-market adjustment on our non-designated derivative instruments:

		Years Ended December 31,
		Derivative Gain (Loss) Recognized in Earnings
Derivatives Instrument	Location of Derivative Gain (Loss)	2020		2019
Foreign exchange contracts	Selling, general and administrative expense	$	5,298	$	5,154

Fair Value, by Balance Sheet Grouping

The carrying value and estimated fair value of our debt was as follows:

	December 31,
	2020		2019
Carrying value	$	2,564,393	$	2,739,722
Fair value	$	2,479,895	$	2,572,794