Derivatives and Hedging (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Instruments by Contract Type and Location of Asset and/or Liability on Consolidated Condensed Balance Sheets

The following table summarizes the fair value of the Company's derivative instruments as well as the location of the asset and/or liability on the consolidated condensed balance sheets at March 31, 2021 and December 31, 2020 (in thousands):

	Balance Sheet Location	Fair Value of Asset Derivatives
		March 31, 2021		December 31, 2020
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Other current assets	$	2,376	$	37
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Other current assets	8,013		53
Total asset position		$	10,389	$	90

	Balance Sheet Location	Fair Value of Liability Derivatives
		March 31, 2021		December 31, 2020
Derivatives designated as cash flow hedging instruments:
Foreign currency forward contracts	Accrued AP and expenses	$	186	$	38
Interest rate hedge contracts	Accrued AP and expenses	4,743		4,780
Interest rate hedge contracts	Other long-term liabilities	9,304		13,142
		14,233		17,960
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Accrued AP and expenses	533		1,515
Total liability position		$	14,766	$	19,475

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

The following tables summarize the net effect of all cash flow hedges on the consolidated condensed financial statements for the three months ended March 31, 2021 and 2020 (in thousands):

	Gain/(Loss) Recognized in Other Comprehensive Income (Effective Portion)
	Three Months Ended March 31,
Derivatives designated as cash flow hedging instruments	2021		2020
Foreign currency forward contracts	$	2,191	$	2,410
Cross-currency debt swap agreements	—		15,081
Interest rate hedge agreements	2,690		(11,233)
	$	4,881	$	6,258

	Gain/(Loss) Reclassified from Other Comprehensive Income into Earnings (Effective Portion)
	Three Months Ended March 31,
Derivatives designated as cash flow hedging instruments	2021		2020
Foreign currency forward contracts	$	(248)	$	233
Cross-currency debt swap agreements	—		7,048
Interest rate hedge agreements	(1,185)		(434)
	$	(1,433)	$	6,847

Location of Gains in Consolidated Condensed Statements of Operations that were Recognized and Derivative Contract Type

The following table summarizes the location of net gains and losses in the consolidated condensed statements of operations that were recognized during the three months ended March 31, 2021 and 2020, respectively, in addition to the derivative contract type (in thousands):

	Location of Net Gain Recognized in Income on Derivative Instruments	Amount of Net Gain Recognized in Income on  Derivative Instruments
Derivatives not designated as hedging instruments		Three Months Ended March 31,
		2021		2020
Foreign currency forward contracts	Other expense, net	$	10,628	$	5,856