Hedging Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Details of net investment hedges and Income Statement impact of hedging instruments

The following tables present the effect of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provide information regarding the location and amounts of pretax gains or losses of derivatives:



(in thousands)		Three Months Ended September 30,
		2019		2018

Financial statement line items in which effects of cash flow hedges are recorded	Cost of revenue	$	260,353	$	239,805
Foreign exchange contracts
Amount of gain reclassified from accumulated other comprehensive income into income		$	3,171	$	256



(in thousands)		Nine Months Ended September 30,
		2019		2018

Financial statement line items in which effects of cash flow hedges are recorded	Cost of revenue	$	767,062	$	722,675
Foreign exchange contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income into income		$	7,091	$	(2,412	)

Schedule of hedging instruments

Fair Values of Hedging Instruments Designated as Hedges in Consolidated Balance Sheets

The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following derivative instruments, unless otherwise noted:



(in thousands)		Hedging Assets
		September 30, 2019		December 31, 2018

Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Other current assets	$	7,079	$	8,163
Cross currency swaps	Other long-term assets	7,040		1,789
Foreign currency exchange contracts	Other long-term assets	1,118		—
Total derivative instruments presented as hedge instruments on the balance sheet		15,237		9,952
Gross amounts subject to master netting arrangements not offset on the balance sheet		148		603
Net amount		$	15,089	$	9,349

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(in thousands)		Hedging Liabilities
		September 30, 2019		December 31, 2018

Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Accrued liabilities	$	121	$	603
Foreign currency exchange contracts	Other long-term liabilities	27		—
Total derivative instruments presented as cash flow hedges on the balance sheet		148		603
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet⁽¹⁾	Long-term debt	97,165		101,777
Total hedging instruments presented on the balance sheet		97,313		102,380
Gross amounts subject to master netting arrangements not offset on the balance sheet		148		603
Net amount		$	97,165	$	101,777

(1) Amounts represent reported carrying amounts of our foreign currency denominated debt. See "Note 18. Fair Value Measurements" for information regarding the fair value of our long-term debt.