Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings.



	December 31,
	2018				2017
	Recorded Amount		Fair Value		Recorded Amount		Fair Value
	(In thousands)
Long-term debt	$	1,712,003	$	1,731,271	$	1,845,309	$	1,949,638

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

The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of December 31, 2018 and 2017 (in thousands):



	December 31,
	2018		2017
Foreign currency forward contracts - Other accounts receivable	$	431	$	—
Foreign currency forward contracts - Accrued expenses	$	—	$	4,954

Derivative Instruments, Gain (Loss)

The following table summarizes these net (losses) gains recognized in our consolidated statements of income during the years ended December 31, 2018, 2017 and 2016 (in thousands):



	Year Ended December 31,
	2018			2017		2016
Foreign currency forward contracts (losses) gains	$	(19,851	)	$	4,588	$	16,095