DERIVATIVE INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The Company held the following interest rate swaps as of December 31, 2018 (dollar amounts in thousands):

Hedged Item	Current Notional Amount		Designation Date	Effective Date	Termination Date	Fixed Interest Rate		Floating Rate	Estimated Fair Value
									Assets (Liabilities)
3-month USD LIBOR Loan	$	50,000	June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	$	410
3-month USD LIBOR Loan	50,000		June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	415
1-month USD LIBOR Loan	50,000		July 12, 2016	December 31, 2016	June 30, 2019	0.825	%	1-month USD LIBOR	418
3-month USD LIBOR Loan	50,000		February 6, 2017	June 30, 2017	June 30, 2020	1.834	%	3-month USD LIBOR	619
1-month USD LIBOR Loan	100,000		February 6, 2017	June 30, 2017	June 30, 2020	1.652	%	1-month USD LIBOR	1,287
1-month USD LIBOR Loan	100,000		March 27, 2017	December 31, 2017	June 30, 2021	1.971	%	1-month USD LIBOR	1,246
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	1,491
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	1,460
1-month USD LIBOR Loan	100,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	418
1-month USD LIBOR Loan	50,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	162
1-month USD LIBOR Loan	200,000		December 13, 2017	January 1, 2018	December 31, 2024	2.313	%	1-month USD LIBOR	2,076
1-month USD LIBOR Loan	75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.220	%	1-month USD LIBOR	(2,594		)
1-month USD LIBOR Loan	75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.199	%	1-month USD LIBOR	(2,551		)
1-month USD LIBOR Loan	75,000		October 10, 2018	July 1, 2020	June 30, 2025	3.209	%	1-month USD LIBOR	(2,568		)
1-month USD LIBOR Loan	100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.885	%	1-month USD LIBOR	(797		)
1-month USD LIBOR Loan	100,000		December 18, 2018	December 30, 2022	December 31, 2027	2.867	%	1-month USD LIBOR	(873		)
Total interest rate derivatives designated as cash flow hedges	$	1,475,000							$	619

The Company held the following interest rate swaps as of December 31, 2017 (dollar amounts in thousands):

Hedged Item	Current Notional Amount		Designation Date	Effective Date	Termination Date	Fixed Interest Rate		Floating Rate	Estimated Fair Value
									Assets (Liabilities)
3-month USD LIBOR Loan	$	50,000	June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	$	675
3-month USD LIBOR Loan	50,000		June 22, 2016	December 31, 2016	June 30, 2019	1.062	%	3-month USD LIBOR	672
1-month USD LIBOR Loan	50,000		July 12, 2016	December 31, 2016	June 30, 2019	0.825	%	1-month USD LIBOR	779
3-month USD LIBOR Loan	50,000		February 6, 2017	June 30, 2017	June 30, 2020	1.834	%	3-month USD LIBOR	318
1-month USD LIBOR Loan	100,000		February 6, 2017	June 30, 2017	June 30, 2020	1.652	%	1-month USD LIBOR	858
1-month USD LIBOR Loan	100,000		March 27, 2017	December 31, 2017	June 30, 2021	1.971	%	1-month USD LIBOR	337
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	(455		)
1-month USD LIBOR Loan	150,000		December 13, 2017	January 1, 2018	December 31, 2022	2.201	%	1-month USD LIBOR	(434		)
1-month USD LIBOR Loan	100,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	(684		)
1-month USD LIBOR Loan	50,000		December 13, 2017	July 1, 2019	June 30, 2024	2.423	%	1-month USD LIBOR	(255		)
1-month USD LIBOR Loan	200,000		December 13, 2017	January 1, 2018	December 31, 2024	2.313	%	1-month USD LIBOR	(1,219		)
Total interest rate derivatives designated as cash flow hedges	$	1,050,000							$	592

The Company held the following cross-currency rate swaps designated as net investment hedges as of December 31, 2018 (dollar amounts in thousands):

	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)
Pay EUR	October 3, 2018	September 30, 2021	—	EUR	70,738	1,359
Receive U.S.$			3.01%	$	82,000
Pay EUR	October 3, 2018	September 30, 2023	—	EUR	51,760	(421		)
Receive U.S.$			2.57%	$	60,000
Pay EUR	October 3, 2018	September 30, 2025	—	EUR	38,820	(150		)
Receive U.S.$			2.19%	$	45,000
Pay GBP	October 3, 2018	September 30, 2025	1.67%	GBP	128,284	2,360
Receive U.S.$			2.71%	$	167,500
Pay CHF	October 3, 2018	September 30, 2025	—	CHF	165,172	(3,780		)
Receive GBP			1.67%	GBP	128,284
Total						$	(632	)

The Company held the following cross-currency rate swaps designated as cash flow hedges as of December 31, 2018 and 2017 (dollar amounts in thousands):

						2018			2017
	Effective Date	Termination Date	Fixed Rate	Aggregate Notional Amount		Fair Value Asset (Liability)			Fair Value Asset (Liability)
Pay CHF	October 2, 2017	October 2, 2020	1.75%	CHF	97,065	$	(215	)	$	(742	)
Receive U.S.$			4.38%	$	100,000
Pay CHF	October 2, 2017	October 2, 2021	1.85%	CHF	48,533	(422		)	(610		)
Receive U.S.$			4.46%	$	50,000
Pay CHF	October 2, 2017	October 2, 2022	1.95%	CHF	145,598	(2,193		)	(2,605		)
Receive U.S.$			4.52%	$	150,000
Total						$	(2,830	)	$	(3,957	)

Summary of Fair Value in Balance Sheet for Derivatives Designated as Hedging Instruments

The following table summarizes the fair value and presentation in the consolidated balance sheet for derivatives designated as hedging instruments:

	Fair Value as of December 31,
	2018		2017
Location on Balance Sheet(1):	(In thousands)
Derivatives designated as hedges — Assets:
Prepaid expenses and other current assets
Cash Flow Hedges
Interest rate swap(2)	$	4,654	$	1,521
Cross-currency swap	7,615		7,757
Net Investment Hedges
Cross-currency swap	$	8,888	$	—
Other assets
Cash Flow Hedges
Interest rate swap(2)	5,350		2,491
Net Investment Hedges
Cross-currency swap	$	1,774	$	—
Total Derivatives designated as hedges — Assets	$	28,281	$	11,769
Derivatives designated as hedge — Liabilities
Accrued expenses and other current liabilities
Cash Flow Hedges
Interest rate swap(2)	$	—	$	1,845
Other liabilities
Cash Flow Hedges
Interest rate swap(2)	9,385		1,575
Cross-currency swap	10,445		11,714
Net Investment Hedges
Cross-currency swap	$	11,294	$	—
Total Derivative designated as hedges — Liabilities	$	31,124	$	15,134

⁽¹⁾  The Company classifies derivative assets and liabilities as current based on the cash flows expected to be incurred within the following 12 months.

⁽²⁾  At December 31, 2018 and 2017, the total notional amounts related to the Company’s interest rate swaps were $1.5 billion and $1.1 billion, respectively.

Effect of Derivative Instruments Designated as Cash Flow Hedges on Statements of Operations

The following presents the effect of derivative instruments designated as cash flow hedges and net investment hedges on the accompanying consolidated statements of operations during the years ended December 31, 2018 and 2017:

	Balance in AOCI Beginning of Year			Amount of Gain (Loss) Recognized in AOCI			Amount of Gain (Loss) Reclassified from AOCI into Earnings			Balance in AOCI End of Year			Location in Statements of Operations
	(In thousands)
Year Ended December 31, 2018
Cash Flow Hedges
Interest rate swap	$	592		$	924		$	897		$	619		Interest income (expense)
Cross-currency swap	(5,104		)	9,062			10,148			(6,190		)	Other income (expense)
Net Investment Hedges
Cross-currency swap	—			1,723			2,355			(632		)	Interest income (expense)
	$	(4,512	)	$	11,709		$	13,400		$	(6,203	)
Year Ended December 31, 2017
Cash Flow Hedges
Interest rate swap	$	1,871		$	(1,355	)	$	(76	)	$	592		Interest income (expense)
Cross-currency swap	—			(2,070		)	3,034			(5,104		)	Other income (expense)
	$	1,871		$	(3,425	)	$	2,958		$	(4,512	)