Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

v3.20.2
Financial Instruments And Risk Management (Tables)
 6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedges, Assets [Abstract]  
Gross Notional Amount Of Outstanding Derivative Instruments
The following table presents the gross notional amount of outstanding derivative instruments: 
(in thousands) June 30,
2020		 December 31,
2019		 June 30,
2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts $ 381,599    $ 471,822    $ 353,975   
Derivative instruments not designated as cash flow hedges:
Currency forward contracts 223,500    214,086    359,179   
Balance Sheet Classification And Fair Value Of Derivative Instruments
The following table presents the balance sheet classification and fair value of derivative instruments:
(in thousands) Balance Sheet Classification June 30,
2020		 December 31,
2019		 June 30,
2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts Prepaid expenses and other current assets $ 10,839    $ 11,855    $ 11,392   
Currency forward contracts Other non-current assets 6,775    4,159    6,776   
Derivative instruments in liability positions:
Currency forward contracts Accrued liabilities 80    1,313    170   
Currency forward contracts Other long-term liabilities —    768    140   
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts Prepaid expenses and other current assets 4,641    2,146    2,181   
Derivative instruments in liability positions:
Currency forward contracts Accrued liabilities 524    953    1,920   
The following table presents the statement of operations effect and classification of derivative instruments:
  Statement of
Operations
Classification		 Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2020 2019 2020 2019
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax
 — $ (3,347)   $ (464)   $ 11,015    $ 2,804   
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 Net sales 165    75    43    110   
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion
 Cost of sales 1,826    925    4,621    2,121   
Gain reclassified from accumulated other comprehensive income or loss to income as a result of cash flow hedge discontinuance
 Other non-operating income 6    —    1,117    —   
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 Net sales —    (26)   —    (31)  
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion
 Cost of sales —    931    —    2,380   
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income Other non-operating income (319)   (1,137)   1,330    (574)