Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.20.2
Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Cash flow hedging derivatives on the Balance Sheet
The table below presents the fair value of the derivative instruments designated as cash flow hedges as well as their classification in the Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019:
Fair Value at
Balance Sheet Location June 30, 2020 December 31, 2019
(in thousands)
Derivatives designated as cash flow hedging instruments:
Assets:
Foreign currency forward contracts Other current assets $ 266    $ 217   
Total derivative assets $ 266    $ 217   
Liabilities:
Interest rate swaps Other long-term liabilities $ 7,055    $ 2,193   
Foreign currency forward contracts Other current liabilities 101    14   
Total derivative liabilities $ 7,156    $ 2,207   
Gain (loss) on Derivatives The tables below present the amount of gains and losses related to the derivative instruments and their location in the Condensed Consolidated Statements of Operations and the Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019, in thousands:
Derivatives Designated as Cash Flow Hedges Gain (Loss) Recognized in OCI Gain (Loss) Recognized in Income
Three months ended June 30, 2020 2019 Location of Gain (Loss) Recognized in Income 2020 2019
Swap agreements, net of tax $ (696)   $ (1,081)   Interest expense and other $ (390)   $ 212   
Foreign currency forward contracts, net of tax 282    90    Cost of revenue and operating expenses 15    11   
Derivatives Designated as Cash Flow Hedges Gain (Loss) Recognized in OCI Gain (Loss) Recognized in Income
Six months ended June 30, 2020 2019 Location of Gain (Loss) Recognized in Income 2020 2019
Swap agreements, net of tax $ (3,971)   $ (1,666)   Interest expense and other $ (545)   $ 433   
Foreign currency forward contracts, net of tax   90    Cost of revenue and operating expenses 36    11