Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Gross Notional Amount of Outstanding Derivatives

The following table presents the gross notional amount of outstanding derivative instruments:

	December 31,
(in thousands)	2023		2022
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	634,676	$	514,365
Derivative instruments not designated as hedges:
Currency forward contracts	$	342,532	$	448,838

Balance Sheet Classification and Fair Value of Derivative Instruments

The following table presents the balance sheet classification and fair value of derivative instruments:

		December 31,
(in thousands)	Balance Sheet Classification	2023		2022
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	7,367	$	20,306
Currency forward contracts	Other non-current assets	961		7,153
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	4,121		1,249
Currency forward contracts	Other long-term liabilities	2,629		1,770
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	2,833		3,027
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	2,269		2,533

Effect and Classification of Derivative Instruments

The following table presents the statement of operations effect and classification of derivative instruments:

	Statement Of Operations Classification	Year Ended December 31,
(in thousands)		2023		2022		2021
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax	—	$	(849)	$	20,724	$	16,113
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	60		(146)		(448)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	23.307		12,100		(4,072)
Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income, net	521		320		451
Derivative instruments not designated as cash flow hedges:
Loss recognized in income	Other non-operating income, net	(1,822)		(1,955)		(608)