Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

NOTE 15 — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets is net of applicable taxes, and consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on certain derivative transactions and foreign currency translation adjustments.

The following tables set forth the changes in Accumulated other comprehensive income (loss):

(in thousands)	Available-for-sale securities		Derivative transactions		Foreign currency  translation adjustments		Total
Balance as of December 31, 2021	$	—	$	9,914	$	(14,290)	$	(4,376)
Other comprehensive income (loss) before reclassifications	(451)		20,724		(38,137)		(17,864)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	451		(8,848)		—		(8,397)
Net other comprehensive income (loss)	—		11,876		(38,137)		(26,261)
Balance as of December 31, 2022	—		21,790		(52,427)		(30,637)
Other comprehensive income (loss) before reclassifications	145		(849)		2,757		2,053
Amounts reclassified from accumulated other comprehensive income (loss) (1)	—		(17,252)		—		(17,252)
Net other comprehensive income (loss)	145		(18,101)		2,757		(15,199)
Balance as of December 31, 2023	145		3,689		(49,670)		(45,836)
Other comprehensive income (loss) before reclassifications	84		31,252		(37,030)		(5,694)
Amounts reclassified from accumulated other comprehensive income (loss) (1)	(145)		(11,547)		—		(11,692)
Net other comprehensive income (loss)	(61)		19,705		(37,030)		(17,386)
Balance as of December 31, 2024	$	84	$	23,394	$	(86,700)	$	(63,222)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income (expense), net on the Consolidated Statements of Operations. Refer to Note 17 for further information regarding reclassifications.