Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2024

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:

	As of December 31,
(in thousands)	2024		2023
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	550,591	$	634,676
Derivative instruments not designated as hedges:
Currency forward contracts	$	263,103	$	342,532

Balance Sheet Classification and Fair Value of Derivative Instruments

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

		As of December 31,
(in thousands)	Balance Sheet Classification	2024		2023
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	20,890	$	7,367
Currency forward contracts	Other non-current assets	$	9,137	$	961
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	$	853	$	4,121
Currency forward contracts	Other long-term liabilities	$	13	$	2,629
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	3,739	$	2,833
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	$	872	$	2,269

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)		2024		2023		2022
Currency forward contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income, net of tax	—	$	31,252	$	(849)	$	20,724
Gain (loss) reclassified from accumulated other comprehensive income to income for the effective portion	Net sales	$	(1,655)	$	60	$	(146)
Gain reclassified from accumulated other comprehensive income to income for the effective portion	Cost of sales	$	17,688	$	23,307	$	12,100
Gain reclassified from accumulated other comprehensive income to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	$	130	$	521	$	320
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating income (expense), net	$	5,824	$	(1,822)	$	(1,955)