Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2025

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

Accumulated Other Comprehensive Income

NOTE 10 — ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss on the unaudited Condensed 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 loss:

(in thousands)	Derivative transactions		Foreign currency  translation adjustments		Total
Balance as of March 31, 2025	$	15,436	$	(76,887)	$	(61,451)
Other comprehensive loss before reclassifications	(24,065)		20,550		(3,515)
Amounts reclassified from accumulated other comprehensive loss (1)	(1,881)		—		(1,881)
Net other comprehensive loss during the period	(25,946)		20,550		(5,396)
Balance as of June 30, 2025	$	(10,510)	$	(56,337)	$	(66,847)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Derivative transactions		Foreign currency  translation adjustments		Total
Balance as of March 31, 2024	$	13,466	$	(64,657)	$	(51,191)
Other comprehensive loss before reclassifications	5,451		(7,876)		(2,425)
Amounts reclassified from accumulated other comprehensive loss (1)	(1,394)		—		(1,394)
Net other comprehensive loss during the period	4,057		(7,876)		(3,819)
Balance as of June 30, 2024	$	17,523	$	(72,533)	$	(55,010)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Available-for- sale securities		Derivative transactions		Foreign currency  translation adjustments		Total
Balance as of December 31, 2024	$	84	$	23,394	$	(86,700)	$	(63,222)
Other comprehensive income before reclassifications	—		(29,975)		30,363		388
Amounts reclassified from accumulated other comprehensive loss (1)	(84)		(3,929)		—		(4,013)
Net other comprehensive loss during the period	(84)		(33,904)		30,363		(3,625)
Balance as of June 30, 2025	$	—	$	(10,510)	$	(56,337)	$	(66,847)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.

(in thousands)	Available-for- sale securities		Derivative transactions		Foreign currency  translation adjustments		Total
Balance as of December 31, 2023	$	145	$	3,689	$	(49,670)	$	(45,836)
Other comprehensive loss before reclassifications	—		17,178		(22,863)		(5,685)
Amounts reclassified from accumulated other comprehensive loss (1)	(145)		(3,344)		—		(3,489)
Net other comprehensive loss during the period	(145)		13,834		(22,863)		(9,174)
Balance as of June 30, 2024	$	—	$	17,523	$	(72,533)	$	(55,010)

(1) Amounts reclassified are recorded in Net sales, Cost of sales, or Other non-operating income, net on the unaudited Condensed Consolidated Statements of Operations. Refer to Note 11 for further information regarding reclassifications.