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Financial Instruments and Risk Management (Tables)
 9 Months Ended
Sep. 30, 2025
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
(in thousands)September 30, 2025December 31, 2024September 30, 2024
Derivative instruments designated as cash flow hedges:
Currency forward contracts$758,572 $550,591 $581,848 
Derivative instruments not designated as hedges:
Currency forward contracts$462,521 $263,103 $471,927 
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
(in thousands)Balance Sheet ClassificationSeptember 30, 2025December 31, 2024September 30, 2024
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contractsPrepaid expenses and other current assets$5,589 $20,890 $3,311 
Currency forward contractsOther non-current assets$1,388 $9,137 $817 
Derivative instruments in liability positions:
Currency forward contractsAccrued liabilities$8,532 $853 $3,657 
Currency forward contractsOther long-term liabilities$6,117 $13 $1,264 
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contractsPrepaid expenses and other current assets$1,310 $3,739 $1,443 
Derivative instruments in liability positions:
Currency forward contractsAccrued liabilities$2,057 $872 $1,441 
Effect and Classification of Derivative Instruments
The following table presents the statement of operations effect and classification of derivative instruments:

Statement Of
Operations
Classification
Three Months Ended September 30,
Nine Months Ended September 30,
(in thousands)2025202420252024
Currency forward contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax
—$7,590 $(9,895)$(22,385)$7,283 
Gain (loss) reclassified from accumulated other comprehensive loss to net income for the effective portion
Net sales$257 $(480)$(223)$(822)
Gain reclassified from accumulated other comprehensive loss to net income for the effective portion
Cost of sales$3,053 $7,265 $8,719 $12,241 
Gain (loss) reclassified from accumulated other comprehensive loss to net income as a result of cash flow hedge discontinuance
Other non-operating income, net
$— $62 $(54)$130 
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in net income
Other non-operating income, net
$1,574 $(4,369)$(387)$160