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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Designated [Member]  
Schedule of Derivative Instruments Designated/Nondesignated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income The effects of the material derivative instruments that are designated as hedging instruments on the condensed consolidated statements of comprehensive income for the three months ended March 31, 2024 and 2023 are below.

Three Months Ended March 31,

 

Gain recognized in OCI (effective element)

 

 

 

2024

 

 

2023

 

Forward exchange contracts

 

$

 

 

$

1

 

 

Location of (loss)/gain reclassified from Accumulated OCL into income (effective element)

 

(Loss)/gain reclassified from Accumulated OCL into income (effective element)

 

 

 

2024

 

 

2023

 

Revenue

 

$

(1

)

 

$

 

Salaries and benefits

 

 

1

 

 

 

(1

)

 

 

$

 

 

$

(1

)

Nondesignated [Member]  
Schedule of Derivative Instruments Designated/Nondesignated As Hedging Instrument Effect on Condensed Consolidated Statements of Comprehensive Income

The effects of derivatives that have not been designated as hedging instruments on the condensed consolidated statements of comprehensive income for the three months ended March 31, 2024 and 2023 are as follows (see Note 16 — Other Income, Net for the net foreign currency impact on the Company’s condensed consolidated statements of comprehensive income which includes the results of the offset of underlying exposures):

 

 

 

 

 

Gain recognized in income

 

 

 

 

 

Three Months Ended
March 31,

 

Derivatives not designated as hedging instruments:

 

Location of gain
recognized in income

 

2024

 

 

2023

 

Forward exchange contracts

 

Other income, net

 

$

1

 

 

$

8