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Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Fair Values of our Derivative Assets and Liabilities
The fair values of our derivative assets and liabilities and Contingent Consideration measured on a recurring basis as of December 31 and are categorized as follows:
December 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Foreign exchange contract designated as hedging instruments
$— $— $— $— $1,318 $— $1,318 $— 
Interest rate swap agreement$1,069 $— $1,069 $— $1,073 $— $1,073 $— 
Liabilities:
Foreign exchange contract designated as hedging instruments
$5,698 $— $5,698 $— $— $— $— $— 
Foreign exchange contract not designated as hedging instruments
$53 $— $53 $— $304 $— $304 $— 
Summary of Notional Amount of Foreign Exchange Contracts
The following table summarizes the notional amount of our open foreign exchange contracts at December 31:
20242023
U.S. $
Equivalent
U.S. $
Equivalent
Fair Value
U.S. $
Equivalent
U.S. $
Equivalent
Fair Value
Commitments to buy or sell currencies - Foreign exchange contract designated as hedging instruments
$54,359 $55,251 $56,741 $58,094 
Commitments to buy or sell currencies - Foreign exchange contract not designated as hedging instruments
$4,697 $5,023 $16,608 $16,806 
Summary of Fair Value and Presentation in Consolidated Balance Sheets for Derivatives
The following table summarizes the fair value and presentation of derivatives in the Consolidated Balance Sheets at December 31: 
 Derivative Asset
Balance Sheet
Location
Fair Value
20242023
Foreign exchange contract designated as hedging instruments
Other current assets$— $1,179 
Foreign exchange contract designated as hedging instrumentsOther assets$— $139 
Interest rate swap agreementOther assets$1,069 $1,073 
 Derivative Liability
Balance Sheet
Location
Fair Value
20242023
Foreign exchange contract designated as hedging instruments
Accrued liabilities and other$5,648 $— 
Foreign exchange contract designated as hedging instruments
Other long-term liabilities$50 $— 
Foreign exchange contract not designated as hedging instrumentsAccrued liabilities and other$53 $304 
 Derivative Equity
Balance Sheet
Location
Fair Value
20242023
Foreign exchange contract designated as hedging instrumentsAccumulated other comprehensive loss$(2,119)$1,354 
Interest rate swap agreementsAccumulated other comprehensive loss$897 $3,484 
Summary of Effect of Derivative Instruments on Consolidated Statements of Income for Derivatives not Designated as Accounting Hedges
The following table summarizes the effect of derivative instruments on the Consolidated Statements of Operations:
20242023
Location of Gain (Loss)
Recognized on Derivatives
Amount of Gain (Loss)
Recognized in Income on
Derivatives
Foreign exchange contract designated as hedging instruments
Cost of revenues$(2,454)$5,339 
Interest rate swap agreementsInterest expense$1,498 $1,466 
Interest rate swap agreements settled in 2022
Interest expense$755 $756 
Foreign exchange contract not designated as hedging instruments
Other (income) expense$281 $(220)
Summary of Carrying Amounts and Fair Values of Our Long-Term Debt Obligations The carrying amounts and fair values of our long-term debt obligations are as follows:
December 31, 2024December 31, 2023
Carrying
Amount
Fair ValueCarrying
Amount
Fair Value
Term loan and security agreement 1
$85,000 $84,363 $141,514 $139,213 
Revolving Credit Facility $50,500 $50,500 $— $— 
1    Presented in the Consolidated Balance Sheets as the current portion of long-term debt of $8.4 million and long-term debt of $76.6 million as of December 31, 2024, and current portion of long-term debt of $15.3 million and long-term debt of $126.2 million as of December 31, 2023.