The Company enters into forward foreign exchange contracts that economically hedge certain of its foreign currency risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. In addition, the Company enters into interest rate swaps to hedge certain of its interest rate risks on its debt. The Company monitors its positions with, and the credit quality of, the financial institutions that are party to its financial transactions.

As of September 30, 2024, the Company had the following outstanding forward foreign exchange contracts (all outstanding contracts have maturities of less than 12 months from September 30, 2024).

(in thousands except for exchange rates):


Foreign Currency	Foreign Currency Amount		US Dollar Amount	Weighted Average Exchange Rate Per $1 USD

British Pound Sterling	£ 27,380	in exchange for	$34,806	£ 0.79
Euro	€4,200	in exchange for	$4,591	€0.91
Singapore Dollar	S$ 4,050	in exchange for	$3,039	S$ 1.33
Canadian Dollar	C$ 1,800	in exchange for	$1,330	C$ 1.35
United Arab Emirates Dirham	6,200 د.إ.‏	in exchange for	$1,689	د.إ 3.67

For forward foreign exchange contracts not designated as cash flow hedges, the Company recorded a net gain (loss) of $2.8 million and $(3.4) million for the three months ended September 30, 2024 and 2023, respectively, and a net gain of $2.0 million and $3.0 million for the nine months ended September 30, 2024 and 2023, respectively, in other (expense) income, net in the consolidated statements of operations.

In certain circumstances, the Company enters into contracts that are settled in currencies other than the functional or local currencies of the contracting parties. Accordingly, these contracts consist of the underlying operational contract and an embedded foreign currency derivative element. Hedge accounting is not applied to the embedded foreign currency derivative element. The Company recorded a net gain of $1.1 million and $1.0 million for the three months ended September 30, 2024 and 2023, respectively, and a net gain of $2.7 million and $1.1 million for the nine months ended September 30, 2024 and 2023, respectively, in other (expense) income, net in the consolidated statements of operations.

In addition, the Company has entered into interest rate swaps for portions of its 2014 Credit Facilities and other variable interest bearing debt and has designated them as cash flow hedges. In June 2023, the Company executed amendments to transition the interest rate swaps on its 2014 Credit Facilities from LIBOR to Term Secured Overnight Financing Rate ("SOFR") with a new average fixed coupon of approximately 2.05% for $1.5 billion of interest rate swaps and approximately 3.10% for $750 million of interest rate swaps. The $1.5 billion of interest rate swaps matured during the quarter ended June 30, 2024 and the $750 million of interest rate swaps matured during the quarter ended September 30, 2024. For the three months ended September 30, 2024 and 2023, the Company recorded a net (loss) gain of $(0.4) million and $6.4 million in accumulated other comprehensive income (loss) and reclassified gains of $3.0 million and $16.3 million into net (loss) income, respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded net gains of $9.2 million and $24.4 million in accumulated other comprehensive income (loss) and reclassified gains of $36.5 million and $42.7 million into net (loss) income, respectively.