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Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments and the Balance Sheet Lines in Which They Are Recorded
The following table sets forth the fair values of derivative instruments designated as cash flow hedges held by the Company as of September 30, 2025 and December 31, 2024 and the balance sheet lines in which they are recorded:
Fair Value Asset (Liability)
September 30, 2025December 31, 2024Balance Sheet Caption
Foreign currency forward$381 $2,258 Prepaid and other current assets
Foreign currency forward(2,352)(888)Other accrued expenses
Schedule of Other Comprehensive Earnings (Loss)for the Gains (Losses) on Net Investment Hedges
Amounts recognized in other comprehensive earnings (loss) for the gains (losses) on net investment hedges were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Loss on euro-denominated debt
$(896)$(45,956)$(138,656)$(13,201)
Gain (loss) on currency forward contract
3,475 — (12,702)— 
Gain (loss) on net investment hedges
2,579 (45,956)(151,358)(13,201)
Tax (expense) benefit
(584)10,468 34,216 3,008 
Net gain (loss) on net investment hedges, net of tax
$1,995 $(35,488)$(117,142)$(10,193)
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
Level 2Level 2
Assets:
Foreign currency cash flow hedges$381 $2,258 
Liabilities:
Foreign currency cash flow hedges2,352 888 
Foreign currency net investment hedges
12,702 —