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Derivatives and Hedging (Tables)
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions The tables below provide information regarding the Company’s outstanding derivative contracts as of the dates indicated (in thousands, except for number of contracts).
September 30, 2025
Derivative Contract TypeNumber of
Contracts
Notional
Amounts
Fair Value
Asset
(Liability), Net (3)
Balance
Sheet
Line Item
Foreign currency forwards (1)
28 $83,627 $(253)Accrued liabilities

December 31, 2024
Derivative Contract TypeNumber of ContractsNotional
Amounts
Fair Value
Asset
(Liability), Net (3)
Balance
Sheet
Line Item
Unrealized
Loss Recorded
in AOCL, net of tax
Interest rate swap (2)
$350,000 $3,095 Other current assets$(9,800)
Foreign currency forwards (1)
119 656,904 (16)Accrued liabilities— 
Total120 $1,006,904 $3,079  $(9,800)
(1)The Company has foreign exchange transaction risk because it typically enters into transactions in the normal course of business that are denominated in foreign currencies that differ from the local functional currency. The Company enters into short-term foreign currency forward exchange contracts to mitigate the cash flow risk associated with changes in foreign currency rates on forecasted foreign currency transactions. These contracts are accounted for at fair value with realized and unrealized gains and losses recognized in Other (expense) income, net because the Company does not designate these
contracts as hedges for accounting purposes. All of the outstanding foreign currency forward exchange contracts at September 30, 2025 matured before October 31, 2025.
(2)Effective June 30, 2020, the Company de-designated all of its interest rate swaps and discontinued hedge accounting. Accordingly, subsequent changes to fair value of the interest rate swap were recorded in Other (expense) income, net. The amounts previously recorded in Accumulated other comprehensive loss were amortized into Interest expense, net over the terms of the hedged forecasted interest payments. See Note 7 — Debt for additional information regarding the Company’s interest rate swap contract.
(3)See Note 11 — Fair Value Disclosures for the determination of the fair values of these instruments.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance The table below provides information regarding amounts recognized in the accompanying Condensed Consolidated Statements of Operations for derivative contracts for the periods indicated (in thousands).
Three Months EndedNine Months Ended
 September 30,September 30,
Amount recorded in:2025202420252024
Interest expense, net (1)$4,270 $4,766 $13,205 $14,442 
Other expense (income), net (2)1,753 721 1,219 (5,348)
Total expense, net
$6,023 $5,487 $14,424 $9,094 
(1)Consists of interest expense from interest rate swap contracts.
(2)Consists of net realized and unrealized gains and losses on foreign currency forward contracts and gains and losses on de-designated interest rate swaps.