XML 42 R32.htm IDEA: XBRL DOCUMENT v3.26.1
Derivatives and Hedging (Tables)
3 Months Ended
Mar. 31, 2026
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).
March 31, 2026
Derivative Contract TypeNumber of
Contracts
Notional
Amounts
Fair Value
Asset
(Liability), Net (2)
Balance
Sheet
Line Item
Foreign currency forwards (1)
28 $110,353 $Other current assets/accrued liabilities
December 31, 2025
Derivative Contract TypeNumber of ContractsNotional
Amounts
Fair Value
Asset
(Liability), Net (2)
Balance
Sheet
Line Item
Foreign currency forwards (1)
104 $427,482 $230 Other current assets/accrued liabilities
(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 March 31, 2026 matured before April 28, 2026.

(2)See Note 12 — 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 Ended
 March 31,
Amount recorded in:20262025
Interest expense, net (1)$— $4,464 
Other expense (income), net (2)1,218 (596)
Total expense, net
$1,218 $3,868 
(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 in 2025 also included a gain on a de-designated interest rate swap.