Derivatives (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of September 30, 2024:

	Notional			Derivative Assets			Derivative Liabilities
	Amount		Maturity Date	Classification	Fair Value		Classification	Fair Value
Cash flow hedges
Interest rate swaps	$	300,000	March 2027	Other assets, net	$	3,451	Other liabilities	$	—
Economic (non-designated) hedges
Foreign currency contracts	$	33,350	October 2024	Other current assets	$	106	Other current liabilities	$	8

The following table summarizes the terms and fair value of our outstanding derivative financial instruments as of December 31, 2023:

	Notional			Derivative Assets			Derivative Liabilities
	Amount		Maturity Date	Classification	Fair Value		Classification	Fair Value
Cash flow hedges
Interest rate swaps	$	350,000	March 2027	Other assets, net	$	8,447	Other liabilities	$	—
Economic (non-designated) hedges
Foreign currency contracts	$	78,436	January 2024	Other current assets	$	1,043	Other current liabilities	$	—

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2024:

Total Amount of Expense

Amount of (Loss) Gain

Line Items Presented in the

Amount of Gain Reclassified

Recognized in Other

Location of Gain

Consolidated Statement of

from Accumulated Other

Comprehensive Income

Reclassified from

Operations in Which the

Comprehensive Loss into

(Loss)

Accumulated Other

Effects are Recorded

Net Loss

Three months ended

Nine months ended

Comprehensive Loss

Three months ended

Nine months ended

Three months ended

Nine months ended

September 30, 2024

September 30, 2024

into Income

September 30, 2024

September 30, 2024

September 30, 2024

September 30, 2024

Interest rate swaps

$

(4,872)

$

1,283

Interest expense, net

$

36,554

$

108,108

$

1,757

$

6,280

The amount of ineffectiveness associated with these contracts was immaterial for the periods presented.

The following table summarizes the effect of cash flow hedge accounting on our consolidated statements of operations for the three and nine months ended September 30, 2023:

Total Amount of Expense

Amount of Gain

Line Items Presented in the

Amount of Gain Reclassified

Recognized in Other

Location of Gain

Consolidated Statement of

from Accumulated Other

Comprehensive Income

Reclassified from

Operations in Which the

Comprehensive Loss into

(Loss)

Accumulated Other

Effects are Recorded

Net Loss

Three months ended

Nine months ended

Comprehensive Loss

Three months ended

Nine months ended

Three months ended

Nine months ended

September 30, 2023

September 30, 2023

into Income

September 30, 2023

September 30, 2023

September 30, 2023

September 30, 2023

Interest rate swaps

$

3,621

$

8,026

Interest expense, net

$

38,127

$

121,053

$

2,569

$

7,080