Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table represents the Company's outstanding debt:

(in thousands, except interest rates)	June 30, 2025		December 31, 2024
Borrowings under the Amended Credit Agreement (1)
USD borrowings	$	339,000	$	225,000
EUR borrowings	105,686		93,485
Foreign bank debt	—		46
Total bank debt	444,686		318,531
Less: Current maturities of long-term debt	—		—
Long-term debt	$	444,686	$	318,531
(1) The credit facility matures in August 2028. At the end of June 30, 2025 and December 31, 2024, the USD interest rate in effect was 5.92% and 5.77%, respectively, including the effect of interest rate swaps; at the end of June 30, 2025 and December 31, 2024, the EUR interest rate in effect was 3.72% and 4.09%, respectively, including the effect of interest rate swaps.

Schedule Interest Rate for Borrowings

The applicable interest rate for borrowings under the Amended Credit Agreement is based on both Term SOFR and EURIBOR plus a spread, which is based on our leverage ratio (as defined in the Amended Credit Agreement) at the time of a borrowing as follows:

Leverage Ratio	Commitment Fee	ABR Spread	Term Benchmark/ Daily Simple SOFR Spread
<1.00:1.00	0.275%	0.500%	1.500%
≥ 1.00:1.00 and < 2.00:1.00	0.300%	0.625%	1.625%
≥ 2.00:1.00 and < 3.00:1.00	0.325%	0.750%	1.750%
≥ 3.00:1.00	0.350%	1.000%	2.000%