Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2025

Long-Term Debt and Lease Obligation [Abstract]

Schedule of Long-term Debt Instruments

The following table represents our outstanding debt as of December 31, 2025 and 2024:

(in thousands, except interest rates)	2025		2024
Borrowings under the Amended Credit Agreement(1):
USD borrowings	$	350,000	$	225,000
EUR borrowings	105,663		93,485
Foreign bank debt	—		46
Total bank debt	455,663		318,531
Less: Current maturities of long-term debt	—		—
Long-term debt	$	455,663	$	318,531
(1) The credit facility matures in August 2028. At the end of the December 31, 2025 and December 31, 2024, the USD interest rate in effect was 5.56% and 5.77%, respectively, including the effect of interest rate swaps; at the end of December 31, 2025, the EURIBOR interest rate was 3.73% and 4.09% at the end of December 31, 2024, 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%