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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
As of December 31, 2025 and 2024, the fair value carrying amount of the Company's derivatives designated as hedging instruments are recorded as follows (dollars in thousands):
Asset / (Liability) Derivatives
Derivatives designated as hedging instrumentsBalance Sheet CaptionDecember 31, 2025December 31, 2024
Net Investment Hedges
Cross-currency swapsOther long-term liabilities$(18,270)$(2,920)
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The following table summarizes the income recognized in AOCI on derivative contracts designated as hedging instruments as of December 31, 2025 and 2024, and the amounts reclassified from AOCI into earnings for the years ended December 31, 2025, 2024 and 2023 (dollars in thousands):
Amount of Income Recognized
in AOCI on Derivative
(net of tax)
Location of Income (Loss) Reclassified from AOCI into Earnings Amount of Income (Loss) Reclassified from
AOCI into Earnings
As of December 31,Year ended December 31,
20252024202520242023
Net Investment Hedges
Cross-currency swaps$4,720 $16,300 Other income (expense), net$— $— $— 
Derivatives Not Designated as Hedging Instruments
The following table summarizes the effects of derivatives not designated as hedging instruments on the Company's consolidated statement of income (dollars in thousands):
Amount of Income (Loss) Recognized in Earnings on Derivatives
Year ended December 31,
Location of Income (Loss)
Recognized in
Earnings on Derivatives
202520242023
Derivatives not designated as hedging instruments
Foreign exchange contractsOther income (expense), net$(9,140)$8,590 $(1,880)
Cross-currency swapsOther income (expense), net— 810 — 
Fair Value Measurements, Recurring and Nonrecurring Fair value measurements and the fair value hierarchy level for the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2025 and 2024 are as follows (dollars in thousands):
DescriptionFrequencyAsset / (Liability)Quoted Prices in Active Markets for Identical Assets
(Level 1)
Significant Other Observable Inputs
(Level 2)
Significant Unobservable Inputs
(Level 3)
December 31, 2025
Cross-currency swapsRecurring$(18,270)$— $(18,270)$— 
Foreign exchange contractsRecurring$90 $— $90 $— 
December 31, 2024
Cross-currency swapsRecurring$(2,920)$— $(2,920)$— 
Foreign exchange contractsRecurring$360 $— $360 $—