Derivatives (Tables)

3 Months Ended

Mar. 31, 2026

Derivatives

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on a gross basis was as follows on the dates indicated (in thousands):

Fair Value of Derivative Instruments Designated as Hedging Instruments	Balance Sheet Location	March 31, 2026		December 31, 2025
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	3,272	$	3,555
Foreign currency forward contracts	Other assets (long-term)		356		663
(Liabilities)
Foreign currency forward contracts	Accrued expenses		(2,192)		(2,183)
Foreign currency forward contracts	Other long-term obligations		(269)		(424)
Fair Value of Derivative Instruments Not Designated as Hedging Instruments	Balance Sheet Location	March 31, 2026		December 31, 2025
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	2,689	$	1,390
(Liabilities)
Foreign currency forward contracts	Accrued expenses		(2,142)		(1,620)

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

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income (“OCI”), accumulated other comprehensive income (“AOCI”), and net earnings in our consolidated statements of income, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

	Amount of Gain/(Loss)					Consolidated Statements				Amount of Gain/(Loss)
	Recognized in OCI					of Income				Reclassified from AOCI
	Three Months Ended March 31,					Three Months Ended March 31,				Three Months Ended March 31,
Derivative instrument	2026		2025		Location in statements of income	2026			2025	2026			2025
Foreign currency forward contracts	$	(142)	$	(1,897)	Revenue	$	381,877	$	355,351	$	(517)	$	1,021
					Cost of sales		(197,080)		(183,331)		915		(532)

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the periods presented (in thousands):

		Three Months Ended March 31,
Derivative Instrument	Location in statements of income	2026		2025
Foreign currency forward contracts	Other income (expense) — net	$	(1,688)	$	(158)