HEDGING INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Net Investment Hedges and Income Statement Impact of Hedging Instruments

The following table presents the effect of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provides information regarding the location and amounts of pretax gains or losses of derivatives:

(in thousands)		Three Months Ended March 31,
		2024		2023
Financial statement line items in which effects of cash flow hedges are recorded	Cost of revenue	$	371,025	$	357,224
Foreign exchange contracts
Amount of gain reclassified from accumulated other comprehensive income into net income		$	810	$	335
Financial statement line items in which effects of cash flow hedges are recorded	Interest expense	$	(7,911)	$	(13,127)
Interest rate swap contract
Amount of gain reclassified from accumulated other comprehensive income into net income		$	957	$	—

Schedule of Hedging Instruments

The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following derivative instruments, unless otherwise noted:

(in thousands)		Hedging Assets
		March 31, 2024		December 31, 2023
Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Other current assets	$	4,715	$	1,783
Cross currency swaps	Other current assets	—		—
Interest rate swap contract	Other long-term assets	3,256		1,451
Foreign currency exchange contracts	Other long-term assets	59		—
Cross currency swaps	Other long-term assets	1,046		664
Total derivative instruments presented as hedging instruments on the balance sheet		9,076		3,898
Gross amounts subject to master netting arrangements not offset on the balance sheet		(1,067)		(1,783)
Net amount		$	8,009	$	2,115

(in thousands)		Hedging Liabilities
		March 31, 2024		December 31, 2023
Derivatives and non-derivatives designated as hedging instruments	Balance Sheet Classification
Foreign currency exchange contracts	Accrued liabilities	$	999	$	5,532
Cross currency swaps	Other long-term liabilities	2,736		5,041
Foreign currency exchange contracts	Other long-term liabilities	81		—
Total derivative instruments presented as hedging instruments on the balance sheet		3,816		10,573
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet (1)	Long-term debt	96,064		98,187
Total hedging instruments presented on the balance sheet		99,880		108,760
Gross amounts subject to master netting arrangements not offset on the balance sheet		(1,067)		(1,783)
Net amount		$	98,813	$	106,977

(1) Amounts represent reported carrying amounts of our foreign currency-denominated debt. Refer to “Note 18. Fair Value Measurements” for information regarding the fair value of our long-term debt.