Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents the fair values of our derivative instruments included within the Condensed Consolidated Balance Sheets (in thousands):

	Derivatives Designated as Cash Flow Hedging Instruments
Condensed Consolidated Balance Sheet Location	Foreign Exchange Contracts		Interest Rate Swaps		Gross Derivatives
As of March 31, 2023
Prepaid expenses and other current assets	$	7,433	$	25,560	$	32,993
Other assets	51		19,672		19,723
Total assets	$	7,484	$	45,232	$	52,716
Accrued liabilities	$	2,132	$	—	$	2,132
Other long-term liabilities	41		—		41
Total liabilities	$	2,173	$	—	$	2,173
As of December 31, 2022
Prepaid expenses and other current assets	$	4,860	$	28,431	$	33,291
Other assets	94		26,753		26,847
Total assets	$	4,954	$	55,184	$	60,138
Accrued liabilities	$	1,847	$	—	$	1,847
Other long-term liabilities	167		—		167
Total liabilities	$	2,014	$	—	$	2,014

We recognized the following gains on our derivative instruments designated as cash flow hedges in other comprehensive income before reclassifications to net loss (in thousands):

	Gain (Loss) Recognized in Other Comprehensive Income
	Three months ended March 31,
	2023		2022
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	$	2,451	$	3,112
Interest rate swaps	(2,584)		30,051
Total derivatives designated as cash flow hedging instruments	$	(133)	$	33,163

The following table presents the effects of our derivative instruments designated as cash flow hedges on the Condensed Consolidated Statements of Operations (in thousands):

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Gain (Loss) Reclassified From Accumulated Other Comprehensive (Loss) Income into Income
		Three months ended March 31,
	Location of Gain (Loss) Recognized in Income	2023		2022
Derivatives designated as cash flow hedging instruments:
Foreign exchange contracts	Total revenues	$	(1,922)	$	2,543
Foreign exchange contracts	Cost of goods sold	1,500		(513)
Foreign exchange contracts	Other (expense) income, net(1)	229		—
Foreign exchange contracts	Interest expense(2)	13		249
Interest rate swaps	Interest expense	7,369		—
Total derivatives designated as cash flow hedging instruments		$	7,189	$	2,279

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(1)    Represents location of gain reclassified from accumulated other comprehensive income into income as a result of ineffectiveness.

(2)    Represents location of gain reclassified from accumulated other comprehensive income into income as a result of forecasted transactions no longer probable of occurring.

As of March 31, 2023, we expect an estimated $5.3 million in deferred gains on the outstanding foreign exchange contracts and an estimated $26.3 million in deferred gains on the interest rate swaps will be reclassified from accumulated other comprehensive loss to net income during the next 12 months concurrent with the underlying hedged transactions also being reported in net income.