Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value of Long-Term Debt

The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings.

	December 31,
	2022				2021
	Recorded Amount		Fair Value		Recorded Amount		Fair Value
	(In thousands)
Long-term debt	$	3,239,853	$	2,993,027	$	2,405,021	$	2,593,590

Schedule of Derivative Instruments in Statement of Financial Position

The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets at December 31, 2022 and 2021 (in thousands):

	December 31,
	2022				2021
	Assets		Liabilities		Assets		Liabilities
Designated as hedging instruments
Other current assets	$	—	$	—	$	237	$	—
Accrued expenses	—		3,159		—		57
Total designated as hedging instruments	—		3,159		237		57
Not designated as hedging instruments
Other current assets	6,016		—		2,901		—
Accrued expenses	—		85		—		248
Total not designated as hedging instruments	6,016		85		2,901		248
Total	$	6,016	$	3,244	$	3,138	$	305

Derivative Instruments, Gain (Loss)

The following table summarizes the net gains (losses) recognized for our foreign currency forward contracts during the years ended December 31, 2022, 2021 and 2020 (in thousands):

	Year Ended December 31,
	2022		2021		2020
Designated as hedging instruments:
(Losses) gains recognized in Other comprehensive income (loss)	$	(4,398)	$	174	$	1,602
Not designated as hedging instruments:
(Losses) gains recognized in Other income (expenses), net(a)	$	(41,088)	$	1,068	$	(7,665)