Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

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,
	2024				2023
	Recorded Amount		Fair Value		Recorded Amount		Fair Value
	(In thousands)
Long-term debt	$	3,532,713	$	3,332,064	$	4,186,532	$	4,021,693

Schedule of Derivative Instruments in Statement of Financial Position

The following table summarizes the fair value of our derivative financial instruments included in the consolidated balance sheets at December 31, 2024 and 2023 (in thousands):

	December 31,
	2024				2023
	Assets		Liabilities		Assets		Liabilities
Designated as hedging instruments
Other current assets	$	—	$	—	$	3,489	$	—
Other assets	—		—		11,704		—
Accrued expenses	—		—		—		446
Total designated as hedging instruments	—		—		15,193		446
Not designated as hedging instruments
Other current assets	4,347		—		2,636		—
Accrued expenses	—		6,586		—		5,306
Other noncurrent liabilities	—		4,766		—		—
Total not designated as hedging instruments	4,347		11,352		2,636		5,306
Total	$	4,347	$	11,352	$	17,829	$	5,752

Derivative Instruments, Gain (Loss)

The following table summarizes the net (losses) gains recognized for our derivative financial instruments during the years ended December 31, 2024, 2023 and 2022 (in thousands):

	Year Ended December 31,
	2024		2023		2022
Designated as hedging instruments:
(Loss) gain recognized in Other comprehensive (loss) income	$	(28,701)	$	5,986	$	(4,399)
(Loss) gain recognized in Other income, net	$	(25,766)	$	135	$	—
Not designated as hedging instruments:
(Loss) gain recognized in Other income, net(a)	$	(14,728)	$	213,378	$	(41,088)

(a)Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.