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Note 12 - Derivative Instruments and Hedging Activities
 9 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Derivative Instruments and Hedging Activities Disclosure [Text Block]

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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

 

In the second and third quarter of 2025, we entered into foreign currency contracts to sell Euros at future defined dates and at fixed exchange rates, to limit our exposure to losses related to the revaluation of non-USD cash balances held in certain African currencies that are marked to the Euro. We did not designate these contracts as hedges for accounting purposes.

 

Derivative instruments are classified as either assets or liabilities based on their individual fair values. The fair value of our derivative instruments was as follows:

 

(In Thousands)

        
  

September 30, 2025

  

December 31, 2024

 

Euro forward exchange contracts

        

Other current liabilities

 $2,621  $— 

 

We recognized realized and unrealized (gains) losses on derivative instruments not designated as hedging instruments of ($0.4) million and $2.9 million for the three and nine months ended  September 30, 2025, respectively. We held no derivative instruments during 2024.