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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2024
Fair Value Disclosures [Abstract] |
Financial Assets and Liabilities Measured at Fair Value | The following table presents the Company’s financial assets and liabilities which are measured at fair value on a recurring basis as of September 30, 2024 and December 31, 2023 (in thousands):
|  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
September 30, 2024 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Overnight deposits |  | $ | 163,274 |  |  | $ | — |  |  | $ | 163,274 |  |  | $ | — |
Money market |  | 165,056 |  |  | — |  |  | 165,056 |  |  | — |
Certificates of deposit |  | 415,338 |  |  | — |  |  | 415,338 |  |  | — |
Treasury bills |  | 526,789 |  |  | — |  |  | 526,789 |  |  | — |
Interest rate swaps |  | 3,632 |  |  | — |  |  | 3,632 |  |  | — |
Cross-currency interest rate swaps |  | 14,841 |  |  | — |  |  | 14,841 |  |  | — |
Foreign exchange contracts |  | 475,447 |  |  | — |  |  | 475,447 |  |  | — |
Total assets |  | $ | 1,764,377 |  |  | $ | — |  |  | $ | 1,764,377 |  |  | $ | — |
Cash collateral for foreign exchange contracts |  | $ | 49,423 |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 53,267 |  |  | $ | — |  |  | 53,267 |  |  | — |
Cross-currency interest rate swaps |  | 80,147 |  |  | — |  |  | 80,147 |  |  | — |
Foreign exchange contracts |  | 386,900 |  |  | — |  |  | 386,900 |  |  | — |
Total liabilities |  | $ | 520,314 |  |  | $ | — |  |  | $ | 520,314 |  |  | $ | — |
Cash collateral obligation for foreign exchange contracts |  | $ | 499,200 |  |  |  |  |  |  |
December 31, 2023 |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Overnight deposits |  | $ | 256,466 |  |  | $ | — |  |  | $ | 256,466 |  |  | $ | — |
Money market |  | 376,465 |  |  | — |  |  | 376,465 |  |  | — |
Certificates of deposit |  | 266,316 |  |  | — |  |  | 266,316 |  |  | — |
Treasury bills |  | 236,505 |  |  | — |  |  | 236,505 |  |  | — |
Interest rate swaps |  | 23,485 |  |  | — |  |  | 23,485 |  |  | — |
Foreign exchange contracts |  | 320,216 |  |  | — |  |  | 320,216 |  |  | — |
Total assets |  | $ | 1,479,453 |  |  | $ | — |  |  | $ | 1,479,453 |  |  | $ | — |
Cash collateral for foreign exchange contracts |  | $ | 39,219 |  |  |  |  |  |  |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 55,796 |  |  | $ | — |  |  | $ | 55,796 |  |  | $ | — |
Cross-currency interest rate swap |  | 14,522 |  |  | — |  |  | 14,522 |  |  | — |
Foreign exchange contracts |  | 244,745 |  |  | — |  |  | 244,745 |  |  | — |
Total liabilities |  | $ | 315,063 |  |  | $ | — |  |  | $ | 315,063 |  |  | $ | — |
Cash collateral obligation for foreign exchange contracts |  | $ | 180,168 |  |  |  |  |  |  |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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