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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 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 values on a recurring

basis as of December 31, 2024 and 2023, (in thousands): 

		Fair Value		Level 1		Level 2		Level 3
December 31, 2024
Assets:
Overnight deposits		$140,359		$—		$140,359		$—
Money market		320,289		—		320,289		—
Certificates of deposit		273,082		—		273,082		—
Treasury bills		550,514		—		550,514		—
Interest rate swaps		19,765		—		19,765		—
Cross-currency interest rate swap		30,530		—		30,530		—
Foreign exchange contracts		833,695		—		833,695		—
Total assets		$2,168,234		$—		$2,168,234		$—
Cash collateral for foreign exchange contracts		$34,994
Liabilities:
Interest rate swaps		$9,861		$—		$9,861		$—
Cross-currency interest rate swap		5,220		—		5,220		—
Foreign exchange contracts		724,296		—		724,296		—
Total liabilities		$739,377		$—		$739,377		$—
Cash collateral obligation for foreign exchange contracts		$718,143
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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- References

No definition available.

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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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