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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025 and December 31, 2024 (in thousands):

						Fair Value						Level 1						Level 2						Level 3
March 31, 2025
Assets:
Overnight deposits						$	147,803					$	—					$	147,803					$	—
Money market						366,688						—						366,688						—
Certificates of deposit						235,831						—						235,831						—
Treasury bills						357,497						—						357,497						—
Interest rate swaps						8,892						—						8,892						—
Cross-currency interest rate swaps						24,260						—						24,260						—
Foreign exchange contracts						631,789						—						631,789						—
Total assets						$	1,772,760					$	—					$	1,772,760					$	—
Cash collateral for foreign exchange contracts						$	38,330
Liabilities:
Interest rate swaps						$	21,263					$	—					$	21,263					$	—
Cross-currency interest rate swaps						50,608						—						50,608						—
Foreign exchange contracts						532,833						—						532,833						—
Total liabilities						$	604,704					$	—					$	604,704					$	—
Cash collateral obligation for foreign exchange contracts						$	545,658
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 swaps						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

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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

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