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ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Income | The changes in Accumulated Other Comprehensive Income (“AOCI”), net of tax, consisted of the following:
|  | For the Three Months Ended March 31, 2024
|  |  |  | Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax |  | Unrealized Gain (Loss) on Net Investment Hedges, Net of Tax |  |  |  |  |  |
(in thousands) |  | Unrealized (Loss) Gain on Investments, Net of Tax |  | Foreign Currency Exchange Contracts |  | Interest Rate Swap |  | Euro-Denominated Notes |  | Cross Currency Swaps |  | Defined Benefit Plans, Net of Tax |  | Cumulative Translation Adjustment |  | Total
Balance as of December 31, 2023 |  | $ | (164) |  |  | $ | (2,397) |  |  | $ | 1,106 |  |  | $ | 2,346 |  |  | $ | 1,428 |  |  | $ | (3,559) |  |  | $ | (69,966) |  |  | $ | (71,206) |
Other comprehensive income (loss) before reclassifications |  | 1 |  |  | 5,848 |  |  | 2,106 |  |  | 1,618 |  |  | 2,049 |  |  | — |  |  | (19,773) |  |  | (8,151) |
Reclassified from accumulated other comprehensive income |  | 163 |  |  | (567) |  |  | (730) |  |  | — |  |  | — |  |  | 94 |  |  | — |  |  | (1,040) |
Balance as of March 31, 2024 |  | $ | — |  |  | $ | 2,884 |  |  | $ | 2,482 |  |  | $ | 3,964 |  |  | $ | 3,477 |  |  | $ | (3,465) |  |  | $ | (89,739) |  |  | $ | (80,397) |
|  | For the Three Months Ended March 31, 2023
|  |  |  | Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax | Unrealized Gain (Loss) on Net Investment Hedges, Net of Tax |  |  |  |  |  |
(in thousands) |  | Unrealized (Loss) on Investments, Net of Tax |  | Foreign Currency Exchange Contracts | Interest Rate Swap |  | Euro-Denominated Notes |  | Cross Currency Swaps |  | Defined Benefit Plans, Net of Tax |  | Cumulative Translation Adjustment |  | Total
Balance as of December 31, 2022 |  | $ | (172) |  |  | $ | 839 |  | $ | — |  |  | $ | 4,947 |  |  | $ | 7,057 |  |  | $ | (2,776) |  |  | $ | (87,691) |  |  | $ | (77,796) |
Other comprehensive income (loss) before reclassifications |  | 6 |  |  | (209) |  | (45) |  |  | (1,490) |  |  | (1,240) |  |  | — |  |  | 4,258 |  |  | 1,280 |
Reclassified from accumulated other comprehensive income |  | — |  |  | (218) |  | — |  |  | — |  |  | — |  |  | 119 |  |  | — |  |  | (99) |
Balance as of March 31, 2023 |  | $ | (166) |  |  | $ | 412 |  | $ | (45) |  |  | $ | 3,457 |  |  | $ | 5,817 |  |  | $ | (2,657) |  |  | $ | (83,433) |  |  | $ | (76,615) |
Schedule of Reclassifications Out of Other Comprehensive Income | The following table presents components and amounts reclassified out of AOCI to net income:
(in thousands) |  | Affected Line Item in the Statements of Income |  | Amounts Reclassified from AOCI For the Three Months Ended March 31, |
|  |  |  | 2024 |  | 2023 |
Foreign currency exchange contracts |  | Cost of revenue |  | $ | 810 |  |  | $ | 335 |  |
|  | Tax expense |  | (243) |  |  | (117) |  |
|  | Gain, net of tax |  | $ | 567 |  |  | $ | 218 |  |
Interest rate swap contracts |  | Interest expense |  | $ | 957 |  |  | $ | — |  |
|  | Tax expense |  | (227) |  |  | — |  |
|  | Gain, net of tax |  | $ | 730 |  |  | $ | — |  |
Investments |  | Other operating expense |  | $ | (214) |  |  | $ | — |  |
|  | Tax benefit |  | 51 |  |  | — |  |
|  | Loss, net of tax |  | $ | (163) |  |  | $ | — |  |
Defined benefit plans |  | Cost of revenue and operating expenses |  | $ | (113) |  |  | $ | (139) |  |
|  | Tax benefit |  | 19 |  |  | 20 |  |
|  | Loss, net of tax |  | $ | (94) |  |  | $ | (119) |  |

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