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ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
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Jun. 30, 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 Six Months Ended June 30, 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 |  |  | 8,146 |  |  | 2,790 |  |  | 2,336 |  |  | 3,384 |  |  | — |  |  | (27,658) |  |  | (11,001) |
Reclassified from accumulated other comprehensive income |  | 163 |  |  | (1,808) |  |  | (1,476) |  |  | — |  |  | — |  |  | 147 |  |  | — |  |  | (2,974) |
Balance as of June 30, 2024 |  | $ | — |  |  | $ | 3,941 |  |  | $ | 2,420 |  |  | $ | 4,682 |  |  | $ | 4,812 |  |  | $ | (3,412) |  |  | $ | (97,624) |  |  | $ | (85,181) |
|  | For the Six Months Ended June 30, 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 |  | 7 |  |  | (340) |  |  | 3,505 |  |  | (1,843) |  |  | (3,016) |  |  | — |  |  | 6,010 |  |  | 4,323 |
Reclassified from accumulated other comprehensive income |  | — |  |  | (273) |  |  | (216) |  |  | — |  |  | — |  |  | 297 |  |  | — |  |  | (192) |
Balance as of June 30, 2023 |  | $ | (165) |  |  | $ | 226 |  |  | $ | 3,289 |  |  | $ | 3,104 |  |  | $ | 4,041 |  |  | $ | (2,479) |  |  | $ | (81,681) |  |  | $ | (73,665) |
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 June 30, |  | Amounts Reclassified from AOCI For the Six Months Ended June 30,
|  |  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Foreign currency exchange contracts |  | Cost of revenue |  | $ | 1,721 |  |  | $ | 115 |  |  | $ | 2,531 |  |  | $ | 450 |
|  | Tax expense |  | (480) |  |  | (60) |  |  | (723) |  |  | (177) |
|  | Gain, net of tax |  | $ | 1,241 |  |  | $ | 55 |  |  | $ | 1,808 |  |  | $ | 273 |
Interest rate swap contracts |  | Interest expense |  | $ | 979 |  |  | $ | 283 |  |  | $ | 1,936 |  |  | $ | 283 |
|  | Tax expense |  | (233) |  |  | (67) |  |  | (460) |  |  | (67) |
|  | Gain, net of tax |  | $ | 746 |  |  | $ | 216 |  |  | $ | 1,476 |  |  | $ | 216 |
Investments |  | Other operating expense |  | $ | — |  |  | $ | — |  |  | $ | (214) |  |  | $ | — |
|  | Tax benefit |  | — |  |  | — |  |  | 51 |  |  | — |
|  | Loss, net of tax |  | $ | — |  |  | $ | — |  |  | $ | (163) |  |  | $ | — |
Defined benefit plans |  | Cost of revenue and operating expenses |  | $ | (63) |  |  | $ | (212) |  |  | $ | (176) |  |  | $ | (351) |
|  | Tax benefit |  | 10 |  |  | 34 |  |  | 29 |  |  | 54 |
|  | Loss, net of tax |  | $ | (53) |  |  | $ | (178) |  |  | $ | (147) |  |  | $ | (297) |

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