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HEDGING INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Net Investment Hedges and Income Statement Impact of Hedging Instruments | The following table presents the effect of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provides information regarding the location and amounts of pretax gains or losses of derivatives:
(in thousands) |  | Financial statement line items in which effects of cash flow hedges are recorded |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  | 2024 |  | 2023 |  | 2024 |  | 2023
Foreign exchange contracts |  | Cost of revenue |  | $ | 379,505 |  |  | $ | 367,545 |  |  | $ | 1,134,949 |  |  | $ | 1,095,549 |
Amount of gain reclassified from accumulated other comprehensive income into net income |  |  |  | $ | 512 |  |  | $ | 1,273 |  |  | $ | 3,043 |  |  | $ | 1,723 |
Interest rate swap contract |  | Interest expense |  | $ | (7,697) |  |  | $ | (8,647) |  |  | $ | (23,707) |  |  | $ | (32,316) |
Amount of gain reclassified from accumulated other comprehensive income into net income |  |  |  | $ | 860 |  |  | $ | 1,385 |  |  | $ | 2,796 |  |  | $ | 1,668 |
Schedule of Hedging Instruments | The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following:
(in thousands) |  |  |  | Hedging Assets
|  |  |  | September 30, 2024 |  | December 31, 2023
Derivatives and non-derivatives designated as hedging instruments |  | Balance Sheet Classification |  |  |  |
Foreign currency exchange contracts |  | Other current assets |  | $ | 978 |  |  | $ | 1,783 |
Cross currency swaps |  | Other current assets |  | 694 |  |  | — |
Interest rate swap contract |  | Other long-term assets |  | — |  |  | 1,451 |
Foreign currency exchange contracts |  | Other long-term assets |  | 10 |  |  | — |
Cross currency swaps |  | Other long-term assets |  | — |  |  | 664 |
Total derivative instruments presented as hedging instruments on the balance sheet |  |  |  | 1,682 |  |  | 3,898 |
Gross amounts subject to master netting arrangements not offset on the balance sheet |  |  |  | (988) |  |  | (1,783) |
Net amount |  |  |  | $ | 694 |  |  | $ | 2,115 |
(in thousands) |  |  |  | Hedging Liabilities
|  |  |  | September 30, 2024 |  | December 31, 2023
Derivatives and non-derivatives designated as hedging instruments |  | Balance Sheet Classification |  |  |  |
Foreign currency exchange contracts |  | Accrued liabilities |  | $ | 5,621 |  |  | $ | 5,532 |
Cross currency swaps |  | Other long-term liabilities |  | 5,557 |  |  | 5,041 |
Interest rate swap contract |  | Other long-term liabilities |  | 38 |  |  | — |
Foreign currency exchange contracts |  | Other long-term liabilities |  | 1,316 |  |  | — |
Total derivative instruments presented as hedging instruments on the balance sheet |  |  |  | 12,532 |  |  | 10,573 |
Non-derivative foreign currency denominated debt designated as net investment hedge on the balance sheet (1) |  | Long-term debt |  | 99,147 |  |  | 98,187 |
Total hedging instruments presented on the balance sheet |  |  |  | 111,679 |  |  | 108,760 |
Gross amounts subject to master netting arrangements not offset on the balance sheet |  |  |  | (988) |  |  | (1,783) |
Net amount |  |  |  | $ | 110,691 |  |  | $ | 106,977 |
(1) Amounts represent reported carrying amounts of our foreign currency-denominated debt. Refer to “Note 18. Fair Value Measurements” for information regarding the fair value of our long-term debt.

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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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