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Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Gains (Losses) for Derivative Instruments

Unrealized (losses) gains recognized in Accumulated other comprehensive items, net during the three months ended March 31, 2025 and 2024, by derivative instrument, are as follows:

			THREE MONTHS ENDED MARCH 31,
DERIVATIVE INSTRUMENTS			2025						2024
Cash Flow Hedges
Interest rate swap agreements			$	(6,993)					$	11,388
Net Investment Hedges
Cross-currency swap agreements			(25,119)						8,312
Cross-currency swap agreements (excluded component)			4,176						4,176

(Losses) gains recognized in Net income (loss) during the three months ended March 31, 2025 and 2024, by derivative instrument, are as follows:

						THREE MONTHS ENDED MARCH 31,
DERIVATIVE INSTRUMENTS			LOCATION OF (LOSS) GAIN			2025						2024
Cash Flow Hedges
Interest rate swap agreements			Interest expense			$	—					$	2,528
Net Investment Hedges
Cross-currency swap agreements (excluded component)			Interest expense			(4,176)						(4,176)

Schedule of Interest Rate Derivatives

The notional values of our cross-currency swaps, by currency, as of March 31, 2025 and December 31, 2024, are as follows:

			MARCH 31, 2025						DECEMBER 31, 2024
Euro			$	509,187					$	509,187
Canadian dollar			350,000						350,000
			$	859,187					$	859,187

Schedule of Derivative Instruments

The fair values of derivative instruments recognized in our Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024, by derivative instrument, are as follows:

			MARCH 31, 2025												DECEMBER 31, 2024
DERIVATIVE INSTRUMENTS(1)			ASSETS						LIABILITIES						ASSETS						LIABILITIES
Cash Flow Hedges(2)
Interest rate swap agreements			$	1,091					$	(11,523)					$	1,887					$	(5,326)
Net Investment Hedges(3)
Cross-currency swap agreements			6,623						(5,537)						26,205						—

(1)Our derivative assets are included as a component of (i) Prepaid expenses and other or (ii) Other within Other assets, net and our derivative liabilities are included as a component of (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Condensed Consolidated Balance Sheets. As of March 31, 2025, $1,500 is included within Prepaid expenses and other, $6,214 is included within Other assets, $5,537 is included within Accrued expenses and other current liabilities and $11,523 is included within Other long-term liabilities. As of December 31, 2024, $8,891 is included within Prepaid expenses and other, $19,201 is included within Other assets, and $5,326 is included within Other long-term liabilities.

(2)As of March 31, 2025, cumulative net losses recorded within Accumulated other comprehensive items, net associated with our interest rate swap agreements are $8,816.

(3)As of March 31, 2025, cumulative net gains recorded within Accumulated other comprehensive items, net associated with our cross-currency swap agreements are $52,164, which include $51,078 related to the excluded component of our cross-currency swap agreements.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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