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6. Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following tables present the fair values of derivative instruments included in our condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023 (in thousands):

						September 30, 2024
						Other Current Assets												Other Current Liabilities
Derivatives designated as hedging instruments:
Commodity swap contracts						$	—											$	469
Total derivatives designated as hedging instruments						$	—											$	469
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts						$	2,228											$	2,602
Total derivatives not designated as hedging instruments						$	2,228											$	2,602
Total derivative instruments						$	2,228											$	3,071

						December 31, 2023
						Other Current Assets												Other Current Liabilities
Derivatives designated as hedging instruments:
Commodity swap contracts						$	—											$	344
Total derivatives designated as hedging instruments						$	—											$	344
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts						$	1,778											$	1,400
Total derivatives not designated as hedging instruments						$	1,778											$	1,400
Total derivative instruments						$	1,778											$	1,744

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the pretax amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive income (loss) and our condensed consolidated statements of operations for the nine months ended September 30, 2024 and 2023 (in thousands):

												Commodity Swap Contracts
Balance as of December 31, 2023												$	(1,493)
Amounts recognized in other comprehensive income (loss)												(1,094)
Amount reclassified to cost of sales												1,715
Balance as of September 30, 2024												$	(872)
Balance as of December 31, 2022												$	(7,242)
Amounts recognized in other comprehensive income (loss)												(962)
Amount reclassified to cost of sales												5,576
Balance as of September 30, 2023												$	(2,628)

Derivative Instruments, Gain (Loss) [Table Text Block]

The following table presents the effect of derivative instruments not designated as hedges on our condensed consolidated statements of operations for the three and nine months ended September 30, 2024 and 2023 (in thousands):

												Amount of Gain (Loss) Recognized in Income Statement
												Three Months Ended September 30,												Nine Months Ended September 30,
						Income Statement Line Item						2024						2023						2024						2023
Foreign exchange forward contracts						Foreign currency loss, net						$	12,759					$	4,533					$	(3,049)					$	(9,568)

Schedule of Notional Value of Foreign Exchange Forward Derivatives [Table Text Block]

As of September 30, 2024 and December 31, 2023, the notional values of our foreign exchange forward contracts that do not qualify for hedge accounting were as follows (notional amounts and U.S. dollar equivalents in millions):

September 30, 2024

Transaction

Currency

Notional Amount

USD Equivalent

Sell

Canadian dollar

CAD 4.2

$3.1

Purchase

Euro

€155.5

$173.6

Sell

Euro

€8.6

$9.6

Purchase

Indian rupee

INR 18,055.0

$215.7

Sell

Indian rupee

INR 83,157.0

$993.3

Purchase

Japanese yen

¥1,464.0

$10.3

Sell

Japanese yen

¥563.6

$4.0

Purchase

Malaysian ringgit

MYR 193.0

$46.8

Sell

Malaysian ringgit

MYR 17.0

$4.1

Sell

Mexican peso

MXN 34.6

$1.8

Purchase

Singapore dollar

SGD 14.1

$11.0

Sell

Singapore dollar

SGD 19.7

$15.4

December 31, 2023

Transaction

Currency

Notional Amount

USD Equivalent

Sell

Canadian dollar

CAD 4.2

$3.2

Sell

Chilean peso

CLP 1,372.6

$1.6

Purchase

Euro

€98.3

$108.7

Sell

Euro

€14.1

$15.6

Sell

Indian rupee

INR 62,967.4

$756.9

Purchase

Japanese yen

¥1,053.6

$7.5

Sell

Japanese yen

¥705.2

$5.0

Purchase

Malaysian ringgit

MYR 160.7

$35.0

Sell

Mexican peso

MXN 34.6

$2.0

Purchase

Singapore dollar

SGD 6.5

$4.9

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Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

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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 the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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