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DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables) | 9 Months Ended
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Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivatives Designated as Hedging Instruments Outstanding | The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented.
Forward Contracts | September 30, 2022 |  | December 31, 2021
Derivatives designated as hedging instruments: |  |  |
Sell | $ | 483,387 |  |  | $ | 740,667 |
Purchase | $ | 99,212 |  |  | $ | 183,256 |
Derivatives not designated as hedging instruments: |  |  |
Sell | $ | 118,026 |  |  | $ | 113,257 |
Purchase | $ | 5,812 |  |  | $ | 31,068 |
Schedule of Fair Value Carrying Amount of Derivatives | The fair value carrying amounts of the Company’s derivatives, as classified within the fair value hierarchy, were as follows:
Balance Sheet Location | September 30, 2022 |  | December 31, 2021
Derivatives designated as hedging instruments: |  |  |
Asset Derivatives - Level 2 (1) |  |  |
Other current assets | $ | 51,050 |  |  | $ | 17,357 |
Other assets | 10,012 |  |  | 4,991 |
Subtotal | $ | 61,062 |  |  | $ | 22,348 |
Liability Derivatives - Level 2 (1) |  |  |
Accounts payable and accrued liabilities | $ | 12,979 |  |  | $ | 5,487 |
Other long-term liabilities | 2,226 |  |  | 1,378 |
Subtotal | $ | 15,205 |  |  | $ | 6,865 |
Derivatives not designated as hedging instruments: |  |  |
Asset Derivatives - Level 2 (1) |  |  |
Other current assets | $ | 81 |  |  | $ | 427 |
Liability Derivatives - Level 2 (1) |  |  |
Accounts payable and accrued liabilities | $ | 96 |  |  | $ | 776 |
Total Derivatives Assets | $ | 61,143 |  |  | $ | 22,775 |
Total Derivatives Liabilities | $ | 15,301 |  |  | $ | 7,641 |
(1) For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Schedule of Impact of Gains and Losses from Derivatives Designated as Hedging Instruments | The following tables summarize the impact of gains and losses from the Company's derivatives on its Condensed Consolidated Statements of Comprehensive Income for the periods presented.
| Three Months Ended September 30,
| 2022 |  | 2021
Derivatives Designated as Cash Flow Hedging Instruments |  |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings |  |  |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings
Net product revenues as reported | $ | 493,348 |  |  | $ | 15,280 |  |  | $ | 393,840 |  |  | $ | 401 |
Operating expenses as reported | $ | 507,761 |  |  | $ | (3,936) |  |  | $ | 461,961 |  |  | $ | (268) |
Derivatives Not Designated as Hedging Instruments |  |  | Gains (Losses) Recognized in Earnings |  |  |  | Gains (Losses) Recognized in Earnings
Operating expenses |  |  | $ | 6,572 |  |  |  |  | $ | 1,302 |
| Nine Months Ended September 30,
| 2022 |  | 2021
Derivatives Designated as Cash Flow Hedging Instruments |  |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings |  |  |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings
Net product revenues as reported | $ | 1,516,533 |  |  | $ | 26,779 |  |  | $ | 1,348,279 |  |  | $ | (5,034) |
Operating expenses as reported | $ | 1,384,439 |  |  | $ | (7,115) |  |  | $ | 1,412,926 |  |  | $ | 81 |
Derivatives Not Designated as Hedging Instruments |  |  | Gains (Losses) Recognized in Earnings |  |  |  | Gains (Losses) Recognized in Earnings
Operating expenses |  |  | $ | 12,812 |  |  |  |  | $ | 2,310 |

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