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DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES
The Company's forward contracts designated as hedging instruments have maturities up to 1 year, 9 months. The Company's forward contracts that are considered to be economic hedges that are not designated as hedging instruments have maturities up to 3 months.
The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented.
Forward ContractsDecember 31, 2022December 31, 2021
Derivatives designated as hedging instruments:
Sell$808,635 $740,667 
Purchase$177,393 $183,256 
Derivatives not designated as hedging instruments:
Sell$218,903 $113,257 
Purchase$6,785 $31,068 
The fair value carrying amounts of the Company’s derivatives, as classified within the fair value hierarchy, were as follows:
Balance Sheet LocationDecember 31, 2022December 31, 2021
Derivatives designated as hedging instruments:
Asset Derivatives - Level 2 (1)
Other current assets$19,464 $17,357 
Other assets2,059 4,991 
Subtotal$21,523 $22,348 
Liability Derivatives - Level 2 (1)
Accounts payable and accrued liabilities$12,130 $5,487 
Other long-term liabilities1,074 1,378 
Subtotal$13,204 $6,865 
Derivatives not designated as hedging instruments:
Asset Derivatives - Level 2 (1)
Other current assets$1,472 $427 
Liability Derivatives - Level 2 (1)
Accounts payable and accrued liabilities$471 $776 
Total Derivatives Assets$22,995 $22,775 
Total Derivatives Liabilities$13,675 $7,641 
(1)    Refer to Note 1 to these Consolidated Financial Statements for additional information related to the Company’s fair value measurements.
The following tables summarize the impact of gains and losses from the Company's derivatives on its Consolidated Statements of Operations for the periods presented.
Years Ended December 31,
20222021
Derivatives Designated as Cash Flow Hedging InstrumentsCash Flow Hedging Gains (Losses)
Reclassified into Earnings		Cash Flow Hedging Gains (Losses)
Reclassified into Earnings
Net product revenues $48,541 $196 
Operating expenses $(11,917)$(1,650)
Derivatives Not Designated as Hedging InstrumentsGains (Losses) Recognized in EarningsGains (Losses) Recognized in Earnings
Operating expenses$872 $1,548 
As of December 31, 2022, the Company expects to reclassify unrealized losses of $7.2 million from AOCI to earnings as the forecasted revenue and operating expense transactions occur over the next twelve months. For additional discussion of balances in AOCI see Note 11 to these Consolidated Financial Statements.