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DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Aggregate Notional Amounts for the Derivatives Outstanding | The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented.
Forward Contracts | June 30, 2024 |  | December 31, 2023
Derivatives designated as hedging instruments: |  |  |
Sell | $ | 1,086,980 |  |  | $ | 1,249,662 |
Purchase | $ | 192,162 |  |  | $ | 198,408 |
Derivatives not designated as hedging instruments: |  |  |
Sell | $ | 281,438 |  |  | $ | 350,269 |
Purchase | $ | 28,824 |  |  | $ | 90,102 |
Schedule of Fair Value Carrying Amounts of Derivatives | The fair value carrying amounts of the Company’s derivatives, which are classified as Level 2 within the fair value hierarchy, were as follows:
Balance Sheet Location | June 30, 2024 |  | December 31, 2023
Derivatives designated as hedging instruments: |  |  |
Asset Derivatives |  |  |
Other current assets | $ | 27,599 |  |  | $ | 6,663 |
Other assets | 8,236 |  |  | 1,855 |
Subtotal | $ | 35,835 |  |  | $ | 8,518 |
Liability Derivatives |  |  |
Accounts payable and accrued liabilities | $ | 6,407 |  |  | $ | 30,005 |
Other long-term liabilities | 1,257 |  |  | 8,171 |
Subtotal | $ | 7,664 |  |  | $ | 38,176 |
Derivatives not designated as hedging instruments: |  |  |
Asset Derivatives |  |  |
Other current assets | $ | 2,352 |  |  | $ | 547 |
Liability Derivatives |  |  |
Accounts payable and accrued liabilities | $ | 1,277 |  |  | $ | 3,848 |
Total Derivatives Assets | $ | 38,187 |  |  | $ | 9,065 |
Total Derivatives Liabilities | $ | 8,941 |  |  | $ | 42,024 |
Schedule of Impact of Gains and Losses from Derivatives Designated and Not 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 |  | Six Months Ended June 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Derivatives Designated as Cash Flow Hedging Instruments |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings |  | Cash Flow Hedging Gains (Losses) Reclassified into Earnings
Net product revenues |  | $ | 3,371 |  |  | $ | 677 |  |  | $ | 2,252 |  |  | $ | 4,147 |
Operating expenses |  | $ | (190) |  |  | $ | (26) |  |  | $ | 314 |  |  | $ | (482) |
Derivatives Not Designated as Hedging Instruments |  | Gains (Losses) Recognized in Earnings |  | Gains (Losses) Recognized in Earnings |  | Gains (Losses) Recognized in Earnings |  | Gains (Losses) Recognized in Earnings
Operating expenses |  | $ | 13,812 |  |  | $ | 769 |  |  | $ | 21,541 |  |  | $ | (3,394) |

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