XML 49 R38.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Fair Value of Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Fair Value of Long-Term Debt | The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings.
| March 31, 2024 |  | December 31, 2023
| Recorded Amount |  | Fair Value |  | Recorded Amount |  | Fair Value
| (In thousands)
Long-term debt | $ | 3,543,472 |  |  | $ | 3,350,906 |  |  | $ | 4,186,532 |  |  | $ | 4,021,693 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table summarizes the fair value of our foreign currency forward contracts included in the consolidated balance sheets as of March 31, 2024 and December 31, 2023 (in thousands):
| March 31, 2024 |  | December 31, 2023
| Assets |  | Liabilities |  | Assets |  | Liabilities
Designated as hedging instruments |  |  |  |  |  |  |
Other current assets | $ | — |  |  | $ | — |  |  | $ | 3,489 |  |  | $ | — |
Other assets | — |  |  | — |  |  | 11,704 |  |  | — |
Accrued expenses | — |  |  | 3,954 |  |  | — |  |  | 446 |
Other noncurrent liabilities | — |  |  | 6,291 |  |  | — |  |  | — |
Total designated as hedging instruments | — |  |  | 10,245 |  |  | 15,193 |  |  | 446 |
Not designated as hedging instruments |  |  |  |  |  |  |
Other current assets | 2,239 |  |  | — |  |  | 2,636 |  |  | — |
Accrued expenses | — |  |  | 6,935 |  |  | — |  |  | 5,306 |
Total not designated as hedging instruments | 2,239 |  |  | 6,935 |  |  | 2,636 |  |  | 5,306 |
Total | $ | 2,239 |  |  | $ | 17,180 |  |  | $ | 17,829 |  |  | $ | 5,752 |
Derivative Instruments, Losses | The following table summarizes the net (losses) gains recognized for our foreign currency forward contracts during the three-month periods ended March 31, 2024 and 2023 (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Designated as hedging instruments |  |  |  |  |  |  |
(Loss) income recognized in Other comprehensive (loss) income |  |  |  |  | $ | (21,342) |  |  | $ | 1,101 |
Loss recognized in Other income, net |  |  |  |  | $ | (2,682) |  |  | $ | — |
Not designated as hedging instruments |  |  |  |  |  |  |
Income recognized in Other income, net(a) |  |  |  |  | $ | 14,822 |  |  | $ | 35,233 |
(a) Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration