Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

e effects of fair value and cash flow hedge accounting on the consolidated statements of operations for the periods ended December 31, were as follows:


				2023						2022
(in thousands)				Cost of sales		Interest expense, net		Other & foreign exchange loss, net		Cost of sales		Interest expense, net		Other & foreign exchange loss, net
Total amounts of income and expense line items presented in the Consolidated Statements of Operations in which the effects of fair value or cash flow hedges are recorded				$	1,170,048	$	3,391	$	(1,993)	$	1,174,794	$	(7,594)	$	(3,408)
The effects of fair value and cash flow hedging
	Gain or (loss) on cash flow hedging relationships
		Interest contracts:
			Amount of gain or (loss) reclassified from OCI to earnings	—		15,722		—		—		(1,012)		—
		Cross currency swap contract
			Amount of gain or (loss) reclassified from OCI to earnings	—		5,170		(12,704)		—		5,650		14,349
		Forward contract
			Amount of gain or (loss) reclassified from OCI to earnings	(155)		—		—		122		—		—

The effects of derivative instruments on the consolidated statements of operations for the twelve months ended December 31, 2023 and December 31, 2022 were as follows:


Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCI				Location of Gain (Loss) Reclassified from OCI into Earnings	Gain (Loss) Reclassified from OCI into Earnings
	2023		2022			2023		2022
Interest rate contracts	$	4,668	$	26,830	Interest expense	$	15,722	$	(1,012)
Cross currency contracts	(14,737)		26,174		Interest expense	5,170		5,650
Forward contracts	(124)		231		FX gain (loss)	(12,704)		14,349
					Cost of goods sold	(155)		—
Total	$	(10,193)	$	53,235		$	8,033	$	18,987