Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

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


				2024						2023
(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				$	1,206,288	$	5,277	$	(1,209)	$	1,170,048	$	3,391	$	(1,993)
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	—		11,712		—		—		15,722		—
		Cross currency swap contract
			Amount of gain or (loss) reclassified from OCI to earnings	—		4,939		26,577		—		5,170		(12,704)
		Forward contract
			Amount of gain or (loss) reclassified from OCI to earnings	(188)		—		—		(155)		—		—

The effects of derivative instruments on the consolidated statements of operations for the twelve months ended December 31, 2024 and December 31, 2023 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
(in thousands)	2024		2023			2024		2023
Interest rate contracts	$	8,589	$	4,668	Interest expense	$	11,712	$	15,722
Cross currency contracts	28,974		(14,737)		Interest expense	4,939		5,170
Forward contracts			(124)		FX gain (loss)	26,577		(12,704)
					Cost of goods sold	(188)		(155)
Total	$	37,563	$	(10,193)		$	43,040	$	8,033