XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.25.1

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Foreign Exchange Gain (Loss) Associated with Foreign Exchange Contracts Not Designated as Hedging Instruments | The foreign exchange loss in our condensed consolidated statements of loss included the following gains (losses) associated with foreign exchange contracts not designated as hedging instruments (in thousands):
|  |  | Three Months Ended March 31,
Foreign Exchange Forward Contracts: |  |  |  |  | 2025 |  | 2024
Gain (loss) recognized in foreign exchange loss |  |  |  |  | $ | 8,607 |  |  | $ | (4,086) |
Schedule of Impact on Accumulated Other Comprehensive Loss and Earnings (Loss) from Derivative Instruments that Qualified as Cash Flow Hedges | The impact on accumulated other comprehensive loss and earnings (loss) from derivative instruments that qualified as cash flow hedges was as follows (in thousands):
|  |  | Three Months Ended March 31,
Interest Rate Contracts: |  |  |  |  | 2025 |  | 2024
Gain (loss) recognized in accumulated other comprehensive loss, net of tax |  |  |  |  | $ | (443) |  |  | $ | 5,177 |
Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax |  |  |  |  | (396) |  |  | (1,356) |
Schedule of Fair Value of Outstanding Derivatives | The following tables summarize the fair value of outstanding derivatives (in thousands):
| Classification | March 31, 2025 |  | December 31, 2024
Assets |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |
Interest rate contracts | Other current assets | $ | 36 |  |  | $ | 959 |
| Other non-current assets | — |  |  | 32 |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange forward contracts | Other current assets | 6,817 |  |  | 2,250 |
Total fair value of derivative asset instruments |  | $ | 6,853 |  |  | $ | 3,241 |
Liabilities |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |
Interest rate contracts | Other non-current liabilities | $ | 163 |  |  | $ | — |
Derivatives not designated as hedging instruments: |  |  |  |
Foreign exchange forward contracts | Accrued liabilities | — |  |  | 10,198 |
Total fair value of derivative liability instruments |  | $ | 163 |  |  | $ | 10,198 |
Schedule of Offsetting Assets | The following table summarizes the potential effect on our condensed consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands):
| March 31, 2025
| Gross Amounts of Recognized Assets/ Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amounts Not Offset in the Consolidated Balance Sheet
Description |  |  |  | Derivative Financial Instruments |  | Cash Collateral Received (Pledged) |  | Net Amount
Derivative assets | $ | 6,853 |  |  | $ | — |  |  | $ | 6,853 |  |  | $ | (121) |  |  | $ | — |  |  | $ | 6,732 |
Derivative liabilities | (163) |  |  | — |  |  | (163) |  |  | 121 |  |  | — |  |  | (42) |
| December 31, 2024
| Gross Amounts of Recognized Assets/ Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amounts Not Offset in the Consolidated Balance Sheet
Description |  |  |  | Derivative Financial Instruments |  | Cash Collateral Received (Pledged) |  | Net Amount
Derivative assets | $ | 3,241 |  |  | $ | — |  |  | $ | 3,241 |  |  | $ | (2,910) |  |  | $ | — |  |  | $ | 331 |
Derivative liabilities | (10,198) |  |  | — |  |  | (10,198) |  |  | 2,910 |  |  | — |  |  | (7,288) |
Schedule of Offsetting Liabilities | The following table summarizes the potential effect on our condensed consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands):
| March 31, 2025
| Gross Amounts of Recognized Assets/ Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amounts Not Offset in the Consolidated Balance Sheet
Description |  |  |  | Derivative Financial Instruments |  | Cash Collateral Received (Pledged) |  | Net Amount
Derivative assets | $ | 6,853 |  |  | $ | — |  |  | $ | 6,853 |  |  | $ | (121) |  |  | $ | — |  |  | $ | 6,732 |
Derivative liabilities | (163) |  |  | — |  |  | (163) |  |  | 121 |  |  | — |  |  | (42) |
| December 31, 2024
| Gross Amounts of Recognized Assets/ Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet |  | Gross Amounts Not Offset in the Consolidated Balance Sheet
Description |  |  |  | Derivative Financial Instruments |  | Cash Collateral Received (Pledged) |  | Net Amount
Derivative assets | $ | 3,241 |  |  | $ | — |  |  | $ | 3,241 |  |  | $ | (2,910) |  |  | $ | — |  |  | $ | 331 |
Derivative liabilities | (10,198) |  |  | — |  |  | (10,198) |  |  | 2,910 |  |  | — |  |  | (7,288) |

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

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-4 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483466/210-20-50-3 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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