XML 62 R47.htm IDEA: XBRL DOCUMENT v3.25.4
Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The Company had the following outstanding forward contracts (in thousands):
December 31, 2025December 31, 2024
CurrencyNotional
Value
USD
Equivalent
Notional
Value
USD
Equivalent
Derivatives Not Designated as Hedging Instruments:
Mexican Peso160,000 $8,881 220,000 $10,701 
Hungarian Forint2,500,000 7,600 2,360,000 5,951 
Korean Won9,000,000 6,239 — — 
British Pound4,000 5,383 3,200 4,008 
Indian Rupee400,000 4,436 — — 
Chinese Renminbi20,000 2,865 95,000 12,990 
Japanese Yen400,000 2,563 2,000,000 12,789 
Singapore Dollar (1)
  40,000 29,457 
Euro  25,000 26,029 
Swiss Franc  2,200 2,432 
Canadian Dollar  2,000 1,390 
(1) In January 2026, the Company entered into a forward contract for the Singapore Dollar with a notional value of S$34 million and a USD equivalent of $27 million.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
Information regarding the fair value of the outstanding forward contracts was as follows (in thousands):
 Asset DerivativesLiability Derivatives
Balance Sheet LocationFair ValueBalance Sheet LocationFair Value
Fair Value LevelDecember 31, 2025December 31, 2024Fair Value LevelDecember 31, 2025December 31, 2024
Derivatives Not Designated as Hedging Instruments:
Economic hedge forward contractsPrepaid
expenses and other current assets
Level 2$791 $689 Accrued expensesLevel 2$367 $757 
Offsetting Assets
The following table summarizes the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands):
Asset DerivativesLiability Derivatives
December 31, 2025December 31, 2024December 31, 2025December 31, 2024
Gross amounts of recognized assets$791 $689 Gross amounts of recognized liabilities$367 $757 
Gross amounts offset — Gross amounts offset — 
Net amount of assets presented$791 $689 Net amount of liabilities presented$367 $757 
Derivative Instruments, Gain (Loss)
Information regarding the effect of derivative instruments, net of the underlying exposure, on the consolidated financial statements was as follows (in thousands):
 Location in Financial StatementsYear Ended December 31,
202520242023
Derivatives Not Designated as Hedging Instruments:
Gains (losses) recognized in current operationsForeign currency gain (loss)$1,368 $1,945 $(10,023)