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Derivatives | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives We use foreign currency forward contracts to mitigate foreign currency risk of certain assets and monetary liabilities denominated in foreign currencies. We do not enter into such contracts for trading or speculative purposes. These derivative instruments are not designated as hedging instruments. As of December 31, 2023 and 2022, our foreign exchange forward contracts consisted of the following:
| December 31, 2023 |  | December 31, 2022
| Notional Value |  | Fair Value (Level 2) |  | Balance Sheet Location |  | Notional Value |  | Fair Value (Level 2) |  | Balance Sheet Location
| (In thousands)
Japanese yen | $ | 279,027 |  |  | $ | 2,745 |  |  | Other current assets |  | $ | 330,179 |  |  | $ | 6,284 |  |  | Other current assets
Korean won | 59,036 |  |  | (97) |  |  | Accrued expenses |  | 65,927 |  |  | 333 |  |  | Other current assets
Philippine peso | 6,553 |  |  | (20) |  |  | Accrued expenses |  | 3,085 |  |  | (6) |  |  | Accrued expenses
Singapore dollar | 11,506 |  |  | 20 |  |  | Other current assets |  | — |  |  | — |  |  | N/A
Taiwan dollar | 37,914 |  |  | 89 |  |  | Other current assets |  | 28,763 |  |  | (57) |  |  | Accrued expenses
Total forward contracts | $ | 394,036 |  |  | $ | 2,737 |  |  |  |  | $ | 427,954 |  |  | $ | 6,554 |  |  |
For the years ended December 31, 2023, 2022 and 2021, the derivatives resulted in a net loss of $38.6 million, $60.2 million and $58.8 million, respectively, which were partially offset by the foreign currency gains associated with the underlying net assets or liabilities.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//815/tableOfContent + Details
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