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Derivative Instruments and Hedges (Tables) | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Value of Forward Exchange Contracts not Designated as Hedging Instruments | The fair values of foreign exchange forward contracts are summarized below:
| June 30, |  | December 31,
(Amounts in thousands) | 2023 |  | 2022
Current derivative assets | $ | 4,310 |  |  | $ | 2,207 |
Noncurrent derivative assets | 10 |  |  | 66 |
Current derivative liabilities | 3,100 |  |  | 4,422 |
Noncurrent derivative liabilities | 23 |  |  | 63 |
Impact of Net Changes in Fair Values of Forward Exchange Contracts Not Designated as Hedging Instruments | The impact of net changes in the fair values of foreign exchange forward contracts are summarized below:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Amounts in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
Gains (losses) recognized in income | $ | 258 |  |  | $ | 2,592 |  |  | $ | (1,725) |  |  | $ | 233 |
The cumulative net investment hedge (gains) losses, net of deferred taxes, under cross-currency swaps recorded in AOCL on our condensed consolidated balance sheet are summarized below:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Amounts in thousands) | 2023 |  | 2022 |  | 2023 |  | 2022
(Gain) loss-included component (1) | $ | — |  |  | $ | (18,870) |  |  | $ | — |  |  | $ | (44,256) |
(Gain) loss-excluded component (2) | — |  |  | (7,634) |  |  | — |  |  | (8,508) |
(Gain) loss recognized in AOCL | $ | — |  |  | $ | (26,504) |  |  | $ | — |  |  | $ | (52,764) |
_____________________________________________ (1) Change in the fair value of the swaps attributable to changes in spot rates. (2) Change in the fair value of the swaps due to changes other than those attributable to spot rates.

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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CC + Details
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