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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Value of Derivative Instruments
As of December 31, 2022, the fair value of the derivative instruments is presented as follows in the Company's condensed consolidated balance sheets:

Derivative assetsDecember 31, 2022
Interest rate swap$1,406 
Cross-currency swap4,587 
Derivative assets$5,993 
Schedule of Gains (Losses) on Hedging Instruments
Losses and gains on our hedging instruments were recognized in accumulated other comprehensive income (loss) and categorized as follows for the three and six months ended June 30, 2023 and 2022:

Location within Statements of Comprehensive IncomeThree Months Ended
June 30,		Six Months Ended
June 30,
2023202220232022
Cash flow hedge (interest rate swap), net of taxUnrealized (loss) gain on cash flow hedge, net$(554)$850 $(1,065)$2,423 
Net investment hedge (cross-currency swap), net of taxNet foreign currency translation adjustment(434)3,963 (1,455)5,086 
Total$(988)$4,813 $(2,520)$7,509 
Schedule of Key Terms of Forward Exchange Contracts
The following table summarizes the key terms of the four forward exchange contracts:

Date entered intoDate expired onBalchem to sellBalchem to buy
June 15, 2022June 21, 2022USD294,555 NOK2,924,553 
June 15, 2022June 17, 2022USD6,436 EUR6,180 
June 15, 2022June 21, 2022USD16,640 EUR15,972 
June 15, 2022June 21, 2022EUR15,972 NOK165,210