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Hedging Activity and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Foreign Currency Hedges

The fair value of our interest rate swap hedges is classified in the accompanying consolidated balance sheets, as of June 30, 2023, as follows:

Schedule of Fair Value of Foreign Currency Hedges

Derivative Assets

Derivative Liabilities

June 30, 2023

June 30, 2023

Derivatives designated as hedging instruments under Subtopic 815-20:

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Derivative instruments:

Interest rate swap contracts and foreign currency non-delivery forwards

Other current assets

$

9,173

Accrued liabilities

$

-

Total derivative instruments

Total derivative assets

$

9,173

Total derivative liabilities

$

-

Schedule of Gains (Losses) on Derivative Financial Instruments quarter ended

The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying consolidated financial statements, for the quarter ended June 30, 2023:

Schedule of Gains (Losses) on Derivative Financial Instruments quarter ended

		Derivatives in Cash Flow Hedging Relationships
		Amount of Gain or (Loss) Recognized in OCI (Loss) on Derivatives								Location of Gain or (Loss) Reclassified from Accumulated OCI (Loss) into Income		Amount of Gain or (Loss) Reclassified from Accumulated OCI (Loss) into Income
		Three Months Ended										Three Months Ended
		June 30,				June 30,						June 30,				June 30,
		2023				2022						2023				2022
Interest rate swap contracts and foreign currency non-delivery forwards contracts		$	1,823			$	1,710			Interest expense and operating income		$	918			$	-

The following table presents the gains (losses) on derivative financial instruments, and their classifications within the accompanying consolidated financial statements, for the six months ended June 30, 2023:

		Derivatives in Cash Flow Hedging Relationships
		Amount of Gain or (Loss)								Location of Gain or (Loss) Reclassified from Accumulated		Amount of Gain or (Loss) Reclassified from
		Recognized in OCI (Loss) on								OCI (Loss) into		Accumulated
		Derivatives								Income		OCI (Loss) into Income
		Six Months Ended										Six Months Ended
		June 30,				June 30,						June 30,				June 30,
		2023				2022						2023				2022
Interest Rate Swap Contracts		$	9,173			$	4,332			Interest Expense and Operating Income		$	4,054			$	-

Summary of Fair Value and Carrying Amounts of Long Term Debt

The following table summarizes the fair value and carrying amounts of our long-term debt:

Summary of Fair Value and Carrying Amounts of Long Term Debt

		June 30, 2023				December 31, 2022
Fair Value			168,235				194,285
Carrying Value			169,003				168,980

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