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Derivatives and Hedging Activities (Notes)
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Disclosure [Text Block] DERIVATIVES AND HEDGING ACTIVITIES
Hedge Accounting and Hedging Program

The purposes of our cash flow hedging programs are to manage the foreign currency exchange rate risk on forecasted revenues and expenses denominated in currencies other than the functional currency of the operating unit, and to manage floating interest rate risk associated with future interest payments on variable-rate term loans issued in 2022 and refinanced in 2025. We do not issue derivatives for trading or speculative purposes.

To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge, and the hedges must be highly effective in offsetting changes to future cash flows on hedged transactions. The derivative instruments we utilize, including various foreign exchange contracts and interest rate swaps, are designated and qualify as cash flow hedges. Our derivative instruments are recorded at fair value on the consolidated balance sheets and are classified based on the instrument's maturity date. We record changes in the fair value of the effective portion of the gain or loss on the derivative instrument as a component of other comprehensive (loss) income and we reclassify that gain or loss into earnings in the same line item associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings.

Foreign Currency Exchange Rate Risk

Foreign Exchange Forward Contracts

We enter into foreign exchange forward contracts to hedge a portion of our forecasted foreign currency-denominated revenues and expenses to minimize the effect of foreign exchange rate movements on the related cash flows. These contracts are agreements to buy or sell a quantity of a currency at a predetermined future date and at a predetermined exchange rate. Our current foreign exchange forward contracts hedge exposures principally denominated in Mexican Pesos ("MXN"), Euros, Japanese Yen ("JPY"), Chinese Renminbi ("CNH"), Canadian Dollar ("CAD"), U.S. Dollar ("USD") and Australian Dollar ("AUD") and have varying maturities with an average term of approximately nine months. The total notional amount of these outstanding derivative contracts as of December 31, 2025 was $24.3 million, which included the notional equivalent of $3.3 million in MXN, $7.5 million in JPY, $3.5 million in Euros, $6.5 million in AUD, $3.1 million in USD and $0.4 million in other foreign currencies, with terms currently through December 2025.

Floating Interest Rate Risk

In 2022, we entered into interest rate swaps to reduce the interest rate volatility on our variable-rate term loan A and variable-rate term loan B (see Note 12: Long-Term Obligations). We exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional amount. Effective March 30, 2022, the term loan A swap, as amended, has an initial notional amount of $300.0 million, reducing to $150.0 million evenly on a quarterly basis through its final maturity on March 30, 2027. We pay a fixed rate of 1.32% and will receive the greater of 3-
month USD SOFR or (0.15)%. The total notional amount of this outstanding derivative as of December 31, 2025 was approximately $181.6 million. Effective March 30, 2022, the term loan B swap, as amended, has an initial notional amount of $750.0 million, reducing to $46.9 million evenly on a quarterly basis through its final maturity on March 30, 2026. We pay a fixed rate of 1.17% and receive the greater of 3-month USD SOFR or 0.35%. The total notional amount of this outstanding derivative as of December 31, 2025 was approximately $46.9 million. In June 2023, we entered into an additional interest rate swap that hedges both term loan A and term loan B interest payments. The total notional amount of the swap is $300.0 million. The hedge matures on June 30, 2028. We pay a fixed rate of 3.88% and receive 3-months USD SOFR. These forward-starting swaps effectively convert the relevant portion of the floating-rate term loans to fixed rates.    

The following table presents the fair values of our derivative instruments included within the consolidated balance sheets (in thousands):
Derivatives Designated as Cash Flow Hedging Instruments
Consolidated Balance Sheet LocationForeign Exchange Forward ContractsInterest Rate SwapsGross Derivatives
As of December 31, 2025
Prepaid expenses and other current assets$1,093 $3,745 $4,838 
Other assets70 664 734 
Total assets$1,163 $4,409 $5,572 
Accrued liabilities$479 $1,508 $1,987 
Other long-term liabilities67 3,196 3,263 
Total liabilities$546 $4,704 $5,250 
Derivatives Designated as Cash Flow Hedging Instruments
As of December 31, 2024Foreign Exchange Forward ContractsForward-Starting Interest Rate SwapsGross Derivatives
Prepaid expenses and other current assets$6,716 $11,038 $17,754 
Other assets— 5,724 5,724 
Total assets$6,716 $16,762 $23,478 
Accrued liabilities$7,391 $— $7,391 
Other long-term liabilities— — — 
Total liabilities$7,391 $— $7,391 

    The following table presents the effects of our derivative instruments designated as cash flow hedges on the Consolidated Statements of Operations (in thousands):
Gain Reclassified From Accumulated Other Comprehensive (Loss) Income into Income
Location of Gain in the Consolidated Statements of OperationsYear Ended December 31,
202520242023
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contractsTotal revenues$1,237 $2,981 $296 
Foreign exchange forward contractsCost of goods sold1,147 91 7,852 
Foreign exchange forward contracts
Other expense, net(1)
— — 229 
Foreign exchange forward contracts
Interest expense(2)
— — 13 
Interest rate swapsInterest expense12,042 27,132 32,444 
Total derivatives designated as cash flow hedging instruments$14,426 $30,204 $40,834 
_______________________________
(1) Represents location of gain reclassified from accumulated other comprehensive (loss) income into other expense, net as a result of ineffectiveness.
(2) Represents location of gain reclassified from accumulated other comprehensive (loss) income into interest expense as a result of a forecasted transaction being no longer probable of occurring.

We recognized the following (losses) gains on our derivative instruments designated as cash flow hedges in other comprehensive loss before reclassifications to income (in thousands):
Amount of Gain (Loss) Recognized in Other Comprehensive Loss
Year Ended December 31,
202520242023
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts$3,508 $(1,912)$10,788 
Interest rate swaps(5,015)15,954 5,200 
Total derivatives designated as cash flow hedging instruments$(1,507)$14,042 $15,988 

As of December 31, 2025, we expect an estimated $0.6 million in deferred gains on the outstanding foreign exchange forward contract and an estimated $2.3 million in deferred gains on the forward-starting interest rate swaps will be reclassified from accumulated other comprehensive loss to net income during the next 12 months concurrent with the underlying hedged transactions also being reported in net (loss) income.