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Derivative Instruments | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | The Company uses derivative instruments, specifically, forward foreign exchange contracts, to manage the risk associated with the volatility of future cash flows. The forward foreign exchange contracts are used to mitigate the impact of exchange rate fluctuations on certain forecasted inventory purchases and are designated as cash flow hedges. The notional amounts of the Company’s outstanding derivative instruments as of March 31, 2025 and December 31, 2024 were as follows:
|  | March 31, 2025 |  | December 31, 2024
Derivative instruments designated as accounting hedges: |  |  |  |
Foreign exchange contracts |  | $ | 282,122 |  |  | $ | 90,031 |
The fair value of the Company’s outstanding derivative instruments as of March 31, 2025 and December 31, 2024 were as follows:
| Balance Sheet Classification |  | March 31, 2025 |  | December 31, 2024
Assets: |  |  |  |  |
Forward contracts | Other current assets |  | $ | 4,972 |  |  | $ | 2,175 |
Liabilities: |  |  |  |  |
Forward contracts | Other current liabilities |  | $ | 192 |  |  | $ | 816 |
The following table presents the pretax impact of gains from the Company's designated derivative instruments on its Condensed Consolidated Financial Statements for the periods ended March 31, 2025 and March 31, 2024:
| March 31, 2025 |  | March 31, 2024
Cash flow hedges: |  |  |
Foreign exchange contracts | $ | 3,475 |  |  | $ | 1,687 |
As of March 31, 2025, the current maturity dates of the Company’s derivative instruments range from April 2025 to December 2025. For the periods ended March 31, 2025 and 2024, the Company's hedging activities were deemed effective, with no ineffectiveness recognized in the Condensed Consolidated Statements of Income. Gains and losses from these hedging activities are recorded in cost of sales in the Condensed Consolidated Statements of Income.

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- Definition The entire disclosure for derivatives and fair value of assets and liabilities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/820/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
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