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Forward Contract (Tables) | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Settled and Outstanding Forward Contracts | The following table presents the Company's settled forward contracts and realized and unrealized losses (gains) associated with our derivative contracts:
| Three months ended March 31,
(in thousands) | 2022 |  | 2021
Total notional amount of settled forward contracts | $ | 40,382 |  |  | $ | 22,800 |
Realized losses (gains) from settlement of forward contracts | $ | 1,420 |  |  | $ | (725) |
Unrealized losses on forward contracts | $ | 759 |  |  | $ | 1,820 |
The following table presents the Company's outstanding forward contracts:
(in thousands) | March 31, 2022 |  | December 31, 2021
Total notional amount of outstanding forward contracts | $ | 152,980 |  |  | $ | 127,200 |
Summary of Fair Value of Assets Measured on a Recurring Basis | The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value:
| Fair value measurements using
(in thousands) | March 31, 2022 |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Forward contracts payable | $ | 3,552 |  |  | $ | — |  |  | $ | 3,552 |  |  | $ | — |
| Fair value measurements using
(in thousands) | December 31, 2021 |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs
Forward contracts payable | $ | 2,793 |  |  | $ | — |  |  | $ | 2,793 |  |  | $ | — |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 + Details
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