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Forward Contract (Tables)

3 Months Ended

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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- References

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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

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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

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