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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The following table represents the Company's outstanding debt:
| (in thousands, except interest rates) | June 30, 2025 | December 31, 2024
| Borrowings under the Amended Credit Agreement (1) |  |
| USD borrowings | $ | 339,000 |  | $ | 225,000 |
| EUR borrowings | 105,686 |  | 93,485 |
| Foreign bank debt | — |  | 46 |
| Total bank debt | 444,686 |  | 318,531 |
| Less: Current maturities of long-term debt | — |  | — |
| Long-term debt | $ | 444,686 |  | $ | 318,531 |
| (1) The credit facility matures in August 2028. At the end of June 30, 2025 and December 31, 2024, the USD interest rate in effect was 5.92% and 5.77%, respectively, including the effect of interest rate swaps; at the end of June 30, 2025 and December 31, 2024, the EUR interest rate in effect was 3.72% and 4.09%, respectively, including the effect of interest rate swaps.
Schedule Interest Rate for Borrowings | The applicable interest rate for borrowings under the Amended Credit Agreement is based on both Term SOFR and EURIBOR plus a spread, which is based on our leverage ratio (as defined in the Amended Credit Agreement) at the time of a borrowing as follows:
Leverage Ratio | Commitment Fee | ABR Spread | Term Benchmark/ Daily Simple SOFR Spread
<1.00:1.00 | 0.275% | 0.500% | 1.500%
≥ 1.00:1.00 and < 2.00:1.00 | 0.300% | 0.625% | 1.625%
≥ 2.00:1.00 and < 3.00:1.00 | 0.325% | 0.750% | 1.750%
≥ 3.00:1.00 | 0.350% | 1.000% | 2.000%

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