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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet

Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of June 30, 2023 is as follows:


								Asset Derivatives						Liability Derivatives
		Fair Value Hierarchy		Notional Amount				Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value				Net Asset/ (Liabilities)
Derivatives Designated as Cash Flow Hedges
Foreign currency derivatives		Level 2		$	54,861			Other current assets		$	9,380			Other current liabilities		$	—			$	9,380
Derivatives Not Designated as Hedging Instruments
Interest rate contracts		Level 2		$	100,000			Other current assets		$	3,445			Other current liabilities		$	—			$	3,445

Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of December 31, 2022 is as follows:


								Asset Derivatives						Liability Derivatives
		Fair Value Hierarchy		Notional Amount				Balance Sheet Location		Fair Value				Balance Sheet Location		Fair Value				Net Asset/ (Liabilities)
Derivatives Designated as Cash Flow Hedges
Foreign currency derivatives		Level 2		$	40,063			Other current assets		$	3,791			Other current liabilities		$	—			$	3,791
Derivatives Not Designated as Hedging Instruments
Interest rate contracts		Level 2		$	100,000			Other current assets		$	2,772			Other current liabilities		$	—			$	2,772

Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Statements of Income and Consolidated Condensed Statements of Comprehensive Income (Loss)

Information relating to the effect of derivative instruments on our consolidated condensed statements of (loss) income and the consolidated condensed statements of comprehensive (loss) income is as follows:


				Three Months Ended June 30,								Six Months Ended June 30,
		Location (Income/(Loss))		2023				2022				2023				2022
Derivatives Designated as Cash Flow Hedges
Foreign currency derivatives		Cost of sales – income		$	1,984			$	333			$	3,043			$	486
		Other comprehensive income (loss)			2,905				(316	)			5,588				294
Total foreign currency derivatives				$	4,889			$	17			$	8,631			$	780

Commodity derivatives		Cost of sales – income		$	—			$	—			$	—			$	19
		Other comprehensive loss			—				—				—				(6	)
Total commodity derivatives				$	—			$	—			$	—			$	13

Derivatives Not Designated as Hedging Instruments
Foreign currency derivatives		Foreign currency gain		$	—			$	482			$	—			$	482
Total foreign currency derivatives				$	—			$	482			$	—			$	482

Interest rate contracts		Interest expense, net		$	1,371			$	(693	)		$	672			$	(693	)
Total interest rate derivatives				$	1,371			$	(693	)		$	672			$	(693	)

Summary of Receivables Factored and Availability Under Receivables Factoring Agreements

Receivables factored and availability under receivables factoring agreements balances as of June 30, 2023 and December 31, 2022 were as follows:


		June 30, 2023				December 31, 2022
Receivables factored and outstanding		$	21,623			$	19,108
Amount available under the credit limit			2,471				5,034
Collective factoring limit		$	24,094			$	24,142

Summary of Trade Receivables Sold and Factoring Fees Incurred

Trade receivables sold and factoring fees incurred during the three and six months ended June 30, 2023 and 2022 were as follows:


		Three Months Ended June 30,								Six Months Ended June 30,
		2023				2022				2023				2022
Trade receivables sold		$	38,261			$	—			$	76,801			$	—
Factoring fees incurred			207				—				368				—