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Fair Value of Financial Assets and Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Recorded and Measured at Fair Value | The following table summarizes the Company’s assets and liabilities, recorded and measured at fair value, on the Company’s Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021:
Description |  | Balance as of June 30, 2022 |  |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 1,612 |  |  | $ | 0 |  |  | $ | 1,612 |  |  | $ | 0 |
Total Assets |  | $ | 1,612 |  |  | $ | 0 |  |  | $ | 1,612 |  |  | $ | 0 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Supplemental profit sharing plan |  | $ | 6,215 |  |  | $ | 0 |  |  | $ | 6,215 |  |  | $ | 0 |
Total Liabilities |  | $ | 6,215 |  |  | $ | 0 |  |  | $ | 6,215 |  |  | $ | 0 |
Description |  | Balance as of December 31, 2021 |  |  | Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts |  | $ | 534 |  |  | $ | 0 |  |  | $ | 534 |  |  | $ | 0 |
Total Assets |  | $ | 534 |  |  | $ | 0 |  |  | $ | 534 |  |  | $ | 0 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Supplemental profit sharing plan |  | $ | 8,633 |  |  | $ | 0 |  |  | $ | 8,633 |  |  | $ | 0 |
Total Liabilities |  | $ | 8,633 |  |  | $ | 0 |  |  | $ | 8,633 |  |  | $ | 0 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 https://asc.fasb.org/extlink&oid=126976982&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 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258 Reference 4: 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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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