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FINANCIAL DERIVATIVES AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Derivatives Used to Hedge Foreign Exchange Risks

We had the following outstanding derivatives that were used to hedge foreign exchange risks associated with forecasted transactions and designated as hedging instruments:

In thousands			September 30, 2024						December 31, 2023
Derivative
Sell/Buy - sell notional
Euro / British Pound			15,338						15,210
Philippine Peso / Euro			—						137,449
U.S. Dollar / British Pound			10,335						18,470
U.S. Dollar / Euro			67						277
Sell/Buy - buy notional
Euro / Philippine Peso			670,767						788,342
British Pound / Philippine Peso			951,019						923,653
Euro / U.S. Dollar			76,139						93,397
U.S. Dollar / Canadian Dollar			32,211						30,914
British Pound / U.S. Dollar			—						2,211

The following sets forth derivatives used to mitigate the impact changes in currency exchange rates have on balance sheet monetary assets and liabilities:

In thousands			September 30, 2024						December 31, 2023
Derivative
Sell/Buy - sell notional
U.S. Dollar / British Pound			13,500						22,800
British Pound / Euro			2,600						3,500
Japanese Yen / Euro			53,000						—
U.S. Dollar / Swiss Franc			—						13,620
British Pound / Swiss Franc			930						2,240
Euro / Swiss Franc			8,200						4,940
Euro / U.S. Dollar			10,300						11,000
U.S Dollar / Philippine Peso			9,100						6,700
Sell/Buy - buy notional
Euro / U.S. Dollar			—						10,200
British Pound / Euro			3,600						6,470
Swiss Franc / Danish Krone			—						—
U.S. Dollar / Canadian Dollar			2,400						1,120

Schedule of Fair Values of Derivative Instruments

The following table summarizes the fair values of derivative instruments for the period indicated and the line items in the accompanying condensed consolidated balance sheets where the instruments are recorded:

In thousands			September 30, 2024						December 31, 2023						September 30, 2024						December 31, 2023
Balance sheet caption			Prepaid Expenses and Other Current Assets												Other Current Liabilities
Designated as hedging:
Forward foreign currency exchange contracts			$	433					$	851					$	1,278					$	1,653
Not designated as hedging:
Forward foreign currency exchange contracts			$	184					937						$	226					$	155

Schedule of Income or (Loss) from Derivative Instruments

The following table summarizes the amount of income or (loss) from derivative instruments recognized in our results of operations for the periods indicated and the line items in the accompanying condensed consolidated statements of operations where the results are recorded:

			Three months ended  September 30,												Nine months ended  September 30,
In thousands			2024						2023						2024						2023
Designated as hedging:
Forward foreign currency exchange contracts:
Cost of products sold			$	(331)					$	(261)					$	(457)					$	(1,579)
Not designated as hedging:
Forward foreign currency exchange contracts:
Other – net			$	(553)					$	250					$	2,003					$	32

Schedule of Fair Value Amounts Recorded as Component of Accumulated Other Comprehensive Income (Loss) Before Taxes

A rollforward of fair value amounts recorded as a component of accumulated other comprehensive loss, before taxes, is as follows:

In thousands			2024						2023
Balance at January 1,			$	(808)					$	242
Deferred gains on cash flow hedges			(769)						3,128
Reclassified to earnings			(457)						(1,579)
Balance at September 30,			$	(2,034)					$	1,791

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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