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Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Notional Amounts and Fair Values of Derivative Instruments in the Consolidated Balance | The notional amounts and fair values of derivative instruments in the consolidated balance sheets were as follows:
|  | Notional amounts (A) |  | Prepaid expenses and other current assets |  |
As of December 31, |  | 2023 |  | 2022 |  | 2023 |  | 2022 |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward currency contracts |  | $ | 26,613 |  |  | $ | — |  |  | $ | 1,858 |  |  | $ | — |  |  |  |  |
Interest rate swap |  | $ | — |  |  | $ | 50,000 |  |  | $ | — |  |  | $ | 294 |  |  |  |  |
_____________________________ (A)Notional amounts represent the gross contract of the derivatives outstanding in U.S. dollars.
Amounts Recorded for the Cash Flow Hedges in Other Comprehensive Income (Loss) in Shareholders' Equity and in Net Income | Gross amounts recorded for the cash flow hedges in other comprehensive income (loss) and in net (loss) income for the years ended December 31 were as follows:
|  | Gain (loss) recorded in other comprehensive income (loss) |  | Gain (loss) reclassified from other comprehensive income (loss) income into net (loss) income (A)
|  | 2023 |  | 2022 |  | 2021 |  | 2023 |  | 2022 |  | 2021
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward currency contracts |  | $ | 2,304 |  |  | $ | 1,346 |  |  | $ | 923 |  |  | $ | 446 |  |  | $ | 2,076 |  |  | $ | 448 |
Interest rate swap |  | $ | (4) |  |  | $ | 953 |  |  | $ | 164 |  |  | $ | 290 |  |  | $ | 156 |  |  | $ | (651) |
Derivatives designated as net investment hedges: |  |  |  |  |  |  |  |  |  |  |  |
Cross-currency swaps |  | $ | — |  |  | $ | 2,446 |  |  | $ | 1,270 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
_____________________________ (A)Gains reclassified from comprehensive income (loss) into net (loss) income recognized in COGS in the Company’s consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021 were $337, $1,572 and $341, respectively. Gains reclassified from other comprehensive income (loss) into net (loss) income recognized in SG&A in the Company’s consolidated statements of operations were $109, $504 and $107 for the years ended December 31, 2023, 2022 and 2021, respectively. Gains (losses) reclassified from other comprehensive income (loss) into net (loss) income recognized in interest expense, net in the Company’s consolidated statements of operations were $290, $156 and $(651) for the years ended December 31, 2023, 2022 and 2021, respectively.
Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis | The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the three levels of the fair value hierarchy based on the reliability of inputs used.
December 31, |  |  | 2023 |  | 2022
|  |  | Fair values estimated using |  |
| Fair value |  | Level 1 inputs |  | Level 2 inputs |  | Level 3 inputs |  | Fair value
Financial assets carried at fair value: |  |  |  |  |  |  |  |  |
Forward currency contracts | $ | 1,858 |  |  | $ | — |  |  | $ | 1,858 |  |  | $ | — |  |  | $ | — |
Interest rate swap | — |  |  | — |  |  | — |  |  | — |  |  | 294 |
Total financial assets carried at fair value | $ | 1,858 |  |  | $ | — |  |  | $ | 1,858 |  |  | $ | — |  |  | $ | 294 |
Summary of the Change in Fair Value of the Level 3 Financial Liabilities Related to Contingent Consideration | The following table sets forth a summary of the change in fair value of the Company’s Level 3 financial liabilities related to earn-out consideration that are measured at fair value on a recurring basis.
| 2022
Balance at January 1 | $ | 7,351 |
Change in fair value | — |
Foreign currency adjustments | 921 |
Earn-out consideration cash payment | $ | (8,272) |
Balance at December 31 | $ | — |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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