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Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
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 condensed consolidated balance sheets were as follows:
|  | Notional amounts (A) |  | Prepaid expenses and other current assets |  |
|  | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023 |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Forward currency contracts |  | $ | 16,878 |  |  | $ | 26,613 |  |  | $ | 1,947 |  |  | $ | 1,858 |  |  |  |  |
_____________________________ (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 Loss in Shareholders' Equity and in Net Income | Gross amounts recorded for the cash flow hedges in other comprehensive loss and in net loss for the three months ended March 31 were as follows:
| Gain recorded in other comprehensive loss |  | Gain reclassified from other comprehensive loss into net loss (A)
| 2024 |  | 2023 |  | 2024 |  | 2023
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Forward currency contracts | $ | 654 |  |  | $ | — |  |  | $ | 743 |  |  | $ | — |
Interest rate swap | $ | — |  |  | $ | (4) |  |  | $ | — |  |  | $ | 290 |
_____________________________
(A) | Gains reclassified from other comprehensive loss into net loss recognized in selling, general and administrative expenses (“SG&A”) in the Company’s condensed consolidated statements of operations were $117 and $0 for the three months ended March 31, 2024 and 2023, respectively. Gains reclassified from other comprehensive loss into net loss recognized in cost of goods sold (“COGS”) in the Company’s condensed consolidated statements of operations were $537 and $0 for the three months ended March 31, 2024 and 2023, respectively. Gains reclassified from other comprehensive loss into net loss recognized in interest expense, net in the Company’s condensed consolidated statements of operations were $0 and $290 for the three months ended March 31, 2024 and 2023, 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.
|  |  | March 31, 2024 |  | December 31, 2023
|  |  | 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 | $ | 1,947 |  |  | $ | — |  |  | $ | 1,947 |  |  | $ | — |  |  | $ | 1,858 |
Total financial assets carried at fair value | $ | 1,947 |  |  | $ | — |  |  | $ | 1,947 |  |  | $ | — |  |  | $ | 1,858 |

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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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