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DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Financial Instruments Included in Unaudited Condensed Consolidated Balance Sheets

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands):

Derivatives designated as hedging instruments			Balance Sheet Location						September 30, 2022						December 31, 2021
Interest rate swaps			Prepaid expenses and other current assets						$	179					$	—
			Accrued expenses						—						288
			Other long-term liabilities						—						292
Foreign exchange contracts			Prepaid expenses and other current assets						663						461

Derivatives not designated as hedging instruments			Balance Sheet Location						September 30, 2022						December 31, 2021
Interest rate swaps			Other assets						$	1,310					$	—
			Other long-term liabilities						—						680

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments

The amounts of gains and losses, realized and unrealized, related to the Company’s derivative financial instruments designated as hedging instruments are recognized in other comprehensive (loss) income, net of taxes, as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
Derivatives designated as hedging instruments			2022						2021						2022						2021
Interest rate swaps			$	87					$	147					$	570					$	540
Foreign exchange contracts			267						845						1,342						515
			$	354					$	992					$	1,912					$	1,055

Derivatives Not Designated as Hedging Instruments

Interest and mark to market gains (losses) related to the Company’s derivative financial instruments not designated as hedging instruments that were recognized in earnings are as follows (in thousands):

									Three Months Ended September 30,												Nine Months Ended September 30,
Derivatives not designated as hedging instruments			Location of gain (loss)						2022						2021						2022						2021
Interest rate swaps			Mark to market gain on interest rate derivatives						$	637					$	120					$	1,990					$	664
			Interest expense						18						(116)						(165)						(342)
									$	655					$	4					$	1,825					$	322

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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-Publisher FASB
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