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DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023						December 31, 2022
Interest rate swaps			Prepaid expenses and other current assets						$	—					$	122
Foreign exchange contracts			Prepaid expenses and other current assets						152						—
			Other Assets						33						—
			Accrued expenses						39						260

Derivatives not designated as hedging instruments			Balance Sheet Location						September 30, 2023						December 31, 2022
Interest rate swaps			Other assets						$	1,156					$	1,292

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			2023						2022						2023						2022
Interest rate swaps			$	—					$	87					$	(120)					$	570
Foreign exchange contracts			435						267						(898)						1,342
			$	435					$	354					$	(1,018)					$	1,912

Derivatives Not Designated as Hedging Instruments

Interest and mark to market (losses) gains 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)						2023						2022						2023						2022
Interest rate swaps			Mark to market (loss) gain on interest rate derivatives						$	(98)					$	637					$	(135)					$	1,990
			Interest expense						218						18						579						(165)
									$	120					$	655					$	444					$	1,825

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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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

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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 derivative instrument not designated or qualifying as hedging instrument.

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-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
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