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Derivatives | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives The following table sets forth the total net fair value of derivatives:
|  | March 31, 2022 |  | December 31, 2021
|  | Fair Value Measurement Using |  | Total Balance |  | Fair Value Measurement Using |  | Total Balance
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  |  | Level 1 |  | Level 2 |  | Level 3 |
Foreign currency exchange contracts |  | $ | — |  |  | $ | (142) |  |  | $ | — |  |  | $ | (142) |  |  | $ | — |  |  | $ | (92) |  |  | $ | — |  |  | $ | (92) |
We held foreign currency exchange contracts, which resulted in a net pre-tax gain of $0.9 million and a net pre-tax gain of $1.2 million for the three months ended March 31, 2022 and 2021, respectively. Details of foreign currency exchange contracts held were as follows:
Date Held |  | Currency |  | Position Held |  | Notional Value (in millions) |  | Forward Rate |  | Unrealized Gain/(Loss) Recorded at Balance Sheet Date (in thousands)(1) |  | Settlement Date
March 31, 2022 |  | USD/Chinese Yuan Renminbi |  | CNY |  | $ | 28.0 |  |  | 6.3774 |  |  | $ | 62 |  |  | April 29, 2022
March 31, 2022 |  | USD/Euro |  | USD |  | $ | 28.0 |  |  | 1.0998 |  |  | $ | (204) |  |  | April 29, 2022
December 31, 2021 |  | USD/Chinese Yuan Renminbi |  | CNY |  | $ | 19.0 |  |  | 6.3777 |  | $ | 38 |  |  | January 7, 2022
December 31, 2021 |  | USD/Euro |  | USD |  | $ | 31.0 |  |  | 1.1336 |  | $ | (130) |  |  | January 7, 2022
(1)Unrealized gains on foreign currency exchange contracts are recorded in prepaid expenses and other current assets. Unrealized losses on foreign currency exchange contracts are recorded in other accrued liabilities.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
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