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Derivatives | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives The following table sets forth the total net fair value of derivatives:
|  | June 30, 2023 |  | December 31, 2022
|  | 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 |  | $ | — |  |  | $ | (1,465) |  |  | $ | — |  |  | $ | (1,465) |  |  | $ | — |  |  | $ | 100 |  |  | $ | — |  |  | $ | 100 |
We held foreign currency exchange contracts, which resulted in a net pre-tax loss of $2.6 million and pre-tax gain of $0.2 million for the three months ended June 30, 2023 and 2022, respectively. For the six months ended June 30, 2023 and 2022, we had a net pre-tax loss of $2.8 million and pre-tax gain of $1.1 million, 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
June 30, 2023 |  | USD/Chinese Yuan Renminbi |  | CNY |  | $ | 36.0 |  |  | 7.0332 |  |  | $ | (1,167) |  |  | July 7, 2023
June 30, 2023 |  | USD/Euro |  | USD |  | $ | 22.0 |  |  | 1.0768 |  |  | $ | (298) |  |  | July 7, 2023
December 31, 2022 |  | USD/Euro |  | USD |  | $ | 26.0 |  |  | 1.0529 |  |  | $ | (428) |  |  | January 6, 2023
December 31, 2022 |  | USD/Chinese Yuan Renminbi |  | CNY |  | $ | 31.0 |  |  | 7.0358 |  |  | $ | 528 |  |  | January 6, 2023
(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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