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Derivatives | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives | Derivatives The following table sets forth the total net fair value of derivatives:
|  | September 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 |  | $ | — |  |  | $ | 257 |  |  | $ | — |  |  | $ | 257 |  |  | $ | — |  |  | $ | 100 |  |  | $ | — |  |  | $ | 100 |
We held foreign currency exchange contracts, which resulted in a net pre-tax gain of $19 thousand and pre-tax loss of $0.6 million for the three months ended September 30, 2023 and 2022, respectively. For the nine months ended September 30, 2023 and 2022, we had a net pre-tax loss of $2.8 million and pre-tax gain of $0.5 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
September 30, 2023 |  | USD/Chinese Yuan Renminbi |  | CNY |  | $ | 33.0 |  |  | 7.2593 |  |  | $ | (162) |  |  | October 20, 2023
September 30, 2023 |  | USD/Euro |  | USD |  | $ | 18.0 |  |  | 1.0826 |  |  | $ | 419 |  |  | October 6, 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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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//815/tableOfContent + Details
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