v3.23.3

Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Interest Rate and Foreign Currency Instruments | A summary of the fair value of interest rate and foreign currency instruments is as follows:
(In thousands) |  |  |  | September 30, 2023 |  | December 31, 2022
Asset derivatives |  | Location |  |  |  |
Interest rate swap contracts (1) |  | Other assets, net |  | $ | 44,126 |  |  | $ | 48,539 |
Liability derivatives |  | Location |  |  |  |
Foreign currency contracts (2) |  | Accrued expenses |  | $ | — |  |  | $ | 423 |
(1) The fair values of interest rate swap contracts are measured on a recurring basis by netting the discounted future fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on the expectation of future interest rates (forward curves) derived from observed market interest rate curves (Level 2). (2) The fair values of foreign currency contracts are measured at each reporting period by comparison to available market information on similar contracts (Level 2).
Schedule of Gains and Losses Related to Interest Rate and Foreign Currency Instruments in the Consolidated Statement of Operations | A summary of the gains and losses related to interest rate and foreign currency instruments on the condensed consolidated statements of operations is as follows:
|  |  |  | Three Months Ended |  | Nine Months Ended
(In thousands) |  |  |  | September 30, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022
(Gain) Loss on derivative contracts designated as cash flow hedges |  | Location |  |  |  |  |  |  |  |
Interest rate swap contracts |  | Interest expense, net |  | $ | (6,098) |  |  | $ | (1,325) |  |  | $ | (16,399) |  |  | $ | 560 |
Foreign currency contracts |  | Cost of goods sold |  | 132 |  |  | 137 |  |  | 494 |  |  | 137 |
|  |  |  | $ | (5,966) |  |  | $ | (1,188) |  |  | $ | (15,905) |  |  | $ | 697 |

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- Definition 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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- Definition 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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