v3.25.1
6. Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The following tables present the fair values of derivative instruments included in our condensed consolidated balance sheets as of March 31, 2025 and December 31, 2024 (in thousands):
 March 31, 2025
Other Current AssetsOther Current Liabilities
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts$1,195 $16,585 
Total derivative instruments$1,195 $16,585 
 December 31, 2024
Other Current AssetsOther Current Liabilities
Derivatives designated as hedging instruments:
Commodity swap contracts$— $35 
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts13,452 18,584 
Total derivative instruments$13,452 $18,619 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the pretax amounts related to derivative instruments designated as cash flow hedges affecting accumulated other comprehensive income (loss) and our condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 (in thousands):
Commodity Swap Contracts
Balance as of December 31, 2024$(366)
Amount reclassified to cost of sales366 
Balance as of March 31, 2025$— 
Balance as of December 31, 2023$(1,493)
Amounts recognized in other comprehensive income (loss)221 
Amount reclassified to cost of sales1,149 
Balance as of March 31, 2024$(123)
Derivative Instruments, Gain (Loss) [Table Text Block]
The following table presents the effect of derivative instruments not designated as hedges on our condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024 (in thousands):
Amount of Loss Recognized in Income Statement
Three Months Ended
March 31,
Income Statement Line Item20252024
Foreign exchange forward contractsForeign currency loss, net$(3,483)$(8,949)
Schedule of Notional Value of Foreign Exchange Forward Derivatives [Table Text Block]
As of March 31, 2025 and December 31, 2024, the notional values of our foreign exchange forward contracts that do not qualify for hedge accounting were as follows (notional amounts and U.S. dollar equivalents in millions):
March 31, 2025
TransactionCurrencyNotional AmountUSD Equivalent
PurchaseEuro€165.4$179.1
SellEuro€9.5$10.3
PurchaseIndian rupeeINR 3,364.3$39.3
SellIndian rupeeINR 76,143.8$890.1
PurchaseJapanese yen¥1,336.2$8.9
SellJapanese yen¥949.1$6.3
PurchaseMalaysian ringgitMYR 227.4$51.3
SellMalaysian ringgitMYR 40.8$9.2
SellMexican pesoMXN 34.4$1.7
PurchaseSingapore dollarSGD 30.9$23.0
December 31, 2024
TransactionCurrencyNotional AmountUSD Equivalent
SellCanadian dollarCAD 4.2$2.9
PurchaseEuro€181.6$189.4
SellEuro€55.1$57.5
PurchaseIndian rupeeINR 1,485.0$17.4
SellIndian rupeeINR 66,934.0$783.9
PurchaseJapanese yen¥3,442.2$21.8
SellJapanese yen¥3,761.5$23.8
PurchaseMalaysian ringgitMYR 217.1$48.5
SellMalaysian ringgitMYR 29.5$6.6
SellMexican pesoMXN 34.6$1.7
PurchaseSingapore dollarSGD 14.1$10.4
SellSingapore dollarSGD 19.7$14.5