v3.25.1
Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Long-Term Debt The carrying value of our remaining long-term debt reported in the accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings.
March 31, 2025December 31, 2024
Recorded
Amount		Fair ValueRecorded
Amount		Fair Value
(In thousands)
Long-term debt$3,554,963 $3,358,246 $3,532,713 $3,332,064 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table summarizes the fair value of our derivative financial instruments included in the consolidated balance sheets as of March 31, 2025 and December 31, 2024 (in thousands):
March 31, 2025December 31, 2024
AssetsLiabilitiesAssetsLiabilities
Not designated as hedging instruments
Other current assets$5,557 $— $4,347 $— 
Accrued expenses— 5,919 — 6,586 
Other noncurrent liabilities— 4,819 — 4,766 
Total not designated as hedging instruments$5,557 $10,738 $4,347 $11,352 
Derivative Instruments, Losses
The following table summarizes the net (losses) gains recognized for our derivative financial instruments during the three-month periods ended March 31, 2025 and 2024 (in thousands):
Three Months Ended
March 31,
20252024
Designated as hedging instruments
Loss recognized in Other comprehensive income (loss)
$(231)$(21,342)
Loss recognized in Other income, net
$(124)$(2,682)
Not designated as hedging instruments
Gain recognized in Other income, net(a)
$52,078 $14,822 
(a)    Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.