Derivative Instruments and Hedging Activities (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Foreign Exchange Gain (Loss) Associated with Foreign Exchange Contracts Not Designated as Hedging Instruments |
The foreign exchange loss in our condensed consolidated statements of loss included the following gains (losses) associated with foreign exchange contracts not designated as hedging instruments (in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | Foreign Exchange Forward Contracts: | | | | | 2025 | | 2024 | | Gain (loss) recognized in foreign exchange loss | | | | | $ | 8,607 | | | $ | (4,086) | |
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| Schedule of Impact on Accumulated Other Comprehensive Loss and Earnings (Loss) from Derivative Instruments that Qualified as Cash Flow Hedges |
The impact on accumulated other comprehensive loss and earnings (loss) from derivative instruments that qualified as cash flow hedges was as follows (in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | Interest Rate Contracts: | | | | | 2025 | | 2024 | | | | | | | | | | Gain (loss) recognized in accumulated other comprehensive loss, net of tax | | | | | $ | (443) | | | $ | 5,177 | | | Gain reclassified from accumulated other comprehensive loss to interest expense, net of tax | | | | | (396) | | | (1,356) | |
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| Schedule of Fair Value of Outstanding Derivatives |
The following tables summarize the fair value of outstanding derivatives (in thousands): | | | | | | | | | | | | | | | | Classification | March 31,
2025 | | December 31,
2024 | | Assets | | | | | | Derivatives designated as hedging instruments: | | | | | | Interest rate contracts | Other current assets | $ | 36 | | | $ | 959 | | | Other non-current assets | — | | | 32 | | | Derivatives not designated as hedging instruments: | | | | | | Foreign exchange forward contracts | Other current assets | 6,817 | | | 2,250 | | | Total fair value of derivative asset instruments | | $ | 6,853 | | | $ | 3,241 | | | | | | | | Liabilities | | | | | | Derivatives designated as hedging instruments: | | | | | | | | | | | Interest rate contracts | Other non-current liabilities | $ | 163 | | | $ | — | | | Derivatives not designated as hedging instruments: | | | | | | Foreign exchange forward contracts | Accrued liabilities | — | | | 10,198 | | | Total fair value of derivative liability instruments | | $ | 163 | | | $ | 10,198 | | | | | | | | | | | | | | | | |
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| Schedule of Offsetting Assets |
The following table summarizes the potential effect on our condensed consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | | Derivative assets | $ | 6,853 | | | $ | — | | | $ | 6,853 | | | $ | (121) | | | $ | — | | | $ | 6,732 | | | Derivative liabilities | (163) | | | — | | | (163) | | | 121 | | | — | | | (42) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | | Derivative assets | $ | 3,241 | | | $ | — | | | $ | 3,241 | | | $ | (2,910) | | | $ | — | | | $ | 331 | | | Derivative liabilities | (10,198) | | | — | | | (10,198) | | | 2,910 | | | — | | | (7,288) | |
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| Schedule of Offsetting Liabilities |
The following table summarizes the potential effect on our condensed consolidated balance sheets of offsetting our interest rate and foreign exchange forward contracts subject to such provisions (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2025 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | | Derivative assets | $ | 6,853 | | | $ | — | | | $ | 6,853 | | | $ | (121) | | | $ | — | | | $ | 6,732 | | | Derivative liabilities | (163) | | | — | | | (163) | | | 121 | | | — | | | (42) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | Gross Amounts of Recognized Assets/ Liabilities | | Gross Amounts Offset in the Consolidated Balance Sheet | | Net Amounts of Assets/ Liabilities Presented in the Consolidated Balance Sheet | | Gross Amounts Not Offset in the Consolidated Balance Sheet | | Description | | | | Derivative Financial Instruments | | Cash Collateral Received (Pledged) | | Net Amount | | Derivative assets | $ | 3,241 | | | $ | — | | | $ | 3,241 | | | $ | (2,910) | | | $ | — | | | $ | 331 | | | Derivative liabilities | (10,198) | | | — | | | (10,198) | | | 2,910 | | | — | | | (7,288) | |
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