v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the fair values of our derivative instruments included within the Condensed Consolidated Balance Sheets (in thousands):
Derivatives Designated as Cash Flow Hedging Instruments
Condensed Consolidated Balance Sheet LocationForeign Exchange ContractsInterest Rate SwapsGross Derivatives
As of March 31, 2025
Prepaid expenses and other current assets$3,560 $8,403 $11,963 
Other assets— 512 512 
Total assets$3,560 $8,915 $12,475 
Accrued liabilities$4,335 $— $4,335 
Total liabilities$4,335 $— $4,335 
As of December 31, 2024
Prepaid expenses and other current assets$6,716 $11,038 $17,754 
Other assets— 5,724 5,724 
Total assets$6,716 $16,762 $23,478 
Accrued liabilities$7,391 $— $7,391 
Total liabilities$7,391 $— $7,391 


We recognized the following (losses) gains on our derivative instruments designated as cash flow hedges in other comprehensive income before reclassifications to net loss (in thousands):
(Losses) Gains Recognized in Other Comprehensive Income (Loss)
Three months ended
March 31,
20252024
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contracts$(174)$4,940 
Interest rate swaps(4,091)13,393 
Total derivatives designated as cash flow hedging instruments$(4,265)$18,333 

The following table presents the effects of our derivative instruments designated as cash flow hedges on the Condensed Consolidated Statements of Operations (in thousands):
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Gains (Losses) Reclassified From Accumulated Other Comprehensive Income (Loss) into Income
Three months ended
March 31,
Location of Gains (Losses) Recognized in Net Loss20252024
Derivatives designated as cash flow hedging instruments:
Foreign exchange forward contractsTotal revenues$709 $700 
Foreign exchange forward contractsCost of goods sold(1,014)1,280 
Interest rate swapsInterest expense3,756 7,964 
Total derivatives designated as cash flow hedging instruments$3,451 $9,944 
As of March 31, 2025, we expect an estimated $0.8 million in deferred losses on the outstanding foreign exchange contracts and an estimated $8.4 million in deferred gains on the interest rate swaps will be reclassified from accumulated other comprehensive loss to net income during the next 12 months concurrent with the underlying hedged transactions also being reported in net income.