v3.25.1
Other Income (Expense), Net
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
Other Income (Expense), Net Other Income (Expense), Net
The Central Bank of Argentina maintains certain currency controls that limit the amount of U.S. dollars that may be remitted from Argentine entities, including certain of our customers. As a result of these controls, an indirect foreign exchange mechanism known as a Blue Chip Swap ("BCS") emerged in Argentina, which allows entities to remit U.S. dollars from Argentina through the purchase and sale of BCS securities. During the three months ended March 31, 2025, in order to collect an open accounts receivable balance with an Argentine customer, we purchased and sold BCS securities of $1.3 million and $1.1 million, respectively, and incurred a loss on the transaction of $0.2 million, which is recorded in other income (expense) on our consolidated statements of operations.

Other income (expense), net consisted of the following: 
Three Months Ended March 31,
(In thousands)20252024
Net gain (loss) on foreign currency exchange contracts (1)
$(221)$(20)
Net gain (loss) on foreign currency exchange transactions418 (84)
Other income (expense) (2)
(145)24 
Other income (expense), net$52 $(80)
(1)This represents the gains (losses) incurred on foreign currency hedging derivatives (see Note 17 for further details).
(2)Included in this amount is $0.2 million of loss related to BCS security transactions.