| | | | | | | | | | | | | June 30, 2025 | | Balance Sheet Location | | Notional Amount | | Fair Value | Derivative assets designated as hedge accounting instruments: | | | | | | | | | Interest rate floors | | Other Current Assets | | | Note 1 | | $ | 1,564 | Foreign currency forwards | | Other Current Assets | | $ | 44,962 | | | 4,036 | Foreign currency net purchased options | | Other Current Assets | | | 16,013 | | | 1,404 | Total current derivative assets | | | | $ | 60,975 | | $ | 7,004 | Interest rate floors | | Other Non-Current Assets | | | Note 1 | | | 24,343 | Total derivative assets | | | | $ | 60,975 | | $ | 31,347 |
| | | | | | | | | | | | | December 31, 2024 | | Balance Sheet Location | | Notional Amount | | Fair Value | Derivative assets designated as hedge accounting instruments: | | | | | | | | | Interest rate floors | | Other Current Assets | | | Note 1 | | $ | 739 | Foreign currency forwards | | Other Current Assets | | $ | 40,330 | | | 910 | Foreign currency net purchased options | | Other Current Assets | | | 15,966 | | | 385 | Total current derivative assets | | | | $ | 56,296 | | $ | 2,034 | Interest rate floors | | Other Non-Current Assets | | | Note 1 | | $ | 17,692 | Total derivative assets | | | | $ | 56,296 | | $ | 19,726 |
Note 1: The Company’s investment in interest rate derivative instruments consists of three and five year investments in 3% interest rate floors to hedge interest income on a $1,900,000 notional investment of customer funds in floating rate cash equivalent instruments. The short-term portion of the investments’ fair value shown in the tables above relates to the portion of the hedge expiring within one year of the balance sheet date.
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