The Company’s assets and liabilities related to unrealized gains or losses on fair value hedges measured at fair value on June 30, 2025 and December 31, 2024 are as follows: | | | | | | | | | | | | | | | | | | | Derivatives designated as fair value hedges | Balance Sheet Location | | June 30, 2025 | | December 31, 2024 | | Asset (liability) derivatives: | | | $’000 | | $’000 | | Derivative contracts | Other current liabilities | | — | | | (60) | | | Total | | | — | | | (60) | |
The table below summarizes the realized gain or (loss) on the Company’s derivative instruments that are designated as fair value hedges and their location in the Unaudited Condensed Consolidated Statement of Operations and Other Comprehensive Income / (Loss): | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Derivatives in hedging relationships | Location of Gain / (Loss) Recognized | | 2025 | | 2024 | | | | $’000 | | $’000 | | Derivative contracts | Cost of goods sold | | (167) | | | 529 | | | | | | | | | Total | | | (167) | | | 529 | |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | Derivatives in hedging relationships | Location of Gain / (Loss) Recognized | | 2025 | | 2024 | | | | $’000 | | $’000 | | Derivative contracts | Cost of goods sold | | (31) | | | 518 | | | | | | | | | Total | | | (31) | | | 518 | |
The follow table sets forth the fair value of derivatives not designated as hedging instruments as of June 30, 2025 and December 31, 2024: | | | | | | | | | | | | | | | | | | | Derivatives | Balance Sheet Location | | June 30, 2025 | | December 31, 2024 | | Asset (liability) derivatives: | | | $’000 | | $’000 | | Derivative contracts | Other current assets | | 5,784 | | | 18,602 | | | Derivative asset | Other current assets | | 46,697 | | | 93,520 | | | | | | | | | Derivative liability | Other current liabilities | | (46,697) | | | (92,094) | | | | | | | | | Total | | | 5,784 | | | 20,028 | |
The table below summarizes the realized gain or (loss) on the Company’s derivative instruments that are not designated as hedges and their location in the Unaudited Condensed Consolidated Statement of Operations and Other Comprehensive Income / (Loss): | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Derivatives | Location of Gain / (Loss) Recognized | | 2025 | | 2024 | | | | $’000 | | $’000 | | Derivative contracts | Cost of goods sold | | 5,784 | | | 3,275 | | | Total | | | 5,784 | | | 3,275 | |
| | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | Derivatives | Location of Gain / (Loss) Recognized | | 2025 | | 2024 | | | | $’000 | | $’000 | | Derivative contracts | Cost of goods sold | | 8,812 | | | 6,534 | | | Total | | | 8,812 | | | 6,534 | |
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