v3.25.4
Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value of Long-Term Debt The carrying value of our remaining long-term debt reported in the
accompanying consolidated balance sheets approximates fair value as substantially all of such debt bears interest based on prevailing variable market rates currently available in the countries in which we have borrowings.
December 31,
20252024
Recorded AmountFair ValueRecorded AmountFair Value
(In thousands)
Long-term debt$3,207,210 $3,112,590 $3,532,713 $3,332,064 
Schedule of Derivative Instruments in Statement of Financial Position
The following table summarizes the fair value of our derivative financial instruments included in the consolidated balance sheets at December 31, 2025 and 2024 (in thousands):
December 31,
20252024
AssetsLiabilitiesAssetsLiabilities
Not designated as hedging instruments
Other current assets$2,163 $— $4,347 $— 
Accrued expenses— 4,781 — 6,586 
Other noncurrent liabilities— — — 4,766 
Total not designated as hedging instruments$2,163 $4,781 $4,347 $11,352 
Derivative Instruments, Gain (Loss)
The following table summarizes the net (losses) gains recognized for our derivative financial instruments during the years ended December 31, 2025, 2024 and 2023 (in thousands):
Year Ended December 31,
202520242023
Designated as hedging instruments:
(Loss) gain recognized in Other comprehensive income (loss)
$(194)$(28,701)$5,986 
Gain (loss) recognized in Other income, net
$234 $(25,766)$135 
Not designated as hedging instruments:
Gain (loss) recognized in Other income, net(a)
$118,802 $(14,728)$213,378 
(a)Fluctuations in the value of our foreign currency forward contracts not designated as hedging instruments are generally expected to be offset by changes in the value of the underlying exposures being hedged, which are also reported in Other income, net.