v3.26.1
Fair Value Measurement (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the notional contract amounts for forward contracts outstanding:

As of
FASB ASC Topic 815 DesignationMarch 31, 2026December 31, 2025
Forward exchange contractsCash flow hedge$246,984 $239,588 
Forward exchange contractsNon-designated56,877 49,459 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
Foreign exchange contracts designated as cash flow hedges had the following effects on accumulated other comprehensive income (loss) ("AOCI") and net earnings on our consolidated condensed statements of comprehensive income and our consolidated condensed balance sheets:

Amount of Gain (Loss) Recognized in AOCI
Consolidated Condensed Statements of Comprehensive Income
Amount of Gain (Loss) Reclassified from AOCI
Three Months Ended March 31,
Total Amount of Line Item Presented
Derivative Instrument20262025Location of amount reclassified2026202520262025
Foreign exchange contracts$3,961 $(3,677)Net Sales$317,046 $321,256 $(1,000)$1,851 
 Cost of Sales133,599 143,504 920 (686)
Pre-tax gain (loss)
$3,961 $(3,677)$(80)$1,165 
Tax expense (benefit)
960 (891)(20)282 
Net gain (loss)
$3,001 $(2,786)$(60)$883 
Derivatives Not Designated as Hedging Instruments
Net losses from derivative instruments not accounted for as hedges and gains (losses) on our intercompany receivables on our consolidated condensed statements of comprehensive income were:

Three Months Ended March 31,
Derivative Instrument
Location on Consolidated Condensed Statements of Comprehensive Income
20262025
 
Net loss on currency forward contracts
Selling and administrative expense$(714)$(789)
Net gain (loss) on currency transaction exposures
Selling and administrative expense$(329)$141 
Schedule of Fair Value for Forward Foreign Exchange Contracts The following tables summarize the fair value for forward foreign exchange contracts outstanding at March 31, 2026 and December 31, 2025:
March 31, 2026Location on Consolidated Condensed Balance SheetAsset Fair ValueLiabilities Fair ValueNet
Fair
Value
Derivatives designated as hedged instruments:   
Foreign exchange contracts
Prepaid expenses and other current assets
$5,276 $(3,086)$2,190 
Foreign exchange contracts
Other assets
972 (316)656 
$6,248 $(3,402)$2,846 
Derivatives not designated as hedging instruments:   
Foreign exchange contractsOther current liabilities7 (424)(417)
Total derivatives$6,255 $(3,826)$2,429 

December 31, 2025Location on Consolidated Condensed Balance SheetAsset Fair ValueLiabilities Fair ValueNet
Fair
Value
Derivatives designated as hedged instruments:  
Foreign exchange contracts
Other current liabilities
$4,389 $(5,223)$(834)
Foreign exchange contracts
Other long-term liabilities
46 (407)(361)
$4,435 $(5,630)$(1,195)
Derivatives not designated as hedging instruments:  
Foreign exchange contracts
Other current liabilities
— (307)(307)
Total derivatives$4,435 $(5,937)$(1,502)
Fair Value Measurement Inputs and Valuation Techniques The recurring Level 3 fair value measurements of contingent consideration for which the liabilities are recorded include the following significant unobservable inputs as of March 31, 2026:
Assumptions
Unobservable InputIn2BonesBiorez
Discount rate6.91%12.27%
Revenue volatility17.35%20.24%
Projected year of payment
2026
2026
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation Changes in the fair value of contingent consideration liabilities for the three months ended March 31, 2026 and 2025 are as follows:
In2BonesBiorez
2026202520262025
Balance as of January 1,$2,160 $11,196 $59,248 $61,021 
Payments
— — (11,364)(7,166)
Changes in fair value of contingent consideration(1,987)(987)2,709 4,949 
Balance as of March 31,$173 $10,209 $50,593 $58,804