v3.26.1
HEDGING INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Net Investment Hedges and Income Statement Impact of Hedging Instruments
The following table presents the effects of cash flow hedge accounting on our unaudited condensed consolidated statements of income and comprehensive income, and provides information regarding the location and amounts of pretax gains or losses of derivatives:
(in thousands)Financial statement line items in which effects of cash flow hedges are recordedThree Months Ended
March 31,
20262025
Foreign currency exchange contractsCost of revenue$418,081 $375,048 
Gain (loss) reclassified from accumulated other comprehensive income into net income$150 $3,745 
Interest rate swap contractInterest expense$(7,741)$(7,666)
Gain (loss) reclassified from accumulated other comprehensive income into net income$205 $324 
Schedule of Outstanding Cross Currency Swaps Notional Amounts
The following table presents the outstanding cross currency swaps notional amounts that will be delivered to and received from the counterparties at maturity:
(in thousands)
Maturity DateNotional Amount to be Delivered at MaturityNotional Amount to be Received at Maturity
3/31/2028€35,000 $37,755 
6/30/2028€90,000 $98,217 
6/29/2029€20,000 $21,268 
7/17/2028€76,000 $88,113 
7/31/2028€39,000 $45,735 
9/11/2032¥3,683,750 $25,000 
Schedule of Hedging Instruments
The fair values of hedging instruments and their respective classification on our unaudited condensed consolidated balance sheets and amounts subject to offset under master netting arrangements consisted of the following:
(in thousands) Hedging Assets
 March 31, 2026December 31, 2025
Derivatives and non-derivatives designated as hedging instrumentsBalance Sheet Classification  
Foreign currency exchange contractsOther current assets$5,416 $2,793 
Interest rate swap contractOther current assets1,301 — 
Foreign currency exchange contractsOther long-term assets2,068 — 
Cross currency swapsOther long-term assets4,250 1,700 
Total derivative instruments presented as hedging instruments on the balance sheet13,035 4,493 
Gross amounts subject to master netting arrangements not offset on the balance sheet(3,186)(1,941)
Net amount $9,849 $2,552 




(in thousands) Hedging Liabilities
 March 31, 2026December 31, 2025
Derivatives and non-derivatives designated as hedging instrumentsBalance Sheet Classification  
Foreign currency exchange contracts Accrued liabilities$3,873 $6,661 
Cross currency swapsOther long-term liabilities9,796 13,270 
Interest rate swap contractOther long-term liabilities— 446 
Total derivative instruments presented as hedging instruments on the balance sheet13,669 20,377 
Gross amounts subject to master netting arrangements not offset on the balance sheet(3,186)(1,941)
Net amount $10,483 $18,436