v3.26.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Foreign Currency Exchange Rate Risk
We are exposed to foreign currency risk to the extent that we enter into transactions denominated in currencies other than one of our subsidiaries' respective functional currencies (non-functional currency risk), such as affiliation agreements, programming contracts, certain trade receivables and accounts payable (including intercompany amounts).
The fair values of the Company's derivative financial instruments included in the condensed consolidated balance sheets are as follows:
(In thousands)Balance Sheet LocationMarch 31, 2026December 31, 2025
Derivatives not designated as hedging instruments:
Assets:
Foreign currency derivatives Prepaid expenses and other current assets$2,905 $2,736 
Foreign currency derivatives Other assets5,094 6,795 
Liabilities:
Foreign currency derivatives Accrued liabilities$1,485 $1,993 
Foreign currency derivatives Other liabilities3,108 4,408 
The amounts of gains and losses related to the Company's derivative financial instruments not designated as hedging instruments are as follows:
(In thousands)Location of Gain (Loss) Recognized in Earnings on DerivativesAmount of Gain (Loss) Recognized in Earnings on Derivatives
Three Months Ended March 31,
 20262025
Foreign currency derivatives Miscellaneous, net$1,221 $(90)