v3.26.1
Derivatives (Tables)
6 Months Ended
Jun. 30, 2026
Derivatives  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on a gross basis was as follows on the dates indicated (in thousands):

Fair Value of Derivative Instruments Designated as Hedging Instruments

 

Balance Sheet Location

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Assets

 

  ​

 

  ​

 

  ​

Foreign currency forward contracts

 

Prepaid expenses and other assets

$

3,445

$

3,555

Foreign currency forward contracts

 

Other assets (long-term)

352

 

663

(Liabilities)

 

  ​

 

  ​

 

  ​

Foreign currency forward contracts

 

Accrued expenses

 

(2,082)

 

(2,183)

Foreign currency forward contracts

 

Other long-term obligations

 

(168)

 

(424)

Fair Value of Derivative Instruments Not Designated as Hedging Instruments

 

Balance Sheet Location

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Assets

 

  ​

 

  ​

 

  ​

Foreign currency forward contracts

 

Prepaid expenses and other assets

$

2,147

$

1,390

(Liabilities)

 

  ​

 

  ​

 

  ​

Foreign currency forward contracts

 

Accrued expenses

 

(1,967)

 

(1,620)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income (“OCI”), accumulated other comprehensive income (“AOCI”), and net earnings in our consolidated statements of income, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

Amount of Gain/(Loss)

Consolidated Statements

Amount of Gain/(Loss)

Recognized in OCI

of Income

Reclassified from AOCI

Three Months Ended June 30, 

 

  ​

Three Months Ended June 30, 

Three Months Ended June 30, 

Derivative instrument

  ​ ​ ​

2026

 

2025

  ​ ​ ​

Location in statements of income

  ​ ​ ​

2026

  ​

  ​

2025

  ​

2026

  ​

  ​

2025

Foreign currency forward contracts

$

732

$

(1,396)

Revenue

$

418,843

$

382,462

$

(643)

$

509

Cost of sales

 

(203,677)

 

(197,975)

 

1,040

 

(242)

Amount of Gain/(Loss)

Consolidated Statements

Amount of Gain/(Loss)

Recognized in OCI

of Income

Reclassified from AOCI

Six Months Ended June 30, 

  ​

Six Months Ended June 30, 

Six Months Ended June 30, 

  ​ ​ ​

Derivative instrument

  ​ ​ ​

2026

 

2025

  ​ ​ ​

Location in statements of income

  ​ ​ ​

2026

 

2025

  ​

2026

 

 

2025

 

Foreign currency forward contracts

$

590

$

(3,293)

Revenue

$

800,720

$

737,813

$

(1,160)

$

1,530

Cost of sales

 

(400,757)

 

(381,306)

 

1,955

 

(774)

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the periods presented (in thousands):

  ​ ​ ​

  ​ ​ ​

Three Months Ended June 30, 

  ​ ​ ​

Six Months Ended June 30, 

Derivative Instrument

 

Location in statements of income

 

2026

 

2025

 

2026

 

2025

Foreign currency forward contracts

 

Other income (expense) — net

$

(1,753)

$

1,340

$

(3,441)

$

1,182