FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Financial Assets and Liabilities Measured at Fair Value

The following table sets forth certain fair value information at June 30, 2026 and December 31, 2025 for financial assets and liabilities measured at fair value by level within the fair value hierarchy, as well as cost or amortized cost. As required by the fair value measurement guidance, assets and liabilities are classified in their entirety based on the lowest level of inputs that is significant to the fair value measurement.


			June 30, 2026
			Fair Value
	Carrying Value at June 30, 2026		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets:
Current assets:
Cash equivalents (primarily restricted cash accounts)	$	64,549	$	64,549	$	64,549	$	—	$	—





Derivatives: cross-currency swap (1)	4,233		4,233		—		4,233		—
Derivatives: currency forward and option contracts (2)	791		791		—		791		—
Long-term assets:
Derivatives: cross-currency swap (1)	20,610		20,610		—		20,610		—
Derivatives: interest rate swap (3)	759		759		—		759		—
Liabilities:
Current liabilities:



Derivatives: interest rate swap (3)	(103)		(103)		—		(103)		—





	$	90,839	$	90,839	$	64,549	$	26,290	$	—


			December 31, 2025
			Fair Value
	Carrying Value at December 31, 2025		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets:
Current assets:
Cash equivalents (primarily restricted cash accounts)	$	47,463	$	47,463	$	47,463	$	—	$	—



Derivatives: cross currency swap (1)	1,343		1,343		—		1,343		—
Long-term assets:
Derivatives: interest rate swap (3)	1,407		1,407		—		1,407		—



Derivatives: cross currency swap (1)	11,925		11,925		—		11,925		—
Liabilities:
Current liabilities:
Derivatives: interest rate swap (3)	(832)		(832)		—		(832)		—




Long-term liabilities:


Derivatives: interest rate swap (3)	(430)		(430)		—		(430)		—

	$	60,876	$	60,876	$	47,463	$	13,413	$	—

1.These amounts relate to cross-currency swap contracts valued primarily based on the present value of the cross-currency swap future settlement prices for U.S. Dollar (“USD”) and New Israeli Shekel (“NIS”) zero yield curves and the applicable exchange rate as of June 30, 2026 and December 31, 2025, as applicable. These amounts are included within “Prepaid expenses and other”, “Deposits and other”, “Accounts payable and accrued expenses” or “Other long-

term liabilities”, as applicable, in the consolidated balance sheets on June 30, 2026 and December 31, 2025. There were no cash collateral deposits as of June 30, 2026 and December 31, 2025.

2.These amounts relate to currency forward and option contracts valued primarily based on observable inputs, including forward and spot prices for currencies, net of contracted rates and then multiplied by notional amounts, and are included within “Receivables, other” or “Accounts payable and accrued expenses”, as applicable, in the consolidated balance sheets on June 30, 2026 and December 31, 2025, with the corresponding gain or loss being recognized within “Derivatives and foreign currency transaction gains (losses)” in the consolidated statements of operations and comprehensive income.

3.This amount relates to interest rate swap contracts valued primarily based on the present value of the interest rate swap settlement prices and the future 3-month SOFR and EUROBOR prices, based on USD and Euro zero yield curves as of June 30, 2026 and December 31, 2025. These amounts are included within “Receivables, other”, “Deposits and other”, “Accounts payable and accrued expenses”, or “Other long-term liabilities”, as applicable, in the consolidated balance sheets on June 30, 2026.

Schedule of Gain (Loss) Recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss)

The following table presents the amounts of gain (loss) recognized in the condensed consolidated statements of operations and comprehensive income on derivative instruments:


		Amount of recognized gain (loss)
Derivative instruments	Location of gain (loss)	Three Months Ended June 30,				Six Months Ended June 30,
		2026		2025		2026		2025
		(Dollars in thousands)







Derivatives not designated as hedging instruments
Currency forward and option contracts (1)	(a)	$	1,507	$	4,040	$	1,267	$	3,693
Derivatives designated as cash flow hedging instruments
Cross-currency swap (2)	(a)	$	7,310	$	18,648	$	8,796	$	14,983
Interest rate swap (2)	(b)	$	(39)	$	101	(83)		202
Total		$	7,271	$	18,749	$	8,713	$	15,185

(a) Derivatives and foreign currency transaction gains (losses)

(b) Interest expense, net

1.The foregoing currency forward and option transactions were not designated as hedge transactions and were marked to market with the corresponding gains or losses recognized within “Derivatives and foreign currency transaction gains (losses)” in the consolidated statements of operations and comprehensive income.

2.The foregoing cross-currency and interest rate swap transactions were designated as a cash flow hedging instruments. The changes in the cross-currency swap fair value are initially recorded in “Other comprehensive income (loss)” and a corresponding amount is reclassified out of “Accumulated other comprehensive income (loss)” to “Derivatives and foreign currency transaction gains (losses)” to offset the remeasurement of the underlying hedged transaction which also impacts the same line item in the condensed consolidated statements of operations and comprehensive income. The changes in the interest rate swap fair value are initially recorded in “Other comprehensive income (loss)” and a corresponding amount is reclassified out of “Accumulated other comprehensive income (loss)” to “Interest expenses, net” to offset the remeasurement of the underlying hedged transaction which also impacts the same line item in the condensed consolidated statements of operations and comprehensive income.

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

The following table presents the effect of derivative instruments designated as cash flow hedges on the consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2026, and 2025:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(Dollars in thousands)
Cash flow hedges:
Balance in Accumulated other comprehensive income (loss) beginning of period	$	864	$	(3,294)	$	(984)	$	684
Gain or (loss) recognized in Other comprehensive income (loss):
Cross-currency swap	9,721		19,971		11,576		12,840
Interest rate swap	(882)		(132)		552		(543)
Amounts reclassified from Other comprehensive income (loss) into earnings:
Cross-currency swap	(7,310)		(18,648)		(8,796)		(14,983)
Interest rate swap	39		(101)		83		(202)
Balance in Accumulated other comprehensive income (loss) end of period	$	2,432	$	(2,204)	$	2,432	$	(2,204)

Schedule of Fair Value of Long-Term Debt

The fair value of the Company’s long-term debt approximates its carrying amount, except for the following:


	Fair Value	Fair Value				Carrying Amount (*)
	Hierarchy Level	June 30, 2026		December 31, 2025		June 30, 2026		December 31, 2025
		(Dollars in millions)
Limited and non-recourse loans: fixed rate	3	$	766.3	$	743.4	$	787.6	$	739.2
Full recourse loans:
Fixed-rate	3	715.9		804.8		724.6		808.7
Variable-rate	3	399.1		427.6		391.1		418.8
Financing liability: fixed-rate	3	220.4		223.0		213.8		216.4
2027 Convertible Note	2	239.2		643.7		190.6		476.4
2031 Convertible Note	2	1,081.8		—		1,000.0		—

(*) The carrying amount of the debt excludes the related deferred financing costs.