Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent event On July 28, 2026, we amended and extended four existing EUR-USD cross-currency interest rate swap agreements with an aggregate pay notional amount of €150.0 million and aggregate receive notional amount of $159.8 million. The amended swaps became effective on July 28, 2026 and mature in July 2029 and July 2030. The amendments did not change the aggregate notional amounts or the EUR-USD exchange rate of 1.0652. Due to changes in the economic terms, we discontinued the previous hedge accounting relationships and prospectively redesignated the amended swaps in new hedging relationships under ASC 815. Two swaps were designated as net investment hedges of the Company’s Euro functional currency subsidiaries, and two swaps were designated as fair value hedges of foreign currency risk associated with an intercompany loan to a wholly owned European subsidiary. The amended swaps will be recorded at fair value each period and accounted for in accordance with the Company’s derivative instruments accounting policies.
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