v3.26.1
Derivative Instruments, Hedging Activities and Fair Value (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of outstanding derivative contracts
The fair value of outstanding derivative contracts recorded as assets and liabilities on the Company's Condensed Consolidated Balance Sheets was as follows:
(In thousands)Balance Sheet LocationFair Value of Derivatives Designated as Hedging InstrumentsFair Value of Derivatives Not Designated as Hedging InstrumentsTotal Fair Value
June 30, 2026
Asset derivatives (Level 2):
Foreign currency exchange forward contractsOther current assets$131 $6,960 $7,091 
Interest rate swapsOther current assets2,523 — 2,523 
Interest rate swapsOther assets1,763 — 1,763 
Total$4,417 $6,960 $11,377 
Liability derivatives (Level 2):
Foreign currency exchange forward contractsDerivative liabilities$416 $12,341 $12,757 
Total$416 $12,341 $12,757 
December 31, 2025
Asset derivatives (Level 2):
Foreign currency exchange forward contractsOther current assets$36 $1,340 $1,376 
Interest rate swapsOther current assets887 — 887 
Interest rate swapsOther assets313 — $313 
Total$1,236 $1,340 $2,576 
Liability derivatives (Level 2):
Foreign currency exchange forward contractsDerivative liabilities$861 $19,978 $20,839 
Total$861 $19,978 $20,839 
Schedule of effect of derivative instruments
The effect of derivative instruments on the Company's Condensed Consolidated Statements of Comprehensive Income (Loss) was as follows:
Derivatives Designated as Hedging Instruments
Gain (Loss) Recognized in
OCI on Derivatives
Loss (Gain) Reclassified from
AOCI into Income - Effective Portion or Equity
Three Months EndedThree Months Ended
June 30June 30
(In thousands)2026202520262025
Foreign currency exchange forward contracts$(160)$(1,440)$(406)$697 
Interest rate swaps1,887 (1,296)(423)(113)
$1,727 $(2,736)$(829)$584 
Gain (Loss) Recognized in
OCI on Derivatives
Loss (Gain) Reclassified from
AOCI into Income - Effective Portion or Equity
Six Months EndedSix Months Ended
June 30June 30
(In thousands)2026202520262025
Foreign currency exchange forward contracts$331 $(2,311)$(829)$889 
Interest rate swaps3,959 (4,080)(872)(230)
$4,290 $(6,391)$(1,701)$659 
The locations and amounts of gain (loss) recognized on the Company's Condensed Consolidated Statements of Operations was as follows:
Three Months Ended
June 30
20262025
(In thousands)Product RevenuesInterest ExpenseProduct RevenuesInterest Expense
Total amounts in the Condensed Consolidated Statement of Operations in which the effects of derivatives designated as hedging instruments are recorded$65,985 $(8,239)$57,013 $(8,739)
Interest rate swaps:
Gain (loss) reclassified from AOCI into income
— 423 — 113 
Foreign exchange contracts:
Gain (loss) reclassified from AOCI into income
406 — (697)— 
Six Months Ended
June 30
20262025
(In thousands)Product RevenuesInterest ExpenseProduct RevenuesInterest Expense
Total amounts in the Condensed Consolidated Statement of Operations in which the effects of derivatives designated as hedging instruments are recorded$131,763 $(16,766)$128,457 $(17,445)
Interest rate swaps:
Gain (loss) reclassified from AOCI into income
— 872 — 230 
Foreign exchange contracts:
Gain (loss) reclassified from AOCI into income
829 — (889)— 

Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in Income on Derivatives (a)
Amount of Gain (Loss) Recognized in Income on Derivatives (a)
Three Months EndedSix Months Ended
June 30June 30
(In thousands)2026202520262025
Foreign currency exchange forward contractsCost of services and products sold$2,623 $(30,981)$14,109 $(46,137)
(a)      These gains (losses) offset other amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.