| Schedule of Derivative Instruments |
The following table presents the fair value of outstanding derivatives on an individual contract basis:
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Fair Value of Derivatives
with Unrealized Gains |
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Fair Value of Derivatives
with Unrealized Losses |
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March |
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December |
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March |
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March |
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December |
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March |
| (In thousands) |
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2025 |
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2024 |
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2024 |
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2025 |
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2024 |
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2024 |
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| Derivatives designated as hedging instruments: |
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| Foreign currency exchange contracts |
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$ |
3,045 |
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$ |
7,720 |
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$ |
18,553 |
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$ |
(9,557) |
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$ |
(11,620) |
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$ |
(1,710) |
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| Interest rate swap agreements |
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2,508 |
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5,390 |
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596 |
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— |
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— |
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— |
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| Derivatives not designated as hedging instruments: |
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| Foreign currency exchange contracts |
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15 |
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— |
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— |
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(8,865) |
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— |
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(72) |
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| Total derivatives |
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$ |
5,568
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$ |
13,110
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$ |
19,149
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$ |
(18,422) |
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$ |
(11,620) |
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$ |
(1,782) |
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The following table presents a reconciliation of gross to net amounts for derivative asset and liability balances:
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March 2025 |
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December 2024 |
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March 2024 |
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| (In thousands) |
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Derivative Asset |
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Derivative Liability |
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Derivative Asset |
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Derivative Liability |
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Derivative Asset |
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Derivative Liability |
| Gross amounts presented in the balance sheet |
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$ |
5,568 |
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$ |
(18,422) |
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$ |
13,110 |
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$ |
(11,620) |
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$ |
19,149 |
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$ |
(1,782) |
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| Gross amounts not offset in the balance sheet |
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(2,827) |
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2,827 |
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(3,468) |
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3,468 |
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(1,417) |
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1,417 |
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| Net amounts |
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$ |
2,741
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$ |
(15,595) |
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$ |
9,642
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$ |
(8,152) |
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$ |
17,732
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$ |
(365) |
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The following table presents the location of derivatives in the Company's balance sheets, with current or noncurrent classification based on maturity dates:
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| (In thousands) |
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March 2025 |
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December 2024 |
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March 2024 |
| Prepaid expenses and other current assets |
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$ |
2,567 |
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$ |
5,845 |
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$ |
17,016 |
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| Accrued and other current liabilities |
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(17,305) |
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(10,659) |
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(1,638) |
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| Other assets |
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3,001 |
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7,265 |
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2,133 |
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| Other liabilities |
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(1,117) |
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(961) |
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(144) |
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| Pre-Tax Effects of Cash Flow Hedges Included in the Statement of Operations and Statements of Comprehensive Income (Loss) |
The following tables present the pre-tax effects of cash flow hedges included in the Company's statements of operations and statements of comprehensive income:
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Gain (Loss) on Derivatives Recognized in AOCL |
| (In thousands) |
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Three Months Ended March |
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| Cash Flow Hedging Relationships |
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2025 |
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2024 |
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| Foreign currency exchange contracts |
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$ |
(3,751) |
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$ |
10,146 |
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| Interest rate swap agreements |
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(2,464) |
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74 |
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| Total |
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$ |
(6,215) |
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$ |
10,220
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Gain (Loss) Reclassified from AOCL into Income |
| (In thousands) |
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Three Months Ended March |
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| Location of Gain (Loss) |
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2025 |
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2024 |
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| Net revenues |
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$ |
(811) |
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$ |
53 |
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| Cost of goods sold |
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(489) |
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5,291 |
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| Other expense, net |
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176 |
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82 |
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| Interest expense |
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419 |
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2,731 |
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| Total |
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$ |
(705) |
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$ |
8,157
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