| 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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2026 |
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2025 |
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2025 |
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2026 |
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2025 |
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2025 |
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| Derivatives designated as hedging instruments: |
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| Foreign currency exchange contracts |
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$ |
16,558 |
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$ |
11,373 |
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$ |
3,045 |
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$ |
(8,397) |
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$ |
(9,641) |
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$ |
(9,557) |
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| Interest rate swap agreements |
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2,334 |
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279 |
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2,508 |
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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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1,297 |
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— |
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15 |
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(266) |
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(255) |
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(8,865) |
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| Total derivatives |
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$ |
20,189
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$ |
11,652
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$ |
5,568
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$ |
(8,663) |
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$ |
(9,896) |
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$ |
(18,422) |
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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 2026 |
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December 2025 |
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March 2025 |
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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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$ |
20,189 |
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$ |
(8,663) |
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$ |
11,652 |
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$ |
(9,896) |
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$ |
5,568 |
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$ |
(18,422) |
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| Gross amounts not offset in the balance sheet |
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(5,755) |
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5,755 |
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(3,043) |
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3,043 |
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(2,827) |
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2,827 |
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| Net amounts |
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$ |
14,434
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$ |
(2,908) |
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$ |
8,609
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$ |
(6,853) |
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$ |
2,741
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$ |
(15,595) |
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| Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates |
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 2026 |
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December 2025 |
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March 2025 |
| Prepaid expenses and other current assets |
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$ |
14,703 |
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$ |
9,906 |
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$ |
2,567 |
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| Accrued and other current liabilities |
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(7,447) |
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(8,546) |
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(17,305) |
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| Other assets |
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5,486 |
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1,746 |
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3,001 |
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| Other liabilities |
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(1,216) |
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(1,350) |
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(1,117) |
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| Schedule of 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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2026 |
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2025 |
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| Foreign currency exchange contracts |
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$ |
6,758 |
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$ |
(3,751) |
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| Interest rate swap agreements |
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2,412 |
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(2,464) |
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| Total |
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$ |
9,170
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$ |
(6,215) |
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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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2026 |
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2025 |
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| Net revenues |
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$ |
594 |
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$ |
(383) |
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| Cost of goods sold |
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(1,101) |
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(552) |
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| Other expense, net |
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16 |
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176 |
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| Interest expense |
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357 |
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419 |
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| Total |
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$ |
(134) |
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$ |
(340) |
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| Schedule of Derivatives Not Designated as Hedging Instruments |
The following table presents a summary of derivatives not designated as hedges included in the Company's statements of operations:
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| (In thousands) |
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Location of Gain (Loss) on Derivatives Recognized in Income |
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Gain (Loss) on Derivatives Recognized in Income |
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| Derivatives Not Designated as Hedges |
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Three Months Ended March |
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2026 |
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|
2025 |
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| Foreign currency exchange contracts |
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Net revenues |
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$ |
269 |
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$ |
— |
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| Foreign currency exchange contracts |
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Cost of goods sold |
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23 |
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— |
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| Foreign currency exchange contracts |
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Other expense, net |
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385 |
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(8,868) |
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| Total |
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$ |
677
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$ |
(8,868) |
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