Foreign Currency Exchange Contracts and Hedging |
3 Months Ended |
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Mar. 31, 2025 | |
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
| Foreign Currency Exchange Contracts and Hedging |
10. Foreign currency exchange contracts and hedging As of March 31, 2025 and March 31, 2024, the Company’s total non-designated and designated derivative contracts had notional amounts totaling approximately $46,178 and $20,014, respectively, and $37,425 and $0, respectively. These contracts were comprised of offsetting contracts with the same counterparty, each expires within one to ten months. During the three months ended March 31, 2025 and 2024, these contracts had, net of tax, an unrealized loss of $865 and an unrealized gain or (loss) of $0, respectively. The nonperformance risk of the Company and the counterparty did not have a material impact on the fair value of the derivatives. During the three months ended March 31, 2025, there were no ineffective portions relating to these hedges and the hedges remained effective through their respective settlement dates. During the three months ended March 31, 2024, there were no ineffective portions related to these hedges. As of March 31, 2025, the Company had nine designated hedges and four non-designated hedges. As of March 31, 2024, the Company had no designated hedges and four non-designated hedges |
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- References No definition available.
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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