v3.24.1.u1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of derivative instruments in the consolidated balance sheets
Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023
March 31, 2024December 31, 2023
Balance Sheet
Location
Derivatives Designated as Hedging InstrumentsDerivatives not Designated as Hedging InstrumentsDerivatives Designated as Hedging InstrumentsDerivatives not Designated as Hedging Instruments
Derivative Assets
Foreign Exchange ContractsPrepaid and other$— $306 $— $386 
$— $306 $— $386 
Derivative Liabilities
Foreign Exchange ContractsAccounts payable, accrued and other liabilities$— $438 $— $221 
Cross Currency Swap Contract (1)Accounts payable, accrued and other liabilities18,347 — 22,199 — 
$18,347 $438 $22,199 $221 
__________________________
(1)This cross currency swap agreement is composed of both an interest component and a foreign exchange component.
Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income (loss)
The Effect of Derivatives Designated as Hedging Instruments on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended March 31, 2024 and 2023
Derivatives Designated as Hedging InstrumentsAmount of Gain
Recognized in
Other Comprehensive
Income on Derivative		Location of Gain Recognized
in Income on
Derivatives		Amount of Gain
Reclassified from
Accumulated
Other Comprehensive
Income on Derivative		Total Amount of Affected Income Statement Line Item
2024202320242023
Cross currency swap agreement:
Interest component$— $— Interest expense$— $— $(10,175)
Foreign exchange component2,908 (1,367)Miscellaneous, net— — (859)
$2,908 $(1,367)$— $— 
Schedule of effect of derivatives not designated as hedging instruments on the consolidated statements of income
The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended March 31, 2024 and 2023
Derivatives Not Designated
as Hedging Instruments		Location of Loss Recognized
in Income on Derivatives		Amount of Loss
Recognized in Income
on Derivatives
20242023
Foreign Exchange ContractsOther (Expense) Income:
Miscellaneous, net		$(297)$(860)
$(297)$(860)
Schedule of offsetting derivative assets and liabilities
Gross Amounts Offset in the Statement of Financial PositionNet Amounts Presented in the Statement of Financial PositionGross Amounts not Offset in the Statement of Financial Position
Gross AmountFinancial InstrumentsCash Collateral ReceivedNet Amount
March 31, 2024
Derivative Assets$306 — $306 — — $306 
Total Assets$306 — $306 — — $306 
Derivative Liabilities$18,785 — $18,785 — — $18,785 
Total Liabilities$18,785 — $18,785 — — $18,785 
December 31, 2023
Derivative Assets$386 — $386 — — $386 
Total Assets$386 — $386 — — $386 
Derivative Liabilities$22,420 — $22,420 — — $22,420 
Total Liabilities$22,420 — $22,420 — — $22,420