Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

The fair value of derivative instruments recognized in our Consolidated Balance Sheets as of December 31, 2023 and 2022, by derivative instrument, are as follows:

DERIVATIVE INSTRUMENTS(1)	DECEMBER 31, 2023				DECEMBER 31, 2022
	Assets		Liabilities		Assets		Liabilities
Cash Flow Hedges(2)
Interest rate swap agreements	$	1,601	$	(3,273)	$	12,995	$	489
Net Investment Hedges(3)
Cross-currency swap agreements	4,758		(2,496)		38,401		—

(1)Our derivative assets are included as a component of (i) Prepaid expenses and other or (ii) Other within Other assets, net and our derivative liabilities are included as a component of (i) Accrued expenses and other current liabilities or (ii) Other long-term liabilities in our Consolidated Balance Sheets. As of December 31, 2023, $6,359 is included within Other assets, $2,496 is included within accrued expenses and other liabilities, and $3,273 is included within Other long-term liabilities. As of December 31, 2022, $2,606 is included within Prepaid expenses and other, $48,790 is included within Other assets and $489 is included within Other long-term liabilities.

(2)As of December 31, 2023, cumulative net gains recorded within Accumulated other comprehensive items, net associated with our interest rate swap agreements are $2,472, which include $2,528 related to our terminated interest rate swap agreements.

(3)As of December 31, 2023, cumulative net gains recorded within Accumulated other comprehensive items, net associated with our cross-currency swap agreements are $32,459, which include $30,197 related to the excluded component of our cross-currency swap agreements.

Schedule of gains (losses) for derivative instruments

Unrealized (losses) gains recognized in Accumulated other comprehensive items, net during the years ending December 31, 2023, 2022 and 2021, by derivative instrument, are as follows:

	YEAR ENDED DECEMBER 31,
DERIVATIVE INSTRUMENTS	2023		2022		2021
Cash Flow Hedges
Interest rate swap agreements	$	(2,454)	$	20,186	$	13,382
Net Investment Hedges
Cross-currency swap agreements	(41,382)		28,044		38,998
Cross-currency swap agreements (excluded component)	21,097		9,100		—

Gains (losses) recognized in Net income during the years ending December 31, 2023, 2022 and 2021, by derivative instrument, are as follows:

		YEAR ENDED DECEMBER 31,
DERIVATIVE INSTRUMENTS	Location of gain (loss)	2023		2022		2021
Cash Flow Hedges
Interest rate swap agreements	Interest expense	$	7,580	$	—	$	—
Net Investment Hedges
Cross-currency swap agreements (excluded component)	Interest expense	(21,097)		(9,100)		—