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DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables)
3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Aggregate Notional Amounts for the Derivatives Outstanding
The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented.
Forward ContractsMarch 31,
2024
December 31,
2023
Derivatives designated as hedging instruments:
Sell$1,019,379 $1,249,662 
Purchase$157,832 $198,408 
Derivatives not designated as hedging instruments:
Sell$318,213 $350,269 
Purchase$10,955 $90,102 
Schedule of Fair Value Carrying Amounts of Derivatives
The fair value carrying amounts of the Company’s derivatives, which are classified as Level 2 within the fair value hierarchy, were as follows:
Balance Sheet LocationMarch 31,
2024
December 31,
2023
Derivatives designated as hedging instruments:
Asset Derivatives
Other current assets$11,937 $6,663 
Other assets2,489 1,855 
Subtotal$14,426 $8,518 
Liability Derivatives
Accounts payable and accrued liabilities$11,883 $30,005 
Other long-term liabilities2,512 8,171 
Subtotal$14,395 $38,176 
Derivatives not designated as hedging instruments:
Asset Derivatives
Other current assets$930 $547 
Liability Derivatives
Accounts payable and accrued liabilities$1,793 $3,848 
Total Derivatives Assets$15,356 $9,065 
Total Derivatives Liabilities$16,188 $42,024 
Schedule of Impact of Gains and Losses from Derivatives Designated and Not Designated as Hedging Instruments
The following tables summarize the impact of gains and losses from the Company's derivatives on its Condensed Consolidated Statements of Comprehensive Income for the periods presented.
Three Months Ended March 31,
20242023
Derivatives Designated as Cash Flow Hedging InstrumentsCash Flow Hedging Gains (Losses)
Reclassified into Earnings
Cash Flow Hedging Gains (Losses)
Reclassified into Earnings
Net product revenues$(1,119)$3,470 
Operating expenses$504 $(456)
Derivatives Not Designated as Hedging InstrumentsGains (Losses) Recognized in EarningsGains (Losses) Recognized in Earnings
Operating expenses$7,728 $(4,163)