Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Measured at Fair Value

The following table presents the Company’s financial assets and liabilities which are measured at fair values on a recurring basis as of December 31, 2022 and 2021, (in thousands): 

	Fair Value		Level 1		Level 2		Level 3
December 31, 2022
Assets:
Repurchase agreements	$	444,216	$	—	$	444,216	$	—
Money market	37,821		—		37,821		—
Certificates of deposit	181		—		181		—
Interest rate swaps	11,953		—		11,953		—
Foreign exchange contracts	266,917		—		266,917		—
Total assets	$	761,088	$	—	$	761,088	$	—
Cash collateral for foreign exchange contracts	$	56,103	$	—	$	—	$	—
Liabilities:
Foreign exchange contracts	224,725		—		224,725		—
Total liabilities	$	224,725	$	—	$	224,725	$	—
Cash collateral obligation for foreign exchange contracts	$	148,167	$	—	$	—	$	—
December 31, 2021
Assets:
Repurchase agreements	$	477,069	$	—	$	477,069	$	—
Money market	43,023		—		43,023		—
Certificates of deposit	958		—		958		—
Foreign exchange contracts	120,859		—		120,859		—
Total assets	$	641,909	$	—	$	641,908	$	—
Cash collateral for foreign exchange contracts	$	25,881	$	—	$	—	$	—
Liabilities:
Interest rate swaps1	$	30,733	—		$	30,733	—
Foreign exchange contracts	89,925		—		89,925		—
Total liabilities	$	120,658	$	—	$	120,658	$	—
Cash collateral obligation for foreign exchange contracts	$	24,803	$	—	$	—	$	—

1During 2022, the Company identified and corrected an immaterial error in the presentation of the December 31, 2021 interest rate swap liabilities in the table above. Such amount was incorrectly bracketed, which has since been corrected. The liability was correctly presented and classified in the Company's Consolidated Balance Sheet at December 31, 2021.