Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2023

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 value on a recurring basis as of June 30, 2023 and December 31, 2022 (in thousands):

	Fair Value		Level 1		Level 2		Level 3
June 30, 2023
Assets:
Repurchase agreements	$	550,268	$	—	$	550,268	$	—
Money market	138,578		—		138,578		—
Certificates of deposit	58,382		—		58,382		—
Treasury bills	48,926		—		48,926		—
Interest rate swaps	29,753		—		29,753		—
Foreign exchange contracts	259,642		—		259,642		—
Total assets	$	1,085,549	$	—	$	1,085,549	$	—
Cash collateral for foreign exchange contracts	$	41,832
Liabilities:
Cross-currency interest rate swap	8,053		—		8,053		—
Foreign exchange contracts	202,853		—		202,853		—
Total liabilities	$	210,906	$	—	$	210,906	$	—
Cash collateral obligation for foreign exchange contracts	$	165,475
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