Fair Value Measurements (Tables)

9 Months Ended

Sep. 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 September 30, 2023 and December 31, 2022 (in thousands):

	Fair Value		Level 1		Level 2		Level 3
September 30, 2023
Assets:
Repurchase agreements	$	207,458	$	—	$	207,458	$	—
Money market mutual funds	154,886		—		154,886		—
Certificates of deposit	226,541		—		226,541		—
Treasury bills	184,625		—		184,625		—
Interest rate swaps	54,125		—		54,125		—
Cross-currency interest rate swap	6,850		—		6,850		—
Foreign exchange contracts	317,084		—		317,084		—
Total assets	$	1,151,569	$	—	$	1,151,569	$	—
Cash collateral for foreign exchange contracts	$	46,100
Liabilities:
Interest rate swaps	$	6,526	$	—	6,526		—
Foreign exchange contracts	266,967		—		266,967		—
Total liabilities	$	273,493	$	—	$	273,493	$	—
Cash collateral obligation for foreign exchange contracts	$	187,100
December 31, 2022
Assets:
Repurchase agreements	$	444,216	$	—	$	444,216	$	—
Money market mutual funds	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