Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Hedge Instruments on the Unaudited Condensed Consolidated Balance Sheets

The fair value of hedge instruments recognized on the unaudited condensed consolidated balance sheets was as follows:

(in thousands)		March 31,		December 31,
Balance Sheet Location	Hedge Instrument Type	2022		2021
Prepaid and other assets	Foreign exchange forward	$	7,814	$	6,320
Other assets	Foreign exchange forward	1,991		1,491
Accrued expenses and other liabilities	Foreign exchange forward	808		488

Schedule of Effect of Hedge Instruments on Accumulated Other Comprehensive Loss, Net of Tax

The hedge instrument gain (loss) recognized in accumulated other comprehensive loss, net of tax was as follows:

	Three months ended
	March 31,
(in thousands)	2022		2021
Type of hedge
Foreign exchange forward	$	3,076	$	4,376
Interest rate swap	—		(9)
Total	$	3,076	$	4,367

Schedule of Effect of Hedge Instrument in the Unaudited Condensed Consolidated Statement of Operations

The hedge instrument gain (loss) recognized on the unaudited condensed consolidated statements of operations was as follows:

	Three months ended
	March 31,
(in thousands)	2022		2021
Location of gain (loss) in statements of operations
Foreign exchange forward:
Cost of goods sold	$	1,355	$	396
Selling, general and administrative (1)	675		640
Total	$	2,030	$	1,036
Interest Rate Swap:
Interest expense, net	$	—	$	(959)
Total	$	—	$	(959)

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(1)    Relates to net gains (losses) on foreign exchange forward contracts derived from previously designated cash flow hedges.