DERIVATIVES AND HEDGING TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Values of Outstanding Derivatives

The following table summarizes the gross fair value of the Company’s outstanding derivatives and the lines in which they are presented on the condensed consolidated balance sheet.

	Derivative Assets				Derivative Liabilities
(in thousands)	September 30, 2023		December 31, 2022		September 30, 2023		December 31, 2022
Prepaid expenses and other current assets	$	10,603	$	11,911	$	—	$	—
Other non-current assets	5,391		3,631		—		—
Accrued expenses and other current liabilities	—		—		2,939		4,209
	$	15,994	$	15,542	$	2,939	$	4,209

The following table summarizes the notional values of the Company’s outstanding derivatives:

(in thousands)	September 30, 2023		December 31, 2022
Notional value of foreign currency forward contracts and interest rate swaps	$	813,995	$	965,973

Schedule of Derivative Instruments

The loss of all derivative instruments recognized is summarized below:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Loss (gain) reclassified from AOCI to income on cash flow hedges:
Cost of goods and services	$	(190)	$	(837)	$	(2,113)	$	(884)
Interest expense	(1,645)		585		(3,904)		585
Loss on derivatives not designated as hedging instruments:
Other (income) expense, net	778		1,167		3,125		6,578
Total loss of derivative instruments	$	(1,057)	$	915	$	(2,892)	$	6,279