Derivative Instruments, Hedging Activities and Fair Value (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair value of outstanding derivative contracts

The fair value of outstanding derivative contracts recorded as assets and liabilities on the Company's Condensed Consolidated Balance Sheets was as follows:

(In thousands)	Balance Sheet Location	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
March 31, 2024
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	101	$	4,443	$	4,544
Interest rate swaps	Other current assets	2,202		—		2,202
Total		$	2,303	$	4,443	$	6,746
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	388	$	394	$	782
Interest rate swaps	Other liabilities	210		—		210
Total		$	598	$	394	$	992
December 31, 2023
Asset derivatives (Level 2):
Foreign currency exchange forward contracts	Other current assets	$	77	$	1,597	$	1,674
Interest rate swaps	Other current assets	1,443		—		1,443
Total		$	1,520	$	1,597	$	3,117
Liability derivatives (Level 2):
Foreign currency exchange forward contracts	Other current liabilities	$	561	$	8,064	$	8,625
Interest rate swaps	Other liabilities	2,150		—		2,150
Total		$	2,711	$	8,064	$	10,775

Schedule of effect of derivative instruments

The effect of derivative instruments on the Company's Condensed Consolidated Statements of Comprehensive Income (Loss) was as follows:

Derivatives Designated as Hedging

	Gain (Loss) Recognized in OCI on Derivatives				Loss (Gain) Reclassified from AOCI into Income - Effective Portion or Equity
	Three Months Ended				Three Months Ended
	March 31				March 31
(In thousands)	2024		2023		2024		2023
Foreign currency exchange forward contracts	$	223	$	(682)	$	(404)	$	411
Interest rate swaps	3,581		(2,887)		(882)		(248)
	$	3,804	$	(3,569)	$	(1,286)	$	163

The location and amount of gain (loss) recognized on the Company's Condensed Consolidated Statements of Operations was as follows:

	Three Months Ended
	March 31
	2024				2023
(In thousands)	Product Revenues		Interest Expense		Product Revenues		Interest Expense
Total amounts in the Condensed Consolidated Statement of Operations in which the effects of derivatives designated as hedging instruments are recorded	$	101,163	$	(28,122)	$	99,145	$	(24,995)
Interest rate swaps:
Gain or (loss) reclassified from AOCI into income	—		882		—		248
Foreign exchange contracts:
Gain or (loss) reclassified from AOCI into income	404		—		(411)		—

Derivatives Not Designated as Hedging Instruments

	Location of Gain (Loss) Recognized in Income on Derivatives (a)	Three Months Ended
		March 31
(In thousands)		2024		2023
Foreign currency exchange forward contracts	Cost of services and products sold	$	9,914	$	(3,297)

(a)      These gains (losses) offset other amounts recognized in cost of services and products sold principally as a result of intercompany or third party foreign currency exposures.