XML 45 R35.htm IDEA: XBRL DOCUMENT v3.22.2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
6 Months Ended
Jun. 30, 2022
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of fair value of the Company's derivative financial instruments as well as classification on the condensed consolidated balance sheets

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of June 30, 2022 and December 31, 2021 (in thousands):

Asset Derivatives

Fair value as of:

Derivatives designated as

Balance Sheet

June 30, 

December 31, 

hedging instruments

    

Location

    

2022

    

2021

Foreign currency contracts

Prepaid expenses and other assets

$

$

39

Interest rate products

Other long-term assets

4,928

340

$

4,928

$

379

Liability Derivatives

Fair value as of:

Derivatives designated as

Balance Sheet

June 30, 

December 31, 

hedging instruments

    

Location

    

2022

    

2021

Foreign currency contracts

Accrued liabilities

$

33

$

Interest rate products

Accrued liabilities

120

$

33

$

120

Schedule of effect of cash flow hedge accounting on other comprehensive income (loss) (OCI)

Asset Derivatives

Fair value as of:

Derivatives designated as

Balance Sheet

June 30, 

December 31, 

hedging instruments

    

Location

    

2022

    

2021

Foreign currency contracts

Prepaid expenses and other assets

$

$

39

Interest rate products

Other long-term assets

4,928

340

$

4,928

$

379

Liability Derivatives

Fair value as of:

Derivatives designated as

Balance Sheet

June 30, 

December 31, 

hedging instruments

    

Location

    

2022

    

2021

Foreign currency contracts

Accrued liabilities

$

33

$

Interest rate products

Accrued liabilities

120

$

33

$

120

Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statements of income and comprehensive income

Amount of pre-tax loss reclassified

Amount of pre-tax loss reclassified

from accumulated OCI into income

from accumulated OCI into income

Location of (loss) gain reclassified

Three months ended June 30, 

Six months ended June 30, 

from accumulated OCI into income

2022

2021

    

2022

    

2021

Interest expense

$

(102)

$

(231)

$

(288)

$

(456)

The table below presents the line items that reflect the effect of the Company’s derivative financial instruments on the condensed consolidated statements of income and comprehensive (loss) income for the three and six months ended June 30, 2022 and 2021 (in thousands):

Total amounts of income and expense

Total amounts of income and expense

line items presented that reflect the

line items presented that reflect the

effects of cash flow hedges recorded

effects of cash flow hedges recorded

Three months ended June 30, 

Six months ended June 30, 

Derivatives designated as hedging instruments

    

Income Statement Location

    

2022

    

2021

    

2022

    

2021

Interest rate products

 

Interest Expense

$

1,525

$

807

$

2,563

$

1,668

Schedule of fair value provides the location that derivative assets and liabilities

Derivative assets:

Net amounts

Gross amounts

of assets

Gross amounts not offset in the consolidated 

As of 

Gross amounts

offset in the

presented in the

balance sheets

June 30, 

of recognized

consolidated

consolidated

Financial

Cash collateral

2022

    

assets

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

$

4,928

$

$

4,928

$

$

$

4,928

Net amounts

Gross amounts

of assets

Gross amounts not offset in the consolidated 

As of 

Gross amounts

offset in the

presented in the

balance sheets

December 31, 

of recognized

consolidated

consolidated

Financial

Cash collateral

2021

    

assets

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

$

387

$

(8)

$

379

$

$

$

379

Derivative liabilities:

Net amounts

Gross amounts

of liabilities

Gross amounts not offset in the consolidated 

As of 

Gross amounts

offset in the

presented in the

balance sheets

June 30, 

of recognized

consolidated

consolidated

Financial

Cash collateral

2022

    

liabilities

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

$

39

$

(6)

$

33

$

$

$

33

Net amounts

Gross amounts

of liabilities

Gross amounts not offset in the consolidated 

As of 

Gross amounts

offset in the

presented in the

balance sheets

December 31, 

of recognized

consolidated

consolidated

Financial

Cash collateral

2021

    

liabilities

    

balance sheets

    

balance sheets

    

instruments

    

received

    

Net amount

Derivatives

$

120

$

$

120

$

$

$

120