DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2023

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, 2023 and December 31, 2022:

		Asset Derivatives
		Fair value as of:
Derivatives designated as	Balance Sheet	June 30,		December 31,
hedging instruments	Location	2023		2022
Foreign currency contracts	Prepaid expenses and other assets	$	30	$	48
Interest rate swaps	Other long-term assets		6,675		7,236
		$	6,705	$	7,284
		Liability Derivatives
		Fair value as of:
Derivatives designated as	Balance Sheet	June 30,		December 31,
hedging instruments	Location	2023		2022
Foreign currency contracts	Accrued liabilities	$	27	$	—

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	2023		2022
Foreign currency contracts	Prepaid expenses and other assets	$	30	$	48
Interest rate swaps	Other long-term assets		6,675		7,236
		$	6,705	$	7,284
		Liability Derivatives
		Fair value as of:
Derivatives designated as	Balance Sheet	June 30,		December 31,
hedging instruments	Location	2023		2022
Foreign currency contracts	Accrued liabilities	$	27	$	—

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

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 income for the three and six months ended June 30, 2023 and 2022:

		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	2023		2022		2023		2022
Interest rate swaps	Interest Expense	$	3,162	$	1,525	$	6,145	$	2,563

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

The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2023 and December 31, 2022. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented in the condensed consolidated balance sheets:

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

2023

assets

balance sheets

balance sheets

instruments

received

Net amount

Derivatives

$

6,705

$

—

$

6,705

$

—

$

—

$

6,705

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

2022

assets

balance sheets

balance sheets

instruments

received

Net amount

Derivatives

$

7,284

$

—

$

7,284

$

—

$

—

$

7,284