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Fair Value Measurements and Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis The following tables show, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis.
September 30, 2023
Level 1Level 2Level 3Total
Assets:    
Investment securities    
Money market funds $13,365 $137,444 $— $150,809 
Equity securities— 13,778 — 13,778 
Commingled fixed income securities1,500 5,756 — 7,256 
Government and related securities
10,456 17,350 — 27,806 
Corporate debt securities— 50,820 — 50,820 
Mortgage-backed / asset-backed securities— 114,327 — 114,327 
Derivatives 
Interest rate swap— 11,683 — 11,683 
Total assets$25,321 $351,158 $— $376,479 
Liabilities:    
Derivatives    
Foreign exchange contracts$— $(715)$— $(715)
Total liabilities$— $(715)$— $(715)
December 31, 2022
Level 1Level 2Level 3Total
Assets:    
Investment securities    
Money market funds $29,087 $238,536 $— $267,623 
Equity securities— 13,233 — 13,233 
Commingled fixed income securities1,520 6,526 — 8,046 
Government and related securities
10,253 18,796 — 29,049 
Corporate debt securities — 52,319 — 52,319 
Mortgage-backed / asset-backed securities— 126,882 — 126,882 
Derivatives   
Interest rate swap— 15,283 — 15,283 
Foreign exchange contracts— 479 — 479 
Total assets$40,860 $472,054 $— $512,914 
Liabilities:    
Derivatives    
Foreign exchange contracts$— $(1,472)$— $(1,472)
Total liabilities$— $(1,472)$— $(1,472)
Schedule of Available-for-sale Securities Reconciliation
Available-for-sale securities consisted of the following:
September 30, 2023
Amortized costGross unrealized lossesEstimated fair value
Government and related securities$35,125 $(9,054)$26,071 
Corporate debt securities65,271 (14,451)50,820 
Commingled fixed income securities1,778 (278)1,500 
Mortgage-backed / asset-backed securities148,113 (33,786)114,327 
Total$250,287 $(57,569)$192,718 
December 31, 2022
Amortized costGross unrealized gainsGross unrealized lossesEstimated fair value
Government and related securities$35,744 $11 $(8,210)$27,545 
Corporate debt securities66,300 — (13,981)52,319 
Commingled fixed income securities1,749 — (229)1,520 
Mortgage-backed / asset-backed securities156,352 — (29,470)126,882 
Total$260,145 $11 $(51,890)$208,266 
Schedule of Unrealized Holding Losses
Investment securities in a loss position were as follows:
September 30, 2023December 31, 2022
Fair ValueGross unrealized lossesFair ValueGross unrealized losses
Greater than 12 continuous months
Government and related securities$26,071 $9,054 $17,063 $2,753 
Corporate debt securities50,820 14,451 48,812 13,749 
Mortgage-backed / asset-backed securities114,327 33,786 114,839 28,040 
Total$191,218 $57,291 $180,714 $44,542 
Less than 12 continuous months
Government and related securities$— $— $10,061 $5,457 
Corporate debt securities— — 3,508 232 
Commingled fixed income securities1,500 278 1,520 229 
Mortgage-backed / asset-backed securities— — 12,042 1,430 
Total$1,500 $278 $27,131 $7,348 
Schedule of Available-for-sale Securities
Scheduled maturities of available-for-sale securities at September 30, 2023 were as follows:
Amortized costEstimated fair value
Within 1 year$2,567 $2,280 
After 1 year through 5 years15,107 13,669 
After 5 years through 10 years71,033 56,861 
After 10 years161,580 119,908 
Total$250,287 $192,718 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value of derivative instruments was as follows:
Designation of DerivativesBalance Sheet LocationSeptember 30,
2023		December 31,
2022
Derivatives designated as hedging instruments  
Foreign exchange contractsOther current assets and prepayments$— $15 
 Accounts payable and accrued liabilities— (23)
Interest rate swapsOther assets 11,683 15,283 
Derivatives not designated as hedging instruments  
Foreign exchange contractsOther current assets and prepayments— 464 
 Accounts payable and accrued liabilities(715)(1,449)
 Total derivative assets$11,683 $15,762 
 Total derivative liabilities(715)(1,472)
 Total net derivative asset$10,968 $14,290 
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
Results of cash flow hedging relationships were as follows:
Three Months Ended September 30,
Derivative Gain (Loss)
Recognized in AOCL
(Effective Portion)		Location of Gain (Loss)
(Effective Portion)		Gain (Loss) Reclassified
from AOCL to Earnings
(Effective Portion)
Derivative Instrument2023202220232022
Foreign exchange contracts$— $134 Cost of sales$— $80 
Interest rate swap(1,600)3,936 Interest expense137 137 
 $(1,600)$4,070  $137 $217 
 Nine Months Ended September 30,
 Derivative Gain (Loss)
Recognized in AOCL
(Effective Portion)		Location of Gain (Loss)
(Effective Portion)		Gain (Loss) Reclassified
from AOCL to Earnings
(Effective Portion)
Derivative Instrument2023202220232022
Foreign exchange contracts$(25)$257 Cost of sales$(33)$143 
Interest rate swap(3,600)12,863 Interest expense412 412 
 $(3,625)$13,120  $379 $555 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The impact on earnings from the change in fair value of these foreign exchange contracts, exclusive of the corresponding impact on earnings from the revaluation of the intercompany loans and related interest, was as follows:
Three Months Ended September 30,
Derivative Gain (Loss) Recognized in Earnings
Derivatives InstrumentLocation of Derivative Gain (Loss)20232022
Foreign exchange contractsSelling, general and administrative expense$(11,614)$(24,116)
Nine Months Ended September 30,
Derivative Gain (Loss) Recognized in Earnings
Derivatives InstrumentLocation of Derivative Gain (Loss)20232022
Foreign exchange contractsSelling, general and administrative expense$(4,150)$(45,299)
Schedule of Fair Value, by Balance Sheet Grouping The carrying value and estimated fair value of debt was as follows:
September 30, 2023December 31, 2022
Carrying value$2,158,128 $2,205,266 
Fair value$1,804,017 $1,856,878