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Fair Value Measurements and Derivative Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Summary 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.
December 31, 2023
Level 1Level 2Level 3Total
Assets:    
Investment securities    
Money market funds
$13,366 $188,484 $— $201,850 
Equity securities— 15,341 — 15,341 
Commingled fixed income securities1,581 5,741 — 7,322 
Government and related securities
11,489 18,999 — 30,488 
Corporate debt securities— 54,330 — 54,330 
Mortgage-backed / asset-backed securities— 119,901 — 119,901 
Derivatives 
Interest rate swaps— 8,425 — 8,425 
Total assets$26,436 $411,221 $— $437,657 
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)
Summary of Available-for-sale Securities Reconciliation
Available-for-sale securities consisted of the following:
December 31, 2023
Amortized costGross unrealized lossesEstimated fair value
Government and related securities$35,048 $(7,018)$28,030 
Corporate debt securities65,008 (10,678)54,330 
Commingled fixed income securities1,788 (207)1,581 
Mortgage-backed / asset-backed securities146,022 (26,121)119,901 
Total$247,866 $(44,024)$203,842 
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 securities 1,749 — (229)1,520 
Mortgage-backed / asset-backed securities156,352 — (29,470)126,882 
Total$260,145 $11 $(51,890)$208,266 
Summary of Investment Securities in a Loss Position
Investment securities in a loss position were as follows:
December 31, 2023December 31, 2022
Fair ValueGross unrealized lossesFair ValueGross unrealized losses
Greater than 12 continuous months
Government and related securities$28,030 $7,018 $17,063 $2,753 
Corporate debt securities51,948 10,466 48,812 13,749 
Mortgage-backed / asset-backed securities119,901 26,121 114,839 28,040 
Total$199,879 $43,605 $180,714 $44,542 
Less than 12 continuous months
Government and related securities$— $— $10,061 $5,457 
Corporate debt securities2,382 212 3,508 232 
Commingled fixed income securities1,581 207 1,520 229 
Mortgage-backed / asset-backed securities— — 12,042 1,430 
Total$3,963 $419 $27,131 $7,348 
Summary of Available-For-Sale Securities
At December 31, 2023, scheduled maturities of available-for-sale securities were as follows:
Amortized costEstimated fair value
Within 1 year$2,594 $2,382 
After 1 year through 5 years15,103 14,029 
After 5 years through 10 years70,702 60,099 
After 10 years159,467 127,332 
Total$247,866 $203,842 
Summary of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value of our derivative instruments was as follows:
December 31,
Designation of DerivativesBalance Sheet Location20232022
Derivatives designated as hedging instruments  
Foreign exchange contractsOther current assets and prepayments$— $15 
Accounts payable and accrued liabilities— (23)
Interest rate swapsOther current assets and prepayments8,425 — 
Other assets
— 15,283 
Derivatives not designated as hedging instruments  
Foreign exchange contractsOther current assets and prepayments— 464 
 Accounts payable and accrued liabilities— (1,449)
 Total derivative assets8,425 15,762 
 Total derivative liabilities— (1,472)
 Total net derivative asset$8,425 $14,290 
Summary of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following represents the results of cash flow hedging relationships:
 Years Ended December 31,
 Derivative Gain (Loss)
Recognized in AOCI
(Effective Portion)		Location of Gain (Loss)
(Effective Portion)		Gain (Loss) Reclassified
from AOCI to Earnings
(Effective Portion)
Derivative Instrument2023202220232022
Foreign exchange contracts$(25)$159 
Cost of sales
$(33)$178 
Interest rate swaps(6,858)12,180 
Interest expense
9,708 549 
 $(6,883)$12,339  $9,675 $727 
Summary of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following represents the mark-to-market adjustment on our non-designated derivative instruments:
  Years Ended December 31,
  Derivative Gain (Loss)
Recognized in Earnings
Derivatives InstrumentLocation of Derivative Gain (Loss)20232022
Foreign exchange contractsSelling, general and administrative expense$3,551 $(28,228)
Summary of Fair Value, by Balance Sheet Grouping The carrying value and estimated fair value of our debt was as follows:
December 31,
20232022
Carrying value$2,146,032 $2,205,266 
Fair value$1,893,620 $1,856,878