Derivatives (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on a gross basis is as follows (in thousands):

Fair Value of Derivative Instruments Designated as Hedging Instruments	Balance Sheet Location	December 31, 2023		December 31, 2022
Assets
Interest rate swap	Prepaid expenses and other assets	$	1,503	$	—
Interest rate swap	Other assets (long-term)		—		3,444
Foreign currency forward contracts	Prepaid expenses and other assets		2,061		3,215
Foreign currency forward contracts	Other assets (long-term)		216		56
(Liabilities)
Foreign currency forward contracts	Accrued expenses		(1,898)		(1,509)
Foreign currency forward contracts	Other long-term obligations		(499)		(531)
Fair Value of Derivative Instruments Not Designated as Hedging Instruments	Balance Sheet Location	December 31, 2023		December 31, 2022
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	828	$	1,512
(Liabilities)
Foreign currency forward contracts	Accrued expenses		(1,463)		(1,946)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income ("OCI") in our consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

	Amount of Gain/(Loss)
	Recognized in OCI
	Year Ended December 31,
Derivative instrument	2023		2022		2021
Interest rate swaps	$	609	$	4,879	$	1,402
Foreign currency forward contracts		3,909		6,263		(1,521)

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on AOCI and net earnings in our consolidated statements of income, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

	Consolidated Statements						Amount of Gain/(Loss)
	of Income						reclassified from AOCI
	Year Ended December 31,						Year ended December 31,
Location in statements of income	2023			2022	2021		2023		2022		2021
Interest expense	$	(15,511)	$	(6,339)	$	(5,261)	$	2,550	$	(12)	$	(1,509)
Revenue		1,257,366		1,150,981		1,074,751		4,081		3,583		(5,592)
Cost of sales		(673,494)		(631,882)		(589,418)		1,457		(1,436)		1,017

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the years presented (in thousands):

		Year ended December 31,
Derivative Instrument	Location in statements of income	2023		2022		2021
Foreign currency forward contracts	Other income (expense) — net	$	2,004	$	1,420	$	(1,598)