DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets

Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022

		June 30, 2023				December 31, 2022
	Balance Sheet Location	Derivatives Designated as Hedging Instruments		Derivatives not Designated as Hedging Instruments		Derivatives Designated as Hedging Instruments		Derivatives not Designated as Hedging Instruments
Derivative Assets
Foreign Exchange Contracts	Prepaid and other	$	—	$	953	$	—	$	1,107
		$	—	$	953	$	—	$	1,107
Derivative Liabilities
Foreign Exchange Contracts	Accounts payable, accrued and other liabilities	$	—	$	909	$	—	$	269
Cross Currency Swap Contract (1)	Accounts payable, accrued and other liabilities	15,636		—		8,840		—
		$	15,636	$	909	$	8,840	$	269

__________________________

(1)This cross currency swap agreement is composed of both an interest component and a foreign exchange component.

Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

The Effect of Derivatives Designated as Hedging Instruments on Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended June 30, 2023 and 2022

Derivatives Designated as Hedging Instruments	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative				Location of (Loss) Gain Recognized in Income on Derivatives	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income on Derivative				Total Amount of Affected Income Statement Line Item
	2023		2022			2023		2022
Cross currency swap agreement:
Interest component	$	—	$	651	Interest expense	$	—	$	118	$	(9,688)
Foreign exchange component	3,763		3,042		Miscellaneous, net	—		3,042		(173)
	$	3,763	$	3,693		$	—	$	3,160

The Effect of Derivatives Designated as Hedging Instruments on Accumulated Other Comprehensive Income (Loss) for the Six Months Ended June 30, 2023 and 2022

Derivatives Designated as Hedging Instruments	Amount of Gain Recognized in Other Comprehensive Income on Derivative				Location of Gain Recognized in Income on Derivatives	Amount of Gain Reclassified from Accumulated Other Comprehensive Income on Derivative				Total Amount of Affected Income Statement Line Item
	2023		2022			2023		2022
Cross currency swap agreement:
Interest component	$	—	$	259	Interest expense	$	—	$	138	$	(19,916)
Foreign exchange component	(5,131)		4,626		Miscellaneous, net	—		4,626		(1,344)
	$	(5,131)	$	4,885		$	—	$	4,764

Schedule of Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended June 30, 2023 and 2022

Derivatives Not Designated as Hedging Instruments	Location of (Loss) Gain Recognized in Income on Derivatives	Amount of (Loss) Gain Recognized in Income on Derivatives
		2023		2022
Foreign Exchange Contracts	Other (Expense) Income: Miscellaneous, net	$	59	$	1,991
		$	59	$	1,991

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Six Months Ended June 30, 2023 and 2022

Derivatives Not Designated as Hedging Instruments	Location of Loss Recognized in Income on Derivatives	Amount of Loss Recognized in Income on Derivatives
		2023		2022
Foreign Exchange Contracts	Other (Expense) Income: Miscellaneous, net	$	(800)	$	(109)
		$	(800)	$	(109)

Schedule of offsetting derivative assets and liabilities

			Gross Amounts Offset in the Statement of Financial Position	Net Amounts Presented in the Statement of Financial Position		Gross Amounts not Offset in the Statement of Financial Position
	Gross Amount					Financial Instruments	Cash Collateral Received	Net Amount
June 30, 2023
Derivative Assets	$	953	—	$	953	—	—	$	953
Total Assets	$	953	—	$	953	—	—	$	953
Derivative Liabilities	$	16,545	—	$	16,545	—	—	$	16,545
Total Liabilities	$	16,545	—	$	16,545	—	—	$	16,545
December 31, 2022
Derivative Assets	$	1,107	—	$	1,107	—	—	$	1,107
Total Assets	$	1,107	—	$	1,107	—	—	$	1,107
Derivative Liabilities	$	9,109	—	$	9,109	—	—	$	9,109
Total Liabilities	$	9,109	—	$	9,109	—	—	$	9,109