Company: ALGN
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001097149-25-000034
Chunk: 47

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 47
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10 

Derivatives Not Designated as Hedging InstrumentsWe enter into foreign currency forward contracts to minimize the short-term impact of foreign currency exchange rate fluctuations on certain assets and liabilities. These forward contracts are classified within Level 2 of the fair value hierarchy. As a result of the settlement of foreign currency forward contracts, we recognized a net loss of $11.5 million and a net gain of $19.7 million, during the three months ended March 31, 2025 and 2024, respectively. Recognized gains and losses from the settlement of foreign currency forward contracts are recorded to Other income (expense), net in our Condensed Consolidated Statements of Operations. As of March 31, 2025 and December 31, 2024, the fair value of outstanding foreign exchange forward contracts was not material.The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of March 31, 2025 and December 31, 2024 (in thousands):March 31, 2025Local Currency AmountNotional Contract Amount (USD)Euro€166,020$179,590 Canadian DollarC$95,30066,393 Polish ZlotyPLN199,20051,328 British Pound£34,50044,598 Chinese Yuan¥260,00035,862 Japanese Yen¥3,300,00022,105 Israeli ShekelILS80,600 21,646 Brazilian RealR$101,80017,605 Swiss FrancCHF9,30010,567 Australian DollarA$5,4003,369 Czech KorunaKč76,8003,321 New Taiwan DollarNT$66,0001,991 New Zealand DollarNZ$3,0001,700 Korean Won₩2,430,0001,654 $461,729 December 31, 2024Local Currency AmountNotional Contract Amount (USD)Euro€176,080$183,172 Polish ZlotyPLN283,00068,633 Canadian DollarC$97,00067,446 British Pound£37,60047,090 Israeli ShekelILS90,05524,740 Chinese Yuan¥164,50022,417 Brazilian RealR$83,10013,327 Japanese Yen¥2,000,00012,778 Swiss FrancCHF5,