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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2024

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of fair value of derivative instruments

​

​	​	​	​	​	​	​	​	​
​		Fair value
​	​	March 31,			December 31,			​
Derivatives designated as hedging instruments	​	2024		​	2023		​	Balance Sheet location
Assets:		​			​		​
Commodity contracts	​	$	2,379	​	$	4,480	​	Accounts receivable, net
Commodity contracts	​	$	332	​	$	316	​	Other assets
Liabilities:	​		​	​			​
Commodity contracts	​	$	(432)	​	$	(386)	​	Accrued liabilities

​

​	​	​	​	​	​	​	​	​
​		Fair value
​	​	March 31,			December 31,			​
Derivatives not designated as hedging instruments	​	2024		​	2023		​	Balance Sheet location
Assets:		​			​		​
Foreign currency exchange contracts	​	$	602	​	$	138	​	Accounts receivable, net
Liabilities:	​			​			​
Foreign currency exchange contracts	​	$	(1,193)	​	$	(1,221)	​	Accrued liabilities

Schedule of changes in the fair values of derivatives designated as cash flow hedges had on other comprehensive income ("OCI"), AOCI and earnings

​

​	​	​	​	​	​	​	​	​
Three-months ended March 31, 2024
Derivatives		​	​		​		Gain (loss)
designated as	​	Gain (loss) recognized		​	Location of gain (loss)	​	reclassified from
hedging instruments	​	in AOCI		​	recognized in income	​	AOCI into income
Commodity contracts	​	$	2,279		Cost of sales	​	$	(966)

​

Schedule of net gains (losses) on derivative instruments in the consolidated statements of income

​

​	​	​	​	​	​	​	​	​
​	​	​	​	Gain (loss)
​	​	​	​	recognized in income on
​	​	​	​	derivatives
​	​	​	​	Three-months ended
Derivatives not designated as	​	Location of gain (loss)	​	March 31,		​	March 31,
hedging instruments		recognized in income on derivatives		2024			2023
Foreign currency exchange contracts		Interest and other income, net	​	$	5,343	​	$	(7,852)

​

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

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