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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 6 Months Ended
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Jun. 30, 2024
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES |
Schedule of fair value of derivative instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair value |  |
Derivatives designated as | ​ | June 30, |  | December 31, |  | ​
hedging instruments | ​ | 2024 | ​ | 2023 | ​ | Balance Sheet location
Assets: |  | ​ |  |  | ​ |  | ​ |
Commodity contracts | ​ | $ | 7,450 | ​ | $ | 4,480 | ​ | Accounts receivable, net
Commodity contracts | ​ | $ | — | ​ | $ | 316 | ​ | Other assets
Liabilities: | ​ |  | ​ | ​ |  |  | ​ |
Commodity contracts | ​ | $ | (1,491) | ​ | $ | (386) | ​ | Accrued liabilities
Commodity contracts | ​ | $ | (359) | ​ | $ | — | ​ | Other liabilities
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Fair value |  |
Derivatives not designated as | ​ | June 30, |  | December 31, |  | ​
hedging instruments | ​ | 2024 | ​ | 2023 | ​ | Balance Sheet location
Assets: |  | ​ |  |  | ​ |  | ​ |
Foreign currency exchange contracts | ​ | $ | 1,210 | ​ | $ | 138 | ​ | Accounts receivable, net
Liabilities: | ​ |  | ​ | ​ |  |  | ​ |
Foreign currency exchange contracts | ​ | $ | (1,424) | ​ | $ | (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 June 30, 2024
​ |  | ​ | ​ |  | ​ |  | Gain (loss)
Derivatives designated as | ​ | Gain (loss) | ​ | Location of gain (loss) | ​ | reclassified from
hedging instruments | ​ | recognized in AOCI | ​ | recognized in income | ​ | AOCI into income
Commodity contracts | ​ | $ | 6,205 |  | Cost of sales | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three-Months Ended June 30, 2023
​ | ​ | ​ | ​ | ​ |  | ​ | Gain (loss)
Derivatives designated as | ​ |  | Gain (loss) recognized | ​ | Location of gain (loss) | ​ | reclassified from
hedging instruments |  | in AOCI |  | recognized in income |  | AOCI into income
Commodity contracts | ​ | $ | (1,266) |  | Cost of sales | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six-Months Ended June 30, 2024
​ | ​ |  | ​ | ​ |  | ​ | Gain (loss)
Derivatives designated as | ​ | Gain (loss) | ​ | Location of gain (loss) | ​ | reclassified from
hedging instruments |  | recognized in AOCI |  | recognized in income |  | AOCI into income
Commodity contracts | ​ | $ | 8,483 |  | Cost of sales | ​ | $ | (966)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six-Months Ended June 30, 2023
​ |  | ​ | ​ |  | ​ |  | Gain (loss)
Derivatives designated as | ​ | Gain (loss) | ​ | Location of gain (loss) | ​ | reclassified from
hedging instruments | ​ | recognized in AOCI | ​ | recognized in income | ​ | AOCI into income
Commodity contracts | ​ | $ | (1,266) |  | Cost of sales | ​ | $ | —
​
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) | ​ | June 30, | ​ | June 30,
hedging instruments |  | recognized in income on derivatives |  | 2024 | ​ | 2023
Foreign currency exchange contracts |  | Interest and other income, net | ​ | $ | (2,633) | ​ | $ | (1,924)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Gain (loss) recognized
​ | ​ | ​ | ​ | in income on derivatives
​ | ​ | ​ | ​ | Six-Months Ended
Derivatives not designated as | ​ | Location of gain (loss) | ​ | June 30, | ​ | June 30,
hedging instruments |  | recognized in income on derivatives |  | 2024 |  | 2023
Foreign currency exchange contracts |  | Interest and other income, net | ​ | $ | 2,711 | ​ | $ | (9,775)
​

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