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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

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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- References

No definition available.

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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

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

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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

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
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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
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