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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2025

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of fair value of derivative instruments

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​	​	​	​	​	​	​	​	​
​		Fair value
Derivatives designated as	​	March 31,			December 31,			​
hedging instruments	​	2025		​	2024		​	Balance Sheet location
Assets:		​			​		​
Commodity contracts	​	$	4,699	​	$	1,884	​	Accounts receivable, net
Commodity contracts	​	$	87	​	$	6	​	Other assets
Foreign currency exchange contracts	​	$	25	​	$	—	​	Prepaid expenses and other current assets
Liabilities:	​		​	​			​
Commodity contracts	​	$	(2,411)	​	$	(2,644)	​	Accrued liabilities
Commodity contracts	​	$	(56)	​	$	(31)	​	Other liabilities
Foreign currency exchange contracts	​	$	(113)	​	$	—	​	Accrued liabilities

​

​	​	​	​	​	​	​	​	​
​		Fair value
Derivatives not designated as	​	March 31,			December 31,			​
hedging instruments	​	2025		​	2024		​	Balance Sheet location
Assets:		​			​		​
Foreign currency exchange contracts	​	$	2,743	​	$	4,107	​	Accounts receivable, net
Liabilities:	​		​	​			​
Foreign currency exchange contracts	​	$	(1,578)	​	$	(3,308)	​	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

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​	​	​	​	​	​	​	​	​
Three-Months Ended March 31, 2025
​		​	​		​		Gain (loss)
Derivatives designated as	​	Gain (loss)		​	Location of gain (loss)	​	reclassified from
hedging instruments	​	recognized in OCI		​	recognized in income	​	AOCI into income
Commodity contracts	​	$	4,312		Cost of sales	​	$	1,742

​

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

​

Schedule of net investment hedges, notional values and pretax impact of changes in fair value

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Notional Values

Gain (loss) recognized in OCI

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as of

Three-Months Ended

Derivatives designated as

March 31,

December 31,

March 31,

March 31,

hedging instruments

​

2025

​

2024

​

2025

​

2024

Foreign currency exchange contracts

​

$

25,940

​

$

—

​

$

(88)

​

$

—

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

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​	​	​	​	​	​	​	​	​
​	​	​	​	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		2025			2024
Foreign currency exchange contracts		Interest and other income, net	​	$	(3,833)	​	$	5,343

​

X

- Definition

Tabular disclosure for net investment hedges notional values and pretax impact of changes in fair value.

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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
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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.

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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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-Topic 815
-SubTopic 10
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-Paragraph 4E
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