DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets

Fair values of derivative instruments in the Company’s Consolidated Balance Sheets follow:



	March 31, 2016				December 31, 2015
Derivatives by hedge designation	Other Current Assets		Other Current Liabilities		Other Current Assets		Other Current Liabilities
Designated as hedging instruments:
Foreign exchange contracts	$	1,268	$	708	$	178	$	731
Not designated as hedging instruments:
Foreign exchange contracts	9,821		2,021		625		2,303
Commodity contracts	3		32		40		8
Total derivatives	$	11,092	$	2,761	$	843	$	3,042

Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income

The effects of undesignated derivative instruments on the Company’s Consolidated Statements of Operations for the three months ended March 31, 2016 and 2015 consisted of the following:



		Three Months Ended March 31,
Derivatives by hedge designation	Classification of gain (loss)	2016			2015
Not designated as hedges:
Foreign exchange contracts	Selling, general & administrative expenses	$	3,597		$	(9,604	)
Commodity contracts	Cost of goods sold	(369		)	(144		)

Schedule of effects of designated hedges on AOCI and the entity's Consolidated Statements of Income

The effects of designated hedges on AOCI and the Company’s Consolidated Statements of Operations consisted of the following:



Total gain (loss) recognized in AOCI, net of tax	March 31, 2016		December 31, 2015
Foreign exchange contracts	$	285	$	(551	)
Net investment contracts	1,099		1,099

The Company expects a gain of $285 related to existing contracts to be reclassified from AOCI, net of tax, to earnings over the next 12 months as the hedged transactions are realized.



		Three Months Ended March 31,
Derivative type	Gain (loss) reclassified from AOCI to:	2016			2015
Foreign exchange contracts	Sales	$	(787	)	$	(529	)
	Cost of goods sold	(76		)	307