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DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2020

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 Condensed Consolidated Balance Sheets follow:

		March 31, 2020																December 31, 2019
Derivatives by hedge designation		Other Current Assets				Other Current Liabilities				Other Assets				Other Liabilities				Other Current Assets				Other Current Liabilities				Other Assets				Other Liabilities
Designated as hedging instruments:
Foreign exchange contracts		$	1,184			$	5,267			$	—			$	—			$	1,288			$	522			$	—			$	—
Interest rate swap agreements		—				—				—				—				—				—				2,964				—
Forward starting swap agreement		—				—				—				352				—				—				—				—
Cross currency swap agreements		—				—				1,398				—				—				—				—				653
Not designated as hedging instruments:
Foreign exchange contracts		9,284				1,043				—				—				2,397				973				—				—
Total derivatives		$	10,468			$	6,310			$	1,398			$	352			$	3,685			$	1,495			$	2,964			$	653

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 Income consisted of the following:

				Three Months Ended March 31,
Derivatives by hedge designation		Classification of gain (loss)		2020				2019
Foreign exchange contracts		Selling, general & administrative expenses		$	(22,133	)		$	5,407

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 Income consisted of the following:

Total gain (loss) recognized in AOCI, net of tax		March 31, 2020				December 31, 2019
Foreign exchange contracts		$	(3,084	)		$	620
Forward starting swap agreement		(264		)		—
Net investment contracts		2,605				1,006

The Company expects a loss of $3,084 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) recognized in the Consolidated Statements of Income:		2020				2019
Foreign exchange contracts		Sales		$	(62	)		$	388
		Cost of goods sold		122				97

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- Definition

Effects of designated fair value hedges and undesignated derivative instruments on the entity's Consolidated Statements of Income.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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