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DERIVATIVES (Tables)
9 Months Ended
Sep. 30, 2022
DERIVATIVES  
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets

September 30, 2022

December 31, 2021

Other

Other

Other

Other

Current

Current

Other

Other

Current

Current

Other

Other

Derivatives by hedge designation

Assets

    

Liabilities

    

Assets

    

Liabilities

    

Assets

    

Liabilities

    

Assets

    

Liabilities

Designated as hedging instruments:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Foreign exchange contracts

$

2,039

$

508

$

$

$

772

$

535

$

$

Forward starting swap agreements

19,479

6,990

Net investment contracts

13,394

2,718

2,095

608

Commodity contracts

547

311

Not designated as hedging instruments:

 

 

 

 

 

  

Foreign exchange contracts

 

1,684

3,394

 

4,656

 

3,445

 

 

Total derivatives

$

17,117

$

4,449

$

22,197

$

$

7,834

$

3,980

$

6,990

$

608

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

    

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

Derivatives by hedge designation

    

Classification of gain (loss)

    

2022

    

2021

    

2022

    

2021

Not designated as hedges:

  

  

 

  

  

 

  

Foreign exchange contracts

Selling, general
& administrative expenses

$

(3,374)

$

(878)

$

(2,836)

$

5,000

Commodity Contracts

Cost of goods sold

(319)

(40)

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

    

    

Total gain (loss) recognized in AOCI, net of tax

    

September 30, 2022

    

December 31, 2021

    

Foreign exchange contracts

$

1,325

$

284

Forward starting swap agreements

14,133

5,232

Net investment contracts

15,000

 

2,339

Commodity Contracts

 

(282)

 

239

    

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

Gain (loss) recognized in the

Derivative type

    

Consolidated Statements of Income:

    

2022

    

2021

    

2022

    

2021

Foreign exchange contracts

 

Sales

$

229

$

439

$

590

$

2,303

 

Cost of goods sold

 

573

 

(44)

 

1,202

 

(1,018)

Commodity contracts

Cost of goods sold

(319)

(40)