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v3.23.1

DERIVATIVES (Tables) | 3 Months Ended
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Mar. 31, 2023
DERIVATIVES |
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2023 | ​ | December 31, 2022
​ | 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 | $ | 3,678 | ​ | $ | 618 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,467 | ​ | $ | 738 | ​ | $ | — | ​ | $ | —
Interest rate swap agreements |  | — | ​ |  | — | ​ | ​ | 877 | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Forward starting swap agreements | ​ | — | ​ | ​ | — | ​ | ​ | 17,651 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 19,291 | ​ | ​ | —
Net investment contracts | ​ | — | ​ | ​ | 2,947 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,229 | ​ | ​ | — | ​ | ​ | —
Commodity contracts | ​ | 155 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 181 | ​ | ​ | 33 | ​ | ​ | — | ​ | ​ | —
Not designated as hedging instruments: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange contracts |  | 5,378 | ​ | ​ | 536 | ​ | ​ | — | ​ | ​ | — | ​ |  | 2,348 | ​ |  | 790 | ​ |  | — | ​ |  | —
Total derivatives | $ | 9,211 | ​ | $ | 4,101 | ​ | $ | 18,528 | ​ | $ | — | ​ | $ | 3,996 | ​ | $ | 3,790 | ​ | $ | 19,291 | ​ | $ | —
​
Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Three Months Ended March 31,
Derivatives by hedge designation |  | Classification of gain (loss) |  | 2023 |  | 2022
Not designated as hedges: | ​ |  | ​ | ​ |  |  | ​ |
Foreign exchange contracts | ​ | Selling, general & administrative expenses | ​ | $ | 6,690 | ​ | $ | 1,897
​
Schedule of effects of designated cash flow hedges on AOCI and the entity's Consolidated Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | ​ | ​ |
Total gain recognized in AOCI, net of tax |  | March 31, 2023 |  | December 31, 2022 |
Foreign exchange contracts | ​ | $ | 1,769 | ​ | $ | 627 | ​
Interest rate swap agreements | ​ | ​ | 656 | ​ | ​ | — | ​
Forward starting swap agreements | ​ | ​ | 11,950 | ​ | ​ | 13,191 | ​
Net investment contracts | ​ | ​ | 8,599 | ​ |  | 9,440 | ​
Commodity Contracts | ​ |  | 66 | ​ |  | 91 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Three Months Ended March 31,
​ | ​ | Gain (loss) recognized in the | ​ | ​ | ​ | ​ | ​ | ​
Derivative type |  | Consolidated Statements of Income: |  | 2023 |  | 2022
Foreign exchange contracts |  | Sales | ​ | $ | 1,206 | ​ | $ | 180
​ |  | Cost of goods sold | ​ |  | 3 | ​ |  | (455)
Commodity contracts | ​ | Cost of goods sold | ​ | ​ | 179 | ​ | ​ | —

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