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DERIVATIVES (Tables) | 3 Months Ended
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Mar. 31, 2024
DERIVATIVES |
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | March 31, 2024 | ​ | December 31, 2023
​ | 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 | $ | 2,391 | ​ | $ | 238 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,548 | ​ | $ | 687 | ​ | $ | — | ​ | $ | —
Interest rate swap agreements |  | — | ​ |  | — | ​ | ​ | 2,649 | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | 1,460 | ​ |  | —
Forward starting swap agreements | ​ | — | ​ | ​ | — | ​ | ​ | 23,005 | ​ | ​ | 40 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,377 | ​ | ​ | —
Net investment contracts | ​ | 1,261 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,351 | ​ | ​ | — | ​ | ​ | —
Commodity contracts | ​ | 52 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 45 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Not designated as hedging instruments: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign exchange contracts |  | 1,617 | ​ | ​ | 998 | ​ | ​ | — | ​ | ​ | — | ​ |  | 4,063 | ​ |  | 623 | ​ |  | — | ​ |  | —
Total derivatives | $ | 5,321 | ​ | $ | 1,236 | ​ | $ | 25,654 | ​ | $ | 40 | ​ | $ | 5,656 | ​ | $ | 4,661 | ​ | $ | 21,837 | ​ | $ | —
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 (loss) gain |  | 2024 |  | 2023
Not designated as hedges: | ​ |  | ​ | ​ |  |  | ​ |
Foreign exchange contracts | ​ | Selling, general & administrative expenses | ​ | $ | (1,615) | ​ | $ | 6,690
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, 2024 |  | December 31, 2023 |
Foreign exchange contracts | ​ | $ | 1,628 | ​ | $ | 721 | ​
Interest rate swap agreements | ​ | ​ | 2,198 | ​ | ​ | 1,085 | ​
Forward starting swap agreements | ​ | ​ | 16,386 | ​ | ​ | 14,696 | ​
Net investment contracts | ​ | ​ | 9,089 | ​ |  | 7,136 | ​
Commodity contracts | ​ |  | 39 | ​ |  | 34 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Three Months Ended March 31,
​ | ​ | Gain recognized in the | ​ | ​ | ​ | ​ | ​ | ​
Derivative type |  | Consolidated Statements of Income: |  | 2024 |  | 2023
Foreign exchange contracts |  | Sales | ​ | $ | 839 | ​ | $ | 1,206
​ |  | Cost of goods sold | ​ |  | 232 | ​ |  | 3
Commodity contracts | ​ | Cost of goods sold | ​ | ​ | 2 | ​ | ​ | 179
​

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