XML 38 R28.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Derivative Instruments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments, Gain (Loss) | The effects of fair value and cash flow hedge accounting on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the six months ended June 30, were as follows:
| 2024 |  | 2023 |
(in thousands) | Cost of sales | Interest income (expense), net and other finance costs | Other & foreign exchange loss, net |  | Cost of sales | Interest income (expense), net and other finance costs | Other & foreign exchange loss, net |
Total amounts of income and expense line items presented in the Condensed Consolidated Statement of Earnings in which the effects of fair value or cash flow hedges are recorded | $ | 604,456 |  | $ | 2,443 |  | $ | 381 |  |  | $ | 591,669 |  | $ | (1,274) |  | $ | (42) |  |
The effects of fair value and cash flow hedging |  |  |  |  |  |  |  |
| Gain or (loss) on cash flow hedging relationships |  |  |  |  |  |  |  |
|  | Interest contracts: |  |  |  |  |  |  |  |
|  |  | Amount of gain or (loss) reclassified from OCI to earnings | — |  | 6,236 |  | — |  |  | — |  | 7,107 |  | — |  |
|  | Cross currency swap contract |  |  |  |  |  |  |  |
|  |  | Amount of gain or (loss) reclassified from OCI to earnings | — |  | 2,535 |  | 14,484 |  |  | — |  | 2,605 |  | (5,244) |  |
|  | Forward contract |  |  |  |  |  |  |  |
|  |  | Amount of gain reclassified from OCI to earnings | (188) |  | — |  | — |  |  | 80 |  | — |  | — |  |
The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the three months ended June 30, 2024 and 2023 were as follows:
Cash Flow Hedging Relationships | Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Reclassified from OCI into Earnings | Gain (Loss) Reclassified from OCI into Earnings
(in thousands) | 2024 | 2023 |  |  | 2024 | 2023
Interest rate contracts | $ | 2,367 |  | $ | 10,589 |  |  | Interest expense | $ | 3,089 |  | $ | 3,911 |
Cross currency contracts | 5,358 |  | (5,739) |  |  | Interest expense | 1,295 |  | 1,266 |
Forward contracts | — |  | (413) |  |  | FX gain (loss) | 4,344 |  | (3,429) |
|  |  |  | Cost of goods sold | — |  | 80 |
Total | $ | 7,725 |  | $ | 4,437 |  |  |  | $ | 8,728 |  | $ | 1,828 |
The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the six months ended June 30, 2024 and 2023 were as follows:

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration