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Derivative Financial Instruments and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Outstanding Interest Rate Swaps | The following table contains information on the outstanding interest rate swaps as of December 31, 2017:
Outstanding Interest Rate Swaps (a)
Date Entered Into | Term | Notional Amount | Related Debt Facility | Fixed Rate of Swap | Bank Margin on Debt | Total Effective Interest Rate (b)
August 2015 | 9 years |  | $170,000 |  | Term Credit Agreement | 2.20 | % | 1.63 | % | 3.83 | %
August 2015 | 9 years | 180,000 |  | Term Credit Agreement | 2.35 | % | 1.63 | % | 3.98 | %
April 2016 | 10 years | 100,000 |  | Incremental Term Loan | 1.60 | % | 1.90 | % | 3.50 | %
April 2016 | 10 years | 100,000 |  | Incremental Term Loan | 1.60 | % | 1.90 | % | 3.50 | %
July 2016 | 10 years | 100,000 |  | Incremental Term Loan | 1.26 | % | 1.90 | % | 3.16 | %
(a) | All interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting.
(b) | Rate is before estimated patronage payments.
Schedule of derivatives on the Consolidated Statements of Income and Comprehensive Income | The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2017, 2016 and 2015.
| Location on Statement of Income and Comprehensive Income |  | 2017 |  | 2016 |  | 2015
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Foreign currency exchange contracts | Other comprehensive income (loss) |  |  | $2,100 |  |  |  | $867 |  |  |  | ($205 | )
Foreign currency option contracts | Other comprehensive income (loss) |  | (52 | ) |  | 1,035 |  |  | 370 |
Interest rate swaps | Other comprehensive income (loss) |  | 4,214 |  |  | 21,422 |  |  | (10,197 | )
Derivatives designated as a net investment hedge: |  |  |  |  |  |  |
Foreign currency exchange contract | Other comprehensive income (loss) |  | — |  |  | — |  |  | 2,875 |
Foreign currency option contracts | Other comprehensive income (loss) |  | — |  |  | (4,606 | ) |  | 4,606 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign currency exchange contracts | Other operating (income) expense, net |  | — |  |  | 895 |  |  | — |
| Interest income and miscellaneous income (expense), net |  | 47 |  |  | — |  |  | — |
Foreign currency option contracts | Other operating (income) expense, net |  | — |  |  | 258 |  |  | 1,394 |
Interest rate swaps | Interest income and miscellaneous income (expense), net |  | — |  |  | (1,219 | ) |  | (4,391 | )
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2017 and 2016:
| Notional Amount
| 2017 |  | 2016
Derivatives designated as cash flow hedges: |  |  |
Foreign currency exchange contracts |  | $107,400 |  |  |  | $44,800 |
Foreign currency option contracts | 48,000 |  |  | 91,000 |
Interest rate swaps | 650,000 |  |  | 650,000 |
Derivatives not designated as hedging instruments: |  |  |
Foreign currency exchange contracts | 18,439 |  |  | — |
Schedule of Derivative Instruments in Statement of Financial Position | The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2017 and 2016. Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows.
|  |  | Fair Value Assets (Liabilities) (a)
| Location on Balance Sheet |  | 2017 |  | 2016
Derivatives designated as cash flow hedges: |  |  |  |  |
Foreign currency exchange contracts | Other current assets |  |  | $2,286 |  |  |  | $692 |
| Other assets |  | 538 |  |  | 33 |
| Other current liabilities |  | (37 | ) |  | (261 | )
Foreign currency option contracts | Other current assets |  | 389 |  |  | 1,064 |
| Other assets |  | 137 |  |  | 327 |
| Other current liabilities |  | (119 | ) |  | (574 | )
| Other non-current liabilities |  | (55 | ) |  | (426 | )
Interest rate swaps | Other assets |  | 17,473 |  |  | 17,204 |
| Other non-current liabilities |  | (2,033 | ) |  | (5,979 | )
Derivatives not designated as hedging instruments: |  |  |  |  |
Foreign currency exchange contracts | Other current assets |  | 209 |  |  | — |
| Other current liabilities |  | (189 | ) |  | — |
Total derivative contracts: |  |  |  |  |
Other current assets |  |  | $2,884 |  |  |  | $1,756 |
Other assets |  | 18,148 |  |  | 17,564 |
Total derivative assets |  |  | $21,032 |  |  |  | $19,320 |
Other current liabilities |  | (345 | ) |  | (835 | )
Other non-current liabilities |  | (2,088 | ) |  | (6,405 | )
Total derivative liabilities |  |  | ($2,433 | ) |  |  | ($7,240 | )
(a) | See Note 14 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.

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