XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Derivative Financial Instruments | 9 Months Ended
--- | ---
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS Derivative instruments – The Company's primary market exposures are to interest rates and foreign exchange rates. The Company from time to time may use certain derivative financial instruments to help manage these exposures. The Company executes these instruments with financial institutions it judges to be credit-worthy. The Company does not hold or issue derivative financial instruments for trading or speculative purposes. The Company recognizes all derivative financial instruments as either assets or liabilities at fair value in the consolidated balance sheets. During the second quarter of 2018, the Company entered into foreign currency forward contracts to hedge the value of intercompany dividends declared in Euros by the Company's German subsidiary. The dividends were paid in the second and third quarters of 2018. These contracts were not designated as hedging instruments for accounting purposes. There are no foreign currency forward contracts outstanding at September 30, 2018. The Company also has an interest rate swap that is classified as a cash flow hedge of its variable rate debt. The fair value amounts in the consolidated balance sheets were:
|  | Notional Amounts1 |  |  |  | Other Assets |  |  |  | Other Current Liabilities |  |  |  |  |  |
|  | September 30, |  | December 31, |  | September 30, |  | December 31, |  | September 30, |  | December 31, |  |  |  |
|  | 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017 |  |  |  |
| Derivative designated as a cash flow hedge: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swap | $ | 21,078 |  | $ | 21,969 |  | $ | 13 |  | $ | 16 |  | $ | — |  | $ | — |  |  |  |
(1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. Gains associated with derivative instruments not designated as hedging instruments are as follows:
|  |  |  | Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
|  | Classification |  | 2018 |  | 2017 |  | 2018 |  | 2017
Gain (loss) recognized in income |  | Gain (loss) on foreign exchange |  | $ | 1,169 |  | $ | — |  | $ | (19) |  | $ | —
The following table reflects the effect of the interest rate swap contract designated as a cash flow hedging instrument in the Company's financial statements:
| Three Months Ended September 30, |  |  |  | Nine Months Ended September 30, |  |
| 2018 |  | 2017 |  | 2018 |  | 2017
Effective portion recognized in other comprehensive income, pretax: |  |  |  |  |  |  |
Interest rate swap | $ | (5) |  | $ | (7) |  | $ | (3) |  | $ | (47)

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 The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration