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Fair Value of Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions The following table presents the notional contract amounts for forward contracts outstanding:

 
 
 
As of
 
FASB ASC Topic 815 Designation
 
March 31, 2019
 
December 31, 2018
Forward exchange contracts
Cash flow hedge
 
$
155,730

 
$
155,313

Forward exchange contracts
Non-designated
 
42,977

 
39,631
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) Foreign exchange contracts designated as cash flow hedges had the following effects on accumulated other comprehensive income (loss) and net earnings on our consolidated condensed statement of comprehensive income and our consolidated condensed balance sheet:
 
 
Amount of Gain (Loss) Recognized in AOCI
 
Statement of Consolidated Condensed of Comprehensive Income
 
Amount of Gain (Loss) Reclassified from AOCI
 
 
Three Months Ended March 31,
 
 
 
Three Months Ended March 31,
Three Months Ended March 31,
 
 
 
 
 
 
 
 
Total Amount of Line Item Presented
 
 
 
 
Derivative Instrument
 
2019
 
2018
 
Location of amount reclassified
 
2019
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
$
1,738

 
$
829

 
Net Sales
 
$
218,378

$
202,064

 
$
1,497

 
$
(1,413
)
 
 
 
 
 

 
Cost of Sales
 
96,940

92,507

 
101

 
151

Pre-tax gain (loss)
 
$
1,738

 
$
829

 
 
 
 
 
 
$
1,598

 
$
(1,262
)
Tax expense (benefit)
 
420

 
200

 
 
 
 
 
 
386

 
(305
)
Net gain (loss)
 
$
1,318

 
$
629

 
 
 
 
 
 
$
1,212

 
$
(957
)
Derivatives Not Designated as Hedging Instruments Net gains and losses from derivative instruments not accounted for as hedges offset by gains and losses on our intercompany receivables on our condensed consolidated statements of earnings were:

 
 
 
 
Three Months Ended March 31,
Derivative Instrument
 
Location on Consolidated Condensed Statement of Comprehensive Income
 
2019
 
2018
 
 
 
 
 
 
 
Net gain (loss) on currency hedge contracts
 
Selling and administrative expense
 
$
(181
)
 
$
(69
)
Net gain (loss) on currency transaction exposures
 
Selling and administrative expense
 
$
(229
)
 
$
(127
)
Schedule of Fair Value for Forward Foreign Exchange Contracts The following tables summarize the fair value for forward foreign exchange contracts outstanding at March 31, 2019 and December 31, 2018:
March 31, 2019
Location on Condensed Balance Sheet
Asset Fair Value
 
Liabilities Fair Value
 
Net
Fair
Value
Derivatives designated as hedged instruments:
 
 
 
 
 
 
Foreign exchange contracts
Prepaids and other current assets
$
5,291

 
$
(65
)
 
$
5,226

Foreign exchange contracts
Other long-term assets
428

 
(128
)
 
300

 
 
$
5,719

 
$
(193
)
 
$
5,526

 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 

 
 

 
 

Foreign exchange contracts
Prepaids and other current assets
14

 
(102
)
 
(88
)
 
 
 
 
 
 


Total derivatives
 
$
5,733

 
$
(295
)
 
$
5,438

December 31, 2018
Location on Condensed Balance Sheet
Asset Fair Value
 
Liabilities Fair Value
 
Net
Fair
Value
Derivatives designated as hedged instruments:
 
 
 
 
 
 
Foreign exchange contracts
Prepaids and other current assets
$
5,817

 
$
(431
)
 
$
5,386

 
 
 
 
 
 
 
Derivatives not designated as hedging instruments:
 
 

 
 

 
 
Foreign exchange contracts
Prepaids and other current assets
19

 
(217
)
 
(198
)
 
 
 
 
 
 
 
Total derivatives
 
$
5,836

 
$
(648
)
 
$
5,188