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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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		September 30, 2019				December 31, 2018
Forward exchange contracts	Cash flow hedge		$	155,877			$	155,313
Forward exchange contracts	Non-designated		34,457				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								Consolidated Condensed Statements of Comprehensive Income									Amount of Gain (Loss) Reclassified from AOCI
		Three Months Ended September 30,										Three Months Ended September 30,							Three Months Ended September 30,
												Total Amount of Line Item Presented
Derivative Instrument		2019				2018				Location of amount reclassified		2019			2018				2019				2018
Foreign exchange contracts		$	4,887			$	1,710			Net Sales		$	233,590		$	202,307			$	2,241			$	(34	)
										Cost of Sales		103,479			91,680				120				181
Pre-tax gain		$	4,887			$	1,710												$	2,361			$	147
Tax expense		1,181				413													570				35
Net gain		$	3,706			$	1,297												$	1,791			$	112

		Amount of Gain (Loss) Recognized in AOCI								Consolidated Condensed Statements of Comprehensive Income									Amount of Gain (Loss) Reclassified from AOCI
		Nine Months Ended September 30,										Nine Months Ended September 30,							Nine Months Ended September 30,
												Total Amount of Line Item Presented
Derivative Instrument		2019				2018				Location of amount reclassified		2019			2018				2019				2018
Foreign exchange contracts		$	6,751			$	7,202			Net Sales		$	690,232		$	617,191			$	5,834			$	(1,862	)
										Cost of Sales		307,492			280,736				359				364
Pre-tax gain (loss)		$	6,751			$	7,202												$	6,193			$	(1,498	)
Tax expense (benefit)		1,631				1,740													1,496				(362		)
Net gain (loss)		$	5,120			$	5,462												$	4,697			$	(1,136	)

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 consolidated condensed statements of comprehensive income were:

				Three Months Ended September 30,								Nine Months Ended September 30,
Derivative Instrument		Location on Consolidated Condensed Statements of Comprehensive Income		2019				2018				2019				2018
Net gain (loss) on currency forward contracts		Selling and administrative expense		$	138			$	237			$	(355	)		$	565
Net gain (loss) on currency transaction exposures		Selling and administrative expense		$	(368	)		$	(459	)		$	(530	)		$	(1,172	)

Schedule of Fair Value for Forward Foreign Exchange Contracts

The following tables summarize the fair value for forward foreign exchange contracts outstanding at September 30, 2019 and December 31, 2018:

September 30, 2019	Location on Consolidated 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	$	5,336			$	(256	)		$	5,080
Foreign exchange contracts	Other long-term assets	935				(70		)		865
		$	6,271			$	(326	)		$	5,945
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Prepaids and other current assets	15				(124		)		(109		)
Total derivatives		$	6,286			$	(450	)		$	5,836

December 31, 2018	Location on Consolidated 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

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

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Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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