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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

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						June 30, 2020						December 31, 2019
Forward exchange contracts			Cash flow hedge						$	122,556					$	156,818
Forward exchange contracts			Non-designated						37,901						33,867

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 statements of comprehensive income (loss) and our consolidated condensed balance sheets:

						Amount of Gain (Loss) Recognized in AOCI																		Consolidated Condensed Statements of Comprehensive Income (Loss)																								Amount of Gain (Loss) Reclassified from AOCI
						Three Months Ended June 30,
																								Total Amount of Line Item Presented
Derivative Instrument						2020						2019						Location of amount reclassified						2020			2019						2020						2019
Foreign exchange contracts						$	(3,279)					$	126					Net Sales						$	157,785		$	238,263					$	342					$	2,096
																		Cost of Sales						85,856			107,073						(418)						138
Pre-tax gain (loss)						$	(3,279)					$	126																				$	(76)					$	2,234
Tax expense (benefit)						(792)						30																					(18)						540
Net gain (loss)						$	(2,487)					$	96																				$	(58)					$	1,694

						Amount of Gain Recognized in AOCI																		Consolidated Condensed Statements of Comprehensive Income (Loss)																								Amount of Gain (Loss) Reclassified from AOCI
						Six Months Ended June 30,
																								Total Amount of Line Item Presented
Derivative Instrument						2020						2019						Location of amount reclassified						2020			2019						2020						2019
Foreign exchange contracts						$	1,015					$	1,864					Net Sales						$	371,796		$	456,641					$	1,543					$	3,593
																		Cost of Sales						180,707			204,013						(495)						239
Pre-tax gain						$	1,015					$	1,864																				$	1,048					$	3,832
Tax expense						245						450																					254						926
Net gain						$	770					$	1,414																				$	794					$	2,906

Derivatives Not Designated as Hedging Instruments

Net gains and losses from derivative instruments not accounted for as hedges and gains and losses on our intercompany receivables on our consolidated condensed statements of comprehensive income (loss) were:

												Three Months Ended June 30,																		Six Months Ended June 30,
Derivative Instrument						Location on Consolidated Condensed Statements of Comprehensive Income (Loss)						2020						2019						2020						2019
Net loss on currency forward contracts						Selling and administrative expense						$	(302)					$	(312)					$	(547)					$	(493)
Net gain (loss) on currency transaction exposures						Selling and administrative expense						$	22					$	67					$	(169)					$	(161)

Schedule of Fair Value for Forward Foreign Exchange Contracts

The following tables summarize the fair value for forward foreign exchange contracts outstanding at June 30, 2020 and December 31, 2019:

June 30, 2020			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			$	1,852					$	(1,738)					$	114
Foreign exchange contracts			Other long-term liabilities			375						(919)						(544)
						$	2,227					$	(2,657)					$	(430)
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities			27						(105)						(78)
Total derivatives						$	2,254					$	(2,762)					$	(508)

December 31, 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			$	2,307					$	(1,341)					$	966
Foreign exchange contracts			Other long-term liabilities			38						(353)						(315)
						$	2,345					$	(1,694)					$	651
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities			22						(159)						(137)
Total derivatives						$	2,367					$	(1,853)					$	514

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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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