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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021						December 31, 2020
Forward exchange contracts			Cash flow hedge						$	178,908					$	154,504
Forward exchange contracts			Non-designated						37,254						42,380

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) ("AOCI") 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 September 30,
																								Total Amount of Line Item Presented
Derivative Instrument						2021						2020						Location of amount reclassified						2021			2020						2021						2020
Foreign exchange contracts						$	3,188					$	(3,542)					Net Sales						$	248,827		$	237,835					$	(1,077)					$	663
																		Cost of Sales						106,521			104,137						419						(215)
Pre-tax gain (loss)						$	3,188					$	(3,542)																				$	(658)					$	448
Tax expense (benefit)						770						(856)																					(159)						108
Net gain (loss)						$	2,418					$	(2,686)																				$	(499)					$	340

						Amount of Gain (Loss) Recognized in AOCI												Consolidated Condensed Statements of Comprehensive Income (Loss)															Amount of Gain (Loss) Reclassified from AOCI
						Nine Months Ended September 30,
																								Total Amount of Line Item Presented
Derivative Instrument						2021						2020						Location of amount reclassified						2021			2020						2021						2020
Foreign exchange contracts						$	6,778					$	(2,526)					Net Sales						$	736,665		$	609,631					$	(4,948)					$	2,206
																		Cost of Sales						324,485			284,845						1,094						(710)
Pre-tax gain (loss)						$	6,778					$	(2,526)																				$	(3,854)					$	1,496
Tax expense (benefit)						1,637						(610)																					(931)						362
Net gain (loss)						$	5,141					$	(1,916)																				$	(2,923)					$	1,134

Derivatives Not Designated as Hedging Instruments

Net 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 September 30,												Nine Months Ended September 30,
Derivative Instrument						Location on Consolidated Condensed Statements of Comprehensive Income (Loss)						2021						2020						2021						2020
Net loss on currency forward contracts						Selling and administrative expense						$	(48)					$	(682)					$	(398)					$	(1,224)
Net gain (loss) on currency transaction exposures						Selling and administrative expense						$	(441)					$	312					$	(1,320)					$	143

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, 2021 and December 31, 2020:

September 30, 2021			Location on Consolidated Condensed Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net Fair Value
Derivatives designated as hedged instruments:
Foreign exchange contracts			Prepaid expenses and other current assets						$	3,319					$	(1,311)					$	2,008
Foreign exchange contracts			Other long-term assets						932						(145)						787
									$	4,251					$	(1,456)					$	2,795
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						21						(160)						(139)
Total derivatives									$	4,272					$	(1,616)					$	2,656

December 31, 2020			Location on Consolidated Condensed Balance Sheet						Asset Fair Value						Liabilities Fair Value						Net Fair Value
Derivatives designated as hedged instruments:
Foreign exchange contracts			Other current liabilities						$	1,500					$	(8,826)					$	(7,326)
Foreign exchange contracts			Other long-term liabilities						23						(535)						(512)
									$	1,523					$	(9,361)					$	(7,838)
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						25						(150)						(125)
Total derivatives									$	1,548					$	(9,511)					$	(7,963)

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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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