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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022						December 31, 2021
Forward exchange contracts			Cash flow hedge						$	196,749					$	172,894
Forward exchange contracts			Non-designated						37,057						38,897

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

						Amount of Gain 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						2022						2021						Location of amount reclassified						2022			2021						2022						2021
Foreign exchange contracts						$	11,695					$	3,188					Net Sales						$	275,088		$	248,827					$	5,090					$	(1,077)
																		Cost of Sales						123,473			106,521						225						419
Pre-tax gain (loss)						$	11,695					$	3,188																				$	5,315					$	(658)
Tax expense (benefit)						2,835						770																					1,288						(159)
Net gain (loss)						$	8,860					$	2,418																				$	4,027					$	(499)

						Amount of Gain 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						2022						2021						Location of amount reclassified						2022			2021						2022						2021
Foreign exchange contracts						$	24,698					$	6,778					Net Sales						$	794,605		$	736,665					$	10,237					$	(4,948)
																		Cost of Sales						355,222			324,485						499						1,094
Pre-tax gain (loss)						$	24,698					$	6,778																				$	10,736					$	(3,854)
Tax expense (benefit)						5,987						1,637																					2,602						(931)
Net gain (loss)						$	18,711					$	5,141																				$	8,134					$	(2,923)

Derivatives Not Designated as Hedging Instruments

Net gains and losses from derivative instruments not accounted for as hedges 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)						2022						2021						2022						2021
Net gain (loss) on currency forward contracts						Selling and administrative expense						$	892					$	(48)					$	1,088					$	(398)
Net loss on currency transaction exposures						Selling and administrative expense						$	(1,110)					$	(441)					$	(2,874)					$	(1,320)

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, 2022 and December 31, 2021:

September 30, 2022			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						$	15,922					$	(172)					$	15,750
Foreign exchange contracts			Other long-term assets						3,097						(59)						3,038
									$	19,019					$	(231)					$	18,788
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						53						(124)						(71)
Total derivatives									$	19,072					$	(355)					$	18,717

December 31, 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						$	5,331					$	(430)					$	4,901
Foreign exchange contracts			Other long-term liabilities						82						(161)						(79)
									$	5,413					$	(591)					$	4,822
Derivatives not designated as hedging instruments:
Foreign exchange contracts			Other current liabilities						38						(180)						(142)
Total derivatives									$	5,451					$	(771)					$	4,680

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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 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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