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Fair Value Measurement (Tables) | 6 Months Ended
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Jun. 30, 2018
Fair Value Disclosures [Abstract] |
Summary of Financial Liability Measured at Fair Value on a Recurring Basis | The table below summarizes our financial assets that were measured at fair value on a recurring basis at June 30, 2018:
|  |  | Quoted |  |  |  |  |
|  |  | Prices |  |  |  |  |
| Asset |  | in Active |  | Significant |  |  |
| Carrying |  | Markets for |  | Other |  | Significant |
| Value at |  | Identical |  | Observable |  | Unobservable |
| June 30, |  | Instruments |  | Inputs |  | Inputs |
| 2018 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Interest rate swaps | $ | 1,359 |  |  | $ | — |  |  | $ | 1,359 |  |  | $ | — |  |
Foreign currency hedges | $ | 76 |  |  | $ | — |  |  | $ | 76 |  |  | $ | — |  |
The table below summarizes the financial assets (liabilities) that were measured at fair value on a recurring basis as of December 31, 2017:
|  |  | Quoted |  |  |  |
| Asset |  | Prices |  |  |  |
| (Liability) |  | in Active |  | Significant |  |
| Carrying |  | Markets for |  | Other |  | Significant
| Value at |  | Identical |  | Observable |  | Unobservable
| December 31, |  | Instruments |  | Inputs |  | Inputs
| 2017 |  | (Level 1) |  | (Level 2) |  | (Level 3)
Interest rate swaps | $ | 971 |  |  | $ | — |  |  | $ | 971 |  |  | $ | — |
Foreign currency hedges | $ | (742 | ) |  | $ | — |  |  | $ | (742 | ) |  | $ | — |
Reconciliation of Recurring Financial Liability Related to Interest Rate Swaps | The effect of derivative instruments on the Condensed Consolidated Statements of Earnings is as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30, |  | June 30, |  | June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Foreign Exchange Contracts: |  |  |  |  |  |  |
Gain (loss) recognized in Net sales | $ | 21 |  |  | $ | (57 | ) |  | $ | (37 | ) |  | $ | (59 | )
Gain (loss) recognized in Cost of goods sold | 32 |  |  | 58 |  |  | 140 |  |  | (86 | )
(Loss) gain recognized in Selling, general and administrative expense | (4 | ) |  | 13 |  |  | (5 | ) |  | 10 |
Loss recognized in Other income | — |  |  | (1 | ) |  | (1 | ) |  | (9 | )
Interest Rate Swaps: |  |  |  |  |  |  |
Benefit recorded in Interest expense | $ | 105 |  |  | $ | — |  |  | $ | 170 |  |  | $ | — |
Total gain (loss) | $ | 154 |  |  | $ | 13 |  |  | $ | 267 |  |  | $ | (144 | )
The table below provides a reconciliation of the recurring financial assets (liabilities) for our derivative instruments:
|  |  | Foreign
| Interest |  | Currency
Total gains (losses) for the period: | Rate Swaps |  | Hedges
Balance at January 1, 2017 | $ | 753 |  |  | $ | (601 | )
Settled in cash | — |  |  | (132 | )
Included in earnings | — |  |  | 38 |
Included in other comprehensive earnings | 218 |  |  | (47 | )
Balance at December 31, 2017 | $ | 971 |  |  | $ | (742 | )
Settled in cash | — |  |  | (21 | )
Included in earnings | (170 | ) |  | 97 |
Included in other comprehensive earnings | 558 |  |  | 742 |
Balance at June 30, 2018 | $ | 1,359 |  |  | $ | 76 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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