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Fair Value Measurement (Tables)

6 Months Ended

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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- References

No definition available.

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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

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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

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