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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Information Related to Recurring Fair Value Measurement of Derivative Instruments in Our Consolidated Condensed Balance Sheet | Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of June 30, 2022 is as follows:
|  |  |  |  |  |  | Asset Derivatives |  |  | Liability Derivatives |  |  |  |
|  | Fair Value Hierarchy |  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value |  |  | Net Asset/ (Liabilities) |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives |  | Level 2 |  | $ | 14,075 |  |  | Other current assets |  | $ | 588 |  |  | Other current liabilities |  | $ | — |  |  | $ | 588 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives |  | Level 2 |  | $ | 128,319 |  |  | Other current assets |  | $ | 1,403 |  |  | Other current liabilities |  | $ | 921 |  |  | $ | 482 |
Interest rate contracts |  | Level 2 |  | $ | 100,000 |  |  | Other current assets |  | $ | — |  |  | Other current liabilities |  | $ | 693 |  |  | $ | 693 |
Information related to the recurring fair value measurement of derivative instruments in our consolidated condensed balance sheet as of December 31, 2021 is as follows:
|  |  |  |  |  |  | Asset Derivatives |  |  | Liability Derivatives |  |  |  |
|  | Fair Value Hierarchy |  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value |  |  | Net Asset/ (Liabilities) |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives |  | Level 2 |  | $ | 13,974 |  |  | Other current assets |  | $ | 294 |  |  | Other current liabilities |  | $ | — |  |  | $ | 294 |
Commodity hedges |  | Level 2 |  | $ | 309 |  |  | Other current assets |  | $ | 6 |  |  | Other current liabilities |  | $ | — |  |  | $ | 6 |
Information Related to Effect of Derivative Instruments on Our Consolidated Condensed Statements of Income and Consolidated Condensed Statements of Comprehensive Income (Loss) | Information relating to the effect of derivative instruments on our consolidated condensed statements of income and the consolidated condensed statements of comprehensive income is as follows:
|  |  |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | Location |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Derivatives Designated as Cash Flow Hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives |  | Cost of sales – income |  | $ | 333 |  |  | $ | 529 |  |  | $ | 486 |  |  | $ | 1,007 |
|  | Other comprehensive (loss) income |  |  | (316 | ) |  |  | (62 | ) |  |  | 294 |  |  |  | (729 | )
Total foreign currency derivatives |  |  |  | $ | 17 |  |  | $ | 467 |  |  | $ | 780 |  |  | $ | 278 |
Commodity derivatives |  | Cost of sales – income |  | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |
|  | Other comprehensive loss |  |  | — |  |  |  | — |  |  |  | (6 | ) |  |  | — |
Total commodity derivatives |  |  |  | $ | — |  |  | $ | — |  |  | $ | 13 |  |  | $ | — |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency derivatives |  | Foreign currency gain (loss) |  | $ | 482 |  |  | $ | — |  |  | $ | 482 |  |  | $ | — |
Total foreign currency derivatives |  |  |  | $ | 482 |  |  | $ | — |  |  | $ | 482 |  |  | $ | — |
Interest rate contracts |  | Interest expense, net |  | $ | (693 | ) |  | $ | — |  |  | $ | (693 | ) |  | $ | — |
Total interest rate derivatives |  |  |  | $ | (693 | ) |  | $ | — |  |  | $ | (693 | ) |  | $ | — |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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