Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value of Gross Position of Derivative Contracts in Consolidated Balance Sheets

The following table presents the location and amounts of derivative instrument fair values in the Condensed Consolidated Balance Sheets:



Assets/(liabilities)	September 30, 2020			December 31, 2019
Designated as hedging instruments:
Gross amounts recognized	$	(11,128	)	$	(3,208	)
Gross amounts offset	190			149
Net amounts	$	(10,938	)	$	(3,059	)
Not designated as hedging instruments:
Gross amounts recognized	$	(450	)	$	(1,118	)
Gross amounts offset	129			76
Net amounts	$	(321	)	$	(1,042	)
Net amounts presented:
Accrued liabilities	$	(4,758	)	$	(2,420	)
Other long-term liabilities	(6,501		)	(1,681		)

Gains and Losses on Derivative Instruments in Consolidated Statements of Income

The following table presents the location and amount of gains and losses on derivative instruments designated as cash flow hedges in the Condensed Consolidated Statements of Income:




	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Amount of Loss Recognized in Other Comprehensive Income (Loss) on Derivatives	$	(658	)	$	(1,164	)	$	(6,753	)	$	(2,714	)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
Net sales	$	190		$	143		$	972		$	998
Interest expense	(31		)	(30		)	(90		)	(94		)
Other non-operating income (expense)	(831		)	775			(526		)	775
	$	(672	)	$	888		$	356		$	1,679

The following table presents the location and amount of gains and losses on foreign exchange contract derivatives not designated as hedging instruments in the Condensed Consolidated Statements of Income.



	Three Months Ended September 30,					Nine Months Ended September 30,
	2020			2019		2020		2019
Other non-operating income (expense)	$	(2,520	)	$	2,120	$	2,819	$	1,490

Schedule of Fair Value Hierarchy for those Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019:




	September 30, 2020
	Total Assets (Liabilities)			Quoted Prices in Active Markets for Identical Assets Level (1)			Significant Other Observable Inputs Level (2)			Significant Unobservable Inputs Level (3)
Foreign Currency Derivative	$	(1,816	)	$	—		$	(1,816	)	$	—
Interest Rate Swaps	(9,443		)	—			(9,443		)	—
Stock-based Liabilities	(14,656		)	(14,656		)	—			—




	December 31, 2019
	Total Liabilities			Quoted Prices in Active Markets for Identical Assets Level (1)			Significant Other Observable Inputs Level (2)			Significant Unobservable Inputs Level (3)


Foreign Currency Derivative	$	(3,069	)	$	—		$	(3,069	)	$	—
Interest Rate Swaps	(1,032		)	—			(1,032		)	—
Stock-based Liabilities	(14,971		)	(14,971		)	—			—