XML 40 R30.htm IDEA: XBRL DOCUMENT v3.7.0.1
Hedging Activities (Tables)
6 Months Ended
Jun. 30, 2017
Summary of Notional Amounts and Respective Fair Values of Derivative Financial Instruments





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Asset derivatives

 

Liability derivatives



Gross notional amount

 

Balance

 

Fair value

 

Balance

 

Fair value



June 30,

 

Dec. 31,

 

sheet

 

June 30,

 

Dec. 31,

 

sheet

 

June 30,

 

Dec. 31,



2017

 

2016

 

location

 

2017

 

2016

 

location

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives
  designated as
  hedging
  instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign
  exchange
  contracts (1)

$

472 

 

$

458 

 

Other current
assets

 

$

10 

 

$

 

Other accrued
liabilities

 

$

(7)

 

$

(29)



 

 

 

 

 

 

Other assets

 

 

10 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate
  contracts

 

550 

 

 

550 

 

 

 

 

 

 

 

 

 

Other liabilities

 

 

(5)

 

 

(5)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives not
  designated as
  hedging
  instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign
  exchange
  contracts, other

 

649 

 

 

890 

 

Other current
assets

 

 

 

 

11 

 

Other accrued
liabilities

 

 

(7)

 

 

(7)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Translated
  earnings
  contracts

 

14,264 

 

 

16,711 

 

Other current
assets

 

 

213 

 

 

423 

 

Other accrued
liabilities

 

 

(29)

 

 

(52)



 

 

 

 

 

 

Other assets

 

 

40 

 

 

146 

 

Other liabilities

 

 

(353)

 

 

(277)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total derivatives

$

15,935 

 

$

18,609 

 

 

 

$

277 

 

$

581 

 

 

 

$

(401)

 

$

(370)



(1)

Cash flow hedges with a typical duration of 24 months or less.

Designated as Hedging Instrument [Member]  
Effect on Consolidated Financial Statements





 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Effect of  derivative instruments on the consolidated financial statements



 

for the three months ended June 30,



 

Gain/(loss)

 

 

 

 

 

 

 

 



 

recognized in other

 

Location of gain/(loss)

 

Gain/(loss) reclassified from



 

comprehensive income

 

reclassified from

 

accumulated OCI into

Derivatives in hedging

 

(OCI)

 

accumulated OCI into

 

income (effective) (1)

relationships

 

2017

 

2016

 

income (effective)

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

Cost of sales

 

$

(3)

 

$

(9)

Foreign exchange contracts

 

$

 

$

(35)

 

Other expense, net

 

 

(1)

 

 

(1)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total cash flow hedges

 

$

 

$

(35)

 

 

 

$

(4)

 

$

(10)



 





 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Effect of  derivative instruments on the consolidated financial statements



 

for the six months ended June 30,



 

Gain/(loss)

 

 

 

 

 

 

 

 



 

recognized in other

 

Location of gain/(loss)

 

Gain/(loss) reclassified from



 

comprehensive income

 

reclassified from

 

accumulated OCI into

Derivatives in hedging

 

(OCI)

 

accumulated OCI into

 

income ineffective/effective (1)

relationships

 

2017

 

2016

 

income (effective)

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

Sales

 

$

 

$



 

 

 

 

 

 

 

Cost of sales

 

 

(9)

 

 

(14)

Foreign exchange contracts

 

$

32 

 

$

(63)

 

Other expense, net

 

 

(1)

 

 

(1)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total cash flow hedges

 

$

32 

 

$

(63)

 

 

 

$

(9)

 

$

(14)



(1)

The amount of hedge ineffectiveness at June 30, 2017 and 2016 was insignificant.



Not Designated as Hedging Instrument [Member]  
Effect on Consolidated Financial Statements



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Gain (loss) recognized in income



 

 

Three months ended

 

Six months ended



Location of gain/(loss)

 

June 30,

 

June 30,

Undesignated derivatives

recognized in income

 

2017

 

2016

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts
  – balance sheet and loans

Other expense, net

 

$

(15)

 

$

(35)

 

$

(13)

 

$

(72)

Foreign currency hedges
  related to translated earnings

Translated earnings contract
  gain (loss), net

 

 

219 

 

 

(1,201)

 

 

(219)

 

 

(2,058)



 

 

 

 

 

 

 

 

 

 

 

 

 

Total undesignated

 

 

$

204 

 

$

(1,236)

 

$

(232)

 

$

(2,130)