Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Financial Liability Measured at Fair Value on a Recurring Basis

The table below summarizes CTS’ financial assets (liabilities) that were measured at fair value at March 31, 2016, and the realized gain (loss) recorded during the three month period ended March 31, 2016:

				Quoted
				Prices
				in Active		Significant					Realized
	Carrying			Markets for		Other			Significant		Gain (Loss) for
	Value at			Identical		Observable			Unobservable		Three Months Ended
	March 31,			Instruments		Inputs			Inputs		March 31,
	2016			(Level 1)		(Level 2)			(Level 3)		2016
Interest rate swaps	$	(674	)	$	—	$	(674	)	$	—	$	233
Foreign currency hedges	$	379		$	—	$	379		$	—	$	(2	)

The table below summarizes the financial liability that was measured at fair value on a recurring basis as of December 31, 2015, and the loss recorded during the year ended December 31, 2015:

Quoted

Prices

in Active

Significant

Realized

Carrying

Markets for

Other

Significant

Gain (Loss) for

Value at

Identical

Observable

Unobservable

Year Ended

December 31,

Instruments

Inputs

Inputs

December 31,

2015

(Level 1)

(Level 2)

(Level 3)

2015

Interest rate swaps

$

(768

)

$

—

$

(768

)

$

—

$

(768

)

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
	March 31,			March 29,
	2016			2015
Foreign Exchange Contracts:
Loss recognized in Net Sales	$	(7	)	$	—
Gain recognized in Cost of Goods Sold	1			—
Gain recognized Selling, General and Administrative expense	4			—
Gain recognized in Other (expense) income	6			—
Interest Rate Swaps:
Interest Expense	$	152		$	190
Total	$	156		$	190

The table below provides a reconciliation of the recurring financial assets (liabilities) for our derivative instruments:

				Foreign
	Interest			Currency
	Rate Swaps			Hedges
Balance at January 1, 2015	$	(1,020	)	$	—
Total gains (losses) for the period:
Included in earnings	768			—
Included in other comprehensive income	(516		)	—
Balance at December 31, 2015	$	(768	)	$	—
Total gains (losses) for the period:
Included in earnings	233			(2		)
Included in other comprehensive income	(139		)	381
Balance at March 31, 2016	$	(674	)	$	379