Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The location and fair values of derivative instruments designated as hedging instruments in the Condensed Consolidated Balance Sheets as of June 30, 2017, are shown in the following table:

	As of
	June 30,		December 31,
	2017		2016
Foreign currency hedges reported in Accrued liabilities	$	—	$	601
Foreign currency hedges reported in Other current assets	$	390	$	—
Interest rate swaps reported in Other current assets	$	114	$	2
Interest rate swaps reported in Other assets	$	529	$	751

Derivative Instruments, Gain (Loss)

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,
	2017			2016			2017			2016
Foreign Exchange Contracts:
Loss recognized in Net Sales	$	(57	)	$	(84	)	$	(59	)	$	(91	)
Gain (loss) recognized in Cost of Goods Sold	58			88			(86		)	88
Gain recognized in Selling, General and Administrative expense	13			6			10			10
Loss recognized in Other (expenses) income	(1		)	—			(9		)	(1		)
Interest Rate Swaps:
Benefit recorded in Interest Expense	$	—		$	161		$	—		$	313
Total gain / (loss)	$	13		$	171		$	(144	)	$	319

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, 2016	$	(768	)	$	—
Settled in cash	—			54
Included in earnings	928			(18		)
Included in other comprehensive earnings	593			(637		)
Balance at December 31, 2016	$	753		$	(601	)
Settled in cash	—			(71		)
Included in earnings	—			144
Included in other comprehensive earnings	(110		)	918
Balance at June 30, 2017	$	643		$	390