Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

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

The table below summarizes our financial assets that were measured at fair value on a recurring basis at June 30, 2017:

			Quoted
			Prices
	Asset		in Active		Significant
	Carrying		Markets for		Other		Significant
	Value at		Identical		Observable		Unobservable
	June 30,		Instruments		Inputs		Inputs
	2017		(Level 1)		(Level 2)		(Level 3)
Interest rate swaps	$	643	$	—	$	643	$	—
Foreign currency hedges	$	390	$	—	$	390	$	—

The table below summarizes the financial assets (liabilities) that were measured at fair value on a recurring basis as of December 31, 2016:

				Quoted
	Asset			Prices
	(Liability)			in Active		Significant
	Carrying			Markets for		Other			Significant
	Value at			Identical		Observable			Unobservable
	December 31,			Instruments		Inputs			Inputs
	2016			(Level 1)		(Level 2)			(Level 3)
Interest rate swaps	$	753		$	—	$	753		$	—
Foreign currency hedges	$	(601	)	$	—	$	(601	)	$	—

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						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