Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 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 September 30, 2017, are shown in the following table:

	As of
	September 30,		December 31,
	2017		2016
Foreign currency hedges reported in Accrued liabilities	$	—	$	601
Foreign currency hedges reported in Other current assets	$	260	$	—
Interest rate swaps reported in Other current assets	$	156	$	2
Interest rate swaps reported in Other assets	$	494	$	751

Derivative Instruments, Gain (Loss)

The effect of derivative instruments on the Condensed Consolidated Statements of Earnings is as follows:

	Three Months Ended						Nine Months Ended
	September 30,			September 30,			September 30,			September 30,
	2017			2016			2017			2016
Foreign Exchange Contracts:
Loss recognized in Net Sales	$	(194	)	$	(35	)	$	(253	)	$	(125	)
Gain recognized in Cost of Goods Sold	268			51			182			139
Gain recognized in Selling, General and Administrative expense	21			—			31			10
Loss recognized in Other (expenses) income	(2		)	(5		)	(11		)	(9		)
Interest Rate Swaps:
Benefit recorded in Interest Expense	$	12		$	158		$	12		$	471
Total gain / (loss)	$	105		$	169		$	(39	)	$	486

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	(6		)	(75		)
Included in earnings	(6		)	(51		)
Included in other comprehensive earnings	(91		)	987
Balance at September 30, 2017	$	650		$	260