Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2018

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 March 31, 2018:

			Quoted
			Prices
	Asset		in Active		Significant
	Carrying		Markets for		Other		Significant
	Value at		Identical		Observable		Unobservable
	March 31,		Instruments		Inputs		Inputs
	2018		(Level 1)		(Level 2)		(Level 3)
Interest rate swaps	$	1,294	$	—	$	1,294	$	—
Foreign currency hedges	$	34	$	—	$	34	$	—

The table below summarizes the financial assets (liabilities) that were measured at fair value on a recurring basis as of December 31, 2017:

				Quoted
	Asset			Prices
	(Liability)			in Active		Significant
	Carrying			Markets for		Other			Significant
	Value at			Identical		Observable			Unobservable
	December 31,			Instruments		Inputs			Inputs
	2017			(Level 1)		(Level 2)			(Level 3)
Interest rate swaps	$	971		$	—	$	971		$	—
Foreign currency hedges	$	(742	)	$	—	$	(742	)	$	—

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 31,
	2018			2017
Foreign Exchange Contracts:
Loss recognized in Net sales	$	(58	)	$	(2	)
Gain (loss) recognized in Cost of goods sold	108			(144		)
Loss recognized in Selling, general and administrative expense	(1		)	(3		)
Loss recognized in Other income	(1		)	(8		)
Interest Rate Swaps:
Benefit recorded in Interest expense	$	65		$	—
Total gain (loss)	$	113		$	(157	)

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

				Foreign
	Interest			Currency
Total gains (losses) for the period:	Rate Swaps			Hedges
Balance at January 1, 2017	$	753		$	(601	)
Settled in cash	—			(132		)
Included in earnings	—			38
Included in other comprehensive earnings	218			(47		)
Balance at December 31, 2017	$	971		$	(742	)
Settled in cash	—			8
Included in earnings	(65		)	48
Included in other comprehensive earnings	388			720
Balance at March 31, 2018	$	1,294		$	34