Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2018:

			Quoted
			Prices
	Asset		in Active		Significant
	Carrying		Markets for		Other		Significant
	Value at		Identical		Observable		Unobservable
	September 30,		Instruments		Inputs		Inputs
	2018		(Level 1)		(Level 2)		(Level 3)
Interest rate swaps	$	1,358	$	—	$	1,358	$	—
Foreign currency hedges	$	864	$	—	$	864	$	—

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						Nine Months Ended
	September 30,			September 30,			September 30,			September 30,
	2018			2017			2018			2017
Foreign Exchange Contracts:
Gain (loss) recognized in Net sales	$	152		$	(194	)	$	115		$	(253	)
(Loss) gain recognized in Cost of goods sold	(52		)	268			88			182
Gain (loss) recognized in Selling, general and administrative expense	3			21			(2		)	31
Loss recognized in Other income	—			(2		)	(1		)	(11		)
Interest Rate Swaps:
Benefit recorded in Interest expense	$	114		$	12		$	284		$	12
Total gain (loss)	$	217		$	105		$	484		$	(39	)

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 income	218			(47		)
Balance at December 31, 2017	$	971		$	(742	)
Settled in cash	—			(143		)
Included in earnings	(284		)	200
Included in other comprehensive income	671			1,549
Balance at September 30, 2018	$	1,358		$	864