Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019, are shown in the following table:

	As of
	June 30,		December 31,
	2019		2018
Interest rate swaps reported in Other current assets	$	235	$	576
Interest rate swaps reported in Other assets	$	17	$	369
Foreign currency hedges reported in Other current assets	$	718	$	393

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,
	2019		2018			2019		2018
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Net sales	$	—	$	21		$	—	$	(37	)
Cost of goods sold	233		32			276		140
Selling, general and administrative expense	23		(4		)	39		(5		)
Total amounts reclassified from AOCI to earnings	256		49			315		98
Loss recognized in other expense for hedge ineffectiveness	—		—			—		(1		)
Total derivative gain on foreign exchange contracts recognized in earnings	$	256	$	49		$	315	$	97
Interest Rate Swaps:
Benefit recorded in Interest expense	$	156	$	105		$	313	$	170
Total gain	$	412	$	154		$	628	$	267

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, 2018	$	971		$	(742	)
Cash settlements paid (received)	421			(402		)
Total gains (losses) for the period:
Included in earnings	(421		)	484
Included in other comprehensive income	(26		)	1,053
Balance at December 31, 2018	$	945		$	393
Cash settlements received	(313		)	(403		)
Total gains (losses) for the period:
Included in earnings	313			315
Included in other comprehensive income	(693		)	413
Balance at June 30, 2019	$	252		$	718