Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 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 September 30, 2019, are shown in the following table:

	As of
	September 30,			December 31,
	2019			2018
Interest rate swaps reported in Other current assets	$	127		$	576
Interest rate swaps reported in Other assets	—			369
Interest rate swaps reported in Other long-term obligations	(498		)	—
Foreign currency hedges reported in Other current assets	$	395		$	393

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,
	2019		2018			2019		2018
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Net sales	$	—	$	152		$	—	$	115
Cost of goods sold	286		(52		)	562		88
Selling, general and administrative expense	23		3			62		(2		)
Total amounts reclassified from AOCI to earnings	309		103			624		201
Loss recognized in other expense for hedge ineffectiveness	—		—			—		(1		)
Total derivative gain on foreign exchange contracts recognized in earnings	$	309	$	103		$	624	$	200
Interest Rate Swaps:
Benefit recorded in Interest expense	$	117	$	114		$	430	$	284
Total gain	$	426	$	217		$	1,054	$	484

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	(430		)	(703		)
Total gains (losses) for the period:
Included in earnings	430			624
Included in other comprehensive income	(1,317		)	81
Balance at September 30, 2019	$	(372	)	$	395