Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Liability Measured at Fair Value on a Recurring Basis

The table below summarizes our financial assets (liabilities) that were measured at fair value on a recurring basis at March 31, 2020:

				Quoted
				Prices
	Liability			in Active		Significant
	Carrying			Markets for		Other			Significant
	Value at			Identical		Observable			Unobservable
	March 31,			Instruments		Inputs			Inputs
	2020			(Level 1)		(Level 2)			(Level 3)
Interest rate swaps	$	(2,363	)	$	—	$	(2,363	)	$	—
Foreign currency hedges	$	(2,733	)	$	—	$	(2,733	)	$	—

The table below summarizes the financial assets that were measured at fair value on a recurring basis as of December 31, 2019:

			Quoted
			Prices
	Asset		in Active		Significant
	Carrying		Markets for		Other		Significant
	Value at		Identical		Observable		Unobservable
	December 31,		Instruments		Inputs		Inputs
	2019		(Level 1)		(Level 2)		(Level 3)
Interest rate swaps	$	4	$	—	$	4	$	—
Foreign currency hedges	$	580	$	—	$	580	$	—

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,
	2020			2019
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Cost of goods sold	$	248		$	42
Selling, general and administrative expense	(5		)	17
Total gain reclassified from AOCI to earnings	243			59
Loss recognized in other expense for hedge ineffectiveness	—			—
Total derivative gain on foreign exchange contracts recognized in earnings	$	243		$	59
Interest Rate Swaps:
Benefit recorded in Interest expense	$	38		$	156
Total gains on derivatives	$	281		$	215