Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

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

The table below summarizes our financial liabilities that were measured at fair value on a recurring basis at June 30, 2020:

				Quoted
				Prices
	Liability			in Active		Significant
	Carrying			Markets for		Other			Significant
	Value at			Identical		Observable			Unobservable
	June 30,			Instruments		Inputs			Inputs
	2020			(Level 1)		(Level 2)			(Level 3)
Interest rate swaps	$	(2,615	)	$	—	$	(2,615	)	$	—
Foreign currency hedges	$	(1,564	)	$	—	$	(1,564	)	$	—

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					Six Months Ended
	June 30,			June 30,		June 30,			June 30,
	2020			2019		2020			2019
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Net sales	$	73		$	—	$	73		$	—
Cost of goods sold	(519		)	233		(271		)	276
Selling, general and administrative expense	—			23		(5		)	39
Total (loss) gain reclassified from AOCI to earnings	(446		)	256		(203		)	315
Gain recognized in other expense for hedge ineffectiveness	3			—		3			—
Total derivative (loss) gain on foreign exchange contracts recognized in earnings	$	(443	)	$	256	$	(200	)	$	315
Interest Rate Swaps:
(Expense) benefit recorded in Interest expense	$	(109	)	$	156	$	(71	)	$	313
Total (losses) gains on derivatives	$	(552	)	$	412	$	(271	)	$	628