Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Location and Fair Values of Derivative Instruments

The location and fair values of derivative instruments designated as hedging instruments in the Condensed Consolidated Balance Sheets as of September 30, 2023 are shown in the following table:

	As of
	September 30,			December 31,
	2023			2022
Interest rate swaps reported in Other current assets	$	1,532		$	1,561
Interest rate swaps reported in Other assets	$	1,744		$	1,434
Cross-currency swap reported in Accrued expenses and other liabilities	$	(17	)	$	(357	)
Foreign currency hedges reported in Other current assets	$	1,295		$	945

Schedule of Effect of Derivative Instruments on Consolidated Statements of Earnings

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,
	2023			2022		2023			2022
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Net sales	$	(37	)	$	—	$	(134	)	$	—
Cost of goods sold		949			216		1,793			524
Total gain reclassified from AOCI to earnings		912			216		1,659			524
Total derivative gain on foreign exchange contracts recognized in earnings	$	912		$	216	$	1,659		$	524
Interest Rate Swaps:
Income (expense) recorded in Interest expense	$	481		$	79	$	1,298		$	(194	)
Cross-Currency Swap:
Income recorded in Interest expense	$	119		$	175	$	414		$	175
Total net gains on derivatives	$	1,512		$	470	$	3,371		$	505