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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2021
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 Consolidated Balance Sheets as of December 31, 2021, are shown in the following table:

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

Interest rate swaps reported in Other current assets

 

$

 

 

$

 

Interest rate swaps reported in Accrued expenses and other liabilities

 

$

(437

)

 

$

(671

)

Interest rate swaps reported in Other long-term obligations

 

$

(353

)

 

$

(1,546

)

Foreign currency hedges reported in Other current assets

 

$

135

 

 

$

1,125

 

Schedule of Effect of Derivative Instruments on Consolidated Statements of (Loss) Earnings

The effect of derivative instruments on the Consolidated Statements of (Loss) Earnings is as follows:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Foreign Exchange Contracts:

 

 

 

 

 

 

 

 

 

 

 

 

Amounts reclassified from AOCI to earnings:

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

$

 

 

$

(128

)

 

$

 

Cost of goods sold

 

 

1,384

 

 

 

(754

)

 

 

860

 

Selling, general and administrative expense

 

 

 

 

 

(5

)

 

 

92

 

Total amounts reclassified from AOCI to earnings

 

 

1,384

 

 

 

(887

)

 

 

952

 

Gain recognized in other expense for hedge ineffectiveness

 

 

 

 

 

3

 

 

 

 

Total derivative gain (loss) on foreign exchange contracts

   recognized in earnings

 

$

1,384

 

 

$

(884

)

 

$

952

 

Interest Rate Swaps:

 

 

 

 

 

 

 

 

 

 

 

 

(Expense) benefit recorded in interest expense

 

$

(744

)

 

$

(432

)

 

$

491

 

Total gains (losses) on derivatives

 

$

640

 

 

$

(1,316

)

 

$

1,443