Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivatives on the Consolidated Statements of Income and Comprehensive Income

The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2016, 2015 and 2014.

	Location on Statement of Income and Comprehensive Income	2016			2015			2014
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)		$867			($205	)		($1,069	)
Foreign currency option contracts	Other comprehensive income (loss)	1,035			370			(1,647		)
Interest rate swaps	Other comprehensive income (loss)	21,422			(10,197		)	—
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other comprehensive income (loss)	—			2,875			(145		)
Foreign currency option contracts	Other comprehensive income (loss)	(4,606		)	4,606			—
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating expense (income)	895			—			25
Foreign currency option contracts	Other operating expense (income)	258			1,394			7
Interest rate swaps	Interest and miscellaneous (expense) income	(1,219		)	(4,391		)	(5,882		)
Fuel hedge contracts	Cost of sales (benefit)	—			—			160

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2016 and 2015:

	Notional Amount
	2016		2015
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts		$44,800		$21,250
Foreign currency option contracts	91,000		107,200
Interest rate swaps	650,000		350,000
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	—		—
Foreign currency option contracts	—		331,588
Derivatives not designated as hedging instruments:
Interest rate swaps	—		130,169

Schedule of Derivative Instruments in Statement of Financial Position

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2016 and 2015. Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows.

		Fair Value Assets (Liabilities) (a)
	Location on Balance Sheet	2016			2015
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other current assets		$692			$43
	Other assets	33			—
	Other current liabilities	(261		)	(1,449		)
	Other non-current liabilities	—			(219		)
Foreign currency option contracts	Other current assets	1,064			560
	Other assets	327			408
	Other current liabilities	(574		)	(1,393		)
	Other non-current liabilities	(426		)	(217		)
Interest rate swaps	Other assets	17,204			—
	Other non-current liabilities	(5,979		)	(10,197		)
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other current liabilities	—			—
Foreign currency option contracts	Other current assets	—			4,630
	Other current liabilities	—			(24		)
Derivatives not designated as hedging instruments:
Interest rate swaps	Other non-current liabilities	—			(8,047		)
Total derivative contracts:
Other current assets			$1,756			$5,233
Other assets		17,564			408
Total derivative assets			$19,320			$5,641
Other current liabilities		(835		)	(2,866		)
Other non-current liabilities		(6,405		)	(18,680		)
Total derivative liabilities			($7,240	)		($21,546	)

(a) See Note 14 —Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.