DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets

Fair values of derivative instruments in the Company’s Condensed Consolidated Balance Sheets follow:

	September 30, 2020								December 31, 2019
Derivatives by hedge designation	Other Current Assets		Other Current Liabilities		Other Assets		Other Liabilities		Other Current Assets		Other Current Liabilities		Other Assets		Other Liabilities
Designated as hedging instruments:
Foreign exchange contracts	$	1,034	$	1,476	$	—	$	—	$	1,288	$	522	$	—	$	—
Interest rate swap agreements	—		—		—		—		—		—		2,964		—
Forward starting swap agreements	—		—		1,876		—		—		—		—		—
Cross currency swap agreements	—		—		—		1,877		—		—		—		653
Not designated as hedging instruments:
Foreign exchange contracts	3,067		2,872		—		—		2,397		973		—		—
Total derivatives	$	4,101	$	4,348	$	1,876	$	1,877	$	3,685	$	1,495	$	2,964	$	653

Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income

The effects of undesignated derivative instruments on the Company’s Consolidated Statements of Income consisted of the following:

		Three Months Ended September 30,				Nine Months Ended September 30,
Derivatives by hedge designation	Classification of gain (loss)	2020		2019		2020		2019
Foreign exchange contracts	Selling, general & administrative expenses	$	6,381	$	(710)	$	(12,141)	$	5,707

Schedule of effects of designated hedges on AOCI and the entity's Consolidated Statements of Income

The effects of designated hedges on AOCI and the Company’s Consolidated Statements of Income consisted of the following:

Total gain (loss) recognized in AOCI, net of tax	September 30, 2020		December 31, 2019
Foreign exchange contracts	$	(468)	$	620
Forward starting swap agreements	1,407		—
Net investment contracts	65		1,006

The Company expects a loss of $468 related to existing contracts to be reclassified from AOCI, net of tax, to earnings over the next 12 months as the hedged transactions are realized. 

		Three Months Ended September 30,				Nine Months Ended September 30,
Derivative type	Gain (loss) recognized in the Consolidated Statements of Income:	2020		2019		2020		2019
Foreign exchange contracts	Sales	$	(756)	$	(15)	$	(2,281)	$	760
	Cost of goods sold	(200)		117		67		366