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DERIVATIVES (Tables)
9 Months Ended
Sep. 30, 2023
DERIVATIVES  
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets

September 30, 2023

December 31, 2022

Other

Other

Other

Other

Current

Current

Other

Other

Current

Current

Other

Other

Derivatives by hedge designation

Assets

    

Liabilities

    

Assets

    

Liabilities

    

Assets

    

Liabilities

    

Assets

    

Liabilities

Designated as hedging instruments:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Foreign exchange contracts

$

2,079

$

786

$

$

$

1,467

$

738

$

$

Interest rate swap agreements

 

 

3,946

 

 

 

 

Forward starting swap agreements

24,877

19,291

Net investment contracts

291

2,229

Commodity contracts

181

33

Not designated as hedging instruments:

 

Foreign exchange contracts

 

1,157

2,162

 

2,348

 

790

 

 

Total derivatives

$

3,527

$

2,948

$

28,823

$

$

3,996

$

3,790

$

19,291

$

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

    

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

Derivatives by hedge designation

    

Classification of gain (loss)

    

2023

    

2022

    

2023

    

2022

Not designated as hedges:

  

  

 

  

  

 

  

Foreign exchange contracts

Selling, general
& administrative expenses

$

(6,705)

$

(3,374)

$

5,066

$

(2,836)

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

    

    

Total gain recognized in AOCI, net of tax

    

September 30, 2023

    

December 31, 2022

    

Foreign exchange contracts

$

715

$

627

Interest rate swap agreements

2,952

Forward starting swap agreements

17,150

13,191

Net investment contracts

10,295

 

9,440

Commodity contracts

 

 

91

    

    

Three Months Ended September 30, 

    

Nine Months Ended September 30, 

Gain (loss) recognized in the

Derivative type

    

Consolidated Statements of Income:

    

2023

    

2022

    

2023

    

2022

Foreign exchange contracts

 

Sales

$

1,757

$

229

$

4,847

$

590

 

Cost of goods sold

 

159

 

573

 

187

 

1,202

Commodity contracts

Cost of goods sold

(3)

(319)

194

(40)