Derivatives (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

We forecast our net exposure in various receivables and payables to fluctuations in the value of various currencies, and we enter into foreign currency forward contracts to mitigate that exposure. We enter into approximately 20 foreign currency fair value hedges every month. As of December 31, 2016, we had entered into foreign currency forward contracts related to those balance sheet accounts with the following notional amounts (in thousands and in local currencies):

Currency	Symbol	Forward Notional Amount
Euro	EUR	20,657
British Pound	GBP	975
Chinese Yuan Renminbi	CNY	16,615
Mexican Peso	MXN	19,125
Brazilian Real	BRL	5,100
Australian Dollar	AUD	4,150
Hong Kong Dollar	HKD	11,000
Swiss Franc	CHF	230
Swedish Krona	SEK	3,035
Canadian Dollar	CAD	4,320

We enter into approximately 100 cash flow foreign currency hedges every month. As of December 31, 2016, we had entered into foreign currency forward contracts, which qualified as cash flow hedges, with the following notional amounts (in thousands and in local currencies):

Currency	Symbol	Forward Notional Amount
Euro	EUR	11,065
Swiss Franc	CHF	1,303
Danish Krone	DKK	8,795
British Pound	GBP	3,115
Mexican Peso	MXN	76,525
Swedish Krona	SEK	13,165

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on a gross basis is as follows (in thousands):

	As of December 31, 2016				As of December 31, 2015
	Balance Sheet Location	Fair Value			Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Assets
Interest rates swaps	Other assets (long-term)	$	4,991		Other assets (long-term)	$	2
Foreign currency forward contracts	Prepaid expenses and other assets	116			N/A	—
Foreign currency forward contracts	Other assets (long-term)	18			N/A	—
Liabilities
Foreign currency forward contracts	Accrued Expenses	(275		)	N/A	—
Foreign currency forward contracts	Other long-term obligations	(18		)	N/A	—
Derivatives not designated as hedging instruments
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	220		Other Receivables	$	115
Liabilities
Foreign currency forward contracts	Accrued Expenses	(171		)	Accrued Expenses	(278		)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income and net earnings in our consolidated statements of earnings, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

	Amount of Gain/(Loss) recognized in OCI									Amount of Gain/(Loss) reclassified from AOCI
	Year ended December 31,									Year ended December 31,
	2016		2015			2014				2016		2015	2014
Derivative instrument									Location in statements of income
Interest rate swaps	$4,989		$	(571	)	$	(630	)	Interest Expense	$718		$1,103	$587
Foreign currency forward contracts	68		—			—			Revenue	21		—	—
Foreign currency forward contracts	(273	)	—			—			Cost of goods sold	(26	)	—	—

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the years presented (in thousands):

		Year ended December 31,
		2016		2015			2014
Derivative Instrument	Location in statements of income
Foreign currency forward contracts	Other expense	$	69	$	(302	)	$	8