DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

9 Months Ended

Sep. 30, 2019

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets

Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018

		September 30, 2019				December 31, 2018
				Derivatives				Derivatives
		Derivatives		not		Derivatives		not
		Designated		Designated		Designated		Designated
	Balance Sheet	as Hedging		as Hedging		as Hedging		as Hedging
	Location	Instruments		Instruments		Instruments		Instruments
Derivative Assets
Foreign Exchange Contracts	Prepaid and other	$	—	$	38	$	—	$	259
Cross Currency Swap Contract (1)	Prepaid and other		6,673		—		—		—
		$	6,673	$	38	$	—	$	259
Derivative Liabilities
Foreign Exchange Contracts	Accounts payable and accrued liabilities	$	—	$	597	$	—	$	331
Cross Currency Swap Contract (1)	Accounts payable and accrued liabilities		—		—		1,040		—
		$	—	$	597	$	1,040	$	331

(1) This cross currency swap contract is composed of both an interest component and a foreign exchange component.

Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Quarters Ended September 30, 2019 and 2018

						Amount of Gain (Loss)				Total Amount
	Amount of Gain (Loss)				Location of (Loss)	Reclassified from				of Affected
Derivatives in Cash	Recognized in				Gain Recognized	Accumulated				Income
Flow Hedging	Other Comprehensive				in Income on	Other Comprehensive				Statement
Relationships	Income on Derivative				Derivatives	Income on Derivative				Line Item
	2019		2018			2019		2018
Cross currency swap contract:
Interest component	$	1,586	$	(68)	Interest expense	$	1,309	$	1,337	$	(8,898)
Foreign exchange component		6,491		2,131	Miscellaneous, net		6,491		2,131		(269)
	$	8,077	$	2,063		$	7,800	$	3,468

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Nine Months Ended September 30, 2019 and 2018

						Amount of Gain (Loss)				Total Amount
	Amount of Gain (Loss)				Location of (Loss)	Reclassified from				of Affected
Derivatives in Cash	Recognized in				Gain Recognized	Accumulated				Income
Flow Hedging	Other Comprehensive				in Income on	Other Comprehensive				Statement
Relationships	Income on Derivative				Derivatives	Income on Derivative				Line Item
	2019		2018			2019		2018
Cross currency swap contract:
Interest component	$	4,058	$	5,084	Interest expense	$	4,315	$	3,824	$	(26,868)
Foreign exchange component		8,084		9,984	Miscellaneous, net		8,084		9,984		148
	$	12,142	$	15,068		$	12,399	$	13,808

Schedule of Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Quarters Ended September 30, 2019 and 2018

		Amount of (Loss) Gain
Derivatives Not Designated	Location of (Loss) Gain Recognized	Recognized in Income
as Hedging Instruments	in Income on Derivatives	on Derivatives
		2019		2018
Foreign Exchange Contracts	Other (Expense) Income: Miscellaneous, net	$	(15)	$	(1,011)
		$	(15)	$	(1,011)

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Nine Months Ended September 30, 2019 and 2018

		Amount of (Loss) Gain
Derivatives Not Designated	Location of (Loss) Gain Recognized	Recognized in Income
as Hedging Instruments	in Income on Derivatives	on Derivatives
		2019		2018
Foreign Exchange Contracts	Other (Expense) Income: Miscellaneous, net	$	(529)	$	102
		$	(529)	$	102

Schedule of offsetting derivative assets and liabilities

						Gross Amounts not Offset
			Gross Amounts	Net Amounts		in the Statement of
			Offset in the	Presented in		Financial Position
	Gross		Statement of	the Statement of		Financial	Cash Collateral	Net
	Amount		Financial Position	Financial Position		Instruments	Received	Amount
Description
September 30, 2019
Derivative Assets	$	6,711	—	$	6,711	—	—	$	6,711
Total Assets	$	6,711	—	$	6,711	—	—	$	6,711
Derivative Liabilities	$	597	—	$	597	—	—	$	597
Total Liabilities	$	597	—	$	597	—	—	$	597
December 31, 2018
Derivative Assets	$	259	—	$	259	—	—	$	259
Total Assets	$	259	—	$	259	—	—	$	259
Derivative Liabilities	$	1,371	—	$	1,371	—	—	$	1,371
Total Liabilities	$	1,371	—	$	1,371	—	—	$	1,371