Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments, Gain (Loss)

The effects of fair value and cash flow hedge accounting on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the period ended March 31, 2022 was as follows:

(in thousands)				Cost of Goods Sold		Interest expense, net and other
Total amounts of income and expense line items presented in the Condensed Consolidated Statement of Earnings in which the effects of fair value or cash flow hedges are recorded				$	256,789	$	(428)
The effects of fair value and cash flow hedging
	Gain or (loss) on cash flow hedging relationships
		Interest contracts:
			Amount of gain or (loss) reclassified from OCI to earnings	—		(29)
		Cross currency swap contract
			Amount of gain or (loss) reclassified from OCI to earnings	—		(2,946)
		Forward contract
			Amount of gain or (loss) reclassified from OCI to earnings	163		—

The effects of derivative instruments on the Condensed Consolidated Statement of Earnings and Comprehensive Income for the period ended March 31 were as follow:

Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCI				Location of Gain (Loss) Reclassified from OCI into Earnings	Gain (Loss) Reclassified from OCI into Earnings
(in thousands)	2022		2021			2022		2021
Interest rate contracts	$	(1,805)	$	—	Interest expense	$	(29)	$	—
Cross currency contracts	(7,548)		—		Interest expense	21		—
					FX gain (loss)	(2,967)		—
Forward contracts	$	—	$	—	Cost of goods sold	163		—
Total	$	(9,353)	$	—		$	(2,812)	$	—