Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2017

Equity [Abstract]

Schedule of cash dividends declared per common share

Cash dividends declared per common share for the three and nine months ended September 30, 2017 and 2016, were as follows:

	Three months ended September 30,				Nine months ended September 30,
	2017		2016		2017		2016
Cash dividends declared and paid per common share	$	0.58	$	0.55	$	1.74	$	1.65

Schedule of reconciliation of weighted average number of shares

A reconciliation of these amounts is as follows (in thousands):

	Three months ended September 30,		Nine months ended September 30,
	2017	2016	2017	2016
Weighted average number of common shares outstanding	62,398	63,902	62,637	64,263
Director Plan and deferred stock units	161	143	154	168
ESOP	87	106	99	104
Common shares outstanding—basic	62,646	64,151	62,890	64,535
Dilutive effect of Omnibus Plan	1,239	876	1,052	900
Common and potential common shares outstanding—diluted	63,885	65,027	63,942	65,435

Schedule of changes in accumulated other comprehensive income (loss) balances

Changes in the accumulated other comprehensive loss balance is as follows (in thousands):

	Foreign Currency Items			Cash Flow Hedging Derivatives			Accumulated Other Comprehensive Loss
Balance as of December 31, 2016	$	(84,133	)	$	296		$	(83,837	)
Reclassification to the statement of income	—			(2,255		)	(2,255		)
Change in fair value	41,042			1,047			42,089
Balance as of September 30, 2017	$	(43,091	)	$	(912	)	$	(44,003	)

Schedule of gains and losses, net of tax, reclassified from accumulated other comprehensive income into the income statement for cash flow derivatives designated as hedging instruments

The table below provides data about the amount of gains and losses, net of tax, reclassified from accumulated other comprehensive loss into the statement of income for cash flow derivatives designated as hedging instruments for the three and nine months ended September 30, 2017 and 2016 (in thousands):

Derivatives in Cash Flow Hedging Relationships	Location of (Gain) Loss Reclassified from Accumulated OCI into Income	Three months ended September 30,						Nine months ended September 30,
		2017			2016			2017			2016
Foreign currency contracts	Other expense, net	$	(174	)	$	(3,002	)	$	2,433		$	(579	)
Foreign currency contracts	Cost of sales	258			(838		)	(178		)	(1,687		)
Total		$	84		$	(3,840	)	$	2,255		$	(2,266	)