Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities

Summary of the Company's outstanding derivative contracts and their effects on the Consolidated Statements of Financial Position

	September 30, 2020
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency forward contracts	$	7,483	$	539	$	-
Commodity futures contracts		4,010		415		-
Total derivatives			$	954	$	-
	December 31, 2019
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency forward contracts	$	5,533	$	14	$	—
Commodity futures contracts		7,147		205		(84)
Total derivatives			$	219	$	(84)
	September 30, 2019
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency forward contracts	$	8,294	$	-	$	(122)
Commodity futures contracts		4,726		26		(134)
Total derivatives			$	26	$	(256)

Effects of derivative instruments on the Consolidated Statement of Earnings and Retained Earnings, and the Condensed Consolidated Statement of Comprehensive Earnings

	For Quarter Ended September 30, 2020
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency forward contracts	$	194	$	82	$	-
Commodity futures contracts		416		(92)		-
Total	$	610	$	(10)	$	-
	For Quarter Ended September 30, 2019
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency forward contracts	$	(138)	$	(33)	$	-
Commodity futures contracts		(354)		(357)		-
Total	$	(492)	$	(390)	$	-
	For Year to Date Ended September 30, 2020
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency forward contracts	$	341	$	(185)	$	-
Commodity futures contracts		47		(247)		-
Total	$	388	$	(432)	$	-
	For Year to Date Ended September 30, 2019
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency forward contracts	$	252	$	(33)	$	-
Commodity futures contracts		(137)		(615)		-
Total	$	115	$	(648)	$	-