Derivatives (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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

The following table sets forth the fair value amounts of derivative instruments held by the Company:

	Derivative Assets					Derivative Liabilities
		Fair Value					Fair Value
	Balance Sheet Location	December 31, 2020		December 31, 2019		Balance Sheet Location	December 31, 2020		December 31, 2019
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	—	$	—	Other liabilities	$	(1,977)	$	(820)
Foreign exchange contracts	Prepaid expenses and other current assets	908		700		Accrued liabilities	—		—
Total derivatives designated as hedging instruments		908		700			(1,977)		(820)
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Prepaid expenses and other current assets	734		1,375		Accrued liabilities	(11)		(1)
Total derivatives not designated as hedging instruments		734		1,375			(11)		(1)
Total derivatives		$	1,642	$	2,075		$	(1,988)	$	(821)

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

The following table sets forth the effect of hedge accounting on accumulated other comprehensive (loss) income for the twelve month periods ended December 31, 2020, 2019 and 2018:

	Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Income (Loss) on Derivative						Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income	Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income
	Twelve Months Ended December 31,							Twelve Months Ended December 31,
Derivatives in Hedging Relationships	2020		2019		2018			2020		2019		2018
Derivatives in Cash Flow Hedging Relationships:
Interest rate contracts	$	(882)	$	(1,702)	$	578	Interest expense	$	(1,321)	$	347	$	(277)
Foreign exchange contracts	240		753		95		Net sales	(11)		(956)		(1,116)
Total	$	(642)	$	(949)	$	673		$	(1,332)	$	(609)	$	(1,393)

Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the effect of hedge accounting on the consolidated statements of income for the twelve month periods ended December 31, 2020, 2019 and 2018:

	Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
	Twelve Months Ended December 31,
	2020				2019				2018
	Net sales		Interest expense		Net sales		Interest expense		Net sales		Interest expense
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of hedges are recorded	$	1,124,391	$	15,944	$	1,491,118	$	20,629	$	1,495,889	$	16,841
The effects of hedging:
Gain (Loss) on cash flow hedging relationships
Interest rate contracts
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income			(1,321)				347				(277)
Foreign exchange contracts
Amount of loss reclassified from accumulated other comprehensive income (loss) into income	(11)				(956)				(1,116)

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the effect of derivatives not designated as hedging instruments on the consolidated statements of income for the twelve month periods ended December 31, 2020, 2019 and 2018:

	Location of Gain (Loss) Recognized in Income on Derivative	Amount of Gain (Loss) Recognized in Income on Derivative(A)
		Twelve Months Ended December 31,
Derivatives Not Designated as Hedging Instruments		2020		2019		2018
Foreign exchange contracts	Other expense (income), net	$	5,631	$	(8,250)	$	(12,162)

(A) During 2020 and 2018, such gains (losses) were substantially offset by net losses (gains) recorded on the underlying hedged asset or liability (the "underlying"). During 2019, approximately half of the loss recognized was offset by a net gain recorded on the underlying. Offsetting net gains or losses on the underlying are also recorded in other expense (income), net.