Derivative Financial Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Interest Rate Swaps

The following table contains information on the outstanding interest rate swaps as of December 31, 2017:

Outstanding Interest Rate Swaps (a)
Date Entered Into	Term	Notional Amount		Related Debt Facility	Fixed Rate of Swap		Bank Margin  on Debt		Total Effective Interest Rate (b)
August 2015	9 years		$170,000	Term Credit Agreement	2.20	%	1.63	%	3.83	%
August 2015	9 years	180,000		Term Credit Agreement	2.35	%	1.63	%	3.98	%
April 2016	10 years	100,000		Incremental Term Loan	1.60	%	1.90	%	3.50	%
April 2016	10 years	100,000		Incremental Term Loan	1.60	%	1.90	%	3.50	%
July 2016	10 years	100,000		Incremental Term Loan	1.26	%	1.90	%	3.16	%

(a) All interest rate swaps have been designated as interest rate cash flow hedges and qualify for hedge accounting.

(b) Rate is before estimated patronage payments.

Schedule of derivatives on the Consolidated Statements of Income and Comprehensive Income

The following table demonstrates the impact of the Company’s derivatives on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2017, 2016 and 2015.

	Location on Statement of Income and Comprehensive Income	2017			2016			2015
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other comprehensive income (loss)		$2,100			$867			($205	)
Foreign currency option contracts	Other comprehensive income (loss)	(52		)	1,035			370
Interest rate swaps	Other comprehensive income (loss)	4,214			21,422			(10,197		)
Derivatives designated as a net investment hedge:
Foreign currency exchange contract	Other comprehensive income (loss)	—			—			2,875
Foreign currency option contracts	Other comprehensive income (loss)	—			(4,606		)	4,606
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other operating (income) expense, net	—			895			—
	Interest income and miscellaneous income (expense), net	47			—			—
Foreign currency option contracts	Other operating (income) expense, net	—			258			1,394
Interest rate swaps	Interest income and miscellaneous income (expense), net	—			(1,219		)	(4,391		)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table contains the notional amounts of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2017 and 2016:

	Notional Amount
	2017		2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts		$107,400		$44,800
Foreign currency option contracts	48,000		91,000
Interest rate swaps	650,000		650,000
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	18,439		—

Schedule of Derivative Instruments in Statement of Financial Position

The following table contains the fair values of the derivative financial instruments recorded in the Consolidated Balance Sheets at December 31, 2017 and 2016. Changes in balances of derivative financial instruments are recorded as operating activities in the Consolidated Statements of Cash Flows.

		Fair Value Assets (Liabilities) (a)
	Location on Balance Sheet	2017			2016
Derivatives designated as cash flow hedges:
Foreign currency exchange contracts	Other current assets		$2,286			$692
	Other assets	538			33
	Other current liabilities	(37		)	(261		)
Foreign currency option contracts	Other current assets	389			1,064
	Other assets	137			327
	Other current liabilities	(119		)	(574		)
	Other non-current liabilities	(55		)	(426		)
Interest rate swaps	Other assets	17,473			17,204
	Other non-current liabilities	(2,033		)	(5,979		)
Derivatives not designated as hedging instruments:
Foreign currency exchange contracts	Other current assets	209			—
	Other current liabilities	(189		)	—
Total derivative contracts:
Other current assets			$2,884			$1,756
Other assets		18,148			17,564
Total derivative assets			$21,032			$19,320
Other current liabilities		(345		)	(835		)
Other non-current liabilities		(2,088		)	(6,405		)
Total derivative liabilities			($2,433	)		($7,240	)

(a) See Note 14 — Fair Value Measurements for further information on the fair value of our derivatives including their classification within the fair value hierarchy.