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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
The following table presents the notional contract amounts for forward contracts outstanding:

As of
FASB ASC Topic 815 DesignationJune 30, 2022December 31, 2021
Forward exchange contractsCash flow hedge$191,288 $172,894 
Forward exchange contractsNon-designated41,704 38,897 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
Foreign exchange contracts designated as cash flow hedges had the following effects on accumulated other comprehensive income (loss) ("AOCI") and net earnings (loss) on our consolidated condensed statements of comprehensive income (loss) and our consolidated condensed balance sheets:

Amount of Gain (Loss) Recognized in AOCIConsolidated Condensed Statements of Comprehensive Income (Loss)Amount of Gain (Loss) Reclassified from AOCI
Three Months Ended June 30,
Total Amount of Line Item Presented
Derivative Instrument20222021Location of amount reclassified2022202120222021
Foreign exchange contracts$9,756 $(3)Net Sales$277,190 $255,161 $3,403 $(2,022)
 Cost of Sales125,413 113,737 199 410 
Pre-tax gain (loss)$9,756 $(3)$3,602 $(1,612)
Tax expense (benefit)2,365 (1)873 (389)
Net gain (loss)$7,391 $(2)$2,729 $(1,223)

Amount of Gain Recognized in AOCIConsolidated Condensed Statements of Comprehensive Income (Loss)Amount of Gain (Loss) Reclassified from AOCI
Six Months Ended June 30,
Total Amount of Line Item Presented
Derivative Instrument20222021Location of amount reclassified2022202120222021
Foreign exchange contracts$13,003 $3,590 Net Sales$519,516 $487,837 $5,147 $(3,871)
Cost of Sales231,748 217,964 274 675 
Pre-tax gain (loss)$13,003 $3,590 $5,421 $(3,196)
Tax expense (benefit)3,152 867 1,314 (772)
Net gain (loss)$9,851 $2,723 $4,107 $(2,424)
Derivatives Not Designated as Hedging Instruments
Net gains and losses from derivative instruments not accounted for as hedges and gains and losses on our intercompany receivables on our consolidated condensed statements of comprehensive income were:

Three Months Ended June 30,Six Months Ended June 30,
Derivative InstrumentLocation on Consolidated Condensed Statements of Comprehensive Income (Loss)2022202120222021
  
Net gain (loss) on currency forward contractsSelling and administrative expense$1,155 $(809)$196 $(350)
Net gain (loss) on currency transaction exposuresSelling and administrative expense$(2,178)$243 $(1,764)$(879)
Schedule of Fair Value for Forward Foreign Exchange Contracts The following tables summarize the fair value for forward foreign exchange contracts outstanding at June 30, 2022 and December 31, 2021:
June 30, 2022Location on Consolidated Condensed Balance SheetAsset Fair ValueLiabilities Fair ValueNet
Fair
Value
Derivatives designated as hedged instruments:   
Foreign exchange contractsPrepaid expenses and other current assets$10,242 $(56)$10,186 
Foreign exchange contractsOther long-term assets2,272 (50)2,222 
$12,514 $(106)$12,408 
Derivatives not designated as hedging instruments:   
Foreign exchange contractsOther current liabilities15 (262)(247)
Total derivatives$12,529 $(368)$12,161 

December 31, 2021Location on Consolidated Condensed Balance SheetAsset Fair ValueLiabilities Fair ValueNet
Fair
Value
Derivatives designated as hedged instruments:  
Foreign exchange contracts Prepaid expenses and other current assets$5,331 $(430)$4,901 
Foreign exchange contractsOther long-term liabilities82 (161)(79)
$5,413 $(591)$4,822 
Derivatives not designated as hedging instruments:  
Foreign exchange contractsOther current liabilities38 (180)(142)
Total derivatives$5,451 $(771)$4,680