Derivatives (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

We forecast our net exposure in various receivables and payables to fluctuations in the value of various currencies, and we enter into foreign currency forward contracts to mitigate that exposure. We enter into approximately 20 foreign currency fair value hedges every month. As of December 31, 2018, we had entered into foreign currency forward contracts related to those balance sheet accounts with the following notional amounts (in thousands and in local currencies):

Currency	Symbol	Forward Notional Amount
Australian Dollar	AUD	11,400
Brazilian Real	BRL	9,000
Canadian Dollar	CAD	2,300
Swiss Franc	CHF	269
Chinese Renminbi	CNY	63,200
Danish Krone	DKK	3,237
Euro	EUR	5,927
British Pound	GBP	2,358
Hong Kong Dollar	HKD	11,000
Japanese Yen	JPY	265,000
Korean Won	KRW	5,500,000
Mexican Peso	MXN	23,000
Swedish Krona	SEK	9,627
Singapore Dollar	SGD	8,500

We enter into approximately 150 cash flow foreign currency hedges every month. As of December 31, 2018, we had entered into foreign currency forward contracts, which qualified as cash flow hedges, with the following notional amounts (in thousands and in local currencies):

Currency	Symbol	Forward Notional Amount
Australian Dollar	AUD	3,000
Canadian Dollar	CAD	4,410
Swiss Franc	CHF	2,145
Chinese Renminbi	CNY	160,000
Danish Krone	DKK	17,225
Euro	EUR	20,310
British Pound	GBP	5,280
Japanese Yen	JPY	1,145,000
Korean Won	KRW	3,050,000
Mexican Peso	MXN	230,000
Swedish Krona	SEK	30,210

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

The fair value of derivative instruments on a gross basis is as follows (in thousands):

		Fair Value
	Balance Sheet Location	December 31, 2018			December 31, 2017
Derivatives designated as hedging instruments
Assets
Interest rates swaps	Other assets (long-term)	$	5,772		$	5,749
Foreign currency forward contracts	Prepaid expenses and other assets	613			363
Foreign currency forward contracts	Other assets (long-term)	151			35
Liabilities
Foreign currency forward contracts	Accrued expenses	(711		)	(468		)
Foreign currency forward contracts	Other long-term obligations	(101		)	(82		)
Derivatives not designated as hedging instruments
Assets
Foreign currency forward contracts	Prepaid expenses and other assets	$	814		$	223
Liabilities
Foreign currency forward contracts	Accrued expenses	(796		)	(841		)

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

Derivative instruments designated as cash flow hedges had the following effects, before income taxes, on other comprehensive income ("OCI"), accumulated other comprehensive income ("AOCI") and net earnings in our consolidated statements of income, consolidated statements of comprehensive income and consolidated balance sheets (in thousands):

	Amount of Gain/(Loss) recognized in OCI							Amount of Gain/(Loss) reclassified from AOCI
	Year ended December 31,							Year ended December 31,
	2018	2017		2016				2018	2017		2016
Derivative instrument							Location in statements of income
Interest rate swaps	$1,559	$	853	$	4,989		Interest Expense	$1,537	95		(718	)
Foreign currency forward contracts	539	491		(205		)	Revenue	136	(277	)	21
							Cost of goods sold	361	625		(26	)

Derivative Instruments, Gain (Loss)

The following gains/(losses) from these derivative instruments were recognized in our consolidated statements of income for the years presented (in thousands):

		Year ended December 31,
		2018		2017			2016
Derivative Instrument	Location in statements of income
Foreign currency forward contracts	Other expense	$	4,147	$	(4,746	)	$	69