XML 49 R36.htm IDEA: XBRL DOCUMENT v3.20.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Jun. 30, 2020
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of Fair Value of Derivative Instruments in the Consolidated Balance Sheets

Fair Value of Derivative Instruments in the Condensed Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

    

June 30, 2020

    

December 31, 2019

 

​

​

​

​

​

​

Derivatives

​

​

​

Derivatives

​

​

​

​

​

Derivatives

​

not

​

Derivatives

​

not

​

​

​

​

​

Designated

​

Designated

​

Designated

​

Designated

​

​

​

Balance Sheet

​

as Hedging

​

as Hedging

​

as Hedging

​

as Hedging

​

​

​

Location

​

Instruments

​

Instruments

​

Instruments

​

Instruments

 

Derivative Assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

Foreign Exchange Contracts

 

Prepaid and other

​

$

—

​

$

747

​

$

—

​

$

206

​

Cross Currency Swap Contract (1)

 

Prepaid and other

​

 

3,052

​

 

—

​

 

2,552

​

 

—

​

​

​

​

​

$

3,052

​

$

747

​

$

2,552

​

$

206

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivative Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreign Exchange Contracts

 

Accounts payable, accrued and other liabilities

​

$

—

​

$

137

​

$

—

​

$

401

​

​

​

​

​

$

—

​

$

137

​

$

—

​

$

401

​

(1)

This cross currency swap contract is composed of both an interest component and a foreign exchange component.

​

Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Three Months Ended June 30, 2020 and 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of Gain (Loss)

​

Total Amount

​

​

​

Amount of Gain (Loss)

​

Location of (Loss)

​

Reclassified from

​

of Affected

​

Derivatives in Cash

​

Recognized in

​

Gain Recognized

​

Accumulated

​

Income

​

Flow Hedging

​

Other Comprehensive

​

in Income on

​

Other Comprehensive

​

Statement

​

Relationships

​

Income on Derivative

​

Derivatives

​

Income on Derivative

​

Line Item

​

​

  

2020

  

2019

  

​

  

2020

  

2019

  

​

 

Cross currency swap contract:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest component

 

$

(208)

​

$

1,080

​

Interest expense

​

$

525

​

$

1,552

​

$

(8,734)

​

Foreign exchange component

 

​

(3,060)

​

​

(3,084)

​

Miscellaneous, net

​

​

(3,060)

​

​

(3,084)

​

​

(923)

​

​

​

$

(3,268)

​

$

(2,004)

​

​

​

$

(2,535)

​

$

(1,532)

​

​

​

​

​

​

The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) for the Six Months Ended June 30, 2020 and 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of Gain (Loss)

​

Total Amount

​

​

​

Amount of Gain (Loss)

​

Location of (Loss)

​

Reclassified from

​

of Affected

​

Derivatives in Cash

​

Recognized in

​

Gain Recognized

​

Accumulated

​

Income

​

Flow Hedging

​

Other Comprehensive

​

in Income on

​

Other Comprehensive

​

Statement

​

Relationships

​

Income on Derivative

​

Derivatives

​

Income on Derivative

​

Line Item

​

​

  

2020

  

2019

  

​

  

2020

  

2019

  

​

 

Cross currency swap contract:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest component

 

$

2,038

​

$

2,472

​

Interest expense

​

$

1,288

​

$

3,006

​

$

(17,122)

​

Foreign exchange component

 

​

(280)

​

​

1,593

​

Miscellaneous, net

​

​

(280)

​

​

1,593

​

​

(2,335)

​

​

​

$

1,758

​

$

4,065

​

​

​

$

1,008

​

$

4,599

​

​

​

​

​

Schedule of Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Three Months Ended June 30, 2020 and 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of (Loss) Gain

​

Derivatives Not Designated

​

Location of (Loss) Gain Recognized

​

Recognized in Income

​

as Hedging Instruments

​

in Income on Derivatives

​

on Derivatives

​

​

  

​

  

2020

  

2019

 

Foreign Exchange Contracts

 

Other (Expense) Income:
Miscellaneous, net

​

$

(940)

​

$

(251)

​

​

​

​

​

$

(940)

​

$

(251)

​

​

​

The Effect of Derivatives Not Designated as Hedging Instruments on the Condensed Consolidated Statements of Income for the Six Months Ended June 30, 2020 and 2019

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amount of (Loss) Gain

​

Derivatives Not Designated

​

Location of (Loss) Gain Recognized

​

Recognized in Income

​

as Hedging Instruments

​

in Income on Derivatives

​

on Derivatives

​

​

​

​

​

2020

​

2019

 

Foreign Exchange Contracts

 

Other (Expense) Income:
Miscellaneous, net

​

$

807

​

$

(514)

​

​

​

​

​

$

807

​

$

(514)

​

​

Schedule of offsetting derivative assets and liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross Amounts not Offset

​

​

​

 

​

​

​

​

​

Gross Amounts

​

Net Amounts

​

in the Statement of

​

​

​

 

​

​

​

​

​

Offset in the

​

Presented in

​

Financial Position

​

​

​

 

​

 

Gross

​

Statement of

​

the Statement of

​

Financial

​

Cash Collateral

​

Net

 

​

​

Amount

​

Financial Position

​

Financial Position

​

Instruments

​

Received

​

Amount

 

Description

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

June 30, 2020

​

Derivative Assets

​

$

3,799

 

—

​

$

3,799

 

—

 

—

​

$

3,799

​

Total Assets

​

$

3,799

 

—

​

$

3,799

 

—

 

—

​

$

3,799

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivative Liabilities

​

$

137

 

—

​

$

137

 

—

 

—

​

$

137

​

Total Liabilities

​

$

137

 

—

​

$

137

 

—

 

—

​

$

137

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2019

​

Derivative Assets

​

$

2,758

 

—

​

$

2,758

 

—

 

—

​

$

2,758

​

Total Assets

​

$

2,758

 

—

​

$

2,758

 

—

 

—

​

$

2,758

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivative Liabilities

​

$

401

 

—

​

$

401

 

—

 

—

​

$

401

​

Total Liabilities

​

$

401

 

—

​

$

401

 

—

 

—

​

$

401

​