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