Derivatives (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Balance Sheet, Fair Value

The fair value of derivative instruments on our Consolidated Balance Sheets as of December 31 consisted of the following:



	2018				2017
	Fair Value Asset Derivatives		Fair Value Liability Derivatives		Fair Value Asset Derivatives		Fair Value Liability Derivatives
Derivatives designated as hedging instruments:
Foreign currency option contracts⁽¹⁾	$	245	$	—	$	86	$	—
Foreign currency forward contracts⁽¹⁾	6,987		25,415		7,218		34,961
Derivatives not designated as hedging instruments:
Foreign currency forward contracts⁽¹⁾	$	223	$	—	$	442	$	425

⁽¹⁾

Contracts that mature within the next 12 months are included in Other Current Assets and Other Current Liabilities for asset derivatives and liabilities derivatives, respectively, on our Consolidated Balance Sheets. Contracts with maturities greater than 12 months are included in Other Assets and Other Liabilities for asset derivatives and liability derivatives, respectively, in our Consolidated Balance Sheets. Amounts included in our Consolidated Balance Sheets are recorded net where a right of offset exists with the same derivative counterparty.

Schedule of Derivative Instruments, Gain (Loss)

The effect of foreign currency derivative instruments designated as cash flow hedges and foreign currency derivative instruments not designated as hedges in our Consolidated Statements of Earnings for the three years ended December 31 were as follows:



	2018						2017						2016
	Foreign Currency Option Contracts			Foreign Currency Forward Contracts			Foreign Currency Option Contracts			Foreign Currency Forward Contracts			Foreign Currency Option Contracts			Foreign Currency Forward Contracts
Derivatives in cash flow hedging relationships:
Net gain (loss) recognized in Other Comprehensive Income (Loss), net of tax⁽¹⁾	$	100		$	9,025		$	(193	)	$	(16,226	)	$	(259	)	$	(73	)
Net (loss) gain reclassified from Accumulated Other Comprehensive Loss into earnings, net of tax, effective portion to Net Sales	(110		)	(18		)	(178		)	(37		)	(148		)	7
Net gain reclassified from Accumulated Other Comprehensive Loss in earnings, net of tax, effective portion to Interest Income	—			1,870			—			1,198			—			—
Net gain (loss) reclassified from Accumulated Other Comprehensive Loss into earnings, net of tax, effective portion to Net Foreign Currency Transaction Losses	—			6,353			—			(12,555		)	—			—
Net gain (loss) recognized in earnings⁽²⁾	8			12			(13		)	10			(11		)	2
Derivatives not designated as hedging instruments:
Net loss recognized in earnings⁽³⁾	$	—		$	(2,518	)	$	—		$	(6,161	)	$	—		$	(890	)


⁽¹⁾	Net change in the fair value of the effective portion classified in Other Comprehensive Income (Loss).


⁽²⁾	Ineffective portion and amount excluded from effectiveness testing classified in Net Foreign Currency Transaction Losses.


⁽³⁾	Classified in Net Foreign Currency Transaction Losses.