XML 31 R22.htm IDEA: XBRL DOCUMENT v3.22.1
Derivative Instruments and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities  
Summary of the Company's outstanding derivative contracts and their effects on the Consolidated Statements of Financial Position

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March 31, 2022

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Notional

    

    

    

    

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Amounts

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Assets

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Liabilities

Derivatives designated as hedging instruments:

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Foreign currency forward contracts

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$

5,340

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$

400

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$

-

Commodity futures contracts

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2,861

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242

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-

Total derivatives

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$

642

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$

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December 31, 2021

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Notional

    

    

    

    

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Amounts

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Assets

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Liabilities

Derivatives designated as hedging instruments:

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Foreign currency forward contracts

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$

6,729

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$

426

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$

—

Commodity futures contracts

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6,012

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231

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(107)

Total derivatives

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$

657

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$

(107)

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March 31, 2021

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Notional

    

    

    

    

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Amounts

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Assets

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Liabilities

Derivatives designated as hedging instruments:

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Foreign currency forward contracts

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$

5,593

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$

755

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$

-

Commodity futures contracts

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4,362

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675

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(5)

Total derivatives

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$

1,430

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$

(5)

Effects of derivative instruments on the Consolidated Statement of Earnings and Retained Earnings, and the Condensed Consolidated Statement of Comprehensive Earnings

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For Quarter Ended March 31, 2022

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Gain (Loss)

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Gain (Loss)

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on Amount Excluded

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Gain (Loss)

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Reclassified from

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from Effectiveness

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Recognized

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Accumulated OCI

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Testing Recognized

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in OCI

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into Earnings

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in Earnings

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Foreign currency forward contracts

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$

76

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$

102

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$

-

Commodity futures contracts

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145

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27

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-

Total

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$

221

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$

129

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$

-

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For Quarter Ended March 31, 2021

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Gain (Loss)

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Gain (Loss)

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on Amount Excluded

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Gain (Loss)

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Reclassified from

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from Effectiveness

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Recognized

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Accumulated OCI

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Testing Recognized

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in OCI

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into Earnings

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in Earnings

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Foreign currency forward contracts

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$

79

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$

103

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$

-

Commodity futures contracts

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397

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668

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-

Total

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$

476

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$

771

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$

-

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