Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities

Summary of the company's outstanding derivative contracts and their effects on its condensed consolidated statements of financial position

	September 30, 2023
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency derivatives	$	10,498	$	1	$	(142)
Commodity derivatives		19,063		1,554		-
Total derivatives			$	1,555	$	(142)
	December 31, 2022
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency derivatives	$	7,264	$	-	$	(282)
Commodity derivatives		189		10		-
Total derivatives			$	10	$	(282)
	September 30, 2022
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency derivatives	$	6,782	$	26	$	(392)
Commodity derivatives		1,009		1		(32)
Total derivatives			$	27	$	(424)

Summary of the effects of derivative instruments on the consolidated statement of earnings and retained earnings, and the condensed consolidated statement of comprehensive earnings

	For Quarter Ended September 30, 2023
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency derivatives	$	(276)	$	(27)	$	-
Commodity derivatives		2,354		(6)		-
Total	$	2,078	$	(33)	$	-
	For Quarter Ended September 30, 2022
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency derivatives	$	(483)	$	48	$	-
Commodity derivatives		(59)		73		-
Total	$	(542)	$	121	$	-
	For Year to Date Ended September 30, 2023
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency derivatives	$	(23)	$	(163)	$	-
Commodity derivatives		1,631		87		-
Total	$	1,608	$	(76)	$	-
	For Year to Date Ended September 30, 2022
					Gain (Loss)
			Gain (Loss)		on Amount Excluded
	Gain (Loss)		Reclassified from		from Effectiveness
	Recognized		Accumulated OCI		Testing Recognized
	in OCI		into Earnings		in Earnings
Foreign currency derivatives	$	(556)	$	236	$	-
Commodity derivatives		6		162		-
Total	$	(550)	$	398	$	-