Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency derivatives	$	10,951	$	187	$	-
Commodity derivatives		18,682		489		(716)
Total derivatives			$	676	$	(716)
	December 31, 2023
	Notional
	Amounts		Assets		Liabilities
Derivatives designated as hedging instruments:
Foreign currency derivatives	$	16,337	$	302	$	—
Commodity derivatives		28,247		16		(2,542)
Total derivatives			$	318	$	(2,542)
	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)

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, 2024
					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	$	207	$	(25)	$	—
Commodity derivatives		803		(456)		—
Total	$	1,010	$	(481)	$	—
	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 Year to Date Ended September 30, 2024
					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	$	(265)	$	(151)	$	—
Commodity derivatives		755		(1,543)		—
Total	$	490	$	(1,694)	$	—
	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)	$	—