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Derivative Instruments and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities  
Summary of the company's outstanding derivative contracts and their effects on its Condensed Consolidated Statements of Financial Position

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March 31, 2025

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Notional

    

    

    

    

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Amounts

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Assets

​

Liabilities

Derivatives designated as hedging instruments:

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​

​

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Foreign currency derivatives

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$

19,625

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$

—

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$

(620)

Commodity derivatives

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15,223

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326

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(549)

Total derivatives

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$

326

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$

(1,169)

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December 31, 2024

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Notional

    

    

    

    

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Amounts

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Assets

​

Liabilities

Derivatives designated as hedging instruments:

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Foreign currency derivatives

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$

26,129

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$

—

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$

(818)

Commodity derivatives

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20,959

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39

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(2,205)

Total derivatives

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$

39

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$

(3,023)

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March 31, 2024

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Notional

    

    

    

    

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Amounts

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Assets

​

Liabilities

Derivatives designated as hedging instruments:

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Foreign currency derivatives

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$

9,646

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$

25

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$

(54)

Commodity derivatives

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24,413

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211

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(770)

Total derivatives

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$

236

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$

(824)

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

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For Quarter Ended March 31, 2025

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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 derivatives

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$

(39)

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$

(237)

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$

—

Commodity derivatives

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​

1,052

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(891)

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​

—

Total

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$

1,013

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$

(1,128)

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$

—

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For Quarter Ended March 31, 2024

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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 derivatives

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$

(358)

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$

(26)

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$

—

Commodity derivatives

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1,558

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(409)

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—

Total

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$

1,200

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$

(435)

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$

—

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