Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Location and Fair Values of Derivative Instruments

The location and fair values of derivative instruments designated as hedging instruments in the Condensed Consolidated Balance Sheets as of September 30, 2025, are shown in the following table:


	As of
	September 30,			December 31,
	2025			2024
Interest rate swaps reported in Other current assets	$	550		$	792
Interest rate swaps reported in Other assets		86			711
Cross-currency swap reported in Other current assets		-			324
Cross-currency swap reported in Accrued expenses and other liabilities		(1,056	)		-
Foreign currency hedges reported in Other current assets		3,760			-
Foreign currency hedges reported in Accrued expenses and other liabilities		-			(2,992	)

Schedule of Effect of Derivative Instruments on Consolidated Statements of Earnings

The effect of derivative instruments on the Condensed Consolidated Statements of Earnings is as follows:


	Three Months Ended					Nine Months Ended
	September 30,			September 30,		September 30,			September 30,
	2025			2024		2025			2024
Foreign Exchange Contracts:
Amounts reclassified from AOCI to earnings:
Net sales	$	(275	)	$	9	$	(547	)	$	106
Cost of goods sold		366			64		(581	)		1,205
Total net gain (loss) reclassified from AOCI to earnings		91			73		(1,128	)		1,311
Total derivative gain (loss) on foreign exchange contracts recognized in earnings	$	91		$	73	$	(1,128	)	$	1,311
Interest Rate Swaps:
Income recorded in Interest expense	$	238		$	364	$	709		$	1,140
Cross-Currency Swap:
Income recorded in Interest expense	$	73		$	86	$	223		$	275
Total net gain (loss) on derivatives	$	402		$	523	$	(196	)	$	2,726

CTS CORP 10-Q