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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2011
Derivative Financial Instruments  
Commodity future contracts commitment for non monetary notional amount

The following summarizes the company’s commodity futures contract commitments as of June 30, 2011 (MT represents metric tons and Lbs represents pounds):

 

Commodity

 

Long/Short

 

Total

 

Aluminum

 

Long

 

3,500

MT

Aluminum

 

Short

 

3,450

MT

Copper

 

Long

 

6,951

MT

Copper

 

Short

 

10,115

MT

Silver

 

Short

 

343

Lbs

Summary of the location and amounts of the fair values and gains or losses related to derivatives included in the entity's financial statements

 

 

 

 

 

Fair Value

 

Balance Sheets

 

 

 

June 30, 2011

 

December 31, 2010

 

Commodity futures net liability

 

Accrued expenses

 

$

310

 

$

4,988

 

 

 

 

 

 

Gain for Three Months Ended

 

Statements of Income

 

 

 

June 30, 2011

 

June 30, 2010

 

Commodity futures contracts

 

Costs of goods sold

 

$

1,422

 

$

2,477

 

 

 

 

 

 

Gain for Six Months Ended

 

Statements of Income

 

 

 

June 30, 2011

 

June 30, 2010

 

Commodity futures contracts

 

Costs of goods sold

 

$

4,345

 

$

4,408