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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2012
Derivative Financial Instruments  
Commodity option and futures contract commitments for non monetary notional amount

 

 

Commodity Options — nickel

 

 

 

60

 

MT

 

Commodity Futures

 

Long/Short

 

Total

 

 

Aluminum

 

Long

 

8,400

 

MT

Aluminum

 

Short

 

5,225

 

MT

Copper

 

Long

 

4,559

 

MT

Copper

 

Short

 

11,215

 

MT

Nickel

 

Long

 

132

 

MT

Nickel

 

Short

 

192

 

MT

Silver

 

Short

 

686

 

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

 

 

 

March 31, 2012

 

December 31, 2011

 

Commodity futures and options — net asset

 

Other current assets

 

$

784

 

$

 

Commodity futures — net liability

 

Accrued expenses

 

 

1,219

 

 

 

 

 

 

Gain (Loss) for Three Months Ended

 

Statements of Income

 

 

 

March 31, 2012

 

March 31, 2011

 

Commodity futures

 

Costs of goods sold

 

$

(3,618

)

$

2,923