Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Commodity option and futures contract commitments for non monetary notional amount

The following summarizes the company’s futures contract commitments as of March 31, 2015 (MT represents metric tons and Lbs represents pounds):

Commodity Futures	Long/Short	Total
Aluminum	Long	3,825	MT
Aluminum	Short	4,175	MT
Copper	Long	6,267	MT
Copper	Short	16,561	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

The following summarizes the location and amounts of the fair values reported on the company’s balance sheets as of March 31, 2015, and December 31, 2014, and gains and losses related to derivatives included in the company’s statement of income for the three-month periods ended March 31, 2015, and 2014 (in thousands):

	Asset Derivatives					Liability Derivatives
		Fair Value				Fair Value
	Balance sheet location	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
Derivative instruments designated as fair value hedges -
Commodity futures	Other current assets	$	688	$	3,180	$	2,734	$	913

Derivative instruments not designated as hedges -
Commodity futures	Other current assets	1,216		2,132		1,762		626

Total derivative instruments		$	1,904	$	5,312	$	4,496	$	1,539

	Location of gain (loss) recognized	Amount of gain (loss) recognized in income on derivatives for the three months ended					Hedged items	Location of gain (loss) recognized	Amount of gain (loss) recognized in income on related hedged items for the three months ended
	in income on	March 31,			March 31,		in fair value hedge	in income on	March 31,		March 31,
	derivatives	2015			2014		relationships	derivatives	2015		2014
Derivatives in fair value hedging relationships -
Commodity futures	Costs of goods sold	$	(4,313	)	$	1,617	Firm commitments	Costs of goods sold	$	494	$	984
							Inventory	Costs of goods sold	2,656		(2,488		)
									$	3,150	$	(1,504	)

Derivatives not designated as hedging instruments -
Commodity futures	Costs of goods sold	$	6,996		$	7,956