Hedging Transactions and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional values of outstanding derivative positions

As of December 31, 2018, the volume of our copper contracts outstanding were as follows:

Volume of Copper Derivatives
January 2019 - March 2019	189 metric tons per month
April 2019 - June 2019	188 metric tons per month
July 2019 - September 2019	191 metric tons per month
October 2019 - December 2019	195 metric tons per month
January 2020 - March 2020	202 metric tons per month

As of December 31, 2018 the notional values of these foreign currency forward contracts were as follows:

Notional Values of Foreign Currency Derivatives
KRW/USD	₩	1,325,760,000
JPY/EUR	¥	675,000,000
EUR/USD	€	10,449,335
USD/CNY	$	23,655,942

Gain (loss) on derivative instruments

Effects on Financial Statements

		The Effect of Current Derivative Instruments on the Financial Statements for the period ended December 31, 2018			Fair Values of Derivative Instruments as of December 31, 2018
(Dollars in thousands)	Location	Gain (Loss)			Other Assets/ (Other Liabilities)(1)
Foreign Exchange Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	(333	)	$	522
Copper Derivatives
Contracts not designated as hedging instruments	Other income (expense), net	$	(2,101	)	$	583
Interest Rate Swap
Contract designated as hedging instrument	Other comprehensive income (loss)	$	420		$	461

		The Effect of Current Derivative Instruments on the Financial Statements for the period ended December 31, 2017			Fair Values of Derivative Instruments as of December 31, 2017
(Dollars in thousands)	Location	Gain (Loss)			Other Assets/ (Other Liabilities)(1)
Foreign Exchange Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	(7	)	$	(396	)
Copper Derivatives
Contracts not designated as hedging instruments	Other income (expense), net	$	1,928		$	2,016
Interest Rate Swap
Contract designated as hedging instrument	Other comprehensive income (loss)	$	41		$	41

⁽¹⁾ All balances were recorded in the “Other current assets” or “Other accrued liabilities” line items in the consolidated statements of financial position, except the 2018 interest rate swap balance, which was recorded in the “Other long-term assets” line item in the consolidated statements of financial position.