Hedging Transactions and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional values of outstanding derivative positions and volume of copper contracts outstanding

As of December 31, 2020 the notional values of these foreign currency forward contracts were as follows:

Notional Values of Foreign Currency Derivatives
USD/CNH	$	28,766,855
EUR/USD	€	8,151,124
KRW/USD	₩	10,893,500,000

As of December 31, 2020, the volume of our copper contracts outstanding were as follows:

Volume of Copper Derivatives
January 2021 - March 2021	256 metric tons per month
April 2021 - June 2021	256 metric tons per month
July 2021 - September 2021	222 metric tons per month
October 2021 - December 2021	222 metric tons per month

Schedule of gain (loss) on derivative instruments

Effects on Financial Statements

The following table presents the impact from these instruments on the statement of operations and statements of comprehensive income:

		Years Ended December 31,
(Dollars in thousands)	Financial Statement Line Item	2020		2019		2018
Foreign Currency Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	(1,981)	$	(779)	$	(333)
Copper Derivatives Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	3,610	$	(716)	$	(2,101)
Interest Rate Swap Contract
Contract designated as hedging instrument	Other comprehensive income (loss)	$	1,254	$	(1,715)	$	420