Derivatives and Hedging (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

As of December 31, 2023, the notional values of these foreign currency forward contracts were as follows:

Notional Values of Foreign Currency Derivatives
USD/CNH	$	25,900,000
KRW/USD	₩	1,291,700,000
EUR/USD	€	12,600,000
JPY/EUR	¥	250,000,000

As of December 31, 2023, the volume of our copper contracts outstanding were as follows:

Volume of Copper Derivatives
January 2024 - March 2024	69 metric tons per month
April 2024 - June 2024	69 metric tons per month
July 2024 - September 2024	69 metric tons per month
October 2024 - December 2024	69 metric tons per month

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

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

		Years Ended December 31,
(Dollars in millions)	Financial Statement Line Item	2023		2022		2021
Foreign Currency Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	1.0	$	(0.3)	$	(2.9)
Copper Derivatives Contracts
Contracts not designated as hedging instruments	Other income (expense), net	$	(0.6)	$	0.8	$	3.9

Schedule of Derivative Instruments Measured at Fair Value on a Recurring Basis

The fair values of derivative instruments measured at fair value on a recurring basis, categorized by contract type and level of inputs used in the valuation, were as follows:

	Derivative Instruments at Fair Value as of December 31, 2023
(Dollars in millions)	Level 1		Level 2		Level 3		Total(1)
Foreign currency contracts	$	—	$	(0.2)	$	—	$	(0.2)
Copper derivative contracts	$	—	$	0.4	$	—	$	0.4

	Derivative Instruments at Fair Value as of December 31, 2022
(Dollars in millions)	Level 1		Level 2		Level 3		Total(1)
Foreign currency contracts	$	—	$	(0.1)	$	—	$	(0.1)
Copper derivative contracts	$	—	$	0.5	$	—	$	0.5

(1) All balances were recorded in the “Other current assets” or the “Other accrued liabilities” line items in the consolidated statements of financial position.