Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Summary of Derivative Instruments [Abstract]

Summary Of Location And Fair Value Of Derivative Financial Instruments

The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022:

	June 30, 2023			December 31, 2022
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts	Prepaid expenses and other	$	—	Prepaid expenses and other	$	48
Liability derivatives: Aluminum futures contracts	Accrued expenses	(3,050)		Accrued expenses	(3,260)
Aluminum futures contracts	Other non-current liabilities	(255)		Other non-current liabilities	(369)
Net asset (liability)		$	(3,305)		$	(3,581)

The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022:

	June 30, 2023			December 31, 2022
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Foreign currency forward contracts	Prepaid expenses and other	$	2,974	Prepaid expenses and other	$	781
Foreign currency forward contracts	Other assets	723		Other assets	33
Liability derivatives: Foreign currency forward contracts	Accrued expenses	—		Other non-current liabilities	(3)
Net asset (liability)		$	3,697		$	811

Derivative, Description of Hedged Item

Terphane Ltda. had the following outstanding foreign exchange average forward rate contracts to purchase Brazilian Real and sell U.S. Dollars as of June 30, 2023:

USD Notional Amount (000s)	Average Forward Rate Contracted on USD/BRL	R$ Equivalent Amount (000s)	Applicable Month	Estimated % of Terphane Ltda. R$ Operating Cost Exposure Hedged
$2,154	5.6378	R$12,144	Jul-23	83%
$2,020	5.6831	R$11,480	Aug-23	78%
$2,071	5.7174	R$11,841	Sep-23	80%
$2,013	5.7556	R$11,586	Oct-23	79%
$2,018	5.7836	R$11,671	Nov-23	79%
$1,786	5.8312	R$10,414	Dec-23	71%
$659	5.7360	R$3,780	Jan-24	23%
$659	5.7562	R$3,793	Feb-24	23%
$659	5.7774	R$3,807	Mar-24	23%
$659	5.8000	R$3,822	Apr-24	23%
$659	5.8207	R$3,836	May-24	24%
$659	5.8419	R$3,850	Jun-24	24%
$659	5.8636	R$3,864	Jul-24	24%
$659	5.8872	R$3,880	Aug-24	24%
$659	5.9118	R$3,896	Sep-24	24%
$659	5.9350	R$3,911	Oct-24	24%
$659	5.9581	R$3,926	Nov-24	24%
$659	5.9813	R$3,942	Dec-24	24%
$19,970	5.7808	R$115,443		40%

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022:

	June 30, 2023			December 31, 2022
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts	Prepaid expenses and other	$	—	Prepaid expenses and other	$	48
Liability derivatives: Aluminum futures contracts	Accrued expenses	(3,050)		Accrued expenses	(3,260)
Aluminum futures contracts	Other non-current liabilities	(255)		Other non-current liabilities	(369)
Net asset (liability)		$	(3,305)		$	(3,581)

The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022:

	June 30, 2023			December 31, 2022
(In thousands)	Balance Sheet Account	Fair Value		Balance Sheet Account	Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Foreign currency forward contracts	Prepaid expenses and other	$	2,974	Prepaid expenses and other	$	781
Foreign currency forward contracts	Other assets	723		Other assets	33
Liability derivatives: Foreign currency forward contracts	Accrued expenses	—		Other non-current liabilities	(3)
Net asset (liability)		$	3,697		$	811

Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges

The pre-tax effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three and six month periods ended June 30, 2023 and 2022 is summarized in the table below:

	Cash Flow Derivative Hedges
	Three Months Ended June 30,
	Aluminum Futures Contracts				Foreign Currency Forwards
(In thousands)	2023		2022		2023				2022
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	$	557	$	(9,923)	$	—	$	1,931	$	—	$	(1,758)
Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion)	Cost of goods sold		Cost of goods sold		Cost of goods sold		Selling, general & admin		Cost of goods sold		Selling, general & admin
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	$	885	$	293	$	15	$	721	$	15	$	532
	Six Months Ended June 30,
	Aluminum Futures Contracts				Foreign Currency Forwards
	2023		2022		2023				2022
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)	$	1,959	$	(3,741)	$	—	$	3,606	$	—	$	2,063
Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion)	Cost of goods sold		Cost of goods sold		Cost of goods sold		Selling, general & admin		Cost of goods sold		Selling, general & admin
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)	$	1,557	$	1,298	$	30	$	1,007	$	30	$	669