FINANCIAL DERIVATIVE INSTRUMENTS (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

As of June 30, 2020 and December 31, 2019, the fair value carrying amount of the Company’s derivative instruments were recorded as follows (in thousands):

		Asset / (Liability) Derivatives
	Balance Sheet Caption	June 30, 2020		December 31, 2019
Derivatives designated as hedging instruments
Commodity swap contracts	Prepaid expenses and other	$	347	$	1,290
Commodity swap contracts	Other accrued liabilities	(5,083)		(3,216)
Total derivatives designated as hedging instruments		$	(4,736)	$	(1,926)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the gain or loss recognized in AOCI as of June 30, 2020 and December 31, 2019 and the amounts reclassified from AOCI into earnings for the three and six months ended June 30, 2020 and 2019 (in thousands):

	Amount of Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion, net of tax)				Location of Gain (Loss) Reclassified from AOCI into Earnings (Effective Portion)	Amount of Gain (Loss) Reclassified from AOCI into Earnings
	June 30, 2020		December 31, 2019			Three Months Ended June 30,				Six Months Ended June 30,
						2020		2019		2020		2019
Derivatives instruments
Commodity swap contracts	$	(3,731)	$	(2,112)	Cost of sales	$	(2,398)	$	(478)	$	(4,183)	$	(646)