Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivatives by Balance Sheet Line Item

The following tables display the fair value of derivatives by balance sheet line item at June 30, 2018 and December 31, 2017:

	June 30, 2018
	Other		Other				Other
	Current Assets		Non-current Assets		Accrued Liabilities		Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts and collars designated as hedging instruments	$	1,015	$	532	$	4,413	$	13,503
Foreign exchange forward contracts not designated as hedging instruments		266		—		3		—
Aluminum forward contracts designated as hedging instruments		842		—		—		—
Cross currency swap not designated as a hedging instrument		—		—		949		—
Interest rate swap contracts designated as hedging instruments		—		75		293		—
Embedded derivative liability		—		—		—		8,375
Total derivative financial instruments	$	2,123	$	607	$	5,658	$	21,878

	December 31, 2017
	Other		Other				Other
	Current Assets		Non-current Assets		Accrued Liabilities		Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts and collars designated as hedging instruments	$	3,065	$	723	$	4,922	$	8,405
Foreign exchange forward contracts not designated as hedging instruments		721		—		206		—
Aluminum forward contracts not designated as hedging instruments		1,833		—		—		—
Cross currency swap not designated as a hedging instrument		—		—		1,467		1,106
Embedded derivative liability		—		—		—		4,685
Total derivative financial instruments	$	5,619	$	723	$	6,595	$	14,196

Summary of Notional Amount and Estimated Fair Value of Derivative Financial Instruments

The following table summarizes the notional amount and estimated fair value of our derivative financial instruments:

	June 30, 2018					December 31, 2017
	Notional U.S. Dollar Amount		Fair Value			Notional U.S. Dollar Amount		Fair Value
(Dollars in thousands)
Foreign currency forward contracts and collars designated as hedging instruments	$	500,489	$	(16,369	)	$	397,744	$	(9,539	)
Foreign currency forward contracts and collars not designated as hedging instruments		25,125		263			23,305		515
Aluminum forward contracts designated as hedging instruments		15,761		842			—		—
Aluminum forward contracts not designated as hedging instruments		—		—			15,564		1,833
Cross currency swap not designated as a hedging instrument		23,735		(949	)		36,454		(2,573	)
Interest rate swap contracts designated as hedging instruments		130,000		(218	)		—		—
Total derivative financial instruments	$	695,110	$	(16,431	)	$	473,067	$	(9,764	)

Schedule of Impact of Derivative Instruments Designated as Cash Flow Hedges

The following table provides the impact of derivative instruments designated as cash flow hedges on our consolidated statement of operations:

Three Month Period Ended June 30, 2018	Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)			Amount of Pre-tax Gain or (Loss) Recognized in Income  on Derivatives (Amount Excluded from Effectiveness Testing)
(Dollars in thousands)
Derivative contracts	$	(17,989	)	$	(539	)	$	435
Total	$	(17,989	)	$	(539	)	$	435

Six Month Period Ended June 30, 2018	Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)			Amount of Pre-tax Gain or (Loss) Recognized in Income  on Derivatives (Amount Excluded from Effectiveness Testing)
(Dollars in thousands)
Derivative contracts	$	(4,079	)	$	46		$	(309	)
Total	$	(4,079	)	$	46		$	(309	)
Three Month Period Ended June 25, 2017	Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)			Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives (Amount Excluded from Effectiveness Testing)
(Dollars in thousands)
Derivative contracts	$	10,568		$	(1,091	)	$	(1,619	)
Total	$	10,568		$	(1,091	)	$	(1,619	)
Six Month Period Ended June 25, 2017	Amount of Gain or (Loss) Recognized in AOCI on Derivatives (Effective Portion)			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income (Effective Portion)			Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives (Amount Excluded from Effectiveness Testing)
(Dollars in thousands)
Derivative contracts	$	27,627		$	(3,582	)	$	(1,451	)
Total	$	27,627		$	(3,582	)	$	(1,451	)