Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020 and December 31, 2019:

	September 30, 2020
	Other Current Assets		Other Non-current Assets		Accrued Liabilities		Other Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	794	$	867	$	7,753	$	10,293
Foreign exchange forward contracts not    designated as hedging instruments		7		—		466		—
Aluminum forward contracts designated as    hedging instruments		—		—		123		—
Natural gas forward contracts designated as    hedging instruments		837		511		142		39
Interest rate swap contracts designated as hedging    instruments		—		—		4,872		5,296
Total derivative financial instruments	$	1,638	$	1,378	$	13,356	$	15,628

	December 31, 2019
	Other Current Assets		Other Non-current Assets		Accrued Liabilities		Other Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	7,808	$	12,821	$	60	$	100
Foreign exchange forward contracts not    designated as hedging instruments		1,196		—		554		—
Aluminum forward contracts designated as    hedging instruments		60		—		127		—
Natural gas forward contracts designated as    hedging instruments		81		7		1,312		727
Interest rate swap contracts designated as hedging    instruments		—		—		2,304		3,525
Total derivative financial instruments	$	9,145	$	12,828	$	4,357	$	4,352

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:

	September 30, 2020					December 31, 2019
	Notional U.S. Dollar Amount		Fair Value			Notional U.S. Dollar Amount		Fair Value
(Dollars in thousands)
Foreign currency forward contracts designated as    hedging instruments	$	431,025	$	(16,385	)	$	449,181	$	20,469
Foreign exchange forward contracts not designated    as hedging instruments		15,539		(459	)		73,491		642
Aluminum forward contracts designated as    hedging instruments		4,971		(123	)		9,405		(67	)
Natural gas forward contracts designated as hedging    instruments		6,254		1,167			5,816		(1,951	)
Interest rate swap contracts designated as hedging    instruments		235,000		(10,168	)		260,000		(5,829	)
Total derivative financial instruments	$	692,789	$	(25,968	)	$	797,893	$	13,264

Summary of Gain or Loss Recognized in AOCI

The following tables summarize the gain or loss recognized in AOCI as of September 30, 2020 and 2019, the amounts reclassified from AOCI into earnings and the amounts recognized directly into earnings for the three and nine months ended September 30, 2020 and 2019:

Three Months Ended September 30, 2020	Amount of Gain or (Loss) Recognized in AOCI on Derivatives			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income			Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative Contracts	$	4,683		$	(2,261	)	$	3,458
Total	$	4,683		$	(2,261	)	$	3,458
Nine Months Ended September 30, 2020	Amount of Gain or (Loss) Recognized in AOCI on Derivatives			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income			Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative Contracts	$	(25,316	)	$	(7,355	)	$	(289	)
Total	$	(25,316	)	$	(7,355	)	$	(289	)

Three Months Ended September 30, 2019	Amount of Gain or (Loss) Recognized in AOCI on Derivatives			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income		Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative Contracts	$	(8,302	)	$	703	$	1,817
Total	$	(8,302	)	$	703	$	1,817
Nine Months Ended September 30, 2019	Amount of Gain or (Loss) Recognized in AOCI on Derivatives			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income		Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative Contracts	$	(1,520	)	$	2,417	$	3,557
Total	$	(1,520	)	$	2,417	$	3,557