Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021 and December 31, 2020:

	September 30, 2021
	Other Current Assets		Other Non-current Assets		Accrued Liabilities		Other Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	2,145	$	3,027	$	2,391	$	8,448
Foreign exchange forward contracts not    designated as hedging instruments		524		—		739		—
Aluminum forward contracts designated as    hedging instruments		3,620		—		—		—
Natural gas forward contracts designated as    hedging instruments		3,590		978		6		42
Interest rate swap contracts designated as hedging    instruments		—		—		4,781		806
Total derivative financial instruments	$	9,879	$	4,005	$	7,917	$	9,296

	December 31, 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	$	1,218	$	6,531	$	3,435	$	2,645
Foreign exchange forward contracts not    designated as hedging instruments		1,167		—		122		—
Aluminum forward contracts designated as    hedging instruments		262		—		—		—
Natural gas forward contracts designated as    hedging instruments		816		224		22		70
Interest rate swap contracts designated as hedging    instruments		—		—		4,771		4,194
Total derivative financial instruments	$	3,463	$	6,755	$	8,350	$	6,909

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, 2021					December 31, 2020
	Notional U.S. Dollar Amount		Fair Value			Notional U.S. Dollar Amount		Fair Value
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	487,425	$	(5,667	)	$	421,253	$	1,669
Foreign exchange forward contracts not designated    as hedging instruments		25,668		(215	)		71,217		1,045
Aluminum forward contracts designated as    hedging instruments		19,257		3,620			4,068		262
Natural gas forward contracts designated as hedging    instruments		8,094		4,520			5,523		948
Interest rate swap contracts designated as hedging    instruments		200,000		(5,587	)		200,000		(8,965	)
Total derivative financial instruments	$	740,444	$	(3,329	)	$	702,061	$	(5,041	)

Summary of Gain or Loss Recognized in AOCI

The following tables summarize the gain or loss recognized in AOCI, the amounts reclassified from AOCI into earnings and the amounts recognized directly into earnings for the three and nine months ended September 30, 2021 and 2020:

Three Months Ended September 30, 2021	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	$	(6,884	)	$	1,731	$	(219	)
Total	$	(6,884	)	$	1,731	$	(219	)
Nine Months Ended September 30, 2021	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	$	101		$	2,050	$	(1,485	)
Total	$	101		$	2,050	$	(1,485	)

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	)