Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021:

	March 31, 2022
	Other Current Assets		Other Non-current Assets		Accrued Liabilities		Other Non-current Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	7,105	$	6,673	$	2,682	$	12,007
Foreign exchange forward contracts not    designated as hedging instruments		1,136		—		502		—
Aluminum forward contracts designated as    hedging instruments		7,406		—		—		—
Natural gas forward contracts designated as    hedging instruments		3,234		600		32		282
Interest rate swap contracts designated as hedging    instruments		—		—		1,497		—
Total derivative financial instruments	$	18,881	$	7,273	$	4,713	$	12,289

	December 31, 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	$	3,161	$	2,194	$	1,845	$	13,565
Foreign exchange forward contracts not    designated as hedging instruments		579		—		3		—
Aluminum forward contracts designated as    hedging instruments		2,677		39		—		—
Natural gas forward contracts designated as    hedging instruments		1,294		418		135		276
Interest rate swap contracts designated as hedging    instruments		—		—		3,887		—
Total derivative financial instruments	$	7,711	$	2,651	$	5,870	$	13,841

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:

	March 31, 2022					December 31, 2021
	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	$	465,599	$	(911	)	$	458,769	$	(10,055	)
Foreign exchange forward contracts not designated    as hedging instruments		35,572		634			24,419		576
Aluminum forward contracts designated as    hedging instruments		26,706		7,406			37,609		2,716
Natural gas forward contracts designated as hedging    instruments		12,087		3,520			8,915		1,301
Interest rate swap contracts designated as hedging    instruments		200,000		(1,497	)		200,000		(3,887	)
Total derivative financial instruments	$	739,964	$	9,152		$	729,712	$	(9,349	)

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 months ended March 31, 2022 and 2021:

Three Months Ended March 31, 2022	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	$	16,821	$	4,777	$	870
Total	$	16,821	$	4,777	$	870

Three Months Ended March 31, 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	$	(8,462	)	$	(439	)	$	(2,904	)
Total	$	(8,462	)	$	(439	)	$	(2,904	)