XML 54 R34.htm IDEA: XBRL DOCUMENT
v3.20.4

Market Concentrations and Risks | 12 Months Ended
--- | ---
Dec. 31, 2020
Risks and Uncertainties [Abstract] |
Market Concentrations and Risks | Market Concentrations and Risks Concentrations of Credit We sell our products to many customers in several markets across multiple geographic areas. The ten largest customers, of which six are distributors, constitute in aggregate approximately 40%, 39%, and 40% of revenues in 2020, 2019, and 2018, respectively. Unconditional Commodity Purchase Obligations At December 31, 2020, we were committed to purchase approximately 1.9 million pounds of copper at an aggregate fixed cost of $6.0 million. At December 31, 2020, this fixed cost was $0.7 million less than the market cost that would be incurred on a spot purchase of the same amount of copper. The aggregate market cost was based on the current market price of copper obtained from the New York Mercantile Exchange. Labor Approximately 28% of our labor force is covered by collective bargaining agreements at various locations around the world. Approximately 25% of our labor force is covered by collective bargaining agreements that we expect to renegotiate during 2021. Fair Value of Financial Instruments Our financial instruments consist primarily of cash and cash equivalents, trade receivables, trade payables, and debt instruments. The carrying amounts of cash and cash equivalents, trade receivables, and trade payables at December 31, 2020 are considered representative of their respective fair values. The fair value of our senior subordinated notes at December 31, 2020 and 2019 was approximately $1,633.7 million and $1,532.7 million, respectively, based on quoted prices of the debt instruments in inactive markets (Level 2 valuation). This amount represents the fair values of our senior subordinated notes with a carrying value of $1,590.8 million and $1,459.4 million as of December 31, 2020 and 2019, respectively.

X
- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
Name: | us-gaap_ConcentrationRiskDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RisksAndUncertaintiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration