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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured on Recurring Basis | The following tables set forth information regarding the Company’s financial assets and financial liabilities that are measured at fair value on a recurring basis:
Description | December 31, 2023 |  | Assets measured at NAV (f) |  | Level 1 |  | Level 2 |  | Level 3
Hedge derivatives, net: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | (41) |  |  | $ | — |  |  | $ | — |  |  | $ | (41) |  |  | $ | — |
Foreign exchange contracts | 1,502 |  |  | — |  |  | — |  |  | 1,502 |  |  | — |
Net investment hedge | (5,073) |  |  | — |  |  | — |  |  | (5,073) |  |  | — |
Non-hedge derivatives, net: |  |  |  |  |  |  |  |  |
Commodity contracts | (6770) |  |  | — |  |  | — |  |  | (6770) |  |  | — |
Foreign exchange contracts | (29) |  |  | — |  |  | — |  |  | (29) |  |  | — |
Postretirement benefit plan assets: |  |  |  |  |  |  |  |  |
Common Collective(a) | 12,958 |  |  | 12,958 |  |  | — |  |  | — |  |  | — |
Mutual funds(b) | 45,931 |  |  | — |  |  | — |  |  | 45,931 |  |  | — |
Fixed income securities(c) | 242,702 |  |  | 63,849 |  |  | — |  |  | 178,853 |  |  | — |
Short-term investments(d) | 4,175 |  |  | — |  |  | — |  |  | 4,175 |  |  | — |
Real estate funds(e) | 400 |  |  | 400 |  |  | — |  |  | — |  |  | — |
Cash and accrued income | 2,634 |  |  | — |  |  | 2,634 |  |  | — |  |  | — |
Total postretirement benefit plan assets | $ | 308,800 |  |  | $ | 77,207 |  |  | $ | 2,634 |  |  | $ | 228,959 |  |  | $ | — |
Description | December 31, 2022 |  | Assets measured at NAV (f) |  | Level 1 |  | Level 2 |  | Level 3
Hedge derivatives, net: |  |  |  |  |  |  |  |  |
Commodity contracts | $ | (172) |  |  | $ | — |  |  | $ | — |  |  | $ | (172) |  |  | $ | — |
Foreign exchange contracts | (863) |  |  | — |  |  | — |  |  | (863) |  |  | — |
Non-hedge derivatives, net: |  |  |  |  |  |  |  |  |
Commodity contracts | (8,638) |  |  | — |  |  | — |  |  | (8,638) |  |  | — |
Foreign exchange contracts | (54) |  |  | — |  |  | — |  |  | (54) |  |  | — |
Postretirement benefit plan assets: |  |  |  |  |  |  |  |  |
Common Collective(a) | 6,497 |  |  | 6,497 |  |  | — |  |  | — |  |  | — |
Mutual funds(b) | 50,467 |  |  | — |  |  | — |  |  | 50,467 |  |  | — |
Fixed income securities(c) | 198,628 |  |  | 32,927 |  |  | — |  |  | 165,701 |  |  | — |
Short-term investments(d) | 1,099 |  |  | — |  |  | — |  |  | 1,099 |  |  | — |
Real estate funds(e) | 680 |  |  | 680 |  |  | — |  |  | — |  |  | — |
Cash and accrued income | 8,504 |  |  | — |  |  | 8,504 |  |  | — |  |  | — |
Total postretirement benefit plan assets | $ | 265,875 |  |  | $ | 40,104 |  |  | $ | 8,504 |  |  | $ | 217,267 |  |  | $ | — |
a.Common collective trust investments consist of domestic and international large and mid capitalization equities, including emerging markets and funds invested in both short-term and long-term bonds. Underlying investments are generally valued at closing prices from national exchanges. Commingled funds, private securities, and limited partnerships are valued at unit values or NAVs provided by the investment managers. b.Mutual fund investments are comprised of equity securities of corporations with large capitalizations and also include funds invested in corporate equities in international and emerging markets and funds invested in long-term bonds, which are valued at closing prices from national exchanges. c.Fixed income securities include funds that invest primarily in government securities and long-term bonds. Underlying investments are generally valued at closing prices from national exchanges, fixed income pricing models, and independent financial analysts. Fixed income commingled funds are valued at unit values provided by the investment managers. d.Short-term investments include several money market funds used for managing overall liquidity. Underlying investments are generally valued at closing prices from national exchanges. Commingled funds are valued at unit values provided by the investment managers. e.Includes investments in real estate funds (including office, industrial, residential and retail). Underlying real estate securities are generally valued at closing prices from national exchanges. f.Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2C -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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