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Hedging Transactions and Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional values of outstanding derivative positions and volume of copper contracts outstanding | As of December 31, 2020 the notional values of these foreign currency forward contracts were as follows:
Notional Values of Foreign Currency Derivatives
USD/CNH | $ | 28,766,855 |
EUR/USD | € | 8,151,124 |
KRW/USD | ₩ | 10,893,500,000 |
As of December 31, 2020, the volume of our copper contracts outstanding were as follows:
Volume of Copper Derivatives
January 2021 - March 2021 | 256 metric tons per month
April 2021 - June 2021 | 256 metric tons per month
July 2021 - September 2021 | 222 metric tons per month
October 2021 - December 2021 | 222 metric tons per month
Schedule of gain (loss) on derivative instruments | Effects on Financial Statements The following table presents the impact from these instruments on the statement of operations and statements of comprehensive income:
|  | Years Ended December 31,
(Dollars in thousands) | Financial Statement Line Item | 2020 |  | 2019 |  | 2018
Foreign Currency Contracts |  |  |  |  |  |
Contracts not designated as hedging instruments | Other income (expense), net | $ | (1,981) |  |  | $ | (779) |  |  | $ | (333) |
Copper Derivatives Contracts |  |  |  |  |  |
Contracts not designated as hedging instruments | Other income (expense), net | $ | 3,610 |  |  | $ | (716) |  |  | $ | (2,101) |
Interest Rate Swap Contract |  |  |  |  |  |
Contract designated as hedging instrument | Other comprehensive income (loss) | $ | 1,254 |  |  | $ | (1,715) |  |  | $ | 420 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
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