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Hedging Transactions and Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | As of September 30, 2023, the notional values of the remaining foreign currency forward contracts were as follows:
Notional Values of Foreign Currency Derivatives
USD/CNH | $ | 18,999,562 |
EUR/USD | € | 10,440,705 |
KRW/USD | ₩ | 3,994,650,000 |
JPY/EUR | ¥ | 50,000,000 |
As of September 30, 2023, the volume of our copper contracts outstanding was as follows:
Volume of Copper Derivatives
October 2023 - December 2023 | 69 metric tons per month
January 2024 - March 2024 | 69 metric tons per month
April 2024 - June 2024 | 69 metric tons per month
July 2024 - September 2024 | 69 metric tons per month
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The impacts from our derivative instruments on the statement of operations and statements of comprehensive income (loss) were as follows:
|  |  | Three Months Ended |  | Nine Months Ended
(Dollars in thousands) | Financial Statement Line Item |  | September 30, 2023 |  | September 30, 2022 |  | September 30, 2023 |  | September 30, 2022
Foreign Currency Contracts |  |  |  |  |  |  |  |  |
Contracts not designated as hedging instruments | Other income (expense), net |  | $ | 268 |  |  | $ | (101) |  |  | $ | 1,103 |  |  | $ | (1,019) |
Copper Derivative Contracts |  |  |  |  |  |  |  |  |
Contracts not designated as hedging instruments | Other income (expense), net |  | $ | (182) |  |  | $ | (171) |  |  | $ | (602) |  |  | $ | (969) |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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