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FINANCIAL DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | As of September 30, 2023 and December 31, 2022, the fair value carrying amount of the Company’s derivative instruments were recorded as follows (in thousands):
|  |  |  | Asset / (Liability) Derivatives
|  | Balance Sheet Caption |  | September 30, 2023 |  | December 31, 2022
Derivatives designated as hedging instruments |  |  |  |  |  |
Commodity swap contracts |  | Prepaid expenses and other |  | $ | 423 |  |  | $ | 2,674 |
Commodity swap contracts |  | Accounts payable and Other accrued liabilities |  | (2,256) |  |  | (1,653) |
Total derivatives designated as hedging instruments |  |  |  | $ | (1,833) |  |  | $ | 1,021 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table summarizes the gain or loss recognized in AOCI as of September 30, 2023 and December 31, 2022 and the amounts reclassified from AOCI into earnings for the three and nine months ended September 30, 2023 and 2022 (in thousands):
|  | Amount of (Loss) Gain Recognized in AOCI on Derivatives (Effective Portion, net of tax) |  | Location of Gain (Loss) Reclassified from AOCI into Earnings (Effective Portion) |  | Amount of Gain (Loss) Reclassified from AOCI into Earnings
|  | September 30, 2023 |  | December 31, 2022 |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Derivatives instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity swap contracts |  | $ | (867) |  |  | $ | 909 |  |  | Cost of sales |  | $ | (2,285) |  |  | $ | (1,956) |  |  | $ | (2,168) |  |  | $ | 10,607 |

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