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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of all derivatives is recorded as assets or liabilities on a gross basis in our Condensed Consolidated Balance Sheets. As of September 30, 2020 and December 31, 2019, the fair value of our derivatives and their respective balance sheet locations are presented in the following tables:

			Asset Derivatives												Liability Derivatives
			Location						Fair  Value						Location						Fair  Value
As of September 30, 2020			(Dollars in thousands)
Derivatives designated as cash flow hedges:
Commodity derivative contracts			Prepaid and other current assets						$	1					Other accrued liabilities						$	4,653
			Other long-term assets						—						Other long-term obligations						4,261
Interest rate swap contracts			Prepaid and other current assets						—						Other accrued liabilities						5,730
			Other long-term assets						—						Other long-term obligations						7,609
Total fair value									$	1											$	22,253
As of December 31, 2019
Derivatives designated as cash flow hedges:
Commodity derivative contracts			Prepaid and other current assets						$	104					Other accrued liabilities						$	1,872
			Other long-term assets						369						Other long-term obligations						2,255
Interest rate swap contracts			Prepaid and other current assets						253						Other accrued liabilities						—
			Other long-term assets						2,684						Other long-term obligations						72
Total fair value									$	3,410											$	4,199

			Asset Derivatives												Liability Derivatives
			Location						Fair  Value						Location						Fair  Value
As of September 30, 2020			(Dollars in thousands)
Derivatives not designated as hedges:
Foreign currency derivatives			Prepaid and other current assets						$	817					Other current liabilities						$	161
Commodity derivatives contracts			Prepaid and other current assets						165						Other accrued liabilities						—
									$	982											$	161
As of December 31, 2019
Derivatives not designated as hedges:
Foreign currency derivatives			Prepaid and other current assets						$	239					Other current liabilities						$	81
Commodity derivatives contracts			Prepaid and other current assets						376						Other accrued liabilities						—
									$	615											$	81

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The location and amount of realized (gains) losses on derivatives are recognized in the Statements of Operations as follows for the periods ended September 30, 2020 and 2019:

												Amount of (Gain)/Loss Recognized
						Location of (Gain)/Loss Recognized in the Consolidated Statement of Operations						For the Three Months Ended September 30,
												2020						2019
Derivatives designated as cash flow hedges:												(Dollars in thousands)
Commodity derivative contracts						Cost of sales						$	(1,295)					$	(3,145)
Interest rate swap						Interest expense						1,537						(323)
Derivatives not designated as hedges:
Foreign currency derivatives						Cost of sales, Other (income) expense						$	(243)					$	173
Commodity derivative contracts						Cost of sales						(207)						—
												Amount of (Gain)/Loss Recognized
						Location of (Gain)/Loss Recognized in the Consolidated Statement of Operations						For the Nine Months Ended September 30,
												2020						2019
Derivatives designated as cash flow hedges:												(Dollars in thousands)
Commodity contract hedges						Cost of sales						$	(5,234)					$	(6,994)
Interest rate swap contracts						Interest expense						2,852						(323)
Derivatives not designated as hedges:
Foreign currency derivatives						Cost of sales, Other (income) expense						$	(959)					$	(648)
Commodity derivative contracts						Cost of sales						(321)						—

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- References

No definition available.

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

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