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Fair Value Measurements And Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

The following tables present the classification of our assets and liabilities measured at fair value on a recurring basis:

December 31, 2022			Total						Level 1						Level 2						Level 3
Assets:			(Dollars in thousands)
Foreign currency derivatives			$	92					$	—					$	92					$	—
Interest rate swap contracts			27,384						—						27,384						—
Total assets at fair value			$	27,476					$	—					$	27,476					$	—
Liabilities:
Foreign currency derivatives			$	282					$	—					$	282					$	—
Total liabilities at fair value			$	282					$	—					$	282					$	—
December 31, 2021			Total						Level 1						Level 2						Level 3
Assets:			(Dollars in thousands)
Foreign currency derivatives			$	388					$	—					$	388					$	—
Commodity derivative contracts			8,469						—						8,469						—
Interest rate swap contracts			6,060						—						6,060						—
Total assets at fair value			$	14,917					$	—					$	14,917					$	—
Liabilities:
Foreign currency derivatives			$	2					$	—					$	2					$	—
Interest rate swap contracts			140						—						140						—
Total liabilities at fair value			$	142					$	—					$	142					$	—

Derivatives Not Designated as Hedging Instruments

The following table summarizes the fair value of our outstanding derivatives not designated as hedges (on a gross basis) and balance sheet classification as of December 31, 2022 and 2021:

			December 31, 2022						December 31, 2021
			Fair Value						Fair Value
			(Dollars in thousands)
Prepaid and other current assets
Interest rate swap contracts			$	7,492					$	—
Foreign currency derivatives			92						388
Other assets
Interest rate swap contracts			4,071						—
Other accrued liabilities
Foreign currency derivatives			(282)						(2)
Net asset			$	11,373					$	386

Schedule Of Realized (Gains) Losses On Derivatives Recognized In Statement Of Operations

The realized (gains) losses on cash flow hedges are recognized in the Statements of Operations when the hedged item impacts earnings and are as follows for the years ended December 31, 2022, 2021 and 2020:

												Amount of (Gain)/Loss Recognized
						Location of Realized (Gain)/Loss Recognized in the Consolidated Statement of Operations						2022						2021						2020
Derivatives designated as cash flow hedges:												(Dollars in thousands)
Foreign currency derivatives						Cost of sales						$	1,975					$	—					$	—
Commodity derivative contracts						Cost of sales						(11,452)						6,440						(4,134)
Interest rate swaps						Interest expense						(2,423)						1,846						4,390

Schedule of Notional Amounts of Outstanding Derivative Positions

The notional amounts of our outstanding derivative instruments as of December 31, 2022 and 2021 were as follows:

			December 31, 2022						December 31, 2021
			Notional Amount						Notional Amount
			(Dollars in thousands)
Derivative instruments designated as hedges:
Commodity derivative contracts			$	—					$	19,474
Interest rate swap contracts			250,000						500,000
Derivative instruments not designated as hedges:
Foreign currency derivatives			$	70,420					$	99,260
Interest rate swap contracts			183,000						—

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

The following table summarizes the fair value of our outstanding derivatives designated as hedges (on a gross basis) and balance sheet classification as of December 31, 2022 and 2021:

			December 31, 2022						December 31, 2021
			Fair Value						Fair Value
			(Dollars in thousands)
Prepaid and other current assets
Commodity derivative contracts			$	—					$	8,469
Interest rate swap contracts			10,246						—
Total			$	10,246					$	8,469
Other assets
Interest rate swap contracts			$	5,575					$	6,060
Total			$	5,575					$	6,060
Other accrued liabilities
Interest rate swap contracts			$	—					$	(140)
Total			$	—					$	(140)
Net asset			$	15,821					$	14,389

Pretax gains and losses on derivative contracts not designated as hedging instruments not recognized in earnings

Pre-tax gains and losses on non-designated derivatives recognized in earnings are as follows:

												Amount of (Gain)/Loss Recognized
						Location of Realized (Gain)/Loss Recognized in the Consolidated Statement of Operations						2022						2021						2020
Derivatives not designated as hedges:												(Dollars in thousands)
Foreign currency derivatives						Cost of sales, other (income) expense, net						$	(938)					$	3,895					$	(2,671)
Commodity derivative contracts						Cost of sales						—						(1,399)						(530)
Interest rate swaps						Interest expense						(11,716)						866						—

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