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Fair Value Measurements and Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The notional amounts of our outstanding derivative instruments as of March 31, 2025 and December 31, 2024 were as follows:

			March 31, 2025						December 31, 2024
			Notional Amount						Notional Amount
			(Dollars in thousands)
Derivative instruments not designated as hedges:
Foreign currency derivatives			$	14,747					$	11,918

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

The pre-tax realized (gains) losses on designated cash flow hedges are recognized in the Statements of Operations when the hedged item impacts earnings and were as follows for the periods ended March 31, 2025 and 2024:

												Amount of Gain Recognized
						Location of Realized Gain Recognized in the Condensed Consolidated Statement of Operations						Three Months Ended March 31,
												2025						2024
Derivatives designated as cash flow hedges:												(Dollars in thousands)
Foreign currency derivatives						Cost of goods sold						$	(57)					$	(68)
Commodity derivative contracts						Cost of goods sold						—						(2,462)
Interest rate swap contracts						Interest expense						—						(2,737)

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 March 31, 2025 and December 31, 2024:

			March 31, 2025						December 31, 2024
			Fair Value						Fair Value
			(Dollars in thousands)
Prepaid and other current assets
Foreign currency derivatives			237						296
Other accrued liabilities
Foreign currency derivatives			(43)						(248)
Net asset			$	194					$	48

Pretax Gains (Losses) on Derivative Contracts Not Designated as Hedging Instruments Not Recognized in Earnings

Pretax gains and losses on non-designated derivatives recognized in earnings were as follows:

												Amount of (Gain)/Loss Recognized
						Location of (Gain)/Loss Recognized in the Condensed Consolidated Statement of Operations						Three Months Ended March 31,
												2025						2024
Derivatives not designated as hedges:												(Dollars in thousands)
Foreign currency derivatives						Cost of goods sold, other (income) expense, net						$	(236)					$	127

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Pretax Gains (Losses) On Derivative Contracts Not Designated As Hedging Instruments Not Recognized In Earnings

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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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-Topic 815
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-Section 50
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