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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Derivative Instruments [Abstract]

Summary Of Location And Fair Value Of Derivative Financial Instruments

The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023:

			September 30, 2024												December 31, 2023
(In thousands)			Balance Sheet Account						Fair Value						Balance Sheet Account						Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts			Prepaid expenses and other						$	354					Prepaid expenses and other						$	—
Liability derivatives: Aluminum futures contracts			Accrued expenses						(128)						Accrued expenses						(483)
Aluminum futures contracts			Other non-current liabilities						—						Other non-current liabilities						(9)
Net asset (liability)									$	226											$	(492)

The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023:

			September 30, 2024												December 31, 2023
(In thousands)			Balance Sheet Account						Fair Value						Balance Sheet Account									Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Foreign currency forward contracts			Prepaid expenses and other						$	219					Prepaid expenses and other									$	2,050
Foreign currency forward contracts			Other assets						—						Other assets									146
Liability derivatives: Foreign currency forward contracts			Accrued expenses						(299)						Other non-current liabilities									—
Net asset (liability)									$	(80)														$	2,196

Derivative, Description of Hedged Item

Terphane Ltda. had the following outstanding foreign exchange average forward rate contracts to purchase Brazilian Real and sell U.S. Dollars as of September 30, 2024:

USD Notional Amount (000s)			Average Forward Rate Contracted on USD/BRL			R$ Equivalent Amount (000s)			Applicable Month			Estimated % of Terphane Ltda. R$ Operating Cost Exposure Hedged
$1,851			5.4225			R$10,037			Oct-24			87%
$1,837			5.4403			R$9,994			Nov-24			86%
$1,801			5.4580			R$9,830			Dec-24			85%
$5,489			5.4402			R$29,861						85%

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below summarizes the location and gross amounts of aluminum futures contract fair values (Level 2) in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023:

			September 30, 2024												December 31, 2023
(In thousands)			Balance Sheet Account						Fair Value						Balance Sheet Account						Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Aluminum futures contracts			Prepaid expenses and other						$	354					Prepaid expenses and other						$	—
Liability derivatives: Aluminum futures contracts			Accrued expenses						(128)						Accrued expenses						(483)
Aluminum futures contracts			Other non-current liabilities						—						Other non-current liabilities						(9)
Net asset (liability)									$	226											$	(492)

The table below summarizes the location and gross amounts of foreign currency forward contract fair values (Level 2) in the condensed consolidated balance sheets as of September 30, 2024 and December 31, 2023:

			September 30, 2024												December 31, 2023
(In thousands)			Balance Sheet Account						Fair Value						Balance Sheet Account									Fair Value
Derivatives Designated as Hedging Instruments
Asset derivatives: Foreign currency forward contracts			Prepaid expenses and other						$	219					Prepaid expenses and other									$	2,050
Foreign currency forward contracts			Other assets						—						Other assets									146
Liability derivatives: Foreign currency forward contracts			Accrued expenses						(299)						Other non-current liabilities									—
Net asset (liability)									$	(80)														$	2,196

Schedule Of Pretax Effect On Net Income (Loss) And Other Comprehensive Income (Loss) Of Derivative Instruments Classified As Cash Flow Hedges

The pre-tax effect on net income (loss) and other comprehensive income (loss) of derivative instruments classified as cash flow hedges and described in the previous paragraphs for the three and nine month periods ended September 30, 2024 and 2023 is summarized in the table below:

			Cash Flow Derivative Hedges
			Three Months Ended September 30,
			Aluminum Futures Contracts												Foreign Currency Forwards
(In thousands)			2024						2023						2024									2023
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)			$	10					$	2,908					$	—		$	252					$	—					$	(621)
Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion)			Cost of goods sold						Cost of goods sold						Cost of goods sold			Selling, general & admin						Cost of goods sold						Selling, general & admin
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)			$	(153)					$	1,716					$	16		$	(144)					$	16					$	1,024
			Nine Months Ended September 30,
			Aluminum Futures Contracts												Foreign Currency Forwards
			2024						2023						2024									2023
Amount of pre-tax gain (loss) recognized in other comprehensive income (loss)			$	56					$	4,867					$	—		$	(1,491)					$	—					$	2,985
Location of gain (loss) reclassified from accumulated other comprehensive income (loss) into net income (effective portion)			Cost of goods sold						Cost of goods sold						Cost of goods sold			Selling, general & admin						Cost of goods sold						Selling, general & admin
Amount of pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) to net income (effective portion)			$	(662)					$	3,273					$	46		$	396					$	46					$	2,031

X

- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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