Derivative Financial Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The Company’s unrealized assets and liabilities in respect of its fair value hedges measured at fair value are as follows:

Derivatives designated as fair value hedges	Balance Sheet Location	June 30, 2013		December 31, 2012
Asset derivatives:
Aluminum futures contracts	Other current assets	$	3,332		-
Foreign currency forward contracts	Other current assets		875		-
Total		$	4,207	$	-
Liability derivatives:
Foreign currency forward contracts	Accrued expenses and derivative liabilities		-	$	27
Aluminum futures contracts	Accrued expenses and derivative liabilities		-		842
Total		$	-	$	869

Schedule Of Derivatives Designated As Fair Value Hedges [Table Text Block]

The swap has been designated as a cash flow hedge and the Company’s unrealized liabilities relating to it measured at fair value are as follows:

Derivatives designated as cash flow hedges	Balance Sheet Location	June 30, 2013		December 31, 2012
Liability derivatives:
Interest rate swap contracts	Accrued expenses and derivative liabilities	$	80	$	111

Schedule Of Derivatives Designated As Cash Flow Hedges [Table Text Block]

The table below summarizes the realized gains or (losses) of the Company’s derivative instruments and their location in the income statement:

Derivatives in hedging		Location of Gain or	Three Months Ended June 30,				Six Months Ended June 30,
relationships		(Loss) Recognized	2013		2012		2013		2012
Foreign currency forward contracts	(a)	Cost of goods sold	$	631	$	(252)	$	878	$	(609)
Interest rate swaps	(b)	Interest expense, net		(16)		(17)		(32)		(34)
Aluminum futures	(c)	Cost of goods sold		3,241		2,604		3,153		5,491
Total			$	3,856	$	2,335	$	3,999	$	4,848

Fair value hedge: the related hedged item is accounts receivable and offsetting losses in 2013 and gains in 2012 are included in cost of goods sold in the same respective amounts.

Cash flow hedge: recognized losses reclassified from accumulated other comprehensive loss.

Fair value hedge: the related hedged item is inventory and offsetting losses in 2013 and 2012 are included in cost of goods sold in the same respective amounts.