Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Commodity option and futures contract commitments for non monetary notional amount

The following summarizes the company's commodity futures contract commitments as of December 31, 2014 (MT represents metric tons and Lbs represents pounds):

Commodity	Long/Short	Total
Aluminum	Long		3,700	MT
Aluminum	Short		5,025	MT
Copper	Long		3,611	MT
Copper	Short		15,733	MT
Silver	Short		343	Lbs

Summary of the location and amounts of the fair values and gains or losses related to derivatives included in the entity's financial statements

The following summarizes the location and amounts of the fair values reported on the company's balance sheets and gains or losses related to derivatives included in the company's statements of income as of and for the years ended December 31 (in thousands):

	Asset Derivatives					Liability Derivatives
		Fair Value				Fair Value
	Balance sheet location	December 31, 2014		December 31, 2013		December 31, 2014		December 31, 2013
Derivative instruments designated as fair value hedges—
Commodity futures	Other current assets	$	3,180	$	658	$	913	$	1,886
Derivative instruments not designated as hedges—
Commodity futures	Other current assets	$	2,132	$	352	$	626	$	2,601

Total derivative instruments		$	5,312	$	1,010	$	1,539	$	4,487

	Location of gain recognized in income on derivatives	Amount of gain recognized in income on derivatives for the year ended December 31, 2014		Hedged items in fair value hedge relationships	Location of gain (loss) recognized in income on related hedged item	Amount of gain (loss) recognized in income on related hedged items for the year ended December 31, 2014
Derivatives in fair value hedging relationships—
Commodity futures	Costs of goods sold	$	2,778	Firm commitments	Costs of goods sold	$	1,488


				Inventory	Costs of goods sold		(3,411	)

						$	(1,923	)


Derivatives not designated as hedging instruments—
Commodity futures	Costs of goods sold	$	14,988

	Location of gain recognized in income on derivatives	Amount of gain recognized in income on derivatives for the year ended December 31, 2013		Hedged items in fair value hedge relationships	Location of gain (loss) recognized in income on related hedged item	Amount of gain (loss) recognized in income on related hedged items for the year ended December 31, 2013
Derivatives in fair value hedging relationships—
Commodity futures	Costs of goods sold	$	7,509	Firm commitments	Costs of goods sold	$	120


				Inventory	Costs of goods sold		(7,437	)

						$	(7,317	)


Derivatives not designated as hedging instruments—
Commodity futures	Costs of goods sold	$	2,097

Location of loss
recognized in income
on derivatives

Amount of loss
recognized in income
on derivatives for
the years ended
December 31, 2012

Derivatives not designated as hedging instruments—

Commodity futures

Costs of goods sold