Derivatives (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Hedges

The fair values of our aluminum hedges and MTP contracts are classified in the accompanying condensed consolidated balance sheets at September 30, 2023 and December 31, 2022, as follows (in thousands):

	Derivative Assets			Derivative Liabilities
	September 30, 2023			September 30, 2023
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum contracts	Other current assets	$	473	Accrued liabilities	$	(30	)
MTP contracts	Other current assets		—	Accrued liabilities		(24	)
Aluminum contracts	Other assets		—	Other liabilities		—
MTP contracts	Other assets		—	Other liabilities		—
Total derivative instruments	Total derivative assets	$	473	Total derivative liabilities	$	(54	)
	Derivative Assets			Derivative Liabilities
	December 31, 2022			December 31, 2022
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum contracts	Other current assets	$	—	Accrued liabilities	$	—
MTP contracts	Other current assets		300	Accrued liabilities		—
Aluminum contracts	Other assets		—	Other liabilities		—
MTP contracts	Other assets		—	Other liabilities		—
Total derivative instruments	Total derivative assets	$	300	Total derivative liabilities	$	—

Gains (Losses) on Derivative Financial Instruments

The following represents the gains (losses) on derivative financial instruments, and their classifications within the accompanying condensed consolidated financial statements, for the three and nine months ended September 30, 2023 and October 1, 2022 (in thousands):

	Derivatives in Cash Flow Hedging Relationships
	Amount of Gain or (Loss) Recognized in OCI(L) on Derivatives						Location of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income
	Three Months Ended							Three Months Ended
	September 30,			October 1,				September 30,			October 1,
	2023			2022				2023			2022
Aluminum contracts	$	1,027		$	(2,012	)	Cost of sales	$	(302	)	$	(3,185	)
MTP contracts	$	(135	)	$	(621	)	Cost of sales	$	13		$	769
	Derivatives in Cash Flow Hedging Relationships
	Amount of Gain or (Loss) Recognized in OCI(L) on Derivatives						Location of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI(L) into Income
	Nine Months Ended							Nine Months Ended
	September 30,			October 1,				September 30,			October 1,
	2023			2022				2023			2022
Aluminum contracts	$	78		$	(9,427	)	Cost of sales	$	(365	)	$	(597	)
MTP contracts	$	(89	)	$	(60	)	Cost of sales	$	235		$	3,941

We classify cash flows related to derivative instruments as operating activities in the condensed consolidated statements of cash flows.