Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income

The following table shows the components of accumulated other comprehensive income for the three and nine months ended September 30, 2023 and October 1, 2022 (in thousands):

Three months ended September 30, 2023	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at July 1, 2023	$	(658	)	$	92		$	(566	)
Increase (decrease) in fair value of derivatives		1,027			(135	)		892
Amounts reclassified from accumulated other comprehensive income		302			(13	)		289
Tax effect		(342	)		38			(304	)
Net current-period other comprehensive income (loss)		987			(110	)		877
Balance at September 30, 2023	$	329		$	(18	)	$	311
Nine months ended September 30, 2023	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at December 31, 2022	$	—		$	223		$	223
Increase (decrease) in fair value of derivatives		78			(89	)		(11	)
Amounts reclassified from accumulated other comprehensive income		365			(235	)		130
Tax effect		(114	)		83			(31	)
Net current-period other comprehensive income (loss)		329			(241	)		88
Balance at September 30, 2023	$	329		$	(18	)	$	311

Three months ended October 1, 2022	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at July 2, 2022	$	(3,846	)	$	1,478		$	(2,368	)
Decrease in fair value of derivatives		(2,012	)		(621	)		(2,633	)
Amounts reclassified from accumulated other comprehensive income (loss)		3,185			(769	)		2,416
Tax effect		(279	)		335			56
Net current-period other comprehensive income (loss)		894			(1,055	)		(161	)
Balance at October 1, 2022	$	(2,952	)	$	423		$	(2,529	)
Nine months ended October 1, 2022	Aluminum			MTP
(in thousands)	Contracts			Contracts			Total
Balance at January 1, 2022	$	3,610		$	3,396		$	7,006
Decrease in fair value of derivatives		(9,427	)		(60	)		(9,487	)
Amounts reclassified from accumulated other comprehensive income (loss)		597			(3,941	)		(3,344	)
Tax effect		2,268			1,028			3,296
Net current-period other comprehensive loss		(6,562	)		(2,973	)		(9,535	)
Balance at October 1, 2022	$	(2,952	)	$	423		$	(2,529	)