Derivatives (Tables)

9 Months Ended

Oct. 03, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Values of Hedges and MTP Contracts

The fair values of our aluminum hedges and MTP contracts are classified in the accompanying condensed consolidated balance sheets at October 3, 2020, and December 28, 2019, as follows (in thousands):

	Derivative Assets			Derivative Liabilities
	October 3, 2020			October 3, 2020
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum forward contracts	Other current assets	$	429	Accrued liabilities	$	(233	)
MTP contracts	Other current assets		93	Accrued liabilities		(113	)
Aluminum forward contracts	Other assets		136	Other liabilities		(2	)
MTP contracts	Other assets		28	Other liabilities		(38	)
Total derivative instruments	Total derivative assets	$	686	Total derivative liabilities	$	(386	)
	Derivative Assets			Derivative Liabilities
	December 28, 2019			December 28, 2019
Derivatives designated as hedging
instruments under Subtopic 815-20:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivative instruments:
Aluminum forward contracts	Other current assets	$	193	Accrued liabilities	$	(510	)
Aluminum forward contracts	Other assets		—	Other liabilities		—
Total derivative instruments	Total derivative assets	$	193	Total derivative liabilities	$	(510	)

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 months ended October 3, 2020, and September 28, 2019 (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
	October 3,			September 28,				October 3,			September 28,
	2020			2019				2020			2019
Aluminum contracts	$	1,452		$	(1,136	)	Cost of sales	$	(680	)	$	(1,532	)
MTP contracts	$	111		$	—		Cost of sales	$	148		$	—
	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
	October 3,			September 28,				October 3,			September 28,
	2020			2019				2020			2019
Aluminum contracts	$	(2,152	)	$	(2,083	)	Cost of sales	$	(2,798	)	$	(3,670	)
MTP contracts	$	32		$	—		Cost of sales	$	61		$	—