XML 48 R39.htm IDEA: XBRL DOCUMENT v3.26.1
Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Amount Recognized as and Reclassified from Accumulated Other Comprehensive Income (Loss)

The change in the fair value of the cash flow contracts is recorded as a component of accumulated other comprehensive loss. The balances as of June 30, 2026 and 2025 and the amounts recognized as and reclassified from accumulated other comprehensive loss for each of the periods are summarized below. Amounts are after tax where applicable. Certain amounts recognized as comprehensive income (loss) or reclassified from accumulated other comprehensive loss have no tax effect due to the Corporation having a valuation allowance recorded against the deferred income tax assets for the jurisdiction where the income or expense is recognized.

Three Months Ended June 30, 2026

 

Beginning of
the Period

 

 

Recognized

 

 

Reclassified

 

 

End of
the Period

 

Foreign currency purchase contracts

 

$

21

 

 

$

 

 

$

7

 

 

$

14

 

Futures contracts – copper and aluminum

 

 

190

 

 

 

(87

)

 

 

94

 

 

 

9

 

 

$

211

 

 

$

(87

)

 

$

101

 

 

$

23

 

Three Months Ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency purchase contracts

 

$

48

 

 

$

 

 

$

8

 

 

$

40

 

Futures contracts – copper and aluminum

 

 

571

 

 

 

18

 

 

 

273

 

 

 

316

 

 

$

619

 

 

$

18

 

 

$

281

 

 

$

356

 

Six Months Ended June 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency purchase contracts

 

$

27

 

 

$

 

 

$

13

 

 

$

14

 

Futures contracts – copper and aluminum

 

 

89

 

 

 

76

 

 

 

156

 

 

 

9

 

 

$

116

 

 

$

76

 

 

$

169

 

 

$

23

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency purchase contracts

 

$

54

 

 

$

 

 

$

14

 

 

$

40

 

Futures contracts – copper and aluminum

 

 

(156

)

 

 

798

 

 

 

326

 

 

 

316

 

 

$

(102

)

 

$

798

 

 

$

340

 

 

$

356

 

Summary of Change in Fair Value Reclassified or Expected to be Reclassified from Accumulated Other Comprehensive Loss to Earnings

The change in fair value reclassified or expected to be reclassified from accumulated other comprehensive loss to earnings is summarized below. All amounts are pre-tax.

 

 

Location of Gain in Statement of Operations

 

Estimated to
be Reclassified
in the Next 12 Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Foreign currency purchase contracts

 

Depreciation and amortization

 

$

14

 

 

$

7

 

 

$

8

 

 

$

13

 

 

$

14

 

Futures contracts – copper and aluminum

 

Costs of products sold
(excluding depreciation and amortization)

 

$

10

 

 

$

99

 

 

$

281

 

 

$

163

 

 

$

336