Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Location and Fair Value of Foreign Currency Sales Contracts Recorded on Consolidated Balance Sheets

The following summarizes location and fair value of the foreign currency sales contracts recorded on the consolidated balance sheets as of December 31:

	Location	2020			2019
Fair value hedge contracts	Other current assets	$	1,123		$	677
	Other noncurrent assets		332			153
	Other current liabilities		12			0
Fair value hedged item	Receivables		(960	)		(260	)
	Other current liabilities		201			323
	Other noncurrent liabilities		327			95

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. Amounts recognized as and reclassified from accumulated other comprehensive loss are recorded as a component of other comprehensive income (loss) and are summarized below. Amounts are after-tax, where applicable. Certain amounts recognized as or reclassified from comprehensive income (loss) for 2020 and 2019 have no tax effect due to the Corporation recording a valuation allowance against its deferred income tax assets in the related jurisdictions.

For the Year Ended December 31, 2020	Beginning of the Year			Recognized		Reclassified			End of the Year
Foreign currency purchase contracts	$	189		$	0	$	27		$	162
Future contracts – copper and aluminum		102			390		65			427
Change in fair value	$	291		$	390	$	92		$	589
For the Year Ended December 31, 2019
Foreign currency purchase contracts	$	216		$	0	$	27		$	189
Future contracts – copper and aluminum		(280	)		97		(285	)		102
Change in fair value	$	(64	)	$	97	$	(258	)	$	291

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 (Loss)	Estimated to be Reclassified in the Next		Year Ended December 31,
	in Statements of Operations	12 Months		2020		2019
Foreign currency purchase contracts	Depreciation and amortization	$	27	$	27	$	27
Futures contracts – copper and    aluminum	Costs of products sold (excluding depreciation and amortization)		427		65		(285	)