Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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

The location and fair value of the foreign currency sales contracts recorded on the condensed consolidated balance sheets were as follows:

	Location	September 30, 2021			December 31, 2020
Fair value hedge contracts	Other current assets	$	293		$	1,123
	Other noncurrent assets		0			332
	Other current liabilities		0			12
Fair value hedged items	Receivables		(293	)		(960	)
	Other current liabilities		0			201
	Other noncurrent liabilities		0			327

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 September 30, 2021, and 2020, and the amount 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 September 30, 2021	Beginning of the Period		Recognized			Reclassified			End of the Period
Foreign currency purchase contracts	$	148	$	0		$	6		$	142
Futures contracts – copper and aluminum		276		(8	)		298			(30	)
	$	424	$	(8	)	$	304		$	112
Three Months Ended September 30, 2020
Foreign currency purchase contracts	$	176	$	0		$	7		$	169
Futures contracts – copper and aluminum		72		227			(17	)		316
	$	248	$	227		$	(10	)	$	485
Nine Months Ended September 30, 2021
Foreign currency purchase contracts	$	162	$	0		$	20		$	142
Futures contracts – copper and aluminum		427		547			1,004			(30	)
	$	589	$	547		$	1,024		$	112
Nine Months Ended September 30, 2020
Foreign currency purchase contracts	$	189	$	0		$	20		$	169
Futures contracts – copper and aluminum		102		27			(187	)		316
	$	291	$	27		$	(167	)	$	485

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) in Statements	Estimated to be Reclassified in the Next			Three Months Ended September 30,					Nine Months Ended September 30,
	of Operations	12 Months			2021		2020			2021		2020
Foreign currency purchase contracts	Depreciation and amortization	$	28		$	6	$	7		$	20	$	20
Futures contracts – copper and aluminum	Costs of products sold (excluding depreciation and amortization)	$	(30	)	$	298	$	(17	)	$	1,004	$	(187	)