Derivatives (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments, Gain (Loss) [Line Items]

The following table provides the fair values of our derivative financial instruments for the periods presented:



	Asset Derivatives:
(dollars in thousands)	December 31, 2015			December 31, 2014
Derivatives not designated as hedging instruments under FASB ASC 815:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Currency contracts	Prepaid and other current assets	245		Prepaid and other current assets	403
Total undesignated		245			403
Total		$	245		$	403
	Liability Derivatives:
(dollars in thousands)	December 31, 2015			December 31, 2014
Derivatives designated as hedging instruments under FASB ASC 815:	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Natural gas contracts	Derivative liability - current	$	1,069	Derivative liability - current	$	1,222
Natural gas contracts	Other long-term liabilities	34		Other long-term liabilities	103
Interest rate contract	Derivative liability - current	2,132		Derivative liability - current	—
Interest rate contract	Other long-term liabilities	246		Other long-term liabilities	—
Total designated		3,481			1,325
Derivatives not designated as hedging instruments under FASB ASC 815:
Natural gas contracts	Derivative liability - current	1,064		Derivative liability - current	1,431
Natural gas contracts	Other long-term liabilities	35		Other long-term liabilities	112
Total undesignated		1,099			1,543
Total		$	4,580		$	2,868

Summary of the Effective Portion of Derivative Gain (Loss) Recognized in Other Comprehensive Income (Loss)

The following table provides a summary of the effective portion of derivative gain (loss) recognized in other comprehensive income (loss):



Year ended December 31, (dollars in thousands)	2015			2014			2013
Derivatives in Cash Flow Hedging relationships:
Natural gas contracts	$	(1,909	)	$	(1,392	)	$	777
Total	$	(1,909	)	$	(1,392	)	$	777

Reclassification out of Accumulated Other Comprehensive Loss

The following table provides a summary of the effective portion of derivative gain (loss) reclassified from accumulated other comprehensive loss to the Consolidated Statements of Operations:



Year ended December 31, (dollars in thousands)	Location:	2015		2014		2013
Natural gas contracts	Cost of sales	$	2,131	$	573	$	(57	)
Total impact on net income (loss)		$	2,131	$	573	$	(57	)

Schedule of Interest Rate Derivatives

The following table provides a summary of the effective portion of derivative gain (loss) recognized in other comprehensive income (loss):



Year ended December 31, (dollars in thousands)	2015			2014		2013
Derivatives in Cash Flow Hedging relationships:
Interest Rate Swap	$	(2,378	)	$	—	$	—
Total	$	(2,378	)	$	—	$	—

Summary of Derivatives Not Designated as Hedging Instruments Recognized in the Statements of Operations

Gains (losses) on currency derivatives that were not designated as hedging instruments are recorded in other income as follows:



Year ended December 31, (dollars in thousands)	Location:	2015			2014		2013
Currency contracts	Other income (expense)	$	(158	)	$	403	$	(41	)
Total		$	(158	)	$	403	$	(41	)

Natural Gas Contracts

Derivative Instruments, Gain (Loss) [Line Items]

Summary of the Gain (Loss) Recognized in the Statements of Operations

The following table provides a summary of the gain (loss) recognized in other income in the Consolidated Statements of Operations from our natural gas contracts:



Year ended December 31, (dollars in thousands)	2015			2014			2013
Designated contracts with ineffectiveness	$	—		$	—		$	(276	)
De-designated contracts	932			(1,236		)	—
Contracts where hedge accounting was not elected	(714		)	(81		)	—
Total	$	218		$	(1,317	)	$	(276	)

Interest Rate Agreements

Derivative Instruments, Gain (Loss) [Line Items]

Summary of the Gain (Loss) Recognized in the Statements of Operations

The following table provides a summary of the gain (loss) recognized in the Consolidated Statements of Operations from the de-designated portion of our interest rate swap agreement:



Year ended December 31, (dollars in thousands)	2014			2013
Interest rate swap	$	140		$	(208	)
Related long-term debt	(589		)	—
Net impact	$	(449	)	$	(208	)

The following table provides a summary of the gain (loss) recognized in the Consolidated Statements of Operations from the designated portion of our interest rate swap agreement:



Year ended December 31, (dollars in thousands)	2014			2013
Interest rate swap	$	497		$	1,732
Related long-term debt	(735		)	(2,164		)
Net impact	$	(238	)	$	(432	)

The gain or loss on the hedged long-term debt netted with the offsetting gain or loss on the related designated and de-designated interest rate swap was recorded on the Consolidated Statements of Operations as follows:



Year ended December 31, (dollars in thousands)	2014			2013
Loss on redemption of debt	$	(757	)	$	—
Other income (expense)	70			(640		)
Net impact	$	(687	)	$	(640	)