Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivatives by Balance Sheet Line Item

	December 31, 2022
	Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	11,210	$	15,890	$	2,873	$	5,212
Foreign exchange forward contracts not    designated as hedging instruments		603		—		192		—
Aluminum forward contracts designated as    hedging instruments		—		—		1,213		—
Natural gas forward contracts designated as    hedging instruments		498		655		1,520		770
Interest rate swap contracts designated as hedging    instruments		4,112		1,992		—		—
Total derivative financial instruments	$	16,423	$	18,537	$	5,798	$	5,982

	December 31, 2021
	Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	3,161	$	2,194	$	1,845	$	13,565
Foreign exchange forward contracts not    designated as hedging instruments		579		—		3		—
Aluminum forward contracts designated as    hedging instruments		2,677		39		—		—
Natural gas forward contracts designated as    hedging instruments		1,294		418		135		276
Interest rate swap contracts designated as hedging    instruments		—		—		3,887		—
Total derivative financial instruments	$	7,711	$	2,651	$	5,870	$	13,841

Summary of Notional Amount and Estimated Fair Value of Derivative Financial Instruments

The following table summarizes the notional amount and estimated fair value of our derivative financial instruments:

	December 31, 2022					December 31, 2021
	Notional U.S. Dollar Amount		Fair Value			Notional U.S. Dollar Amount		Fair Value
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	462,783	$	19,015		$	458,769	$	(10,055	)
Foreign exchange forward contracts not designated    as hedging instruments		39,726		411			24,419		576
Aluminum forward contracts designated as    hedging instruments		9,495		(1,213	)		37,609		2,716
Natural gas forward contracts designated as hedging    instruments		13,500		(1,137	)		8,915		1,301
Interest rate swap contracts designated as hedging    instruments		250,000		6,104			200,000		(3,887	)
Total derivative financial instruments	$	775,504	$	23,180		$	729,712	$	(9,349	)

Notional amounts are presented on a net basis. The notional amounts of the derivative financial instruments do not represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates or commodity prices.

Summary of Gain or Loss Recognized in Accumulated Other Comprehensive Income or Loss

The following tables summarize the gain or loss recognized in accumulated other comprehensive income or loss (“AOCI”), the amounts reclassified from AOCI into earnings, and the amounts recognized directly into earnings for the years ended December 31, 2022 and 2021:

Year Ended December 31, 2022	Amount of Gain or (Loss) Recognized in AOCI on Derivatives		Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income		Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative contracts	$	28,895	$	14,962	$	2,074

Year Ended December 31, 2021	Amount of Gain or (Loss) Recognized in AOCI on Derivatives			Amount of Pre-tax Gain or (Loss) Reclassified from AOCI into Income		Amount of Pre-tax Gain or (Loss) Recognized in Income on Derivatives
(Dollars in thousands)
Derivative contracts	$	(7,313	)	$	4,106	$	(1,047	)