Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivatives by Balance Sheet Line Item

The following tables display the fair value of derivatives by balance sheet line item at March 31, 2023 and December 31, 2022:

	March 31, 2023
	Other Current Assets		Other Noncurrent Assets		Accrued Liabilities		Other Noncurrent Liabilities
(Dollars in thousands)
Foreign exchange forward contracts designated as    hedging instruments	$	18,152	$	27,857	$	2,306	$	2,934
Foreign exchange forward contracts not    designated as hedging instruments		1,067		—		64		—
Aluminum forward contracts designated as    hedging instruments		—		—		571		—
Natural gas forward contracts designated as    hedging instruments		166		560		1,977		717
Interest rate swap contracts designated as hedging    instruments		3,588		616		—		—
Total derivative financial instruments	$	22,973	$	29,033	$	4,918	$	3,651

	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

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:

	March 31, 2023					December 31, 2022
	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	$	480,941	$	40,769		$	462,783	$	19,015
Foreign exchange forward contracts not designated    as hedging instruments		42,132		1,003			39,726		411
Aluminum forward contracts designated as    hedging instruments		4,245		(571	)		9,495		(1,213	)
Natural gas forward contracts designated as hedging    instruments		13,415		(1,968	)		13,500		(1,137	)
Interest rate swap contracts designated as hedging    instruments		250,000		4,204			250,000		6,104
Total derivative financial instruments	$	790,733	$	43,437		$	775,504	$	23,180

Summary of Gain or Loss Recognized in AOCI

The following tables summarize the gain or loss recognized in AOCI, the amounts reclassified from AOCI into earnings and the amounts recognized directly into earnings for the three months ended March 31, 2023 and March 31, 2022:

Three Months Ended March 31, 2023	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	$	18,120	$	3,928	$	2,595

Three Months Ended March 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	$	16,821	$	4,777	$	870