Derivative Financial Instruments and Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivatives by Financial Statement Line Item

The following tables display the fair value of derivatives by financial statement line item at December 31, 2024 and 2023:

		December 31, 2024
	Fair Value Hierarchy	Current Derivative Financial Instruments		Derivative Financial Instruments		Accrued Liabilities		Other Noncurrent Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts	Level 2	$	20,443	$	14,722	$	451	$	3,664
Commodity contracts	Level 2	$	258	$	14	$	2,341	$	1,233
Interest rate contracts	Level 2	$	1,536		—		—		—
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Level 2	$	341		—		—		—
Embedded derivative contracts	Level 3		—		—	$	626	$	1,403

		December 31, 2023
	Fair Value Hierarchy	Current Derivative Financial Instruments		Derivative Financial Instruments		Accrued Liabilities		Other Noncurrent Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts	Level 2	$	33,075	$	39,902	$	440	$	596
Commodity contracts	Level 2	$	549	$	115	$	2,394	$	729
Interest rate contracts	Level 2	$	3,162	$	454		—		—
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Level 2	$	1,512		—	$	677		—

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

The following table summarizes the notional amount of the Company's derivative financial instruments:

	Notional Amount
	December 31, 2024		December 31, 2023
Derivatives designated as hedging instruments:
Foreign exchange contracts	$	434,327	$	432,529
Commodity contracts - Natural Gas (1)	3,402 Btu		3,497 Btu
Commodity contracts - Aluminum (2)	— MT		7 MT
Interest rate contracts	$	150,000	$	200,000
Derivatives not designated as hedging instruments:
Foreign exchange contracts	$	25,856	$	34,764

(1) Notional units are in thousands of British thermal units (Btu)

(2) Notional units are in thousands of Metric Tons (MT)

Summary of Gain or Loss Recognized in Other Comprehensive Income (Loss)

The following table summarizes the gain or loss recognized in other comprehensive income (loss) (“OCI (OCL)”), the amounts reclassified from accumulated OCI or OCL into earnings, and the amounts recognized directly into earnings for the years ended December 31, 2024 and 2023:

Year Ended December 31,	2024			2023
Derivatives designated as hedging instruments:
Amount of gain or (loss) recognized in OCI (OCL) on derivatives, net of tax	$	(32,213	)	$	40,015
Amount of pre-tax gain or (loss) reclassified from accumulated OCI (OCL) into:
Cost of sales		26,827			22,956
Interest expense, net		4,293			4,893
Derivatives not designated as hedging instruments:
Amount of pre-tax gain or (loss) recognized in other income (expense), net		(3,026	)		5,158

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The estimated fair value, as well as the carrying value, of the Company’s debt instruments are shown below:

	December 31, 2024		December 31, 2023
Estimated fair value	$	531,461	$	627,008
Carrying value		489,388		615,954