Derivative Financial Instruments and Fair Value (Tables)

9 Months Ended

Sep. 30, 2025

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 as of September 30, 2025 and December 31, 2024:

		September 30, 2025
	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	$	—	$	—	$	—	$	—
Commodity contracts	Level 2		—		—		—		—
Interest rate contracts	Level 2		—		—		—		—
Derivatives not designated as hedging instruments:
Foreign exchange contracts	Level 2		—		—		—		—
Embedded derivative contracts	Level 3		—		—		—		572

		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

Summary of Notional Amount of Derivative Financial Instruments

The following table summarizes the notional amount of the Company’s derivative financial instruments as of September 30, 2025 and December 31, 2024:

	Notional Amount
	September 30, 2025		December 31, 2024
Derivatives designated as hedging instruments:
Foreign exchange contracts	$	—	$	434,327
Commodity contracts - Natural Gas (1)		—	3,402 Btu
Commodity contracts - Aluminum (2)		—	— MT
Interest rate contracts	$	—	$	150,000
Derivatives not designated as hedging instruments:
Foreign exchange contracts	$	—	$	25,856

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

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

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 the 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.

Summary of Gain or Loss Recognized in OCI or OCL

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 three and nine months ended September 30, 2025 and 2024:

	Three Months Ended						Nine Months Ended
	September 30, 2025			September 30, 2024			September 30, 2025			September 30, 2024
Derivatives designated as hedging instruments:
Amount of gain or (loss) recognized in OCI on derivatives, net of tax	$	(6,589	)	$	(11,611	)	$	(1,184	)	$	(24,893	)
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Cost of sales		6,186			6,291			16,169			23,106
Interest expense, net		403			1,171			1,321			3,459
Derivatives not designated as hedging instruments:
Amount of pre-tax gain or (loss) recognized in other income (expense), net of tax		291			(1,054	)		3,426			(2,878	)

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:

	September 30, 2025		December 31, 2024
Estimated fair value	$	676,876	$	531,461
Carrying value		631,954		489,388