Superior Industries International (SUP) 10-Q7 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Trading Symbol	SUP
Entity Registrant Name	SUPERIOR INDUSTRIES INTERNATIONAL, INC.
Entity Central Index Key	0000095552
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		28,886,053
Smaller Reporting Company	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-06615
Entity Tax Identification Number	95-2594729
Entity Address, Address Line One	26600 Telegraph Road
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Southfield
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48033
City Area Code	248
Local Phone Number	352-7300
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
NET SALES	$ 321,757	$ 323,077	$ 957,000	$ 1,076,646
Cost of sales	293,123	297,788	875,600	975,746
GROSS PROFIT	28,634	25,289	81,400	100,900
Selling, general and administrative expenses	23,900	16,857	66,108	53,315
Loss on deconsolidation of subsidiary		79,629		79,629
INCOME (LOSS) FROM OPERATIONS	4,734	(71,197)	15,292	(32,044)
Interest expense, net	(17,857)	(15,678)	(49,558)	(47,066)
Loss on extinguishment of debt	(13,052)		(13,052)
Other income (expense), net	2,297	179	2,635	(2,608)
INCOME (LOSS) BEFORE INCOME TAXES	(23,878)	(86,696)	(44,683)	(81,718)
Income tax (provision) benefit	(875)	379	(23,943)	(8,713)
NET INCOME (LOSS)	$ (24,753)	$ (86,317)	$ (68,626)	$ (90,431)
EARNINGS (LOSS) PER SHARE - BASIC	$ (1.24)	$ (3.42)	$ (3.5)	$ (4.29)
EARNINGS (LOSS) PER SHARE - DILUTED	$ (1.24)	$ (3.42)	$ (3.5)	$ (4.29)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (24,753)	$ (86,317)	$ (68,626)	$ (90,431)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	(9,965)	(4,869)	(25,713)	18,304
Change in unrecognized gains (losses) on derivative instruments
Change in fair value of derivatives	(14,790)	(14,673)	(32,047)	38,375
Tax (provision) benefit	3,179	1,472	7,154	(3,112)
Change in unrecognized gains (losses) on derivative instruments, net of tax	(11,611)	(13,201)	(24,893)	35,263
Defined benefit pension plan:
Amortization of actuarial losses on pension obligation	1		4
Tax (provision) benefit			178
Pension changes, net of tax	1		182
Other comprehensive income (loss), net of tax	(21,575)	(18,070)	(50,424)	53,567
Comprehensive income (loss)	$ (46,328)	$ (104,387)	$ (119,050)	$ (36,864)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 24,280	$ 201,606
Accounts receivable, net	103,639	56,393
Inventories, net	145,690	144,609
Income taxes receivable	4,278	1,559
Current derivative financial instruments	24,166	38,298
Other current assets	20,555	17,464
Total current assets	322,608	459,929
Property, plant and equipment, net	355,676	398,599
Deferred income tax assets, net	40,277	52,213
Intangibles, net	18,547	33,242
Derivative financial instruments	22,015	40,471
Other noncurrent assets	42,536	46,117
Total assets	801,659	1,030,571
Current liabilities:
Accounts payable	143,839	124,907
Short-term debt	5,773	5,322
Accrued expenses	68,788	66,838
Income taxes payable	1,115	1,844
Total current liabilities	219,515	198,911
Long-term debt (less current portion)	483,255	610,632
Noncurrent income tax liabilities	5,871	8,129
Deferred income tax liabilities, net	1,025	1,903
Other noncurrent liabilities	46,829	47,821
Commitments and contingent liabilities (Note 15)
Mezzanine equity:
Preferred stock, $0.01 par value Authorized - 1,000,000 shares Issued and outstanding - 150,000 shares outstanding at September 30, 2024 and December 31, 2023	276,467	248,222
Noncontrolling redeemable equity	546	893
Shareholders' equity (deficit):
Common stock, $0.01 par value Authorized - 100,000,000 shares Issued and outstanding - [28,886,053] and 28,091,440 shares at September 30, 2024 and December 31, 2023	120,093	115,340
Accumulated other comprehensive income (loss)	(72,715)	(22,291)
Retained earnings (deficit)	(279,227)	(178,989)
Total shareholders' equity (deficit)	(231,849)	(85,940)
Total liabilities, mezzanine equity and shareholders' equity (deficit)	$ 801,659	$ 1,030,571

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	150,000	150,000
Preferred stock, shares outstanding	150,000	150,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	28,886,053	28,091,440
Common stock, shares outstanding	28,886,053	28,091,440

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (68,626)	$ (90,431)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization	65,534	69,934
Income tax, noncash changes	16,254	9,258
Stock-based compensation	6,098	4,359
Amortization of debt issuance costs	3,974	3,609
Loss on deconsolidation of subsidiary		79,629
Loss on extinguishment of debt	13,052
Other noncash items	(8,978)	(4,690)
Accounts receivable	(54,373)	(37,969)
Inventories	(2,744)	(8,195)
Other assets and liabilities	6,283	12,651
Accounts payable	21,411	(5,141)
Income taxes	(5,742)	(12,921)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	(7,857)	20,093
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant, and equipment	(20,985)	(29,483)
Deconsolidation of subsidiary cash		(4,447)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	(20,985)	(33,930)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	337,317
Repayments of debt	(466,294)	(14,016)
Proceeds from borrowings on revolving credit facility	28,000
Repayments of borrowings on revolving credit facility	(28,000)
Cash dividends paid	(3,413)	(6,751)
Financing costs paid and other	(8,967)	(104)
Redemption premium paid on term loan repayment	(3,680)
Payments related to tax withholdings for stock-based compensation	(1,345)	(3,307)
Finance lease payments	(452)	(580)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	(146,834)	(24,758)
Effect of exchange rate changes on cash	(1,650)	2,050
Net changes in cash and cash equivalents	(177,326)	(36,545)
Cash and cash equivalents at the beginning of the period	201,606	213,022
Cash and cash equivalents at the end of the period	24,280	176,477
Supplemental Cash Flow Information
Cash paid during the period for interest	46,507	43,078
Cash paid during the period for income taxes, net of refunds	13,316	12,369
Non-cash Investing Activities
Period end balance of accounts payable for property, plant, and equipment	3,860	$ 5,840
Non-cash Financing Activities
Debt modification	$ 169,683

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock	Cumulative Translation Adjustment	Hedging Instruments	Pension Obligations	Retained Earnings (Deficit)
Beginning of period at Dec. 31, 2022	$ (25,297)	$ 111,105	$ (110,704)	$ 19,844	$ 1,591	$ (47,133)
Beginning of the period (in shares) at Dec. 31, 2022		27,016,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(90,431)					(90,431)
Change in accumulated other comprehensive income (loss), net of tax	53,567		18,304	35,263
Common stock issued, net of shares withheld for employee taxes (in shares)		1,075,315
Stock-based compensation	1,052	$ 1,052
Redeemable preferred 9% dividend and accretion	(28,938)					(28,938)
Noncontrolling redeemable equity dividend	(29)					(29)
End of period at Sep. 30, 2023	(90,076)	$ 112,157	(92,400)	55,107	1,591	(166,531)
End of the period (in shares) at Sep. 30, 2023		28,091,440
Beginning of period at Jun. 30, 2023	22,817	$ 110,802	(87,531)	68,308	1,591	(70,353)
Beginning of the period (in shares) at Jun. 30, 2023		28,091,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(86,317)					(86,317)
Change in accumulated other comprehensive income (loss), net of tax	(18,070)		(4,869)	(13,201)
Stock-based compensation	1,355	$ 1,355
Redeemable preferred 9% dividend and accretion	(9,853)					(9,853)
Noncontrolling redeemable equity dividend	(8)					(8)
End of period at Sep. 30, 2023	(90,076)	$ 112,157	(92,400)	55,107	1,591	(166,531)
End of the period (in shares) at Sep. 30, 2023		28,091,440
Beginning of period at Dec. 31, 2023	$ (85,940)	$ 115,340	(83,002)	59,859	852	(178,989)
Beginning of the period (in shares) at Dec. 31, 2023	28,091,440	28,091,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (68,626)					(68,626)
Change in accumulated other comprehensive income (loss), net of tax	(50,424)		(25,713)	(24,893)	182
Common stock issued, net of shares withheld for employee taxes (in shares)		794,613
Stock-based compensation	4,753	$ 4,753
Redeemable preferred 9% dividend and accretion	(31,601)					(31,601)
Noncontrolling redeemable equity dividend	(11)					(11)
End of period at Sep. 30, 2024	$ (231,849)	$ 120,093	(108,715)	34,966	1,034	(279,227)
End of the period (in shares) at Sep. 30, 2024	28,886,053	28,886,053
Beginning of period at Jun. 30, 2024	$ (176,446)	$ 118,082	(98,750)	46,577	1,033	(243,388)
Beginning of the period (in shares) at Jun. 30, 2024		28,886,053
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(24,753)					(24,753)
Change in accumulated other comprehensive income (loss), net of tax	(21,575)		(9,965)	(11,611)	1
Stock-based compensation	2,011	$ 2,011
Redeemable preferred 9% dividend and accretion	(11,081)					(11,081)
Noncontrolling redeemable equity dividend	(5)					(5)
End of period at Sep. 30, 2024	$ (231,849)	$ 120,093	$ (108,715)	$ 34,966	$ 1,034	$ (279,227)
End of the period (in shares) at Sep. 30, 2024	28,886,053	28,886,053

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Preferred stock, dividend rate, percentage	9%	9%	9%	9%

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (24,753)	$ (86,317)	$ (68,626)	$ (90,431)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	(c) Rule 10b5-1 Trading Plans. On September 9, 2024 , Majdi Abulaban , our Chief Executive Officer and a Director, adopted a Rule 10b5-1 trading arrangement as defined in Regulation S-K Item 408, which is intended to satisfy the affirmative defense in Rule 10b5-1(c) of the Exchange Act. Mr. Abulaban’s trading arrangement, which expires on June 30, 2025, provides for the sale of up to 500,000 shares of common stock in amounts and at prices in accordance with the plan. No other officers or directors adopted and/or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the three months ended September 30, 2024.
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Majdi Abulaban
Trading Arrangements, by Individual
Name	Majdi Abulaban
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 9, 2024
Aggregate Available	500,000

Nature of Operations and Presen

Nature of Operations and Presentation of Condensed Consolidated Financial Statements	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Nature of Operations and Presentation of Condensed Consolidated Financial Statements	NOTE 1 – NATURE OF OPERATIONS AND PRESENTATION OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Nature of Operations The principal business of Superior Industries International, Inc. (referred herein as the “Company” or “Superior”) is the design and manufacture of aluminum wheels for sale to original equipment manufacturers (“OEMs”) in North America and Europe, and to the aftermarket in Europe. The Company’s aluminum wheels are primarily sold to OEMs for factory installation on new light vehicles. Aluminum wheels sold in the European aftermarket are under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the primary markets for the Company’s products, but it has a diversified global customer base consisting of North American, European, and Asian OEMs. Presentation of Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments, of a normal and recurring nature, which management believes are necessary for fair presentation of the financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission on March 7, 2024 (the “2023 Form 10-K”). These unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions are eliminated in consolidation. Interim financial reporting standards require the use of estimates that are based on assumptions regarding the outcome of future events and circumstances not known at that time. Inevitably, some assumptions will not materialize, unanticipated events or circumstances may occur which vary from those estimates and such variations may significantly affect future results. Additionally, operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. Accounting Standards Issued But Not Yet Adopted Accounting Standards Update (ASU) 2023-07, “Segment Reporting.” In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, ” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment’s profit or loss to assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity’s segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker ( “ CODM ” ), clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures, providing new disclosure requirements for entities with a single reportable segment, and requiring other new disclosures. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the effects of adopting this guidance. Accounting Standards Update (ASU) 2023-09, “Income Taxes (Topic 740).” In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures, ” which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public entity to disclose a tabular tax rate reconciliation, using both percentages and currency, with specific categories. A public entity is also required to provide a qualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income tax category and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated by individual jurisdictions. The amendments are effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The Company is currently evaluating the effects of adopting this guidance.

Revenue

Revenue	9 Months Ended
Revenue	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 2 – REVENUE The Company disaggregates revenue from contracts with customers by its reportable segments, North America and Europe. Revenues by segment for the three and nine months ended September 30, 2024 and 2023 are summarized in Note 5, “Business Segments.” The opening and closing balances of customer receivables and current and long-term contract liabilities balances are as follows: September 30, December 31, Change Customer receivables $ 90,681 $ 41,879 $ 48,802 Contract liabilities—current 6,156 2,982 3,174 Contract liabilities—noncurrent 6,915 8,530 ( 1,615 )

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
Derivative Financial Instruments	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	NOTE 3 - DERIVATIVE FINANCIAL INSTRUMENTS The Company is exposed to market risks such as fluctuations in foreign currency exchange rates, interest rates, and aluminum and other commodity prices. Derivatives may be used to offset some of the effects of these market risks on the expected future cash flows and on certain existing assets and liabilities. In certain cases, the Company may or may not designate certain derivative instruments as hedges for accounting purposes. The Company may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. Market Risks Foreign Currency Exchange Rate Risk The Company has manufacturing locations primarily in Mexico and Poland, and sells its products globally. As a result, the Company’ s financial results could be significantly affected by foreign currency exchange rates. To help mitigate gross margin and cash flow fluctuations due to changes in foreign currency exchange rates, certain subsidiaries in Mexico and Poland, whose functional currency is the U.S. dollar or the Euro, hedge a portion of their forecasted foreign currency costs denominated in the Mexican Peso and Polish Zloty. The Company may hedge portions of its forecasted foreign currency exposure up to 48 months. Interest Rate Risk The Company has borrowings under its Senior Secured Credit Facilities that are at variable rates of interest and expose it to interest rate risk. If interest rates increase, debt service obligations on the variable rate indebtedness will increase even though the amount borrowed remains the same. The Company has entered into interest rate swaps exchanging floating for fixed-rate interest payments in order to reduce its interest rate volatility. Commodity Price Risk The principal raw material used in manufacturing aluminum wheels is aluminum alloys. While wheel prices under OEM customer contracts are adjusted for fluctuations in the cost of this material, the prices of its aftermarket wheels are generally fixed months in advance of the spring and winter sales seasons. Accordingly, the Company hedges a portion of its aftermarket aluminum purchases to offset the effect of fluctuating aluminum cost on its margins. In addition, the manufacture of aluminum wheels is energy-intensive, so the Company fixes a portion of its natural gas and electricity purchases with derivatives or contractual arrangements with energy suppliers. Derivative Financial Instruments The Company has derivatives designated as cash flow hedges that hedge the exposure to variability in expected future cash flows. These derivatives are accounted for as either assets or liabilities and adjusted to fair value each period with the resulting gain or loss recognized in other comprehensive income or loss (“OCI” or “OCL”) until the underlying hedged transaction is recognized in earnings. Once the hedged transaction is recognized in earnings for foreign exchange and commodity derivatives, the gain or loss initially recorded in accumulated OCI or OCL is recognized in cost of sales, while gains or losses on interest rate swaps are recognized in interest expense, net. Derivatives that have not been designated as hedges are adjusted to fair value each period and any gain or loss is recognized in other income (expense), net. The Company has also recorded a derivative liability related to an embedded feature within the redeemable preferred stock (refer to Note 10 “Redeemable Shares”) and the term loan facility (refer to Note 8 “Debt”). The following tables display the fair value of derivatives by financial statement line item as of September 30, 2024 and December 31, 2023: September 30, 2024 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 22,228 $ 22,002 $ 404 $ 729 Commodity contracts 281 1 1,714 1,639 Interest rate contracts 1,314 12 — — Derivatives not designated as hedging instruments: Foreign exchange contracts 343 — 18 — Embedded derivative contracts — — — 4,178 Total derivative financial instruments $ 24,166 $ 22,015 $ 2,136 $ 6,546 December 31, 2023 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 33,075 $ 39,902 $ 440 $ 596 Commodity contracts 549 115 2,394 729 Interest rate contracts 3,162 454 — — Derivatives not designated as hedging instruments: Foreign exchange contracts 1,512 — 677 — Total derivative financial instruments $ 38,298 $ 40,471 $ 3,511 $ 1,325 The following table summarizes the notional amount of the Company’s derivative financial instruments as of September 30, 2024 and December 31, 2023: Notional Amount September 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts $ 410,703 $ 432,529 Commodity contracts 14,269 27,013 Interest rate contracts 200,000 200,000 Derivatives not designated as hedging instruments: Foreign exchange contracts 30,957 34,764 Total derivative financial instruments $ 655,929 $ 694,306 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, such as interest rates, foreign currency exchange rates or commodity prices. The following table summarizes the gain or loss recognized in OCI or 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, 2024 and 2023: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives designated as hedging instruments: Amount of gain or (loss) recognized in OCI on derivatives, net of tax $ ( 11,611 ) $ ( 13,201 ) $ ( 24,893 ) $ 35,263 Amount of pre-tax gain or (loss) reclassified from accumulated OCI into: Cost of sales 6,291 7,767 23,106 15,745 Interest expense, net 1,171 1,371 3,459 3,471 Derivatives not designated as hedging instruments: Amount of pre-tax gain or (loss) recognized in other income (expense), net ( 1,054 ) ( 375 ) ( 2,878 ) 3,618

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 4 – FAIR VALUE MEASUREMENTS Assets and Fair Values Measured at Fair Value on a Recurring Basis Asset and Liability Instruments The carrying values for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their fair values due to the short period of time until maturity. Derivative Financial Instruments The Company has over-the-counter customized derivative instruments and are not exchange-traded. The fair value of these instruments is estimated using the income valuation approach, which projects future cash flows and discounts the future amounts to a present value using market-based expectations for interest rates, foreign exchange rates, commodity prices, and the contractual terms of the derivative instruments. The discount rate used is the relevant benchmark rate (e.g., the secured overnight financing rate, “ SOFR ” ) plus an adjustment for counterparty risk. The fair value measurements of certain derivative liabilities rely primarily on Company-specific inputs, as observable inputs are not available. The following tables categorize items measured at fair value as of September 30, 2024 and December 31, 2023: Fair Value Hierarchy September 30, December 31, Derivative assets Level 2 $ 46,181 $ 78,769 Derivative liabilities Level 2 $ 4,504 $ 4,836 Derivative liabilities Level 3 $ 4,178 $ — Financial Instruments Not Carried at Fair Value Debt Instruments The carrying values of the Company’s debt instruments differ from their fair values. The fair values are determined by reference to transacted prices and quotes for these instruments (Level 2). The estimated fair value, as well as the carrying value, of the Company’s debt instruments are shown below: September 30, December 31, Estimated fair value $ 532,667 $ 627,008 Carrying value 489,028 615,954

Business Segments

Business Segments	9 Months Ended
Business Segments	Sep. 30, 2024
Segment Reporting [Abstract]
Business Segments	NOTE 5 - BUSINESS SEGMENTS North America and Europe comprise the Company’s reportable segments. Segment results for the three and nine months ended September 30, 2024 and 2023 were as follows: Net Sales Depreciation and Amortization Income (Loss) from Operations Three Months Ended September 30, September 30, September 30, September 30, September 30, September 30, North America $ 206,233 $ 194,873 $ 9,968 $ 10,207 $ 13,893 $ 14,286 Europe 115,524 128,204 11,732 13,419 ( 9,159 ) ( 85,483 ) $ 321,757 $ 323,077 $ 21,700 $ 23,626 $ 4,734 $ ( 71,197 ) Net Sales Depreciation and Amortization Income (Loss) from Operations Nine Months Ended September 30, September 30, September 30, September 30, September 30, September 30, North America $ 602,944 $ 614,696 $ 30,645 $ 28,632 $ 35,170 $ 57,505 Europe 354,056 461,950 34,889 41,302 ( 19,878 ) ( 89,549 ) $ 957,000 $ 1,076,646 $ 65,534 $ 69,934 $ 15,292 $ ( 32,044 ) Total Assets September 30, December 31, North America $ 426,431 $ 625,612 Europe 375,228 404,959 $ 801,659 $ 1,030,571

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	NOTE 6 - INVENTORIES Inventory by major classification as of September 30, 2024 and December 31, 2023 was as follows: September 30, December 31, Raw materials $ 40,299 $ 44,539 Work in process 37,826 25,289 Finished goods 67,565 74,781 Inventories, net $ 145,690 $ 144,609 Service wheel and supplies inventory are included in other noncurrent assets and were $ 8.4 million and $ 11.7 million at September 30, 2024 and December 31, 2023 .

Intangible Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 7 – INTANGIBLE ASSETS Amortization for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Amortization expense $ 4,943 $ 4,892 $ 14,669 $ 14,616 Annual Anticipated Future Amortization Amount Three Remaining Months of 2024 $ 5,022 2025 9,869 2026 2,581 2027 1,075 Total anticipated future amortization $ 18,547

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	NOTE 8 – DEBT A summary of the Company ’s long-term obligations as of September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 December 31, 2023 Principal Carrying Value Principal Carrying Value Senior Secured Credit Facilities: Revolving Credit Facility $ — $ — $ — $ — Term Loan Facility 520,000 488,061 396,000 375,920 Senior Notes: 6.00 % Senior Notes — — 239,601 238,126 Other debt: European CapEx loans — — 784 784 Finance leases 967 967 1,124 1,124 489,028 615,954 Less: Current portion of long-term debt ( 5,773 ) ( 5,322 ) Long-term debt $ 483,255 $ 610,632 Debt maturities as of September 30, 2024, which are due in the next five years are as follows: Debt Maturities Amount Three remaining months of 2024 $ 1,873 2025 5,343 2026 5,402 2027 5,288 2028 503,061 Total debt liabilities $ 520,967 Senior Secured Credit Facilities On December 15, 2022, the Company entered into a $ 400.0 million term loan facility (the “2022 Term Loan Facility”) pursuant to a credit agreement (the “2022 Term Loan Credit Agreement”) with Oaktree Fund Administration L.L.C., in its capacity as the administrative agent, JPMorgan Chase Bank, N.A., in its capacity as collateral agent, and other lenders party thereto. Concurrent with the execution of the 2022 Term Loan Facility, the Company entered into a $ 60.0 million revolving credit facility (the “Revolving Credit Facility”) pursuant to a credit agreement (the “Revolving Credit Agreement”) with JPMorgan Chase Bank, N.A., in its capacity as administrative agent, collateral agent and issuing bank, and other lenders and issuing banks thereunder. On August 14, 2024, the Company amended and restated the 2022 Term Loan Credit Agreement in the form of an amended and restated credit agreement, by and among Oaktree Fund Administration L.L.C., in its capacity as the administrative agent, JPMorgan Chase Bank, N.A., in its capacity as a collateral agent, and the lenders party thereto (the “Amended and Restated Term Loan Credit Agreement” and, together with the Revolving Credit Agreement, the “Credit Agreements”), pursuant to which the Company incurred a new $ 520.0 million term loan facility (the “Term Loan Facility” and, together with the Revolving Credit Facility, the “Senior Secured Credit Facilities” or “SSCF”). The proceeds of the Term Loan Facility were used to (i) refinance the 2022 Term Loan Facility, (ii) discharge the Company’s 6.000 % Senior Notes due 2025, (iii) pay fees and expenses in connection with the foregoing, and (iv) for general corporate purposes. The Term Loan Facility matures on December 15, 2028 (with no springing maturity). During the three and nine months ended September 30, 2024 , the Company recognized a $ 12.2 million loss on extinguishment of debt related to the prepayment of the 2022 Term Loan Credit Agreement in connection with the debt refinancing. Simultaneously with the execution of the Amended and Restated Term Loan Credit Agreement, the Company amended the Revolving Credit Facility pursuant to the First Amendment to Credit Agreement to, among other things (i) amend the financial covenants contained in the Revolving Credit Agreement, (ii) amend the maturity date applicable to the revolving commitments to remove the springing maturity applicable, thereto and (iii) require that the borrowings under the Revolving Credit Agreement be repaid in the event the Company holds cash in excess of a certain threshold. The revolving commitments will mature on December 15, 2027 . Prepayments Amounts borrowed under the Term Loan Facility may be voluntarily prepaid subject to a prepayment premium of 2.00 % of the loan principal plus the net present value of any lost interest in the first year, and 2.00 % and 1.00 % of the loan principal during second and third years. After the third anniversary of the date of the amendment and restatement date, there is no prepayment premium. The Credit Agreements include certain mandatory prepayment provisions, including, among others, a requirement (i) to prepay amounts outstanding under the Revolving Credit Facility, if any, with any cash on hand in excess of $ 50 million at the end of each calendar month, (ii) to prepay amounts under the Term Loan Facility with any amount of Liquidity (defined as the sum of unrestricted cash and cash equivalent balances and amounts available to be drawn under the Revolving Credit Facility), after giving effect to any prepayment required under clause (i) above, in excess of $ 80 million at the end of each calendar, month and (iii) to prepay the Term Loan Facility with 75 % of Excess Cash Flow (as defined in the Amended and Restated Term Loan Credit Agreement) generated by the Company, subject to customary deductions. The Amended and Restated Term Loan Credit Agreement contains a mandatory prepayment provision upon the event of default, which the Company has accounted for separately as a derivative liability. As of September 30, 2024 , the Company has recorded a derivative liability of $ 2.1 million in the condensed consolidated balance sheet. Interest Rates Borrowings under the Amended and Restated Term Loan Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) the secured overnight financing rate (“SOFR”), with a floor of 2.50 % per annum, or (ii) a base rate (“Term Base Rate”), with a floor of 2.50 % per annum, equal to the highest of (1) the rate of interest in effect as publicly announced by the administrative agent as its prime rate, (2) the New York Federal Reserve Bank (the “NYFRB”) rate plus 0.50 %, and (3) SOFR for an interest period of one month plus 1.00 % , in each case, plus the applicable rate of 7.50 % per annum for SOFR loans and 6.50 % per annum for Term Base Rate loans. In the event of a payment default under the Term Loan Credit Agreement, past due amounts shall be subject to an additional default interest rate of 2.00 %. As of September 30, 2024, the interest rate in effect on borrowings under the Amended and Restated Term Loan Credit Facility was 12.6 %. Borrowings under the Revolving Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) SOFR plus 0.10 % (or, with respect to any borrowings denominated in Euros, the adjusted Euro Interbank Offered Rate, “EURIBOR”), with a floor of 0.00 % per annum or (ii) a base rate (“Revolving Loan Base Rate”), with a floor of 1.00 % per annum, equal to the highest of (1) the rate of interest in effect as publicly announced by the administrative agent as its prime rate, (2) the NYFRB rate plus 0.50 % and (3) SOFR for an interest period of one month plus 1.00 % , in each case, plus the applicable rate. The applicable rate is determined by reference to the Company’s Secured Net Leverage Ratio (as defined in the Revolving Credit Agreement) and ranges between 3.50 % and 4.50 % per annum for SOFR ( 4.5 % per annum for the current fiscal quarter) and EURIBOR loans, and between 2.50 % and 3.50 % per annum for Revolving Base Rate loans ( 3.5 % per annum for the current fiscal quarter). The commitment fee for the unused commitment under the Revolving Credit Facility varies between 0.50 % and 0.625 % per annum depending on the Company’s Secured Net Leverage Ratio ( 0.625 % per annum for the current fiscal quarter). Commitment fees are included in interest expense. In the event of a payment default under the Revolving Credit Agreement, past due amounts shall be subject to an additional default interest rate of 2.00 % . Guarantees and Collateral Security The Company’s obligations under the Credit Agreements are unconditionally guaranteed by all material subsidiaries of the Company (collectively, the “SSCF Subsidiary Guarantors”), with customary exceptions including, among other things, where providing such guarantees is not permitted by law, regulation or contract or would result in adverse tax consequences. The guarantees of such obligations are secured, subject to permitted liens and other exceptions, by substantially all of the Company’s assets and the SSCF Subsidiary Guarantors’ assets, including but not limited to: (i) a perfected pledge of all of the capital stock issued by each of the SSCF Subsidiary Guarantors (subject to certain exceptions) and (ii) perfected security interests in and mortgages on substantially all tangible and intangible personal property and material fee-owned real property of the Company and the SSCF Subsidiary Guarantors (subject to certain exceptions and exclusions). The Company’s obligations under the Credit Agreements are secured by liens on a pari passu basis, but the obligations under the Revolving Credit Agreement have payment priority over the obligations under the Term Loan Credit Agreement. Covenants The Credit Agreements contain a number of restrictive covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability to incur additional indebtedness and guarantee indebtedness, create or incur liens, engage in mergers or consolidations, sell, transfer or otherwise dispose of assets, make investments, acquisitions, loans or advances, pay dividends, distributions or other restricted payments, or repurchase its capital stock. The Credit Agreements also restrict the Company’s ability to prepay, redeem or repurchase any subordinated indebtedness or preferred stock, enter into agreements that limit its ability to incur liens on its assets or that restrict the ability of restricted subsidiaries to pay dividends or make other restricted payments, and enter into certain transactions with its affiliates. The Amended and Restated Term Loan Credit Agreement requires the Company to maintain: (i) A Secured Net Leverage Ratio (as defined in the Amended and Restated Term Loan Credit Agreement) of no more than 3.75 : 1.00 for the relevant test periods ending during the period beginning on December 31, 2024 through and including March 31, 2025, and no more than 3.50 : 1.00 for the relevant test periods ending on June 30, 2025 and thereafter; and (ii) Liquidity of at least $ 37.5 million (subject to adjustments up to $ 50.0 million following any increase in the commitment under the Revolving Credit Facility). The Revolving Credit Agreement requires the Company to maintain: (i) A Total Net Leverage Ratio (as defined in the Revolving Credit Agreement) of no more than 4.75 : 1.00 for the test period ending September 30, 2024, and no more than 4.50 : 1.00 for each test period ending thereafter; (ii) A Secured Net Leverage Ratio (as defined in the Revolving Credit Agreement) of no more than 4.75 : 1.00 for the test period ending September 30, 2024, no more than 3.75 : 1.00 for the relevant test periods ending during the period beginning December 31, 2024 through March 31, 2025, and no more than 3.50 : 1.00 for the relevant test periods ending on June 30, 2025 and thereafter; and (iii) Liquidity of at least $ 37.5 million (subject to adjustments up to $ 50.0 million following any increase in the commitment under the Revolving Credit Facility) but only so long as loans under the Amended and Restated Term Loan Facility are outstanding. Additionally, if the Company pays the preferred stock dividends in cash to the preferred shareholders, the Credit Agreements require it to maintain a Fixed Charge Coverage Ratio (as defined in the Credit Agreements) to be less than 1.10 : 1.00 at the end of the period such payment is made. The Credit Agreements contain customary default provisions that include among other things: non-payment of principal or interest when due, failure to comply with obligations, covenants or other provisions in the Credit Agreements, any failure of representations and warranties, cross-default under other debt agreements for obligations in excess of $ 20.0 million, insolvency, failure to pay judgments in excess of $ 20.0 million within 60 days of the judicial award, failure to pay any material plan withdrawal obligations under ERISA, invalidity of the loan agreement, invalidity of any security interest in the loan collateral, change of control and failure to maintain the financial covenants. In the event a default occurs, all commitments under the Senior Secured Credit Facilities would be terminated and the lenders would be entitled to declare the principal, premium, if any, and accrued and unpaid interest on all borrowings outstanding to be due and payable. In addition, the Credit Agreements contain customary representations and warranties and other covenants. As of September 30, 2024, the Company was in compliance with all covenants under the Credit Agreements. Available Unused Commitments under the Revolving Credit Facility As of September 30, 2024 , the Company had no outstanding borrowings under the Revolving Credit Facility and unused commitments of $ 52.5 million, which has been reduced for outstanding letters of credit of $ 7.5 million. Senior Notes On June 15, 2017, the Company issued € 250 million aggregate principal amount of 6.000 % Senior Notes due June 15, 2025 (the “Notes”). In connection with the closing of the Amended and Restated Term Loan Credit Agreement, the Company redeemed all of the Notes remaining outstanding at a redemption price of 100.000 % of the principal amount thereof, plus accrued and unpaid interest to, but excluding, August 26, 2024 (the “Redemption Date”), in accordance with the Indenture, dated June 15, 2017 (the “Indenture”), between the Company, certain subsidiary guarantors party thereto, The Bank of New York Mellon SA/NV, Luxembourg Branch, as registrar and transfer agent and The Bank of New York Mellon acting through its London Branch, as trustee. As of the Redemption Date, the Notes were no longer deemed outstanding and interest on the Notes ceased to accrue. During the three and nine months ended September 30, 2024 , the Company recognized a $ 0.9 million loss on extinguishment of debt in connection with the redemption of the Notes. European Debt In connection with the acquisition of UNIWHEELS AG in 2017, the Company assumed $ 70.7 million of outstanding debt. As of December 31, 2023, $ 0.8 million of the assumed debt remained outstanding. The outstanding debt was repaid in full during the nine months ended September 30, 2024 .

Supplier Finance Program

Supplier Finance Program	9 Months Ended
Supplier Finance Program	Sep. 30, 2024
Supplier Finance Program [Abstract]
Supplier Finance Program	NOTE 9 - SUPPLIER FINANCE PROGRAM The Company receives extended payment terms for a portion of its purchases (90 days rather than 60 days) with one of its principal aluminum suppliers in exchange for a nominal adjustment to the product pricing. The supplier factors receivables due from the Company with a financial institution. Obligations due to the factoring institution under this program as of September 30, 2024 and December 31, 2023 were $ 19.3 million and $ 18.0 million.

Redeemable Shares

Redeemable Shares	9 Months Ended
Redeemable Shares	Sep. 30, 2024
Text Block [Abstract]
Redeemable Shares	NOTE 10 - REDEEMABLE SHARES Preferred Stock During the three and nine months ended September 30, 2024 , preferred stock dividends of $ 3.4 million and $ 6.8 million were paid-in-kind, which increased the stated value of the preferred stock. As of September 30, 2024 and December 31, 2023, the stated values of the preferred stock were $ 156.8 million and $ 150.0 million, and the corresponding carrying values were $ 276.5 million and $ 248.2 million. The preferred shares will continue to accrue dividends at 9.0 % on the stated value. The associated redemption premium on the increase in the stated value will be accreted from July 1, 2024 through September 14, 2025 using the interest method. The redemption value of the preferred stock will be the greater of (i) two times the stated value ($ 156.8 million) plus any accrued unpaid dividends, currently $ 313.5 million as of September 30, 2024 , or (ii) the product of the number of common shares into which the redeemable preferred stock could be converted ( 5.6 million shares currently) and the then-current market price of the common stock. The redeemable preferred stock may be redeemed at the holder’s election on or after September 14, 2025 or upon the occurrence of a redemption event, provided the Company has cash legally available to pay such redemption. If the Company is unable to redeem the shares of preferred stock in full, any shares of preferred stock not redeemed would continue to receive an annual dividend of 9.0 % on the stated value which would be payable quarterly. The Board of Directors would have to evaluate periodically the ability of the Company to make any redemption payments until the full redemption amount has been paid. As of September 30, 2024, there have been no changes in the preferred shareholder rights, including conversion and redemption rights from those described in the Company’s 2023 Form 10-K. Noncontrolling Redeemable Equity The Company has a noncontrolling interest that is currently redeemable. It is presented in the temporary equity section of the condensed consolidated balance sheets and is adjusted to its redemption value at the end of each reporting period.

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 11 – EARNINGS PER SHARE Basic earnings per share is computed by dividing net income (loss), after deducting preferred dividends and accretion, and European noncontrolling redeemable equity dividends, by the weighted average number of common shares outstanding. For purposes of calculating diluted earnings per share, the weighted average shares outstanding includes the dilutive effect of outstanding stock options, and time and performance based restricted stock units under the treasury stock method. The redeemable preferred shares discussed in Note 10, “Redeemable Shares” (convertible into 5,566 thousand shares) are participating securities and have not been included in the diluted earnings per share because they would be anti-dilutive for the three and nine months ended September 30, 2024 and 2023. In calculating basic and diluted earnings per share, a company with participating securities must allocate earnings to the participating securities with a corresponding reduction in the earnings attributable to common shares under the two-class method. Losses are only allocated to participating securities when the security holders have a contractual obligation to share in the losses of the Company with common stockholders. Because the redeemable preferred shareholders do not have a contractual obligation to share in the Company’s losses with common stockholders, the full amount of the Company’s losses for the three and nine months ended September 30, 2024 and 2023 were attributed to the common shares. Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (Dollars in thousands, except per share amounts) Net income (loss) attributable to common shareholders $ ( 24,753 ) $ ( 86,317 ) $ ( 68,626 ) $ ( 90,431 ) Redeemable preferred stock dividends and accretion ( 11,081 ) ( 9,853 ) ( 31,601 ) ( 28,938 ) Noncontrolling redeemable equity dividend ( 5 ) ( 8 ) ( 11 ) ( 29 ) Basic numerator $ ( 35,839 ) $ ( 96,178 ) $ ( 100,238 ) $ ( 119,398 ) Weighted average shares outstanding – Basic 28,886 28,091 28,625 27,812 Dilutive effect of common share equivalents — — — — Weighted average shares outstanding – Diluted 28,886 28,091 28,625 27,812 Basic earnings (loss) per share $ ( 1.24 ) $ ( 3.42 ) $ ( 3.50 ) $ ( 4.29 ) Diluted earnings (loss) per share $ ( 1.24 ) $ ( 3.42 ) $ ( 3.50 ) $ ( 4.29 )

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 - INCOME TAXES For interim periods, we generally utilize the estimated annual effective tax rate method under which the estimated annual effective tax rate is forecasted quarterly using actual historical information and forward-looking estimates and applied to year-to-date ordinary income. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances, settlements with taxing authorities and effects of changes in tax laws or rates, and changes due to tax restructuring are reported in the interim period in which they occur. For the three and nine months ended September 30, 2024, we used the discrete period computation method. Use of the estimated annual effective tax rate method would not have provided a reliable estimate as small changes in the forecasted ordinary annual income resulted in significant changes in the estimated annual effective tax rate. The income tax provision for the three and nine months ended September 30, 2024 was $ 0.9 million and $ 23.9 million on pre-tax losses of $ 23.9 million and $ 44.7 million, resulting in an effective income tax rate of ( 3.7 )% and ( 53.6 )% . The effective income tax rate for the three months ended September 30, 2024 differs from the statutory rate primarily due to valuation allowances and the mix of earnings among tax jurisdictions. The effective income tax rate for the nine months ended September 30, 2024 differs from the statutory rate primarily due to valuation allowances, the reversal of an uncertain tax position, the mix of earnings among tax jurisdictions, and a deferred tax charge related to a tax restructuring of $ 17.8 million. The income taxes for the three and nine months ended September 30, 2023 was a $ 0.4 million tax benefit and a $ 8.7 million tax provision on pre-tax losses of $ 86.7 million and $ 81.7 million, resulting in an effective income tax rate of 0.4 % and ( 10.7 )%. The effective income tax rate for the three months ended September 30, 2023 differs from the statutory rate primarily due to valuation allowances and the mix of earnings among tax jurisdictions. The effective income tax rate for the nine months ended September 30, 2023 differs from the statutory rate primarily due to valuation allowances, the reversal of an uncertain tax position, and the mix of earnings among tax jurisdictions. The Company continuously evaluates the realizability of its net deferred tax assets. As of September 30, 2024, certain U.S. and substantially all its German deferred tax assets, net of deferred tax liabilities, were subject to valuation allowances. The Organization for Economic Co-operation and Development issued Pillar Two model rules introducing a new global minimum tax of 15.0 % effective January 1, 2024. While the United States has not yet adopted the Pillar Two rules, various other governments around the world have enacted part of the legislation. As currently designed, Pillar Two ultimately applies to the Company ’ s worldwide operations. Currently, enacted Pillar Two legislation does not have a material effect on the consolidated financial statements. The Company continue to assess U.S. and global legislative action related to Pillar Two for potential effects.

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2024
Leases [Abstract]
Leases	NOTE 13 - LEASES The Company determines whether an arrangement is or contains a lease at the inception of the arrangement. Operating leases are included in other noncurrent assets, accrued expenses, and other noncurrent liabilities in the condensed consolidated balance sheets. Finance leases are included in property, plant and equipment, net, short-term debt, and long-term debt (less current portion) in the condensed consolidated balance sheets. Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Finance and operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of the lease payments over the lease term. Since the Company generally does not have access to the interest rate implicit in the lease, it uses its incremental borrowing rate (for fully collateralized debt) at the inception of the lease in determining the present value of the lease payments. The implicit rate is, however, used where readily available. Lease expense under operating leases is recognized on a straight-line basis over the term of the lease. Certain of our leases contain both lease and nonlease components, which are accounted for separately. The Company has operating and finance leases for office facilities, a data center, vehicles, and certain equipment. The remaining terms of the Company’s leases range from less than one year to five years . Certain leases include options to extend the lease term for up to ten years , as well as an option to terminate, both of which have been excluded from the term of the lease since exercise of the options is not reasonably certain. Lease expense and cash flow for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Lease Expense Finance lease expense: Amortization of right-of-use assets $ 141 $ 153 $ 404 $ 649 Interest on lease liabilities 8 7 19 38 Operating lease expense 809 658 2,443 2,019 Total lease expense $ 958 $ 818 $ 2,866 $ 2,706 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 8 $ 7 $ 19 $ 38 Operating cash outflows from operating leases 833 656 2,518 2,059 Financing cash outflows from finance leases 159 29 452 580 Right-of-use assets obtained in exchange for finance lease liabilities, 340 93 354 631 Right-of-use assets obtained in exchange for operating lease 28 1,725 68 2,376 Operating and finance lease assets and liabilities, average lease term, and average discount rate as of September 30, 2024 and December 31, 2023 are as follows: September 30, December 31, Balance Sheet Information Operating leases: Other noncurrent assets $ 7,978 $ 10,003 Accrued liabilities $ 2,926 $ 2,987 Other noncurrent liabilities 4,953 7,000 Total operating lease liabilities $ 7,879 $ 9,987 Finance leases: Property, plant and equipment gross $ 2,658 $ 2,301 Accumulated depreciation ( 1,286 ) ( 882 ) Property, plant and equipment, net $ 1,372 $ 1,419 Current portion of long-term debt $ 573 $ 538 Long-term debt (less current portion) 394 586 Total finance lease liabilities $ 967 $ 1,124 Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 1.9 2.0 Weighted-average remaining lease term - operating leases (years) 2.6 3.3 Weighted-average discount rate - finance leases 4.2 % 2.4 % Weighted-average discount rate - operating leases 4.9 % 5.0 % Future minimum payments under our leases as of September 30, 2024 are as follows: Amount Lease Maturities Finance Leases Operating Leases Three remaining months of 2024 $ 573 $ 939 2025 143 3,120 2026 202 2,974 2027 88 1,337 2028 8 - Total 1,014 8,370 Less: Imputed interest ( 47 ) ( 491 ) Total lease liabilities, net of interest $ 967 $ 7,879

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 14 - STOCK-BASED COMPENSATION The Company’s 2018 Equity Incentive Plan (the “Plan”), as amended, authorizes it to issue up to 9.85 million shares of common stock, along with non-qualified stock options, stock appreciation rights, restricted stock units and performance restricted stock units to officers, key employees, non-employee directors and consultants. At September 30, 2024, there were 0.6 million shares available for future grants under this Plan. It is the Company’s policy to issue shares from authorized but not issued shares upon the exercise of stock options. Under the terms of the Plan, each year eligible participants are granted time value restricted stock units (“RSUs”), vesting ratably over a three-year period, and performance restricted stock units (“PSUs”) with three-year cliff vesting. Upon vesting, each restricted stock award is exchangeable for one share of the Company’s common stock, with accrued dividends. Unrecognized stock-based compensation expense related to nonvested awards of $ 6.6 million is expected to be recognized over a weighted average period of approximately 1.7 years as of September 30, 2024. Stock-based compensation expense is recognized in selling, general and administrative expenses in the condensed consolidated statement of income (loss). Total compensation expense for the three and nine months ended September 30, 2024 and 2023 is as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Stock compensation expense $ 2,011 $ 1,355 $ 6,098 $ 4,359 RSU and PSU activity for the nine months ended September 30, 2024 is summarized in the following table: Equity Incentive Awards Restricted Weighted Performance Weighted Balance at January 1, 2024 1,001,634 $ 4.39 2,192,759 $ 5.24 Granted 621,524 3.26 762,584 3.82 Settled ( 574,185 ) 4.49 ( 605,150 ) 5.80 Balance at September 30, 2024 1,048,973 $ 3.66 2,350,193 $ 4.63 Awards estimated to vest in the future 1,048,973 $ 3.66 2,350,193 $ 4.63

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 15 – COMMITMENTS AND CONTINGENCIES Purchase Commitments When market conditions warrant, the Company may enter into purchase commitments to secure the supply of certain commodities used in the manufacturing process of its products, such as aluminum, electricity, natural gas, and other raw materials. Prices under the Company’s aluminum contracts are based on a market index and regional premiums for processing, transportation, and alloy components, which are adjusted quarterly for purchases in the ensuing quarter. Certain purchase agreements include volume commitments; however, any excess commitments are generally negotiated with suppliers, and those that have occurred in the past have been carried over to future periods. Contingencies The Company is party to various legal and environmental proceedings incidental to its business. Certain claims, suits and complaints arising in the ordinary course of business have been filed or are pending against the Company. Based on facts now known, except as provided below, it believes all such matters are adequately provided for, covered by insurance, are without merit and/or involve such amounts that would not materially adversely affect the consolidated results of operations, cash flows or financial position. In March 2022, the German Federal Cartel Office initiated an investigation related to European light alloy wheel manufacturers, including Superior Industries Europe AG (a wholly owned subsidiary of the Company), on suspicion of conduct restricting competition. The Company is cooperating fully with the German Federal Cartel Office. In the event Superior Industries Europe AG is deemed to have violated the applicable statutes, it could be subject to a fine or civil proceedings. At this point, the Company is unable to predict the duration or the outcome of the investigation. The Company purchases electricity and natural gas requirements for its manufacturing operations in Poland from a single energy distributor. Superior and its energy distributor, as well as the parent company of the energy distributor, have filed various claims against one another. These claims generally request the court to determine whether Superior’s energy contracts with the energy distributor were valid during the period December 2021 through May 2022. In December 2021, the Company’s energy distributor informed the Company that it would no longer supply energy, notwithstanding its contractual obligation to continue supply. Following a request from the Company, the court issued an injunction ordering the energy distributor to continue supplying energy and gas to the Company. In 2022, the Company obtained a final and binding judgment confirming that the original contracts with the energy distributor had not been effectively dissolved, and thus remained binding. In September of 2022, the energy distributor’s parent company filed a suit against the Company asserting that the Company's energy contracts were no longer valid and asserted the Company owed additional amounts for its purchases between December 2021 and May 2022 equal to the excess of market prices over prices set forth in the original energy contracts. In June 2023, the Company obtained a judgment dismissing the claim in its entirety. In August 2023, the energy distributor’s parent company filed an appeal. B ased on developments at an appellate hearing, the Company has concluded that an adverse judgment is now probable. Accordingly, the Company has recognized a provision of $ 1.5 million which represents the low end of the estimated range of the potential loss. The remaining potential loss is immaterial.

Receivables Factoring

Receivables Factoring	9 Months Ended
Receivables Factoring	Sep. 30, 2024
Receivables [Abstract]
Receivables Factoring	NOTE 16 – RECEIVABLES FACTORING The Company sells certain customer trade receivables on a non-recourse basis as a “true sale” under factoring arrangements with designated financial institutions and cash proceeds are included in cash provided by operating activities. The Company’s ongoing involvement under the factoring arrangements is limited to processing of customer payments on the factored receivables. Factoring arrangements incorporate customary representations and warranties, including representations as to validity of amounts due, completeness of performance obligations and absence of commercial disputes. During the three months ended September 30, 2024 and 2023, the Company sold trade receivables totaling $ 222.6 million and $ 147.8 million and incurred factoring fees of $ 1.9 million and $ 0.8 million. During the nine months ended September 30, 2024 and 2023, the Company sold trade receivables totaling $ 520.2 million and $ 571.2 million and incurred factoring fees of $ 4.2 million and $ 2.8 million. As of September 30, 2024 and December 31, 2023, receivables of $ 97.5 million and $ 92.4 million had been factored and had not yet been paid by customers to the respective financial institutions. The collective limit under our factoring arrangements was $ 142.5 million and $ 142.1 million as of September 30, 2024 and December 31, 2023 .

Restructuring

Restructuring	9 Months Ended
Restructuring	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	NOTE 17 – RESTRUCTURING The Company initiates restructuring activities to execute management’s strategy, such as gaining operational efficiencies and achieving net cost reductions. Restructuring charges primarily consist of employee severance costs. During the three and nine months ended September 30, 2024 , the Company recognized net restructuring charges of $ 2.5 million and $ 2.6 million. During 2023, the Company initiated a program to reduce its global workforce to better align the cost structure with lower automotive industry production levels and recognized net restructuring charges of $ 0.1 million and $ 8.0 million during the three and nine months ended September 30, 2023. The changes in the restructuring reserve balance for the three and nine months ended September 30, 2024 and 2023 were as follows: 2024 2023 Balance at beginning of period $ 3,386 $ — Revision to previous estimates ( 933 ) 5,270 Cash payment ( 907 ) — Foreign exchange ( 77 ) — Balance at March 31 1,469 5,270 Provision 1,014 2,537 Cash payment ( 45 ) — Foreign exchange ( 11 ) — Balance at June 30 2,427 7,807 Provision 2,535 149 Cash payment ( 1,681 ) ( 2,594 ) SPG deconsolidation — ( 1,701 ) Foreign exchange 102 ( 159 ) Balance at end of period $ 3,383 $ 3,502 On October 23, 2024, the Board of Directors of the Company approved a restructuring plan designed to align its cost structure with the forecasted light vehicle industry volumes. Pursuant to the plan, the Company will reduce its headcount globally. The Company began implementing headcount reductions on October 28, 2024 and expects these actions to continue through early February 2025. The Company expects to record a charge in the range of $ 8.5 million to $ 10.5 million in the fourth quarter of 2024 in connection with the plan for cash severance costs.

Receivable from SPG Bankruptcy

Receivable from SPG Bankruptcy Estate	9 Months Ended
Receivable from SPG Bankruptcy Estate	Sep. 30, 2024
Noncontrolling Interest [Abstract]
Receivable from SPG Bankruptcy Estate	NOTE 18 – RECEIVABLE FROM SPG BANKRUPTCY ESTATE On August 31, 2023, the Company’s then-owned subsidiary Superior Industries Production Germany GmbH (“SPG”) filed voluntary petitions for preliminary insolvency proceedings (i.e., equivalent to Chapter 11 under the U.S. Bankruptcy Code). Effective August 31, 2023, the Company no longer controls SPG and deconsolidated the subsidiary, therefore, it is no longer included in the Company’s condensed consolidated financial statements. On October 1, 2024, the Company and the insolvency administrator entered into a final settlement agreement to settle certain losses incurred by SPG as a result of continuing production to ensure the Company’s supply to its customers. As of September 30, 2024 and December 31, 2023, the Company’s receivable due from the SPG bankruptcy estate was $ 13.2 million and $ 15.3 million and the associated allowance was $ 9.3 million and $ 14.8 million. The resulting net receivable as of September 30, 2024 and December 31, 2023 was $ 3.9 million and $ 0.5 million, which has been included in other noncurrent assets in the Company’s condensed consolidated balance sheet.

Nature of Operations and Pres_2

Nature of Operations and Presentation of Condensed Consolidated Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The principal business of Superior Industries International, Inc. (referred herein as the “Company” or “Superior”) is the design and manufacture of aluminum wheels for sale to original equipment manufacturers (“OEMs”) in North America and Europe, and to the aftermarket in Europe. The Company’s aluminum wheels are primarily sold to OEMs for factory installation on new light vehicles. Aluminum wheels sold in the European aftermarket are under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the primary markets for the Company’s products, but it has a diversified global customer base consisting of North American, European, and Asian OEMs.
Presentation of Condensed Consolidated Financial Statements	Presentation of Condensed Consolidated Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements include all adjustments, of a normal and recurring nature, which management believes are necessary for fair presentation of the financial statements. This Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the Securities and Exchange Commission on March 7, 2024 (the “2023 Form 10-K”). These unaudited condensed consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions are eliminated in consolidation. Interim financial reporting standards require the use of estimates that are based on assumptions regarding the outcome of future events and circumstances not known at that time. Inevitably, some assumptions will not materialize, unanticipated events or circumstances may occur which vary from those estimates and such variations may significantly affect future results. Additionally, operating results for the three and nine months ended September 30, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024.
Accounting Standards Issued But Not Yet Adopted	Accounting Standards Issued But Not Yet Adopted Accounting Standards Update (ASU) 2023-07, “Segment Reporting.” In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, ” which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, allowing financial statement users to better understand the components of a segment’s profit or loss to assess potential future cash flows for each reportable segment and the entity as a whole. The amendments expand a public entity’s segment disclosures by requiring disclosure of significant segment expenses that are regularly provided to the chief operating decision maker ( “ CODM ” ), clarifying when an entity may report one or more additional measures to assess segment performance, requiring enhanced interim disclosures, providing new disclosure requirements for entities with a single reportable segment, and requiring other new disclosures. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and early adoption is permitted. The Company is currently evaluating the effects of adopting this guidance. Accounting Standards Update (ASU) 2023-09, “Income Taxes (Topic 740).” In December 2023, the FASB issued ASU 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures, ” which is intended to enhance the transparency, decision usefulness and effectiveness of income tax disclosures. The amendments in this ASU require a public entity to disclose a tabular tax rate reconciliation, using both percentages and currency, with specific categories. A public entity is also required to provide a qualitative description of the states and local jurisdictions that make up the majority of the effect of the state and local income tax category and the net amount of income taxes paid, disaggregated by federal, state and foreign taxes and also disaggregated by individual jurisdictions. The amendments are effective prospectively for annual periods beginning after December 15, 2024, and early adoption and retrospective application are permitted. The Company is currently evaluating the effects of adopting this guidance.
Fair Value Measurements	The carrying values for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate their fair values due to the short period of time until maturity.
Derivatives, Methods of Accounting, Hedging Derivatives	The Company is exposed to market risks such as fluctuations in foreign currency exchange rates, interest rates, and aluminum and other commodity prices. Derivatives may be used to offset some of the effects of these market risks on the expected future cash flows and on certain existing assets and liabilities. In certain cases, the Company may or may not designate certain derivative instruments as hedges for accounting purposes. The Company may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. Market Risks Foreign Currency Exchange Rate Risk The Company has manufacturing locations primarily in Mexico and Poland, and sells its products globally. As a result, the Company’ s financial results could be significantly affected by foreign currency exchange rates. To help mitigate gross margin and cash flow fluctuations due to changes in foreign currency exchange rates, certain subsidiaries in Mexico and Poland, whose functional currency is the U.S. dollar or the Euro, hedge a portion of their forecasted foreign currency costs denominated in the Mexican Peso and Polish Zloty. The Company may hedge portions of its forecasted foreign currency exposure up to 48 months. Interest Rate Risk The Company has borrowings under its Senior Secured Credit Facilities that are at variable rates of interest and expose it to interest rate risk. If interest rates increase, debt service obligations on the variable rate indebtedness will increase even though the amount borrowed remains the same. The Company has entered into interest rate swaps exchanging floating for fixed-rate interest payments in order to reduce its interest rate volatility. Commodity Price Risk The principal raw material used in manufacturing aluminum wheels is aluminum alloys. While wheel prices under OEM customer contracts are adjusted for fluctuations in the cost of this material, the prices of its aftermarket wheels are generally fixed months in advance of the spring and winter sales seasons. Accordingly, the Company hedges a portion of its aftermarket aluminum purchases to offset the effect of fluctuating aluminum cost on its margins. In addition, the manufacture of aluminum wheels is energy-intensive, so the Company fixes a portion of its natural gas and electricity purchases with derivatives or contractual arrangements with energy suppliers. Derivative Financial Instruments The Company has derivatives designated as cash flow hedges that hedge the exposure to variability in expected future cash flows. These derivatives are accounted for as either assets or liabilities and adjusted to fair value each period with the resulting gain or loss recognized in other comprehensive income or loss (“OCI” or “OCL”) until the underlying hedged transaction is recognized in earnings. Once the hedged transaction is recognized in earnings for foreign exchange and commodity derivatives, the gain or loss initially recorded in accumulated OCI or OCL is recognized in cost of sales, while gains or losses on interest rate swaps are recognized in interest expense, net. Derivatives that have not been designated as hedges are adjusted to fair value each period and any gain or loss is recognized in other income (expense), net. The Company has also recorded a derivative liability related to an embedded feature within the redeemable preferred stock (refer to Note 10 “Redeemable Shares”) and the term loan facility (refer to Note 8 “Debt”).

Revenue (Tables)

Revenue (Tables)	9 Months Ended
Revenue (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Opening and Closing Balances of Customer Receivables and Current and Long-term Contract Liabilities	The opening and closing balances of customer receivables and current and long-term contract liabilities balances are as follows: September 30, December 31, Change Customer receivables $ 90,681 $ 41,879 $ 48,802 Contract liabilities—current 6,156 2,982 3,174 Contract liabilities—noncurrent 6,915 8,530 ( 1,615 )

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
Derivative Financial Instruments (Tables)	Sep. 30, 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 as of September 30, 2024 and December 31, 2023: September 30, 2024 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 22,228 $ 22,002 $ 404 $ 729 Commodity contracts 281 1 1,714 1,639 Interest rate contracts 1,314 12 — — Derivatives not designated as hedging instruments: Foreign exchange contracts 343 — 18 — Embedded derivative contracts — — — 4,178 Total derivative financial instruments $ 24,166 $ 22,015 $ 2,136 $ 6,546 December 31, 2023 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 33,075 $ 39,902 $ 440 $ 596 Commodity contracts 549 115 2,394 729 Interest rate contracts 3,162 454 — — Derivatives not designated as hedging instruments: Foreign exchange contracts 1,512 — 677 — Total derivative financial instruments $ 38,298 $ 40,471 $ 3,511 $ 1,325
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, 2024 and December 31, 2023: Notional Amount September 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts $ 410,703 $ 432,529 Commodity contracts 14,269 27,013 Interest rate contracts 200,000 200,000 Derivatives not designated as hedging instruments: Foreign exchange contracts 30,957 34,764 Total derivative financial instruments $ 655,929 $ 694,306
Summary of Gain or Loss Recognized in OCI or OCL	The following table summarizes the gain or loss recognized in OCI or 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, 2024 and 2023: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives designated as hedging instruments: Amount of gain or (loss) recognized in OCI on derivatives, net of tax $ ( 11,611 ) $ ( 13,201 ) $ ( 24,893 ) $ 35,263 Amount of pre-tax gain or (loss) reclassified from accumulated OCI into: Cost of sales 6,291 7,767 23,106 15,745 Interest expense, net 1,171 1,371 3,459 3,471 Derivatives not designated as hedging instruments: Amount of pre-tax gain or (loss) recognized in other income (expense), net ( 1,054 ) ( 375 ) ( 2,878 ) 3,618

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Items Measured at Fair Value	The following tables categorize items measured at fair value as of September 30, 2024 and December 31, 2023: Fair Value Hierarchy September 30, December 31, Derivative assets Level 2 $ 46,181 $ 78,769 Derivative liabilities Level 2 $ 4,504 $ 4,836 Derivative liabilities Level 3 $ 4,178 $ —
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, December 31, Estimated fair value $ 532,667 $ 627,008 Carrying value 489,028 615,954

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
Business Segments (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Summary of Net Sales and Results of Operations and Total Assets by Reportable Segment	Net Sales Depreciation and Amortization Income (Loss) from Operations Three Months Ended September 30, September 30, September 30, September 30, September 30, September 30, North America $ 206,233 $ 194,873 $ 9,968 $ 10,207 $ 13,893 $ 14,286 Europe 115,524 128,204 11,732 13,419 ( 9,159 ) ( 85,483 ) $ 321,757 $ 323,077 $ 21,700 $ 23,626 $ 4,734 $ ( 71,197 ) Net Sales Depreciation and Amortization Income (Loss) from Operations Nine Months Ended September 30, September 30, September 30, September 30, September 30, September 30, North America $ 602,944 $ 614,696 $ 30,645 $ 28,632 $ 35,170 $ 57,505 Europe 354,056 461,950 34,889 41,302 ( 19,878 ) ( 89,549 ) $ 957,000 $ 1,076,646 $ 65,534 $ 69,934 $ 15,292 $ ( 32,044 ) Total Assets September 30, December 31, North America $ 426,431 $ 625,612 Europe 375,228 404,959 $ 801,659 $ 1,030,571

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2024
Inventory Disclosure [Abstract]
Summary of Inventories	Inventory by major classification as of September 30, 2024 and December 31, 2023 was as follows: September 30, December 31, Raw materials $ 40,299 $ 44,539 Work in process 37,826 25,289 Finished goods 67,565 74,781 Inventories, net $ 145,690 $ 144,609

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Amortization Expense and Annual Anticipated Future Amortization	Amortization for the three and nine months ended September 30, 2024 and 2023 were as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Amortization expense $ 4,943 $ 4,892 $ 14,669 $ 14,616 Annual Anticipated Future Amortization Amount Three Remaining Months of 2024 $ 5,022 2025 9,869 2026 2,581 2027 1,075 Total anticipated future amortization $ 18,547

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Obligations	A summary of the Company ’s long-term obligations as of September 30, 2024 and December 31, 2023 are as follows: September 30, 2024 December 31, 2023 Principal Carrying Value Principal Carrying Value Senior Secured Credit Facilities: Revolving Credit Facility $ — $ — $ — $ — Term Loan Facility 520,000 488,061 396,000 375,920 Senior Notes: 6.00 % Senior Notes — — 239,601 238,126 Other debt: European CapEx loans — — 784 784 Finance leases 967 967 1,124 1,124 489,028 615,954 Less: Current portion of long-term debt ( 5,773 ) ( 5,322 ) Long-term debt $ 483,255 $ 610,632
Schedule of Debt Maturities	Debt maturities as of September 30, 2024, which are due in the next five years are as follows: Debt Maturities Amount Three remaining months of 2024 $ 1,873 2025 5,343 2026 5,402 2027 5,288 2028 503,061 Total debt liabilities $ 520,967

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, (Dollars in thousands, except per share amounts) Net income (loss) attributable to common shareholders $ ( 24,753 ) $ ( 86,317 ) $ ( 68,626 ) $ ( 90,431 ) Redeemable preferred stock dividends and accretion ( 11,081 ) ( 9,853 ) ( 31,601 ) ( 28,938 ) Noncontrolling redeemable equity dividend ( 5 ) ( 8 ) ( 11 ) ( 29 ) Basic numerator $ ( 35,839 ) $ ( 96,178 ) $ ( 100,238 ) $ ( 119,398 ) Weighted average shares outstanding – Basic 28,886 28,091 28,625 27,812 Dilutive effect of common share equivalents — — — — Weighted average shares outstanding – Diluted 28,886 28,091 28,625 27,812 Basic earnings (loss) per share $ ( 1.24 ) $ ( 3.42 ) $ ( 3.50 ) $ ( 4.29 ) Diluted earnings (loss) per share $ ( 1.24 ) $ ( 3.42 ) $ ( 3.50 ) $ ( 4.29 )

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2024
Leases [Abstract]
Schedule of Lease Expense, Cash Flow, Operating and Finance Lease Assets and Liabilities, Average Lease Term and Average Discount Rate	Lease expense and cash flow for the three and nine months ended September 30, 2024 and 2023 are as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Lease Expense Finance lease expense: Amortization of right-of-use assets $ 141 $ 153 $ 404 $ 649 Interest on lease liabilities 8 7 19 38 Operating lease expense 809 658 2,443 2,019 Total lease expense $ 958 $ 818 $ 2,866 $ 2,706 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 8 $ 7 $ 19 $ 38 Operating cash outflows from operating leases 833 656 2,518 2,059 Financing cash outflows from finance leases 159 29 452 580 Right-of-use assets obtained in exchange for finance lease liabilities, 340 93 354 631 Right-of-use assets obtained in exchange for operating lease 28 1,725 68 2,376 Operating and finance lease assets and liabilities, average lease term, and average discount rate as of September 30, 2024 and December 31, 2023 are as follows: September 30, December 31, Balance Sheet Information Operating leases: Other noncurrent assets $ 7,978 $ 10,003 Accrued liabilities $ 2,926 $ 2,987 Other noncurrent liabilities 4,953 7,000 Total operating lease liabilities $ 7,879 $ 9,987 Finance leases: Property, plant and equipment gross $ 2,658 $ 2,301 Accumulated depreciation ( 1,286 ) ( 882 ) Property, plant and equipment, net $ 1,372 $ 1,419 Current portion of long-term debt $ 573 $ 538 Long-term debt (less current portion) 394 586 Total finance lease liabilities $ 967 $ 1,124 Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 1.9 2.0 Weighted-average remaining lease term - operating leases (years) 2.6 3.3 Weighted-average discount rate - finance leases 4.2 % 2.4 % Weighted-average discount rate - operating leases 4.9 % 5.0 %
Schedule of Future Minimum Rental Payments Under Finance and Operating Leases	Future minimum payments under our leases as of September 30, 2024 are as follows: Amount Lease Maturities Finance Leases Operating Leases Three remaining months of 2024 $ 573 $ 939 2025 143 3,120 2026 202 2,974 2027 88 1,337 2028 8 - Total 1,014 8,370 Less: Imputed interest ( 47 ) ( 491 ) Total lease liabilities, net of interest $ 967 $ 7,879

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
Restructuring (Tables)	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Summary of Changes in Restructuring Reserve Balance	The changes in the restructuring reserve balance for the three and nine months ended September 30, 2024 and 2023 were as follows: 2024 2023 Balance at beginning of period $ 3,386 $ — Revision to previous estimates ( 933 ) 5,270 Cash payment ( 907 ) — Foreign exchange ( 77 ) — Balance at March 31 1,469 5,270 Provision 1,014 2,537 Cash payment ( 45 ) — Foreign exchange ( 11 ) — Balance at June 30 2,427 7,807 Provision 2,535 149 Cash payment ( 1,681 ) ( 2,594 ) SPG deconsolidation — ( 1,701 ) Foreign exchange 102 ( 159 ) Balance at end of period $ 3,383 $ 3,502

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Total compensation Expense	Stock-based compensation expense is recognized in selling, general and administrative expenses in the condensed consolidated statement of income (loss). Total compensation expense for the three and nine months ended September 30, 2024 and 2023 is as follows: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Stock compensation expense $ 2,011 $ 1,355 $ 6,098 $ 4,359
Summary of RSU and PSU Activity	RSU and PSU activity for the nine months ended September 30, 2024 is summarized in the following table: Equity Incentive Awards Restricted Weighted Performance Weighted Balance at January 1, 2024 1,001,634 $ 4.39 2,192,759 $ 5.24 Granted 621,524 3.26 762,584 3.82 Settled ( 574,185 ) 4.49 ( 605,150 ) 5.80 Balance at September 30, 2024 1,048,973 $ 3.66 2,350,193 $ 4.63 Awards estimated to vest in the future 1,048,973 $ 3.66 2,350,193 $ 4.63

Revenue - Summary of Opening an

Revenue - Summary of Opening and Closing Balances of Customer Receivables and Current and Long-term Contract Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Contract With Customer Asset And Liability [Line Items]
Customer receivables	$ 90,681	$ 41,879
Contract liabilities—current	6,156	2,982
Contract liabilities-noncurrent	6,915	$ 8,530
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Contract With Customer Asset And Liability [Line Items]
Customer receivables	48,802
Contract liabilities—current	3,174
Contract liabilities-noncurrent	$ (1,615)

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments objectives	The Company is exposed to market risks such as fluctuations in foreign currency exchange rates, interest rates, and aluminum and other commodity prices. Derivatives may be used to offset some of the effects of these market risks on the expected future cash flows and on certain existing assets and liabilities.
Maximum length of time, foreign currency cash flow hedge	48 months

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Value of Derivatives by Financial Statement Line Item (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ 24,166	$ 38,298
Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	22,015	40,471
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	2,136	3,511
Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	6,546	1,325
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member] \| Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	22,228	33,075
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member] \| Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	22,002	39,902
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	404	440
Foreign Exchange Contract [Member] \| Designated as Hedging Instrument [Member] \| Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	729	596
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	343	1,512
Foreign Exchange Contract [Member] \| Not Designated as Hedging Instrument [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	18	677
Commodity Contract [Member] \| Designated as Hedging Instrument [Member] \| Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	281	549
Commodity Contract [Member] \| Designated as Hedging Instrument [Member] \| Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	1	115
Commodity Contract [Member] \| Designated as Hedging Instrument [Member] \| Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	1,714	2,394
Commodity Contract [Member] \| Designated as Hedging Instrument [Member] \| Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	1,639	729
Interest Rate Contract [Member] \| Designated as Hedging Instrument [Member] \| Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	1,314	3,162
Interest Rate Contract [Member] \| Designated as Hedging Instrument [Member] \| Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	12	$ 454
Embedded Derivative Contracts [Member] \| Not Designated as Hedging Instrument [Member] \| Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	$ 4,178

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Notional Amount of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional Amount	$ 655,929	$ 694,306
Designated as Hedging Instrument [Member] \| Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	410,703	432,529
Designated as Hedging Instrument [Member] \| Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	14,269	27,013
Designated as Hedging Instrument [Member] \| Interest Rate Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	200,000	200,000
Not Designated as Hedging Instrument [Member] \| Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	$ 30,957	$ 34,764

Derivative Financial Instrume_6

Derivative Financial Instruments - Summary of Gain or Loss Recognized in OCI or OCL (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) recognized in OCI on derivatives, net of tax	$ (11,611)	$ (13,201)	$ (24,893)	$ 35,263
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Cost of sales	293,123	297,788	875,600	975,746
Interest expense, net	(17,857)	(15,678)	(49,558)	(47,066)
Amount of pre-tax gain or (loss) recognized in other income (expense), net	2,297	179	2,635	(2,608)
Designated as Hedging Instrument [Member] \| Derivative [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) recognized in OCI on derivatives, net of tax	(11,611)	(13,201)	(24,893)	35,263
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Cost of sales	6,291	7,767	23,106	15,745
Interest expense, net	1,171	1,371	3,459	3,471
Not Designated as Hedging Instrument [Member] \| Derivative [Member]
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Amount of pre-tax gain or (loss) recognized in other income (expense), net	$ (1,054)	$ (375)	$ (2,878)	$ 3,618

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Detail) - Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Level 2 [Member]
Assets
Derivative assets	$ 46,181	$ 78,769
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets, Current	Assets, Current
Liabilities
Derivative liabilities	$ 4,504	$ 4,836
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current
Level 3 [Member]
Liabilities
Derivative liabilities	$ 4,178
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Instrument Detail [Abstract]
Estimated fair value	$ 532,667	$ 627,008
Aggregate carrying value	$ 489,028	$ 615,954

Business Segments - Summary of

Business Segments - Summary of Net Sales and Results of Operations and Total Assets by Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 321,757	$ 323,077	$ 957,000	$ 1,076,646
Depreciation and amortization	21,700	23,626	65,534	69,934
Income (Loss) from Operations	4,734	(71,197)	15,292	(32,044)
Total assets	801,659		801,659		$ 1,030,571
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	206,233	194,873	602,944	614,696
Depreciation and amortization	9,968	10,207	30,645	28,632
Income (Loss) from Operations	13,893	14,286	35,170	57,505
Total assets	426,431		426,431		625,612
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	115,524	128,204	354,056	461,950
Depreciation and amortization	11,732	13,419	34,889	41,302
Income (Loss) from Operations	(9,159)	$ (85,483)	(19,878)	$ (89,549)
Total assets	$ 375,228		$ 375,228		$ 404,959

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 40,299	$ 44,539
Work in process	37,826	25,289
Finished goods	67,565	74,781
Inventories, net	$ 145,690	$ 144,609

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory, non-current	$ 8.4	$ 11.7

Intangible Assets - Summary of

Intangible Assets - Summary of Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,943	$ 4,892	$ 14,669	$ 14,616

Intangible Assets - Summary o_2

Intangible Assets - Summary of Annual Anticipated Future Amortization (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Three Remaining Months of 2024	$ 5,022
2025	9,869
2026	2,581
2027	1,075
Total anticipated future amortization	$ 18,547

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 355,676	$ 398,599

Debt - Summary of Long-Term Obl

Debt - Summary of Long-Term Obligations (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal	$ 520,967
Carrying Value	489,028	$ 615,954
Less: Current portion	(5,773)	(5,322)
Long-term debt	483,255	610,632
Term Loan Facility [Member]
Debt Instrument [Line Items]
Principal	520,000	396,000
Carrying Value	488,061	375,920
Senior Notes [Member] \| 6.00% Senior Notes [Member]
Debt Instrument [Line Items]
Principal		239,601
Carrying Value		238,126
European CapEx Loans [Member]
Debt Instrument [Line Items]
Principal		784
Carrying Value		784
Finance Leases [Member]
Debt Instrument [Line Items]
Principal	967	1,124
Carrying Value	$ 967	$ 1,124

Debt - Summary of Long-Term O_2

Debt - Summary of Long-Term Obligations (Parenthetical) (Detail)	Sep. 30, 2024	Dec. 31, 2023
6.00% Senior Notes [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate stated, percentage	6%	6%

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Detail) $ in Thousands	Sep. 30, 2024 USD ($)
Maturities of Long-Term Debt [Abstract]
Three remaining months of 2024	$ 1,873
2025	5,343
2026	5,402
2027	5,288
2028	503,061
Total debt liabilities	$ 520,967

Debt - Additional Information (

Debt - Additional Information (Detail)			3 Months Ended	9 Months Ended
Debt - Additional Information (Detail)	Aug. 14, 2024 USD ($)	Jun. 15, 2017 EUR (€)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 15, 2022 USD ($)	May 30, 2017 USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ (13,052,000)	$ (13,052,000)
Obligations under other debt agreements cross-default minimum amount				20,000,000
Failure to pay material plan withdrawal obligations				20,000,000
Debt Instrument, Face Amount			520,967,000	520,967,000
Long-term debt			489,028,000	489,028,000	$ 615,954,000
Term loan facility balance			489,028,000	489,028,000	615,954,000
Senior Notes [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt			900,000	$ 900,000
European Operations [Member]
Debt Instrument [Line Items]
Long-term debt					$ 800,000		$ 70,700,000
Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio				1%
Maximum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio				1.10%
Senior Notes, 6.00%, due 2025 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount \| €		€ 250,000,000
Debt instrument, interest rate stated, percentage	6%	6%
2022 Term Loan Facility [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Amount of term loan facility						$ 400,000,000
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Line of credit facility maturity date	Dec. 15, 2028
Loss on extinguishment of debt			(12,200,000)	$ (12,200,000)
Prepayment premium in first year	2%
Prepayment premium during second year	2%
Prepayment premium during third year	1%
Senior Secured Term Loan Facility [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Amount of term loan facility	$ 520,000,000
Additional default interest rate				2%
Amount outstanding			7,500,000	$ 7,500,000
Amended and Restated Term Loan Credit Agreement [Member]
Debt Instrument [Line Items]
Derivative liability			$ 2,100,000	$ 2,100,000
Effective interest rate on term loan			12.60%	12.60%
Liquidity amount			$ 37,500,000	$ 37,500,000
Increase in commitment adjustments				$ 50,000,000
Amended and Restated Term Loan Credit Agreement [Member] \| NYFRB [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Amended and Restated Term Loan Credit Agreement [Member] \| SOFR [Member] \| Minimum [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%			7.50%
Amended and Restated Term Loan Credit Agreement [Member] \| One Month SOFR [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Amended and Restated Term Loan Credit Agreement [Member] \| Base Rate [Member] \| Minimum [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.50%			6.50%
December 31, 2024 through March 31, 2025 [Member] \| Amended and Restated Term Loan Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				1%
December 31, 2024 through March 31, 2025 [Member] \| Amended and Restated Term Loan Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				3.75%
June 30, 2025 and Thereafter [Member] \| Amended and Restated Term Loan Credit Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				1%
June 30, 2025 and Thereafter [Member] \| Amended and Restated Term Loan Credit Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				3.50%
Debt Instrument Redemption Period Two [Member] \| Senior Notes, 6.00%, due 2025 [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Redemption percentage		100%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument prepayment minimum cash on hand	$ 50,000,000
Liquidity prepayment	$ 80,000,000
Additional default interest rate				2%
Commitment fees percentage			0.625%
Liquidity amount			$ 37,500,000	$ 37,500,000
Increase in commitment adjustments				$ 50,000,000
Revolving Credit Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Commitment fees percentage				0.50%
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Commitment fees percentage				0.625%
Revolving Credit Facility [Member] \| NYFRB [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.50%
Revolving Credit Facility [Member] \| SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			4.50%	0.10%
Revolving Credit Facility [Member] \| SOFR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.50%
Revolving Credit Facility [Member] \| SOFR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				4.50%
Revolving Credit Facility [Member] \| One Month SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1%
Revolving Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.50%
Revolving Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				2.50%
Revolving Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.50%
Revolving Credit Facility [Member] \| EURIBOR [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				3.50%
Revolving Credit Facility [Member] \| EURIBOR [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				4.50%
Revolving Credit Facility [Member] \| 2022 Term Loan Facility [Member]
Debt Instrument [Line Items]
Amount of term loan facility						$ 60,000,000
Revolving Credit Facility [Member] \| Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Line of credit facility maturity date	Dec. 15, 2027
Outstanding borrowings			$ 0	$ 0
Revolving Credit Facility [Member] \| Senior Secured Term Loan Facility [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Amount of availability			$ 52,500,000	$ 52,500,000
Revolving Credit Facility [Member] \| Senior Secured Term Loan Facility [Member] \| Base Rate [Member] \| Minimum [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				1%
Revolving Credit Facility [Member] \| Senior Secured Term Loan Facility [Member] \| EURIBOR [Member] \| Minimum [Member] \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0%
Revolving Credit Facility [Member] \| Amended and Restated Term Loan Credit Agreement [Member]
Debt Instrument [Line Items]
Percentage of excess cash flow	75%
Revolving Credit Facility [Member] \| December 31, 2024 through March 31, 2025 [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				1%
Revolving Credit Facility [Member] \| December 31, 2024 through March 31, 2025 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				3.75%
Revolving Credit Facility [Member] \| June 30, 2025 and Thereafter [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				1%
Revolving Credit Facility [Member] \| June 30, 2025 and Thereafter [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio				3.50%
Revolving Credit Facility [Member] \| September 30, 2024 [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Net leverage ratio				1%
Secured net leverage ratio				1%
Revolving Credit Facility [Member] \| September 30, 2024 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Net leverage ratio				4.75%
Secured net leverage ratio				4.75%
Revolving Credit Facility [Member] \| Thereafter [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Net leverage ratio				1%
Revolving Credit Facility [Member] \| Thereafter [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Net leverage ratio				4.50%

Supplier Finance Program - Addi

Supplier Finance Program - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Supplier Finance Program [Abstract]
Extended payment terms of purchases of suppliers	The Company receives extended payment terms for a portion of its purchases (90 days rather than 60 days) with one of its principal aluminum suppliers in exchange for a nominal adjustment to the product pricing.
Supplier finance program	$ 19.3	$ 18

Redeemable Shares - Additional

Redeemable Shares - Additional Information (Detail) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Temporary Equity [Line Items]
Redeemable preferred stock	$ 276,467,000		$ 276,467,000		$ 248,222,000
Preferred stock percentage	9%	9%	9%	9%
Increase in stated value of preferred stock	$ 3,400,000		$ 6,800,000
Carrying value of preferred stock	276,500,000		$ 276,500,000		248,200,000
Preferred stock redemption date			Sep. 14, 2025
Convertible preferred stock, face value	$ 156,800,000		$ 156,800,000		$ 150,000,000
Common stock, shares issued upon conversion of preferred stock	5,566	5,566	5,566	5,566
Minimum [Member]
Temporary Equity [Line Items]
Date of dividend payment in kind	Jul. 01, 2024
Maximum [Member]
Temporary Equity [Line Items]
Preferred stock redemption date	Sep. 14, 2025
Convertible Preferred Stock Redemption Period Two [Member]
Temporary Equity [Line Items]
Convertible preferred stock redemption value description			two times the stated value ($156.8 million) plus any accrued unpaid dividends, currently $313.5 million as of September 30, 2024
Convertible preferred stock, face value	$ 156,800,000		$ 156,800,000
Convertible preferred stock, redemption value	$ 313,500,000		$ 313,500,000
Common stock, shares issued upon conversion of preferred stock	5,600		5,600

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Common stock, shares issued upon conversion of preferred stock	5,566	5,566

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Basic Earnings (Loss) Per Share:
Net income (loss)	$ (24,753)	$ (86,317)	$ (68,626)	$ (90,431)
Redeemable preferred stock dividends and accretion	(11,081)	(9,853)	(31,601)	(28,938)
Noncontrolling redeemable equity dividend	(5)	(8)	(11)	(29)
Basic numerator	$ (35,839)	$ (96,178)	$ (100,238)	$ (119,398)
Basic earnings (loss) per share	$ (1.24)	$ (3.42)	$ (3.5)	$ (4.29)
Weighted average shares outstanding – Basic	28,886	28,091	28,625	27,812
Diluted Earnings (Loss) Per Share:
Net income (loss)	$ (24,753)	$ (86,317)	$ (68,626)	$ (90,431)
Redeemable preferred stock dividends and accretion	(11,081)	(9,853)	(31,601)	(28,938)
Less: Noncontrolling redeemable equity dividend	$ (5)	$ (8)	$ (11)	$ (29)
Diluted earnings (loss) per share	$ (1.24)	$ (3.42)	$ (3.5)	$ (4.29)
Weighted average shares outstanding – Basic	28,886	28,091	28,625	27,812
Weighted average shares outstanding – Diluted	28,886	28,091	28,625	27,812

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jan. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision (benefit)		$ 875	$ (379)	$ 23,943	$ 8,713
Pre-tax losses		$ (23,878)	$ (86,696)	$ (44,683)	$ (81,718)
Effective income tax rates		(3.70%)	0.40%	(53.60%)	(10.70%)
Deferred tax charge related to tax restructuring		$ 17,800		$ 17,800
New global minimum tax rate	15%

Leases - Additional Information

Leases - Additional Information (Detail)	9 Months Ended
Leases - Additional Information (Detail)	Sep. 30, 2024
Operating Leased Assets [Line Items]
Lessee, operating lease, option to extend	Certain leases include options to extend the lease term for up to ten years
Minimum [Member]
Operating Leased Assets [Line Items]
Lessee, operating lease, term of contract	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, operating lease, term of contract	5 years

Leases - Schedule of Lease Expe

Leases - Schedule of Lease Expense, Cash Flow, Operating and Finance Lease Assets and Liabilities, Average Lease Term and Average Discount Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finance lease expense:
Amortization of right-of-use assets	$ 141	$ 153	$ 404	$ 649
Interest on lease liabilities	8	7	19	38
Operating lease expense	809	658	2,443	2,019
Total lease expense	958	818	2,866	2,706
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from finance leases	8	7	19	38
Operating cash outflows from operating leases	833	656	2,518	2,059
Financing cash outflows from finance leases	159	29	452	580
Right-of-use assets obtained in exchange for finance lease liabilities, net of terminations and disposals	340	93	354	631
Right-of-use assets obtained in exchange for operating lease liabilities, net of terminations and disposals	28	$ 1,725	68	$ 2,376
Operating leases:
Other noncurrent assets	$ 7,978		$ 7,978		$ 10,003
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets		Other non-current assets		Other non-current assets
Accrued liabilities	$ 2,926		$ 2,926		$ 2,987
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Other noncurrent liabilities	$ 4,953		$ 4,953		$ 7,000
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities		Other non-current liabilities		Other non-current liabilities
Total operating lease liabilities	$ 7,879		$ 7,879		$ 9,987
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent		us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent		us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Property, plant and equipment gross	$ 2,658		$ 2,658		$ 2,301
Accumulated depreciation	(1,286)		(1,286)		(882)
Property, plant and equipment, net	$ 1,372		$ 1,372		$ 1,419
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets		Other non-current assets		Other non-current assets
Current portion of long-term debt	$ 573		$ 573		$ 538
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Long-term debt (less current portion)	$ 394		$ 394		$ 586
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other non-current liabilities		Other non-current liabilities		Other non-current liabilities
Total finance lease liabilities	$ 967		$ 967		$ 1,124
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent		us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent		us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Weighted-average remaining lease term - finance leases (years)	1 year 10 months 24 days		1 year 10 months 24 days		2 years
Weighted-average remaining lease term - operating leases (years)	2 years 7 months 6 days		2 years 7 months 6 days		3 years 3 months 18 days
Weighted-average discount rate - finance leases	4.20%		4.20%		2.40%
Weighted-average discount rate - operating leases	4.90%		4.90%		5%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments For Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance Leases, Three remaining months of 2024	$ 573
Finance Leases, 2025	143
Finance Leases, 2026	202
Finance Leases, 2027	88
Finance Leases, 2028	8
Finance Leases, Total	1,014
Finance Leases, Less: Imputed interest	(47)
Finance Leases, Total lease liabilities, net of interest	967	$ 1,124
Operating Leases, Three remaining months of 2024	939
Operating Leases, 2025	3,120
Operating Leases, 2026	2,974
Operating Leases, 2027	1,337
Operating Leases, Total	8,370
Operating Leases, Less: Imputed interest	(491)
Operating Leases, Total lease liabilities, net of interest	$ 7,879	$ 9,987

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorizes issuance of common stock					9,850,000
Number of shares available for grant	600,000		600,000
Stock-based compensation expense	$ 2,011	$ 1,355	$ 6,098	$ 4,359
Amount of unrecognized stock-based compensation expense	$ 6,600		$ 6,600
Weighted average period for recognition			1 year 8 months 12 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Performance Shares Unit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Total compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 2,011	$ 1,355	$ 6,098	$ 4,359

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU and PSU Activity (Detail)	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Restricted Stock Units [Member]
Number of Awards
Number of Awards, Beginning balance (in shares) \| shares	1,001,634
Granted (in shares) \| shares	621,524
Settled (in shares) \| shares	(574,185)
Number of Awards, Ending balance (in shares) \| shares	1,048,973
Number of awards, Awards estimated to vest in the future (in shares) \| shares	1,048,973
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (in dollars per share) \| $ / shares	$ 4.39
Granted (in dollars per share) \| $ / shares	3.26
Settled (in dollars per share) \| $ / shares	4.49
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share) \| $ / shares	3.66
Weighted Average Grant Date Fair Value, Awards estimated to vest in the future (in dollar per share) \| $ / shares	$ 3.66
Performance Shares Unit [Member]
Number of Awards
Number of Awards, Beginning balance (in shares) \| shares	2,192,759
Granted (in shares) \| shares	762,584
Settled (in shares) \| shares	(605,150)
Number of Awards, Ending balance (in shares) \| shares	2,350,193
Number of awards, Awards estimated to vest in the future (in shares) \| shares	2,350,193
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Beginning balance (in dollars per share) \| $ / shares	$ 5.24
Granted (in dollars per share) \| $ / shares	3.82
Settled (in dollars per share) \| $ / shares	5.8
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share) \| $ / shares	4.63
Weighted Average Grant Date Fair Value, Awards estimated to vest in the future (in dollar per share) \| $ / shares	$ 4.63

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Sep. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Estimate of potential loss	$ 1.5

Receivables Factoring - Additio

Receivables Factoring - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts Receivable [Line Items]
Trade receivables	$ 222,600,000	$ 147,800,000	$ 520,200,000	$ 571,200,000
Collective limit under factoring arrangements	142,500,000		142,500,000		$ 142,100,000
Factored receivables yet not collected	97,500,000		97,500,000		$ 92,400,000
Other (Expense) Income, Net [Member]
Accounts Receivable [Line Items]
Factoring fees	$ 1,900,000	$ 800,000	$ 4,200,000	$ 2,800,000

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($)	3 Months Ended			9 Months Ended
Restructuring - Additional Information (Detail) - USD ($)	Dec. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charge		$ 2,500,000	$ 100,000	$ 2,600,000	$ 8,000,000
Forecast [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 8,500,000
Forecast [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 10,500,000

Restructuring - Summary of Chan

Restructuring - Summary of Changes in Restructuring Reserve Balance (Detail) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Beginning Balance	$ 2,427	$ 1,469	$ 3,386	$ 7,807	$ 5,270
Revision to previous estimates			(933)			$ 5,270
Provision	2,535	1,014		149	2,537
Cash payment	(1,681)	(45)	(907)	(2,594)
SPG deconsolidation				(1,701)
Foreign exchange	102	(11)	(77)	(159)
Ending Balance	$ 3,383	$ 2,427	$ 1,469	$ 3,502	$ 7,807	$ 5,270

Receivable from SPG Bankruptc_2

Receivable from SPG Bankruptcy Estate - Additional Information (Details) - SPG Bankruptcy Estate [Member] - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Receivables from subsidiary	$ 13.2	$ 15.3
Allowance for receivables	9.3	14.8
Other Non-current Assets [Member]
Noncontrolling Interest [Line Items]
Receivables from subsidiary	$ 3.9	$ 0.5