Superior Industries International (SUP) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 02, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
NET SALES	$ 318,967	$ 372,603	$ 635,243	$ 753,569
Cost of sales	287,347	331,570	582,477	677,958
GROSS PROFIT	31,620	41,033	52,766	75,611
Selling, general and administrative expenses	21,376	17,016	42,208	36,458
INCOME (LOSS) FROM OPERATIONS	10,244	24,017	10,558	39,153
Interest expense, net	(15,823)	(15,690)	(31,701)	(31,388)
Other income (expense), net	875	(2,600)	338	(2,787)
INCOME (LOSS) BEFORE INCOME TAXES	(4,704)	5,727	(20,805)	4,978
Income tax (provision) benefit	(6,420)	(5,794)	(23,068)	(9,092)
NET INCOME (LOSS)	$ (11,124)	$ (67)	$ (43,873)	$ (4,114)
EARNINGS (LOSS) PER SHARE - BASIC	$ (0.75)	$ (0.35)	$ (2.26)	$ (0.84)
EARNINGS (LOSS) PER SHARE - DILUTED	$ (0.75)	$ (0.35)	$ (2.26)	$ (0.84)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (11,124)	$ (67)	$ (43,873)	$ (4,114)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	(18,247)	8,542	(15,748)	23,173
Change in unrecognized gains (losses) on derivative instruments
Change in fair value of derivatives	(20,723)	33,595	(17,257)	53,048
Tax (provision) benefit	4,747	(3,251)	3,975	(4,584)
Change in unrecognized gains (losses) on derivative instruments, net of tax	(15,976)	30,344	(13,282)	48,464
Defined benefit pension plan:
Amortization of actuarial losses on pension obligation	3		3
Tax (provision) benefit			178
Pension changes, net of tax	3		181
Other comprehensive income (loss), net of tax	(34,220)	38,886	(28,849)	71,637
Comprehensive income (loss)	$ (45,344)	$ 38,819	$ (72,722)	$ 67,523

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 172,262	$ 201,606
Accounts receivable, net	79,016	56,393
Inventories, net	147,362	144,609
Income taxes receivable	4,133	1,559
Current derivative financial instruments	30,261	38,298
Other current assets	22,533	17,464
Total current assets	455,567	459,929
Property, plant and equipment, net	366,451	398,599
Deferred income tax assets, net	35,608	52,213
Intangibles, net	22,620	33,242
Derivative financial instruments	28,275	40,471
Other noncurrent assets	45,281	46,117
Total assets	953,802	1,030,571
Current liabilities:
Accounts payable	138,025	124,907
Short-term debt	236,032	5,322
Accrued expenses	67,232	66,838
Income taxes payable	551	1,844
Total current liabilities	441,840	198,911
Long-term debt (less current portion)	371,693	610,632
Noncurrent income tax liabilities	5,845	8,129
Deferred income tax liabilities, net	1,194	1,903
Other noncurrent liabilities	43,740	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 June 30, 2024 and December 31, 2023	265,386	248,222
Noncontrolling redeemable equity	550	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 June 30, 2024 and December 31, 2023	118,082	115,340
Accumulated other comprehensive income (loss)	(51,140)	(22,291)
Retained earnings (deficit)	(243,388)	(178,989)
Total shareholders' equity (deficit)	(176,446)	(85,940)
Total liabilities, mezzanine equity and shareholders' equity (deficit)	$ 953,802	$ 1,030,571

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 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	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (43,873)	$ (4,114)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization	43,834	46,308
Income tax, noncash changes	18,659	11,316
Stock-based compensation	4,086	3,004
Amortization of debt issuance costs	2,370	2,383
Other noncash items	(2,902)	44
Accounts receivable	(28,544)	(24,847)
Inventories	(6,358)	1,392
Other assets and liabilities	(1,933)	796
Accounts payable	16,249	(12,832)
Income taxes	(6,132)	(12,283)
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	(4,544)	11,167
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant, and equipment	(14,844)	(21,751)
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES	(14,844)	(21,751)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(2,774)	(12,414)
Cash dividends paid	(3,383)	(6,696)
Financing costs paid and other	(299)	(31)
Payments related to tax withholdings for stock-based compensation	(1,345)	(3,307)
Finance lease payments	(293)	(551)
NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES	(8,094)	(22,999)
Effect of exchange rate changes on cash	(1,862)	1,676
Net changes in cash and cash equivalents	(29,344)	(31,907)
Cash and cash equivalents at the beginning of the period	201,606	213,022
Cash and cash equivalents at the end of the period	172,262	181,115
Supplemental Cash Flow Information
Cash paid during the period for interest	31,625	30,653
Cash paid during the period for income taxes, net of refunds	10,435	10,038
Non-cash Investing Activities
Period end balance of accounts payable for property, plant, and equipment	$ 2,982	$ 1,655

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)	(4,114)					(4,114)
Change in accumulated other comprehensive income (loss), net of tax	71,637		23,173	48,464
Common stock issued, net of shares withheld for employee taxes (in shares)		1,075,315
Stock-based compensation	(303)	$ (303)
Redeemable preferred 9% dividend and accretion	(19,085)					(19,085)
Noncontrolling redeemable equity dividend	(21)					(21)
End of period at Jun. 30, 2023	22,817	$ 110,802	(87,531)	68,308	1,591	(70,353)
End of the period (in shares) at Jun. 30, 2023		28,091,440
Beginning of period at Mar. 31, 2023	(8,545)	$ 108,603	(96,073)	37,964	1,591	(60,630)
Beginning of the period (in shares) at Mar. 31, 2023		27,908,669
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(67)					(67)
Change in accumulated other comprehensive income (loss), net of tax	38,886		8,542	30,344
Common stock issued, net of shares withheld for employee taxes (in shares)		182,771
Stock-based compensation	2,199	$ 2,199
Redeemable preferred 9% dividend and accretion	(9,645)					(9,645)
Noncontrolling redeemable equity dividend	(11)					(11)
End of period at Jun. 30, 2023	22,817	$ 110,802	(87,531)	68,308	1,591	(70,353)
End of the period (in shares) at Jun. 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)	$ (43,873)					(43,873)
Change in accumulated other comprehensive income (loss), net of tax	(28,849)		(15,748)	(13,282)	181
Common stock issued, net of shares withheld for employee taxes (in shares)		794,613
Stock-based compensation	2,742	$ 2,742
Redeemable preferred 9% dividend and accretion	(20,519)					(20,519)
Noncontrolling redeemable equity dividend	(7)					(7)
End of period at Jun. 30, 2024	$ (176,446)	$ 118,082	(98,750)	46,577	1,033	(243,388)
End of the period (in shares) at Jun. 30, 2024	28,886,053	28,886,053
Beginning of period at Mar. 31, 2024	$ (122,907)	$ 115,924	(80,503)	62,553	1,030	(221,911)
Beginning of the period (in shares) at Mar. 31, 2024		28,600,152
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,124)					(11,124)
Change in accumulated other comprehensive income (loss), net of tax	(34,220)		(18,247)	(15,976)	3
Common stock issued, net of shares withheld for employee taxes (in shares)		285,901
Stock-based compensation	2,158	$ 2,158
Redeemable preferred 9% dividend and accretion	(10,353)					(10,353)
End of period at Jun. 30, 2024	$ (176,446)	$ 118,082	$ (98,750)	$ 46,577	$ 1,033	$ (243,388)
End of the period (in shares) at Jun. 30, 2024	28,886,053	28,886,053

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Shareholders' Equity (Deficit) (Parenthetical)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Preferred stock, dividend rate, percentage	9%	9%	9%	9%

Nature of Operations and Presen

Nature of Operations and Presentation of Condensed Consolidated Financial Statements	6 Months Ended
	Jun. 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,” “Superior,” or “we” and “our”) 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. Our aluminum wheels are primarily sold to OEMs for factory installation on new light vehicles. We also sell aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the primary markets for our products, but we have 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 our consolidated financial statements and notes thereto filed with the SEC in our 2023 Annual Report on 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 us to make 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 our future results. Additionally, interim results may not be indicative of our results for future interim periods or our annual results. 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	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 2 – REVENUE The Company disaggregates revenue from contracts with customers into our reportable segments, North America and Europe. Revenues by segment for the three and six months ended June 30, 2024 and June 30, 2023 are summarized in Note 5, “Business Segments.” The opening and closing balances of the Company’s customer receivables and current and long-term contract liabilities balances are as follows: June 30, December 31, Change Customer receivables $ 65,267 $ 41,879 $ 23,388 Contract liabilities—current 5,632 2,982 2,650 Contract liabilities—noncurrent 6,648 8,530 ( 1,882 )

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 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 our 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 following tables display the fair value of derivatives by financial statement line item as of June 30, 2024 and December 31, 2023: June 30, 2024 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 26,422 $ 27,418 $ 382 $ 10 Commodity contracts 533 46 2,037 1,085 Interest rate contracts 3,306 811 — — Derivatives not designated as hedging instruments: Foreign exchange contracts — — 1,966 — Total derivative financial instruments $ 30,261 $ 28,275 $ 4,385 $ 1,095 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 June 30, 2024 and December 31, 2023: Notional Amount June 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts $ 377,035 $ 432,529 Commodity contracts 16,601 27,013 Interest rate contracts 200,000 200,000 Derivatives not designated as hedging instruments: Foreign exchange contracts 49,079 34,764 Total derivative financial instruments $ 642,715 $ 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 six months ended June 30, 2024 and June 30, 2023: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Derivatives designated as hedging instruments: Amount of gain or (loss) recognized in OCI on derivatives, net of tax $ ( 15,976 ) $ 30,344 $ ( 13,282 ) $ 48,464 Amount of pre-tax gain or (loss) reclassified from accumulated OCI into: Cost of sales 8,785 4,946 16,815 7,978 Interest expense, net 1,140 1,204 2,287 2,100 Derivatives not designated as hedging instruments: Amount of pre-tax gain or (loss) recognized in other income (expense), net ( 2,049 ) 1,398 ( 1,824 ) 3,993

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 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 Our derivatives are over-the-counter customized derivative instruments and are not exchange traded. We estimate the fair value of these instruments using the income valuation approach. Under this approach, we project future cash flows and discount 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 following tables categorize items measured at fair value as of June 30, 2024 and December 31, 2023: Fair Value Hierarchy June 30, December 31, Derivative assets Level 2 $ 58,536 $ 78,769 Derivative liabilities Level 2 $ 5,480 $ 4,836 Financial Instruments Not Carried at Fair Value Debt Instruments The carrying values of the Company’s debt instruments vary from their fair values. The fair values were 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: June 30, December 31, Estimated fair value $ 625,799 $ 627,008 Carrying value 607,725 615,954

Business Segments

Business Segments	6 Months Ended
	Jun. 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 six months ended June 30, 2024 and June 30, 2023 were as follows: Net Sales Depreciation and Amortization Income (Loss) from Operations Three Months Ended June 30, June 30, June 30, June 30, June 30, June 30, North America $ 203,203 $ 208,205 $ 10,334 $ 9,378 $ 13,195 $ 21,504 Europe 115,764 164,398 11,554 14,089 ( 2,951 ) 2,513 $ 318,967 $ 372,603 $ 21,888 $ 23,467 $ 10,244 $ 24,017 Net Sales Depreciation and Amortization Income (Loss) from Operations Six Months Ended June 30, June 30, June 30, June 30, June 30, June 30, North America $ 396,711 $ 419,823 $ 20,677 $ 18,425 $ 21,277 $ 43,219 Europe 238,532 333,746 23,157 27,883 ( 10,719 ) ( 4,066 ) $ 635,243 $ 753,569 $ 43,834 $ 46,308 $ 10,558 $ 39,153 Total Assets June 30, December 31, North America $ 583,438 $ 625,612 Europe 370,364 404,959 $ 953,802 $ 1,030,571

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	NOTE 6 - INVENTORIES June 30, December 31, Raw materials $ 42,460 $ 44,539 Work in process 42,160 25,289 Finished goods 62,742 74,781 Inventories, net $ 147,362 $ 144,609 Service wheel and supplies inventory included in other noncurrent assets in the condensed consolidated balance sheets totaled $ 11.3 million and $ 11.7 million at June 30, 2024 and December 31, 2023.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 7 – INTANGIBLE ASSETS Amortization for the three and six months ended June 30, 2024 and June 30, 2023 were as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Amortization expense $ 4,842 $ 4,900 $ 9,726 $ 9,724 Annual Anticipated Future Amortization Amount Six Remaining Months of 2024 $ 9,639 2025 9,472 2026 2,477 2027 1,032 Total anticipated future amortization $ 22,620

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	NOTE 8 – DEBT A summary of the Company ’s long-term obligations is as follows: June 30, 2024 December 31, 2023 Principal Carrying Value Principal Carrying Value Senior Secured Credit Facilities: Revolving Credit Facility $ — $ — $ — $ — Term Loan Facility 394,000 375,400 396,000 375,920 Senior Notes: 6.00 % Senior Notes 232,526 231,543 239,601 238,126 Other debt: European CapEx loans — — 784 784 Finance leases 782 782 1,124 1,124 607,725 615,954 Less: Current portion of long-term debt ( 236,032 ) ( 5,322 ) Long-term debt $ 371,693 $ 610,632 As of June 30, 2024, the Notes (as defined below) due June 15, 2025 have been included in short-term debt in the condensed consolidated balance sheet. If the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes beyond the maturity date of its term loan facility by March 17, 2025, its term loan facility and revolving credit facility would become due on March 17, 2025. Based on the Company’s current estimates and forecasts, it believes the expected cash flows generated from its operations, along with existing liquidity, including undrawn capacity under its revolving credit facility, will be sufficient to satisfy its obligations as they become due over the next twelve months beyond the issuance date of these condensed consolidated financial statements, including repayment of the Notes prior to March 17, 2025. The Company initiated discussions with various lenders to refinance its existing debt, including the Notes, and is in advanced discussions with certain lenders for the funding necessary to retire the Notes. There can be no assurances that these discussions will result in any transaction or, if a transaction is undertaken, any assurances as to its terms or timing. Senior Secured Credit Facilities On December 15, 2022, the Company entered into a $ 400.0 million term loan facility (the “Term Loan Facility”) pursuant to a credit agreement (the “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 Term Loan Facility, the Company entered into a $ 60.0 million revolving credit facility (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facilities” or “SSCF”) pursuant to a credit agreement (the “Revolving Credit Agreement” and, together with the Term Loan Credit Agreement, the “Credit Agreements”) with JPMorgan Chase Bank, N.A., in its capacity as administrative agent, collateral agent and issuing bank, and other lenders and issuing banks thereunder. The Revolving Credit Facility and the Term Loan Facility are scheduled to mature on December 15, 2027 and December 15, 2028 . However, in the event the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes (as defined below) beyond the maturity date of the Term Loan Facility by the date 91 days prior to June 15, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to June 15, 2025. Similarly, in the event the Company has not redeemed, refinanced or otherwise extended the redemption date of the redeemable preferred stock beyond the maturity date of the Term Loan Facility by the date 91 days prior to September 14, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to September 14, 2025. The Term Loan Facility requires quarterly principal payments of $ 1.0 million. Additional principal payments may be due with respect to asset sales, debt issuances and as a percentage of cash flow in excess of a specified threshold. Amounts borrowed under the Term Loan Facility may be voluntarily prepaid subject to a prepayment premium of 2.00 percent and 1.00 percent of the loan principal during second and third years. After the third anniversary of the closing date, there is no prepayment premium. Interest Rates As of June 30, 2024, the interest rate on borrowings under the Term Loan Facility was SOFR plus 8.0 percent and will remain at SOFR plus 8.0 percent for each period for which the Company ’ s Secured Net Leverage Ratio (as defined in the Term Loan Credit Agreement) is greater than 1.0 to 1.0 . Further information on the interest rates of the Senior Secured Credit Facilities is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Guarantees and Collateral Security Further information on the guarantees and collateral security of the Senior Secured Credit Facilities is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Covenants As of June 30, 2024, the Company was in compliance with all covenants under the Credit Agreements. Further information on the covenants of the Senior Secured Credit Facilities is included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023. Available Unused Commitments under the Revolving Credit Facility As of June 30, 2024, the Company had no outstanding borrowings under the Revolving Credit Facility, had outstanding letters of credit of $ 8.4 million and had available unused commitments under the Revolving Credit Facility of $ 51.6 million. Senior Notes On June 15, 2017, the Company issued € 250.0 million aggregate principal amount of 6.00 % Senior Notes due June 15, 2025 (the “Notes”). Interest on the Notes is payable semiannually, on June 15 and December 15. The Company may redeem the Notes, in whole or in part, at a redemption price of 100 percent, plus any accrued and unpaid interest to, but not including, the applicable redemption date. If we experience a change of control or sell certain assets, the Company may be required to offer to purchase the Notes from the holders. The Notes are senior unsecured obligations ranking equally in right of payment with all of its existing and future senior indebtedness and senior in right of payment to any subordinated indebtedness. The Notes are effectively subordinated in right of payment to the existing and future secured indebtedness of the Company, including the Senior Secured Credit Facilities, to the extent of the assets securing such indebtedness. Guarantee Further information on the guarantee of the Notes is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Covenants As of June 30, 2024, the Company was in compliance with all covenants under the indenture governing the Notes. Further information on the covenants of the Notes is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Debt maturities as of June 30, 2024, which are due in the next five years are as follows: Debt Maturities Amount Six remaining months of 2024 $ 2,490 2025 236,734 2026 4,076 2027 4,017 2028 379,991 Total debt liabilities $ 627,308

Supplier Finance Program

Supplier Finance Program	6 Months Ended
	Jun. 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 June 30, 2024 and December 31, 2023 were $ 23.0 million and $ 18.0 million.

Redeemable Shares

Redeemable Shares	6 Months Ended
	Jun. 30, 2024
Text Block [Abstract]
Redeemable Shares	NOTE 10 - REDEEMABLE SHARES Preferred Stock During the three months ended June 30, 2024, the preferred stock dividends were paid-in-kind, which increased the stated value of the preferred stock by $ 3.4 million. The preferred shares will continue to accrue dividends at 9.0 percent on the stated value ($ 153.4 million). 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 ($ 153.4 million) plus any accrued unpaid dividends, currently $ 306.7 million as of June 30, 2024 , or (ii) the product of the number of common shares into which the redeemable preferred stock could be converted ( 5.4 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 percent 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 June 30, 2024, there have been no changes in the preferred shareholder rights, including conversion and redemption rights from those described in our Annual Report on Form 10-K for the year ended December 31, 2023. 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	6 Months Ended
	Jun. 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 5,446 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 six months ended June 30, 2024 and June 30, 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 six months ended June 30, 2024 and June 30, 2023 were attributed to the common shares. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (Dollars in thousands, except per share amounts) Basic Earnings (Loss) Per Share: Net income (loss) $ ( 11,124 ) $ ( 67 ) $ ( 43,873 ) $ ( 4,114 ) Less: Redeemable preferred stock dividends and accretion ( 10,353 ) ( 9,645 ) ( 20,519 ) ( 19,085 ) Less: Noncontrolling redeemable equity dividend — ( 11 ) ( 7 ) ( 21 ) Basic numerator $ ( 21,477 ) $ ( 9,723 ) $ ( 64,399 ) $ ( 23,220 ) Basic earnings (loss) per share $ ( 0.75 ) $ ( 0.35 ) $ ( 2.26 ) $ ( 0.84 ) Weighted average shares outstanding – Basic 28,732 28,035 28,493 27,669 Diluted Earnings (Loss) Per Share: Net income (loss) $ ( 11,124 ) $ ( 67 ) $ ( 43,873 ) $ ( 4,114 ) Less: Redeemable preferred stock dividends and accretion ( 10,353 ) ( 9,645 ) ( 20,519 ) ( 19,085 ) Less: Noncontrolling redeemable equity dividend — ( 11 ) ( 7 ) ( 21 ) Diluted numerator $ ( 21,477 ) $ ( 9,723 ) $ ( 64,399 ) $ ( 23,220 ) Diluted earnings (loss) per share $ ( 0.75 ) $ ( 0.35 ) $ ( 2.26 ) $ ( 0.84 ) Weighted average shares outstanding – Basic 28,732 28,035 28,493 27,669 Dilutive effect of common share equivalents — — — — Weighted average shares outstanding – Diluted 28,732 28,035 28,493 27,669

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12 - INCOME TAXES 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. The income tax provision for the three and six months ended June 30, 2024 was $ 6.4 million and $ 23.1 million on pre-tax losses of $ 4.7 million and $ 20.8 million, resulting in an effective income tax rate of ( 136.5 ) percent and ( 110.9 ) perce nt. The effective income tax rate for the three months ended June 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 six months ended June 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 tax restructuring of $ 17.8 million. The income tax provision for the three and six months ended June 30, 2023 was $ 5.8 million and $ 9.1 million on pre-tax income of $ 5.7 million and $ 5.0 million, resulting in an effective income tax rate of 101.2 percent and 182.6 percent. The effective income tax rate for the three months ended June 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 six months ended June 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 our net deferred tax assets. As of June 30, 2024, certain U.S. and substantially all our German deferred tax assets, net of deferred tax liabilities, were subject to valuation allowances. The Organization for Economic Co-operation and Development has issued Pillar Two model rules introducing a new global minimum tax of 15.0 percent 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 our worldwide operations. Currently, enacted Pillar Two legislation does not have a material effect on our consolidated financial statements. We will continue to assess U.S. and global legislative action related to Pillar Two for potential effects.

Leases

Leases	6 Months Ended
	Jun. 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 our 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 our condensed consolidated balance sheets. Right-of-use (“ROU”) assets represent our right to use an underlying asset for the lease term and lease liabilities represent our 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 we generally do not have access to the interest rate implicit in the lease, the Company uses our 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 and certain equipment. The remaining terms of our leases range from ove r one year to five years . C ertain leases include options to extend the lease term for up to ten years , as well as options to terminate, both of which have been excluded from the term of the lease since exercise of these options is not reasonably certain. Lease expense and cash flow for the three and six months ended June 30, 2024 and June 30, 2023 are as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Lease Expense Finance lease expense: Amortization of right-of-use assets $ 129 $ 251 $ 263 $ 496 Interest on lease liabilities 5 15 11 31 Operating lease expense 807 738 1,634 1,361 Total lease expense $ 941 $ 1,004 $ 1,908 $ 1,888 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 5 $ 15 $ 11 $ 31 Operating cash outflows from operating leases 833 766 1,685 1,402 Financing cash outflows from finance leases 144 263 293 551 Right-of-use assets obtained in exchange for finance lease liabilities, 7 142 13 538 Right-of-use assets obtained in exchange for operating lease 24 651 39 651 Operating and finance lease assets and liabilities, average lease term, and average discount rate as of June 30, 2024 and December 31, 2023 are as follows: June 30, December 31, Balance Sheet Information Operating leases: Other noncurrent assets $ 8,461 $ 10,003 Accrued liabilities $ ( 2,877 ) $ ( 2,987 ) Other noncurrent liabilities ( 5,519 ) ( 7,000 ) Total operating lease liabilities $ ( 8,396 ) $ ( 9,987 ) Finance leases: Property, plant and equipment gross $ 2,314 $ 2,301 Accumulated depreciation ( 1,145 ) ( 882 ) Property, plant and equipment, net $ 1,169 $ 1,419 Current portion of long-term debt $ ( 490 ) $ ( 538 ) Long-term debt (less current portion) ( 292 ) ( 586 ) Total finance lease liabilities $ ( 782 ) $ ( 1,124 ) Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 1.7 2.0 Weighted-average remaining lease term - operating leases (years) 2.9 3.3 Weighted-average discount rate - finance leases 2.4 % 2.4 % Weighted-average discount rate - operating leases 5.0 % 5.0 % Future minimum payments under our leases as of June 30, 2024 are as follows: Amount Lease Maturities Finance Leases Operating Leases Six remaining months of 2024 $ 490 $ 1,735 2025 208 3,045 2026 76 2,900 2027 17 1,295 2028 8 - Total 799 8,975 Less: Imputed interest ( 17 ) ( 579 ) Total lease liabilities, net of interest $ 782 $ 8,396

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	NOTE 14 - STOCK-BASED COMPENSATION Our 2018 Equity Incentive Plan (the “Plan”), as amended, authorizes us 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 our officers, key employees, nonemployee directors and consultants. At June 30, 2024, there were 0.6 million shares available for future grants under this Plan. It is our 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 $ 8.6 million is expected to be recognized over a weighted average period of approximately 1.9 years as of June 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 is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Stock compensation expense $ 2,367 $ 2,203 $ 4,087 $ 3,004 RSU and PSU activity for the six months ended June 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 June 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	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 15 – COMMITMENTS AND CONTINGENCIES Purchase Commitments When market conditions warrant, we may enter into purchase commitments to secure the supply of certain commodities used in the manufacture of our products, such as aluminum, electricity, natural gas and other raw materials. Prices under our 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 of our purchase agreements include volume commitments, however any excess commitments are generally negotiated with suppliers and those which have occurred in the past have been carried over to future periods. Contingencies We are party to various legal and environmental proceedings incidental to our business. Certain claims, suits and complaints arising in the ordinary course of business have been filed or are pending against us. Based on facts now known, except as provided below, we believe all such matters are adequately provided for, covered by insurance, are without merit and/or involve such amounts that would not materially adversely affect our 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, the Company could be subject to a fine or civil proceedings. At this point, we are 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 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 asserting that 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 recent developments at an appellate hearing, the Company has concluded that an adverse judgment is now probable of occurring. 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	6 Months Ended
	Jun. 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 June 30, 2024 and June 30, 2023, the Company sold trade receivables totaling $ 135.8 million and $ 198.1 million and incurred factoring fees of $ 1.1 million and $ 1.0 million. During the six months ended June 30, 2024 and June 30, 2023, the Company sold trade receivables totaling $ 297.6 million and $ 423.4 million and incurred factoring fees of $ 2.3 million and $ 2.0 million. As of June 30, 2024 and December 31, 2023, receivables of $ 94.5 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 $ 141.0 million and $ 142.1 million as of June 30, 2024 and December 31, 2023.

Restructuring

Restructuring	6 Months Ended
	Jun. 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 months ended June 30, 2024, an additional restructuring charge was incurred of $ 1.0 million related to further restructuring of our European business. During the three and six months ended June 30, 2023, we initiated a program to reduce our global workforce to better align our cost structure with lower automotive industry production levels. As a result, we recognized restructuring charges of $ 2.5 million and $ 7.8 million for the three and six months ended June 30, 2023. The changes in the restructuring reserve balance for the three and six months ended June 30, 2024 and June 30, 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 end of period $ ( 2,427 ) $ ( 7,807 )

Receivable from SPG Bankruptcy

Receivable from SPG Bankruptcy Estate	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Receivable from SPG Bankruptcy Estate	NOTE 18 – RECEIVABLE FROM SPG BANKRUPTCY ESTATE On August 31, 2023, the Company’s 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. As of June 30, 2024 and December 31, 2023, the Company’s receivable due from the SPG bankruptcy estate was $ 15.1 million and $ 15.3 million and the associated allowance was $ 12.0 million and $ 14.8 million. The resulting net receivable as of June 30, 2024 and December 31, 2023 was $ 3.1 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)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The principal business of Superior Industries International, Inc. (referred herein as the “Company,” “Superior,” or “we” and “our”) 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. Our aluminum wheels are primarily sold to OEMs for factory installation on new light vehicles. We also sell aluminum wheels to the European aftermarket under the brands ATS, RIAL, ALUTEC and ANZIO. North America and Europe represent the primary markets for our products, but we have 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 our consolidated financial statements and notes thereto filed with the SEC in our 2023 Annual Report on 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 us to make 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 our future results. Additionally, interim results may not be indicative of our results for future interim periods or our annual results.
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 our 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

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Opening and Closing Balances of Company's Customer Receivables and Current and Long-term Contract Liabilities	The opening and closing balances of the Company’s customer receivables and current and long-term contract liabilities balances are as follows: June 30, December 31, Change Customer receivables $ 65,267 $ 41,879 $ 23,388 Contract liabilities—current 5,632 2,982 2,650 Contract liabilities—noncurrent 6,648 8,530 ( 1,882 )

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 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 June 30, 2024 and December 31, 2023: June 30, 2024 Current Derivative Financial Instruments Derivative Financial Instruments Accrued Other Derivatives designated as hedging instruments: Foreign exchange contracts $ 26,422 $ 27,418 $ 382 $ 10 Commodity contracts 533 46 2,037 1,085 Interest rate contracts 3,306 811 — — Derivatives not designated as hedging instruments: Foreign exchange contracts — — 1,966 — Total derivative financial instruments $ 30,261 $ 28,275 $ 4,385 $ 1,095 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 June 30, 2024 and December 31, 2023: Notional Amount June 30, December 31, Derivatives designated as hedging instruments: Foreign exchange contracts $ 377,035 $ 432,529 Commodity contracts 16,601 27,013 Interest rate contracts 200,000 200,000 Derivatives not designated as hedging instruments: Foreign exchange contracts 49,079 34,764 Total derivative financial instruments $ 642,715 $ 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 six months ended June 30, 2024 and June 30, 2023: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Derivatives designated as hedging instruments: Amount of gain or (loss) recognized in OCI on derivatives, net of tax $ ( 15,976 ) $ 30,344 $ ( 13,282 ) $ 48,464 Amount of pre-tax gain or (loss) reclassified from accumulated OCI into: Cost of sales 8,785 4,946 16,815 7,978 Interest expense, net 1,140 1,204 2,287 2,100 Derivatives not designated as hedging instruments: Amount of pre-tax gain or (loss) recognized in other income (expense), net ( 2,049 ) 1,398 ( 1,824 ) 3,993

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Items Measured at Fair Value	The following tables categorize items measured at fair value as of June 30, 2024 and December 31, 2023: Fair Value Hierarchy June 30, December 31, Derivative assets Level 2 $ 58,536 $ 78,769 Derivative liabilities Level 2 $ 5,480 $ 4,836
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: June 30, December 31, Estimated fair value $ 625,799 $ 627,008 Carrying value 607,725 615,954

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 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 June 30, June 30, June 30, June 30, June 30, June 30, North America $ 203,203 $ 208,205 $ 10,334 $ 9,378 $ 13,195 $ 21,504 Europe 115,764 164,398 11,554 14,089 ( 2,951 ) 2,513 $ 318,967 $ 372,603 $ 21,888 $ 23,467 $ 10,244 $ 24,017 Net Sales Depreciation and Amortization Income (Loss) from Operations Six Months Ended June 30, June 30, June 30, June 30, June 30, June 30, North America $ 396,711 $ 419,823 $ 20,677 $ 18,425 $ 21,277 $ 43,219 Europe 238,532 333,746 23,157 27,883 ( 10,719 ) ( 4,066 ) $ 635,243 $ 753,569 $ 43,834 $ 46,308 $ 10,558 $ 39,153 Total Assets June 30, December 31, North America $ 583,438 $ 625,612 Europe 370,364 404,959 $ 953,802 $ 1,030,571

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Summary of Inventories	June 30, December 31, Raw materials $ 42,460 $ 44,539 Work in process 42,160 25,289 Finished goods 62,742 74,781 Inventories, net $ 147,362 $ 144,609

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Amortization Expense and Annual Anticipated Future Amortization	Amortization for the three and six months ended June 30, 2024 and June 30, 2023 were as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Amortization expense $ 4,842 $ 4,900 $ 9,726 $ 9,724 Annual Anticipated Future Amortization Amount Six Remaining Months of 2024 $ 9,639 2025 9,472 2026 2,477 2027 1,032 Total anticipated future amortization $ 22,620

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Obligations	A summary of the Company ’s long-term obligations is as follows: June 30, 2024 December 31, 2023 Principal Carrying Value Principal Carrying Value Senior Secured Credit Facilities: Revolving Credit Facility $ — $ — $ — $ — Term Loan Facility 394,000 375,400 396,000 375,920 Senior Notes: 6.00 % Senior Notes 232,526 231,543 239,601 238,126 Other debt: European CapEx loans — — 784 784 Finance leases 782 782 1,124 1,124 607,725 615,954 Less: Current portion of long-term debt ( 236,032 ) ( 5,322 ) Long-term debt $ 371,693 $ 610,632
Schedule of Debt Maturities	Debt maturities as of June 30, 2024, which are due in the next five years are as follows: Debt Maturities Amount Six remaining months of 2024 $ 2,490 2025 236,734 2026 4,076 2027 4,017 2028 379,991 Total debt liabilities $ 627,308

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (Dollars in thousands, except per share amounts) Basic Earnings (Loss) Per Share: Net income (loss) $ ( 11,124 ) $ ( 67 ) $ ( 43,873 ) $ ( 4,114 ) Less: Redeemable preferred stock dividends and accretion ( 10,353 ) ( 9,645 ) ( 20,519 ) ( 19,085 ) Less: Noncontrolling redeemable equity dividend — ( 11 ) ( 7 ) ( 21 ) Basic numerator $ ( 21,477 ) $ ( 9,723 ) $ ( 64,399 ) $ ( 23,220 ) Basic earnings (loss) per share $ ( 0.75 ) $ ( 0.35 ) $ ( 2.26 ) $ ( 0.84 ) Weighted average shares outstanding – Basic 28,732 28,035 28,493 27,669 Diluted Earnings (Loss) Per Share: Net income (loss) $ ( 11,124 ) $ ( 67 ) $ ( 43,873 ) $ ( 4,114 ) Less: Redeemable preferred stock dividends and accretion ( 10,353 ) ( 9,645 ) ( 20,519 ) ( 19,085 ) Less: Noncontrolling redeemable equity dividend — ( 11 ) ( 7 ) ( 21 ) Diluted numerator $ ( 21,477 ) $ ( 9,723 ) $ ( 64,399 ) $ ( 23,220 ) Diluted earnings (loss) per share $ ( 0.75 ) $ ( 0.35 ) $ ( 2.26 ) $ ( 0.84 ) Weighted average shares outstanding – Basic 28,732 28,035 28,493 27,669 Dilutive effect of common share equivalents — — — — Weighted average shares outstanding – Diluted 28,732 28,035 28,493 27,669

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2024 and June 30, 2023 are as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Lease Expense Finance lease expense: Amortization of right-of-use assets $ 129 $ 251 $ 263 $ 496 Interest on lease liabilities 5 15 11 31 Operating lease expense 807 738 1,634 1,361 Total lease expense $ 941 $ 1,004 $ 1,908 $ 1,888 Cash Flow Components Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from finance leases $ 5 $ 15 $ 11 $ 31 Operating cash outflows from operating leases 833 766 1,685 1,402 Financing cash outflows from finance leases 144 263 293 551 Right-of-use assets obtained in exchange for finance lease liabilities, 7 142 13 538 Right-of-use assets obtained in exchange for operating lease 24 651 39 651 Operating and finance lease assets and liabilities, average lease term, and average discount rate as of June 30, 2024 and December 31, 2023 are as follows: June 30, December 31, Balance Sheet Information Operating leases: Other noncurrent assets $ 8,461 $ 10,003 Accrued liabilities $ ( 2,877 ) $ ( 2,987 ) Other noncurrent liabilities ( 5,519 ) ( 7,000 ) Total operating lease liabilities $ ( 8,396 ) $ ( 9,987 ) Finance leases: Property, plant and equipment gross $ 2,314 $ 2,301 Accumulated depreciation ( 1,145 ) ( 882 ) Property, plant and equipment, net $ 1,169 $ 1,419 Current portion of long-term debt $ ( 490 ) $ ( 538 ) Long-term debt (less current portion) ( 292 ) ( 586 ) Total finance lease liabilities $ ( 782 ) $ ( 1,124 ) Lease Term and Discount Rates Weighted-average remaining lease term - finance leases (years) 1.7 2.0 Weighted-average remaining lease term - operating leases (years) 2.9 3.3 Weighted-average discount rate - finance leases 2.4 % 2.4 % Weighted-average discount rate - operating leases 5.0 % 5.0 %
Schedule of Future Minimum Rental Payments Under Finance and Operating Leases	Future minimum payments under our leases as of June 30, 2024 are as follows: Amount Lease Maturities Finance Leases Operating Leases Six remaining months of 2024 $ 490 $ 1,735 2025 208 3,045 2026 76 2,900 2027 17 1,295 2028 8 - Total 799 8,975 Less: Imputed interest ( 17 ) ( 579 ) Total lease liabilities, net of interest $ 782 $ 8,396

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 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 six months ended June 30, 2024 and June 30, 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 end of period $ ( 2,427 ) $ ( 7,807 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 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 is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Stock compensation expense $ 2,367 $ 2,203 $ 4,087 $ 3,004
Summary of RSU and PSU Activity	RSU and PSU activity for the six months ended June 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 June 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 Company's Customer Receivables and Current and Long-term Contract Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Contract With Customer Asset And Liability [Line Items]
Customer receivables	$ 65,267	$ 41,879
Contract liabilities—current	5,632	2,982
Contract liabilities-noncurrent	6,648	$ 8,530
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Contract With Customer Asset And Liability [Line Items]
Customer receivables	23,388
Contract liabilities—current	2,650
Contract liabilities-noncurrent	$ (1,882)

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail)	6 Months Ended
	Jun. 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	Jun. 30, 2024	Dec. 31, 2023
Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ 30,261	$ 38,298
Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	28,275	40,471
Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	4,385	3,511
Other Non-current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	1,095	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	26,422	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	27,418	39,902
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	382	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	10	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		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	1,966	677
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Current Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	533	549
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Derivative Financial Instruments [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	46	115
Commodity Contract [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	2,037	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	1,085	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	3,306	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	$ 811	$ 454

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Notional Amount of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional Amount	$ 642,715	$ 694,306
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	377,035	432,529
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Notional Amount	16,601	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	$ 49,079	$ 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) recognized in OCI on derivatives, net of tax	$ (15,976)	$ 30,344	$ (13,282)	$ 48,464
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Cost of sales	287,347	331,570	582,477	677,958
Interest expense, net	(15,823)	(15,690)	(31,701)	(31,388)
Amount of pre-tax gain or (loss) recognized in other income (expense), net	875	(2,600)	338	(2,787)
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	(15,976)	30,344	(13,282)	48,464
Amount of pre-tax gain or (loss) reclassified from accumulated OCI into:
Cost of sales	8,785	4,946	16,815	7,978
Interest expense, net	1,140	1,204	2,287	2,100
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	$ (2,049)	$ 1,398	$ (1,824)	$ 3,993

Fair Value Measurements - Recur

Fair Value Measurements - Recurring (Detail) - Recurring [Member] - Level 2 [Member] - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Derivative assets	$ 58,536	$ 78,769
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets, Current	Assets, Current
Liabilities
Derivative liabilities	$ 5,480	$ 4,836
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities, Current	Liabilities, Current

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Debt Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Instrument Detail [Abstract]
Estimated fair value	$ 625,799	$ 627,008
Aggregate carrying value	$ 607,725	$ 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 318,967	$ 372,603	$ 635,243	$ 753,569
Depreciation and amortization	21,888	23,467	43,834	46,308
Income (Loss) from Operations	10,244	24,017	10,558	39,153
Total assets	953,802		953,802		$ 1,030,571
North America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	203,203	208,205	396,711	419,823
Depreciation and amortization	10,334	9,378	20,677	18,425
Income (Loss) from Operations	13,195	21,504	21,277	43,219
Total assets	583,438		583,438		625,612
Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	115,764	164,398	238,532	333,746
Depreciation and amortization	11,554	14,089	23,157	27,883
Income (Loss) from Operations	(2,951)	$ 2,513	(10,719)	$ (4,066)
Total assets	$ 370,364		$ 370,364		$ 404,959

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 42,460	$ 44,539
Work in process	42,160	25,289
Finished goods	62,742	74,781
Inventories, net	$ 147,362	$ 144,609

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory, non-current	$ 11.3	$ 11.7

Intangible Assets - Summary of

Intangible Assets - Summary of Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,842	$ 4,900	$ 9,726	$ 9,724

Intangible Assets - Summary o_2

Intangible Assets - Summary of Annual Anticipated Future Amortization (Detail) $ in Thousands	Jun. 30, 2024 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Six Remaining Months of 2024	$ 9,639
2025	9,472
2026	2,477
2027	1,032
Total anticipated future amortization	$ 22,620

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 366,451	$ 398,599

Debt - Summary of Long-Term Obl

Debt - Summary of Long-Term Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal	$ 627,308
Carrying Value	607,725	$ 615,954
Less: Current portion	(236,032)	(5,322)
Long-term debt	371,693	610,632
Term Loan Facility [Member]
Debt Instrument [Line Items]
Principal	394,000	396,000
Carrying Value	375,400	375,920
Senior Notes [Member] | 6.00% Senior Notes [Member]
Debt Instrument [Line Items]
Principal	232,526	239,601
Carrying Value	231,543	238,126
European CapEx Loans [Member]
Debt Instrument [Line Items]
Principal		784
Carrying Value		784
Finance Leases [Member]
Debt Instrument [Line Items]
Principal	782	1,124
Carrying Value	$ 782	$ 1,124

Debt - Summary of Long-Term O_2

Debt - Summary of Long-Term Obligations (Parenthetical) (Detail)	Jun. 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 - Additional Information (

Debt - Additional Information (Detail)			6 Months Ended
	Dec. 15, 2022 USD ($)	Jun. 15, 2017 EUR (€)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 627,308,000
Long-term debt, term			5 years
Term loan facility balance			$ 607,725,000	$ 615,954,000
Senior Notes, 6.00%, due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Jun. 15, 2025
Debt instrument maturity date description			If the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes beyond the maturity date of its term loan facility by March 17, 2025, its term loan facility and revolving credit facility would become due on March 17, 2025.
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%
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument maturity date description	However, in the event the Company has not repaid, refinanced or otherwise extended the maturity date of the Notes (as defined below) beyond the maturity date of the Term Loan Facility by the date 91 days prior to June 15, 2025, the Term Loan Facility and Revolving Credit Facility would mature 91 days prior to June 15, 2025. Similarly, in the event the Company has not redeemed, refinanced or otherwise extended the redemption date of the redeemable preferred stock beyond the maturity date of the Term Loan Facility by the date 91 days prior to September 14, 2025,
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	$ 400,000,000
Line of credit facility maturity date	Dec. 15, 2028
Principal payment amount	$ 1,000,000
Amount outstanding			$ 8,400,000
Senior Secured Term Loan Facility [Member] | SOFR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			8%
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] | Minimum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio			1%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured net leverage ratio			1%
Revolving Credit Facility [Member] | Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Amount of term loan facility	$ 60,000,000
Line of credit facility maturity date	Dec. 15, 2027
Outstanding borrowings			$ 0
Revolving Credit Facility [Member] | Senior Secured Term Loan Facility [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Amount of availability			$ 51,600,000

Debt - Schedule of Debt Maturit

Debt - Schedule of Debt Maturities (Detail) $ in Thousands	Jun. 30, 2024 USD ($)
Maturities of Long-Term Debt [Abstract]
Six remaining months of 2024	$ 2,490
2025	236,734
2026	4,076
2027	4,017
2028	379,991
Carrying Value	$ 627,308

Supplier Finance Program - Addi

Supplier Finance Program - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 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	$ 23	$ 18

Redeemable Shares - Additional

Redeemable Shares - Additional Information (Detail) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Temporary Equity [Line Items]
Redeemable preferred stock	$ 265,386,000		$ 265,386,000		$ 248,222,000
Preferred stock percentage	9%	9%	9%	9%
Increase in stated value of preferred stock	$ 3,400,000
Preferred stock redemption date			Sep. 14, 2025
Common stock, shares issued upon conversion of preferred stock	5,446		5,446
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 ($153.4 million) plus any accrued unpaid dividends, currently $306.7 million as of June 30, 2024
Convertible preferred stock, face value	$ 153,400,000		$ 153,400,000
Convertible preferred stock, redemption value	$ 306,700,000		$ 306,700,000
Common stock, shares issued upon conversion of preferred stock	5,400		5,400

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) shares in Thousands	Jun. 30, 2024 shares
Earnings Per Share [Abstract]
Common stock, shares issued upon conversion of preferred stock	5,446

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic Earnings (Loss) Per Share:
Net income (loss)	$ (11,124)	$ (67)	$ (43,873)	$ (4,114)
Less: Redeemable preferred stock dividends and accretion	(10,353)	(9,645)	(20,519)	(19,085)
Less: Noncontrolling redeemable equity dividend		(11)	(7)	(21)
Basic numerator	$ (21,477)	$ (9,723)	$ (64,399)	$ (23,220)
Basic earnings (loss) per share	$ (0.75)	$ (0.35)	$ (2.26)	$ (0.84)
Weighted average shares outstanding – Basic	28,732	28,035	28,493	27,669
Diluted Earnings (Loss) Per Share:
Net income (loss)	$ (11,124)	$ (67)	$ (43,873)	$ (4,114)
Less: Redeemable preferred stock dividends and accretion	(10,353)	(9,645)	(20,519)	(19,085)
Less: Noncontrolling redeemable equity dividend		(11)	(7)	(21)
Diluted numerator	$ (21,477)	$ (9,723)	$ (64,399)	$ (23,220)
Diluted earnings (loss) per share	$ (0.75)	$ (0.35)	$ (2.26)	$ (0.84)
Weighted average shares outstanding – Basic	28,732	28,035	28,493	27,669
Weighted average shares outstanding – Diluted	28,732	28,035	28,493	27,669

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax provision		$ 6,420	$ 5,794	$ 23,068	$ 9,092
Pre-tax (Losses) Income		$ (4,704)	$ 5,727	$ (20,805)	$ 4,978
Effective income tax rates		(136.50%)	101.20%	(110.90%)	182.60%
Deferred tax charge related to tax restructuring		$ 17,800		$ 17,800
New global minimum tax rate	15%

Leases - Additional Information

Leases - Additional Information (Detail)	6 Months Ended
	Jun. 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finance lease expense:
Amortization of right-of-use assets	$ 129	$ 251	$ 263	$ 496
Interest on lease liabilities	5	15	11	31
Operating lease expense	807	738	1,634	1,361
Total lease expense	941	1,004	1,908	1,888
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from finance leases	5	15	11	31
Operating cash outflows from operating leases	833	766	1,685	1,402
Financing cash outflows from finance leases	144	263	293	551
Right-of-use assets obtained in exchange for finance lease liabilities, net of terminations and disposals	7	142	13	538
Right-of-use assets obtained in exchange for operating lease liabilities, net of terminations and disposals	24	$ 651	39	$ 651
Operating leases:
Other noncurrent assets	$ 8,461		$ 8,461		$ 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	$ (2,877)		$ (2,877)		$ (2,987)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Other noncurrent liabilities	$ (5,519)		$ (5,519)		$ (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	$ (8,396)		$ (8,396)		$ (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	$ 2,314		$ 2,314		$ 2,301
Accumulated depreciation	(1,145)		(1,145)		(882)
Property, plant and equipment, net	$ 1,169		$ 1,169		$ 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	$ (490)		$ (490)		$ (538)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses		Accrued expenses		Accrued expenses
Long-term debt (less current portion)	$ (292)		$ (292)		$ (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	$ (782)		$ (782)		$ (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 8 months 12 days		1 year 8 months 12 days		2 years
Weighted-average remaining lease term - operating leases (years)	2 years 10 months 24 days		2 years 10 months 24 days		3 years 3 months 18 days
Weighted-average discount rate - finance leases	2.40%		2.40%		2.40%
Weighted-average discount rate - operating leases	5%		5%		5%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments For Finance and Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance Leases, Six remaining months of 2024	$ 490
Finance Leases, 2025	208
Finance Leases, 2026	76
Finance Leases, 2027	17
Finance Leases, 2028	8
Finance Leases, Total	799
Finance Leases, Less: Imputed interest	(17)
Finance Leases, Total lease liabilities, net of interest	782	$ 1,124
Operating Leases, Six remaining months of 2024	1,735
Operating Leases, 2025	3,045
Operating Leases, 2026	2,900
Operating Leases, 2027	1,295
Operating Leases, Total	8,975
Operating Leases, Less: Imputed interest	(579)
Operating Leases, Total lease liabilities, net of interest	$ 8,396	$ 9,987

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 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	$ 2,367	$ 2,203	$ 4,087	$ 3,004
Amount of unrecognized stock-based compensation expense	$ 8,600		$ 8,600
Weighted average period for recognition			1 year 10 months 24 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 2,367	$ 2,203	$ 4,087	$ 3,004

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU and PSU Activity (Detail)	6 Months Ended
	Jun. 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	Jun. 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts Receivable [Line Items]
Trade receivables	$ 135,800,000	$ 198,100,000	$ 297,600,000	$ 423,400,000
Collective limit under factoring arrangements	141,000,000		141,000,000		$ 142,100,000
Factored receivables yet not collected	94,500,000		94,500,000		$ 92,400,000
Other (Expense) Income, Net [Member]
Accounts Receivable [Line Items]
Factoring fees	$ 1,100,000	$ 1,000,000	$ 2,300,000	$ 2,000,000

Restructuring - Additional Info

Restructuring - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring charge	$ 1,000		$ 2,500		$ 7,800
Revision to previous estimates		$ 933		$ (5,270)

Restructuring - Summary of Chan

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

Receivable from SPG Bankruptc_2

Receivable from SPG Bankruptcy Estate - Additional Information (Details) - SPG Bankruptcy Estate [Member] - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Receivables from subsidiary	$ 15.1	$ 15.3
Allowance for receivables	12	14.8
Other Non-current Assets [Member]
Noncontrolling Interest [Line Items]
Receivables from subsidiary	$ 3.1	$ 0.5