Business Segments (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Schedule of sales by segment

(In millions)	2018		2017		2016
Total sales:
High Performance Materials & Components	$	2,413.6	$	2,127.0	$	1,979.5
Flat Rolled Products	1,799.0		1,527.5		1,260.8
Total sales	4,212.6		3,654.5		3,240.3
Intersegment sales:
High Performance Materials & Components	79.4		59.6		49.1
Flat Rolled Products	86.6		69.8		56.6
Total intersegment sales	166.0		129.4		105.7
Sales to external customers:
High Performance Materials & Components	2,334.2		2,067.4		1,930.4
Flat Rolled Products	1,712.4		1,457.7		1,204.2
Total sales to external customers	$	4,046.6	$	3,525.1	$	3,134.6

Schedule of operating profit (loss) by segment

(In millions)	2018			2017			2016
Operating profit:
High Performance Materials & Components	$	335.4		$	246.4		$	168.7
Flat Rolled Products	77.8			37.0			(163.0		)
Total operating profit	413.2			283.4			5.7
LIFO and net realizable value reserves (See Note 3)	(0.7		)	(0.2		)	0.8
Corporate expenses	(58.1		)	(50.5		)	(43.4		)
Closed operations and other expenses	(21.6		)	(34.0		)	(34.6		)
Restructuring and other charges (See Note 17)	—			—			(538.5		)
Impairment of goodwill (See Note 5)	—			(114.4		)	—
Debt extinguishment charge (See Note 9)	—			(37.0		)	—
Gain on joint venture deconsolidation (See Note 6)	15.9			—			—
Interest expense, net	(101.0		)	(133.8		)	(124.0		)
Income (loss) before income taxes	$	247.7		$	(86.5	)	$	(734.0	)

Schedule of other financial information by segment

Certain additional information regarding the Company’s business segments is presented below:

(In millions)	2018		2017		2016
Depreciation and amortization:
High Performance Materials & Components	$	106.5	$	109.3	$	118.4
Flat Rolled Products	47.0		45.6		48.8
Corporate	2.9		5.9		3.1
Total depreciation and amortization	$	156.4	$	160.8	$	170.3
Capital expenditures:
High Performance Materials & Components	$	79.8	$	62.7	$	89.9
Flat Rolled Products	56.4		59.1		111.8
Corporate	3.0		0.9		0.5
Total capital expenditures	$	139.2	$	122.7	$	202.2

Identifiable assets:	2018		2017		2016
High Performance Materials & Components	$	2,765.4	$	2,662.3	$	2,744.3
Flat Rolled Products	2,225.7		2,218.4		2,056.4
Discontinued Operations	—		0.2		0.4
Corporate:
Deferred Taxes	8.7		7.6		12.1
Cash and cash equivalents and other	502.0		296.9		356.8
Total assets	$	5,501.8	$	5,185.4	$	5,170.0

Schedule of company assets by country

($ in millions)	2018		Percent of total		2017		Percent of total		2016		Percent of total
Total assets:
United States	$	4,859.1	88	%	$	4,547.7	88	%	$	4,591.5	89	%
China	287.3		5	%	276.0		5	%	249.3		5	%
United Kingdom	136.7		3	%	122.7		2	%	122.8		2	%
Other	218.7		4	%	239.0		5	%	206.4		4	%
Total Assets	$	5,501.8	100	%	$	5,185.4	100	%	$	5,170.0	100	%