Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of sales by segment

(In millions)	2019		2018		2017
Total sales:
High Performance Materials & Components	$	2,501.9	$	2,413.6	$	2,127.0
Flat Rolled Products	1,820.9		1,799.0		1,527.5
Total sales	4,322.8		4,212.6		3,654.5
Intersegment sales:
High Performance Materials & Components	103.8		79.4		59.6
Flat Rolled Products	96.5		86.6		69.8
Total intersegment sales	200.3		166.0		129.4
Sales to external customers:
High Performance Materials & Components	2,398.1		2,334.2		2,067.4
Flat Rolled Products	1,724.4		1,712.4		1,457.7
Total sales to external customers	$	4,122.5	$	4,046.6	$	3,525.1

Schedule of operating profit (loss) by segment

(In millions)	2019			2018			2017
Operating profit:
High Performance Materials & Components	$	343.1		$	335.4		$	246.4
Flat Rolled Products	37.6			77.8			37.0
Total operating profit	380.7			413.2			283.4
LIFO and net realizable value reserves (See Note 3)	(0.1		)	(0.7		)	(0.2		)
Corporate expenses	(66.8		)	(58.1		)	(50.5		)
Closed operations and other expenses	(25.5		)	(21.6		)	(34.0		)
Restructuring and other charges	(4.5		)	—			—
Impairment of goodwill (See Note 5)	—			—			(114.4		)
Debt extinguishment charge (See Note 10)	(21.6		)	—			(37.0		)
Gain on joint venture deconsolidation (See Note 7)	—			15.9			—
Joint venture impairment charge (See Note 7)	(11.4		)	—			—
Gain on asset sales, net	89.8			—			—
Interest expense, net	(99.0		)	(101.0		)	(133.8		)
Income (loss) before income taxes	$	241.6		$	247.7		$	(86.5	)

Schedule of other financial information by segment

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

(In millions)	2019		2018		2017
Depreciation and amortization:
High Performance Materials & Components	$	99.1	$	106.5	$	109.3
Flat Rolled Products	49.1		47.0		45.6
Corporate	2.9		2.9		5.9
Total depreciation and amortization	$	151.1	$	156.4	$	160.8
Capital expenditures:
High Performance Materials & Components	$	132.5	$	79.8	$	62.7
Flat Rolled Products	34.8		56.4		59.1
Corporate	0.9		3.0		0.9
Total capital expenditures	$	168.2	$	139.2	$	122.7

Identifiable assets:	2019		2018		2017
High Performance Materials & Components	$	2,689.9	$	2,765.4	$	2,662.3
Flat Rolled Products	2,255.8		2,225.7		2,218.4
Discontinued Operations	—		—		0.2
Corporate:
Deferred Taxes	64.5		8.7		7.6
Cash and cash equivalents and other	624.4		502.0		296.9
Total assets	$	5,634.6	$	5,501.8	$	5,185.4

Schedule of company assets by country

($ in millions)	2019		Percent of total		2018		Percent of total		2017		Percent of total
Total assets:
United States	$	4,956.4	88	%	$	4,859.1	88	%	$	4,547.7	88	%
China	288.1		5	%	287.3		5	%	276.0		5	%
United Kingdom	141.3		3	%	136.7		3	%	122.7		2	%
Other	248.8		4	%	218.7		4	%	239.0		5	%
Total Assets	$	5,634.6	100	%	$	5,501.8	100	%	$	5,185.4	100	%