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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Reconciliation of Adjusted EBITDA to Income Before Provision for Income Taxes and Equity Income
Below is a reconciliation of adjusted EBITDA of segments to income before provision for income taxes:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
(in millions)
2017
 
2016
 
2017
 
2016
Net Sales, External Customers
 
 
 
 
 
 
 
Olin Brass
$
156.9

 
$
152.9

 
$
483.0

 
$
421.9

Chase Brass
144.8

 
124.1

 
439.8

 
381.5

A.J. Oster
76.9

 
72.1

 
226.5

 
212.5

Total net sales, external customers
$
378.6

 
$
349.1

 
$
1,149.3

 
$
1,015.9

Intersegment Net Sales
 
 
 
 
 
 
 
Olin Brass
$
17.6

 
$
16.8

 
$
61.6

 
$
54.6

Chase Brass
—

 
0.2

 
0.1

 
0.8

A.J. Oster
—

 
—

 
0.1

 
—

Total intersegment net sales
$
17.6

 
$
17.0

 
$
61.8

 
$
55.4

Adjusted EBITDA
 
 
 
 
 
 
 
Olin Brass
$
12.0

 
$
18.6

 
$
38.7

 
$
39.7

Chase Brass
18.3

 
16.2

 
56.6

 
53.4

A.J. Oster
3.6

 
4.7

 
10.4

 
14.4

Total adjusted EBITDA of operating segments
33.9

 
39.5

 
105.7

 
107.5

Corporate
(3.6
)
 
(4.9
)
 
(4.6
)
 
(13.3
)
Depreciation expense
(4.5
)
 
(3.7
)
 
(13.5
)
 
(11.0
)
Amortization expense
(0.1
)
 
(0.1
)
 
(0.1
)
 
(0.1
)
Interest expense
(4.4
)
 
(5.2
)
 
(13.9
)
 
(21.5
)
Interest income
0.2

 
—

 
0.3

 
—

Net income attributable to noncontrolling interest
0.1

 
0.2

 
0.4

 
0.4

Unrealized (loss) gain on derivative contracts (a)
0.3

 
(0.4
)
 
(1.1
)
 
2.2

Refinancing costs (b)
(0.9
)
 
(20.1
)
 
(0.9
)
 
(23.4
)
Specified legal / professional expenses (c)
(0.5
)
 
(0.5
)
 
(0.5
)
 
(1.1
)
Lower of cost or market adjustment to inventory (d)
0.7

 
2.2

 
0.8

 
2.1

Share-based compensation expense (e)
(2.0
)
 
(2.2
)
 
(6.3
)
 
(4.9
)
Income before provision for income taxes
$
19.2

 
$
4.8

 
$
66.3

 
$
36.9


(a)
Represents unrealized gains / losses on derivative contracts.
(b)
Represents the loss on extinguishment of debt and other expenses associated with our refinancing activities.
(c)
Represents selected professional fees for accounting, tax, legal and consulting services for merger and acquisition activity or incurred as a public company that exceed our expected long-term requirements.
(d)
Represents the impact of lower of cost or market adjustments to domestic metal inventory.
(e)
Represents compensation expense resulting from stock compensation awards to certain employees and our Board of Directors.