Derivative Contracts (Tables)

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Commodity Derivative Contracts

The following tables provide a summary of our outstanding commodity derivative contracts:

	As of
	September 30, 2017		December 31, 2016
(in millions)	Net Notional Amount		Net Notional Amount
Metal	$	4.1	$	6.7
Energy and utilities	4.4		1.2
Total	$	8.5	$	7.9

	As of
(in millions)	September 30, 2017			December 31, 2016
Notional amount - long	$	40.4		$	24.4
Notional amount - (short)	(31.9		)	(16.5		)
Net long / (short)	$	8.5		$	7.9

Effects of Derivative Contracts in Condensed Consolidated Financial Statements

The following tables summarize the gross amounts of open derivative contracts, the net amounts presented in the unaudited consolidated balance sheets, and the collateral deposited with counterparties:

	As of September 30, 2017
(in millions)	Gross Amounts of Recognized Assets		Gross Amounts Offset in Consolidated Balance Sheet			Net Amounts of Assets Presented in Consolidated Balance Sheet
Metal	$	3.1	$	(1.8	)	$	1.3
Energy and utilities	0.1		(0.1		)	—
Collateral on deposit	2.1		—			2.1
Total	$	5.3	$	(1.9	)	$	3.4
Consolidated balance sheet location:
Prepaid expenses and other current assets						$	3.4

	As of September 30, 2017
(in millions)	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in Consolidated Balance Sheet			Net Amounts of Liabilities Presented in Consolidated Balance Sheet
Metal	$	1.8	$	(1.8	)	$	—
Energy and utilities	0.2		(0.1		)	0.1
Total	$	2.0	$	(1.9	)	$	0.1
Consolidated balance sheet location:
Other noncurrent liabilities						$	0.1

	As of December 31, 2016
(in millions)	Gross Amounts of Recognized Assets		Gross Amounts Offset in Consolidated Balance Sheet			Net Amounts of Assets Presented in Consolidated Balance Sheet
Metal	$	3.6	$	(1.4	)	$	2.2
Energy and utilities	0.2		—			0.2
Collateral on deposit	0.4		—			0.4
Total	$	4.2	$	(1.4	)	$	2.8
Consolidated balance sheet location:
Prepaid expenses and other current assets						$	2.8

	As of December 31, 2016
(in millions)	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in Consolidated Balance Sheet			Net Amounts of Liabilities Presented in Consolidated Balance Sheet
Metal	$	1.4	$	(1.4	)	$	—
Energy and utilities	—		—			—
Total	$	1.4	$	(1.4	)	$	—

The following table summarizes the effects of derivative contracts in the consolidated statements of operations:

	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions)	2017			2016			2017			2016
Losses (gains) in cost of sales for:
Metal	$	(2.2	)	$	(0.2	)	$	(2.4	)	$	(2.2	)
Energy and utilities	(0.2		)	—			0.3			0.1
Total	$	(2.4	)	$	(0.2	)	$	(2.1	)	$	(2.1	)