Segment and Geographical Area Information (Tables)

6 Months Ended

Jun. 30, 2011

Segment and Geographical Area Information [Abstract]

Summary of financial information by operating segment

	Quarter Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Net Sales:
Fabricated Products	$	338.8		$	282.4		$	661.4		$	549.6
All Other1		—			—			—			0.3
Total net sales	$	338.8		$	282.4		$	661.4		$	549.9
Segment Operating Income (Loss):2
Fabricated Products 3,4,5	$	32.9		$	32.2		$	56.6		$	54.3
All Other5		(17.5	)		(28.2	)		(20.7	)		(35.5	)
Total operating income	$	15.4		$	4.0		$	35.9		$	18.8
Interest expense		(4.4	)		(3.5	)		(8.9	)		(3.5	)
Other (expense) income, net		(3.4	)		0.7			(1.7	)		0.9
Income before income taxes	$	7.6		$	1.2		$	25.3		$	16.2
Depreciation and Amortization:
Fabricated Products	$	6.3		$	4.9		$	12.4		$	8.9
All Other		0.1			0.1			0.3			0.1
Total depreciation and amortization	$	6.4		$	5.0		$	12.7		$	9.0
Capital expenditures:
Fabricated Products	$	7.9		$	12.3		$	14.1		$	25.8
All Other		—			0.5			—			0.9
Total capital expenditures	$	7.9		$	12.8		$	14.1		$	26.7
Income Taxes Paid:
Fabricated Products —
United States	$	0.7		$	0.2		$	0.8		$	0.2
Canada		0.2			—			0.2			0.1
Total income taxes paid	$	0.9		$	0.2		$	1.0		$	0.3

	June 30,		December 31,
	2011		2010
Segment assets:
Fabricated Products	$	625.3	$	496.7
All Other6		794.5		845.7
Total assets	$	1,419.8	$	1,342.4

1	Net sales in All Other in 2010 represent residual activity involving primary aluminum purchased by the Company from Anglesey while it continued its smelting operations, prior to September 30, 2009, and resold by the company in the first quarter of 2010. In connection with Anglesey’s new remelt operations beginning in the fourth quarter of 2009, the Company changed its basis of revenue recognition from gross to a net basis (see Note 1).
2	The Company periodically reassesses the methodologies used to allocate costs among the Company’s business units to assess segment profitability. Commencing the fourth quarter of 2010, the Company modified the allocation of incentive compensation expense relating to its LTI programs and certain STI Plans among its business units. All operating results prior to the fourth quarter of 2010 have been retrospectively adjusted for consistency with the modified cost allocation methodologies. These reclassifications among the Company’s business units had no impact on the Company’s segment or consolidated Net sales, or its consolidated operating income. As a result of the reclassifications, an additional $0.9 and $1.8 of charges relating to the Company’s LTI programs and certain STI Plans are reflected in the operating results of the Fabricated Products segment in the quarter and six months ended June 30, 2010, respectively.
3	Operating results in the Fabricated Products segment for the quarters ended June 30, 2011 and June 30, 2010 included LIFO inventory charges (benefits) of $5.0 and $(1.0), respectively. Operating results in the Fabricated Products segment for the six month periods ended June 30, 2011 and June 30, 2010 included LIFO inventory charges of $19.9 and $8.2, respectively.
4	Operating results in the Fabricated Products segment for the quarters ended June 30, 2011 and June 30, 2010 include environmental expenses of $0.3 and $0, respectively. Operating results in the Fabricated Products segment for the six month periods ended June 30, 2011 and June 30, 2010 include environmental expenses of $0.5 and $0.4, respectively.
	Fabricated Products segment results for the quarter and six months ended June 30, 2011 include non-cash mark-to-market gains on natural gas, electricity and foreign currency hedging activities totaling $0.2 million and $1.4 million, respectively. Fabricated Products segment results for the quarter and six months ended June 30, 2010 include non-cash mark-to-market gains (losses) on natural gas and foreign currency hedging activities of $0.4 million and $(2.8) million, respectively. For further discussion regarding mark-to-market matters, see Note 11.
5	Operating results of the Fabricated Products segment and All Other include gains and losses on intercompany hedging activities related to metal. These amounts eliminate in consolidation. Internal hedging gains (losses) related to metal were $5.0 and $(1.3) for the quarters ended June 30, 2011 and June 30, 2010, respectively. Internal hedging gains (losses) related to metal were $9.3 and $(1.9) for the six months ended June 30, 2011 and June 30, 2010, respectively. All Other included such amounts as (losses) gains for the quarters and six month periods ended June 30, 2011 and June 30, 2010, respectively.
6	Assets in All Other primarily represent all of the Company’s cash and cash equivalents, derivative assets, net assets in respect of VEBAs and net deferred income tax assets.