XML 62 R51.htm IDEA: XBRL DOCUMENT v3.20.2
Derivatives, Hedging Programs and Other Financial Instruments - Summary of Loss (Gain) Associated with Derivative Contracts (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Derivative Instruments Gain Loss [Line Items]        
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of cashflow hedges are recorded $ 208.4 $ 298.6 $ 719.5 $ 917.2
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded 12.9 12.3 39.1 36.3
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded 0.5 0.8 0.8 0.4
Cost of Sales | Not Designated as Hedging Instrument        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income (1.5)   (0.1)  
Cost of Sales | Not Designated as Hedging Instrument | Alloying metals        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income – Realized loss 0.3   1.7  
Loss (gain) recognized in our Statements of Consolidated Income – Unrealized gain (1.8)   (1.8)  
Depreciation and Amortization | Designated as Hedging Instrument | Foreign Exchange Contract        
Derivative Instruments Gain Loss [Line Items]        
Foreign exchange contracts     (0.1)  
Cash Flow Hedges        
Derivative Instruments Gain Loss [Line Items]        
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of cashflow hedges are recorded 208.4 298.6 719.5 917.2
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income 1.6 5.4 19.2 14.3
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Electricity        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income     0.6  
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Aluminum        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income 1.2 4.8 14.5 13.5
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Natural Gas        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income 0.3 0.1 1.2 0.1
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Alloying Metals        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income   0.5 2.1 0.7
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Alloying Metals (Reclassification Due To Forecasted Transactions No Longer Probable of Occurring        
Derivative Instruments Gain Loss [Line Items]        
Alloying metals (reclassification from AOCI due to forecasted transactions no longer probable of occurring) 0.1   0.8  
Fair Value Hedges        
Derivative Instruments Gain Loss [Line Items]        
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded 12.9 12.3 39.1 36.3
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded $ (0.5) $ (0.8) (0.8) $ (0.4)
Fair Value Hedges | Designated as Hedging Instrument | Foreign Exchange Contract        
Derivative Instruments Gain Loss [Line Items]        
Loss (gain) recognized in our Statements of Consolidated Income     0.3  
Fair Value Hedges | Depreciation and Amortization | Designated as Hedging Instrument | Foreign Exchange Contract        
Derivative Instruments Gain Loss [Line Items]        
Hedged item     0.1  
Excluded component amortized from AOCI     0.4  
Fair Value Hedges | Other Expense, Net | Designated as Hedging Instrument | Foreign Exchange Contract        
Derivative Instruments Gain Loss [Line Items]        
Reclassification from AOCI related to early termination of firm commitment     (0.4)  
Net settlement related to early termination of forward contracts     $ 0.3