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Derivatives, Hedging Programs and Other Financial Instruments - Summary of (Gain) Loss Associated with Derivative Contracts (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Derivative Instruments Gain Loss [Line Items]        
Total of income and expense line items presented in our Statements of Consolidated (Loss)Income in which the effects of cash flow hedges are recorded $ 677.8 $ 208.4 $ 1,613.6 $ 719.5
Total of income and expense line items presented in our Statements of Consolidated (Loss) Income in which the effects of fair value hedges are recorded 24.9 12.9 64.2 39.1
Total of income and expense line items presented in our Statements of Consolidated (Loss) Income in which the effects of fair value hedges are recorded (1.2) (0.5) (38.2) (0.8)
Cost of Products Sold | Not Designated as Hedging Instrument        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income 0.7 (1.5) (1.8) (0.1)
Cost of Products Sold | Not Designated as Hedging Instrument | Alloying Metals        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income (1.2) 0.3 (3.8) 1.7
(Gain) loss recognized in our Statements of Consolidated (Loss)Income Unrealized Loss (Gain) 1.9 (1.8) 2.0 (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 (Loss)Income in which the effects of cash flow hedges are recorded 677.8 208.4 1,613.6 719.5
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income (16.7) 1.6 (28.1) 19.2
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Electricity        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income (2.6)   (3.3) 0.6
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Aluminum        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income (13.3) 1.2 (24.3) 14.5
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Alloying Metals        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income (0.2)   0.2 2.1
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Natural Gas        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)Income $ (0.6) 0.3 $ (0.7) 1.2
Cash Flow Hedges | Cost of Products Sold | 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 (Loss) Income in which the effects of fair value hedges are recorded   12.9   39.1
Total of income and expense line items presented in our Statements of Consolidated (Loss) Income in which the effects of fair value hedges are recorded   $ (0.5)   (0.8)
Fair Value Hedges | Designated as Hedging Instrument | Foreign Exchange Contract        
Derivative Instruments Gain Loss [Line Items]        
(Gain) loss recognized in our Statements of Consolidated (Loss)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