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Derivative Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding commodity price swaps and options and forward foreign exchange contracts Outstanding commodity price swaps and options and forward foreign exchange contracts are presented below:
Commodity
 
September 30,
2017
 
December 31,
2016
Natural gas (in MMBTUs)
 
37,475,000

 
43,865,000

Zinc (in lbs)
 
40,350,000

 
58,750,000

Iron ore (in metric tons)
 
2,375,000

 
2,555,000

Electricity (in MWHs)
 
1,182,000

 
1,578,821

Foreign exchange contracts:
 
 
 
 
Euros
 
€
9,000,000

 
€
5,000,000

Canadian dollars
 
C$
88,620,000

 
C$
—
Fair value of derivative instruments in the condensed consolidated balance sheets The fair value of derivative instruments in the condensed consolidated balance sheets is presented below:
Asset (liability)
 
September 30,
2017
 
December 31,
2016
Derivatives designated as hedging instruments:
 
 
 
 
Other current assets:
 
 
 
 
Foreign exchange contracts
 
$
0.2

 
$
—

Commodity contracts
 
10.8

 
18.5

Other non-current assets:
 
 
 
 
Foreign exchange contracts
 
0.5

 
—

Commodity contracts
 
2.2

 
5.2

Accrued liabilities:
 
 
 
 
Foreign exchange contracts
 
(0.1
)
 
—

Commodity contracts
 
(1.7
)
 
(1.8
)
Other non-current liabilities—commodity contracts
 
(0.3
)
 
(0.1
)
Derivatives not designated as hedging instruments:
 
 
 
 
Other current assets:
 
 
 
 
Foreign exchange contracts
 
0.4

 
0.1

Commodity contracts
 
16.4

 
28.5

Other non-current assets—commodity contracts
 
2.8

 
10.1

    Accrued liabilities—foreign exchange contracts
 
(0.4
)
 
—

Other non-current liabilities—commodity contracts
 
(0.5
)
 
(0.5
)
Gains (losses) on derivative instruments included in the condensed consolidated statements of operations Gains (losses) on derivative instruments included in the condensed consolidated statements of operations are presented below:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
Gain (loss)
 
2017
 
2016
 
2017
 
2016
Derivatives designated as cash flow hedges—
 
 
 
 
 
 
 
 
Commodity contracts:
 
 
 
 
 
 
 
 
Reclassified from accumulated other comprehensive income into cost of products sold (effective portion)
 
$
1.9

 
$
1.4

 
$
7.2

 
$
(26.3
)
Recognized in cost of products sold (ineffective portion and amount excluded from effectiveness testing)
 
0.3

 
(3.7
)
 
0.8

 
(13.4
)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Foreign exchange contracts—recognized in other income (expense)
 
(0.1
)
 
(0.2
)
 
(0.8
)
 
(1.0
)
Commodity contracts—recognized in cost of products sold
 
3.9

 
3.9

 
11.0

 
3.4
Amount of gains (losses) expected to be reclassified into earnings within the next twelve months Gains (losses) before tax expected to be reclassified into cost of products sold within the next twelve months for our existing derivatives designated as cash flow hedges and thus qualify for hedge accounting, as well as the period over which we are hedging our exposure to the volatility in future cash flows, are presented below:

Hedge
Settlement Dates
 
Gains (losses)
Natural gas
October 2017 to October 2019
 
$
5.4

Zinc
October 2017 to June 2019
 
10.6

Electricity
October 2017 to December 2018
 
(0.4
)
Canadian dollars
January 2018 to December 2019
 
(0.4
)