XML 35 R30.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Supplementary Financial Statement Information (Tables)
 12 Months Ended
Dec. 31, 2019
Restructuring Plan [Line Items]  
Disaggregation of Revenue
Net sales by market are presented below:
 
2019
 
2018
 
2017
Automotive
$
4,172.2

 
$
4,284.7

 
$
3,951.5

Infrastructure and Manufacturing
1,006.0

 
1,049.1

 
948.0

Distributors and Converters
1,181.2

 
1,484.4

 
1,181.0

Total
$
6,359.4

 
$
6,818.2

 
$
6,080.5


Net sales by product line are presented below:
 
2019
 
2018
 
2017
Carbon steel
$
4,143.6

 
$
4,409.1

 
$
4,034.5

Stainless and electrical steel
1,617.5

 
1,793.8

 
1,687.6

Tubular products, components and other
598.3

 
615.3

 
358.4

Total
$
6,359.4

 
$
6,818.2

 
$
6,080.5
Allowance for credit losses
Changes in the allowance for credit losses for the years ended December 31, 2019, 2018 and 2017, are presented below:
 
2019
 
2018
 
2017
Balance at beginning of year
$
6.6

 
$
6.8

 
$
7.8

Increase (decrease) in allowance
(1.6
)
 
0.3

 
(1.0
)
Receivables written off
(0.7
)
 
(0.5
)
 
—

Balance at end of year
$
4.3

 
$
6.6

 
$
6.8
Inventory
Inventories as of December 31, 2019 and 2018, consist of:
 
2019
 
2018
Finished and semi-finished
$
971.4

 
$
1,054.4

Raw materials
374.8

 
365.5

Inventory
$
1,346.2

 
$
1,419.9
Property, plant and equipment
Property, plant and equipment as of December 31, 2019 and 2018, consist of:
 
2019
 
2018
Land, land improvements and leaseholds
$
271.2

 
$
272.1

Buildings
514.8

 
509.7

Machinery and equipment
6,213.6

 
6,061.6

Construction in progress
169.3

 
125.8

Total
7,168.9

 
6,969.2

Less accumulated depreciation
(5,237.0
)
 
(5,057.6
)
Property, plant and equipment, net
$
1,931.9

 
$
1,911.6
Goodwill
Changes in goodwill for the years ended December 31, 2019, 2018 and 2017 are presented below:
 
2019
 
2018
 
2017
Balance at beginning of year
$
255.0

 
$
253.8

 
$
32.8

Acquisition
0.5

 
1.2

 
221.0

Balance at end of year
$
255.5

 
$
255.0

 
$
253.8
Intangible assets
Intangible assets at December 31, 2019 and 2018, consist of:
 
Gross Amount
 
Accumulated Amortization
 
Net Amount
As of December 31, 2019
 
 
 
 
 
Customer relationships
$
36.6

 
$
(12.5
)
 
$
24.1

Technology
23.0

 
(9.2
)
 
13.8

Intangible assets
$
59.6

 
$
(21.7
)
 
$
37.9

 
 
 
 
 
 
As of December 31, 2018
 
 
 
 
 
Customer relationships
$
36.6

 
$
(7.4
)
 
$
29.2

Technology
19.3

 
(4.6
)
 
14.7

Intangible assets
$
55.9

 
$
(12.0
)
 
$
43.9
Other non-current assets
Other non-current assets as of December 31, 2019 and 2018, consist of:
 
2019
 
2018
Operating lease assets
$
244.5

 
$
—

Investments in affiliates
79.5

 
80.5

Other
21.0

 
23.4

Other non-current assets
$
345.0

 
$
103.9
Accrued liabilities
Accrued liabilities as of December 31, 2019 and 2018, consist of:
 
2019
 
2018
Salaries, wages and benefits
$
83.0

 
$
127.8

Current portion of operating lease liabilities
49.6

 
—

Interest
33.8

 
34.8

Other
148.0

 
126.3

Accrued liabilities
$
314.4

 
$
288.9
Ashland Works Hot End [Member]  
Restructuring Plan [Line Items]  
Restructuring plans
In the fourth quarter of 2015, we temporarily idled the Ashland Works Hot End. We incurred charges in the fourth quarter of 2015 for supplemental unemployment and other employee benefit costs that were recorded as accrued liabilities, and the activity for the years ended December 31, 2018, and 2017 was as follows:
 
 
2018
 
2017
Balance at beginning of year
 
$
1.5

 
$
6.2

Payments
 
(1.5
)
 
(5.3
)
Additions to the reserve
 
—

 
0.6

Balance at end of year
 
$
—

 
$
1.5
Ashland Works [Member]  
Restructuring Plan [Line Items]  
Restructuring plans
The supplemental unemployment and other employee benefit costs were recorded as accrued and other non-current liabilities, and the activity for the year ended December 31, 2019, was as follows:
 
 
2019
Charge for supplemental unemployment and other employee benefit costs
 
$
20.1

Payments
 
(1.0
)
Balance at end of year
 
$
19.1