Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2015

Financial Instruments and Risk Management

Schedule of fair value of derivative instruments

	December 31, 2015						December 31, 2014
($ in millions)	Derivatives Designated as Hedging Instruments		Derivatives not Designated as Hedging Instruments		Total		Derivatives Designated as Hedging Instruments		Derivatives not Designated as Hedging Instruments		Total
Assets:
Commodity contracts	$	6.0	$	4.0	$	10.0	$	3.8	$	1.3	$	5.1
Foreign currency contracts	1.9		5.6		7.5		0.8		3.5		4.3
Other contracts	—		2.9		2.9		—		—		—
Total current derivative contracts	$	7.9	$	12.5	$	20.4	$	4.6	$	4.8	$	9.4
Commodity contracts	$	1.0	$	—	$	1.0	$	2.2	$	0.5	$	2.7
Foreign currency contracts	0.2		—		0.2		—		—		—
Interest rate contracts	—		2.1		2.1		0.4		—		0.4
Total noncurrent derivative contracts	$	1.2	$	2.1	$	3.3	$	2.6	$	0.5	$	3.1
Liabilities:
Commodity contracts	$	11.8	$	5.1	$	16.9	$	6.9	$	1.6	$	8.5
Foreign currency contracts	—		33.0		33.0		1.6		1.3		2.9
Interest rate and other contracts	0.6		—		0.6		0.5		0.4		0.9
Total current derivative contracts	$	12.4	$	38.1	$	50.5	$	9.0	$	3.3	$	12.3
Commodity contracts	$	7.9	$	—	$	7.9	$	6.8	$	0.5	$	7.3
Interest rate contracts	0.1		23.3		23.4		0.3		—		0.3
Total noncurrent derivative contracts	$	8.0	$	23.3	$	31.3	$	7.1	$	0.5	$	7.6

Schedule of impact on earnings from derivative instruments

		Years Ended December 31,
		2015						2014						2013
($ in millions)	Location of Gain (Loss) Recognized in Earnings on Derivatives	Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss) - Gain (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments			Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss) - Gain (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments			Cash Flow Hedge - Reclassified Amount from Other Comprehensive Earnings (Loss) - Gain (Loss)			Gain (Loss) on Derivatives not Designated as Hedge Instruments
Commodity contracts - manage exposure to customer pricing	Net sales	$	5.4		$	1.2		$	(6.3	)	$	3.1		$	8.4		$	0.2
Commodity contracts - manage exposure to supplier pricing	Cost of sales	(23.5		)	(4.8		)	(27.3		)	1.3			(35.3		)	(3.1		)
Interest rate contracts - manage exposure for outstanding debt	Interest expense	(0.1		)	—			—			—			(1.0		)	—
Interest rate contracts - manage exposure for forecasted Rexam financing	Debt refinancing and other costs	—			(15.9		)	—			—			—			—
Foreign currency contracts - manage exposure to sales of products	Cost of sales	(0.2		)	2.2			0.2			(1.0		)	(0.6		)	(0.1		)
Foreign currency contracts - manage exposure for transactions between segments	Selling, general and administrative	1.7			(7.3		)	—			(24.0		)	—			7.4
Foreign currency contracts - manage exposure for proposed acquisition of Rexam	Business consolidation and other activities	—			(41.0		)	—			—			—			—
Cross currency swaps - manage exposure for proposed acquisition of Rexam	Business consolidation and other activities	—			(7.4		)	—			—			—			—
Equity and inflation contracts	Selling, general and administrative	—			3.9			—			(2.6		)	—			0.6
Total		$	(16.7	)	$	(69.1	)	$	(33.4	)	$	(23.2	)	$	(28.5	)	$	5.0

Schedule of changes in accumulated other comprehensive earnings (loss) for effective derivatives

	Years Ended December 31,
($ in millions)	2015			2014			2013
Amounts reclassified into earnings:
Commodity contracts	$	18.1		$	33.6		$	26.9
Interest rate contracts	0.1			—			1.0
Currency exchange contracts	(1.5		)	(0.2		)	0.6
Change in fair value of cash flow hedges:
Commodity contracts	(29.5		)	4.1			(61.6		)
Interest rate contracts	(0.2		)	(0.3		)	0.3
Currency exchange contracts	3.8			0.7			2.2
Foreign currency and tax impacts	1.5			(2.9		)	0.7
	$	(7.7	)	$	35.0		$	(29.9	)