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Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.10.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
12 Months Ended
Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] Ìý
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
The following table presents the fair value of our derivative instruments and the classification of each in the Statements of Consolidated Financial Position:
Ìý
(In Millions)
Ìý
Derivative Assets
Ìý
Derivative Liabilities
Ìý
DecemberÌý31, 2018
Ìý
DecemberÌý31, 2017
Ìý
DecemberÌý31, 2018
Ìý
DecemberÌý31, 2017
Derivative Instrument
Balance Sheet Location
Ìý
Fair
Value
Ìý
Balance
Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Derivatives designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Commodity contracts
Derivative assets
Ìý
$
0.1

Ìý
Ìý
Ìý
$
—

Ìý
Other current liabilities
Ìý
$
3.7

Ìý
Other current liabilities
Ìý
$
0.3

Derivatives not designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Customer supply agreement
Derivative assets
Ìý
89.3

Ìý
Derivative assets
Ìý
37.9

Ìý
Ìý
Ìý
—

Ìý
Ìý
Ìý
—

Provisional pricing arrangements
Derivative assets
Ìý
2.1

Ìý
Ìý
Ìý
—

Ìý
Ìý
Ìý
—

Ìý
Other current liabilities
Ìý
1.7

Total derivatives not designated as hedging instruments under ASC 815:
Ìý
Ìý
$
91.4

Ìý
Ìý
Ìý
$
37.9

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
1.7

Total derivatives
Ìý
Ìý
$
91.5

Ìý
Ìý
Ìý
$
37.9

Ìý
Ìý
Ìý
$
3.7

Ìý
Ìý
Ìý
$
2.0

Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table presents our outstanding hedge contracts:
Ìý
(Quantities in Millions)
Ìý
December 31, 2018
Ìý
December 31, 2017
Ìý
Notional Amount
Ìý
Unit of Measure
Ìý
Varying Maturity Dates
Ìý
Notional Amount
Ìý
Unit of Measure
Ìý
Varying Maturity Dates
Natural gas
1.8
Ìý
MMBtu
Ìý
January 2019 - August 2019
Ìý
3.5
Ìý
MMBtu
Ìý
January 2018 - November 2018
Diesel
11.0
Ìý
Gallons
Ìý
January 2019 - December 2019
Ìý
—
Ìý
Ìý
Ìý
Ìý
Schedule Of Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance Location Table
The following summarizes the effect of our derivatives that are not designated as hedging instruments in the Statements of Consolidated Operations:
(In Millions)
Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in
Income on Derivative
Year Ended
December 31,
Ìý
Ìý
2018
Ìý
2017
Ìý
2016
Customer supply agreements
Product revenues
$
425.8

Ìý
$
163.3

Ìý
$
41.7

Provisional pricing arrangements
Product revenues
(3.2
)
Ìý
(42.7
)
Ìý
14.2

Commodity contracts
Cost of goods sold and operating expenses
—

Ìý
(1.3
)
Ìý
1.9

Total
Ìý
$
422.6

Ìý
$
119.3

Ìý
$
57.8