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Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS (Tables)

v3.20.2
DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2020
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 Unaudited Condensed Consolidated Financial Position:
Derivatives designated as hedging instruments under Topic 815: Derivatives not designated as hedging instruments under Topic 815:
Derivative Asset (Liability) September 30,
2020		 December 31,
2019		 September 30,
2020		 December 31,
2019
Other current assets:
Customer supply agreement $ —Ìý $ —Ìý $ 34.5Ìý $ 44.5Ìý
Provisional pricing arrangements —Ìý —Ìý 26.9Ìý 1.3Ìý
Commodity contracts 7.9Ìý —Ìý 7.9Ìý —Ìý
Other non-current assets:
Commodity contracts 1.8Ìý —Ìý —Ìý —Ìý
Other current liabilities:
Provisional pricing arrangements —Ìý —Ìý (0.3) (1.1)
Commodity contracts (1.8) (3.2) (6.9) —Ìý
Foreign exchange contracts (0.6) —Ìý —Ìý —Ìý
Other non-current liabilities:
Foreign exchange contracts (0.1) —Ìý —Ìý —Ìý
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] The following table presents the notional amount of our outstanding hedge contracts:
(In Millions)
September 30, 2020 December 31, 2019
Unit of Measure Maturity Dates Notional Amount Notional Amount
Commodity contracts:
Natural gas MMBtu October 2020 - December 2021 29.7Ìý 20.1Ìý
Diesel Gallons — —Ìý 0.8Ìý
Zinc Pounds October 2020 - December 2021 10.9Ìý —Ìý
Electricity Megawatt hours October 2020 - December 2021 0.8Ìý —Ìý
Foreign exchange contracts:
Canadian dollars CAD October 2020 - December 2021 C$ 38.8Ìý C$ —Ìý
Derivative Instruments, Gain (Loss) [Table Text Block] Estimated gains before tax expected to be reclassified into Cost of goods sold within the next 12 months for our existing derivatives that qualify as cash flow hedges are presented below:
(In Millions)
Hedge: Estimated Gains
Natural gas $ 10.8Ìý
Zinc 2.3Ìý
Electricity 1.1Ìý
Canadian dollars 0.2Ìý
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 Unaudited Condensed Consolidated Operations:
(In Millions)
Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Three Months Ended
September 30,		 Nine Months Ended
September 30,
2020 2019 2020 2019
Customer supply agreements Revenues $ 8.8Ìý $ 7.6Ìý $ 14.4Ìý $ 82.2Ìý
Provisional pricing arrangements Revenues 20.4Ìý (48.5) 28.0Ìý (38.8)
Commodity contracts Cost of goods sold 3.9Ìý —Ìý (0.8) —Ìý
Total $ 33.1Ìý $ (40.9) $ 41.6Ìý $ 43.4Ìý