Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Derivative Contracts (Tables)

v3.19.1
Note 12 - Derivative Contracts (Tables)
3 Months Ended
Mar. 31, 2019
Notes Tables  
Schedule of Derivative Instruments [Table Text Block]
   
As of
(in millions)
 
March 31, 2019
 
December 31, 2018
Cash flow hedge:
 
 
 
 
 
 
 
 
Interest rate swap
  $
150.0
 
  $
150.0
 
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
Metal
   
7.8
 
   
27.9
 
Energy and utilities
   
4.2
 
   
3.0
 
Total
  $
162.0
 
  $
180.9
 
   
As of
(in millions)
 
March 31, 2019
 
December 31, 2018
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
Notional amount - long
  $
50.5
 
  $
67.4
 
Notional amount - (short)
   
(38.5
)
   
(36.5
)
Net long / (short)
  $
12.0
 
  $
30.9
 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]
   
As of March 31, 2019
(in millions)
 
Gross Amounts of Recognized Assets
 
Gross Amounts
Offset in Consolidated
Balance Sheet
 
Net Amounts of
Assets Presented in Consolidated
Balance Sheet
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
 
 
 
 
Metal
  $
3.0
 
  $
(1.2
)
  $
1.8
 
Energy and utilities
   
0.2
 
   
(0.2
)
   
-
 
Collateral on deposit
   
0.1
 
   
-
 
   
0.1
 
Total
  $
3.3
 
  $
(1.4
)
  $
1.9
 
Consolidated balance sheet location:
                       
Prepaid expenses and other current assets
   
 
 
   
 
 
  $
1.9
 
   
As of March 31, 2019
(in millions)
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts
Offset in Consolidated Balance Sheet
 
Net Amounts of
Liabilities Presented in Consolidated
Balance Sheet
Cash flow hedge:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap
  $
3.6
 
  $
-
 
  $
3.6
 
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
 
 
 
 
Metal
   
1.2
 
   
(1.2
)
   
-
 
Energy and utilities
   
0.2
 
   
(0.2
)
   
-
 
Total
  $
5.0
 
  $
(1.4
)
  $
3.6
 
Consolidated balance sheet location:
                       
Other noncurrent liabilities
   
 
 
   
 
 
  $
3.6
 
   
As of December 31, 2018
(in millions)
 
Gross Amounts of Recognized Assets
 
Gross Amounts
Offset in Consolidated Balance Sheet
 
Net Amounts of
Assets Presented in Consolidated
Balance Sheet
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
 
 
 
 
Metal
  $
3.3
 
  $
(3.3
)
  $
-
 
Energy and utilities
   
0.1
 
   
(0.1
)
   
-
 
Collateral on deposit
   
0.1
 
   
(0.1
)
   
-
 
Total
  $
3.5
 
  $
(3.5
)
  $
-
 
   
As of December 31, 2018
(in millions)
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts
Offset in Consolidated Balance Sheet
 
Net Amounts of
Liabilities Presented in Consolidated
Balance Sheet
Cash flow hedge:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap
  $
2.0
 
  $
-
 
  $
2.0
 
Commodity and energy derivative contracts:
 
 
 
 
 
 
 
 
 
 
 
 
Metal
   
4.2
 
   
(3.4
)
   
0.8
 
Energy and utilities
   
0.3
 
   
(0.1
)
   
0.2
 
Total
  $
6.5
 
  $
(3.5
)
  $
3.0
 
Consolidated balance sheet location:
                       
Accrued liabilities
   
 
 
   
 
 
  $
0.9
 
Other noncurrent liabilities
   
 
 
   
 
 
  $
2.1
 
   
Three Months Ended March 31,
 
(in millions)
 
2019
   
2018
 
Cash flow hedge gains (losses) in other comprehensive income (loss) for:
 
 
 
 
 
 
 
 
Interest rate swap
  $
(1.6
)   $
-
 
Commodity and energy derivative contracts (gains) losses in cost of sales for:
 
 
 
 
 
 
 
 
Metal
  $
(2.8
)   $
1.9
 
Energy and utilities
   
(0.2
)    
-
 
Total commodity derivative contract (gains) losses in cost of sales
  $
(3.0
)   $
1.9