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Derivatives | 12 Months Ended
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Dec. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments and Hedging Activities Disclosure [Text Block] |
3. | DERIVATIVES AND RISK MANAGEMENT
DERIVATIVE FINANCIAL INSTRUMENTS In the normal course of business, we are exposed to market risk associated with changes in foreign currency exchange rates and interest rates. To manage a portion of these inherent risks, we may purchase certain types of derivative financial instruments based on management's judgment of the trade-off between risk, opportunity and cost. We do not hold or issue derivative financial instruments for trading or speculative purposes. The ineffective portion of any hedge is included in current earnings. The impact of hedge ineffectiveness was not significant in any of the periods presented. CURRENCY FORWARD CONTRACTS From time to time, we use foreign currency forward contracts to reduce the effects of fluctuations in exchange rates, primarily relating to the Mexican Peso, Euro, Pound Sterling, Thai Baht, Swedish Krona and Polish Zloty. We had forward contracts with a notional amount of $190.0 million and $99.3 million outstanding at December 31, 2015 and 2014, respectively, that hedge our exposure to changes in foreign currency exchange rates for certain payroll expenses through June 2018 and certain direct and indirect inventory and other working capital items through December 2016. The following table summarizes the reclassification of pre-tax derivative gains (losses) into net income from accumulated other comprehensive income (loss) for those derivative instruments designated as hedging instruments under Accounting Standards Codification 815 - Derivatives and Hedging (ASC 815):
| Location of Gain (Loss) Reclassified into Net Income |  | Gain (Loss) Reclassified During the Twelve Months Ended December 31, |  | Loss Expected to be Reclassified During the Next 12 Months
| 2015 |  | 2014 |  | 2013 |
|  |  | (in millions)
Currency forward contracts | Cost of Goods Sold |  | $ | (10.9 | ) |  | $ | 0.9 |  |  | $ | 2.8 |  |  | $ | (7.5 | )
See Note 10 - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) for amounts recognized in other comprehensive income (loss) during the years ended December 31, 2015, December 31, 2014 and December 31, 2013. The following table summarizes the amount and location of gains (losses) recognized in the Consolidated Statement of Income for those derivative instruments not designated as hedging instruments under ASC 815:
| Location of Gain (Loss) Reclassified into Net Income |  | Gain (Loss) Recognized During the Twelve Months Ended December 31,
| 2015 |  | 2014 |  | 2013
|  |  | (in millions)
Currency forward contracts | Cost of Goods Sold |  | $ | (4.0 | ) |  | $ | (1.8 | ) |  | $ | 0.1 |
Currency forward contracts | Other Income (Expense), Net |  | (1.6 | ) |  | — |  |  | — |
CONCENTRATIONS OF CREDIT RISK In the normal course of business, we provide credit to customers. We periodically evaluate the creditworthiness of our customers and we maintain reserves for potential credit losses. Sales to GM were approximately 66% of our consolidated net sales in 2015, 68% in 2014, and 71% in 2013. Accounts and other receivables due from GM were $361.1 million at year-end 2015 and $343.1 million at year-end 2014. Sales to FCA US LLC (FCA), were approximately 20% of our consolidated net sales in 2015, 18% in 2014 and 12% in 2013. Accounts receivable due from FCA were $96.8 million at year-end 2015 and $99.3 million at year-end 2014. No other single customer accounted for more than 10% of our consolidated net sales in any year presented. In addition, our total GM postretirement cost sharing asset was $256.3 million as of December 31, 2015 and $287.8 million as of December 31, 2014. See Note 5 - Employee Benefit Plans for more detail on this cost sharing asset. We diversify the concentration of invested cash and cash equivalents among different financial institutions and we monitor the selection of counterparties to other financial instruments to avoid unnecessary concentrations of credit risk.

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