XML 84 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Derivative Financial Instruments and Hedging (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments |
(in millions): |  |  |  | December 31, 2013 |  | December 31, 2012
Asset derivatives |  | Balance sheet location |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other current assets |  | $ | 0.3 |  |  | $ | 2.9 |
Nickel and other raw material contracts |  | Prepaid expenses and other current assets |  | 0.1 |  |  | 0.6 |
Natural gas contracts |  | Prepaid expenses and other current assets |  | 2.5 |  |  | 0.4 |
Foreign exchange contracts |  | Other assets |  | — |  |  | 0.9 |
Natural gas contracts |  | Other assets |  | 1.0 |  |  | 0.7 |
Nickel and other raw material contracts |  | Other assets |  | 0.4 |  |  | 0.3 |
Total derivatives designated as hedging instruments: |  |  |  | 4.3 |  |  | 5.8 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid expenses and other current assets |  | — |  |  | 0.4 |
Total derivatives not designated as hedging instruments: |  | — |  |  | 0.4 |
Total asset derivatives |  |  |  | $ | 4.3 |  |  | $ | 6.2 |
Liability derivatives |  | Balance sheet location |  |  |  |
Derivatives designated as hedging instruments: |  |  |  |  |  |
Natural gas contracts |  | Accrued liabilities |  | $ | 0.4 |  |  | $ | 4.4 |
Foreign exchange contracts |  | Accrued liabilities |  | 7.8 |  |  | 1.7 |
Nickel and other raw material contracts |  | Accrued liabilities |  | 4.5 |  |  | 1.1 |
Electricity contracts |  | Accrued liabilities |  | 0.5 |  |  | 0.3 |
Foreign exchange contracts |  | Other long-term liabilities |  | 5.4 |  |  | 1.4 |
Natural gas contracts |  | Other long-term liabilities |  | — |  |  | 0.6 |
Electricity contracts |  | Other long-term liabilities |  | — |  |  | 0.4 |
Nickel and other raw material contracts |  | Other long-term liabilities |  | 1.3 |  |  | 0.3 |
Total liability derivatives |  |  |  | $ | 19.9 |  |  | $ | 10.2 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |
Foreign exchange contracts |  | Accrued liabilities |  | 1.7 |  |  | 1.6 |
Total derivatives not designated as hedging instruments: |  | 1.7 |  |  | 1.6 |
Total liability derivatives |  |  |  | $ | 21.6 |  |  | $ | 11.8 |
Schedule of derivative instruments gain (loss) | Activity with regard to derivatives designated as cash flow hedges for the year ended December 31, 2013 were as follows (in millions):
Derivatives in Cash Flow Hedging Relationships |  | Amount of Gain (Loss) Recognized in OCI on Derivatives (Effective Portion) |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (a) |  | Amount of Gain (Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) (b)
| 2013 |  | 2012 |  | 2013 |  | 2012 |  | 2013 |  | 2012
Nickel and other raw material contracts |  | $ | (8.4 | ) |  | $ | (3.6 | ) |  | $ | (5.4 | ) |  | $ | (3.4 | ) |  | $ | — |  |  | $ | — |
Natural gas contracts |  | 2.1 |  |  | (2.4 | ) |  | (2.3 | ) |  | (8.1 | ) |  | — |  |  | — |
Electricity contracts |  | (0.1 | ) |  | (1.0 | ) |  | (0.2 | ) |  | (1.8 | ) |  | — |  |  | — |
Foreign exchange contracts |  | (9.1 | ) |  | 1.0 |  |  | (0.7 | ) |  | 10.1 |  |  | — |  |  | — |
Total |  | $ | (15.5 | ) |  | $ | (6.0 | ) |  | $ | (8.6 | ) |  | $ | (3.2 | ) |  | $ | — |  |  | $ | — |
(a) | The gains (losses) reclassified from accumulated OCI into income related to the effective portion of the derivatives are presented in cost of sales.
(b) | The gains (losses) recognized in income on derivatives related to the ineffective portion and the amount excluded from effectiveness testing are presented in selling and administrative expenses.
Schedule of derivatives not designated as hedging instruments, gain (loss) | Derivatives that are not designated as hedging instruments were as follows:
(In millions) |  | Amount of Gain (Loss) Recognized in Income on Derivatives
Derivatives Not Designated as Hedging Instruments |  | 2013 |  | 2012
Foreign exchange contracts |  | $ | (0.3 | ) |  | $ | (3.5 | )

X
- Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 205G -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 44C -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for other derivative instruments not designated as hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration