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v3.19.3.a.u2

Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Schedule of sales by segment |
(In millions) |  | 2019 |  | 2018 |  | 2017
Total sales: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 2,501.9 |  |  | $ | 2,413.6 |  |  | $ | 2,127.0 |
Flat Rolled Products |  | 1,820.9 |  |  | 1,799.0 |  |  | 1,527.5 |
Total sales |  | 4,322.8 |  |  | 4,212.6 |  |  | 3,654.5 |
Intersegment sales: |  |  |  |  |  |
High Performance Materials & Components |  | 103.8 |  |  | 79.4 |  |  | 59.6 |
Flat Rolled Products |  | 96.5 |  |  | 86.6 |  |  | 69.8 |
Total intersegment sales |  | 200.3 |  |  | 166.0 |  |  | 129.4 |
Sales to external customers: |  |  |  |  |  |
High Performance Materials & Components |  | 2,398.1 |  |  | 2,334.2 |  |  | 2,067.4 |
Flat Rolled Products |  | 1,724.4 |  |  | 1,712.4 |  |  | 1,457.7 |
Total sales to external customers |  | $ | 4,122.5 |  |  | $ | 4,046.6 |  |  | $ | 3,525.1 |
Schedule of operating profit (loss) by segment |
(In millions) |  | 2019 |  | 2018 |  | 2017
Operating profit: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 343.1 |  |  | $ | 335.4 |  |  | $ | 246.4 |
Flat Rolled Products |  | 37.6 |  |  | 77.8 |  |  | 37.0 |
Total operating profit |  | 380.7 |  |  | 413.2 |  |  | 283.4 |
LIFO and net realizable value reserves (See Note 3) |  | (0.1 | ) |  | (0.7 | ) |  | (0.2 | )
Corporate expenses |  | (66.8 | ) |  | (58.1 | ) |  | (50.5 | )
Closed operations and other expenses |  | (25.5 | ) |  | (21.6 | ) |  | (34.0 | )
Restructuring and other charges |  | (4.5 | ) |  | — |  |  | — |
Impairment of goodwill (See Note 5) |  | — |  |  | — |  |  | (114.4 | )
Debt extinguishment charge (See Note 10) |  | (21.6 | ) |  | — |  |  | (37.0 | )
Gain on joint venture deconsolidation (See Note 7) |  | — |  |  | 15.9 |  |  | — |
Joint venture impairment charge (See Note 7) |  | (11.4 | ) |  | — |  |  | — |
Gain on asset sales, net |  | 89.8 |  |  | — |  |  | — |
Interest expense, net |  | (99.0 | ) |  | (101.0 | ) |  | (133.8 | )
Income (loss) before income taxes |  | $ | 241.6 |  |  | $ | 247.7 |  |  | $ | (86.5 | )
Schedule of other financial information by segment | Certain additional information regarding the Company’s business segments is presented below:
(In millions) |  | 2019 |  | 2018 |  | 2017
Depreciation and amortization: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 99.1 |  |  | $ | 106.5 |  |  | $ | 109.3 |
Flat Rolled Products |  | 49.1 |  |  | 47.0 |  |  | 45.6 |
Corporate |  | 2.9 |  |  | 2.9 |  |  | 5.9 |
Total depreciation and amortization |  | $ | 151.1 |  |  | $ | 156.4 |  |  | $ | 160.8 |
Capital expenditures: |  |  |  |  |  |
High Performance Materials & Components |  | $ | 132.5 |  |  | $ | 79.8 |  |  | $ | 62.7 |
Flat Rolled Products |  | 34.8 |  |  | 56.4 |  |  | 59.1 |
Corporate |  | 0.9 |  |  | 3.0 |  |  | 0.9 |
Total capital expenditures |  | $ | 168.2 |  |  | $ | 139.2 |  |  | $ | 122.7 |
Identifiable assets: |  | 2019 |  | 2018 |  | 2017
High Performance Materials & Components |  | $ | 2,689.9 |  |  | $ | 2,765.4 |  |  | $ | 2,662.3 |
Flat Rolled Products |  | 2,255.8 |  |  | 2,225.7 |  |  | 2,218.4 |
Discontinued Operations |  | — |  |  | — |  |  | 0.2 |
Corporate: |  |  |  |  |  |
Deferred Taxes |  | 64.5 |  |  | 8.7 |  |  | 7.6 |
Cash and cash equivalents and other |  | 624.4 |  |  | 502.0 |  |  | 296.9 |
Total assets |  | $ | 5,634.6 |  |  | $ | 5,501.8 |  |  | $ | 5,185.4 |
Schedule of company assets by country |
($ in millions) |  | 2019 |  | Percent of total |  | 2018 |  | Percent of total |  | 2017 |  | Percent of total
Total assets: |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 4,956.4 |  |  | 88 | % |  | $ | 4,859.1 |  |  | 88 | % |  | $ | 4,547.7 |  |  | 88 | %
China |  | 288.1 |  |  | 5 | % |  | 287.3 |  |  | 5 | % |  | 276.0 |  |  | 5 | %
United Kingdom |  | 141.3 |  |  | 3 | % |  | 136.7 |  |  | 3 | % |  | 122.7 |  |  | 2 | %
Other |  | 248.8 |  |  | 4 | % |  | 218.7 |  |  | 4 | % |  | 239.0 |  |  | 5 | %
Total Assets |  | $ | 5,634.6 |  |  | 100 | % |  | $ | 5,501.8 |  |  | 100 | % |  | $ | 5,185.4 |  |  | 100 | %

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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