XML 44 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value of Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Fair Value By Balance Sheet Grouping | The estimated fair value of financial instruments at September 30, 2021 was as follows:
|  |  | Fair Value Measurements at Reporting Date Using
(In millions) | Total Carrying Amount |  | Total Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2)
Cash and cash equivalents | $ | 1,006.8 |  |  | $ | 1,006.8 |  |  | $ | 1,006.8 |  |  | $ | — |
Derivative financial instruments: |  |  |  |  |  |  |
Assets | 12.2 |  |  | 12.2 |  |  | — |  |  | 12.2 |
Liabilities | 3.6 |  |  | 3.6 |  |  | — |  |  | 3.6 |
Debt (a) | 2,313.3 |  |  | 2,558.7 |  |  | 2,296.0 |  |  | 262.7 |
The estimated fair value of financial instruments at December 31, 2020 was as follows:
|  |  | Fair Value Measurements at Reporting Date Using
(In millions) | Total Carrying Amount |  | Total Estimated Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Observable Inputs (Level 2)
Cash and cash equivalents | $ | 645.9 |  |  | $ | 645.9 |  |  | $ | 645.9 |  |  | $ | — |
Derivative financial instruments: |  |  |  |  |  |  |
Assets | 4.8 |  |  | 4.8 |  |  | — |  |  | 4.8 |
Liabilities | 4.0 |  |  | 4.0 |  |  | — |  |  | 4.0 |
Debt (a) | 1,629.1 |  |  | 1,847.7 |  |  | 1,594.2 |  |  | 253.5 |
(a)The total carrying amount for debt for both periods excludes debt issuance costs related to the recognized debt liability which is presented in the consolidated balance sheet as a direct reduction from the carrying amount of the debt liability. The December 31, 2020 debt carrying value includes $46.8 million for the unamortized balance of the portion of the 2025 Convertible Notes recorded in stockholders’ equity due to the flexible settlement feature of the notes. Effective January 1, 2021, ATI early-adopted new accounting guidance that eliminated the equity component classification of the embedded conversion option of the 2025 Convertible Notes (see Note 1).

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration