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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2018
Fair Value Disclosures [Abstract] |
Fair Value, by Balance Sheet Grouping | The following represents the assets and liabilities measured at fair value:
| (In Millions)
| June 30, 2018
Description | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 10.5 |  |  | $ | 546.5 |  |  | $ | — |  |  | $ | 557.0 |
Derivative assets | — |  |  | 0.1 |  |  | 174.6 |  |  | 174.7 |
Total | $ | 10.5 |  |  | $ | 546.6 |  |  | $ | 174.6 |  |  | $ | 731.7 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | 0.1 |  |  | $ | 3.0 |  |  | $ | 3.1 |
Total | $ | — |  |  | $ | 0.1 |  |  | $ | 3.0 |  |  | $ | 3.1 |
| (In Millions)
| December 31, 2017
Description | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 66.3 |  |  | $ | 550.6 |  |  | $ | — |  |  | $ | 616.9 |
Derivative assets | — |  |  | — |  |  | 37.9 |  |  | 37.9 |
Total | $ | 66.3 |  |  | $ | 550.6 |  |  | $ | 37.9 |  |  | $ | 654.8 |
Liabilities: |  |  |  |  |  |  |
Derivative liabilities | $ | — |  |  | $ | 0.3 |  |  | $ | 1.7 |  |  | $ | 2.0 |
Total | $ | — |  |  | $ | 0.3 |  |  | $ | 1.7 |  |  | $ | 2.0 |
Fair Value, Recurring and Nonrecurring, Valuation Techniques | The following table illustrates information about quantitative inputs and assumptions for the assets and liabilities categorized in Level 3 of the fair value hierarchy:
Qualitative/Quantitative Information About Level 3 Fair Value Measurements
|  | (In Millions) Fair Value at June 30, 2018 |  | Balance Sheet Location |  | Valuation Technique |  | Unobservable Input |  | Range or Point Estimate (Weighted Average)
Customer supply agreement |  | $ | 169.4 |  |  | Derivative assets |  | Market Approach |  | Management's Estimate of Market Hot-Rolled Coil Steel per net ton |  | $833
Provisional pricing arrangements |  | $ | 5.2 |  |  | Derivative assets |  | Market Approach |  | Management's Estimate of Platts 62% Price per dry metric ton |  | $68 - $69 ($68)
Provisional pricing arrangements |  | $ | 3.0 |  |  | Other Current Liabilities |  | Market Approach |  | Management's Estimate of Platts 62% Price per dry metric ton |  | $68 - $69 ($68)
Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation | The following tables represent a reconciliation of the changes in fair value of financial instruments measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
| (In Millions)
| Level 3 Assets
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Beginning balance 1 | $ | 93.5 |  |  | $ | 59.2 |  |  | $ | 49.5 |  |  | $ | 30.1 |
Total gains |  |  |  |  |  |  |
Included in earnings | 158.6 |  |  | 51.0 |  |  | 202.8 |  |  | 84.6 |
Settlements | (77.5 | ) |  | (40.0 | ) |  | (77.7 | ) |  | (44.5 | )
Ending balance - June 30 | $ | 174.6 |  |  | $ | 70.2 |  |  | $ | 174.6 |  |  | $ | 70.2 |
Total gains for the period included in earnings attributable to the change in unrealized gains on assets still held at the reporting date | $ | 80.6 |  |  | $ | 17.8 |  |  | $ | 125.1 |  |  | $ | 51.0 |
1 Beginning balance as of January 1, 2018 includes an $11.6 million adjustment for adoption of Topic 606.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation |
| (In Millions)
| Level 3 Liabilities
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2018 |  | 2017 |  | 2018 |  | 2017
Beginning balance | $ | — |  |  | $ | — |  |  | $ | (1.7 | ) |  | $ | — |
Total losses |  |  |  |  |  |  |
Included in earnings | (3.7 | ) |  | (20.2 | ) |  | (4.3 | ) |  | (20.2 | )
Settlements | 0.7 |  |  | — |  |  | 3.0 |  |  | — |
Ending balance - June 30 | $ | (3.0 | ) |  | $ | (20.2 | ) |  | $ | (3.0 | ) |  | $ | (20.2 | )
Total losses for the period included in earnings attributable to the change in unrealized losses on liabilities still held at the reporting date | $ | (3.0 | ) |  | $ | (20.2 | ) |  | $ | (3.0 | ) |  | $ | (20.2 | )
Schedule Of Carrying Value And Fair Value Of Financial Instruments | A summary of the carrying amount and fair value of other financial instruments were as follows:
|  |  | (In Millions)
|  |  | June 30, 2018 |  | December 31, 2017
| Classification |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Long-term debt: |  |  |  |  |  |  |  |  |
Secured Notes |  |  |  |  |  |  |  |  |
$400 Million 4.875% 2024 Senior Notes | Level 1 |  | $ | 391.3 |  |  | $ | 388.5 |  |  | $ | 390.3 |  |  | $ | 398.0 |
Unsecured Notes |  |  |  |  |  |  |  |  |
$400 Million 5.90% 2020 Senior Notes | Level 1 |  | 88.1 |  |  | 88.4 |  |  | 88.6 |  |  | 88.0 |
$500 Million 4.80% 2020 Senior Notes | Level 1 |  | 122.0 |  |  | 120.5 |  |  | 122.0 |  |  | 118.8 |
$700 Million 4.875% 2021 Senior Notes | Level 1 |  | 124.9 |  |  | 124.6 |  |  | 138.0 |  |  | 130.8 |
$316.25 Million 1.50% 2025 Convertible Senior Notes | Level 1 |  | 229.7 |  |  | 384.5 |  |  | 224.1 |  |  | 352.9 |
$1.075 Billion 5.75% 2025 Senior Notes | Level 1 |  | 1,047.1 |  |  | 1,028.6 |  |  | 1,047.2 |  |  | 1,029.3 |
$800 Million 6.25% 2040 Senior Notes | Level 1 |  | 292.7 |  |  | 241.7 |  |  | 292.6 |  |  | 227.1 |
ABL Facility | Level 2 |  | — |  |  | — |  |  | — |  |  | — |
Fair value adjustment to interest rate hedge | Level 2 |  | 1.2 |  |  | 1.2 |  |  | 1.4 |  |  | 1.4 |
Total long-term debt |  |  | $ | 2,297.0 |  |  | $ | 2,378.0 |  |  | $ | 2,304.2 |  |  | $ | 2,346.3 |

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- Definition Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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