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Derivatives (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives not designated as hedging instruments The following table sets forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of March 31, 2022 and December 31, 2021, respectively:
 Asset Fair Value
March 31, 2022December 31, 2021
Commodity contracts (1)
$84.7 $42.9 
Foreign exchange contracts (2)
— — 
Total$84.7 $42.9 

 Liability Fair Value
March 31, 2022December 31, 2021
Commodity contracts (1)
$220.0 $143.3 
Foreign exchange contracts (2)
3.5 2.9 
Total$223.5 $146.2 

(1) Commodity contracts reflect our outstanding LME forward financial sales contracts, MWP forward financial sales contracts, fixed for floating swaps, Nord Pool power price swaps, and Indiana Hub power price swaps. At March 31, 2022, $37.9 million of Due to affiliates and $52.9 million of Due to affiliates - less current portion was related to commodity contract liabilities with Glencore. At December 31, 2021, $17.1 million of Due to affiliates, and $21.9 million of Due to affiliates - less current portion was related to commodity contract assets and liabilities with Glencore.
(2) Foreign exchange contracts reflect our outstanding FX swaps.
Schedule of derivative instruments
The following table summarizes the net (loss) gain on forward and derivative contracts:
Three months ended March 31,
20222021
Commodity contracts(1)
$(56.0)$(96.0)
Foreign exchange contracts(1.0)(2.1)
   Total$(57.0)$(98.1)
(1) For the three months ended March 31, 2022 and 2021, there were $58.9 million and $20.3 million of the net losses, respectively, with Glencore.