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Derivatives (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative assets and liabilities at fair value | 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 December 31, 2023 and 2022, respectively:
| Asset Fair Value
| 2023 |  | 2022
Commodity contracts (1) | $ | 2.9 |  |  | $ | 129.1 |
Foreign exchange contracts (2) | — |  |  | — |
Total | $ | 2.9 |  |  | $ | 129.1 |
| Liability Fair Value
| 2023 |  | 2022
Commodity contracts (1) | 7.8 |  |  | 23.7 |
Foreign exchange contracts (2) | 0.1 |  |  | 7.3 |
Total | $ | 7.9 |  |  | $ | 31.0 |
(1)Commodity contracts reflect our outstanding LME forward financial sales contracts, fixed for floating swaps, Nord Pool power price swaps, HFO price swaps and Indiana Hub power price swaps. At December 31, 2023, $6.4 million of Due to affiliates was related to commodity contract liabilities with Glencore. At December 31, 2022, $11.9 million of Due to affiliates, and $8.3 million of Due to affiliates - less current portion was related to commodity contract liabilities with Glencore. (2)Foreign exchange contracts reflect our outstanding FX swaps and casthouse currency hedges.
Schedule of net gain (loss) on forward and derivative contracts | The following table summarizes the net gain (loss) on forward and derivative contracts for the years ended December 31, 2023, 2022, and 2021:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Commodity contracts (1) | $ | 63.5 |  |  | $ | 206.6 |  |  | $ | (208.0) |
Foreign exchange contracts | (1.7) |  |  | (9.4) |  |  | (4.4) |
Total | $ | 61.8 |  |  | $ | 197.2 |  |  | $ | (212.4) |
(1)For the years ended December 31, 2023, 2022, and 2021, $0.6 million, $(13.3) million, and $116.9 million of net gain (loss), respectively, was with Glencore.

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