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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2013
Segment Reporting [Abstract] |
Summary of financial information by operating segment | The following tables provide financial information by reporting segment for each period or as of each period-end, as applicable:
| Quarter Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Net Sales: |  |  |  |  |  |  |
Fabricated Products | $ | 328.9 |  |  | $ | 345.2 |  |  | $ | 666.3 |  |  | $ | 710.6 |
Segment Operating Income (Loss): |  |  |  |  |  |  |
Fabricated Products 1,2 | $ | 45.0 |  |  | $ | 45.2 |  |  | $ | 100.2 |  |  | $ | 99.2 |
All Other 3 | (4.9 | ) |  | (5.6 | ) |  | (10.1 | ) |  | (13.4 | )
Total operating income | $ | 40.1 |  |  | $ | 39.6 |  |  | $ | 90.1 |  |  | $ | 85.8 |
Interest expense | (9.0 | ) |  | (6.5 | ) |  | (18.3 | ) |  | (10.6 | )
Other income, net | (0.8 | ) |  | 1.1 |  |  | 0.2 |  |  | 1.8 |
Income before income taxes | $ | 30.3 |  |  | $ | 34.2 |  |  | $ | 72.0 |  |  | $ | 77.0 |
Depreciation and Amortization: |  |  |  |  |  |  |
Fabricated Products | $ | 6.9 |  |  | $ | 6.5 |  |  | $ | 13.8 |  |  | $ | 12.7 |
All Other | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Total depreciation and amortization | $ | 7.0 |  |  | $ | 6.6 |  |  | $ | 14.0 |  |  | $ | 12.9 |
Capital expenditures: |  |  |  |  |  |  |
Fabricated Products | $ | 16.5 |  |  | $ | 7.9 |  |  | $ | 25.4 |  |  | $ | 16.7 |
All Other | 0.2 |  |  | — |  |  | 0.6 |  |  | 0.2 |
Total capital expenditures | $ | 16.7 |  |  | $ | 7.9 |  |  | $ | 26.0 |  |  | $ | 16.9 |
Income Taxes Paid: |  |  |  |  |  |  |
Fabricated Products — |  |  |  |  |  |  |
United States | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 0.6 |  |  | $ | 0.1 |
Canada | 0.3 |  |  | 0.2 |  |  | 0.7 |  |  | 0.4 |
Total income taxes paid | $ | 0.6 |  |  | $ | 0.3 |  |  | $ | 1.3 |  |  | $ | 0.5 |
______________________
1. | Operating results in the Fabricated Products segment for the quarters ended June 30, 2013 and June 30, 2012 included net non-cash LIFO benefits of $9.2 and $4.9, respectively. Operating results in the Fabricated Products segment for the six months ended June 30, 2013 and June 30, 2012 included net non-cash LIFO benefits of $12.9 and $7.8, respectively.
2. | Fabricated Products segment results include non-cash mark-to-market losses on primary aluminum, natural gas, electricity and foreign currency hedging activities totaling $4.2 and $0.1 for the quarters ended June 30, 2013 and June 30, 2012, respectively. Non-cash mark-to-market (losses) gains on primary aluminum, natural gas, electricity and foreign currency hedging activities totaled $(4.9) and $3.0 for the six months ended June 30, 2013 and June 30, 2012, respectively. For further discussion regarding mark-to-market matters, see Note 9.
3. | Operating results in All Other represent operating expenses in the Corporate and Other business unit. Operating results of All Other include VEBA net periodic pension benefit income of $5.7 and $3.0 for the quarters ended June 30, 2013 and June 30, 2012, respectively. VEBA net periodic pension benefit income was $11.3 and $6.0 for the six months ended June 30, 2013 and June 30, 2012, respectively.
| June 30, 2013 |  | December 31, 2012
Assets: |  |  |
Fabricated Products | $ | 813.9 |  |  | $ | 771.2 |
All Other 1 | 925.8 |  |  | 981.3 |
Total assets | $ | 1,739.7 |  |  | $ | 1,752.5 |
_____________________
1. | Assets in All Other represent primarily all of the Company’s cash and cash equivalents, short-term investments, financial derivative assets, net assets in respect of VEBA(s) and net deferred income tax assets.
Schedule of net sales by end market segment applications | Net sales by product categories, which are based on end market applications, for the Fabricated Products segment are as follows:
| Quarter Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Net Sales: |  |  |  |  |  |  |
Aero/HS Products | $ | 165.1 |  |  | $ | 170.9 |  |  | $ | 344.7 |  |  | $ | 355.6 |
GE Products | 110.2 |  |  | 113.5 |  |  | 216.0 |  |  | 232.7 |
Automotive Extrusions | 31.0 |  |  | 33.1 |  |  | 61.8 |  |  | 67.5 |
Other Products | 22.6 |  |  | 27.7 |  |  | 43.8 |  |  | 54.8 |
Total Net Sales | $ | 328.9 |  |  | $ | 345.2 |  |  | $ | 666.3 |  |  | $ | 710.6 |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 37 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8736-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8813-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 27, 28 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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