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Guarantor and Non-Guarantor Financial Statements (Tables) | 3 Months Ended
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Mar. 31, 2016
Guarantor and Non-Guarantor Financial Statement [Abstract] |
Schedule of Condensed Financial Statements | CONDENSED CONSOLIDATING BALANCE SHEET (In millions of dollars) March 31, 2016
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 69.1 |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 70.7 |
Short-term investments |  | — |  |  | 10.0 |  |  | — |  |  | — |  |  | 10.0 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade receivables – net |  | — |  |  | 134.0 |  |  | 4.8 |  |  | — |  |  | 138.8 |
Intercompany receivables |  | 93.6 |  |  | 23.1 |  |  | 1.3 |  |  | (118.0 | ) |  | — |
Other |  | — |  |  | 5.9 |  |  | 2.7 |  |  | — |  |  | 8.6 |
Inventories |  | — |  |  | 208.3 |  |  | 5.8 |  |  | (3.5 | ) |  | 210.6 |
Prepaid expenses and other current assets |  | 0.1 |  |  | 8.5 |  |  | 0.8 |  |  | (0.3 | ) |  | 9.1 |
Total current assets |  | 93.7 |  |  | 458.9 |  |  | 17.0 |  |  | (121.8 | ) |  | 447.8 |
Investments in and advances to subsidiaries |  | 912.8 |  |  | 32.0 |  |  | — |  |  | (944.8 | ) |  | — |
Property, plant and equipment – net |  | — |  |  | 473.1 |  |  | 31.4 |  |  | — |  |  | 504.5 |
Long-term intercompany receivables |  | — |  |  | — |  |  | 3.9 |  |  | (3.9 | ) |  | — |
Deferred tax assets – net |  | — |  |  | 190.5 |  |  | — |  |  | 7.0 |  |  | 197.5 |
Intangible assets – net |  | — |  |  | 30.1 |  |  | — |  |  | — |  |  | 30.1 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | — |  |  | 19.4 |  |  | 0.1 |  |  | — |  |  | 19.5 |
Total |  | $ | 1,006.5 |  |  | $ | 1,241.2 |  |  | $ | 52.4 |  |  | $ | (1,063.5 | ) |  | $ | 1,236.6 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 0.6 |  |  | $ | 64.6 |  |  | $ | 5.0 |  |  | $ | — |  |  | $ | 70.2 |
Intercompany payable |  | 17.9 |  |  | 99.3 |  |  | 4.5 |  |  | (121.7 | ) |  | — |
Accrued salaries, wages and related expenses |  | — |  |  | 32.4 |  |  | 1.5 |  |  | — |  |  | 33.9 |
Other accrued liabilities |  | 5.4 |  |  | 51.3 |  |  | 0.2 |  |  | (0.4 | ) |  | 56.5 |
Short-term capital leases |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total current liabilities |  | 23.9 |  |  | 247.7 |  |  | 11.2 |  |  | (122.1 | ) |  | 160.7 |
Net liabilities of Salaried VEBA |  | — |  |  | 18.7 |  |  | — |  |  | — |  |  | 18.7 |
Deferred tax liabilities |  | — |  |  | — |  |  | 2.1 |  |  | — |  |  | 2.1 |
Long-term intercompany payable |  | — |  |  | 3.9 |  |  | — |  |  | (3.9 | ) |  | — |
Long-term liabilities |  | — |  |  | 66.2 |  |  | 6.3 |  |  | — |  |  | 72.5 |
Long-term debt |  | 194.8 |  |  | — |  |  | — |  |  | — |  |  | 194.8 |
Total liabilities |  | 218.7 |  |  | 336.5 |  |  | 19.6 |  |  | (126.0 | ) |  | 448.8 |
Total stockholders' equity |  | 787.8 |  |  | 904.7 |  |  | 32.8 |  |  | (937.5 | ) |  | 787.8 |
Total |  | $ | 1,006.5 |  |  | $ | 1,241.2 |  |  | $ | 52.4 |  |  | $ | (1,063.5 | ) |  | $ | 1,236.6 |
CONDENSED CONSOLIDATING BALANCE SHEET (In millions of dollars) December 31, 2015
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 72.2 |  |  | $ | 0.3 |  |  | $ | — |  |  | $ | 72.5 |
Short-term investments |  | — |  |  | 30.0 |  |  | — |  |  | — |  |  | 30.0 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade receivables – net |  | — |  |  | 114.0 |  |  | 2.7 |  |  | — |  |  | 116.7 |
Intercompany receivables |  | — |  |  | 111.2 |  |  | 1.1 |  |  | (112.3 | ) |  | — |
Other |  | — |  |  | 3.8 |  |  | 2.3 |  |  | — |  |  | 6.1 |
Inventories |  | — |  |  | 216.3 |  |  | 6.6 |  |  | (3.3 | ) |  | 219.6 |
Prepaid expenses and other current assets |  | 0.2 |  |  | 56.2 |  |  | 1.7 |  |  | (1.4 | ) |  | 56.7 |
Total current assets |  | 0.2 |  |  | 603.7 |  |  | 14.7 |  |  | (117.0 | ) |  | 501.6 |
Investments in and advances to subsidiaries |  | 1,077.2 |  |  | 31.4 |  |  | — |  |  | (1,108.6 | ) |  | — |
Property, plant and equipment – net |  | — |  |  | 464.3 |  |  | 31.1 |  |  | — |  |  | 495.4 |
Long-term intercompany receivables |  | — |  |  | — |  |  | 3.1 |  |  | (3.1 | ) |  | — |
Deferred tax assets – net |  | — |  |  | 156.3 |  |  | — |  |  | 7.0 |  |  | 163.3 |
Intangible assets – net |  | — |  |  | 30.5 |  |  | — |  |  | — |  |  | 30.5 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | — |  |  | 19.5 |  |  | 0.1 |  |  | — |  |  | 19.6 |
Total |  | $ | 1,077.4 |  |  | $ | 1,342.9 |  |  | $ | 49.0 |  |  | $ | (1,221.7 | ) |  | $ | 1,247.6 |
LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 0.5 |  |  | $ | 73.6 |  |  | $ | 2.6 |  |  | $ | — |  |  | $ | 76.7 |
Intercompany payable |  | 106.5 |  |  | 14.8 |  |  | 4.0 |  |  | (125.3 | ) |  | — |
Accrued salaries, wages and related expenses |  | — |  |  | 38.3 |  |  | 1.5 |  |  | — |  |  | 39.8 |
Other accrued liabilities |  | 1.4 |  |  | 52.3 |  |  | 0.4 |  |  | (1.4 | ) |  | 52.7 |
Short-term capital leases |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total current liabilities |  | 108.4 |  |  | 179.1 |  |  | 8.5 |  |  | (126.7 | ) |  | 169.3 |
Net liabilities of Salaried VEBA |  | — |  |  | 19.0 |  |  | — |  |  | — |  |  | 19.0 |
Deferred tax liabilities |  | — |  |  | — |  |  | 2.1 |  |  | — |  |  | 2.1 |
Long-term intercompany payable |  | — |  |  | 3.1 |  |  | — |  |  | (3.1 | ) |  | — |
Long-term liabilities |  | — |  |  | 81.3 |  |  | 6.2 |  |  | — |  |  | 87.5 |
Long-term debt |  | 194.6 |  |  | — |  |  | — |  |  | — |  |  | 194.6 |
Total liabilities |  | 303.0 |  |  | 282.5 |  |  | 16.8 |  |  | (129.8 | ) |  | 472.5 |
Total stockholders' equity |  | 774.4 |  |  | 1,060.4 |  |  | 32.2 |  |  | (1,091.9 | ) |  | 775.1 |
Total |  | $ | 1,077.4 |  |  | $ | 1,342.9 |  |  | $ | 49.0 |  |  | $ | (1,221.7 | ) |  | $ | 1,247.6 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS) (In millions of dollars) Quarter Ended March 31, 2016
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 335.7 |  |  | $ | 26.4 |  |  | $ | (18.9 | ) |  | $ | 343.2 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 257.1 |  |  | 23.1 |  |  | (18.2 | ) |  | 262.0 |
Lower of cost or market inventory write-down |  | — |  |  | 4.9 |  |  | — |  |  | — |  |  | 4.9 |
Unrealized gain on derivative instruments |  | — |  |  | (4.0 | ) |  | — |  |  | — |  |  | (4.0 | )
Depreciation and amortization |  | — |  |  | 8.2 |  |  | 0.5 |  |  | — |  |  | 8.7 |
Selling, general, administrative, research and development: |  |  |  |  |  |  |  |  |  |
Selling, general, administrative, research and development |  | 0.8 |  |  | 23.6 |  |  | 2.2 |  |  | (0.5 | ) |  | 26.1 |
Net periodic postretirement benefit cost relating to Salaried VEBA |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Gain on removal of Union VEBA net assets |  | — |  |  | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | )
Total selling, general, administrative, research and development |  | 0.8 |  |  | 24.3 |  |  | 2.2 |  |  | (0.5 | ) |  | 26.8 |
Total costs and expenses |  | 0.8 |  |  | 290.5 |  |  | 25.8 |  |  | (18.7 | ) |  | 298.4 |
Operating (loss) income |  | (0.8 | ) |  | 45.2 |  |  | 0.6 |  |  | (0.2 | ) |  | 44.8 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (4.3 | ) |  | 0.6 |  |  | — |  |  | — |  |  | (3.7 | )
Other (expense) income, net |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Income (loss) before income taxes |  | (5.1 | ) |  | 46.1 |  |  | 0.6 |  |  | (0.2 | ) |  | 41.4 |
Income tax (provision) benefit |  | — |  |  | (16.9 | ) |  | (0.2 | ) |  | 2.0 |  |  | (15.1 | )
Earnings (loss) in equity of subsidiaries |  | 31.4 |  |  | 0.3 |  |  | — |  |  | (31.7 | ) |  | — |
Net income (loss) |  | $ | 26.3 |  |  | $ | 29.5 |  |  | $ | 0.4 |  |  | $ | (29.9 | ) |  | $ | 26.3 |
Comprehensive income |  | $ | 27.2 |  |  | $ | 30.3 |  |  | $ | 0.5 |  |  | $ | (30.8 | ) |  | $ | 27.2 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS) INCOME (In millions of dollars) Quarter Ended March 31, 2015
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 363.4 |  |  | $ | 34.7 |  |  | $ | (26.4 | ) |  | $ | 371.7 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 296.4 |  |  | 31.6 |  |  | (25.7 | ) |  | 302.3 |
Unrealized loss on derivative instruments |  | — |  |  | 4.5 |  |  | — |  |  | — |  |  | 4.5 |
Depreciation and amortization |  | — |  |  | 7.7 |  |  | 0.3 |  |  | — |  |  | 8.0 |
Selling, general, administrative, research and development: |  |  |  |  |  |  |  |  |  |
Selling, general, administrative, research and development |  | 1.0 |  |  | 20.7 |  |  | 1.6 |  |  | (0.6 | ) |  | 22.7 |
Net periodic postretirement benefit cost relating to Salaried VEBA |  | — |  |  | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Loss on removal of Union VEBA net assets |  | — |  |  | 492.2 |  |  | — |  |  | — |  |  | 492.2 |
Total selling, general, administrative, research and development |  | 1.0 |  |  | 513.5 |  |  | 1.6 |  |  | (0.6 | ) |  | 515.5 |
Total costs and expenses |  | 1.0 |  |  | 822.1 |  |  | 33.5 |  |  | (26.3 | ) |  | 830.3 |
Operating (loss) income |  | (1.0 | ) |  | (458.7 | ) |  | 1.2 |  |  | (0.1 | ) |  | (458.6 | )
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (9.5 | ) |  | (0.5 | ) |  | — |  |  | 0.2 |  |  | (9.8 | )
Other (expense) income, net |  | — |  |  | 0.5 |  |  | 0.1 |  |  | (0.2 | ) |  | 0.4 |
(Loss) income before income taxes |  | (10.5 | ) |  | (458.7 | ) |  | 1.3 |  |  | (0.1 | ) |  | (468.0 | )
Income tax benefit |  | — |  |  | 171.9 |  |  | — |  |  | 3.9 |  |  | 175.8 |
(Loss) earnings in equity of subsidiaries |  | (281.7 | ) |  | 1.1 |  |  | — |  |  | 280.6 |  |  | — |
Net (loss) income |  | $ | (292.2 | ) |  | $ | (285.7 | ) |  | $ | 1.3 |  |  | $ | 284.4 |  |  | $ | (292.2 | )
Comprehensive (loss) income |  | $ | (225.3 | ) |  | $ | (218.9 | ) |  | $ | 1.4 |  |  | $ | 217.5 |  |  | $ | (225.3 | )
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (In millions of dollars) Three Months Ended March 31, 2016
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |
Net cash provided by operating activities 1 |  | $ | 17.2 |  |  | $ | 201.4 |  |  | $ | 2.7 |  |  | $ | (200.0 | ) |  | $ | 21.3 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (25.3 | ) |  | (0.6 | ) |  | — |  |  | (25.9 | )
Proceeds from disposition of available for sale securities |  | — |  |  | 20.0 |  |  | — |  |  | — |  |  | 20.0 |
Net cash used in investing activities |  | — |  |  | (5.3 | ) |  | (0.6 | ) |  | — |  |  | (5.9 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares |  | (2.7 | ) |  | — |  |  | — |  |  | — |  |  | (2.7 | )
Repurchase of common stock |  | (6.3 | ) |  | — |  |  | — |  |  | — |  |  | (6.3 | )
Cash dividends paid to stockholders |  | (8.2 | ) |  | — |  |  | — |  |  | — |  |  | (8.2 | )
Cash dividends paid to Parent |  | — |  |  | (200.0 | ) |  | — |  |  | 200.0 |  |  | — |
Intercompany loan |  | — |  |  | 0.8 |  |  | (0.8 | ) |  | — |  |  | — |
Net cash (used in) provided by financing activities |  | (17.2 | ) |  | (199.2 | ) |  | (0.8 | ) |  | 200.0 |  |  | (17.2 | )
Net (decrease) increase in cash and cash equivalents during the period |  | — |  |  | (3.1 | ) |  | 1.3 |  |  | — |  |  | (1.8 | )
Cash and cash equivalents at beginning of period |  | — |  |  | 72.2 |  |  | 0.3 |  |  | — |  |  | 72.5 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 69.1 |  |  | $ | 1.6 |  |  | $ | — |  |  | $ | 70.7 |
________________
1 | The Guarantor Subsidiaries’ Net cash provided by operating activities reflects a decrease in current Intercompany receivables from the Parent and an increase in current Intercompany payable to the Parent related to the $200.0 million dividend made by the Guarantor Subsidiaries to the Parent. The dividend to the Parent and intercompany activity is eliminated within the consolidating adjustments.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS (In millions of dollars) Three Months Ended March 31, 2015
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 37.8 |  |  | $ | (32.7 | ) |  | $ | 2.3 |  |  | $ | — |  |  | $ | 7.4 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (6.7 | ) |  | (4.6 | ) |  | — |  |  | (11.3 | )
Proceeds from disposition of available for sale securities |  | — |  |  | 84.0 |  |  | — |  |  | — |  |  | 84.0 |
Net cash provided by (used in) investing activities |  | — |  |  | 77.3 |  |  | (4.6 | ) |  | — |  |  | 72.7 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Payment of capital lease liability |  | — |  |  | (0.1 | ) |  | — |  |  | — |  |  | (0.1 | )
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest |  | — |  |  | 1.0 |  |  | — |  |  | — |  |  | 1.0 |
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares |  | (2.5 | ) |  | — |  |  | — |  |  | — |  |  | (2.5 | )
Repurchase of common stock |  | (28.2 | ) |  | — |  |  | — |  |  | — |  |  | (28.2 | )
Cash dividend paid to stockholders |  | (7.1 | ) |  | — |  |  | — |  |  | — |  |  | (7.1 | )
Intercompany loan |  | — |  |  | (1.9 | ) |  | 1.9 |  |  | — |  |  | — |
Net cash (used in) provided by financing activities |  | (37.8 | ) |  | (1.0 | ) |  | 1.9 |  |  | — |  |  | (36.9 | )
Net increase (decrease) in cash and cash equivalents during the period |  | — |  |  | 43.6 |  |  | (0.4 | ) |  | — |  |  | 43.2 |
Cash and cash equivalents at beginning of period |  | — |  |  | 175.3 |  |  | 2.4 |  |  | — |  |  | 177.7 |
Cash and cash equivalents at end of period |  | $ | — |  |  | $ | 218.9 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 220.9 |

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- Definition Guarantor and Non-Guarantor Financial Statement [Abstract] + References No definition available. + Details
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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References No definition available. + Details
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