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Goodwill | 6 Months Ended
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Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill Disclosure | Goodwill Goodwill is related to our acquisitions of the Chandler, Arizona (Extrusion) facility and the Florence, Alabama facility and is included in the Fabricated Products segment. During the quarter ended June 30 2017, following a qualitative review of these facilities, we identified several factors that indicated that long-term demand for hard alloy extruded shapes was less than prior assumptions used to develop forecasts for the Chandler, Arizona (Extrusion) facility. Such factors included: (i) the reduction of build rates of wide body commercial aircraft; (ii) additional substitution away from hard alloy extruded shapes in favor of composites, titanium and/or aerospace aluminum plate in the manufacture of commercial aircraft; and (iii) continued low build rates for business jets. Based on these factors, we tested for goodwill impairment using level 3 inputs and a combination of an income approach using the estimated discounted cash flow and a market-based valuation methodology. Having determined that the carrying value of the Chandler, Arizona (Extrusion) facility exceeded its fair value as of June 30, 2017, an impairment charge of $18.4 million for the quarter ended June 30, 2017 was recorded within Operating income in the Statements of Consolidated Income. As this goodwill is deductible for income tax purposes, the deferred tax effects were included in the impairment charge and income tax provision. A reconciliation of the change in the carrying value of goodwill was as follows (in millions):
| June 30, 2017 |  | December 31, 2016
| (In millions of dollars)
Balance at beginning of year | $ | 37.2 |  |  | $ | 37.2 |
Goodwill impairment | (18.4 | ) |  | — |
Balance at end of period | $ | 18.8 |  |  | $ | 37.2 |
Other than the impairment discussed above, we identified no other indicators of impairment associated with the remainder of our goodwill during the six months ended June 30, 2017.

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