XML 39 R28.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue Recognition (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2018
Revenue Recognition [Abstract] |
Revenue Recognition Opening Balance Sheet | The following table presents the impact on our opening Consolidated Balance Sheet as of January 1, 2018 of adopting ASC 606 (in millions of dollars):
| December 31, 2017 As Reported |  | Cumulative-effect Adjustments1 |  | January 1, 2018 As Adjusted
Contract assets | $ | — |  |  | $ | 55.6 |  |  | $ | 55.6 |
Inventories | 207.9 |  |  | (40.7 | ) |  | 167.2 |
Total current assets | 656.6 |  |  | 14.9 |  |  | 671.5 |
Deferred tax assets, net | 72.0 |  |  | (3.3 | ) |  | 68.7 |
Total assets | $ | 1,385.2 |  |  | $ | 11.6 |  |  | $ | 1,396.8 |
Other accrued liabilities | 40.5 |  |  | 1.5 |  |  | 42.0 |
Total current liabilities | 173.1 |  |  | 1.5 |  |  | 174.6 |
Total liabilities | $ | 638.9 |  |  | $ | 1.5 |  |  | $ | 640.4 |
Retained earnings | 85.5 |  |  | 10.1 |  |  | 95.6 |
Total stockholders’ equity | 746.3 |  |  | 10.1 |  |  | 756.4 |
Total liabilities and stockholders’ equity | $ | 1,385.2 |  |  | $ | 11.6 |  |  | $ | 1,396.8 |
____________________
1 | Included in the cumulative-effect adjustment was a charge of $5.0 million as a result of decrementing higher cost prior LIFO layers.
Consolidated Balance Sheet | The following table presents the impact of adopting ASC 606 on our Consolidated Balance Sheet for the period presented (in millions of dollars):
| June 30, 2018 As Reported |  | Adjustments |  | June 30, 2018 without Adoption of ASC 606
Contract assets | $ | 52.6 |  |  | $ | (52.6 | ) |  | $ | — |
Inventories | 177.2 |  |  | 32.7 |  |  | 209.9 |
Total current assets | 704.8 |  |  | (19.9 | ) |  | 684.9 |
Deferred tax assets, net | 51.5 |  |  | 3.3 |  |  | 54.8 |
Total assets | $ | 1,423.8 |  |  | $ | (16.6 | ) |  | $ | 1,407.2 |
Other accrued liabilities | 29.9 |  |  | (3.1 | ) |  | 26.8 |
Total current liabilities | 194.1 |  |  | (3.1 | ) |  | 191.0 |
Total liabilities | $ | 662.8 |  |  | $ | (3.1 | ) |  | $ | 659.7 |
Retained earnings | 123.1 |  |  | (13.5 | ) |  | 109.6 |
Total stockholders’ equity | 761.0 |  |  | (13.5 | ) |  | 747.5 |
Total liabilities and stockholders’ equity | $ | 1,423.8 |  |  | $ | (16.6 | ) |  | $ | 1,407.2 |
Consolidated Income Statement | The following table presents the impact of adopting ASC 606 on our Statements of Consolidated Income for the period presented (in millions of dollars, except per share amounts):
| Quarter Ended June 30, 2018 |  | Six Months Ended June 30, 2018
| As Reported |  | Adjustments |  | Without Adoption of ASC 606 |  | As Reported |  | Adjustments |  | Without Adoption of ASC 606
Net sales | $ | 415.4 |  |  | $ | 4.9 |  |  | $ | 420.3 |  |  | $ | 803.4 |  |  | $ | 3.2 |  |  | $ | 806.6 |
Cost of products sold, excluding depreciation and amortization and other items1 | 343.4 |  |  | 3.4 |  |  | 346.8 |  |  | 660.1 |  |  | 7.6 |  |  | 667.7 |
Operating income | 34.7 |  |  | 1.5 |  |  | 36.2 |  |  | 71.8 |  |  | (4.4 | ) |  | 67.4 |
Income before income taxes | 28.5 |  |  | 1.5 |  |  | 30.0 |  |  | 60.1 |  |  | (4.4 | ) |  | 55.7 |
Income tax provision | (7.8 | ) |  | (0.4 | ) |  | (8.2 | ) |  | (13.7 | ) |  | 1.0 |  |  | (12.7 | )
Net income | $ | 20.7 |  |  | $ | 1.1 |  |  | $ | 21.8 |  |  | $ | 46.4 |  |  | $ | (3.4 | ) |  | $ | 43.0 |
Net income per common share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1.24 |  |  | $ | 0.07 |  |  | $ | 1.31 |  |  | $ | 2.78 |  |  | $ | (0.20 | ) |  | $ | 2.58 |
Diluted | $ | 1.22 |  |  | $ | 0.06 |  |  | $ | 1.28 |  |  | $ | 2.74 |  |  | $ | (0.20 | ) |  | $ | 2.54 |
____________________
1 | Included in the "as reported" amounts was the benefit of having decremented higher cost prior LIFO layers as part of the cumulative-effect adjustment of adopting ASC 606, as discussed in the opening balance sheet table above.
The following table presents the impact of adopting ASC 606 on our Statements of Consolidated Comprehensive Income for the period presented (in millions of dollars):
| Quarter Ended June 30, 2018 |  | Six Months Ended June 30, 2018
| As Reported |  | Adjustments |  | Without Adoption of ASC 606 |  | As Reported |  | Adjustments |  | Without Adoption of ASC 606
Net income | $ | 20.7 |  |  | $ | 1.1 |  |  | $ | 21.8 |  |  | $ | 46.4 |  |  | $ | (3.4 | ) |  | $ | 43.0 |
Comprehensive income | $ | 27.1 |  |  | $ | 1.1 |  |  | $ | 28.2 |  |  | $ | 44.5 |  |  | $ | (3.4 | ) |  | $ | 41.1 |
Consolidated Statement of Cash Flows | The following table presents the impact of adopting ASC 606 on our Statements of Consolidated Cash Flows for the period presented (in millions of dollars):
| Six Months Ended June 30, 2018 As Reported |  | Adjustments |  | Six Months Ended June 30, 2018 without Adoption of ASC 606
Net income | $ | 46.4 |  |  | $ | (3.4 | ) |  | $ | 43.0 |
Changes in operating assets and liabilities: |  |  |  |  |
Contract assets | 3.0 |  |  | (3.0 | ) |  | — |
Inventories | (10.0 | ) |  | 8.0 |  |  | (2.0 | )
Accrued liabilities | (10.8 | ) |  | (1.6 | ) |  | (12.4 | )
Net cash provided by operating activities | $ | 84.0 |  |  | $ | — |  |  | $ | 84.0 |

X
- Definition Consolidated Balance Sheet + References No definition available. + Details
Name: | kalu_ConsolidatedBalanceSheetTableTextBlock
Namespace Prefix: | kalu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Consolidated Income Statement + References No definition available. + Details
Name: | kalu_ConsolidatedIncomeStatementTableTextBlock
Namespace Prefix: | kalu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Consolidated Statement of Cash Flows + References No definition available. + Details
Name: | kalu_ConsolidatedStatementofCashFlowsTableTextBlock
Namespace Prefix: | kalu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition [Table Text Block] for Revenue Recognition Opening Balance Sheet [Table] + References No definition available. + Details
Name: | kalu_RevenueRecognitionOpeningBalanceSheetTableTextBlock
Namespace Prefix: | kalu_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueRecognitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration