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Derivatives, Hedging Programs and Other Financial Instruments - Summary of Loss (Gain) Associated with Derivative Contracts (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of cashflow hedges are recorded | $ 208.4 | $ 298.6 | $ 719.5 | $ 917.2
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 12.9 | 12.3 | 39.1 | 36.3
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 0.5 | 0.8 | 0.8 | 0.4
Cost of Sales | Not Designated as Hedging Instrument |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | (1.5) |  | (0.1) |
Cost of Sales | Not Designated as Hedging Instrument | Alloying metals |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income – Realized loss | 0.3 |  | 1.7 |
Loss (gain) recognized in our Statements of Consolidated Income – Unrealized gain | (1.8) |  | (1.8) |
Depreciation and Amortization | Designated as Hedging Instrument | Foreign Exchange Contract |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Foreign exchange contracts |  |  | (0.1) |
Cash Flow Hedges |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of cashflow hedges are recorded | 208.4 | 298.6 | 719.5 | 917.2
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 1.6 | 5.4 | 19.2 | 14.3
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Electricity |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income |  |  | 0.6 |
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Aluminum |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 1.2 | 4.8 | 14.5 | 13.5
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Natural Gas |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 0.3 | 0.1 | 1.2 | 0.1
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Alloying Metals |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income |  | 0.5 | 2.1 | 0.7
Cash Flow Hedges | Cost of Sales | Designated as Hedging Instrument | Alloying Metals (Reclassification Due To Forecasted Transactions No Longer Probable of Occurring |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Alloying metals (reclassification from AOCI due to forecasted transactions no longer probable of occurring) | 0.1 |  | 0.8 |
Fair Value Hedges |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 12.9 | 12.3 | 39.1 | 36.3
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | $ (0.5) | $ (0.8) | (0.8) | $ (0.4)
Fair Value Hedges | Designated as Hedging Instrument | Foreign Exchange Contract |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Loss (gain) recognized in our Statements of Consolidated Income |  |  | 0.3 |
Fair Value Hedges | Depreciation and Amortization | Designated as Hedging Instrument | Foreign Exchange Contract |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Hedged item |  |  | 0.1 |
Excluded component amortized from AOCI |  |  | 0.4 |
Fair Value Hedges | Other Expense, Net | Designated as Hedging Instrument | Foreign Exchange Contract |  |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |  |
Reclassification from AOCI related to early termination of firm commitment |  |  | (0.4) |
Net settlement related to early termination of forward contracts |  |  | $ 0.3 |

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