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Derivatives, Hedging Programs and Other Financial Instruments - Summary of Loss (Gain) Associated with Derivative Contracts (Details) - USD ($) $ in Millions | 12 Months Ended
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Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018
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 | $ 941.3 | $ 1,215.2 | $ 1,300.7
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 52.2 | 49.1 | 43.9
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 1.4 | 20.7 | 0.9
Cost of Products Sold | Not Designated as Hedging Instrument |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | (3.3) |  |
Cost of Products Sold | Not Designated as Hedging Instrument | Alloying Metals |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income – Realized loss | 0.2 |  |
Loss (gain) recognized in our Statements of Consolidated Income – Unrealized gain | (3.5) |  |
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 | 941.3 | 1,215.2 | 1,300.7
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 17.7 | 19.7 | 2.8
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Electricity |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 0.5 |  |
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Aluminum |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 13.7 | 18.4 | 2.1
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Alloying Metals |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 1.4 | 1.1 | 1.0
Cash Flow Hedges | Cost of Products Sold | 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) | 0.8 |  |
Cash Flow Hedges | Cost of Products Sold | Designated as Hedging Instrument | Natural Gas |  |  |
Derivative Instruments Gain Loss [Line Items] |  |  |
Loss (gain) recognized in our Statements of Consolidated Income | 1.3 | $ 0.2 | $ (0.3)
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 | 52.2 |  |
Total of income and expense line items presented in our Statements of Consolidated Income in which the effects of fair value hedges are recorded | 1.4 |  |
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 | 0.6 |  |
Net settlement related to early termination of forward contracts | $ (0.7) |  |

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