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Derivative Financial Instruments and Hedging (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments In Statement Of Financial Position Fair Value
There are no credit risk-related contingent features in the Company’s derivative contracts, and the contracts contained no provisions under which the Company has posted, or would be required to post, collateral. The counterparties to the Company’s derivative contracts are substantial and creditworthy commercial banks that are recognized market makers. The Company controls its credit exposure by diversifying across multiple counterparties and by monitoring credit ratings and credit default swap spreads of its counterparties. The Company also enters into master netting a
Schedule Of Derivative Instruments Gain Loss In Statement Of Financial Performance
Activity with regard to derivatives designated as cash flow hedges for the three and six month periods ended June 30, 2016 and 2015 was as follows (in millions): 
 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives
(Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI
into Income
(Effective Portion) (a)
 
Amount of Gain (Loss)
Recognized in Income
on Derivatives (Ineffective
Portion and Amount
Excluded from
Effectiveness Testing) (b)
Derivatives in Cash Flow
Three months ended June 30,
 
Three months ended June 30,
 
Three months ended June 30,
Hedging Relationships
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Nickel and other raw material contracts
$
12.2

 
$
(3.5
)
 
$
(3.8
)
 
$
(2.4
)
 
$
—

 
$
—

Natural gas contracts
4.3

 
0.2

 
(2.7
)
 
(2.4
)
 
(0.2
)
 
—

Electricity contracts
—

 
—

 
—

 
—

 
—

 
—

Foreign exchange contracts
(0.2
)
 
(3.1
)
 
4.9

 
6.1

 
—

 
—

Total
$
16.3

 
$
(6.4
)
 
$
(1.6
)
 
$
1.3

 
$
(0.2
)
 
$
—

 
Amount of Gain (Loss)
Recognized in OCI on
Derivatives
(Effective Portion)
 
Amount of Gain (Loss)
Reclassified from
Accumulated OCI
into Income
(Effective Portion) (a)
 
Amount of Gain (Loss)
Recognized in Income
on Derivatives (Ineffective
Portion and Amount
Excluded from
Effectiveness Testing) (b)
Derivatives in Cash Flow
Six months ended June 30,
 
Six months ended June 30,
 
Six months ended June 30,
Hedging Relationships
2016
 
2015
 
2016
 
2015
 
2016
 
2015
Nickel and other raw material contracts
$
8.8

 
$
(13.1
)
 
$
(7.7
)
 
$
(4.6
)
 
$
—

 
$
—

Natural gas contracts
2.3

 
(5.8
)
 
(5.9
)
 
(4.8
)
 
(0.9
)
 
—

Electricity contracts
—

 
—

 
—

 
(0.1
)
 
—

 
—

Foreign exchange contracts
(0.5
)
 
23.9

 
9.6

 
12.5

 
—

 
—

Total
$
10.6

 
$
5.0

 
$
(4.0
)
 
$
3.0

 
$
(0.9
)
 
$
—

(a)
The gains (losses) reclassified from accumulated OCI into income related to the effective portion of the derivatives are presented in cost of sales in the same period or periods in which the hedged item affects earnings.
(b)
The gains (losses) recognized in income on derivatives related to the ineffective portion and the amounts excluded from effectiveness testing are presented in selling and administrative expenses.
Schedule Of Derivative Instruments Not Designated as Hedging Instruments
These derivatives that are not designated as hedging instruments were as follows:
(In millions)
Amount of Gain (Loss) Recognized
in Income on Derivatives
Derivatives Not Designated
Three months ended June 30,
 
Six months ended June 30,
as Hedging Instruments
2016
 
2015
 
2016
 
2015
Foreign exchange contracts
$
0.7

 
$
(0.5
)
 
$
0.1

 
$
3.0