Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of sales by segment

(In millions)	2019		2018		2017
Total sales:
High Performance Materials & Components	$	2,054.2	$	2,039.2	$	1,751.1
Advanced Alloys & Solutions	2,392.2		2,302.4		2,006.9
Total sales	4,446.4		4,341.6		3,758.0
Intersegment sales:
High Performance Materials & Components	75.7		76.1		46.3
Advanced Alloys & Solutions	248.2		218.9		186.6
Total intersegment sales	323.9		295.0		232.9
Sales to external customers:
High Performance Materials & Components	1,978.5		1,963.1		1,704.8
Advanced Alloys & Solutions	2,144.0		2,083.5		1,820.3
Total sales to external customers	$	4,122.5	$	4,046.6	$	3,525.1

Schedule of operating profit (loss) by segment

(In millions)	2019			2018			2017
Operating profit:
High Performance Materials & Components	$	271.6		$	269.7		$	191.4
Advanced Alloys & Solutions	109.1			143.5			92.0
Total operating profit	380.7			413.2			283.4
LIFO and net realizable value reserves (See Note 3)	(0.1		)	(0.7		)	(0.2		)
Corporate expenses	(66.8		)	(58.1		)	(50.5		)
Closed operations and other expenses	(25.5		)	(21.6		)	(34.0		)
Restructuring and other charges	(4.5		)	—			—
Impairment of goodwill (See Note 5)	—			—			(114.4		)
Debt extinguishment charge (See Note 10)	(21.6		)	—			(37.0		)
Gain on joint venture deconsolidation (See Note 7)	—			15.9			—
Joint venture impairment charge (See Note 7)	(11.4		)	—			—
Gain on asset sales, net	89.8			—			—
Interest expense, net	(99.0		)	(101.0		)	(133.8		)
Income (loss) before income taxes	$	241.6		$	247.7		$	(86.5	)

Schedule of other financial information by segment

Certain additional information regarding the Company’s business segments is presented below:

(In millions)	2019		2018		2017
Depreciation and amortization:
High Performance Materials & Components	$	84.7	$	90.6	$	91.5
Advanced Alloys & Solutions	63.5		62.9		63.4
Corporate	2.9		2.9		5.9
Total depreciation and amortization	$	151.1	$	156.4	$	160.8
Capital expenditures:
High Performance Materials & Components	$	119.9	$	71.7	$	52.7
Advanced Alloys & Solutions	47.4		64.5		69.1
Corporate	0.9		3.0		0.9
Total capital expenditures	$	168.2	$	139.2	$	122.7

Identifiable assets:	2019		2018		2017
High Performance Materials & Components	$	2,324.6	$	2,400.7	$	2,329.9
Advanced Alloys & Solutions	2,621.1		2,590.4		2,550.8
Discontinued Operations	—		—		0.2
Corporate:
Deferred Taxes	64.5		8.7		7.6
Cash and cash equivalents and other	624.4		502.0		296.9
Total assets	$	5,634.6	$	5,501.8	$	5,185.4

Schedule of company assets by country

($ in millions)	2019		Percent of total		2018		Percent of total		2017		Percent of total
Total assets:
United States	$	4,956.4	88	%	$	4,859.1	88	%	$	4,547.7	88	%
China	288.1		5	%	287.3		5	%	276.0		5	%
United Kingdom	141.3		3	%	136.7		3	%	122.7		2	%
Other	248.8		4	%	218.7		4	%	239.0		5	%
Total Assets	$	5,634.6	100	%	$	5,501.8	100	%	$	5,185.4	100	%