Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

The fair value of financial assets and liabilities at December 31, 2020 and 2019, is shown in the table below:

	Fair Value Measurements
	Gross Amounts of Assets and Liabilities						Netting Adjustments(1)		Net Amounts Presented on the Consolidated Balance Sheets
	Level 1		Level 2		Level 3
	(in millions)
	December 31, 2020
Financial Assets
Fair value of derivative contracts – short-term	$	—	$	1.4	$	—	$	(1.4)	$	—
Fair value of derivative contracts – long-term	—		—		—		—		—
Fair value of Rabbi Trust marketable securities	23.4		—		—		—		23.4
Total financial assets	$	23.4	$	1.4	$	—	$	(1.4)	$	23.4
Financial Liabilities
Fair value of derivative contracts – short-term	$	—	$	77.8	$	—	$	(1.4)	$	76.4
Fair value of derivative contracts – long-term	—		0.3		—		—		0.3
Fair value of Wrap Plan obligations	25.5		—		—		—		25.5
Total financial liabilities	$	25.5	$	78.1	$	—	$	(1.4)	$	102.2
	December 31, 2019
Financial Assets
Fair value of derivative contracts – short-term	$	—	$	1.5	$	—	$	—	$	1.5
Fair value of derivative contracts – long-term	—		0.2		—		—		0.2
Fair value of Rabbi Trust marketable securities	23.1		—		—		—		23.1
Total financial assets	$	23.1	$	1.7	$	—	$	—	$	24.8
Financial Liabilities
Fair value of derivative contracts – short-term	$	—	$	18.7	$	—	$	—	$	18.7
Fair value of derivative contracts – long-term	—		0.5		—		—		0.5
Fair value of Wrap Plan obligations	26.8		—		—		—		26.8
Total financial liabilities	$	26.8	$	19.2	$	—	$	—	$	46.0

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(1)The Company nets its derivative contract assets and liabilities outstanding with the same counterparty on the balance sheets for the contracts that contain netting provisions. Refer to Note 6 – Derivative Contracts for more information regarding the Company's derivative contracts.

Fair value and related carrying amount of certain financial instruments

The following table discloses the fair value and related carrying amount of long-term debt not disclosed in other Notes to the Consolidated Financial Statements:

	Carrying Amount		Level 1 Fair Value		Carrying Amount		Level 1 Fair Value
	December 31, 2020				December 31, 2019
Financial Liabilities	(in millions)
Long-term debt	$	1,591.3	$	1,702.8	$	2,015.6	$	2,029.4