Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Copper Swap Contracts

As of June 30, 2020 and December 31, 2019, we had outstanding copper swap contracts of the following amounts:

	Units Outstanding (in Pounds)				Net Fair Value - Asset (Liability)
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
(Amounts in millions)
Cash flow hedges		77.9		56.5	$	10.3	$	4.5
Not designated as hedges		15.9		16.6		2.0		1.7
Total		93.8		73.1	$	12.3	$	6.2

Schedule of Fair Value of Outstanding Copper Swap Contracts Recorded in Balance Sheet

As of June 30, 2020 and December 31, 2019, the fair value of the outstanding copper swap contracts is recorded in the balance sheet as follows:

	June 30, 2020		December 31, 2019
(Dollars in millions)
Other current assets	$	1.8	$	2.1
Other assets		10.5		4.1
Asset on balance sheet	$	12.3	$	6.2
Accumulated other comprehensive gain, net of tax	$	7.8	$	3.3

Schedule of Gain (Loss) from Contract Not Designated as Hedges

For the three and six months ended June 30, 2020 and 2019, the gain (loss) from contracts not designated as hedges is as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2020		2019			2020		2019
(Dollars in millions)
Gain (loss) from contracts not designated as hedges	$	8.3	$	(1.8	)	$	0.3	$	1.3

Schedule of Fair Value of Outstanding Foreign Currency Forward Contracts

As of June 30, 2020 and December 31, 2019, the fair value of outstanding foreign currency forward contracts is recorded in the balance sheet as follows:

	June 30, 2020			December 31, 2019
(Dollars in millions)
Other current assets	$	0.6		$	0.3
Accrued liabilities		(0.8	)		(0.5	)
Net liability on balance sheet	$	(0.2	)	$	(0.2	)

Summary of Net Currency Units Outstanding

As of June 30, 2020 and December 31, 2019, the net currency units outstanding for these contracts were:

	June 30, 2020		December 31, 2019
(In millions)
British Pounds		GBP 2.5		GBP 3.7
New Zealand Dollars		NZD 17.0		NZD 16.0
United States Dollars		USD 4.6		USD 6.2
Euro		EUR 1.2		EUR 1.2