XML 39 R29.htm IDEA: XBRL DOCUMENT v3.4.0.3
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]  
Summary of Environmental Reserve Activity
A summary of the Company’s environmental reserve activity is shown below:

Aerojet
Rocketdyne-
Sacramento

Aerojet
Rocketdyne-
BPOU

Other
Aerojet
Rocketdyne
Sites

Total
Aerojet
Rocketdyne

Other

Total
Environmental
Reserve
 
(In millions)
November 30, 2015
$
153.0


$
140.1


$
7.8

 
$
300.9

 
$
5.2

 
$
306.1

Additions
0.5

 

 

 
0.5

 

 
0.5

Expenditures
(0.9
)
 
(3.4
)
 

 
(4.3
)
 

 
(4.3
)
December 31, 2015
152.6

 
136.7

 
7.8

 
297.1

 
5.2

 
302.3

Additions
1.4


2.6


1.2

 
5.2

 
(0.3
)
 
4.9

Expenditures
(3.9
)

(2.9
)

(0.7
)
 
(7.5
)
 
(0.4
)
 
(7.9
)
March 31, 2016
$
150.1


$
136.4


$
8.3


$
294.8


$
4.5


$
299.3

Summary of Pre-Close Environmental Costs
A summary of the Pre-Close Environmental Costs is shown below (in millions):
Pre-Close Environmental Costs
$
20.0

Amount spent through March 31, 2016
(19.0
)
Amount included as a component of reserves for environmental remediation costs in the unaudited condensed consolidated balance sheet as of March 31, 2016
(1.0
)
Remaining Pre-Close Environmental Costs
$

Summary of Northrop Agreement Activity
A summary of the Northrop Agreement activity is shown below (in millions):
Total reimbursable costs under the Northrop Agreement
$
189.7

Amount reimbursed to the Company through March 31, 2016
(114.7
)
Potential future cost reimbursements available
75.0

Less: Receivable from Northrop included in the unaudited condensed consolidated balance sheet as of March 31, 2016
(68.7
)
Potential future recoverable amounts available under the Northrop Agreement
$
6.3

Summary of Financial Information for the Impact of Environmental Reserves and Recoveries
Summarized financial information for the impact of environmental reserves and recoveries to the unaudited condensed consolidated statements of operations is set forth below:
 
Three months ended March 31,
 
Three months ended February 28,
 
One month ended December 31,
 
2016
 
2015
 
2015
 
(In millions)
Estimated recoverable amounts under U.S. government contracts
$
4.6

 
$
3.4

 
$
0.6

Expense (benefit) to unaudited condensed consolidated statement of operations
0.3

 
1.6

 
(0.1
)
Total environmental reserve adjustments
$
4.9

 
$
5.0

 
$
0.5