DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2011

DERIVATIVE FINANCIAL INSTRUMENTS [Abstract]

Schedule of derivative instruments

We had the following notional amount of outstanding commodity forward contracts that were entered into to hedge forecasted purchases:

	December 31,
	2011		2010
	($ in millions)
Copper	$	52.1	$	25.1
Zinc		7.3		3.2
Lead		37.9		19.6
Natural gas		8.3		5.5

Summary of location and fair value of derivative instruments on condensed balance sheets

The following table summarizes the location and fair value of the derivative instruments on our consolidated balance sheets.  The table disaggregates our net derivative assets and liabilities into gross components on a contract-by-contract basis before giving effect to master netting arrangements:

	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
		December 31,					December 31,
Derivatives Designated as Hedging Instruments	Balance Sheet Location		2011		2010	Balance Sheet Location		2011			2010
		($ in millions)					($ in millions)
Interest rate contracts	Other current assets	$	-	$	-	Current installments of long-term debt	$	-		$	2.8
Interest rate contracts	Other assets		2.2		5.3	Long-term debt		12.7			5.3
Commodity contracts - gains	Other current assets		-		16.9	Accrued liabilities		(2.5	)		-
Commodity contracts - losses	Other current assets		-		-	Accrued liabilities		11.2			-
		$	2.2	$	22.2		$	21.4		$	8.1
Derivatives Not Designated as Hedging Instruments
Interest rate contracts	Other current assets	$	-	$	3.8	Accrued liabilities	$	-		$	1.2
Interest rate contracts	Other assets		11.6		-	Other liabilities		1.0			-
Commodity contracts - gains	Other current assets		-		-	Accrued liabilities		-			(0.1	)
Commodity contracts - losses	Other current assets		-		-	Accrued liabilities		1.5			0.3
		$	11.6	$	3.8		$	2.5		$	1.4
Total derivatives(1)		$	13.8	$	26.0		$	23.9		$	9.5

(1)         Does not include the impact of cash collateral received from or provided to counterparties.

Summary of effects of derivative instruments on consolidated statements of operations

The following table summarizes the effects of derivative instruments on our consolidated statements of operations:

		Amount of Gain (Loss)
		Years Ended December 31,
	Location of Gain (Loss)	2011			2010			2009
Derivatives - Cash Flow Hedges		($ in millions)
Recognized in other comprehensive loss (effective portion)	---	$	(17.3	)	$	8.8		$	39.3
Reclassified from accumulated other comprehensive loss into income (effective portion)	Cost of goods sold	$	10.3		$	8.8		$	(20.4	)
Recognized in income (ineffective portion)	Cost of goods sold		-			-			0.1
		$	10.3		$	8.8		$	(20.3	)
Derivatives - Fair Value Hedges
Interest rate contracts	Interest expense	$	6.7		$	6.7		$	3.4
Derivatives Not Designated as Hedging Instruments
Interest rate contracts	Interest expense	$	0.5		$	0.3		$	(0.4	)
Commodity contracts	Cost of goods sold		(2.2	)		(1.1	)		(2.3	)
		$	(1.7	)	$	(0.8	)	$	(2.7	)