DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

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

	September 30, 2012		December 31, 2011		September 30, 2011
	($ in millions)
Copper	$	59.8	$	52.1	$	54.3
Zinc	5.9		7.3		7.7
Lead	49.6		37.9		36.1
Natural gas	8.6		8.3		5.7

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 condensed 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
Derivatives Designated as Hedging Instruments	Balance Sheet Location	September 30, 2012			December 31, 2011		September 30, 2011		Balance Sheet Location	September 30, 2012		December 31, 2011			September 30, 2011
		($ in millions)								($ in millions)
Interest rate contracts	Other current assets	$	—		$	—	$	—	Current installments of long-term debt	$	—	$	—		$	0.6
Interest rate contracts	Other assets	—			2.2		14.3		Long-term debt	10.9		12.7			14.0
Interest rate contracts	Other assets	—			—		—		Other liabilities	—		—			0.2
Commodity contracts – gains	Other current assets	10.4			—		—		Accrued liabilities	—		(2.5		)	(2.3		)
Commodity contracts – losses	Other current assets	(2.0		)	—		—		Accrued liabilities	—		11.2			16.6
		$	8.4		$	2.2	$	14.3		$	10.9	$	21.4		$	29.1
Derivatives Not Designated as Hedging Instruments
Interest rate contracts	Other current assets	$	—		$	—	$	0.8	Accrued liabilities	$	—	$	—		$	0.3
Interest rate contracts – gains	Other assets	12.9			11.6		—		Other liabilities	—		—			—
Interest rate contracts – losses	Other assets	(4.0		)	—		—		Other liabilities	—		1.0			—
Commodity contracts – gains	Other current assets	0.7			—		—		Accrued liabilities	—		—			—
Commodity contracts – losses	Other current assets	(0.2		)	—		—		Accrued liabilities	—		1.5			0.4
		$	9.4		$	11.6	$	0.8		$	—	$	2.5		$	0.7
Total derivatives(1)		$	17.8		$	13.8	$	15.1		$	10.9	$	23.9		$	29.8

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

Summary of effects of derivative instruments on condensed statements of income

The following table summarizes the effects of derivative instruments on our condensed statements of income:

		Amount of Gain (Loss)						Amount of Gain (Loss)
		Three Months Ended September 30,						Nine Months Ended September 30,
	Location of Gain (Loss)	2012			2011			2012			2011
Derivatives – Cash Flow Hedges		($ in millions)
Recognized in other comprehensive loss (effective portion)	———	$	12.7		$	(21.7	)	$	10.3		$	(21.3	)
Reclassified from accumulated other comprehensive loss into income (effective portion)	Cost of goods sold	$	(2.3	)	$	1.2		$	(6.9	)	$	11.8
Derivatives – Fair Value Hedges
Interest rate contracts	Interest expense	$	0.7		$	1.8		$	2.6		$	5.8
Derivatives Not Designated as Hedging Instruments
Interest rate contracts	Interest expense	$	0.1		$	(0.1	)	$	0.1		$	—
Commodity contracts	Cost of goods sold	0.7			(0.4		)	(1.7		)	(0.8		)
		$	0.8		$	(0.5	)	$	(1.6	)	$	(0.8	)