DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

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

	December 31,
	2017		2016
	($ in millions)
Copper	$	45.2	$	35.8
Zinc	8.4		8.0
Lead	—		3.4
Natural gas	39.2		54.4

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:

	December 31,
	2017			2016
Asset Derivatives:
Other current assets
Derivatives designated as hedging instruments:
Interest rate contracts - gains	$	6.9		$	1.9
Commodity contracts - gains	11.4			13.2
Commodity contracts - losses	(0.1		)	(1.7		)
Derivatives not designated as hedging instruments:
Foreign exchange contracts - losses	(1.0		)	(0.5		)
Foreign exchange contracts - gains	2.0			0.6
Total other current assets	19.2			13.5
Other assets
Derivatives designated as hedging instruments:
Interest rate contracts - gains	3.6			7.7
Total other assets	3.6			7.7
Total Asset Derivatives(1)	$	22.8		$	21.2
Liability Derivatives:
Current installments of long-term debt
Derivatives designated as hedging instruments:
Interest rate contracts - gains	$	—		$	0.1
Total current installments of long-term debt	—			0.1
Accrued liabilities
Derivatives designated as hedging instruments:
Commodity contracts - losses	3.8			—
Derivatives not designated as hedging instruments:
Foreign exchange contracts - losses	—			1.7
Foreign exchange contracts - gains	—			(0.5		)
Total accrued liabilities	3.8			1.2
Other liabilities
Derivatives designated as hedging instruments:
Interest rate contracts - losses	28.1			28.5
Total other liabilities	28.1			28.5
Total Liability Derivatives(1)	$	31.9		$	29.8

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

Summary of effects of derivative instruments on 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)	2017			2016			2015
Derivatives – Cash Flow Hedges		($ in millions)
Recognized in other comprehensive loss (effective portion):
Commodity contracts	———	$	(2.1	)	$	16.7		$	(13.9	)
Interest rate contracts	———	4.0			9.6			—
		$	1.9		$	26.3		$	(13.9	)
Reclassified from accumulated other comprehensive loss into income (effective portion):
Interest rate contracts	Interest expense	$	3.1		$	—		$	—
Commodity contracts	Cost of goods sold	1.5			(5.8		)	(9.7		)
		$	4.6		$	(5.8	)	$	(9.7	)
Derivatives – Fair Value Hedges
Interest rate contracts	Interest expense	$	3.0		$	3.7		$	2.8
Derivatives Not Designated as Hedging Instruments
Commodity contracts	Cost of goods sold	$	—		$	(0.4	)	$	(2.2	)
Foreign exchange contracts	Selling and administration	1.8			(11.1		)	0.1
		$	1.8		$	(11.5	)	$	(2.1	)

The ineffective portion of changes in fair value resulted in zero charged or credited to earnings for the years ended December 31, 2017, 2016 and 2015.