DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative instruments

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

	December 31,
	2023		2022
Notional Value - Commodity	($ in millions)
Natural gas	$	63.2	$	107.6
Ethane	26.4		46.0
Metals	101.4		107.6
Total notional	$	191.0	$	261.2

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:

		December 31,
		2023		2022
	Balance Sheet Location	($ in millions)
Current Assets
Commodity contracts	Other current assets	$	2.1	$	1.5
Foreign currency contracts	Other current assets	—		0.3
Noncurrent Assets
Commodity contracts	Other assets	3.2		4.0
Total derivative assets(1)		$	5.3	$	5.8
Current Liabilities
Commodity contracts	Accrued liabilities	$	29.4	$	41.6
Foreign currency contracts	Accrued liabilities	2.5		0.9
Noncurrent Liabilities
Commodity contracts	Other liabilities	0.5		7.4
Total derivative liabilities(1)		$	32.4	$	49.9

(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) for the
		Years Ended December 31,
		2023		2022		2021
	Location of Gain (Loss)	($ in millions)
Cash Flow Hedges
Commodity contracts	Other comprehensive (loss) income	$	(53.6)	$	(15.6)	$	182.0
Commodity contracts	Cost of goods sold	(72.5)		58.2		180.1
Fair Value Hedges
Interest rate contracts	Interest expense	—		—		(1.8)
Not Designated as Hedging Instruments
Commodity contracts	Cost of goods sold	(0.6)		0.5		—
Foreign exchange contracts	Selling and administrative	(15.1)		(27.8)		(22.0)