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Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Financial Instruments

The estimated fair values of our financial instruments are as follows: 

 

 

 

June 30, 2016

 

 

December 31, 2015

 

 

 

Carrying

amount

 

 

Estimated

fair value

 

 

Carrying

amount

 

 

Estimated

fair value

 

Assets (Liabilities), net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total long-term debt, including current portion

 

$

(873.8

)

 

$

(870.6

)

 

$

(988.3

)

 

$

(989.4

)

Foreign currency contracts

 

 

0.8

 

 

 

0.8

 

 

 

3.3

 

 

 

3.3

 

Natural gas contracts

 

 

0.3

 

 

 

0.3

 

 

 

(0.8

)

 

 

(0.8

)

Interest rate swap contracts

 

 

(7.6

)

 

 

(7.6

)

 

 

(10.6

)

 

 

(10.6

)

 

Fair Value Measurement of Assets and Liabilities

The fair value measurement of assets and liabilities measured at fair value on a recurring basis and reported on the consolidated balance sheets is summarized below: 

 

 

 

June 30, 2016

 

 

December 31, 2015

 

 

 

Fair value based on

 

 

Fair value based on

 

 

 

Quoted,

active

markets

 

 

Other

observable

inputs

 

 

Quoted,

active

markets

 

 

Other

observable

inputs

 

 

 

Level 1

 

 

Level 2

 

 

Level 1

 

 

Level 2

 

Assets (Liabilities), net:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency contracts

 

$

0.8

 

 

 

-

 

 

$

3.3

 

 

 

-

 

Natural gas contracts

 

 

-

 

 

$

0.3

 

 

 

-

 

 

$

(0.8

)

Interest rate swap contracts

 

 

-

 

 

 

(7.6

)

 

 

-

 

 

 

(10.6

)