Venezuelan Operations	12 Months Ended
Dec. 31, 2014
International Operations [Abstract]
Venezuelan Operations	Venezuelan Operations 2013 Devaluation and other 2013 government actions The Venezuelan government has maintained currency controls and a fixed official exchange rate since February 2003. The Commission for the Administration of Foreign Exchange (“CADIVI”) until recently controlled the sale and purchase of foreign currency in Venezuela. In 2011, CADIVI established an official exchange rate of 4.30 BsF to 1 U.S. dollar ("U.S. Dollar") (the “prior official rate”). On February 13, 2013, the Venezuelan government announced the devaluation of its currency from 4.30 BsF per U.S. dollar to 6.30 BsF per U.S. dollar (the “official rate”). The functional currency of the Company’s subsidiary in Venezuela is the U.S. dollar. Due to the impact of the devaluation on February 13, 2013, the Company recorded a pre-tax charge of $40.9 million in the year ended December 31, 2013 primarily related to the remeasurement of the local Venezuelan balance sheet on the date of the devaluation at the 6.30 BsF per U.S. dollar rate. At December 31, 2013, the Company was still able to import copper at the official rate. In 2013, the Company remeasured the monetary assets and liabilities denominated in bolivars of its Venezuelan subsidiary at the official rate. In March 2013, the Venezuelan government announced the creation of a new alternative currency exchange system authorizing certain companies that operate in designated industry sectors to exchange a limited volume of bolivars for dollars at a bid rate established via weekly auctions under the Complementary System of Foreign Currency Acquirement (“SICAD 1”). These auctions began weekly in October 2013 and the Central Bank of Venezuela began publishing the average exchange rate resulting from the weekly SICAD 1 auctions in December 2013. First quarter 2014 devaluation and first quarter 2014 government actions On January 24, 2014, the Venezuelan government announced the establishment of a dual exchange rate system. A rate of 6.30 BsF per U.S. dollar will be applied to priority sectors, while other sectors of the economy are eligible to apply an exchange rate determined based on the results of the Venezuelan central bank’s system of weekly SICAD 1 currency auctions to a wider range of transactions. In addition, on January 24, 2014, the Venezuelan government issued Exchange Agreement No. 25, which stated that the rate of exchange established in the most recent SICAD 1 auction would be used for payments related to foreign investments, royalties and the use and exploitation of patents, trademarks, licenses, franchises and technology. In January 2014, the Venezuelan government also announced the replacement of CADIVI with a new foreign currency administration, the National Center for Foreign Commerce (CENCOEX). An entity may seek approval to transact through the CENCOEX mechanism at the official rate; however, we understand that certain transactions may be approved at the latest published SICAD 1 rate depending on an entity’s facts and circumstances. On February 19, 2014, the Venezuelan government announced plans for another currency exchange mechanism (“SICAD 2”) which allows authorized foreign exchange operators, such as regulated banks and capital market brokers, to act as intermediaries in the sale of acquisitions of foreign currency. The SICAD 2 rate was intended to more closely resemble a market-driven exchange rate compared to the rates provided by Venezuela’s other regulated exchange mechanisms. SICAD 2 became effective on March 24, 2014 and the approximate SICAD 2 rate at December 31, 2014 was 50 BsF per U.S. dollar. After consultation with Venezuelan legal counsel, management had determined in the first quarter of 2014 that “foreign investments” in Exchange Agreement No. 25 should be interpreted to mean that future dividend remittances would be transacted at the exchange rate established through the SICAD 1 auction process, and should be used as the exchange rate required to remeasure the Company’s net monetary assets, after giving consideration to the U.S. dollar-denominated payables noted above which the Company expects the Venezuelan government to approve and settle by using U.S. dollars obtained at the official rate. Effective in the first quarter the Company expected that the majority of its Venezuelan subsidiary’s net monetary assets would have been remeasured at the SICAD 1 rate since that is the rate the Company believed, would have been applicable for future dividend remittances. In applying the March 28, 2014 SICAD 1 exchange rate of 10.8 BsF per U.S. dollar to certain of its monetary assets and liabilities, the Company recorded a devaluation charge of $83.1 million for the year ended December 31, 2014 which was included in Other income (expense) within the Consolidated Statements of Operations and Comprehensive Income (Loss). The Company participated in two SICAD 1 auctions in the second quarter of 2014. The Company was successful in one of the two auctions and was awarded and granted payment for $15.2 million for the purchase of copper pounds. At March 28, 2014, the Company did not intend to utilize the SICAD 2 foreign exchange mechanism at the prevailing exchange rates. The Company assessed a number of factors, including the limited number of SICAD 2 auctions held to date at the time, the Company’s ability to access the SICAD 2 exchange at that date, the restrictions placed on eligible participants, the amount of U.S. dollars available for purchase through the auction process, and the historical lack of official information about the resulting SICAD 2 rate at that date. At that time, based upon its assessment, the Company did not believe it would be appropriate to use rates from the SICAD 2 exchange system for financial reporting purposes. In addition to the aforementioned exchange controls, the Venezuelan President used decree power to pass the Law of Costs, Earnings, and Fair Profits, which became effective in January 2014, authorizing, among other things, the Venezuelan government to set maximum pricing limits in the private sector. Therefore, the majority of the Company’s product portfolio in Venezuela is subject to price controls, which restricts the Company’s ability to increase prices more than 30% higher than product costs. Until this law is removed or revised to allow for a higher level of pricing, the Venezuelan operating profit margin is expected to be lower than historical and previously projected future profit levels. Fourth quarter 2014 devaluation and fourth quarter 2014 government actions As of December 31, 2014, given increased uncertainties and lack of liquidity, the Company determined the SICAD 2 floating auction rate would be the appropriate rate to use for financial reporting purposes. As of December 30, 2014, the Venezuela President took over the Central Bank's exchange mechanisms, removing the head of the CENCOEX. In addition, the SICAD 1 auctions have been increasingly restricted. The Company, in one SICAD 1 auction, was awarded $11.2 million for the purchase of copper pounds in the fourth quarter of 2014; however, as of December 31, 2014 the $11.2 million awarded had not been authorized for payment. There have been no companies that have been authorized for payment since October that were awarded U.S. dollars through the SICAD 1 auctions. In addition, ongoing labor negotiations and expected continuing social unrest in Venezuela are expected to result in lower than historical and previously projected future profit levels. As of December 31, 2014, the Company has not participated in the SICAD 2 auctions, given the low dollar values awarded are generally not sufficient to purchase needed quantities of copper pounds. However, to maintain liquidity the Company intended to participate in future auctions. Although there were uncertainties related to the SICAD 2 auctions, at December 31, 2014 the Company believed the SICAD 2 floating rate would be applicable for future dividend remittances. As of December 31, 2014, the Company used the SICAD 2 rate of approximately 50 BsF per U.S. dollar to remeasure all of its BsF-denominated assets and liabilities of its Venezuelan subsidiary. In applying the December 31, 2014 SICAD 2 exchange rate of 50 BsF per U.S. dollar to certain of its monetary assets and liabilities, the Company recorded a devaluation charge of $90.2 million for the year ended December 31, 2014 which was included in Other income (expense) within the Consolidated Statements of Operations and Comprehensive Income (Loss). Other Venezuela accounting considerations In the first quarter of 2014, due to the estimated decline in operating results of the Venezuelan subsidiary related to the Venezuelan government's new foreign exchange laws, price controls and social unrest, the Company recognized a goodwill impairment charge of $155.1 million and an impairment charge of $93.4 million for the indefinite-lived trade name associated with the PDIC reporting unit in the year ended December 31, 2014. See Note 8 - Goodwill and Other Intangible Assets for additional information. In the fourth quarter of 2014, due to the change in the rate used to remeasure the financial statements of the Venezuelan subsidiary(from SICAD 1 to SICAD 2), the Company's estimated future operating results were determined to be lower than historical and previously projected future profit levels; therefore, the Company recognized an impairment charge of $29.3 million related to the long-lived assets. See Note 7 - Property, Plant and Equipment for additional information. In the fourth quarter of 2014, the Venezuelan government's default risk increased substantially as external finances continued to deteriorate due to the strong decrease in oil prices and downgrade in the credit rating. Based on the increased default risk and the downgrade in the credit rating the Company recognized a $10.3 million charge for the long-term value added tax receivable from the Venezuelan government. During 2014, the Venezuelan entity recorded $9.5 million of lower of cost or market charges. See Note 6 - Inventories for additional information. 2014 Venezuela results During the years ended December 31, 2014 and 2013, the Company settled $5.7 million and $55.9 million of U.S. dollar denominated intercompany payables and accounts payable in Venezuela, respectively. In the year ended December 31, 2014, $4.9 million was authorized at the official rate and $0.8 million was authorized at the 4.30 BsF per U.S. dollar rate. There were approximately $44.3 million of U.S. dollar payables which the Company expects to settle at the SICAD 2 rate as of December 31, 2014. For the year ended December 31, 2013 settlements were made at the rate of 4.30 BsF per U.S. dollar on U.S. dollar denominated intercompany payables and accounts payable. Settlements were made at the rate of of 4.30 BsF per U.S. dollar on U.S. dollar denominated intercompany payables and accounts payable in the year ended December 31, 2013 because the authorization for copper imports was submitted prior to the devaluation on February 13, 2013. For the year ended December 31, 2012, all transactions were settled at the 4.30 BsF per U.S. dollar rate, the official rate during this time. At December 31, 2014 and 2013, the Company’s total assets in Venezuela were approximately $43 million and $367 million and total liabilities were approximately $51 million and $103 million, respectively. At December 31, 2014 and 2013, included within total assets were BsF denominated monetary assets of approximately $37 million and $238 million, which consisted primarily of approximately $31 million and $194 million of cash, and approximately $2 million and $40 million of accounts receivable, respectively. At December 31, 2014 and 2013, included within total liabilities were BsF denominated monetary liabilities of approximately $7 million and $65 million, which consisted primarily of accounts payable and other accruals. Sales in Venezuela were 2% and 4% of our consolidated net sales for each of the years ended December 31, 2014 and 2013. Operating loss in Venezuela was 27% of our consolidated operating income loss or the year ended December 31, 2014 and operating income in Venezuela was 31% of our consolidated operating income for the year ended December 31, 2013, respectively. For the year ended December 31, 2014, Venezuela’s sales and cost of goods sold were approximately 100% and 66% BsF denominated and approximately 0% and 34% U.S. dollar denominated, respectively. For the year ended December 31, 2013, Venezuela’s sales and cost of goods sold were approximately 99% and 41% BsF denominated and approximately 1% and 59% U.S. dollar denominated, respectively. At December 31, 2014, $44.3 million U.S. dollar denominated intercompany payables remained pending over 180 days, which we expected would be settled at the SICAD 2 rate. At December 31, 2013, $37.6 million U.S. dollar denominated intercompany payables remained pending with CADIVI, which were expected to be settled at the 6.30 BsF per U.S. dollar rate. Approximately $22.4 million of the requested settlements had been pending up to 30 days, $15.1 million had been pending up to 180 days, and $0.1 million had pending over 180 days. Currency exchange controls in Venezuela continue to limit our ability to remit funds from Venezuela. We do not consider the net assets of Venezuela to be integral to our ability to service our debt and operational requirements.

Venezuelan Operations

2013 Devaluation and other 2013 government actions

The Venezuelan government has maintained currency controls and a fixed official exchange rate since February 2003. The Commission for the Administration of Foreign Exchange (“CADIVI”) until recently controlled the sale and purchase of foreign currency in Venezuela. In 2011, CADIVI established an official exchange rate of 4.30 BsF to 1 U.S. dollar ("U.S. Dollar") (the “prior official rate”). On February 13, 2013, the Venezuelan government announced the devaluation of its currency from 4.30 BsF per U.S. dollar to 6.30 BsF per U.S. dollar (the “official rate”). The functional currency of the Company’s subsidiary in Venezuela is the U.S. dollar. Due to the impact of the devaluation on February 13, 2013, the Company recorded a pre-tax charge of $40.9 million in the year ended December 31, 2013 primarily related to the remeasurement of the local Venezuelan balance sheet on the date of the devaluation at the 6.30 BsF per U.S. dollar rate. At December 31, 2013, the Company was still able to import copper at the official rate. In 2013, the Company remeasured the monetary assets and liabilities denominated in bolivars of its Venezuelan subsidiary at the official rate.

In March 2013, the Venezuelan government announced the creation of a new alternative currency exchange system authorizing certain companies that operate in designated industry sectors to exchange a limited volume of bolivars for dollars at a bid rate established via weekly auctions under the Complementary System of Foreign Currency Acquirement (“SICAD 1”). These auctions began weekly in October 2013 and the Central Bank of Venezuela began publishing the average exchange rate resulting from the weekly SICAD 1 auctions in December 2013.

First quarter 2014 devaluation and first quarter 2014 government actions

On January 24, 2014, the Venezuelan government announced the establishment of a dual exchange rate system. A rate of 6.30 BsF per U.S. dollar will be applied to priority sectors, while other sectors of the economy are eligible to apply an exchange rate determined based on the results of the Venezuelan central bank’s system of weekly SICAD 1 currency auctions to a wider range of transactions. In addition, on January 24, 2014, the Venezuelan government issued Exchange Agreement No. 25, which stated that the rate of exchange established in the most recent SICAD 1 auction would be used for payments related to foreign investments, royalties and the use and exploitation of patents, trademarks, licenses, franchises and technology. In January 2014, the Venezuelan government also announced the replacement of CADIVI with a new foreign currency administration, the National Center for Foreign Commerce (CENCOEX). An entity may seek approval to transact through the CENCOEX mechanism at the official rate; however, we understand that certain transactions may be approved at the latest published SICAD 1 rate depending on an entity’s facts and circumstances.

On February 19, 2014, the Venezuelan government announced plans for another currency exchange mechanism (“SICAD 2”) which allows authorized foreign exchange operators, such as regulated banks and capital market brokers, to act as intermediaries in the sale of acquisitions of foreign currency. The SICAD 2 rate was intended to more closely resemble a market-driven exchange rate compared to the rates provided by Venezuela’s other regulated exchange mechanisms. SICAD 2 became effective on March 24, 2014 and the approximate SICAD 2 rate at December 31, 2014 was 50 BsF per U.S. dollar.

After consultation with Venezuelan legal counsel, management had determined in the first quarter of 2014 that “foreign investments” in Exchange Agreement No. 25 should be interpreted to mean that future dividend remittances would be transacted at the exchange rate established through the SICAD 1 auction process, and should be used as the exchange rate required to remeasure the Company’s net monetary assets, after giving consideration to the U.S. dollar-denominated payables noted above which the Company expects the Venezuelan government to approve and settle by using U.S. dollars obtained at the official rate.

Effective in the first quarter the Company expected that the majority of its Venezuelan subsidiary’s net monetary assets would have been remeasured at the SICAD 1 rate since that is the rate the Company believed, would have been applicable for future dividend remittances. In applying the March 28, 2014 SICAD 1 exchange rate of 10.8 BsF per U.S. dollar to certain of its monetary assets and liabilities, the Company recorded a devaluation charge of $83.1 million for the year ended December 31, 2014 which was included in Other income (expense) within the Consolidated Statements of Operations and Comprehensive Income (Loss).

The Company participated in two SICAD 1 auctions in the second quarter of 2014. The Company was successful in one of the two auctions and was awarded and granted payment for $15.2 million for the purchase of copper pounds.

At March 28, 2014, the Company did not intend to utilize the SICAD 2 foreign exchange mechanism at the prevailing exchange rates. The Company assessed a number of factors, including the limited number of SICAD 2 auctions held to date at the time, the Company’s ability to access the SICAD 2 exchange at that date, the restrictions placed on eligible participants, the amount of U.S. dollars available for purchase through the auction process, and the historical lack of official information about the resulting SICAD 2 rate at that date. At that time, based upon its assessment, the Company did not believe it would be appropriate to use rates from the SICAD 2 exchange system for financial reporting purposes.

In addition to the aforementioned exchange controls, the Venezuelan President used decree power to pass the Law of Costs, Earnings, and Fair Profits, which became effective in January 2014, authorizing, among other things, the Venezuelan government to set maximum pricing limits in the private sector. Therefore, the majority of the Company’s product portfolio in Venezuela is subject to price controls, which restricts the Company’s ability to increase prices more than 30% higher than product costs. Until this law is removed or revised to allow for a higher level of pricing, the Venezuelan operating profit margin is expected to be lower than historical and previously projected future profit levels.

Fourth quarter 2014 devaluation and fourth quarter 2014 government actions

As of December 31, 2014, given increased uncertainties and lack of liquidity, the Company determined the SICAD 2 floating auction rate would be the appropriate rate to use for financial reporting purposes. As of December 30, 2014, the Venezuela President took over the Central Bank's exchange mechanisms, removing the head of the CENCOEX. In addition, the SICAD 1 auctions have been increasingly restricted. The Company, in one SICAD 1 auction, was awarded $11.2 million for the purchase of copper pounds in the fourth quarter of 2014; however, as of December 31, 2014 the $11.2 million awarded had not been authorized for payment. There have been no companies that have been authorized for payment since October that were awarded U.S. dollars through the SICAD 1 auctions. In addition, ongoing labor negotiations and expected continuing social unrest in Venezuela are expected to result in lower than historical and previously projected future profit levels.

As of December 31, 2014, the Company has not participated in the SICAD 2 auctions, given the low dollar values awarded are generally not sufficient to purchase needed quantities of copper pounds. However, to maintain liquidity the Company intended to participate in future auctions. Although there were uncertainties related to the SICAD 2 auctions, at December 31, 2014 the Company believed the SICAD 2 floating rate would be applicable for future dividend remittances.

As of December 31, 2014, the Company used the SICAD 2 rate of approximately 50 BsF per U.S. dollar to remeasure all of its BsF-denominated assets and liabilities of its Venezuelan subsidiary. In applying the December 31, 2014 SICAD 2 exchange rate of 50 BsF per U.S. dollar to certain of its monetary assets and liabilities, the Company recorded a devaluation charge of $90.2 million for the year ended December 31, 2014 which was included in Other income (expense) within the Consolidated Statements of Operations and Comprehensive Income (Loss).

Other Venezuela accounting considerations

In the first quarter of 2014, due to the estimated decline in operating results of the Venezuelan subsidiary related to the Venezuelan government's new foreign exchange laws, price controls and social unrest, the Company recognized a goodwill impairment charge of $155.1 million and an impairment charge of $93.4 million for the indefinite-lived trade name associated with the PDIC reporting unit in the year ended December 31, 2014. See Note 8 - Goodwill and Other Intangible Assets for additional information.

In the fourth quarter of 2014, due to the change in the rate used to remeasure the financial statements of the Venezuelan subsidiary(from SICAD 1 to SICAD 2), the Company's estimated future operating results were determined to be lower than historical and previously projected future profit levels; therefore, the Company recognized an impairment charge of $29.3 million related to the long-lived assets. See Note 7 - Property, Plant and Equipment for additional information.

In the fourth quarter of 2014, the Venezuelan government's default risk increased substantially as external finances continued to deteriorate due to the strong decrease in oil prices and downgrade in the credit rating. Based on the increased default risk and the downgrade in the credit rating the Company recognized a $10.3 million charge for the long-term value added tax receivable from the Venezuelan government.

During 2014, the Venezuelan entity recorded $9.5 million of lower of cost or market charges. See Note 6 - Inventories for additional information.

2014 Venezuela results

During the years ended December 31, 2014 and 2013, the Company settled $5.7 million and $55.9 million of U.S. dollar denominated intercompany payables and accounts payable in Venezuela, respectively. In the year ended December 31, 2014, $4.9 million was authorized at the official rate and $0.8 million was authorized at the 4.30 BsF per U.S. dollar rate. There were approximately $44.3 million of U.S. dollar payables which the Company expects to settle at the SICAD 2 rate as of December 31, 2014. For the year ended December 31, 2013 settlements were made at the rate of 4.30 BsF per U.S. dollar on U.S. dollar denominated intercompany payables and accounts payable. Settlements were made at the rate of of 4.30 BsF per U.S. dollar on U.S. dollar denominated intercompany payables and accounts payable in the year ended December 31, 2013 because the authorization for copper imports was submitted prior to the devaluation on February 13, 2013. For the year ended December 31, 2012, all transactions were settled at the 4.30 BsF per U.S. dollar rate, the official rate during this time.

At December 31, 2014 and 2013, the Company’s total assets in Venezuela were approximately $43 million and $367 million and total liabilities were approximately $51 million and $103 million, respectively. At December 31, 2014 and 2013, included within total assets were BsF denominated monetary assets of approximately $37 million and $238 million, which consisted primarily of approximately $31 million and $194 million of cash, and approximately $2 million and $40 million of accounts receivable, respectively. At December 31, 2014 and 2013, included within total liabilities were BsF denominated monetary liabilities of approximately $7 million and $65 million, which consisted primarily of accounts payable and other accruals.

Sales in Venezuela were 2% and 4% of our consolidated net sales for each of the years ended December 31, 2014 and 2013. Operating loss in Venezuela was 27% of our consolidated operating income loss or the year ended December 31, 2014 and operating income in Venezuela was 31% of our consolidated operating income for the year ended December 31, 2013, respectively. For the year ended December 31, 2014, Venezuela’s sales and cost of goods sold were approximately 100% and 66% BsF denominated and approximately 0% and 34% U.S. dollar denominated, respectively. For the year ended December 31, 2013, Venezuela’s sales and cost of goods sold were approximately 99% and 41% BsF denominated and approximately 1% and 59% U.S. dollar denominated, respectively.

At December 31, 2014, $44.3 million U.S. dollar denominated intercompany payables remained pending over 180 days, which we expected would be settled at the SICAD 2 rate. At December 31, 2013, $37.6 million U.S. dollar denominated intercompany payables remained pending with CADIVI, which were expected to be settled at the 6.30 BsF per U.S. dollar rate. Approximately $22.4 million of the requested settlements had been pending up to 30 days, $15.1 million had been pending up to 180 days, and $0.1 million had pending over 180 days. Currency exchange controls in Venezuela continue to limit our ability to remit funds from Venezuela. We do not consider the net assets of Venezuela to be integral to our ability to service our debt and operational requirements.