Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives Not Designated as Hedging Instruments

The following table sets forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of September 30, 2020 and December 31, 2019, respectively:

	Asset Fair Value
	September 30, 2020		December 31, 2019
Commodity contracts (1)	$	17.0	$	19.7
Foreign exchange contracts (2)	1.0		—
Total	$	18.0	$	19.7

	Liability Fair Value
	September 30, 2020		December 31, 2019
Commodity contracts (1)	$	5.7	$	3.6
Foreign exchange contracts (2)	—		0.6
Total	$	5.7	$	4.2

(1) Commodity contracts reflect our outstanding LME forward financial sales contracts, MWP forward financial sales contracts, Hawesville L4 power price swaps, fixed for floating swaps, and Nord Pool power price swaps. At September 30, 2020 and December 31, 2019, $0.1 million and $0.2 million of Due from affiliates and $1.3 million and $0.5 million of Due from affiliates - less current portion, respectively, is related to commodity contract assets with Glencore.

(2) Foreign exchange contracts reflect our outstanding FX swaps.

Schedule of Derivative Instruments

The following table summarizes the net (loss) gain on forward and derivative contracts:

	Three months ended September 30,				Nine months ended September 30,
	2020		2019		2020		2019
Commodity contracts(3)	$	(11.0)	$	10.6	$	0.8	$	11.2
Foreign exchange contracts	1.6		(0.3)		(2.7)		(0.5)
Total	$	(9.4)	$	10.3	$	(1.9)	$	10.7

(3) For the three months ended September 30, 2020 and 2019, $(4.6) million and $1.9 million of the net (loss) gain, respectively, was with Glencore. For the nine months ended September 30, 2020 and 2019, $0.1 million and $2.7 million of net (loss) gain, respectively, was with Glencore.