Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.6.0.2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
The following table presents the fair value of our derivative instruments and the classification of each in the Statements of Consolidated Financial Position as of December 31, 2016 and December 31, 2015:
 
(In Millions)
 
Derivative Assets
 
Derivative Liabilities
 
December 31, 2016
 
December 31, 2015
 
December 31, 2016
 
December 31, 2015
Derivative
Instrument
Balance Sheet Location
 
Fair
Value
 
Balance
Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Customer Supply Agreements
Other current assets
 
21.3

 
Other current assets
 
5.8

 
 
 
—

 
 
 
—

Provisional Pricing Arrangements
Other current assets
 
10.3

 
Other current assets
 
2.0

 
Other current liabilities
 
0.5

 
Other current liabilities
 
3.4

Commodity Contracts
Other current assets
 
1.5

 
 
 
—

 
 
 
—

 
Other current liabilities
 
0.6

Total derivatives not designated as hedging instruments under ASC 815:
 
 
$
33.1

 
 
 
$
7.8

 
 
 
$
0.5

 
 
 
$
4.0

Schedule Of Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance Location Table
The following summarizes the effect of our derivatives that are not designated as hedging instruments in the Statements of Consolidated Operations for the years ended December 31, 2016, 2015 and 2014:
(In Millions)
Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in
Income on Derivative
Amount of Gain/(Loss) Recognized in Income on Derivative
 
 
Year Ended
December 31,
 
 
2016
 
2015
 
2014
Customer Supply Agreements
Product revenues
$
41.7

 
$
27.1

 
$
187.8

Provisional Pricing Arrangements
Product revenues
49.0

 
(1.4
)
 
(9.5
)
Foreign Exchange Contracts
Other non-operating income (expense)
—

 
(3.6
)
 
—

Foreign Exchange Contracts
Product revenues
—

 
(12.6
)
 
—

Commodity Contracts
Cost of goods sold and operating expenses
1.9

 
(4.0
)
 
—

Total
 
$
92.6

 
$
5.5

 
$
178.3