Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS (Tables)

v3.8.0.1
DERIVATIVE INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2017
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 Unaudited Condensed Consolidated Financial Position as of September 30, 2017 and December 31, 2016:
 
 
(In Millions)
 
 
Derivative Assets
 
Derivative Liabilities
 
 
September 30, 2017
 
December 31, 2016
 
September 30, 2017
 
December 31, 2016
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
 
Derivative assets
 
$
84.8

 
Derivative assets
 
$
21.3

 
 
 
$
—

 
 
 
$
—

Provisional pricing arrangements
 
Derivative assets
 
4.7

 
Derivative assets
 
10.3

 
Derivative liabilities
 
9.3

 
Derivative liabilities
 
0.5

Commodity contracts
 
 
 
—

 
Derivative assets
 
1.5

 
 
 
—

 
 
 
—

Total derivatives not designated as hedging instruments under ASC 815
 
 
 
$
89.5

 
 
 
$
33.1

 
 
 
$
9.3

 
 
 
$
0.5

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 Unaudited Condensed Consolidated Operations for the three and nine months ended September 30, 2017 and 2016:
(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
 
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
 
 
2017
 
2016
 
2017
 
2016
Customer Supply Agreements
 
Product revenues
 
$
54.3

 
$
7.1

 
$
123.9

 
$
26.8

Provisional Pricing Arrangements
 
Product revenues
 
(13.1
)
 
4.5

 
(32.9
)
 
22.9

Commodity Contracts
 
Cost of goods sold and operating expenses
 
—

 
—

 
(1.3
)
 
—

Total
 
 
 
$
41.2

 
$
11.6

 
$
89.7

 
$
49.7