Annual report pursuant to Section 13 and 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.19.3.a.u2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2019
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:
 
(In Millions)
 
Derivative Assets
 
Derivative Liabilities
 
December 31, 2019
 
December 31, 2018
 
December 31, 2019
 
December 31, 2018
Derivative Instrument
Balance Sheet Location
 
Fair
Value
 
Balance
Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
 
Balance Sheet
Location
 
Fair
Value
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
 
 
$
—

 
Derivative assets
 
$
0.1

 
Other current liabilities
 
$
3.2

 
Other current liabilities
 
$
3.7

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Customer supply agreement
Derivative assets
 
44.5

 
Derivative assets
 
89.3

 
 
 
—

 
 
 
—

Provisional pricing arrangements
Derivative assets
 
1.3

 
Derivative assets
 
2.1

 
Other current liabilities
 
1.1

 
 
 
—

Total derivatives not designated as hedging instruments under ASC 815:
 
 
$
45.8

 
 
 
$
91.4

 
 
 
$
1.1

 
 
 
$
—

Total derivatives
 
 
$
45.8

 
 
 
$
91.5

 
 
 
$
4.3

 
 
 
$
3.7


Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]
The following table presents our outstanding hedge contracts:
 
 
(Quantities in Millions)
 
 
December 31, 2019
 
December 31, 2018
 
 
Notional Amount
 
Unit of Measure
 
Varying Maturity Dates
 
Notional Amount
 
Unit of Measure
 
Varying Maturity Dates
Natural gas
 
20.1
 
MMBtu
 
January 2020 - December 2021
 
1.8
 
MMBtu
 
January 2019 - August 2019
Diesel
 
0.8
 
Gallons
 
January 2020
 
11.0
 
Gallons
 
January 2019 - December 2019

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:
 
 
 
 
(In Millions)
Derivatives Not Designated as Hedging Instruments
 
Location of Gain (Loss) Recognized in
Income on Derivative
 
Year Ended
December 31,
 
 
 
 
2019
 
2018
 
2017
Customer supply agreements
 
Revenues from product sales and services
 
$
78.1

 
$
425.8

 
$
163.3

Provisional pricing arrangements
 
Revenues from product sales and services
 
(70.6
)
 
(3.2
)
 
(42.7
)
Commodity contracts
 
Cost of goods sold and operating expenses
 
—

 
—

 
(1.3
)
Total
 
 
 
$
7.5

 
$
422.6

 
$
119.3