Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Feb. 04, 2014 | |
Entity Registrant Name | 'Aleris Corporation | ' |
Entity Central Index Key | '0001518587 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Document Type | '10-K | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 31,234,390 |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'Yes | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Public Float | $0 | ' |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $60.10 | $592.90 |
Accounts receivable (net of allowance of $7.7 and $8.1 at December 31, 2013 and 2012, respectively) | 376.9 | 384 |
Inventories | 683.4 | 683.4 |
Deferred income taxes | 7.1 | 12.9 |
Prepaid expenses and other current assets | 31.5 | 26.3 |
Total Current Assets | 1,159 | 1,699.50 |
Property, plant and equipment, net | 1,157.70 | 1,077 |
Intangible assets, net | 43.5 | 45.6 |
Deferred income taxes | 45.2 | 36.8 |
Other long-term assets | 67.5 | 59.3 |
Total Assets | 2,472.90 | 2,918.20 |
Current Liabilities | ' | ' |
Accounts payable | 303.2 | 341.2 |
Accrued liabilities | 200.9 | 302.4 |
Deferred income taxes | 3.9 | 12 |
Current portion of long-term debt | 8.3 | 9 |
Total Current Liabilities | 516.3 | 664.6 |
Long-term debt | 1,229.10 | 1,218.90 |
Deferred income taxes | 4.4 | 8.8 |
Accrued pension benefits | 228.5 | 258.2 |
Accrued postretirement benefits | 40.9 | 52 |
Other long-term liabilities | 79.3 | 75.9 |
Total Long-Term Liabilities | 1,582.20 | 1,613.80 |
Redeemable noncontrolling interest | 5.7 | 5.7 |
Stockholders' Equity | ' | ' |
Common stock; par value $.01; 45,000,000 shares authorized and 31,229,064 and 31,097,272 shares issued at December 31, 2013 and 2012, respectively | 0.3 | 0.3 |
Preferred Stock; par value $.01; 1,000,000 shares authorized; none issued | 0 | 0 |
Additional paid-in capital | 401.9 | 573.9 |
Retained (deficit) earnings | -47.6 | 122.1 |
Accumulated other comprehensive income (loss) | 13.8 | -62.4 |
Total Aleris Corporation Equity | 368.4 | 633.9 |
Noncontrolling interest | 0.3 | 0.2 |
Total Equity | 368.7 | 634.1 |
Total Liabilities and Equity | $2,472.90 | $2,918.20 |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts receivable | $7.70 | $8.10 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 45,000,000 | 45,000,000 |
Common stock, shares issued | 31,229,064 | 31,097,272 |
Preferred Stock, Par or Stated Value Per Share | $0.01 | $0.01 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Redeemable preferred stock, shares issued | 0 | 0 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues | $4,332.50 | $4,412.40 | $4,826.40 |
Cost of sales | 4,042.70 | 3,947.20 | 4,354.30 |
Gross profit | 289.8 | 465.2 | 472.1 |
Selling, general and administrative expenses | 238.1 | 269 | 274.3 |
Restructuring charges | 10.7 | 9.6 | 4.4 |
Gains on derivative financial instruments | -26.4 | -1.3 | 0 |
Other operating expense (income), net | 1.2 | 1.1 | -2.4 |
Operating income | 66.2 | 186.8 | 195.8 |
Interest expense, net | 97.9 | 52.4 | 46.3 |
Other expense (income), net | 7 | 2 | -7.5 |
(Loss) income before income taxes | -38.7 | 132.4 | 157 |
(Benefit from) provision for income taxes | -2.6 | 25.4 | -4.2 |
Net (loss) income | -36.1 | 107 | 161.2 |
Net income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.4 |
Net (loss) income attributable to Aleris Corporation | -37.1 | 107.5 | 161.6 |
Net (loss) income available to common stockholders | ($37.50) | $101.80 | $161.20 |
Basic (loss) earnings per share | ($1.20) | $3.28 | $5.20 |
Diluted (loss) earnings per share | ($1.20) | $3.08 | $4.91 |
Dividend declared per common share | $10 | $0 | $16 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net (loss) income | ($36.10) | $107 | $161.20 |
Other comprehensive income (loss), before tax, currency translation adjustments | 33.2 | 10.8 | -19 |
Other comprehensive income (loss), before tax, pension and other postretirement liability adjustments | 44.2 | -56.1 | -39.9 |
Other comprehensive income (loss), before tax | 77.4 | -45.3 | -58.9 |
Income tax expense (benefit) related to items of other comprehensive income (loss) | 1.2 | -11.9 | -3.4 |
Other comprehensive income (loss), net of tax | 76.2 | -33.4 | -55.5 |
Comprehensive income | 40.1 | 73.6 | 105.7 |
Comprehensive income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.2 |
Comprehensive income attributable to Aleris Corporation | $39.10 | $74.10 | $105.90 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
USD ($) | USD ($) | USD ($) | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | |
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||
USD ($) | CNY | CNY | CNY | ||||
Operating activities | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income | ($36.10) | $107 | $161.20 | ' | ' | ' | ' |
Adjustments to reconcile net income to net cash used by operating activities: | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 129.5 | 84.8 | 70.3 | ' | ' | ' | ' |
(Benefit from) provision for deferred income taxes | -13.7 | 10.4 | -33.6 | ' | ' | ' | ' |
Stock-based compensation expense | 14.3 | 11.4 | 10.1 | ' | ' | ' | ' |
Unrealized (gains) losses on derivative financial instruments | -0.7 | -14.3 | 37.8 | ' | ' | ' | ' |
Currency exchange losses (gains) on debt | 3.9 | -3.4 | 5.4 | ' | ' | ' | ' |
Amortization of debt issuance costs | 7.7 | 6.5 | 6.3 | ' | ' | ' | ' |
Other | 2.4 | -1.5 | 8.9 | ' | ' | ' | ' |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' | ' | ' |
Change in accounts receivable | 16 | 21.4 | -13 | ' | ' | ' | ' |
Change in inventories | 15.7 | -88.4 | 15.7 | ' | ' | ' | ' |
Change in other assets | -20.5 | -33.1 | -8.5 | ' | ' | ' | ' |
Change in accounts payable | -31.3 | 42.3 | -18.4 | ' | ' | ' | ' |
Change in accrued liabilities | -50.5 | 6.4 | 42.5 | ' | ' | ' | ' |
Net cash provided by operating activities | 31.9 | 152.5 | 266.9 | ' | ' | ' | ' |
Investing activities | ' | ' | ' | ' | ' | ' | ' |
Purchase of a business | 0 | -21.5 | 0 | ' | ' | ' | ' |
Payments for property, plant and equipment | -238.3 | -390.2 | -204.6 | ' | ' | ' | ' |
Proceeds from the sale of property, plant and equipment | 2.9 | 0.5 | 7.7 | ' | ' | ' | ' |
Other | 0 | 0.1 | -0.4 | ' | ' | ' | ' |
Net cash used by investing activities | -235.4 | -411.1 | -197.3 | ' | ' | ' | ' |
Financing activities | ' | ' | ' | ' | ' | ' | ' |
Proceeds from ABL Facility | 30.3 | 0 | 0 | ' | ' | ' | ' |
Payments on ABL Facility | -30.3 | 0 | 0 | ' | ' | ' | ' |
Proceeds from Zhenjiang term loans | 0.2 | 130.9 | 56.7 | ' | ' | ' | ' |
Proceeds from Zhenjiang revolver | ' | ' | ' | 4.1 | 4.1 | 0 | 0 |
Payments on Zhenjiang revolver | ' | ' | ' | -4.1 | -4.1 | 0 | 0 |
Net (payments on) proceeds from other long-term debt | -5.2 | -0.2 | 1.1 | ' | ' | ' | ' |
Debt issuance costs | 0 | -2.3 | -4.4 | ' | ' | ' | ' |
Redemption of noncontrolling interest | -8.9 | 0 | 0 | ' | ' | ' | ' |
Contributions from noncontrolling interests | 0 | 0 | 7.6 | ' | ' | ' | ' |
Dividends paid | -313 | 0 | -500 | ' | ' | ' | ' |
Other | -4.7 | -2.5 | 2.7 | ' | ' | ' | ' |
Net cash (used) provided by financing activities | -331.6 | 617.2 | 53.7 | ' | ' | ' | ' |
Effect of exchange rate differences on cash and cash equivalents | 2.3 | 2.9 | -5.4 | ' | ' | ' | ' |
Net (decrease) increase in cash and cash equivalents | -532.8 | 361.5 | 117.9 | ' | ' | ' | ' |
Cash and cash equivalents at beginning of period | 592.9 | 231.4 | 113.5 | ' | ' | ' | ' |
Cash and cash equivalents at end of period | $60.10 | $592.90 | $231.40 | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flows (Parenthetical) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
7 7/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | |
Discount on senior notes | $8.70 | $10 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Parent [Member] | Noncontrolling Interest [Member] | Stockholders' Equity, Total [Member] | Redeemable Noncontrolling Interest [Member] |
In Millions | |||||||||
Total Equity at beginning of period at Dec. 31, 2010 | ' | $0.30 | $839.60 | $71.20 | $26.70 | $937.80 | $0 | $937.80 | $5.20 |
Net (loss) income attributable to Aleris Corporation | 161.6 | 0 | 0 | 161.6 | 0 | 161.6 | -0.4 | 161.2 | 0 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | 0 | 0 | 0 | -55.7 | -55.7 | 0.2 | -55.5 | 0 |
Contributions from noncontrolling interests | 7.6 | 0 | 0 | 0 | 0 | 0 | 7.6 | 7.6 | 0 |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | 0 | 0 | 0 | 0 | 0 | -1.2 | -1.2 | 0 |
Stock-based compensation activity | ' | 0 | 11.7 | 0 | 0 | 11.7 | 0 | 11.7 | 0 |
Dividends paid | -500 | 0 | -287.2 | -212.8 | 0 | -500 | 0 | -500 | -0.2 |
Other | ' | 0 | -0.7 | -0.3 | 0 | -1 | 0.1 | -0.9 | 0.4 |
Total Equity at end of period at Dec. 31, 2011 | ' | 0.3 | 563.4 | 19.7 | -29 | 554.4 | 6.3 | 560.7 | 5.4 |
Net (loss) income attributable to Aleris Corporation | 107.5 | 0 | 0 | 107.5 | 0 | 107.5 | 0 | 107.5 | -0.5 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | 0 | 0 | 0 | -33.4 | -33.4 | 0 | -33.4 | 0 |
Contributions from noncontrolling interests | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | 0 | 0 | 0 | 0 | 0 | -0.9 | -0.9 | 0 |
Stock-based compensation activity | ' | 0 | 10.1 | 0 | 0 | 10.1 | 0 | 10.1 | 0 |
Dividends paid | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassification of noncontrolling interest | ' | 0 | 0 | 0 | 0 | 0 | -4.7 | -4.7 | 4.7 |
Redeemable noncontrolling interest redemption value adjustments | ' | 0 | 0 | -4.7 | 0 | -4.7 | 0 | -4.7 | 4.7 |
Adjustments to noncontrolling interest for change in ownership | ' | 0 | 0.5 | 0 | 0 | 0.5 | -0.5 | 0 | -8.9 |
Other | ' | 0 | -0.1 | -0.4 | 0 | -0.5 | 0 | -0.5 | 0.3 |
Total Equity at end of period at Dec. 31, 2012 | 634.1 | 0.3 | 573.9 | 122.1 | -62.4 | 633.9 | 0.2 | 634.1 | 5.7 |
Net (loss) income attributable to Aleris Corporation | -37.1 | 0 | 0 | -37.1 | 0 | -37.1 | 1 | -36.1 | 0 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | ' | 0 | 0 | 0 | 76.2 | 76.2 | 0 | 76.2 | 0 |
Contributions from noncontrolling interests | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders | ' | 0 | 0 | 0 | 0 | 0 | -0.9 | -0.9 | 0 |
Stock-based compensation activity | ' | 0 | 10.9 | 0 | 0 | 10.9 | 0 | 10.9 | 0 |
Modification of stock option resulting in liability classification | ' | 0 | -2.4 | 0 | 0 | -2.4 | 0 | -2.4 | 0 |
Dividends paid | -313 | 0 | -180.9 | -132.1 | 0 | -313 | 0 | -313 | -0.4 |
Redeemable noncontrolling interest redemption value adjustments | 4.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | 0 | 0.4 | -0.5 | 0 | -0.1 | 0 | -0.1 | 0.4 |
Total Equity at end of period at Dec. 31, 2013 | $368.70 | $0.30 | $401.90 | ($47.60) | $13.80 | $368.40 | $0.30 | $368.70 | $5.70 |
Basis_Of_Presentation_Notes
Basis Of Presentation (Notes) | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis Of Presentation | ' | |
1 | BASIS OF PRESENTATION | |
Nature of Operations | ||
Aleris Corporation and all of its subsidiaries (collectively, except where the context otherwise requires, referred to as “Aleris,” “we,” “our,” “us,” and the “Company” or similar terms) is a Delaware corporation with its principle executive offices located in Cleveland, Ohio. The principal business of the Company involves the production of aluminum rolled and extruded products as well as the recycling of aluminum and specification alloy manufacturing. We produce aluminum sheet and fabricated products using direct-chill and continuous cast processes. Our aluminum sheet products are sold to customers and distributors serving the aerospace, automotive, transportation, building and construction, containers and packaging and metal distribution industries. Our extruded products are targeted at high demand end-uses in the aerospace, automotive, transportation (rail and shipbuilding), building and construction, electrical and mechanical engineering industries. In addition, we perform value-added fabrication to most of our extruded products. Our aluminum recycling operations primarily purchase scrap aluminum on the open market, recycle it, and sell it in molten or ingot form. In addition, these operations recycle customer-owned aluminum scrap for a fee (tolling). Our recycling customers are some of the world’s largest aluminum, steel and automotive companies. | ||
Basis of Presentation | ||
Aleris Corporation is a holding company and currently conducts its business and operations through its direct wholly owned subsidiary, Aleris International, Inc. and its consolidated subsidiaries. Aleris International, Inc. is referred to herein as Aleris International. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Use of Accounting Estimates | |||||||||||||
The consolidated financial statements are prepared in conformity with GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are inherent in the valuations of derivatives, property, plant and equipment, intangible assets, the assumptions used to estimate the fair value of share-based payments, pension and postretirement benefit obligations, workers’ compensation, medical and environmental liabilities, deferred tax asset valuation allowances, reserves for uncertain tax positions and allowances for uncollectible accounts receivable. | |||||||||||||
Principles of Consolidation | |||||||||||||
The accompanying consolidated financial statements include the accounts of the Company and our majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. In 2010, we signed a joint venture agreement with Zhenjiang Dingsheng Aluminum Industries Joint-Stock Co., Ltd. (“Dingsheng”), through our wholly owned subsidiary, Aleris Aluminum Zhenjiang Co., Ltd. (“Aleris Zhenjiang”), to construct an aluminum rolling mill in Zhenjiang City, Jiangsu Province in China (the “Zhenjiang rolling mill”). | |||||||||||||
In July 2012, our joint venture contract with Dingsheng was amended and restated to increase our equity interest in Aleris Zhenjiang from 81% to 93%, and again in October 2012 to increase our equity interest to 96%. Neither change resulted in a change in control, and therefore, the adjustments to the carrying value of the noncontrolling interest (representing Dingsheng’s new ownership interest in the net assets of Aleris Zhenjiang) was recognized directly in equity attributable to Aleris. The amended and restated joint venture agreement also included an option by which Dingsheng had the unilateral right to require us to purchase Dingsheng’s noncontrolling interest in Aleris Zhenjiang. The redemption price was calculated as the cumulative amount of paid-in registered capital plus accrued interest beginning with the date the actual contributions were made. During the year ended December 31, 2012, we recorded a $4.7 increase to the carrying value of the redeemable noncontrolling interest under the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 480, “Distinguishing Liabilities from Equity.” | |||||||||||||
On December 31, 2012, we increased our equity interest in Aleris Zhenjiang to 100%, and as a result, the adjustments to the carrying value of redeemable noncontrolling interest was recognized directly in equity attributable to Aleris in 2012. During the second quarter of 2013, we paid the $8.9 redemption amount pursuant to the contractual arrangement, which was recorded in “Accrued liabilities” in the Consolidated Balance Sheet at December 31, 2012. The operating losses of the Zhenjiang rolling mill, which began limited production of semi-finished rolled aluminum products in the beginning of 2013, are included within the Company’s consolidated financial statements. The operating losses primarily consist of start-up expenses while the mill continues to ramp up to full production and expenses associated with obtaining certification to produce aircraft sheet and plate. | |||||||||||||
Business Combinations | |||||||||||||
All business combinations are accounted for using the acquisition method as prescribed by ASC 805, “Business Combinations” (“ASC 805”). The purchase price paid is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price over the fair value of the net assets acquired is recorded as goodwill. | |||||||||||||
Revenue Recognition and Shipping and Handling Costs | |||||||||||||
Revenues are recognized when title transfers and risk of loss passes to the customer in accordance with the provisions of the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 104, “Revenue Recognition” (codified in ASC 605). In the case of rolled aluminum product, title and risk of loss do not typically pass until the product reaches the customer, although on certain overseas shipments, title and risk of loss pass upon loading at the port of departure or unloading at the port of entry. For material that is tolled, revenue is recognized upon the performance of the tolling services for customers. For material that is consigned, revenue is not recognized until the product is used by the customer. Shipping and handling costs are included within “Cost of sales” in the Consolidated Statements of Operations. | |||||||||||||
Cash Equivalents | |||||||||||||
All highly liquid investments with a maturity of three months or less when purchased are considered cash equivalents. The carrying amount of cash equivalents approximates fair value because of the short maturity of those instruments. | |||||||||||||
Accounts Receivable Allowances and Credit Risk | |||||||||||||
We extend credit to our customers based on an evaluation of their financial condition; generally, collateral is not required. Substantially all of the accounts receivable associated with our European operations and a portion of the accounts receivable associated with our China operations are insured against loss by third party credit insurers. We maintain an allowance against our accounts receivable for the estimated probable losses on uncollectible accounts and sales returns and allowances. The valuation reserve is based upon our historical loss experience, current economic conditions within the industries we serve as well as our determination of the specific risk related to certain customers. Accounts receivable are charged off against the reserve when, in management’s estimation, further collection efforts would not result in a reasonable likelihood of receipt, or, if later, as proscribed by statutory regulations. The movement of the accounts receivable allowances is as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 8.1 | $ | 8.7 | $ | 8.7 | |||||||
Expenses for uncollectible accounts, sales returns and allowances, net of recoveries | 42.7 | 39.9 | 57.6 | ||||||||||
Receivables written off against the valuation reserve | (43.1 | ) | (40.5 | ) | (57.6 | ) | |||||||
Balance at end of the period | $ | 7.7 | $ | 8.1 | $ | 8.7 | |||||||
Concentration of credit risk with respect to trade accounts receivable is limited due to the large number of customers in various industry segments comprising our customer base. | |||||||||||||
Inventories | |||||||||||||
Our inventories are stated at the lower of cost or net realizable value. Cost is determined primarily on the average cost or specific identification method and includes material, labor and overhead related to the manufacturing process. We recorded charges associated with lower of cost or net realizable value adjustments of $4.5, $1.2 and $2.0 within cost of sales for the years ended December 31, 2013, 2012 and 2011, respectively. The cost of inventories acquired in business combinations are recorded at fair value in accordance with ASC 805. Our consigned inventory held at third party warehouses and customer locations was approximately $23.6 and $19.5 as of December 31, 2013 and December 31, 2012, respectively, and is included in finished goods inventory. | |||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment is stated at cost, net of asset impairments. The cost of property, plant and equipment acquired in business combinations represents the fair value of the acquired assets at the time of acquisition. | |||||||||||||
The fair values of asset retirement obligations are capitalized to the related long-lived asset at the time the obligation is incurred and is depreciated over the remaining useful life of the related asset. Major renewals and improvements that extend an asset’s useful life are capitalized to property, plant and equipment. Major repair and maintenance projects are expensed over periods not exceeding 18 months while normal maintenance and repairs are expensed as incurred. Depreciation is primarily computed using the straight-line method over the estimated useful lives of the related assets, as follows: | |||||||||||||
Buildings and improvements | 5 - 33 years | ||||||||||||
Production equipment and machinery | 2 - 25 years | ||||||||||||
Office furniture, equipment and other | 3 - 10 years | ||||||||||||
The construction costs of landfills used to store by-products of the recycling process are depreciated as space in the landfills is used based on the unit of production method. Additionally, used space in the landfill is determined periodically either by aerial photography or engineering estimates. | |||||||||||||
Interest is capitalized in connection with major construction projects. Capitalized interest costs are as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Capitalized interest | $ | 7.7 | $ | 14.8 | $ | 2 | |||||||
Intangible Assets | |||||||||||||
Intangible assets are primarily related to trade names, technology and customer relationships. Acquired intangible assets are recorded at their estimated fair value in the allocation of the purchase price paid. Intangibles with indefinite useful lives are not amortized and intangibles with finite useful lives are amortized over their estimated useful lives, ranging from 15 to 25 years. See Note 6, “Intangible Assets,” for additional information. | |||||||||||||
Impairment of Property, Plant, Equipment and Finite-Lived Intangible Assets | |||||||||||||
We review our long-lived assets for impairment when changes in circumstances indicate that the carrying amount may not be recoverable. Once an impairment indicator has been identified, the asset impairment test is a two-step process. The first step consists of determining whether the sum of the estimated undiscounted future cash flows attributable to the specific asset group being tested is less than its carrying value. Estimated future cash flows used to test for recoverability include only the future cash flows that are directly associated with and are expected to arise as a direct result of the use and eventual disposition of the relevant asset group. If the carrying value of the asset group exceeds the future undiscounted cash flows expected from the asset group, a second step is performed to compute the extent of the impairment. Impairment charges are determined as the amount by which the carrying value of the asset group exceeds the estimated fair value of the asset group. | |||||||||||||
As outlined in ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”),the fair value measurement of our long-lived assets assumes the highest and best use of the asset by market participants, considering the use of the asset that is physically possible, legally permissible, and financially feasible at the measurement date. Highest and best use is determined based on the use of the asset by market participants, even if the intended use of the asset by the Company is different. The highest and best use of an asset establishes the valuation premise. The valuation premise is used to measure the fair value of an asset. ASC 820-10-35-10 states that the valuation premise of an asset is either of the following: | |||||||||||||
▪ | In-use: The highest and best use of the asset is in-use if the asset would provide maximum value to market participants principally through its use in combination with other assets as a group (as installed or otherwise configured for use). | ||||||||||||
▪ | In-exchange: The highest and best use of the asset is in-exchange if the asset would provide maximum value to market participants principally on a stand-alone basis. | ||||||||||||
Once a premise is selected, the approaches considered in the estimation of the fair values of the Company’s long-lived assets tested for impairment, which represent level 3 measurements within the fair value hierarchy, include the following: | |||||||||||||
▪ | Income approach: The income approach measures the value of an asset by estimating the present value of its future economic benefits. These benefits include earnings, cost savings, tax deductions, and proceeds from disposition. Value indications are developed using this technique by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation, and the risk associated with the asset. | ||||||||||||
▪ | Sales comparison approach: The sales comparison approach takes into account arm’s-length exchange prices in actual transactions, through an analysis of recent sales of comparable property and of asking prices for assets currently offered for sale. This process involves comparison and correlation between the subject asset and other comparable assets. Adjustments are then made to reflect differences in location, time and terms of sale, and physical and functional characteristics between the subject asset and the comparable assets to indicate a fair value of the subject asset. | ||||||||||||
▪ | Cost approach: The cost approach uses the concept of replacement cost as an indicator of value. The premise of this approach is that a prudent investor would typically pay no more for an asset than the amount for which the asset could be replaced. Adjustments are then made to reflect the losses in value resulting from physical deterioration and functional and economic obsolescence. In applying the cost approach to the valuation of tangible assets, the Company typically starts with either an estimate of the cost of reproduction new or an estimate of replacement cost new. Additional adjustments are necessary to account for other forms of depreciation resulting from physical deterioration, functional obsolescence (inefficiencies or inadequacies of the property itself when compared to a more efficient or less costly replacement properties), and economic obsolescence. Economic obsolescence is the loss in value or usefulness of a property caused by factors external to the property, such as increased costs of raw materials, labor, or utilities (without offsetting increases in product prices); reduced demand for the product; increased competition; environmental or other regulations; inflation or high interest rates or similar factors. | ||||||||||||
During 2013, no indicators of impairment were identified in accordance with ASC 360, “Property, Plant, and Equipment” and ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”). | |||||||||||||
Indefinite-Lived Intangible Assets | |||||||||||||
Indefinite-lived intangible assets are tested for impairment as of October 1st of each year and may be tested more frequently if changes in circumstances or the occurrence of events indicates that a potential impairment exists. | |||||||||||||
Under ASC 350, intangible assets determined to have indefinite lives are not amortized, but are tested for impairment at least annually. As part of the annual impairment test, the non-amortized intangible assets are reviewed to determine if the indefinite status remains appropriate. Based on the annual test performed as of October 1, 2013, no impairments relating to our indefinite lived intangible assets were necessary. | |||||||||||||
Deferred Financing Costs | |||||||||||||
The costs related to the issuance of debt are capitalized and amortized over the terms of the related debt agreements as interest expense using the effective interest method. | |||||||||||||
Research and Development | |||||||||||||
The termination of a third party research and development agreement in 2011 allowed research process and development work to be performed internally. Since that time, our Research and Development organization has grown to include three locations in Europe along with a support staff focused on new product and alloy offerings and process performance technology. Excluding $11.9 of contract termination costs recorded in “Selling, general and administrative expenses” in the Consolidated Statements of Operations during the third quarter of 2011, research and development expenses were $12.4, $7.3 and $16.3 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Stock-Based Compensation | |||||||||||||
We recognize compensation expense for stock options, restricted stock units and restricted shares under the provisions of ASC 718, “Compensation—Stock Compensation,” using the non-substantive vesting period approach, in which the expense (net of estimated forfeitures) is recognized ratably over the requisite service period based on the grant date fair value. The fair value of each new stock option is estimated on the date of grant using a Black-Scholes model. Determining the fair value of stock options at the grant date requires judgment, including estimates for the average risk-free interest rate, dividend yield, volatility, annual forfeiture rate, and exercise behavior. The fair value of restricted stock units and restricted shares are based on the estimated fair value of our common stock on the date of grant. The fair value of our common stock is estimated based upon a present value technique using discounted cash flows, forecasted over a five-year period with residual growth rates thereafter, and a market comparable approach. From these two approaches, the discounted cash flow analysis is weighted at 50% and the comparable public company analysis is weighted at 50%. | |||||||||||||
The discounted cash flow analysis is based on our projected financial information which includes a variety of estimates and assumptions. While we consider such estimates and assumptions reasonable, they are inherently subject to uncertainties and a wide variety of significant business, economic and competitive risks, many of which are beyond our control and may not materialize. Changes in these estimates and assumptions may have a significant effect on the determination of the fair value of our common stock. | |||||||||||||
The discounted cash flow analysis is based on production volume projections developed by internal forecasts, as well as commercial, wage and benefit and inflation assumptions. The discounted cash flow analysis includes the sum of (i) the present value of the projected unlevered cash flows for a five-year period (the “Projection Period”); and (ii) the present value of a terminal value, which represents the estimate of value attributable to periods beyond the Projection Period. For 2013, all cash flows were discounted using weighted-average cost of capital (“WACC”) percentages ranging from 12.0% to 14.0%. To calculate the terminal value, a perpetuity growth rate approach is used. For 2013, a growth rate of three percent was used and was determined based on research of long-term aluminum demand growth rates. Other significant assumptions include future capital expenditures and changes in working capital requirements. | |||||||||||||
The comparable public company analysis identifies a group of comparable companies giving consideration to, among other relevant characteristics, similar lines of business, business risks, growth prospects, business maturity, market presence, leverage, size and scale of operations. The analysis compares the public market implied fair value for each comparable public company to its historical and projected net sales, earnings before interest and taxes (“EBIT”) and earnings before interest, taxes, depreciation and amortization (“EBITDA”). The calculated range of multiples for the comparable companies is used to estimate a range of 7.5x to 18.0x, 5.0x to 9.5x and 0.43x to 0.65x, which is applied to our historical and projected EBIT, EBITDA and net sales, respectively, to determine a range of fair values. | |||||||||||||
Total stock-based compensation expense included in “Selling, general and administrative expenses” in the Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 was $14.3, $11.4 and $10.1, respectively. | |||||||||||||
Derivatives and Hedging | |||||||||||||
We are engaged in activities that expose us to various market risks, including changes in the prices of primary aluminum, aluminum alloys, scrap aluminum, copper, zinc and natural gas, as well as changes in currency and interest rates. Certain of these financial exposures are managed as an integral part of our risk management program, which seeks to reduce the potentially adverse effects that the volatility of the markets may have on operating results. We do not hold or issue derivative financial instruments for trading purposes. We maintain a natural gas pricing strategy to minimize significant fluctuations in earnings caused by the volatility of gas prices. Our metal pricing strategy is designed to minimize significant, unanticipated fluctuations in earnings caused by the volatility of aluminum prices. | |||||||||||||
Generally, we enter into master netting arrangements with our counterparties and offset net derivative positions with the same counterparties against amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under those arrangements in our Consolidated Balance Sheet. For classification purposes, we record the net fair value of all positions expected to settle in less than one year with these counterparties as a net current asset or liability and all long-term positions as a net long-term asset or liability. At December 31, 2013 and 2012, we had posted no cash collateral. | |||||||||||||
The fair values of our derivative financial instruments are recognized as assets or liabilities at the balance sheet date. Fair values for our metal and natural gas derivative instruments are determined based on the differences between contractual and forward rates of identical hedge positions as of the balance sheet date. Our currency derivative instruments are valued utilizing observable or market-corroborated inputs such as exchange rates, volatility and forward yield curves. In accordance with the requirements of ASC 820, we have included an estimate of the risk associated with non-performance by either ourselves or our counterparties in developing these fair values. See Note 12, “Derivative and Other Financial Instruments,” for additional information. | |||||||||||||
The Company does not currently account for its derivative financial instruments as hedges. The changes in fair value of derivative financial instruments that are not accounted for as hedges and the associated gains and losses realized upon settlement are recorded in “Gains on derivative financial instruments” in the Consolidated Statements of Operations. All realized gains and losses are included within “Net cash provided by operating activities” in the Consolidated Statements of Cash Flows. | |||||||||||||
We are exposed to losses in the event of non-performance by counterparties to derivative contracts. Counterparties are evaluated for creditworthiness and a risk assessment is completed prior to our initiating contract activities. The counterparties’ creditworthiness is then monitored on an ongoing basis, and credit levels are reviewed to ensure there is not an inappropriate concentration of credit outstanding to any particular counterparty. Although non-performance by counterparties is possible, we do not currently anticipate non-performance by any of these parties. At December 31, 2013, substantially all of our derivative financial instruments were maintained with seven counterparties. We have the right to require cash collateral from our counterparties based on the fair value of the underlying derivative financial instruments. | |||||||||||||
Currency Translation | |||||||||||||
The majority of our international subsidiaries use the local currency as their functional currency. We translate substantially all of the amounts included in our Consolidated Statements of Operations from our international subsidiaries into U.S. dollars at average monthly exchange rates, which we believe are representative of the actual exchange rates on the dates of the transactions. Adjustments resulting from the translation of the assets and liabilities of our international operations into U.S. dollars at the balance sheet date exchange rates are reflected as a separate component of stockholders’ equity. Current intercompany accounts and transactional gains and losses associated with receivables, payables and debt denominated in currencies other than the functional currency are included within “Other expense (income), net” in the Consolidated Statements of Operations. Currency translation adjustments accumulate in consolidated equity until the disposition or liquidation of the international entities. The translation of accounts receivables, payables and debt denominated in currencies other than the functional currencies resulted in transactional losses (gains) of $6.2, $1.5 and $(2.1) for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Income Taxes | |||||||||||||
We account for income taxes using the asset and liability method, whereby deferred income taxes reflect the tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In valuing deferred tax assets, we use judgment in determining if it is more likely than not that some portion or all of a deferred tax asset will not be realized and the amount of the required valuation allowance. | |||||||||||||
Tax benefits from uncertain tax positions are recognized in the financial statements when it is more likely than not that the position is sustainable, based solely on its technical merits and considerations of the relevant taxing authority, widely understood practices and precedents. We recognize interest and penalties related to uncertain tax positions within “(Benefit from) provision for income taxes” in the Consolidated Statements of Operations. | |||||||||||||
Environmental and Asset Retirement Obligations | |||||||||||||
Environmental obligations that are not legal or contractual asset retirement obligations and that relate to existing conditions caused by past operations with no benefit to future operations are expensed while expenditures that extend the life, increase the capacity or improve the safety of an asset or that mitigate or prevent future environmental contamination are capitalized in property, plant and equipment. Obligations are recorded when their occurrence is probable and the associated costs can be reasonably estimated in accordance with ASC 410-30, “Environmental Obligations.” While our accruals are based on management’s current best estimate of the future costs of remedial action, these liabilities can change substantially due to factors such as the nature and extent of contamination, changes in the required remedial actions and technological advancements. Our existing environmental liabilities are not discounted to their present values as the amount and timing of the expenditures are not fixed or reliably determinable. | |||||||||||||
Asset retirement obligations represent obligations associated with the retirement of tangible long-lived assets. Our asset retirement obligations relate primarily to the requirement to cap our three landfills, as well as costs related to the future removal of asbestos and costs to remove underground storage tanks. The costs associated with such legal obligations are accounted for under the provisions of ASC 410-20, “Asset Retirement Obligations,” which requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which it is incurred and capitalized as part of the carrying amount of the long-lived asset. These fair values are based upon the present value of the future cash flows expected to be incurred to satisfy the obligation. Determining the fair value of asset retirement obligations requires judgment, including estimates of the credit adjusted interest rate and estimates of future cash flows. Estimates of future cash flows are obtained primarily from engineering consulting firms. The present value of the obligations is accreted over time while the capitalized cost is depreciated over the useful life of the related asset. | |||||||||||||
Retirement, Early Retirement and Postemployment Benefits | |||||||||||||
Our defined benefit pension and other post-retirement benefit plans are accounted for in accordance with ASC 715, “Compensation—Retirement Benefits.” | |||||||||||||
Pension and postretirement benefit obligations are actuarially calculated using management’s best estimates of assumptions which include the expected return on plan assets, the rate at which plan liabilities may be effectively settled (discount rate), health care cost trend rates and rates of compensation increases. | |||||||||||||
Benefits provided to employees after employment but prior to retirement are accounted for under ASC 712, “Compensation—Nonretirement Postemployment Benefits” (“ASC 712”). Such postemployment benefits include severance and medical continuation benefits that are offered pursuant to an ongoing benefit arrangement and do not represent a one-time benefit termination arrangement. Under ASC 712, liabilities for postemployment benefits are recorded at the time the obligations are probable of being incurred and can be reasonably estimated. This is typically at the time a triggering event occurs, such as the decision by management to close a facility. Benefits related to the relocation of employees and certain other termination benefits are accounted for under ASC 420, “Exit or Disposal Cost Obligations,” and are expensed over the required service period. | |||||||||||||
General Guarantees and Indemnifications | |||||||||||||
It is common in long-term processing agreements for us to agree to indemnify customers for tort liabilities that arise out of, or relate to, the processing of their material. Additionally, we typically indemnify such parties for certain environmental liabilities that arise out of or relate to the processing of their material. | |||||||||||||
In our equipment financing agreements, we typically indemnify the financing parties, trustees acting on their behalf and other related parties against liabilities that arise from the manufacture, design, ownership, financing, use, operation and maintenance of the equipment and for tort liability, whether or not these liabilities arise out of or relate to the negligence of these indemnified parties, except for their gross negligence or willful misconduct. | |||||||||||||
We expect that we would be covered by insurance (subject to deductibles) for most tort liabilities and related indemnities described above with respect to equipment we lease and material we process. | |||||||||||||
Although we cannot estimate the potential amount of future payments under the foregoing indemnities and agreements, we are not aware of any events or actions that will require payment. | |||||||||||||
New Accounting Pronouncements | |||||||||||||
In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities” (“ASU No. 2011-11”). ASU No. 2011-11 amended ASC 210, “Balance Sheet,” to converge the presentation of offsetting assets and liabilities between GAAP and International Financial Reporting Standards (“IFRS”). ASU No. 2011-11 requires that entities disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. On January 1, 2013, we adopted ASU No. 2011-11 and reported the additional disclosures related to offsetting assets and liabilities, which did not impact the Company’s financial condition or results of operations. | |||||||||||||
In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive” (“ASU No. 2013-02”). This guidance is the culmination of the FASB’s deliberation on reporting reclassification adjustments from accumulated other comprehensive income (“AOCI”). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. On January 1, 2013, we adopted ASU 2013-02 and reported the additional disclosures, which did not impact the Company’s financial condition or results of operations. | |||||||||||||
In March 2013, the FASB issued ASU No. 2013-05, “Parent’s Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU No. 2013-05”). This guidance requires a parent entity to release any related cumulative foreign currency translation adjustment from accumulated other comprehensive income into net income in the following circumstances: (i) a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided; (ii) a partial sale of an equity method investment that is a foreign entity; (iii) a partial sale of an equity method investment that is not a foreign entity whereby the partial sale represents a complete or substantially complete liquidation of the foreign entity that held the equity method investment; and (iv) the sale of an investment in a foreign entity. ASU No. 2013-05 is effective for fiscal years, and interim periods within those years, beginning for the Company on January 1, 2014. Management has determined that the adoption of these changes will need to be considered in the Company’s financial condition or results of operations in the event the Company initiates any of the transactions described above. | |||||||||||||
In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU No. 2013-11”). This guidance requires an entity to present an unrecognized tax benefit as a liability in the financial statements if (i) a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or (ii) the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset to settle any additional income taxes that would result from the disallowance of a tax position. Otherwise, an unrecognized tax benefit is required to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. ASU No. 2013-11 is effective for fiscal years, and interim periods within those years, beginning for the Company on January 1, 2014. Management has determined that the adoption of these changes will not have a significant impact on the Company’s financial condition or results of operations. |
Restructuring_Charges_Notes
Restructuring Charges (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||
Restructuring Charges | ' | |||||||
3. RESTRUCTURING CHARGES | ||||||||
2013 Initiatives | ||||||||
During the year ended December 31, 2013, we recorded restructuring charges of $10.7, including $8.6 related to severance and other termination benefits associated with selected personnel reductions. The personnel reductions impacted certain selling, general and administrative positions across the Company in an effort to reduce our global cost structure and improve operating results. These personnel reductions impacted three of our operating segments and included charges of $4.5, $1.7 and $0.8 related to our Rolled Products Europe (“RPEU”), Extrusions and Recycling and Specification Alloys Europe (“RSEU”) segments, respectively, as well as $1.5 of charges associated with personnel reductions at our corporate locations. Cash payments of approximately $4.0 were made during the year ended December 31, 2013 associated with these personnel reductions. As of December 31, 2013, approximately $4.6 is recorded within “Accrued Liabilities” and “Other Long-Term Liabilities” on the Consolidated Balance Sheet. No further charges are anticipated related to these reductions. | ||||||||
2012 Initiatives | ||||||||
During the year ended December 31, 2012, we recorded $9.6 of restructuring charges, including $7.6 related to selected personnel reductions implemented during the fourth quarter of 2012. These personnel reductions impacted each of our operating segments and included charges of $0.2, $2.2, $1.0, $0.9 and $1.0 related to our Rolled Products North America (“RPNA”), RPEU, Extrusions, Recycling and Specification Alloys North America (“RSAA”) and RSEU segments, respectively, as well as $2.3 of charges associated with personnel reductions at our corporate locations. Substantially all cash payments were made during the year ended December 31, 2013 related to these personnel reductions and no further charges are anticipated. | ||||||||
2008 Initiatives | ||||||||
During the fourth quarter of 2008, the reduction in force initiatives at our Duffel, Belgium rolled products and extrusions facilities were initiated in response to declining demand. As of December 31, 2013, any further charges relating to this restructuring initiative are not expected to materially impact the Company’s financial position, results of operations or cash flows. The following table presents a reconciliation of the beginning and ending balances of the restructuring liabilities related to the employee severance and benefit costs for the Duffel, Belgium location of our RPEU and Extrusions segments that were initiated in periods prior to 2011: | ||||||||
RPEU | Extrusions | |||||||
Balance at January 1, 2011 | 12.9 | 3.6 | ||||||
(Reversals) charges recorded in the statement of operations | (0.2 | ) | 0.1 | |||||
Cash payments | (0.8 | ) | (0.4 | ) | ||||
Currency translation | (0.3 | ) | (0.1 | ) | ||||
Balance at December 31, 2011 | 11.6 | 3.2 | ||||||
Charges recorded in the statement of operations | 0.4 | 0.1 | ||||||
Cash payments | (2.9 | ) | (0.5 | ) | ||||
Currency translation | 0.2 | 0.1 | ||||||
Balance at December 31, 2012 | 9.3 | 2.9 | ||||||
Reversals recorded in the statement of operations | (0.8 | ) | (0.1 | ) | ||||
Cash payments | (4.9 | ) | (1.5 | ) | ||||
Currency translation and other | 0.9 | — | ||||||
Balance at December 31, 2013 | $ | 4.5 | $ | 1.3 | ||||
Inventories_Notes
Inventories (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Inventory, Net [Abstract] | ' | |||||||
Inventories | ' | |||||||
4. INVENTORIES | ||||||||
The components of our “Inventories” as of December 31, 2013 and 2012 are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Finished goods | $ | 185.6 | $ | 183.8 | ||||
Raw materials | 265.9 | 279.4 | ||||||
Work in process | 203 | 196.2 | ||||||
Supplies | 28.9 | 24 | ||||||
Total | $ | 683.4 | $ | 683.4 | ||||
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property, Plant and Equipment | ' | |||||||||||
5. PROPERTY, PLANT AND EQUIPMENT | ||||||||||||
The components of our consolidated property, plant and equipment are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Land | $ | 162.2 | $ | 152.7 | ||||||||
Buildings and improvements | 234.6 | 120.8 | ||||||||||
Production equipment and machinery | 933.9 | 505.1 | ||||||||||
Office furniture and computer equipment | 82.3 | 57.7 | ||||||||||
Construction work-in-progress | 52 | 423.4 | ||||||||||
Property, plant and equipment | 1,465.00 | 1,259.70 | ||||||||||
Accumulated depreciation | (307.3 | ) | (182.7 | ) | ||||||||
Property, plant and equipment, net | $ | 1,157.70 | $ | 1,077.00 | ||||||||
Capital lease assets totaled $9.6 and $4.4 at December 31, 2013 and 2012, respectively. Accumulated amortization of capital lease assets totaled $2.6 and $1.0 at December 31, 2013 and 2012, respectively. | ||||||||||||
Our depreciation expense, including amortization of capital lease assets, and repair and maintenance expense, was as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Depreciation expense included in SG&A | $ | 19.1 | $ | 7.6 | $ | 4.2 | ||||||
Depreciation expense included in cost of sales | 108.3 | 75.1 | 64 | |||||||||
Repair and maintenance expense | 120 | 110.3 | 114.7 | |||||||||
Intangible_Assets_Notes
Intangible Assets (Notes) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||||||||
6. INTANGIBLE ASSETS | |||||||||||||||||||||||||||
The following table details our intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||||
carrying | Accumulated | Net | Average | carrying | Accumulated | Net | |||||||||||||||||||||
amount | amortization | amount | life | amount | amortization | amount | |||||||||||||||||||||
Trade names | $ | 16.8 | $ | — | $ | 16.8 | Indefinite | $ | 16.8 | $ | — | $ | 16.8 | ||||||||||||||
Technology | 5.9 | (0.9 | ) | 5 | 25 years | 5.9 | (0.6 | ) | 5.3 | ||||||||||||||||||
Customer relationships | 28.3 | (6.6 | ) | 21.7 | 15 years | 28.3 | (4.8 | ) | 23.5 | ||||||||||||||||||
Total | $ | 51 | $ | (7.5 | ) | $ | 43.5 | 17 years | $ | 51 | $ | (5.4 | ) | $ | 45.6 | ||||||||||||
The following table presents amortization expense, which has been classified within “Selling, general and administrative expenses” in the Consolidated Statements of Operations: | |||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Amortization expense | $ | 2.1 | $ | 2.1 | $ | 2.1 | |||||||||||||||||||||
The following table presents estimated amortization expense for the next five years: | |||||||||||||||||||||||||||
2014 | $ | 2.1 | |||||||||||||||||||||||||
2015 | 2.1 | ||||||||||||||||||||||||||
2016 | 2.1 | ||||||||||||||||||||||||||
2017 | 2.1 | ||||||||||||||||||||||||||
2018 | 2.1 | ||||||||||||||||||||||||||
Total | $ | 10.5 | |||||||||||||||||||||||||
Accrued_Liabilities_Notes
Accrued Liabilities (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities Disclosure [Abstract] | ' | |||||||
Accrued Liabilities | ' | |||||||
7. ACCRUED LIABILITIES | ||||||||
Accrued liabilities at December 31, 2013 and 2012 consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Employee-related costs | $ | 58 | $ | 69.5 | ||||
Accrued professional fees | 6.2 | 8.9 | ||||||
Toll liability | 34.8 | 21.7 | ||||||
Accrued taxes | 10.4 | 34.9 | ||||||
Accrued interest | 21.9 | 24 | ||||||
Accrued restructuring | 5.6 | 17.5 | ||||||
Accrued capital expenditures | 28.7 | 74.3 | ||||||
Derivative financial instruments | 1.7 | 6.4 | ||||||
Other liabilities | 33.6 | 45.2 | ||||||
$ | 200.9 | $ | 302.4 | |||||
Asset_Retirement_Obligation_No
Asset Retirement Obligation (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Asset Retirement Obligation [Abstract] | ' | ||||||||||||
Asset Retirement Obligations | ' | ||||||||||||
8. ASSET RETIREMENT OBLIGATIONS | |||||||||||||
Our asset retirement obligations consist of legal obligations associated with the closure of our active landfills, as well as costs to remove asbestos and underground storage tanks and other legal or contractual obligations associated with the ultimate closure of our manufacturing facilities. | |||||||||||||
The changes in the carrying amount of asset retirement obligations for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 14.6 | $ | 13.7 | $ | 12.9 | |||||||
Revisions and liabilities incurred | 0.2 | 2.1 | 1.3 | ||||||||||
Accretion expense | 0.5 | 0.5 | 0.5 | ||||||||||
Payments | (2.9 | ) | (1.7 | ) | (1.0 | ) | |||||||
Balance at the end of the period | $ | 12.4 | $ | 14.6 | $ | 13.7 | |||||||
LongTerm_Debt_Notes
Long-Term Debt (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Long-Term Debt | ' | |||||||
9. LONG-TERM DEBT | ||||||||
Our debt is summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
ABL Facility | $ | — | $ | — | ||||
7 5/8% Senior Notes due 2018, net of discount of $5.9 and $7.3 at December 31, 2013 and December 31, 2012, respectively | 494.1 | 492.7 | ||||||
7 7/8% Senior Notes due 2020, net of discount of $7.5 and $8.6 at December 31, 2013 and December 31, 2012, respectively | 492.5 | 491.4 | ||||||
Exchangeable Notes, net of discount of $0.7 and $0.8 at December 31, 2013 and December 31, 2012, respectively | 44.2 | 44.2 | ||||||
Zhenjiang Term Loans, net of discount of $1.0 and $1.3 at December 31, 2013 and December 31, 2012, respectively | 192.2 | 186.8 | ||||||
Other | 14.4 | 12.8 | ||||||
Total debt | 1,237.40 | 1,227.90 | ||||||
Less: Current portion of long-term debt | 8.3 | 9 | ||||||
Total long-term debt | $ | 1,229.10 | $ | 1,218.90 | ||||
Maturities of Debt | ||||||||
Scheduled maturities of our debt and capital leases subsequent to December 31, 2013 are as follows: | ||||||||
Debt | Capital leases | |||||||
2014 | $ | 5.1 | $ | 3.2 | ||||
2015 | 0.5 | 2.8 | ||||||
2016 | 10.1 | 2 | ||||||
2017 | 19.6 | 0.5 | ||||||
2018 | 529.4 | 0.1 | ||||||
After 2018 | 679.1 | 0.1 | ||||||
Total | $ | 1,243.80 | $ | 8.7 | ||||
ABL Facility | ||||||||
On June 1, 2010, our wholly owned subsidiary, Aleris International, Inc. (“Aleris International”), entered into an asset backed multi-currency revolving credit facility (the “ABL Facility”). On June 30, 2011, Aleris International amended and restated the ABL Facility. The amended and restated ABL Facility is a $600.0 revolving credit facility which permits multi-currency borrowings up to $600.0 by our U.S. subsidiaries, up to $240.0 by Aleris Switzerland GmbH (a wholly owned Swiss subsidiary), and up to $15.0 by Aleris Specification Alloy Products Canada Company (a wholly owned Canadian subsidiary). Aleris International and certain of its U.S. and international subsidiaries are borrowers under the ABL Facility. The availability of funds to the borrowers located in each jurisdiction is subject to a borrowing base for that jurisdiction, and the jurisdictions in which certain subsidiaries of such borrowers are located, calculated on the basis of a predetermined percentage of the value of selected accounts receivable and U.S., Canadian and certain European inventory, less certain ineligible accounts receivable and inventory. The level of the borrowing base and availability under the ABL Facility fluctuates with the underlying London Metal Exchange (“LME”) price of aluminum which impacts both accounts receivable and inventory values included in the borrowing base. Non-U.S. borrowers also have the ability to borrow under the ABL Facility based on excess availability under the borrowing base applicable to the U.S. borrowers, subject to certain sublimits. The ABL Facility provides for the issuance of up to $75.0 of letters of credit as well as borrowings on same-day notice, referred to as swingline loans that are available in U.S. dollars, Canadian dollars, euros and certain other currencies. As of December 31, 2013, we estimate that the borrowing base would have supported borrowings of $423.5. After giving effect to the outstanding letters of credit of $40.7, Aleris International had $382.8 available for borrowing under the ABL Facility as of December 31, 2013. | ||||||||
Borrowings under the ABL Facility bear interest at a rate equal to the following, plus an applicable margin ranging from 0.75% to 2.50%: | ||||||||
▪ | in the case of borrowings in U.S. dollars, a LIBOR rate or a base rate determined by reference to the higher of (1) Bank of America’s prime lending rate, (2) the overnight federal funds rate plus 0.5% or (3) a eurodollar rate determined by Bank of America plus 1.0%; | |||||||
▪ | in the case of borrowings in euros, a euro LIBOR rate determined by Bank of America; and | |||||||
▪ | in the case of borrowings in Canadian dollars, a Canadian prime rate. | |||||||
As of December 31, 2013 and 2012, Aleris International had no amounts outstanding under the ABL Facility. | ||||||||
In addition to paying interest on any outstanding principal under the ABL Facility, Aleris International is required to pay a commitment fee in respect of unutilized commitments of 0.50% if the average utilization is less than 33% for any applicable period, 0.375% if the average utilization is between 33% and 67% for any applicable period, and 0.25% if the average utilization is greater than 67% for any applicable period. Aleris International must also pay customary letters of credit fees and agency fees. | ||||||||
The ABL Facility is subject to mandatory prepayment with (i) 100% of the net cash proceeds of certain asset sales, subject to certain reinvestment rights; (ii) 100% of the net cash proceeds from issuance of debt, other than debt permitted under the ABL Facility; and (iii) 100% of net cash proceeds from certain insurance and condemnation payments, subject to certain reinvestment rights. | ||||||||
In addition, if at any time outstanding loans, unreimbursed letter of credit drawings and undrawn letters of credit under the ABL Facility exceed the applicable borrowing base in effect at such time, Aleris International is required to repay outstanding loans or cash collateralize letters of credit in an aggregate amount equal to such excess, with no reduction of the commitment amount. If the amount available under the ABL Facility is less than the greater of (x) $50.0 and (y) 15.0% of the lesser of the total commitments or the borrowing base under the ABL Facility or an event of default is continuing, Aleris International is required to repay outstanding loans with the cash we are required to deposit in collection accounts maintained with the agent under the ABL Facility. | ||||||||
Aleris International may voluntarily reduce the unutilized portion of the commitment amount and repay outstanding loans at any time upon three business days prior written notice without premium or penalty other than customary “breakage” costs with respect to eurodollar, euro LIBOR and EURIBOR loans. | ||||||||
There is no scheduled amortization under the ABL Facility. The principal amount outstanding will be due and payable in full at maturity, on June 29, 2016 unless extended pursuant to the credit agreement. | ||||||||
The ABL Facility is secured, subject to certain exceptions (including appropriate limitations in light of U.S. federal income tax considerations on guaranties and pledges of assets by foreign subsidiaries, and certain pledges of such foreign subsidiaries’ stock, in each case to support loans to us or our domestic subsidiaries), by a first-priority security interest in substantially all of Aleris International’s current assets and related intangible assets located in the U.S., substantially all of the current assets and related intangible assets of substantially all of its wholly owned domestic subsidiaries located in the U.S., substantially all of the current assets and related intangible assets of the borrower located in Canada and substantially all of the current assets (other than inventory located outside of the United Kingdom) and related intangibles of Aleris Recycling (Swansea) Ltd. and Aleris Switzerland GmbH and certain of its subsidiaries. The borrowers’ obligations under the ABL Facility are guaranteed by certain of Aleris International’s existing and future direct and indirect subsidiaries. | ||||||||
The ABL Facility contains a number of covenants that, among other things and subject to certain exceptions, restrict the ability of Aleris International and certain of its subsidiaries to: | ||||||||
▪ | incur additional indebtedness; | |||||||
▪ | pay dividends on capital stock and make other restricted payments; | |||||||
▪ | make investments and acquisitions; | |||||||
▪ | engage in transactions with our affiliates; | |||||||
▪ | sell assets; | |||||||
▪ | merge; and | |||||||
▪ | create liens. | |||||||
Although the credit agreement governing the ABL Facility generally does not require us to comply with any financial ratio maintenance covenants, if the amount available under the ABL Facility is less than the greater of (x) $45.0 or (y) 12.5% of the lesser of (i) the total commitments or (ii) the borrowing base under the ABL Facility at any time, a minimum fixed charge coverage ratio (as defined in the credit agreement) of at least 1.0 to 1.0 will apply. The credit agreement also contains certain customary affirmative covenants and events of default. Aleris International was in compliance with all of the covenants set forth in the credit agreement as of December 31, 2013. | ||||||||
7 5/8% Senior Notes due 2018 | ||||||||
On February 9, 2011, Aleris International issued $500.0 aggregate original principal amount of 7 5/8% Senior Notes due 2018 under an indenture (the “7 5/8% Indenture”) with U.S. Bank National Association, as trustee, and on October 14, 2011, Aleris International exchanged the $500.0 aggregate original principal amount of 7 5/8% Senior Notes due 2018 for $500.0 of its new 7 5/8% Senior Notes due 2018 that have been registered under the Securities Act of 1933, as amended (the “7 5/8% Senior Notes”). Interest on the 7 5/8% Senior Notes is payable in cash semi-annually in arrears on February 15th and August 15th of each year. The 7 5/8% Senior Notes mature on February 15, 2018. | ||||||||
The 7 5/8% Senior Notes are jointly and severally, irrevocably and unconditionally guaranteed on a senior unsecured basis, by us and each direct and indirect restricted subsidiary that is a domestic subsidiary and that guarantees Aleris International’s obligations under the ABL Facility, as primary obligor and not merely as surety. The 7 5/8% Senior Notes and the guarantees thereof are our unsecured senior obligations and rank (i) equally in right of payment to all of our existing and future debt and other obligations that are not, by their terms, expressly subordinated in right of payment to the 7 5/8% Senior Notes; (ii) effectively subordinated in right of payment to all of Aleris International’s existing and future secured debt (including any borrowings under the ABL Facility), to the extent of the value of the assets securing such debt; (iii) structurally subordinated to all existing and future debt and other obligations, including trade payables, of each of our subsidiaries that is not a guarantor of the 7 5/8% Senior Notes; and (iv) senior in right of payment to our existing and future debt and other obligations that are, by their terms, expressly subordinated in right of payment to the 7 5/8% Senior Notes, including Aleris International’s Exchangeable Notes (defined below). | ||||||||
Aleris International is not required to make any mandatory redemption or sinking fund payments with respect to the 7 5/8% Senior Notes other than as set forth in the 7 5/8% Indenture relating to certain tax matters, but under certain circumstances, it may be required to offer to purchase 7 5/8% Senior Notes as described below. Aleris International may from time to time acquire 7 5/8% Senior Notes by means other than redemption, whether by tender offer, in open market purchases, through negotiated transactions or otherwise, in accordance with applicable securities laws. | ||||||||
Aleris International may redeem the 7 5/8% Senior Notes, in whole or in part, upon not less than 30 nor more than 60 days prior notice at a redemption price equal to 105.7% of the principal amount, declining annually to 100.0% of the principal amount on February 15, 2017, plus accrued and unpaid interest, and Additional Interest (as defined in the 7 5/8% Indenture), if any, thereon to the applicable redemption date. | ||||||||
Upon the occurrence of a change in control (as defined in the 7 5/8% Indenture), each holder of the 7 5/8% Senior Notes has the right to require us to repurchase some or all of such holder’s Senior Notes at a price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase. | ||||||||
If Aleris International or its restricted subsidiaries engage in an asset sale (as defined in the 7 5/8% Indenture), it generally must either invest the net cash proceeds from such sales in our business within a specified period of time, permanently reduce senior debt, permanently reduce senior subordinated debt, permanently reduce debt of a restricted subsidiary that is not a subsidiary guarantor or make an offer to purchase a principal amount of the notes equal to the net cash proceeds, subject to certain exceptions. The purchase price of the notes will be 100% of their principal amount, plus accrued and unpaid interest. | ||||||||
The 7 5/8% Indenture contains covenants that limit Aleris International’s ability and certain of its subsidiaries’ ability to: | ||||||||
▪ | incur additional debt; | |||||||
▪ | pay dividends or distributions on capital stock or redeem, repurchase or retire capital stock or subordinated debt; | |||||||
▪ | issue preferred stock of restricted subsidiaries; | |||||||
▪ | make certain investments; | |||||||
▪ | create liens on our or our subsidiary guarantors’ assets to secure debt; | |||||||
▪ | enter into sale and leaseback transactions; | |||||||
▪ | create restrictions on the payments of dividends or other amounts to Aleris International from the restricted subsidiaries that are not guarantors of the 7 5/8% Senior Notes; | |||||||
▪ | enter into transactions with affiliates; | |||||||
▪ | merge or consolidate with another company; and | |||||||
▪ | sell assets, including capital stock of our subsidiaries. | |||||||
These covenants are subject to a number of important limitations and exceptions. | ||||||||
The 7 5/8% Indenture also provides for events of default, which, if any of them occurs, would permit or require the principal, premium, if any, interest and any other monetary obligations on all outstanding 7 5/8% Senior Notes to be due and payable immediately. Aleris International was in compliance with all covenants set forth in the 7 5/8% Indenture as of December 31, 2013. | ||||||||
Aleris International used a portion of the net proceeds from the sale of the 7 5/8% Senior Notes to pay us cash dividends of approximately $500.0, which we then paid as dividends, pro rata, to our stockholders in 2011. | ||||||||
7 7/8% Senior Notes due 2020 | ||||||||
On October 23, 2012, Aleris International issued $500.0 aggregate original principal amount of 7 7/8% Senior Notes due 2020 (the “7 7/8% Senior Notes” and, together with the 7 5/8% Senior Notes, the “Senior Notes”) under an indenture (the “7 7/8% Indenture”) with U.S. Bank National Association, as trustee, and on January 31, 2013, Aleris International exchanged the $500.0 million aggregate original principal amount of 7 7/8% Senior Notes due 2020 for $500.0 million of its new 7 7/8% Senior Notes due 2020 that have been registered under the Securities Act of 1933, as amended (the “7 7/8% Senior Notes” and, together with the 7 5/8% Senior Notes, the “Senior Notes”). Interest on the 7 7/8% Senior Notes is payable in cash semi-annually in arrears on May 1st and November 1st of each year. The 7 7/8% Senior Notes mature on November 1, 2020. | ||||||||
The 7 7/8% Senior Notes are jointly and severally, irrevocably and unconditionally guaranteed on a senior unsecured basis, by us and each direct and indirect restricted subsidiary that is a domestic subsidiary and that guarantees Aleris International’s obligations under the ABL Facility and the 7 5/8% Senior Notes, as primary obligor and not merely as surety. The 7 7/8% Senior Notes and the guarantees thereof are our unsecured senior obligations and rank (i) equally in right of payment to all of our existing and future debt and other obligations that are not, by their terms, expressly subordinated in right of payment to the 7 7/8% Senior Notes (including the existing 7 5/8% Senior Notes); (ii) be effectively subordinated in right of payment to all of Aleris International’s existing and future secured debt (including any borrowings under the ABL Facility), to the extent of the value of the assets securing such debt; (iii) be structurally subordinated to all existing and future debt and other obligations, including trade payables, of each of our subsidiaries that is not a guarantor of the 7 7/8% Senior Notes; and (iv) rank senior in right of payment to our existing and future debt and other obligations that are, by their terms, expressly subordinated in right of payment to the 7 7/8% Senior Notes, including Aleris International’s Exchangeable Notes. | ||||||||
Aleris International is not required to make any mandatory redemption or sinking fund payments with respect to the 7 7/8% Senior Notes other than as set forth in the 7 7/8% Indenture relating to certain tax matters, but under certain circumstances, it may be required to offer to purchase 7 7/8% Senior Notes as described below. Aleris International may from time to time acquire 7 7/8% Senior Notes by means other than redemption, whether by tender offer, in open market purchases, through negotiated transactions or otherwise, in accordance with applicable securities laws. | ||||||||
From and after November 1, 2015, Aleris International may redeem the 7 7/8% Senior Notes, in whole or in part, upon not less than 30 nor more than 60 days’ prior notice at a redemption price equal to 105.9% of principal amount, declining annually to 100.0% of the principal amount on November 1, 2018, plus accrued and unpaid interest, and Additional Interest (as defined in the 7 7/8% Indenture), if any, thereon to the applicable redemption date. | ||||||||
Prior to November 1, 2015, Aleris International may, at its option, redeem up to 40% of the sum of the original aggregate principal amount of the 7 7/8% Senior Notes originally issued under the 7 7/8% Indenture and the aggregate principal amount of any additional notes issued under the 7 7/8% Indenture after the issue date at a redemption price equal to 107.9% of the aggregate principal amount thereof, plus accrued and unpaid interest, and Additional Interest, if any, thereon to the redemption date, with the net cash proceeds of one or more equity offerings of Aleris International or any direct or indirect parent of Aleris International to the extent such net proceeds are contributed to us provided that at least 60% of the sum of the aggregate principal amount of 7 7/8% Senior Notes originally issued under the 7 7/8% Indenture and the aggregate principal amount of any additional notes issued under the 7 7/8% Indenture after the issue date remain outstanding immediately after the occurrence of each such redemption and each such redemption occurs within 180 days of the date of closing of each equity offering. At any time prior to November 1, 2015, Aleris International may also redeem all or a part of the 7 7/8% Senior Notes, upon not less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of 7 7/8% Senior Notes redeemed plus an applicable premium, as provided in the 7 7/8% Indenture, as of, and accrued and unpaid interest and Additional Interest, if any, to the redemption date. | ||||||||
Upon the occurrence of a change in control (as defined in the 7 7/8% Indenture), each holder of the 7 7/8% Senior Notes has the right to require Aleris International to repurchase some or all of such holder’s 7 7/8% Senior Notes at a price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase. | ||||||||
If Aleris International or the restricted subsidiaries engage in an asset sale (as defined in the 7 7/8% Indenture), it generally must either invest the net cash proceeds from such sales in the business within a specified period of time, permanently reduce senior debt, permanently reduce senior subordinated debt, permanently reduce debt of a restricted subsidiary that is not a subsidiary guarantor or make an offer to purchase a principal amount of the notes equal to the net cash proceeds, subject to certain exceptions. The purchase price of the notes will be 100% of their principal amount, plus accrued and unpaid interest. | ||||||||
The 7 7/8% Indenture contains covenants that limit Aleris International’s ability and certain of its subsidiaries’ ability to: | ||||||||
▪ | incur additional debt; | |||||||
▪ | pay dividends or distributions on capital stock or redeem, repurchase or retire capital stock or subordinated debt; | |||||||
▪ | issue preferred stock of restricted subsidiaries; | |||||||
▪ | make certain investments; | |||||||
▪ | create liens on its or its subsidiary guarantors’ assets to secure debt; | |||||||
▪ | enter into sale and leaseback transactions; | |||||||
▪ | create restrictions on the payments of dividends or other amounts to Aleris International from the restricted subsidiaries that are not guarantors of the 7 7/8% Senior Notes; | |||||||
▪ | enter into transactions with affiliates; | |||||||
▪ | merge or consolidate with another company; and | |||||||
▪ | sell assets, including capital stock of its subsidiaries. | |||||||
These covenants are subject to a number of important limitations and exceptions. | ||||||||
The 7 7/8% Indenture also provides for events of default, which, if any of them occurs, would permit or require the principal, premium, if any, interest and any other monetary obligations on all outstanding 7 7/8% Senior Notes to be due and payable immediately. | ||||||||
Aleris International was in compliance with all covenants set forth in the 7 7/8% Indenture as of December 31, 2013. | ||||||||
Aleris International used a portion of the net proceeds from the sale of the 7 7/8% Senior Notes to pay us cash dividends of approximately $313.0, which we then paid as dividends, pro rata, to our stockholders in 2013. | ||||||||
Exchangeable Notes | ||||||||
On June 1, 2010, Aleris International issued $45.0 aggregate principal amount of 6.0% senior subordinated exchangeable notes (the “Exchangeable Notes”). The Exchangeable Notes are scheduled to mature on June 1, 2020. The Exchangeable Notes have exchange rights at the holder’s option and are exchangeable for our common stock at a rate equivalent to 59.63 shares of our common stock per $1,000 principal amount of the Exchangeable Notes (after adjustment for the payments of dividends in 2011 and 2013), subject to further adjustment. The Exchangeable Notes may currently be redeemed at Aleris International’s option at specified redemption prices. | ||||||||
The Exchangeable Notes are the unsecured, senior subordinated obligations of Aleris International and rank (i) junior to all of its existing and future senior indebtedness, including the ABL Facility; (ii) equally to all of its existing and future senior subordinated indebtedness; and (iii) senior to all of its existing and future subordinated indebtedness. | ||||||||
China Loan Facility | ||||||||
Aleris Zhenjiang entered into a loan agreement comprised of non-recourse multi-currency secured term loan facilities and a revolving facility (collectively, the “China Loan Facility”). The China Loan Facility consists of a $30.6 U.S. dollar term loan facility, an RMB 993.5 (or equivalent to approximately $162.6) term loan facility (collectively referred to as the “Zhenjiang Term Loans”) and an RMB 410.0 (or equivalent to approximately $67.1) revolving facility that provides Aleris Zhenjiang with a working capital line of credit (referred to as the “Zhenjiang Revolver”). The Zhenjiang Revolver has certain restrictions that impact the term and the source of repayment for amounts drawn which may limit our ability to borrow funds on the Zhenjiang Revolver in the future. In March 2013, the Zhenjiang Revolver was amended to, among other things, increase the borrowing capacity from RMB 232.8 (or equivalent to $38.1) to RMB 410.0 (or equivalent to $67.1). The interest rate on the U.S. dollar term facility is six month U.S. dollar LIBOR plus 5.0% and the interest rate on the RMB term facility and the Zhenjiang Revolver is 110% of the base rate applicable to any loan denominated in RMB of the same tenor, as announced by the People’s Bank of China. As of December 31, 2013, the full amount of the Zhenjiang Term Loans was drawn. The initial draw on the Zhenjiang Revolver in the amount of $4.1 occurred during the second quarter of 2013 and was repaid during the fourth quarter of 2013. The final maturity date for all borrowings under the China Loan Facility is May 18, 2021. Aleris Zhenjiang is an unrestricted subsidiary and non-guarantor under the indentures governing the Senior Notes. | ||||||||
The China Loan Facility contains certain customary covenants and events of default. The China Loan Facility requires Aleris Zhenjiang to, among other things, maintain a certain ratio of outstanding term loans to invested equity capital. In addition, among other things and subject to certain exceptions, Aleris Zhenjiang is restricted in its ability to: | ||||||||
▪ | repay loans extended by the shareholders of Aleris Zhenjiang prior to repaying loans under the China Loan Facility or make the China Loan Facility junior to any other debts incurred of the same class for the project; | |||||||
▪ | distribute any dividend or bonus to shareholders if its pre-tax profit is insufficient to cover a loss or not used to discharge principal, interest and expenses; | |||||||
▪ | dispose of any assets in a manner that will materially impair its ability to repay debts; | |||||||
▪ | provide guarantees to third parties above a certain threshold that use assets that are financed by the China Loan Facility; | |||||||
▪ | permit any individual investor or key management personnel changes that result in a material adverse effect; | |||||||
▪ | use any proceeds from the China Loan Facility for any purpose other than as set forth therein; and | |||||||
▪ | enter into additional financing to expand or increase the production capacity of the project. | |||||||
Aleris Zhenjiang was in compliance with all of the covenants set forth in the China Loan Facility as of December 31, 2013. Aleris Zhenjiang has had delays in its ability to make timely draws of amounts committed under the China Loan Facility in the past and we cannot be certain that Aleris Zhenjiang will be able to draw all amounts committed under the Zhenjiang Revolver in the future or as to the timing or cost of any such draws. |
Employee_Benefit_Plans_Notes
Employee Benefit Plans (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||
10. EMPLOYEE BENEFIT PLANS | |||||||||||||||||
Defined Contribution Pension Plans | |||||||||||||||||
The Company’s defined contribution plans cover substantially all U.S. employees not covered under collective bargaining agreements and certain employees covered by collective bargaining agreements. The plans provide both profit sharing and employer matching contributions as well as an age and salary based contribution. | |||||||||||||||||
Our match of employees’ contributions under our defined contribution plans and supplemental employer contributions for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Company match of employee contributions | $ | 4.3 | $ | 4.4 | $ | 3.9 | |||||||||||
Supplemental employer contributions | $ | 1.4 | $ | 1.5 | $ | 1.3 | |||||||||||
Defined Benefit Pension Plans | |||||||||||||||||
Our U.S. defined benefit pension plans cover certain salaried and non-salaried employees at our corporate headquarters and within our RPNA segment. The plan benefits are based on age, years of service and employees’ eligible compensation during employment for all employees not covered under a collective bargaining agreement and on stated amounts based on job grade and years of service prior to retirement for non-salaried employees covered under a collective bargaining agreement. | |||||||||||||||||
Our German subsidiaries sponsor various defined benefit pension plans for their employees. These plans are based on final pay and service, but some senior officers are entitled to receive enhanced pension benefits. Benefit payments are financed, in part, by contributions to a relief fund which establishes a life insurance contract to secure future pension payments; however, the plans are substantially unfunded plans under German law. The unfunded accrued pension costs are covered under a pension insurance association under German law if we are unable to fulfill our obligations. | |||||||||||||||||
The components of the net periodic benefit expense for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 3.7 | $ | 3 | $ | 2.6 | |||||||||||
Interest cost | 6.6 | 7.2 | 7.5 | ||||||||||||||
Amortization of net loss | 1.5 | 0.3 | — | ||||||||||||||
Amortization of prior service cost | 0.1 | 0.1 | — | ||||||||||||||
Expected return on plan assets | (9.5 | ) | (8.4 | ) | (8.0 | ) | |||||||||||
Settlement loss | 0.2 | — | — | ||||||||||||||
Net periodic benefit cost | $ | 2.6 | $ | 2.2 | $ | 2.1 | |||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 5 | $ | 2.7 | $ | 2.5 | |||||||||||
Interest cost | 7.3 | 7.1 | 7.7 | ||||||||||||||
Amortization of net loss | 1.7 | — | — | ||||||||||||||
Expected return on plan assets | (0.2 | ) | (0.1 | ) | (0.1 | ) | |||||||||||
Net periodic benefit cost | $ | 13.8 | $ | 9.7 | $ | 10.1 | |||||||||||
The changes in projected benefit obligations and plan assets during the years ended December 31, 2013 and 2012, using a period-end measurement date, are as follows: | |||||||||||||||||
U.S. Pension Benefits | Non-U.S. Pension Benefits | ||||||||||||||||
For the years ended December 31, | For the years ended December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Change in projected benefit obligations | |||||||||||||||||
Projected benefit obligation at beginning of period | $ | 185.3 | $ | 165 | $ | 195.5 | $ | 149.2 | |||||||||
Service cost | 3.7 | 3 | 5 | 2.7 | |||||||||||||
Interest cost | 6.6 | 7.2 | 7.3 | 7.1 | |||||||||||||
Actuarial (gain) loss | (19.7 | ) | 20.5 | (4.6 | ) | 38.4 | |||||||||||
Expenses paid | (1.1 | ) | (1.3 | ) | — | — | |||||||||||
Benefits paid | (8.3 | ) | (9.1 | ) | (6.7 | ) | (6.3 | ) | |||||||||
Plan settlements | (2.8 | ) | — | — | — | ||||||||||||
Translation and other | — | — | 9.3 | 4.4 | |||||||||||||
Projected benefit obligation at end of period | $ | 163.7 | $ | 185.3 | $ | 205.8 | $ | 195.5 | |||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at beginning of period | $ | 113.5 | $ | 99.6 | $ | 3.8 | $ | 2.9 | |||||||||
Employer contributions | 10.3 | 12.8 | 7.5 | 7 | |||||||||||||
Actual return on plan assets | 18.4 | 11.5 | — | 0.1 | |||||||||||||
Expenses paid | (1.1 | ) | (1.3 | ) | — | — | |||||||||||
Benefits paid | (8.3 | ) | (9.1 | ) | (6.7 | ) | (6.3 | ) | |||||||||
Plan settlements | (2.8 | ) | — | — | — | ||||||||||||
Translation and other | — | — | 0.6 | 0.1 | |||||||||||||
Fair value of plan assets at end of period | $ | 130 | $ | 113.5 | $ | 5.2 | $ | 3.8 | |||||||||
Net amount recognized | $ | (33.7 | ) | $ | (71.8 | ) | $ | (200.6 | ) | $ | (191.7 | ) | |||||
The following table provides the amounts recognized in the Consolidated Balance Sheet as of December 31, 2013 and 2012: | |||||||||||||||||
U.S. Pension Benefits | Non-U.S. Pension Benefits | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Noncurrent assets | $ | — | $ | — | $ | 0.2 | $ | — | |||||||||
Accrued liabilities | — | — | (6.0 | ) | (5.3 | ) | |||||||||||
Accrued pension benefits | (33.7 | ) | (71.8 | ) | (194.8 | ) | (186.4 | ) | |||||||||
Net amount recognized | $ | (33.7 | ) | $ | (71.8 | ) | $ | (200.6 | ) | $ | (191.7 | ) | |||||
Amounts recognized in accumulated other comprehensive income (loss) (before tax) consist of: | |||||||||||||||||
Net actuarial loss | $ | 6.4 | $ | 36.6 | $ | 38 | $ | 42.2 | |||||||||
Net prior service cost | 0.8 | 0.8 | — | — | |||||||||||||
$ | 7.2 | $ | 37.4 | $ | 38 | $ | 42.2 | ||||||||||
Amortization expected to be recognized during next fiscal year (before tax): | |||||||||||||||||
Amortization of net actuarial loss | $ | — | $ | (1.3 | ) | ||||||||||||
Amortization of net prior service cost | (0.1 | ) | — | ||||||||||||||
$ | (0.1 | ) | $ | (1.3 | ) | ||||||||||||
Additional Information | |||||||||||||||||
Accumulated benefit obligation for all defined benefit pension plans | $ | 163.7 | $ | 185.3 | $ | 197.9 | $ | 187.2 | |||||||||
For defined benefit pension plans with projected benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate projected benefit obligation | 163.7 | 185.3 | 205.6 | 195.5 | |||||||||||||
Aggregate fair value of plan assets | 130 | 113.5 | 4.7 | 3.8 | |||||||||||||
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate accumulated benefit obligation | 163.7 | 185.3 | 197.7 | 187.2 | |||||||||||||
Aggregate fair value of plan assets | 130 | 113.5 | 4.7 | 3.8 | |||||||||||||
Projected employer contributions for 2014 | 11.3 | 7.9 | |||||||||||||||
Plan Assumptions. We are required to make assumptions regarding such variables as the expected long-term rate of return on plan assets and the discount rate applied to determine service cost and interest cost. Our objective in selecting a discount rate is to select the best estimate of the rate at which the benefit obligations could be effectively settled. In making this estimate, projected cash flows are developed and matched with a yield curve based on an appropriate universe of high-quality corporate bonds. | |||||||||||||||||
Assumptions for long-term rates of return on plan assets are based upon historical returns, future expectations for returns for each asset class and the effect of periodic target asset allocation rebalancing. The results are adjusted for the payment of reasonable expenses of the plan from plan assets. We believe these assumptions are appropriate based upon the mix of the investments and the long-term nature of the plans’ investments. | |||||||||||||||||
The weighted average assumptions used to determine benefit obligations are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 4.6 | % | 3.6 | % | 4.5 | % | |||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.9 | % | 3.7 | % | 4.9 | % | |||||||||||
Rate of compensation increases, if applicable | 3 | 3 | 3 | ||||||||||||||
The weighted average assumptions used to determine the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.6 | % | 4.5 | % | 5.2 | % | |||||||||||
Expected return on plan assets | 8.3 | 8.3 | 8.3 | ||||||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.7 | % | 4.9 | % | 5.4 | % | |||||||||||
Expected return on plan assets | 3.5 | 4.1 | 4.2 | ||||||||||||||
Rate of compensation increase | 3 | 3 | 3 | ||||||||||||||
Plan Assets. The weighted average plan asset allocations at December 31, 2013 and 2012 and the target allocations are as follows: | |||||||||||||||||
Percentage of Plan Assets | |||||||||||||||||
2013 | 2012 | Target Allocation | |||||||||||||||
Cash | 1 | % | 1 | % | — | % | |||||||||||
Equity | 63 | 62 | 60 | ||||||||||||||
Fixed income | 22 | 23 | 25 | ||||||||||||||
Real estate | 10 | 10 | 12 | ||||||||||||||
Other | 4 | 4 | 3 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||
The principal objectives underlying the investment of the pension plans’ assets are to ensure that the Company can properly fund benefit obligations as they become due under a broad range of potential economic and financial scenarios, maximize the long-term investment return with an acceptable level of risk based on such obligations, and broadly diversify investments across and within the capital markets to protect asset values against adverse movements in any one market. The Company’s strategy balances the requirement to maximize returns using potentially higher return generating assets, such as equity securities, with the need to control the risk versus the benefit obligations with less volatile assets, such as fixed-income securities. | |||||||||||||||||
Investment practices must comply with the requirements of ERISA and any other applicable laws and regulations. The use of derivative instruments is permitted where appropriate and necessary for achieving overall investment policy objectives. Currently, we do not use derivative instruments. | |||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2013 by asset class are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Asset Class: | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Cash | $ | 1.3 | $ | 1.3 | $ | — | $ | — | |||||||||
Registered Investment Companies: | |||||||||||||||||
Large U.S. Equity | 16.9 | 16.9 | — | — | |||||||||||||
Small / Mid U.S. Equity | 13.2 | 13.2 | — | — | |||||||||||||
International Equity | 13.8 | 13.8 | — | — | |||||||||||||
Fixed Income | 14.6 | 14.6 | — | — | |||||||||||||
Commingled and Limited Partnership Funds: | |||||||||||||||||
Hedged Equity | 18.9 | — | 18.9 | — | |||||||||||||
Core Real Estate | 13.9 | — | 13.9 | — | |||||||||||||
International Large Cap Equity | 14.8 | — | 14.8 | — | |||||||||||||
Core Fixed Income | 14.5 | — | 14.5 | — | |||||||||||||
Small Cap Value Equity | 7.4 | — | 7.4 | — | |||||||||||||
Other | 5.9 | — | 5.2 | 0.7 | |||||||||||||
Total | $ | 135.2 | $ | 59.8 | $ | 74.7 | $ | 0.7 | |||||||||
The fair values of the Company’s pension plan assets at December 31, 2012 by asset class are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Asset Class: | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Cash | $ | 1.6 | $ | 1.6 | $ | — | $ | — | |||||||||
Registered Investment Companies: | |||||||||||||||||
Large U.S. Equity | 15.7 | 15.7 | — | — | |||||||||||||
Small / Mid U.S. Equity | 11.1 | 11.1 | — | — | |||||||||||||
International Equity | 13 | 13 | — | — | |||||||||||||
Fixed Income | 14.2 | 14.2 | — | — | |||||||||||||
Commingled and Limited Partnership Funds: | |||||||||||||||||
Hedged Equity | 14.8 | — | 14.8 | — | |||||||||||||
Core Real Estate | 12.1 | — | 12.1 | — | |||||||||||||
International Large Cap Equity | 11.6 | — | 11.6 | — | |||||||||||||
Core Fixed Income | 13.2 | — | 13.2 | — | |||||||||||||
Small Cap Value Equity | 5.5 | — | 5.5 | — | |||||||||||||
Other | 4.5 | — | 4.5 | — | |||||||||||||
Total | $ | 117.3 | $ | 55.6 | $ | 61.7 | $ | — | |||||||||
The table below sets forth a summary of changes in the fair value of Level 3 assets for the year ended December 31, 2013: | |||||||||||||||||
For the year ended | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Balance, beginning of year | $ | — | |||||||||||||||
Transfers from Level 2 categorization | 0.7 | ||||||||||||||||
Balance, end of year | $ | 0.7 | |||||||||||||||
The following section describes the valuation methodologies used to measure the fair values of pension plan assets. There have been no changes in the methodologies used at December 31, 2013 and 2012. | |||||||||||||||||
▪ | Registered investment companies—These investments are valued at net asset value (“NAV”) of shares at year-end based on quoted market prices and are categorized within Level 1 of the fair value hierarchy. | ||||||||||||||||
▪ | Commingled and limited partnership funds—These investments are valued at the NAV of units held or ownership interest in partners’ capital at year-end. NAV is determined by dividing the fair value of the fund’s net assets by its units outstanding at the valuation date. Partnership interests are also based on the net asset fair value at the valuation date. All commingled fund and limited partnership investments are categorized within Level 2 of the fair value hierarchy. Each of the commingled funds and limited partnership investments are further described below: | ||||||||||||||||
• | Hedged Equity—Hedged equity funds are primarily comprised of shares or units in other investment companies or trusts. Trading positions are valued in the investment funds at fair value. | ||||||||||||||||
▪ | Core Real Estate—Core real estate funds are composed primarily of real estate investments owned directly or through partnership interests and mortgage loans on income-producing real estate. | ||||||||||||||||
▪ | International Large Cap Equity—International large cap equity funds invest in equity securities of companies ordinarily located outside the U.S. and Canada. | ||||||||||||||||
▪ | Core Fixed Income—Core fixed income funds primarily invest in fixed income securities. | ||||||||||||||||
▪ | Small Cap Value Equity—Limited partnership invested primarily in equity securities of small capitalization companies. | ||||||||||||||||
Plan Contributions. Our funding policy for funded pensions is to make annual contributions based on advice from our actuaries and the evaluation of our cash position, but not less than minimum statutory requirements. Contributions for unfunded plans were equal to benefit payments. | |||||||||||||||||
Expected Future Benefit Payments. The following benefit payments for our pension plans, which reflect expected future service, as appropriate, are expected to be paid for the periods indicated: | |||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||
Pension Benefits | Pension Benefits | ||||||||||||||||
2014 | $ | 9.8 | $ | 7.1 | |||||||||||||
2015 | 10.4 | 7.3 | |||||||||||||||
2016 | 10.4 | 7.6 | |||||||||||||||
2017 | 10.9 | 7.9 | |||||||||||||||
2018 | 10.9 | 9.2 | |||||||||||||||
2019 - 2023 | 55.9 | 47.1 | |||||||||||||||
Other Postretirement Benefit Plans | |||||||||||||||||
We maintain health care and life insurance benefit plans covering certain corporate and RPNA segment employees. We accrue the cost of postretirement benefits within the covered employees’ active service periods. | |||||||||||||||||
The financial status of the plans at December 31, 2013 and 2012, using a period-end measurement date, is as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Change in benefit obligations | |||||||||||||||||
Benefit obligation at beginning of period | $ | 56.4 | $ | 57.5 | |||||||||||||
Service cost | 0.2 | 0.2 | |||||||||||||||
Interest cost | 1.8 | 2.4 | |||||||||||||||
Benefits paid | (5.3 | ) | (4.9 | ) | |||||||||||||
Employee contributions | 0.7 | 0.8 | |||||||||||||||
Medicare subsidies received | 0.2 | 0.5 | |||||||||||||||
Actuarial gain | (9.0 | ) | (0.1 | ) | |||||||||||||
Benefit obligation at end of period | $ | 45 | $ | 56.4 | |||||||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at beginning of period | $ | — | $ | — | |||||||||||||
Employer contributions | 4.4 | 3.6 | |||||||||||||||
Employee contributions | 0.7 | 0.8 | |||||||||||||||
Medicare subsidies | 0.2 | 0.5 | |||||||||||||||
Benefits paid | (5.3 | ) | (4.9 | ) | |||||||||||||
Fair value of plan assets at end of period | $ | — | $ | — | |||||||||||||
Net amount recognized | $ | (45.0 | ) | $ | (56.4 | ) | |||||||||||
The following table provides the amounts recognized in the Consolidated Balance Sheet as of December 31, 2013 and 2012: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Accrued liabilities | $ | (4.1 | ) | $ | (4.4 | ) | |||||||||||
Accrued postretirement benefits | (40.9 | ) | (52.0 | ) | |||||||||||||
Net amount recognized | $ | (45.0 | ) | $ | (56.4 | ) | |||||||||||
Amounts recognized in accumulated other comprehensive income (loss) (before tax) consist of: | |||||||||||||||||
Net actuarial (gain) loss | $ | (1.4 | ) | $ | 8.1 | ||||||||||||
$ | (1.4 | ) | $ | 8.1 | |||||||||||||
Amortization expected to be recognized during next fiscal year (before tax): | |||||||||||||||||
Amortization of net actuarial gain | $ | 0.4 | |||||||||||||||
$ | 0.4 | ||||||||||||||||
Additional information: | |||||||||||||||||
For plans with benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate benefit obligation | $ | 45 | $ | 56.4 | |||||||||||||
Aggregate fair value of plan assets | — | — | |||||||||||||||
The components of net postretirement benefit expense for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Interest cost | 1.8 | 2.4 | 2.6 | ||||||||||||||
Amortization of net loss | 0.4 | 0.3 | — | ||||||||||||||
Net postretirement benefit expense | $ | 2.4 | $ | 2.9 | $ | 2.8 | |||||||||||
Plan Assumptions. We are required to make an assumption regarding the discount rate applied to determine service cost and interest cost. Our objective in selecting a discount rate is to select the best estimate of the rate at which the benefit obligations could be effectively settled. In making this estimate, projected cash flows are developed and are then matched with a yield curve based on an appropriate universe of high-quality corporate bonds. | |||||||||||||||||
The weighted average assumptions used to determine net postretirement benefit expense and benefit obligations are as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate used to determine expense | 3.2 | % | 4.3 | % | 5.2 | % | |||||||||||
Discount rate used to determine end of period benefit obligations | 4.2 | % | 3.2 | % | 4.3 | % | |||||||||||
Health care cost trend rate assumed for next year | 7.2 | % | 7.4 | % | 7.7 | % | |||||||||||
Ultimate trend rate | 4.5 | % | 4.5 | % | 4.5 | % | |||||||||||
Year rate reaches ultimate trend rate | 2027 | 2027 | 2027 | ||||||||||||||
Assumed health care cost trend rates have an effect on the amounts reported for postretirement benefit plans. A one-percentage change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||
1% increase | 1% decrease | ||||||||||||||||
Effect on total service and interest components | $ | 0.1 | $ | (0.1 | ) | ||||||||||||
Effect on postretirement benefit obligations | 1.8 | (1.5 | ) | ||||||||||||||
Plan Contributions. Our policy for the plan is to make contributions equal to the benefits paid during the year. | |||||||||||||||||
Expected Future Benefit Payments. The following benefit payments are expected to be paid for the periods indicated: | |||||||||||||||||
Gross Benefit Payment | Net of Medicare Part D Subsidy | ||||||||||||||||
2014 | $ | 4.3 | $ | 4.1 | |||||||||||||
2015 | 4.3 | 4.1 | |||||||||||||||
2016 | 4.2 | 4 | |||||||||||||||
2017 | 4.2 | 3.9 | |||||||||||||||
2018 | 4 | 3.8 | |||||||||||||||
2019 - 2023 | 16.5 | 16.2 | |||||||||||||||
Early Retirement Plans | |||||||||||||||||
Our Belgian and German subsidiaries sponsor various unfunded early retirement benefit plans. The obligations under these plans at December 31, 2013 and 2012 totaled $14.5 and $15.4, respectively, of which $5.1, the estimated payments under these plans for the year ending December 31, 2014, was classified as a current liability at December 31, 2013. |
StockBased_Compensation_Notes
Stock-Based Compensation (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Stock-Based Compensation | ' | |||||||||||||
11. STOCK-BASED COMPENSATION | ||||||||||||||
On June 1, 2010, the Board of Directors of Aleris Corporation (the “Board”) approved the Aleris Corporation 2010 Equity Incentive Plan (the “2010 Equity Plan”). Stock options, restricted stock units and restricted shares have been granted under the 2010 Equity Plan to certain members of senior management of the Company and other non-employee directors. All stock options granted have a life not to exceed ten years and vest over a period not to exceed four years. New common shares are issued upon stock option exercises from available common shares. The restricted stock units and restricted shares also vest over a period not to exceed four years. A portion of the stock options, as well as a portion of the restricted stock units and restricted shares, may vest upon a change in control event should the event occur prior to full vesting of these awards, depending on the amount of vesting that has already occurred at the time of the event in comparison to the change in our three largest stockholders’ overall level of the ownership that results from the event. | ||||||||||||||
On April 30, 2013, we paid a cash dividend of $10.00 per share, or approximately $313.0, pro rata, to our stockholders of record as of April 19, 2013. On February 28, 2011, June 30, 2011 and November 10, 2011, we paid dividends of $9.60, $3.20 and $3.20 per share to our stockholders of record as of February 17, 2011, June 21, 2011 and October 28, 2011, respectively. As provided in the 2010 Equity Plan, the Board approved the necessary actions to effectuate an option adjustment to (i) increase the number of shares underlying each option outstanding as of the respective dividend record dates (February 17, 2011, June 21, 2011, October 28, 2011 and April 19, 2013) and (ii) proportionately decrease the exercise price of each option to reflect the dilutive impact of the dividends paid. The option adjustments did not result in incremental compensation costs. All stock option activity shown below has been adjusted to reflect the option adjustments approved by the Board. | ||||||||||||||
During the year ended December 31, 2013, we granted 311,604 stock options (after adjustment for the April 2013 dividend) to a non-employee director and certain members of our senior management, of which 293,257 were granted to our chief executive officer and vested immediately upon grant. During the year ended December 31, 2013, we also granted 131,368 restricted stock units to a non-employee director and certain members of our senior management (of which 119,868 were granted to our chief executive officer on September 15, 2013). During the years ended December 31, 2013, 2012 and 2011, we recorded $14.3, $11.4 and $10.1 of compensation expense, respectively, associated with these options, restricted stock units and restricted shares. The total intrinsic value of options exercised during the year ended December 31, 2013 was $5.0. Intrinsic value is measured using the fair value at the date of exercise less the applicable exercise price. | ||||||||||||||
On September 15, 2013, we canceled 293,257 vested stock options that were previously granted and held by our chief executive officer in exchange for a cash payment of $4.4, subject to forfeiture if certain future service requirements are not satisfied. This transaction was accounted for as a modification resulting in liability classification of the stock options immediately prior to cash settlement. Approximately $1.8 of incremental stock-based compensation expense will be recognized associated with the modification over the next three years, which represents the fair value of the modified liability award. | ||||||||||||||
A summary of stock option activity (after adjustment for the April 2013 dividend) for the year ended December 31, 2013 is as follows: | ||||||||||||||
Weighted | Weighted average | Weighted | ||||||||||||
average | remaining | average | ||||||||||||
exercise price | contractual | grant date | ||||||||||||
Service-based options | Options | per option | term in years | fair value | ||||||||||
Outstanding at January 1, 2013 | 3,712,271 | $ | 23.24 | $ | 9.26 | |||||||||
Granted | 311,604 | 33.6 | 10.68 | |||||||||||
Exercised | (258,196 | ) | 26.1 | 10.09 | ||||||||||
Canceled | (293,257 | ) | 18.45 | 8.32 | ||||||||||
Forfeited | (164,136 | ) | 24.81 | 9.3 | ||||||||||
Outstanding at December 31, 2013 | 3,308,286 | $ | 24.34 | 6.6 | $ | 9.41 | ||||||||
Options vested and expected to vest at December 31, 2013 | 3,279,526 | $ | 24.26 | 6.6 | $ | 9.35 | ||||||||
Options exercisable at December 31, 2013 | 2,734,277 | $ | 23.83 | 6.5 | $ | 8.93 | ||||||||
The range of exercise prices of options outstanding at December 31, 2013 was $16.78 - $47.58. | ||||||||||||||
Because the Company does not have historical stock option exercise experience excluding former option holders that have terminated employment, which would provide a reasonable basis upon which to estimate the expected life of the stock options granted during the years ended December 31, 2013, 2012 and 2011, the Company has elected to use the simplified method to estimate the expected life of the stock options granted, as allowed by SEC SAB No. 107, and the continued acceptance of the simplified method indicated in SEC SAB No. 110. | ||||||||||||||
At December 31, 2013, there was $13.3 of compensation expense that is expected to be recorded over the next four years pertaining to the stock options, restricted stock units and restricted shares, with the majority of the expense to be recorded in 2014. | ||||||||||||||
The Black-Scholes method was used to estimate the fair value of the stock options granted. Under this method, the estimate of fair value is affected by the assumptions included in the following table. Expected equity volatility was determined based on historical stock prices and implied and stated volatilities of our peer companies. The following table summarizes the significant assumptions used to determine the fair value of the stock options granted during the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||
For the years ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average expected option life in years | 3.6 | 6 | 6 | |||||||||||
Weighted average grant date fair value | $10.68 | $24.47 | $18.90 | |||||||||||
Risk-free interest rate | 1.1% - 1.6% | 0.8% - 1.0% | 1.2% - 1.7% | |||||||||||
Equity volatility factor | 41 | % | 55 | % | 50.0% - 58.0% | |||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
A summary of restricted stock units and restricted shares activity for the year ended December 31, 2013 is as follows: | ||||||||||||||
Weighted | ||||||||||||||
average | ||||||||||||||
grant date | ||||||||||||||
Restricted Stock Units and Restricted Shares | Shares | fair value | ||||||||||||
Outstanding at January 1, 2013 | 155,709 | $ | 33.47 | |||||||||||
Granted | 131,368 | 34.65 | ||||||||||||
Vested | (86,931 | ) | 32.11 | |||||||||||
Forfeited | (11,137 | ) | 30.31 | |||||||||||
Outstanding at December 31, 2013 | 189,009 | $ | 35.54 | |||||||||||
The fair value of shares vested during the years ended December 31, 2013, 2012 and 2011 was $2.8, $2.8 and $2.6, respectively. The weighted average grant date fair value of restricted stock units and restricted shares granted during the years ended December 31, 2013, 2012 and 2011 was $34.65, $48.00 and $48.84, respectively. |
Derivative_And_Other_Financial
Derivative And Other Financial Instruments (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivative and Other Financial Instruments | ' | ||||||||||||||||
12. DERIVATIVE AND OTHER FINANCIAL INSTRUMENTS | |||||||||||||||||
We use forward contracts and options, as well as contractual price escalators, to reduce the risks associated with our metal, natural gas and other supply requirements and certain currency exposures. Generally, we enter into master netting arrangements with our counterparties and offset net derivative positions with the same counterparties against amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under those arrangements in our Consolidated Balance Sheet. For classification purposes, we record the net fair value of each type of derivative position that is expected to settle in less than one year with each counterparty as a net current asset or liability and each type of long-term position as a net long-term asset or liability. At December 31, 2013 and 2012, no cash collateral was posted. The amounts shown in the table below represent the gross amounts of recognized assets and liabilities, the amounts offset in the Consolidated Balance Sheet and the net amounts of assets and liabilities presented therein. As of December 31, 2013 and 2012, there were no amounts subject to an enforceable master netting arrangement or similar agreement that have not been offset in the Consolidated Balance Sheet. | |||||||||||||||||
Fair Value of Derivatives as of December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Derivatives by Type | Asset | Liability | Asset | Liability | |||||||||||||
Metal | $ | 13.3 | $ | (17.0 | ) | $ | 15.7 | $ | (18.8 | ) | |||||||
Natural gas | 0.4 | — | — | (0.6 | ) | ||||||||||||
Total | 13.7 | (17.0 | ) | 15.7 | (19.4 | ) | |||||||||||
Effect of counterparty netting | (12.3 | ) | 12.3 | (12.5 | ) | 12.5 | |||||||||||
Net derivatives as classified in the balance sheet | $ | 1.4 | $ | (4.7 | ) | $ | 3.2 | $ | (6.9 | ) | |||||||
The fair value of our derivative financial instruments at December 31, 2013 and 2012 are recorded on the Consolidated Balance Sheet as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
Asset Derivatives | Balance Sheet Location | 2013 | 2012 | ||||||||||||||
Metal | Prepaid expenses and other current assets | $ | 1 | $ | 2.8 | ||||||||||||
Other long-term assets | — | 0.4 | |||||||||||||||
Natural gas | Prepaid expenses and other current assets | 0.4 | — | ||||||||||||||
Total | $ | 1.4 | $ | 3.2 | |||||||||||||
December 31, | |||||||||||||||||
Liability Derivatives | Balance Sheet Location | 2013 | 2012 | ||||||||||||||
Metal | Accrued liabilities | $ | 1.7 | $ | 5.8 | ||||||||||||
Other long-term liabilities | 3 | 0.5 | |||||||||||||||
Natural gas | Accrued liabilities | — | 0.6 | ||||||||||||||
Total | $ | 4.7 | $ | 6.9 | |||||||||||||
Derivative contracts are recorded at fair value under ASC 820 using quoted market prices and significant other observable inputs. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||||||||||||||||
Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | |||||||||||||||||
Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates); and inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||||||
Level 3—Inputs that are both significant to the fair value measurement and unobservable. | |||||||||||||||||
We endeavor to utilize the best available information in measuring fair value. Where appropriate, valuations are adjusted for various factors such as liquidity, bid/offer spreads, and credit considerations. Such adjustments are generally based on available market evidence and unobservable inputs. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The following tables set forth our financial assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2013 and 2012 and the level in the fair value hierarchy: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||
Total Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||
Value in the | Active Markets for | Other Observable | Unobservable | ||||||||||||||
Consolidated | Identical Assets | Inputs | Inputs | ||||||||||||||
Description | Balance Sheet | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Derivative assets | $ | 13.7 | $ | — | $ | 13.7 | $ | — | |||||||||
Derivative liabilities | (17.0 | ) | — | (17.0 | ) | — | |||||||||||
Net derivative liabilities | $ | (3.3 | ) | $ | — | $ | (3.3 | ) | $ | — | |||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||
Total Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||
Value in the | Active Markets for | Other Observable | Unobservable | ||||||||||||||
Consolidated | Identical Assets | Inputs | Inputs | ||||||||||||||
Description | Balance Sheet | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Derivative assets | $ | 15.7 | $ | — | $ | 15.7 | $ | — | |||||||||
Derivative liabilities | (19.4 | ) | — | (19.4 | ) | — | |||||||||||
Net derivative liabilities | $ | (3.7 | ) | $ | — | $ | (3.7 | ) | $ | — | |||||||
Both realized and unrealized gains and losses on derivative financial instruments are included within “Gains on derivative financial instruments” in the Consolidated Statements of Operations. Realized (gains) losses on derivative financial instruments totaled the following during the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||
Realized (Gains) Losses on Derivative Financial Instruments | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Metal | $ | (26.3 | ) | $ | 5 | $ | (41.9 | ) | |||||||||
Natural gas | 0.6 | 6.4 | 3.8 | ||||||||||||||
Currency | — | 1.6 | 0.3 | ||||||||||||||
Metal Hedging | |||||||||||||||||
The selling prices of the majority of the orders for our rolled and extruded products are established at the time of order entry or, for certain customers, under long-term contracts. As the related raw materials used to produce these orders are purchased several months or years after the selling prices are fixed, margins are subject to the risk of changes in the purchase price of the raw materials used for these fixed price sales. In order to manage this transactional exposure, LME future or forward purchase contracts are purchased at the time the selling prices are fixed. As metal is purchased to fill these fixed price sales orders, LME future or forward contracts are then sold. We also maintain a significant amount of inventory on-hand to meet anticipated and unpriced future sales. In order to preserve the value of this inventory, LME future or forward contracts are sold at the time inventory is purchased. As sales orders are priced, LME future or forward contracts are purchased. These derivatives generally settle within three months. We can also use call option contracts, which function in a manner similar to the natural gas call option contracts discussed below and put option contracts for managing metal price exposures. Option contracts require the payment of a premium which is recorded as a realized loss upon settlement or expiration of the option contract. Upon settlement of a put option contract, we receive cash and recognize a related gain if the LME closing price is less than the strike price of the put option. If the put option strike price is less than the LME closing price, no amount is paid and the option expires. As of December 31, 2013 and 2012, we had 0.2 metric tons and 0.2 metric tons of metal buy and sell forward contracts, respectively. | |||||||||||||||||
Natural Gas Hedging | |||||||||||||||||
To manage our price exposure for natural gas purchases, we fix the future price of a portion of our natural gas requirements by entering into financial hedge agreements. Under these agreements, payments are made or received based on the differential between the monthly closing price on the New York Mercantile Exchange (“NYMEX”) and the contractual hedge price. We can use a combination of call option contracts and put option contracts for managing the exposure to increasing prices while maintaining our ability to benefit from declining prices. Upon settlement of call option contracts, we receive cash and recognize a related gain if the NYMEX closing price exceeds the strike price of the call option. If the call option strike price exceeds the NYMEX closing price, no amount is received and the option expires unexercised. Upon settlement of a put option contract, we pay cash and recognize a related loss if the NYMEX closing price is lower than the strike price of the put option. If the put option strike price is less than the NYMEX closing price, no amount is paid and the option expires unexercised. Option contracts require the payment of a premium which is recorded as a realized loss upon settlement or expiration of the option contract. Natural gas cost can also be managed through the use of cost escalators included in some of our long-term supply contracts with customers, which limits exposure to natural gas price risk. As of December 31, 2013 and 2012, we had 2.9 trillion and 2.2 trillion of British thermal unit forward buy contracts, respectively. | |||||||||||||||||
Currency Exchange Hedging | |||||||||||||||||
From time to time, we may enter into currency forwards, futures, call options and similar derivative financial instruments to limit our exposure to fluctuations in currency exchange rates. During 2011 and 2012, Aleris Zhenjiang entered into euro call option contracts to manage certain exposures related to euro-denominated equipment contracts. As of December 31, 2013 and 2012, no euro call option contracts were outstanding. | |||||||||||||||||
Credit Risk | |||||||||||||||||
We are exposed to losses in the event of non-performance by the counterparties to the derivative financial instruments discussed above; however, we do not anticipate any non-performance by the counterparties. The counterparties are evaluated for creditworthiness and risk assessment prior to initiating trading activities with the brokers and periodically throughout each year while actively trading. | |||||||||||||||||
Other Financial Instruments | |||||||||||||||||
The carrying amount and fair values of our other financial instruments at December 31, 2013 and 2012 are as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Carrying | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Cash and cash equivalents | $ | 60.1 | $ | 60.1 | $ | 592.9 | $ | 592.9 | |||||||||
ABL Facility | — | — | — | — | |||||||||||||
Exchangeable Notes | 44.2 | 72.7 | 44.2 | 103.4 | |||||||||||||
7 5/8% Senior Notes | 494.1 | 530 | 492.7 | 507.5 | |||||||||||||
7 7/8% Senior Notes | 492.5 | 531.3 | 491.4 | 502.5 | |||||||||||||
Zhenjiang Term Loans | 192.2 | 193.2 | 186.8 | 188.1 | |||||||||||||
The following tables set forth our other financial instruments for which fair value is disclosed and the level in the fair value hierarchy within which the fair value measurements are categorized as of December 31, 2013 and 2012: | |||||||||||||||||
Fair value measurements at December 31, 2013 using: | |||||||||||||||||
Description | Total estimated fair value | Quoted prices in | Significant | Significant | |||||||||||||
active markets for | other observable | unobservable | |||||||||||||||
identical assets | inputs | inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Cash and cash equivalents | $ | 60.1 | $ | 60.1 | $ | — | $ | — | |||||||||
Exchangeable Notes | 72.7 | — | — | 72.7 | |||||||||||||
7 5/8% Senior Notes | 530 | 530 | — | — | |||||||||||||
7 7/8% Senior Notes | 531.3 | 531.3 | — | — | |||||||||||||
Zhenjiang Term Loans | 193.2 | — | — | 193.2 | |||||||||||||
Fair value measurements at December 31, 2012 using: | |||||||||||||||||
Description | Total estimated fair value | Quoted prices in | Significant | Significant | |||||||||||||
active markets for | other observable | unobservable | |||||||||||||||
identical assets | inputs | inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Cash and cash equivalents | $ | 592.9 | $ | 592.9 | $ | — | $ | — | |||||||||
Exchangeable Notes | 103.4 | — | — | 103.4 | |||||||||||||
7 5/8% Senior Notes | 507.5 | 507.5 | — | — | |||||||||||||
7 7/8% Senior Notes | 502.5 | 502.5 | — | — | |||||||||||||
Zhenjiang Term Loans | 188.1 | — | — | 188.1 | |||||||||||||
The fair value of Aleris International’s Exchangeable Notes was estimated using a binomial lattice pricing model based on the fair value of our common stock, a risk-free interest rate of 2.3% as of December 31, 2013 and 1.3% as of December 31, 2012 and expected equity volatility of 55% as of December 31, 2013 and 60% as of December 31, 2012. Expected equity volatility was determined based on historical stock prices and implied and stated volatilities of our peer companies. The fair values of the 7 5/8% Senior Notes and the 7 7/8% Senior Notes were estimated using market quotations. The principal amount of the Zhenjiang Term Loans approximates fair value because the interest rate paid is variable, is set for periods of six months or less and there have been no significant changes in the credit risk of Aleris Zhenjiang subsequent to the inception of the China Loan Facility. |
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
13. INCOME TAXES | |||||||||||||
The (loss) income before income taxes was as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | (77.3 | ) | $ | 2.4 | $ | 3.4 | ||||||
International | 38.6 | 130 | 153.6 | ||||||||||
Total | $ | (38.7 | ) | $ | 132.4 | $ | 157 | ||||||
The (benefit from) provision for income taxes was as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | (0.1 | ) | $ | (1.3 | ) | $ | 2.5 | |||||
State | (0.2 | ) | 0.3 | 1.2 | |||||||||
International | 11.4 | 16 | 25.7 | ||||||||||
$ | 11.1 | $ | 15 | $ | 29.4 | ||||||||
Deferred: | |||||||||||||
Federal | $ | 0.4 | $ | (1.1 | ) | $ | 0.4 | ||||||
State | — | — | (0.2 | ) | |||||||||
International | (14.1 | ) | 11.5 | (33.8 | ) | ||||||||
$ | (13.7 | ) | $ | 10.4 | $ | (33.6 | ) | ||||||
(Benefit from) provision for income taxes | $ | (2.6 | ) | $ | 25.4 | $ | (4.2 | ) | |||||
The income tax (benefit) expense, computed by applying the federal statutory tax rate to the (loss) income before income taxes, differed from the (benefit from) provision for income taxes as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax (benefit) expense at the federal statutory rate | $ | (13.5 | ) | $ | 46.4 | $ | 55 | ||||||
Foreign income tax rate differential and permanent differences, net | (18.2 | ) | (19.1 | ) | (53.4 | ) | |||||||
State income taxes, net | (4.4 | ) | (1.3 | ) | 0.9 | ||||||||
Permanent differences, net | 2.3 | (0.6 | ) | 0.6 | |||||||||
Tax on deemed dividend of foreign earnings, net of foreign tax credit | (3.8 | ) | 7.1 | 19 | |||||||||
Foreign intercompany debt revaluation | — | — | 6.1 | ||||||||||
Change in uncertain tax position | 1.6 | 0.4 | 6.3 | ||||||||||
Change in valuation allowance | 33 | (8.0 | ) | (37.8 | ) | ||||||||
Other, net | 0.4 | 0.5 | (0.9 | ) | |||||||||
(Benefit from) provision for income taxes | $ | (2.6 | ) | $ | 25.4 | $ | (4.2 | ) | |||||
A $134.4 tax effect and a corresponding valuation allowance related to an increase in the tax net operating loss in a non-U.S. tax jurisdiction were excluded from “Foreign income tax rate differential and permanent differences, net” and “Change in valuation allowance” in the preceding reconciliation for the year ended December 31, 2012. | |||||||||||||
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | |||||||||||||
Significant components of our deferred tax liabilities and assets are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Liabilities | |||||||||||||
Property, plant and equipment and intangible assets | $ | 45.8 | $ | 37.2 | |||||||||
Other | 11.9 | 11.6 | |||||||||||
Total deferred tax liabilities | $ | 57.7 | $ | 48.8 | |||||||||
Deferred Tax Assets | |||||||||||||
Net operating loss carryforwards | $ | 437.9 | $ | 356.2 | |||||||||
Property, plant and equipment and intangible assets | 81.1 | 95.5 | |||||||||||
Accrued pension benefits | 38.2 | 51.5 | |||||||||||
Other | 78.4 | 77.3 | |||||||||||
$ | 635.6 | $ | 580.5 | ||||||||||
Valuation allowance | (533.9 | ) | (502.8 | ) | |||||||||
Total deferred tax assets | $ | 101.7 | $ | 77.7 | |||||||||
Net deferred tax assets | $ | 44 | $ | 28.9 | |||||||||
At December 31, 2013 and 2012, we had valuation allowances of $533.9 and $502.8, respectively, to reduce certain deferred tax assets to amounts that are more likely than not to be realized. Of the total December 31, 2013 and 2012 valuation allowances, $398.6 and $384.6 relate primarily to net operating losses and future tax deductions for depreciation in non-U.S. tax jurisdictions, $118.3 and $105.5 relate primarily to the U.S. federal effects of net operating losses and amortization and $17.0 and $12.7 relate primarily to the state effects of net operating losses and amortization, respectively. The net increase in the valuation allowance is primarily attributable to increases in the tax net operating losses in the U.S. and in non-U.S. tax jurisdictions that have valuation allowances against their net deferred tax assets. We will maintain valuation allowances against our net deferred tax assets in the U.S. and other applicable jurisdictions until objective positive evidence exists to reduce or eliminate the valuation allowance. | |||||||||||||
The following table summarizes the change in the valuation allowances: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 502.8 | $ | 364.6 | $ | 399.4 | |||||||
Additions (reversals) recorded in the (benefit from) provision for income taxes | 33 | 126.4 | (37.8 | ) | |||||||||
Accumulated other comprehensive (loss) income | (15.3 | ) | 6.6 | 11 | |||||||||
Currency translation | 13.4 | 5.2 | (8.0 | ) | |||||||||
Balance at end of the period | $ | 533.9 | $ | 502.8 | $ | 364.6 | |||||||
The provisions related to the tax accounting for stock-based compensation prohibit the recognition of a deferred tax asset for an excess tax benefit that has not yet been realized. As a result, we will recognize a tax benefit from $4.8 of stock-based compensation expense in additional paid-in capital if an incremental tax benefit is realized or realizable after all other tax attributes currently available to us have been utilized. | |||||||||||||
At December 31, 2013, we had approximately $1,289.3 of unused net operating loss carryforwards associated with non-U.S. tax jurisdictions, of which $1,123.7 can be carried forward indefinitely. The remaining net operating loss carryforwards may be carried forward from 5 to 20 years. At December 31, 2013, the U.S. federal net operating loss carryforward was $153.5. The tax benefits associated with state net operating loss carryforwards at December 31, 2013 were $9.0. | |||||||||||||
At December 31, 2013 and 2012, we had $4.7 and $3.6, respectively, of unused state tax credit carryforwards for which a full valuation allowance has been provided. | |||||||||||||
Substantially all of the $22.5 of undistributed earnings of our non-U.S. investments are considered permanently reinvested and, accordingly, no additional U.S. income taxes or non-U.S. withholding taxes have been provided. It is not practicable to calculate the deferred taxes associated with the remittance of these earnings. | |||||||||||||
Aleris Corporation and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. | |||||||||||||
The following table summarizes the change in uncertain tax positions: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 18.5 | $ | 17.6 | $ | 12.5 | |||||||
Additions based on tax positions related to current year | — | 2.1 | — | ||||||||||
Additions for tax positions of prior years | 2.2 | 0.4 | 8.9 | ||||||||||
Reductions for tax positions of prior years | (0.2 | ) | (0.5 | ) | (2.7 | ) | |||||||
Settlements | (17.7 | ) | (1.1 | ) | (1.1 | ) | |||||||
Balance at end of period | $ | 2.8 | $ | 18.5 | $ | 17.6 | |||||||
The majority of the gross unrecognized tax benefits, if recognized, would affect the annual effective tax rate. | |||||||||||||
We recognize interest and penalties related to uncertain tax positions within “(Benefit from) provision for income taxes” in the Consolidated Statements of Operations. Interest of $0.2 and $3.5 was accrued on the uncertain tax positions as of December 31, 2013 and 2012, respectively. Total interest of $0.3, $1.5 and $1.3, was recognized as part of the (benefit from) provision for income taxes for the years ended December 31, 2013, 2012 and 2011, respectively. Accrued penalties are not significant. | |||||||||||||
The 2009 through 2012 tax years remain open to examination. During the first quarter of 2013, the IRS commenced an examination of our tax returns for the years ended December 31, 2011 and 2010 that is anticipated to be completed within six months of the reporting date. The IRS has proposed and we have accepted an adjustment to foreign deemed dividends that will result in a decrease in the reserve of $0.3. During the fourth quarter of 2013, a non-U.S. taxing jurisdiction commenced an examination of our tax returns for the years ended December 31, 2012, 2011, 2010 and 2009 that is anticipated to be completed within twelve months of the reporting date. |
Commitments_And_Contingencies_
Commitments And Contingencies (Notes) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Commitments and Contingencies | ' | ||||||||||||||||||||||||
14. COMMITMENTS AND CONTINGENCIES | |||||||||||||||||||||||||
Operating Leases | |||||||||||||||||||||||||
We lease various types of equipment and property, primarily office space at various locations and the equipment utilized in our operations. The future minimum lease payments required under operating leases that have initial or remaining non-cancellable lease terms in excess of one year as of December 31, 2013, are as follows: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||
Operating leases | $ | 5.8 | $ | 5.5 | $ | 3.7 | $ | 1.7 | $ | 0.9 | $ | — | |||||||||||||
Rental expense for the years ended December 31, 2013, 2012 and 2011 was $14.9, $16.0 and $18.5, respectively. | |||||||||||||||||||||||||
Purchase Obligations | |||||||||||||||||||||||||
Our non-cancellable purchase obligations are principally for materials, such as metals and fluxes used in our manufacturing operations, natural gas and other services. Our purchase obligations are long-term agreements to purchase goods or services that are enforceable and legally binding on us that specify all significant terms, including fixed or minimum quantities to be purchased; fixed, minimum or variable price provisions; and the approximate timing of the transaction. Purchase obligations include the pricing of anticipated metal purchases using contractual metal prices or, where pricing is dependent upon the prevailing LME metal prices at the time of delivery, market metals prices as of December 31, 2013, as well as natural gas and electricity purchases using minimum contractual quantities and either contractual prices or prevailing rates. As a result of the variability in the pricing of many of our metals purchase obligations, actual amounts paid may vary from the amounts shown below. As of December 31, 2013, amounts due under long-term non-cancellable purchase obligations are as follows: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||
Purchase obligations | $ | 147.3 | $ | 72.2 | $ | 38.6 | $ | 8.1 | $ | 0.2 | $ | — | |||||||||||||
Amounts purchased under long-term purchase obligations during the years ended December 31, 2013, 2012 and 2011 approximated previously projected amounts. | |||||||||||||||||||||||||
Employees | |||||||||||||||||||||||||
Approximately 46% of our U.S. employees and substantially all of our non-U.S. employees are covered by collective bargaining agreements. | |||||||||||||||||||||||||
Environmental Proceedings | |||||||||||||||||||||||||
Our operations are subject to environmental laws and regulations governing air emissions, wastewater discharges, the handling, disposal and remediation of hazardous substances and wastes and employee health and safety. These laws can impose joint and several liabilities for releases or threatened releases of hazardous substances upon statutorily defined parties, including us, regardless of fault or the lawfulness of the original activity or disposal. Given the changing nature of environmental legal requirements, we may be required, from time to time, to take environmental control measures at some of our facilities to meet future requirements. | |||||||||||||||||||||||||
We have been named as a potentially responsible party in certain proceedings initiated pursuant to the Comprehensive Environmental Response, Compensation, and Liability Act and similar stated statutes and may be named a potentially responsible party in other similar proceedings in the future. It is not anticipated that the costs incurred in connection with the presently pending proceedings will, individually or in the aggregate, have a material adverse effect on our financial position, results of operations or cash flows. | |||||||||||||||||||||||||
We are performing operations and maintenance at two Superfund sites for matters arising out of past waste disposal activity associated with closed facilities. We are also under orders to perform environmental remediation by agencies in four states and one non-U.S. country at seven sites. | |||||||||||||||||||||||||
Our reserves for environmental remediation liabilities totaled $35.3 and $34.2 at December 31, 2013 and 2012, respectively, and have been classified as “Other long-term liabilities” and “Accrued liabilities” in the Consolidated Balance Sheet. Of the environmental liabilities recorded at December 31, 2013 and December 31, 2012, $6.3 and $6.5, respectively, are indemnified by Corus Group Ltd. These amounts are in addition to our asset retirement obligations discussed in Note 8, “Asset Retirement Obligations,” and represent the most probable costs of remedial actions. We estimate the costs related to currently identified remedial actions will be paid out primarily over the next 10 years. | |||||||||||||||||||||||||
The changes in our accruals for environmental liabilities are as follows: | |||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Balance at the beginning of the period | $ | 34.2 | $ | 36.5 | $ | 36.2 | |||||||||||||||||||
Revisions and liabilities incurred | 1.1 | (1.8 | ) | 0.7 | |||||||||||||||||||||
Payments | (1.7 | ) | (0.6 | ) | (0.2 | ) | |||||||||||||||||||
Translation and other charges | 1.7 | 0.1 | (0.2 | ) | |||||||||||||||||||||
Balance at the end of the period | $ | 35.3 | $ | 34.2 | $ | 36.5 | |||||||||||||||||||
Legal Proceedings | |||||||||||||||||||||||||
We are party to routine litigation and proceedings as part of the ordinary course of business and do not believe that the outcome of any existing proceedings would have a material adverse effect on our financial position, results of operations or cash flows. We have established accruals for those loss contingencies, including litigation and environmental contingencies, for which it has been determined that a loss is probable; none of such loss contingencies is material. For those loss contingencies, including litigation and environmental contingencies, which have been determined to be reasonably possible, an estimate of the possible loss or range of loss cannot be determined because the claims, amount claimed, facts or legal status are not sufficiently developed or advanced in order to make such a determination. While we cannot estimate the loss or range of loss at this time, we do not believe that the outcome of any of these existing proceedings would be material to our financial position, results of operations or cash flows. |
Segment_Information_Notes
Segment Information (Notes) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Segment and Geographic Information | ' | ||||||||||||||||||||||||||||||||
15. SEGMENT AND GEOGRAPHIC INFORMATION | |||||||||||||||||||||||||||||||||
The Company’s operating structure includes aluminum rolled and extruded products and aluminum recycling operating segments. This operating structure supports our growth strategies and provides the appropriate focus on our global markets, including aerospace, automotive, commercial and defense plate and heat exchangers, as well as on our regionally-based products and customers. We report six operating segments (each of which is considered a reportable segment). The reportable segments are based on the organizational structure that is used by the Company’s chief operating decision maker to evaluate performance, make decisions on resource allocation and for which discrete financial information is available. | |||||||||||||||||||||||||||||||||
The Company’s operating segments are: | |||||||||||||||||||||||||||||||||
▪ | RPNA; | ||||||||||||||||||||||||||||||||
▪ | RPEU; | ||||||||||||||||||||||||||||||||
▪ | Rolled Products Asia Pacific (“RPAP”); | ||||||||||||||||||||||||||||||||
▪ | Extrusions; | ||||||||||||||||||||||||||||||||
▪ | RSAA; and | ||||||||||||||||||||||||||||||||
▪ | RSEU. | ||||||||||||||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, substantially all of Aleris Zhenjiang’s operating losses were categorized as start-up expenses, which are not included in management’s definition of segment performance, as defined below. | |||||||||||||||||||||||||||||||||
Rolled Products North America | |||||||||||||||||||||||||||||||||
Our RPNA segment consists of seven manufacturing facilities located throughout the United States that produce rolled aluminum and coated products. Our RPNA segment produces rolled products for a wide variety of applications, including building and construction, distribution, transportation and other uses in the consumer durables general industrial segments. Except for depot sales, which are for standard size products, substantially all of our rolled aluminum products in the U.S. are manufactured to specific customer requirements, using direct-chill, continuous ingot cast and pellet compaction technologies that allow us to use and offer a variety of alloys and products for a number of end-uses. Specifically, those products are integrated into, among other applications, building panels, truck trailers, gutters, appliances and recreational vehicles. | |||||||||||||||||||||||||||||||||
Rolled Products Europe | |||||||||||||||||||||||||||||||||
Our RPEU segment consists of two rolled aluminum products manufacturing facilities, located in Koblenz, Germany and Duffel, Belgium, as well as an aluminum casting plant in Germany that produces rolling slab and billets used by our RPEU and Extrusions segments. Our RPEU segment produces rolled products for a wide variety of technically sophisticated applications, including aerospace plate and sheet, brazing sheet (clad aluminum material used for, among other applications, vehicle radiators and HVAC systems), automotive sheet, and heat treated plate for engineering uses, as well as for other uses in the transportation, construction and packaging industries. Substantially all of our rolled aluminum products in Europe are manufactured to specific customer requirements using direct-chill ingot cast technologies that allow us to use and offer a variety of alloys and products for a number of technically demanding end-uses. | |||||||||||||||||||||||||||||||||
Rolled Products Asia Pacific | |||||||||||||||||||||||||||||||||
Our RPAP segment consists of the Zhenjiang rolling mill, a state-of-the-art aluminum rolling mill in China, that produces value-added plate products for the aerospace, engineering, distribution, building and construction, and other transportation industry segments worldwide. We designed the mill with the capability to expand into other high value-added products with a wide variety of technically sophisticated applications. Construction of the mill was substantially complete in 2012 and limited production began in the beginning of 2013. The mill will continue to incur start-up expenses as we increase volume to full production and are qualified by our aerospace customers. These start-up expenses represent operating losses incurred while the mill is ramping up production, as well as expenses associated with obtaining certification to produce aircraft plate. Substantially all of our rolled aluminum products in China will be manufactured to specific customer requirements using direct-chill ingot cast technologies that allow us to use and offer a variety of alloys and products for a number of technically demanding end-uses. | |||||||||||||||||||||||||||||||||
Extrusions | |||||||||||||||||||||||||||||||||
Our Extrusions segment produces soft and hard alloy extruded aluminum profiles targeted at high demand end-uses. Our extruded aluminum products are used for the aerospace, automotive, building and construction, electrical, mechanical engineering and other transportation (rail and shipbuilding) industries. The extruded products business includes five extrusion facilities located in Germany, Belgium and China. Industrial extrusions are made in all locations and the production of extrusion systems, including building systems, is concentrated in Vogt, Germany. Large extrusions and project business serving rail and other transportation sectors are concentrated in Bonn, Germany and Tianjin, China, with rods and hard alloys produced in Duffel, Belgium. The extrusion plant in Bonn operates one of the largest extrusion presses in Europe, which is mainly used for long and wide sections for railway, shipbuilding and other applications. In addition, we perform value-added fabrication to most of our extruded products. | |||||||||||||||||||||||||||||||||
Recycling and Specification Alloys North America | |||||||||||||||||||||||||||||||||
Our RSAA segment includes aluminum melting, processing and recycling activities, as well as our specification alloy manufacturing business, located in North America. Our North American recycling business consists of 18 facilities located in the United States, Canada and Mexico. This segment’s recycling operations convert scrap and dross (a by-product of melting aluminum) and combine these materials with other alloying agents as needed to produce recycled aluminum generally for customers serving end-uses related to automotive, consumer packaging, steel, transportation and construction. The segment’s specification alloy operations combine various aluminum scrap types with hardeners and other additives to produce alloys with chemical compositions and specific properties, including increased strength, formability and wear resistance, as specified by customers for their particular applications. Our specification alloy operations typically deliver products in molten or ingot form to customers principally in the North American automotive industry. A significant percentage of this segment’s volume is sold through tolling arrangements, in which we convert customer-owned scrap and dross and return the recycled metal in ingot or molten form to our customers for a fee. | |||||||||||||||||||||||||||||||||
Recycling and Specification Alloys Europe | |||||||||||||||||||||||||||||||||
We are a leading European recycler of aluminum scrap and magnesium through our RSEU segment. Our recycling operations primarily convert aluminum scrap, dross and other alloying agents as needed and deliver the recycled metal and specification alloys in molten or ingot form to our customers. Our European recycling business consists of six facilities located in Germany, Norway and Wales. Our RSEU segment supplies specification alloys to the European automobile industry and serves other European aluminum industries from its plants. The segment’s specification alloy operations combine various aluminum scrap types with hardeners and other additives to produce alloys with chemical compositions and specific properties, including increased strength, formability and wear resistance, as specified by customers for their particular applications. The segment’s recycling operations typically service other aluminum producers and manufacturers, generally under tolling arrangements, where we convert customer-owned scrap and dross and return the recycled metal to our customers for a fee. | |||||||||||||||||||||||||||||||||
Measurement of Segment Income or Loss and Segment Assets | |||||||||||||||||||||||||||||||||
The accounting policies of the reportable segments are the same as those described in Note 2, “Summary of Significant Accounting Policies.” Our measure of profitability for our operating segments is referred to as segment income and loss. Segment income and loss includes gross profits, segment specific realized gains and losses on derivative financial instruments, segment specific other income and expense, segment specific selling, general and administrative (“SG&A”) expense and an allocation of certain regional and global functional SG&A expenses. Segment income and loss excludes provisions for and benefits from income taxes, restructuring items, interest, depreciation and amortization, unrealized and certain realized gains and losses on derivative financial instruments, corporate general and administrative costs, start-up expenses, gains and losses on asset sales, currency exchange gains and losses on debt, gains and losses on intercompany receivables and certain other gains and losses. Intersegment sales and transfers are recorded at market value. Consolidated cash, net capitalized debt costs, deferred tax assets and assets related to our headquarters offices are not allocated to the segments. Prior period segment asset amounts and payments for property, plant and equipment have been restated to conform to our current reportable segments, which were changed in the first quarter of 2013 to include RPAP. | |||||||||||||||||||||||||||||||||
Reportable Segment Information | |||||||||||||||||||||||||||||||||
The following table shows our revenues, segment income (loss) and other financial information for each of our reportable segments: | |||||||||||||||||||||||||||||||||
Intersegment | |||||||||||||||||||||||||||||||||
RPNA | RPEU | RPAP | Extrusions | RSAA | RSEU | Revenues | Total | ||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,192.60 | $ | 1,317.70 | $ | 10.5 | $ | 347 | $ | 932.1 | $ | 532.6 | $ | 4,332.50 | |||||||||||||||||||
Inter-segment revenues | 2.2 | 125.5 | 10.2 | 8.2 | 6.3 | 28.5 | $ | (180.9 | ) | — | |||||||||||||||||||||||
Total revenues | 1,194.80 | 1,443.20 | 20.7 | 355.2 | 938.4 | 561.1 | (180.9 | ) | 4,332.50 | ||||||||||||||||||||||||
Segment income (loss) | 81.8 | 132.1 | (0.2 | ) | 11.7 | 54 | 14.3 | 293.7 | |||||||||||||||||||||||||
Segment assets | 524.7 | 699.2 | 439.4 | 141.8 | 294.5 | 183.7 | 2,283.30 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 44.1 | 41 | 92.5 | 12.6 | 23.4 | 14 | 227.6 | ||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,297.60 | $ | 1,254.60 | $ | — | $ | 349.1 | $ | 940.3 | $ | 570.8 | $ | 4,412.40 | |||||||||||||||||||
Inter-segment revenues | 2.1 | 70.3 | — | 8.3 | 7.3 | 31.1 | $ | (119.1 | ) | — | |||||||||||||||||||||||
Total revenues | 1,299.70 | 1,324.90 | — | 357.4 | 947.6 | 601.9 | (119.1 | ) | 4,412.40 | ||||||||||||||||||||||||
Segment income | 117.6 | 144.6 | — | 16.4 | 53.6 | 19.4 | 351.6 | ||||||||||||||||||||||||||
Segment assets | 566 | 681.3 | 351.4 | 133.1 | 287.6 | 175.3 | 2,194.70 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 54 | 62.8 | 173.8 | 17 | 46.4 | 11.4 | 365.4 | ||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,344.60 | $ | 1,460.10 | $ | — | $ | 398.7 | $ | 978.6 | $ | 644.4 | $ | 4,826.40 | |||||||||||||||||||
Inter-segment revenues | 1.8 | 81.5 | — | 11.6 | 5.2 | 40.7 | $ | (140.8 | ) | — | |||||||||||||||||||||||
Total revenues | 1,346.40 | 1,541.60 | — | 410.3 | 983.8 | 685.1 | (140.8 | ) | 4,826.40 | ||||||||||||||||||||||||
Segment income | 111.1 | 157.6 | — | 10.9 | 80.9 | 35.3 | 395.8 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 35.1 | 19.3 | 79.7 | 12.7 | 34.1 | 15.8 | 196.7 | ||||||||||||||||||||||||||
Reconciliations of total reportable segment disclosures to our consolidated financial statements are as follows: | |||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Profits | |||||||||||||||||||||||||||||||||
Total segment income | $ | 293.7 | $ | 351.6 | $ | 395.8 | |||||||||||||||||||||||||||
Unallocated amounts: | |||||||||||||||||||||||||||||||||
Depreciation and amortization | (129.5 | ) | (84.8 | ) | (70.3 | ) | |||||||||||||||||||||||||||
Corporate general and administrative expenses, excluding depreciation, amortization and start-up expenses | (50.8 | ) | (56.3 | ) | (60.8 | ) | |||||||||||||||||||||||||||
Restructuring charges | (10.7 | ) | (9.6 | ) | (4.4 | ) | |||||||||||||||||||||||||||
Interest expense, net | (97.9 | ) | (52.4 | ) | (46.3 | ) | |||||||||||||||||||||||||||
Unallocated gains (losses) on derivative financial instruments | 0.6 | 13.9 | (37.9 | ) | |||||||||||||||||||||||||||||
Unallocated currency exchange (losses) gains | (4.6 | ) | 0.2 | (1.2 | ) | ||||||||||||||||||||||||||||
Start-up expenses | (35.8 | ) | (28.1 | ) | (10.2 | ) | |||||||||||||||||||||||||||
Other expense, net | (3.7 | ) | (2.1 | ) | (7.7 | ) | |||||||||||||||||||||||||||
(Loss) income before income taxes | $ | (38.7 | ) | $ | 132.4 | $ | 157 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | |||||||||||||||||||||||||||||||||
Total payments for property, plant and equipment for reportable segments | $ | 227.6 | $ | 365.4 | $ | 196.7 | |||||||||||||||||||||||||||
Other payments for property, plant and equipment | 10.7 | 24.8 | 7.9 | ||||||||||||||||||||||||||||||
Total consolidated payments for property, plant and equipment | $ | 238.3 | $ | 390.2 | $ | 204.6 | |||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Total assets for reportable segments | $ | 2,283.30 | $ | 2,194.70 | |||||||||||||||||||||||||||||
Unallocated assets | 189.6 | 723.5 | |||||||||||||||||||||||||||||||
Total consolidated assets | $ | 2,472.90 | $ | 2,918.20 | |||||||||||||||||||||||||||||
Geographic Information | |||||||||||||||||||||||||||||||||
The following table sets forth the geographic breakout of our revenues (based on customer location) and long-lived tangible assets (net of accumulated depreciation and amortization): | |||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||||
United States | $ | 1,970.10 | $ | 2,077.30 | $ | 2,154.20 | |||||||||||||||||||||||||||
International: | |||||||||||||||||||||||||||||||||
Asia | 162.9 | 185.1 | 181.4 | ||||||||||||||||||||||||||||||
Europe | 1,864.60 | 1,822.60 | 2,160.10 | ||||||||||||||||||||||||||||||
Mexico, Canada and South America | 329.3 | 320.7 | 291.9 | ||||||||||||||||||||||||||||||
Other | 5.6 | 6.7 | 38.8 | ||||||||||||||||||||||||||||||
Total international revenues | 2,362.40 | 2,335.10 | 2,672.20 | ||||||||||||||||||||||||||||||
Consolidated revenues | $ | 4,332.50 | $ | 4,412.40 | $ | 4,826.40 | |||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Long-lived tangible assets | |||||||||||||||||||||||||||||||||
United States | $ | 380.2 | $ | 377 | |||||||||||||||||||||||||||||
International: | |||||||||||||||||||||||||||||||||
Asia | 372.9 | 329.7 | |||||||||||||||||||||||||||||||
Europe | 384.4 | 350.5 | |||||||||||||||||||||||||||||||
Mexico and Canada | 20.2 | 19.8 | |||||||||||||||||||||||||||||||
Total international | 777.5 | 700 | |||||||||||||||||||||||||||||||
Consolidated total | $ | 1,157.70 | $ | 1,077.00 | |||||||||||||||||||||||||||||
Earnings_Per_Share_Notes
Earnings Per Share (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
16. EARNINGS PER SHARE | |||||||||||||
Basic earnings per share was computed using the two-class method by dividing net income available to common stockholders, after deducting undistributed earnings allocated to participating securities, by the average number of shares of our common stock outstanding during the period. Pursuant to the two-class method, all earnings, whether distributed or undistributed, are allocated to common stock and participating securities based on their respective rights to receive dividends. Unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are considered participating securities. Our restricted stock units and restricted shares have nonforfeitable rights to dividends during the vesting period on a basis equivalent to the dividends paid to holders of the Company’s common stock, and, therefore, meet the definition of a participating security. No undistributed earnings have been allocated to the participating securities for the years ended December 31, 2013 and 2011 earnings per share calculations based on the fact the cash dividends paid during the periods exceeded our earnings. Diluted earnings per share was computed by giving effect to all potentially dilutive securities that were outstanding. The following table summarizes basic and diluted (loss) earnings per share (in millions, except per share data): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income attributable to Aleris Corporation | $ | (37.1 | ) | $ | 107.5 | $ | 161.6 | ||||||
Less: Preferred stock dividend (paid or unpaid) | (0.4 | ) | (0.4 | ) | (0.4 | ) | |||||||
Less: Undistributed earnings allocated to participating securities | — | (0.6 | ) | — | |||||||||
Less: Redemption value adjustments to redeemable noncontrolling interest | — | (4.7 | ) | — | |||||||||
Net (loss) income available to common stockholders - Basic | (37.5 | ) | 101.8 | 161.2 | |||||||||
Add: Interest on Exchangeable Notes | — | 2.8 | 1.8 | ||||||||||
Add: Preferred stock dividend (paid or unpaid) | — | 0.4 | 0.4 | ||||||||||
Add: Undistributed earnings allocated to participating securities | — | 0.6 | — | ||||||||||
Less: Undistributed earnings reallocated to participating securities | — | (0.5 | ) | — | |||||||||
Net (loss) income available to common stockholders - Diluted | $ | (37.5 | ) | $ | 105.1 | $ | 163.4 | ||||||
Average shares of common stock outstanding | 31.2 | 31.1 | 31 | ||||||||||
Dilutive effect of: | |||||||||||||
Stock options | — | 0.7 | 0.6 | ||||||||||
Restricted stock units and restricted shares | — | — | 0.1 | ||||||||||
Redeemable preferred stock | — | 0.2 | 0.1 | ||||||||||
Exchangeable Notes | — | 2.1 | 1.5 | ||||||||||
Average dilutive shares of common stock outstanding | 31.2 | 34.1 | 33.3 | ||||||||||
Basic (loss) earnings per share | $ | (1.20 | ) | $ | 3.28 | $ | 5.2 | ||||||
Diluted (loss) earnings per share | $ | (1.20 | ) | $ | 3.08 | $ | 4.91 | ||||||
The effect of certain stock options were excluded from the computations of the weighted average dilutive shares outstanding as inclusion would have resulted in antidilution. The exchangeable notes, redeemable preferred stock, restricted stock units and restricted shares were excluded from the computations of the weighted average dilutive shares outstanding for the year ended December 31, 2013 as inclusion would have resulted in antidilution. Additionally, restricted stock units and restricted shares were excluded from the computation of weighted average dilutive shares outstanding for the year ended December 31, 2012 as they were considered participating securities. A summary of these stock options, restricted stock units and restricted shares, exchangeable notes and redeemable preferred stock as of December 31, 2013, 2012 and 2011 is shown below (in millions, except per share data): | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Number of stock options | 3.3 | 0.2 | 0.1 | ||||||||||
Weighted average exercise price | $24.34 | $47.71 | $46.99 | ||||||||||
Restricted stock units and restricted shares | 0.2 | 0.2 | — | ||||||||||
Weighted average grant date fair value | $35.54 | $33.47 | $50.30 | ||||||||||
Effect of shares issuable upon conversion of Exchangeable Notes | 2.1 | — | — | ||||||||||
Effect of shares issuable upon conversion of redeemable preferred stock | 0.2 | — | — | ||||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Comprehensive Income [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
17. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | |||||||||||||
The following table presents the components of “Accumulated other comprehensive income (loss)” in the Consolidated Balance Sheet, which are items that change equity during the reporting period, but are not included in earnings: | |||||||||||||
Currency | Pension and other | ||||||||||||
Total | translation | postretirement | |||||||||||
Balance at January 1, 2011 | $ | 26.7 | $ | 21 | $ | 5.7 | |||||||
Current year currency translation adjustments | (18.7 | ) | (19.2 | ) | 0.5 | ||||||||
Recognition of net actuarial losses | (39.5 | ) | — | (39.5 | ) | ||||||||
Recognition of prior service cost | (0.9 | ) | — | (0.9 | ) | ||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 3.4 | — | 3.4 | ||||||||||
Balance at December 31, 2011 | (29.0 | ) | 1.8 | (30.8 | ) | ||||||||
Current year currency translation adjustments | 9.7 | 10.8 | (1.1 | ) | |||||||||
Recognition of net actuarial losses | (55.7 | ) | — | (55.7 | ) | ||||||||
Amortization of net actuarial losses and prior service cost | 0.7 | — | 0.7 | ||||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 11.9 | — | 11.9 | ||||||||||
Balance at December 31, 2012 | (62.4 | ) | 12.6 | (75.0 | ) | ||||||||
Current year currency translation adjustments | 31.5 | 33.2 | (1.7 | ) | |||||||||
Recognition of net actuarial gains | 41.9 | — | 41.9 | ||||||||||
Amortization of net actuarial losses and prior service cost, including recognition of settlement loss | 4 | — | 4 | ||||||||||
Deferred tax expense on pension and other postretirement liability adjustments | (1.2 | ) | — | (1.2 | ) | ||||||||
Balance at December 31, 2013 | $ | 13.8 | $ | 45.8 | $ | (32.0 | ) | ||||||
A summary of reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2013 is provided below: | |||||||||||||
Description of reclassifications out of accumulated other comprehensive income (loss) | Amount reclassified | ||||||||||||
Amortization of defined benefit pension and other postretirement benefit items: | |||||||||||||
Amortization of net actuarial losses and prior service cost, including recognition of settlement loss, before tax | $ | (4.0 | ) | (a) | |||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 1.2 | ||||||||||||
Losses reclassified into earnings, net of tax | $ | (2.8 | ) | ||||||||||
(a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic benefit expense and net postretirement benefit expense (see Note 10, “Employee Benefit Plans,” for additional detail). |
Supplemental_Information_Notes
Supplemental Information (Notes) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Information [Abstract] | ' | ||||||||||||
Supplemental Information | ' | ||||||||||||
18. SUPPLEMENTAL INFORMATION | |||||||||||||
Supplemental cash flow information is as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash payments for: | |||||||||||||
Interest | $ | 99.5 | $ | 51.2 | $ | 28.3 | |||||||
Income taxes | 37.2 | 8.6 | 14.9 | ||||||||||
Non-cash financing activity associated with lease contracts | 6.6 | 2 | 3.3 | ||||||||||
Stockholders_Equity_and_Redeem
Stockholder's Equity and Redeemable Preferred Stock (Notes) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Stockholders' Equity Note [Abstract] | ' | |||
Stockholders' Equity and Redeemable Preferred Stock | ' | |||
19. STOCKHOLDERS’ EQUITY AND REDEEMABLE PREFERRED STOCK | ||||
The following table shows changes in the number of our outstanding common shares: | ||||
Outstanding common shares | ||||
Balance at January 1, 2011 | 30,969,440 | |||
Issuance of common stock to employees for services | 3,842 | |||
Issuance associated with vested restricted stock units | 58,589 | |||
Balance at December 31, 2011 | 31,031,871 | |||
Issuance associated with options exercised | 8,843 | |||
Issuance associated with vested restricted stock units | 56,558 | |||
Balance at December 31, 2012 | 31,097,272 | |||
Issuance associated with options exercised | 69,794 | |||
Issuance associated with vested restricted stock units | 51,698 | |||
Issuance upon conversion of Exchangeable Notes | 10,300 | |||
Balance at December 31, 2013 | 31,229,064 | |||
Our capital structure includes 5,000 shares of Aleris International Series A exchangeable preferred stock (the “Redeemable Preferred Stock”) with a liquidation preference of one thousand dollars per share and a par value of $0.01 per share. The Redeemable Preferred Stock accrues dividends at 8.0% per annum (payable semi-annually on January 15 and July 15 if and when declared by Aleris International’s Board). All shares of Redeemable Preferred Stock were issued on June 1, 2010 to Oaktree Capital Management, L.P., on behalf of the Oaktree Funds, certain investment funds managed by affiliates of Apollo Management Holdings, L.P., and Sankaty Advisors, LLC, on behalf of the investment funds advised by it, in exchange for $5.0. The Redeemable Preferred Stock is subject to mandatory redemption on June 1, 2015, and is currently exchangeable, at the holder’s option, prior to redemption, into our common stock on a per share dollar exchange ratio of $18.45 at December 31, 2013, subject to adjustment. The Redeemable Preferred Stock is classified as temporary equity because its terms include a mandatory redemption feature on a fixed date for a fixed price. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements (Notes) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Condensed Consolidating Financial Statements | ' | ||||||||||||||||||||||||
20. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS | |||||||||||||||||||||||||
On February 9, 2011 and October 23, 2012, Aleris International issued the 7 5/8% Senior Notes and the 7 7/8% Senior Notes, respectively. Aleris Corporation, the direct parent of Aleris International, and certain of its subsidiaries (the “Guarantor Subsidiaries”) are guarantors of the indebtedness under the Senior Notes. Aleris Corporation and each of the Guarantor Subsidiaries have fully and unconditionally guaranteed (subject, in the case of the Guarantor Subsidiaries, to customary release provisions as described below), on a joint and several basis, to pay principal and interest related to the Senior Notes and Aleris International and each of the Guarantor Subsidiaries are directly or indirectly 100% owned subsidiaries of Aleris Corporation. For purposes of complying with the reporting requirements of Aleris International and the Guarantor Subsidiaries, presented below are condensed consolidating financial statements of Aleris Corporation, Aleris International, the Guarantor Subsidiaries, and those other subsidiaries of Aleris Corporation that are not guaranteeing the indebtedness under the Senior Notes (the “Non-Guarantor Subsidiaries”). The condensed consolidating balance sheets are presented as of December 31, 2013 and 2012. The condensed consolidating statements of comprehensive income and cash flows are presented for the years ended December 31, 2013, 2012 and 2011. | |||||||||||||||||||||||||
The guarantee of a Guarantor Subsidiary will be automatically and unconditionally released and discharged in the event of: | |||||||||||||||||||||||||
▪ | any sale of the Guarantor Subsidiary or of all or substantially all of its assets; | ||||||||||||||||||||||||
▪ | a Guarantor Subsidiary being designated as an “unrestricted subsidiary” in accordance with the indentures governing the Senior Notes; | ||||||||||||||||||||||||
▪ | the release or discharge of a Guarantor Subsidiary from its guarantee under the ABL Facility or other indebtedness that resulted in the obligation of the Guarantor Subsidiary under the indentures governing the Senior Notes; and | ||||||||||||||||||||||||
▪ | the requirements for legal defeasance or covenant defeasance or discharge of the indentures governing the Senior Notes having been satisfied. | ||||||||||||||||||||||||
The condensed consolidating balance sheet at December 31, 2012 and the condensed consolidating statements of cash flows for the years ended December 31, 2012 and 2011 have been restated to revise the presentation of intercompany balances and cash flows related to intercompany loans, equity contributions and dividends. The revisions to the condensed consolidating balance sheet at December 31, 2012, significantly increased Aleris International, Inc.’s and the Guarantor Subsidiaries’ intercompany receivables and payables, current and total assets and current and total liabilities; however, the revisions did not significantly change the previously-reported equity balances. The revisions to the condensed consolidating statements of cash flows for the years ended December 31, 2012 and 2011 significantly changed the classification of certain intercompany cash flows as operating, investing and financing activities; however, there was no change in the total net cash flows of Aleris Corporation, Aleris International, Inc. or the Guarantor Subsidiaries. There was no impact to the condensed consolidating statements of comprehensive income or to the consolidated financial statements for any period presented as a result of these presentation changes. | |||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 3.7 | $ | — | $ | 58.9 | $ | (2.5 | ) | $ | 60.1 | ||||||||||||
Accounts receivable, net | — | — | 125.7 | 251.2 | — | 376.9 | |||||||||||||||||||
Inventories | — | — | 245.1 | 438.3 | — | 683.4 | |||||||||||||||||||
Deferred income taxes | — | — | 0.2 | 6.9 | — | 7.1 | |||||||||||||||||||
Prepaid expenses and other current assets | — | 0.5 | 16.1 | 14.9 | — | 31.5 | |||||||||||||||||||
Intercompany receivables | — | 362.4 | 378.3 | 192.4 | (933.1 | ) | — | ||||||||||||||||||
Total Current Assets | — | 366.6 | 765.4 | 962.6 | (935.6 | ) | 1,159.00 | ||||||||||||||||||
Property, plant and equipment, net | — | — | 377.8 | 779.9 | — | 1,157.70 | |||||||||||||||||||
Intangible assets, net | — | — | 27.6 | 15.9 | — | 43.5 | |||||||||||||||||||
Deferred income taxes | — | — | — | 45.2 | — | 45.2 | |||||||||||||||||||
Other long-term assets | — | 12.3 | 3.3 | 51.9 | — | 67.5 | |||||||||||||||||||
Intercompany receivables | — | 3.4 | — | — | (3.4 | ) | — | ||||||||||||||||||
Investments in subsidiaries | 371.8 | 1,510.60 | 117.7 | — | (2,000.1 | ) | — | ||||||||||||||||||
Total Assets | $ | 371.8 | $ | 1,892.90 | $ | 1,291.80 | $ | 1,855.50 | $ | (2,939.1 | ) | $ | 2,472.90 | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current Liabilities | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 0.4 | $ | 117.1 | $ | 188.2 | $ | (2.5 | ) | $ | 303.2 | ||||||||||||
Accrued liabilities | — | 21.7 | 67 | 112.2 | — | 200.9 | |||||||||||||||||||
Deferred income taxes | — | — | — | 3.9 | — | 3.9 | |||||||||||||||||||
Current portion of long-term debt | — | — | 0.5 | 7.8 | — | 8.3 | |||||||||||||||||||
Intercompany payables | — | 462.4 | 371.7 | 99 | (933.1 | ) | — | ||||||||||||||||||
Total Current Liabilities | — | 484.5 | 556.3 | 411.1 | (935.6 | ) | 516.3 | ||||||||||||||||||
Long-term debt | — | 1,030.90 | 0.8 | 197.4 | — | 1,229.10 | |||||||||||||||||||
Deferred income taxes | — | — | 0.2 | 4.2 | — | 4.4 | |||||||||||||||||||
Accrued pension benefits | — | — | 33.8 | 194.7 | — | 228.5 | |||||||||||||||||||
Accrued postretirement benefits | — | — | 40.9 | — | — | 40.9 | |||||||||||||||||||
Other long-term liabilities | — | — | 32.7 | 46.6 | — | 79.3 | |||||||||||||||||||
Intercompany payables | 3.4 | — | — | — | (3.4 | ) | — | ||||||||||||||||||
Total Long-Term Liabilities | 3.4 | 1,030.90 | 108.4 | 442.9 | (3.4 | ) | 1,582.20 | ||||||||||||||||||
Redeemable noncontrolling interest | — | 5.7 | — | — | — | 5.7 | |||||||||||||||||||
Total Aleris Corporation Equity | 368.4 | 371.8 | 627.1 | 1,001.20 | (2,000.1 | ) | 368.4 | ||||||||||||||||||
Noncontrolling interest | — | — | — | 0.3 | — | 0.3 | |||||||||||||||||||
Total Liabilities and Equity | $ | 371.8 | $ | 1,892.90 | $ | 1,291.80 | $ | 1,855.50 | $ | (2,939.1 | ) | $ | 2,472.90 | ||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 472.4 | $ | — | $ | 121.6 | $ | (1.1 | ) | $ | 592.9 | ||||||||||||
Accounts receivable, net | — | 1.5 | 149.3 | 233.2 | — | 384 | |||||||||||||||||||
Inventories | — | — | 259.4 | 424 | — | 683.4 | |||||||||||||||||||
Deferred income taxes | — | — | 3.9 | 9 | — | 12.9 | |||||||||||||||||||
Prepaid expenses and other current assets | — | 0.1 | 12.9 | 13.3 | — | 26.3 | |||||||||||||||||||
Intercompany receivables | — | 421.9 | 599.8 | 202.9 | (1,224.6 | ) | — | ||||||||||||||||||
Total Current Assets | — | 895.9 | 1,025.30 | 1,004.00 | (1,225.7 | ) | 1,699.50 | ||||||||||||||||||
Property, plant and equipment, net | — | — | 375.4 | 701.6 | — | 1,077.00 | |||||||||||||||||||
Intangible assets, net | — | — | 29.7 | 15.9 | — | 45.6 | |||||||||||||||||||
Deferred income taxes | — | — | — | 36.8 | — | 36.8 | |||||||||||||||||||
Other long-term assets | — | 14.3 | 2.6 | 42.4 | — | 59.3 | |||||||||||||||||||
Intercompany receivables | — | 0.6 | — | — | (0.6 | ) | — | ||||||||||||||||||
Investments in subsidiaries | 634.5 | 1,410.10 | 111 | — | (2,155.6 | ) | — | ||||||||||||||||||
Total Assets | $ | 634.5 | $ | 2,320.90 | $ | 1,544.00 | $ | 1,800.70 | $ | (3,381.9 | ) | $ | 2,918.20 | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current Liabilities | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 3.4 | $ | 122.1 | $ | 216.8 | $ | (1.1 | ) | $ | 341.2 | ||||||||||||
Accrued liabilities | — | 23.7 | 67.6 | 211.1 | — | 302.4 | |||||||||||||||||||
Deferred income taxes | — | — | — | 12 | — | 12 | |||||||||||||||||||
Current portion of long-term debt | — | — | — | 9 | — | 9 | |||||||||||||||||||
Intercompany payables | — | 625.2 | 482.3 | 117.1 | (1,224.6 | ) | — | ||||||||||||||||||
Total Current Liabilities | — | 652.3 | 672 | 566 | (1,225.7 | ) | 664.6 | ||||||||||||||||||
Long-term debt | — | 1,028.40 | — | 190.5 | — | 1,218.90 | |||||||||||||||||||
Deferred income taxes | — | — | 3.9 | 4.9 | — | 8.8 | |||||||||||||||||||
Accrued pension benefits | — | — | 71.8 | 186.4 | — | 258.2 | |||||||||||||||||||
Accrued postretirement benefits | — | — | 52 | — | — | 52 | |||||||||||||||||||
Other long-term liabilities | — | — | 31.5 | 44.4 | — | 75.9 | |||||||||||||||||||
Intercompany payables | 0.6 | — | — | — | (0.6 | ) | — | ||||||||||||||||||
Total Long-Term Liabilities | 0.6 | 1,028.40 | 159.2 | 426.2 | (0.6 | ) | 1,613.80 | ||||||||||||||||||
Redeemable noncontrolling interest | — | 5.7 | — | — | — | 5.7 | |||||||||||||||||||
Total Aleris Corporation Equity | 633.9 | 634.5 | 712.8 | 808.3 | (2,155.6 | ) | 633.9 | ||||||||||||||||||
Noncontrolling interest | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||||
Total Liabilities and Equity | $ | 634.5 | $ | 2,320.90 | $ | 1,544.00 | $ | 1,800.70 | $ | (3,381.9 | ) | $ | 2,918.20 | ||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,938.30 | $ | 2,403.70 | $ | (9.5 | ) | $ | 4,332.50 | ||||||||||||
Cost of sales | — | — | 1,839.30 | 2,212.90 | (9.5 | ) | 4,042.70 | ||||||||||||||||||
Gross profit | — | — | 99 | 190.8 | — | 289.8 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.2 | 108.7 | 129.2 | — | 238.1 | |||||||||||||||||||
Restructuring charges | — | — | 3 | 7.7 | — | 10.7 | |||||||||||||||||||
Gains on derivative financial instruments | — | — | (18.2 | ) | (8.2 | ) | — | (26.4 | ) | ||||||||||||||||
Other operating expense (income), net | — | — | 1.8 | (0.6 | ) | — | 1.2 | ||||||||||||||||||
Operating (loss) income | — | (0.2 | ) | 3.7 | 62.7 | — | 66.2 | ||||||||||||||||||
Interest expense, net | — | — | 88.9 | 9 | — | 97.9 | |||||||||||||||||||
Other (income) expense, net | — | — | (3.8 | ) | 10.8 | — | 7 | ||||||||||||||||||
Equity in net losses (earnings) of affiliates | 37.1 | 36.9 | (1.1 | ) | — | (72.9 | ) | — | |||||||||||||||||
(Loss) income before income taxes | (37.1 | ) | (37.1 | ) | (80.3 | ) | 42.9 | 72.9 | (38.7 | ) | |||||||||||||||
Benefit from income taxes | — | — | (0.3 | ) | (2.3 | ) | — | (2.6 | ) | ||||||||||||||||
Net (loss) income | (37.1 | ) | (37.1 | ) | (80.0 | ) | 45.2 | 72.9 | (36.1 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 1 | — | 1 | |||||||||||||||||||
Net (loss) income attributable to Aleris Corporation | $ | (37.1 | ) | $ | (37.1 | ) | $ | (80.0 | ) | $ | 44.2 | $ | 72.9 | $ | (37.1 | ) | |||||||||
Comprehensive income (loss) | $ | 39.1 | $ | 39.1 | $ | (41.0 | ) | $ | 80.3 | $ | (77.4 | ) | $ | 40.1 | |||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | — | 1 | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to Aleris Corporation | $ | 39.1 | $ | 39.1 | $ | (41.0 | ) | $ | 79.3 | $ | (77.4 | ) | $ | 39.1 | |||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 2,050.30 | $ | 2,371.20 | $ | (9.1 | ) | $ | 4,412.40 | ||||||||||||
Cost of sales | — | — | 1,878.10 | 2,078.20 | (9.1 | ) | 3,947.20 | ||||||||||||||||||
Gross profit | — | — | 172.2 | 293 | — | 465.2 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.4 | 121 | 147.6 | — | 269 | |||||||||||||||||||
Restructuring charges | — | — | 2.2 | 7.4 | — | 9.6 | |||||||||||||||||||
Losses (gains) on derivative financial instruments | — | — | 3.8 | (5.1 | ) | — | (1.3 | ) | |||||||||||||||||
Other operating expense (income), net | — | — | 1.3 | (0.2 | ) | — | 1.1 | ||||||||||||||||||
Operating (loss) income | — | (0.4 | ) | 43.9 | 143.3 | — | 186.8 | ||||||||||||||||||
Interest expense, net | — | — | 51.5 | 0.9 | — | 52.4 | |||||||||||||||||||
Other (income) expense, net | — | — | (5.2 | ) | 7.2 | — | 2 | ||||||||||||||||||
Equity in net earnings of affiliates | (107.5 | ) | (107.9 | ) | (2.3 | ) | — | 217.7 | — | ||||||||||||||||
Income (loss) before income taxes | 107.5 | 107.5 | (0.1 | ) | 135.2 | (217.7 | ) | 132.4 | |||||||||||||||||
(Benefit from) provision for income taxes | — | — | (2.9 | ) | 28.3 | — | 25.4 | ||||||||||||||||||
Net income | 107.5 | 107.5 | 2.8 | 106.9 | (217.7 | ) | 107 | ||||||||||||||||||
Net loss attributable to noncontrolling interest | — | — | — | (0.5 | ) | — | (0.5 | ) | |||||||||||||||||
Net income attributable to Aleris Corporation | $ | 107.5 | $ | 107.5 | $ | 2.8 | $ | 107.4 | $ | (217.7 | ) | $ | 107.5 | ||||||||||||
Comprehensive income | $ | 74.1 | $ | 74.1 | $ | (15.6 | ) | $ | 91.8 | $ | (150.8 | ) | $ | 73.6 | |||||||||||
Comprehensive loss attributable to noncontrolling interest | — | — | — | (0.5 | ) | — | (0.5 | ) | |||||||||||||||||
Comprehensive income attributable to Aleris Corporation | $ | 74.1 | $ | 74.1 | $ | (15.6 | ) | $ | 92.3 | $ | (150.8 | ) | $ | 74.1 | |||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 2,122.20 | $ | 2,714.70 | $ | (10.5 | ) | $ | 4,826.40 | ||||||||||||
Cost of sales | — | — | 1,949.30 | 2,415.50 | (10.5 | ) | 4,354.30 | ||||||||||||||||||
Gross profit | — | — | 172.9 | 299.2 | — | 472.1 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.1 | 114.4 | 159.8 | — | 274.3 | |||||||||||||||||||
Restructuring charges | — | — | 0.6 | 3.8 | — | 4.4 | |||||||||||||||||||
(Gains) losses on derivative financial instruments | — | — | (5.2 | ) | 5.2 | — | — | ||||||||||||||||||
Other operating expense (income), net | — | — | 1.9 | (4.3 | ) | — | (2.4 | ) | |||||||||||||||||
Operating (loss) income | — | (0.1 | ) | 61.2 | 134.7 | — | 195.8 | ||||||||||||||||||
Interest expense, net | — | — | 40.1 | 6.2 | — | 46.3 | |||||||||||||||||||
Other (income) expense, net | — | (0.2 | ) | (7.6 | ) | 0.3 | — | (7.5 | ) | ||||||||||||||||
Equity in net earnings of affiliates | (161.6 | ) | (161.5 | ) | (7.2 | ) | — | 330.3 | — | ||||||||||||||||
Income before income taxes | 161.6 | 161.6 | 35.9 | 128.2 | (330.3 | ) | 157 | ||||||||||||||||||
Provision for (benefit from) income taxes | — | — | 3.5 | (7.7 | ) | — | (4.2 | ) | |||||||||||||||||
Net income | $ | 161.6 | $ | 161.6 | $ | 32.4 | $ | 135.9 | $ | (330.3 | ) | $ | 161.2 | ||||||||||||
Net loss attributable to noncontrolling interest | $ | — | $ | — | $ | — | $ | (0.4 | ) | $ | — | $ | (0.4 | ) | |||||||||||
Net income attributable to Aleris Corporation | $ | 161.6 | $ | 161.6 | $ | 32.4 | $ | 136.3 | $ | (330.3 | ) | $ | 161.6 | ||||||||||||
Comprehensive income | $ | 105.9 | $ | 105.9 | $ | 2.2 | $ | 111.9 | $ | (220.2 | ) | $ | 105.7 | ||||||||||||
Comprehensive loss attributable to noncontrolling interest | $ | — | $ | — | $ | — | $ | (0.2 | ) | $ | — | $ | (0.2 | ) | |||||||||||
Comprehensive income attributable to Aleris Corporation | $ | 105.9 | $ | 105.9 | $ | 2.2 | $ | 112.1 | $ | (220.2 | ) | $ | 105.9 | ||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 132.1 | $ | 66.2 | $ | 119.6 | $ | 13.5 | $ | (299.5 | ) | $ | 31.9 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (73.3 | ) | (165.0 | ) | — | (238.3 | ) | ||||||||||||||||
Net proceeds from the disposal of property, plant and equipment | — | — | 0.9 | 2 | — | 2.9 | |||||||||||||||||||
Disbursements of intercompany loans | — | (60.0 | ) | (50.8 | ) | — | 110.8 | — | |||||||||||||||||
Repayments from intercompany loans | — | 60 | 66 | 0.9 | (126.9 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (510.7 | ) | (16.8 | ) | — | 527.5 | — | |||||||||||||||||
Return of investments in subsidiaries | 180.9 | 292.6 | — | — | (473.5 | ) | — | ||||||||||||||||||
Net cash provided (used) by investing activities | 180.9 | (218.1 | ) | (74.0 | ) | (162.1 | ) | 37.9 | (235.4 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the ABL Facility | — | 10.3 | — | 20 | — | 30.3 | |||||||||||||||||||
Payments on the ABL Facility | — | (10.3 | ) | — | (20.0 | ) | — | (30.3 | ) | ||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||||
Proceeds from Zhenjiang Revolver | — | — | — | 4.1 | — | 4.1 | |||||||||||||||||||
Payments on Zhenjiang Revolver | — | — | — | (4.1 | ) | — | (4.1 | ) | |||||||||||||||||
Net payments from other long-term debt | — | — | — | (5.2 | ) | — | (5.2 | ) | |||||||||||||||||
Redemption of noncontrolling interest | — | — | — | (8.9 | ) | — | (8.9 | ) | |||||||||||||||||
Dividends paid | (313.0 | ) | (313.0 | ) | (292.6 | ) | (166.0 | ) | 771.6 | (313.0 | ) | ||||||||||||||
Proceeds from intercompany loans | — | — | — | 110.8 | (110.8 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | (0.9 | ) | (126.0 | ) | 126.9 | — | |||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 247.9 | 279.6 | (527.5 | ) | — | ||||||||||||||||||
Other | — | (3.8 | ) | — | (0.9 | ) | — | (4.7 | ) | ||||||||||||||||
Net cash (used) provided by financing activities | (313.0 | ) | (316.8 | ) | (45.6 | ) | 83.6 | 260.2 | (331.6 | ) | |||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | 2.3 | — | 2.3 | |||||||||||||||||||
Net decrease in cash and cash equivalents | — | (468.7 | ) | — | (62.7 | ) | (1.4 | ) | (532.8 | ) | |||||||||||||||
Cash and cash equivalents at beginning of period | — | 472.4 | — | 121.6 | (1.1 | ) | 592.9 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 3.7 | $ | — | $ | 58.9 | $ | (2.5 | ) | $ | 60.1 | ||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 1.5 | $ | 32.1 | $ | 84.6 | $ | 36.1 | $ | (1.8 | ) | $ | 152.5 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (122.1 | ) | (268.1 | ) | — | (390.2 | ) | ||||||||||||||||
Purchase of a business | — | — | — | (21.5 | ) | — | (21.5 | ) | |||||||||||||||||
Net (payments on) proceeds from the disposal of property, plant and equipment | — | — | (0.3 | ) | 0.8 | — | 0.5 | ||||||||||||||||||
Disbursements of intercompany loans | — | — | (19.1 | ) | — | 19.1 | — | ||||||||||||||||||
Repayments from intercompany loans | — | — | 57.6 | 0.8 | (58.4 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (116.2 | ) | (5.9 | ) | — | 122.1 | — | |||||||||||||||||
Other | — | — | 0.1 | — | — | 0.1 | |||||||||||||||||||
Net cash used by investing activities | — | (116.2 | ) | (89.7 | ) | (288.0 | ) | 82.8 | (411.1 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the issuance of 7 7/8% Senior Notes, net of discount of $8.7 | — | 491.3 | — | — | — | 491.3 | |||||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 130.9 | — | 130.9 | |||||||||||||||||||
Net payments on other long-term debt | — | — | — | (0.2 | ) | — | (0.2 | ) | |||||||||||||||||
Debt issuance costs | — | (1.8 | ) | — | (0.5 | ) | — | (2.3 | ) | ||||||||||||||||
Proceeds from intercompany loans | — | — | — | 19.1 | (19.1 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | (0.8 | ) | (57.6 | ) | 58.4 | — | |||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 5.9 | 116.2 | (122.1 | ) | — | ||||||||||||||||||
Dividends paid | — | — | — | (2.1 | ) | 2.1 | — | ||||||||||||||||||
Other | (1.5 | ) | (0.1 | ) | — | (0.9 | ) | — | (2.5 | ) | |||||||||||||||
Net cash (used) provided by financing activities | (1.5 | ) | 489.4 | 5.1 | 204.9 | (80.7 | ) | 617.2 | |||||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | 2.9 | — | 2.9 | |||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | 405.3 | — | (44.1 | ) | 0.3 | 361.5 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 67.1 | — | 165.7 | (1.4 | ) | 231.4 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 472.4 | $ | — | $ | 121.6 | $ | (1.1 | ) | $ | 592.9 | ||||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 212.8 | $ | 102.4 | $ | 73.3 | $ | 95.4 | $ | (217.0 | ) | $ | 266.9 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (73.9 | ) | (130.7 | ) | — | (204.6 | ) | ||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | 7.7 | — | 7.7 | |||||||||||||||||||
Disbursements of intercompany loans | — | — | (4.9 | ) | — | 4.9 | — | ||||||||||||||||||
Repayments from intercompany loans | — | — | 5.5 | — | (5.5 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (61.7 | ) | (13.7 | ) | — | 75.4 | — | |||||||||||||||||
Return of investments in subsidiaries | 287.2 | — | — | — | (287.2 | ) | — | ||||||||||||||||||
Other | — | — | — | (0.4 | ) | — | (0.4 | ) | |||||||||||||||||
Net cash provided (used) by investing activities | 287.2 | (61.7 | ) | (87.0 | ) | (123.4 | ) | (212.4 | ) | (197.3 | ) | ||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the issuance of 7 5/8% Senior Notes, net of discount of $10.0 | — | 490 | — | — | — | 490 | |||||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 56.7 | — | 56.7 | |||||||||||||||||||
Net proceeds on other long-term debt | — | — | — | 1.1 | — | 1.1 | |||||||||||||||||||
Debt issuance costs | — | (2.9 | ) | — | (1.5 | ) | — | (4.4 | ) | ||||||||||||||||
Proceeds from intercompany loans | — | — | — | 4.9 | (4.9 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | — | (5.5 | ) | 5.5 | — | ||||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 13.7 | 61.7 | (75.4 | ) | — | ||||||||||||||||||
Contributions from noncontrolling interest | — | — | — | 7.6 | — | 7.6 | |||||||||||||||||||
Dividends paid | (500.0 | ) | (500.0 | ) | — | (2.8 | ) | 502.8 | (500.0 | ) | |||||||||||||||
Other | — | 1.4 | — | 1.3 | — | 2.7 | |||||||||||||||||||
Net cash (used) provided by financing activities | (500.0 | ) | (11.5 | ) | 13.7 | 123.5 | 428 | 53.7 | |||||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | (5.4 | ) | — | (5.4 | ) | |||||||||||||||||
Net increase in cash and cash equivalents | — | 29.2 | — | 90.1 | (1.4 | ) | 117.9 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 37.9 | — | 75.6 | — | 113.5 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 67.1 | $ | — | $ | 165.7 | $ | (1.4 | ) | $ | 231.4 | ||||||||||||
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Event | ' |
21. SUBSEQUENT EVENT | |
In February 2014, we signed a definitive agreement to acquire Nichols Aluminum, LLC, a wholly owned subsidiary of Quanex Building Products Corporation, and a producer of aluminum sheet for the transportation, building and construction, machinery and equipment, consumer durables and electrical industries in North America for $110.0 in an all-cash transaction. The acquisition includes two production facilities in Davenport, Iowa, a facility in Decatur, Alabama and a facility in Lincolnshire, Illinois. Closing of the transaction is subject to customary closing conditions and regulatory approvals. |
Basis_Of_Presentation_Policies
Basis Of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
Aleris Corporation is a holding company and currently conducts its business and operations through its direct wholly owned subsidiary, Aleris International, Inc. and its consolidated subsidiaries. Aleris International, Inc. is referred to herein as Aleris International. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||
Dec. 31, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Use of Accounting Estimates | ' | ||
Use of Accounting Estimates | |||
The consolidated financial statements are prepared in conformity with GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are inherent in the valuations of derivatives, property, plant and equipment, intangible assets, the assumptions used to estimate the fair value of share-based payments, pension and postretirement benefit obligations, workers’ compensation, medical and environmental liabilities, deferred tax asset valuation allowances, reserves for uncertain tax positions and allowances for uncollectible accounts receivable. | |||
Principles of Consolidation | ' | ||
Principles of Consolidation | |||
The accompanying consolidated financial statements include the accounts of the Company and our majority owned subsidiaries. All significant intercompany accounts and transactions have been eliminated upon consolidation. In 2010, we signed a joint venture agreement with Zhenjiang Dingsheng Aluminum Industries Joint-Stock Co., Ltd. (“Dingsheng”), through our wholly owned subsidiary, Aleris Aluminum Zhenjiang Co., Ltd. (“Aleris Zhenjiang”), to construct an aluminum rolling mill in Zhenjiang City, Jiangsu Province in China (the “Zhenjiang rolling mill”). | |||
Business Combinations | ' | ||
Business Combinations | |||
All business combinations are accounted for using the acquisition method as prescribed by ASC 805, “Business Combinations” (“ASC 805”). The purchase price paid is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price over the fair value of the net assets acquired is recorded as goodwill. | |||
Revenue Recognition | ' | ||
Revenue Recognition and Shipping and Handling Costs | |||
Revenues are recognized when title transfers and risk of loss passes to the customer in accordance with the provisions of the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 104, “Revenue Recognition” (codified in ASC 605). In the case of rolled aluminum product, title and risk of loss do not typically pass until the product reaches the customer, although on certain overseas shipments, title and risk of loss pass upon loading at the port of departure or unloading at the port of entry. For material that is tolled, revenue is recognized upon the performance of the tolling services for customers. For material that is consigned, revenue is not recognized until the product is used by the customer. | |||
Shipping and Handling Costs | ' | ||
Shipping and handling costs are included within “Cost of sales” in the Consolidated Statements of Operations. | |||
Cash Equivalents | ' | ||
Cash Equivalents | |||
All highly liquid investments with a maturity of three months or less when purchased are considered cash equivalents. The carrying amount of cash equivalents approximates fair value because of the short maturity of those instruments. | |||
Accounts Receivable Allowances and Credit Risk | ' | ||
Accounts Receivable Allowances and Credit Risk | |||
We extend credit to our customers based on an evaluation of their financial condition; generally, collateral is not required. Substantially all of the accounts receivable associated with our European operations and a portion of the accounts receivable associated with our China operations are insured against loss by third party credit insurers. We maintain an allowance against our accounts receivable for the estimated probable losses on uncollectible accounts and sales returns and allowances. The valuation reserve is based upon our historical loss experience, current economic conditions within the industries we serve as well as our determination of the specific risk related to certain customers. Accounts receivable are charged off against the reserve when, in management’s estimation, further collection efforts would not result in a reasonable likelihood of receipt, or, if later, as proscribed by statutory regulations. | |||
Inventories | ' | ||
Inventories | |||
Our inventories are stated at the lower of cost or net realizable value. Cost is determined primarily on the average cost or specific identification method and includes material, labor and overhead related to the manufacturing process. We recorded charges associated with lower of cost or net realizable value adjustments of $4.5, $1.2 and $2.0 within cost of sales for the years ended December 31, 2013, 2012 and 2011, respectively. The cost of inventories acquired in business combinations are recorded at fair value in accordance with ASC 805. Our consigned inventory held at third party warehouses and customer locations was approximately $23.6 and $19.5 as of December 31, 2013 and December 31, 2012, respectively, and is included in finished goods inventory. | |||
Property, Plant and Equipment | ' | ||
Property, Plant and Equipment | |||
Property, plant and equipment is stated at cost, net of asset impairments. The cost of property, plant and equipment acquired in business combinations represents the fair value of the acquired assets at the time of acquisition. | |||
The fair values of asset retirement obligations are capitalized to the related long-lived asset at the time the obligation is incurred and is depreciated over the remaining useful life of the related asset. Major renewals and improvements that extend an asset’s useful life are capitalized to property, plant and equipment. Major repair and maintenance projects are expensed over periods not exceeding 18 months while normal maintenance and repairs are expensed as incurred. Depreciation is primarily computed using the straight-line method over the estimated useful lives of the related assets, as follows: | |||
Buildings and improvements | 5 - 33 years | ||
Production equipment and machinery | 2 - 25 years | ||
Office furniture, equipment and other | 3 - 10 years | ||
The construction costs of landfills used to store by-products of the recycling process are depreciated as space in the landfills is used based on the unit of production method. Additionally, used space in the landfill is determined periodically either by aerial photography or engineering estimates. | |||
Interest is capitalized in connection with major construction projects. | |||
Intangible Assets | ' | ||
Intangible Assets | |||
Intangible assets are primarily related to trade names, technology and customer relationships. Acquired intangible assets are recorded at their estimated fair value in the allocation of the purchase price paid. Intangibles with indefinite useful lives are not amortized and intangibles with finite useful lives are amortized over their estimated useful lives, ranging from 15 to 25 years. See Note 6, “Intangible Assets,” for additional information. | |||
Impairment of Property, Plant, Equipment and Finite-Lived Intangible Assets | ' | ||
Impairment of Property, Plant, Equipment and Finite-Lived Intangible Assets | |||
We review our long-lived assets for impairment when changes in circumstances indicate that the carrying amount may not be recoverable. Once an impairment indicator has been identified, the asset impairment test is a two-step process. The first step consists of determining whether the sum of the estimated undiscounted future cash flows attributable to the specific asset group being tested is less than its carrying value. Estimated future cash flows used to test for recoverability include only the future cash flows that are directly associated with and are expected to arise as a direct result of the use and eventual disposition of the relevant asset group. If the carrying value of the asset group exceeds the future undiscounted cash flows expected from the asset group, a second step is performed to compute the extent of the impairment. Impairment charges are determined as the amount by which the carrying value of the asset group exceeds the estimated fair value of the asset group. | |||
As outlined in ASC 820, “Fair Value Measurements and Disclosures” (“ASC 820”),the fair value measurement of our long-lived assets assumes the highest and best use of the asset by market participants, considering the use of the asset that is physically possible, legally permissible, and financially feasible at the measurement date. Highest and best use is determined based on the use of the asset by market participants, even if the intended use of the asset by the Company is different. The highest and best use of an asset establishes the valuation premise. The valuation premise is used to measure the fair value of an asset. ASC 820-10-35-10 states that the valuation premise of an asset is either of the following: | |||
▪ | In-use: The highest and best use of the asset is in-use if the asset would provide maximum value to market participants principally through its use in combination with other assets as a group (as installed or otherwise configured for use). | ||
▪ | In-exchange: The highest and best use of the asset is in-exchange if the asset would provide maximum value to market participants principally on a stand-alone basis. | ||
Once a premise is selected, the approaches considered in the estimation of the fair values of the Company’s long-lived assets tested for impairment, which represent level 3 measurements within the fair value hierarchy, include the following: | |||
▪ | Income approach: The income approach measures the value of an asset by estimating the present value of its future economic benefits. These benefits include earnings, cost savings, tax deductions, and proceeds from disposition. Value indications are developed using this technique by discounting expected cash flows to their present value at a rate of return that incorporates the risk-free rate for the use of funds, the expected rate of inflation, and the risk associated with the asset. | ||
▪ | Sales comparison approach: The sales comparison approach takes into account arm’s-length exchange prices in actual transactions, through an analysis of recent sales of comparable property and of asking prices for assets currently offered for sale. This process involves comparison and correlation between the subject asset and other comparable assets. Adjustments are then made to reflect differences in location, time and terms of sale, and physical and functional characteristics between the subject asset and the comparable assets to indicate a fair value of the subject asset. | ||
▪ | Cost approach: The cost approach uses the concept of replacement cost as an indicator of value. The premise of this approach is that a prudent investor would typically pay no more for an asset than the amount for which the asset could be replaced. Adjustments are then made to reflect the losses in value resulting from physical deterioration and functional and economic obsolescence. In applying the cost approach to the valuation of tangible assets, the Company typically starts with either an estimate of the cost of reproduction new or an estimate of replacement cost new. Additional adjustments are necessary to account for other forms of depreciation resulting from physical deterioration, functional obsolescence (inefficiencies or inadequacies of the property itself when compared to a more efficient or less costly replacement properties), and economic obsolescence. Economic obsolescence is the loss in value or usefulness of a property caused by factors external to the property, such as increased costs of raw materials, labor, or utilities (without offsetting increases in product prices); reduced demand for the product; increased competition; environmental or other regulations; inflation or high interest rates or similar factors. | ||
During 2013, no indicators of impairment were identified in accordance with ASC 360, “Property, Plant, and Equipment” and ASC 350, “Intangibles—Goodwill and Other” (“ASC 350”). | |||
Indefinite-Lived Intangible Assets | ' | ||
Indefinite-Lived Intangible Assets | |||
Indefinite-lived intangible assets are tested for impairment as of October 1st of each year and may be tested more frequently if changes in circumstances or the occurrence of events indicates that a potential impairment exists. | |||
Under ASC 350, intangible assets determined to have indefinite lives are not amortized, but are tested for impairment at least annually. As part of the annual impairment test, the non-amortized intangible assets are reviewed to determine if the indefinite status remains appropriate. | |||
Deferred Financing Costs | ' | ||
Deferred Financing Costs | |||
The costs related to the issuance of debt are capitalized and amortized over the terms of the related debt agreements as interest expense using the effective interest method. | |||
Research and Development | ' | ||
Research and Development | |||
The termination of a third party research and development agreement in 2011 allowed research process and development work to be performed internally. Since that time, our Research and Development organization has grown to include three locations in Europe along with a support staff focused on new product and alloy offerings and process performance technology. | |||
Stock-Based Compensation | ' | ||
Stock-Based Compensation | |||
We recognize compensation expense for stock options, restricted stock units and restricted shares under the provisions of ASC 718, “Compensation—Stock Compensation,” using the non-substantive vesting period approach, in which the expense (net of estimated forfeitures) is recognized ratably over the requisite service period based on the grant date fair value. The fair value of each new stock option is estimated on the date of grant using a Black-Scholes model. Determining the fair value of stock options at the grant date requires judgment, including estimates for the average risk-free interest rate, dividend yield, volatility, annual forfeiture rate, and exercise behavior. The fair value of restricted stock units and restricted shares are based on the estimated fair value of our common stock on the date of grant. The fair value of our common stock is estimated based upon a present value technique using discounted cash flows, forecasted over a five-year period with residual growth rates thereafter, and a market comparable approach. From these two approaches, the discounted cash flow analysis is weighted at 50% and the comparable public company analysis is weighted at 50%. | |||
The discounted cash flow analysis is based on our projected financial information which includes a variety of estimates and assumptions. While we consider such estimates and assumptions reasonable, they are inherently subject to uncertainties and a wide variety of significant business, economic and competitive risks, many of which are beyond our control and may not materialize. Changes in these estimates and assumptions may have a significant effect on the determination of the fair value of our common stock. | |||
The discounted cash flow analysis is based on production volume projections developed by internal forecasts, as well as commercial, wage and benefit and inflation assumptions. The discounted cash flow analysis includes the sum of (i) the present value of the projected unlevered cash flows for a five-year period (the “Projection Period”); and (ii) the present value of a terminal value, which represents the estimate of value attributable to periods beyond the Projection Period. For 2013, all cash flows were discounted using weighted-average cost of capital (“WACC”) percentages ranging from 12.0% to 14.0%. To calculate the terminal value, a perpetuity growth rate approach is used. For 2013, a growth rate of three percent was used and was determined based on research of long-term aluminum demand growth rates. Other significant assumptions include future capital expenditures and changes in working capital requirements. | |||
The comparable public company analysis identifies a group of comparable companies giving consideration to, among other relevant characteristics, similar lines of business, business risks, growth prospects, business maturity, market presence, leverage, size and scale of operations. The analysis compares the public market implied fair value for each comparable public company to its historical and projected net sales, earnings before interest and taxes (“EBIT”) and earnings before interest, taxes, depreciation and amortization (“EBITDA”). The calculated range of multiples for the comparable companies is used to estimate a range of 7.5x to 18.0x, 5.0x to 9.5x and 0.43x to 0.65x, which is applied to our historical and projected EBIT, EBITDA and net sales, respectively, to determine a range of fair values. | |||
Derivatives and Hedging | ' | ||
Derivatives and Hedging | |||
We are engaged in activities that expose us to various market risks, including changes in the prices of primary aluminum, aluminum alloys, scrap aluminum, copper, zinc and natural gas, as well as changes in currency and interest rates. Certain of these financial exposures are managed as an integral part of our risk management program, which seeks to reduce the potentially adverse effects that the volatility of the markets may have on operating results. We do not hold or issue derivative financial instruments for trading purposes. We maintain a natural gas pricing strategy to minimize significant fluctuations in earnings caused by the volatility of gas prices. Our metal pricing strategy is designed to minimize significant, unanticipated fluctuations in earnings caused by the volatility of aluminum prices. | |||
Generally, we enter into master netting arrangements with our counterparties and offset net derivative positions with the same counterparties against amounts recognized for the right to reclaim cash collateral or the obligation to return cash collateral under those arrangements in our Consolidated Balance Sheet. For classification purposes, we record the net fair value of all positions expected to settle in less than one year with these counterparties as a net current asset or liability and all long-term positions as a net long-term asset or liability. At December 31, 2013 and 2012, we had posted no cash collateral. | |||
The fair values of our derivative financial instruments are recognized as assets or liabilities at the balance sheet date. Fair values for our metal and natural gas derivative instruments are determined based on the differences between contractual and forward rates of identical hedge positions as of the balance sheet date. Our currency derivative instruments are valued utilizing observable or market-corroborated inputs such as exchange rates, volatility and forward yield curves. In accordance with the requirements of ASC 820, we have included an estimate of the risk associated with non-performance by either ourselves or our counterparties in developing these fair values. See Note 12, “Derivative and Other Financial Instruments,” for additional information. | |||
The Company does not currently account for its derivative financial instruments as hedges. The changes in fair value of derivative financial instruments that are not accounted for as hedges and the associated gains and losses realized upon settlement are recorded in “Gains on derivative financial instruments” in the Consolidated Statements of Operations. All realized gains and losses are included within “Net cash provided by operating activities” in the Consolidated Statements of Cash Flows. | |||
We are exposed to losses in the event of non-performance by counterparties to derivative contracts. Counterparties are evaluated for creditworthiness and a risk assessment is completed prior to our initiating contract activities. The counterparties’ creditworthiness is then monitored on an ongoing basis, and credit levels are reviewed to ensure there is not an inappropriate concentration of credit outstanding to any particular counterparty. Although non-performance by counterparties is possible, we do not currently anticipate non-performance by any of these parties. At December 31, 2013, substantially all of our derivative financial instruments were maintained with seven counterparties. We have the right to require cash collateral from our counterparties based on the fair value of the underlying derivative financial instruments. | |||
Currency Translation | ' | ||
Currency Translation | |||
The majority of our international subsidiaries use the local currency as their functional currency. We translate substantially all of the amounts included in our Consolidated Statements of Operations from our international subsidiaries into U.S. dollars at average monthly exchange rates, which we believe are representative of the actual exchange rates on the dates of the transactions. Adjustments resulting from the translation of the assets and liabilities of our international operations into U.S. dollars at the balance sheet date exchange rates are reflected as a separate component of stockholders’ equity. Current intercompany accounts and transactional gains and losses associated with receivables, payables and debt denominated in currencies other than the functional currency are included within “Other expense (income), net” in the Consolidated Statements of Operations. Currency translation adjustments accumulate in consolidated equity until the disposition or liquidation of the international entities. | |||
Income Taxes | ' | ||
Income Taxes | |||
We account for income taxes using the asset and liability method, whereby deferred income taxes reflect the tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. In valuing deferred tax assets, we use judgment in determining if it is more likely than not that some portion or all of a deferred tax asset will not be realized and the amount of the required valuation allowance. | |||
Tax benefits from uncertain tax positions are recognized in the financial statements when it is more likely than not that the position is sustainable, based solely on its technical merits and considerations of the relevant taxing authority, widely understood practices and precedents. We recognize interest and penalties related to uncertain tax positions within “(Benefit from) provision for income taxes” in the Consolidated Statements of Operations. | |||
Environmental and Asset Retirement Obligations | ' | ||
Environmental and Asset Retirement Obligations | |||
Environmental obligations that are not legal or contractual asset retirement obligations and that relate to existing conditions caused by past operations with no benefit to future operations are expensed while expenditures that extend the life, increase the capacity or improve the safety of an asset or that mitigate or prevent future environmental contamination are capitalized in property, plant and equipment. Obligations are recorded when their occurrence is probable and the associated costs can be reasonably estimated in accordance with ASC 410-30, “Environmental Obligations.” While our accruals are based on management’s current best estimate of the future costs of remedial action, these liabilities can change substantially due to factors such as the nature and extent of contamination, changes in the required remedial actions and technological advancements. Our existing environmental liabilities are not discounted to their present values as the amount and timing of the expenditures are not fixed or reliably determinable. | |||
Asset retirement obligations represent obligations associated with the retirement of tangible long-lived assets. Our asset retirement obligations relate primarily to the requirement to cap our three landfills, as well as costs related to the future removal of asbestos and costs to remove underground storage tanks. The costs associated with such legal obligations are accounted for under the provisions of ASC 410-20, “Asset Retirement Obligations,” which requires that the fair value of a liability for an asset retirement obligation be recognized in the period in which it is incurred and capitalized as part of the carrying amount of the long-lived asset. These fair values are based upon the present value of the future cash flows expected to be incurred to satisfy the obligation. Determining the fair value of asset retirement obligations requires judgment, including estimates of the credit adjusted interest rate and estimates of future cash flows. Estimates of future cash flows are obtained primarily from engineering consulting firms. The present value of the obligations is accreted over time while the capitalized cost is depreciated over the useful life of the related asset. | |||
Retirement, Early Retirement and Postemployment Benefits | ' | ||
Retirement, Early Retirement and Postemployment Benefits | |||
Our defined benefit pension and other post-retirement benefit plans are accounted for in accordance with ASC 715, “Compensation—Retirement Benefits.” | |||
Pension and postretirement benefit obligations are actuarially calculated using management’s best estimates of assumptions which include the expected return on plan assets, the rate at which plan liabilities may be effectively settled (discount rate), health care cost trend rates and rates of compensation increases. | |||
Benefits provided to employees after employment but prior to retirement are accounted for under ASC 712, “Compensation—Nonretirement Postemployment Benefits” (“ASC 712”). Such postemployment benefits include severance and medical continuation benefits that are offered pursuant to an ongoing benefit arrangement and do not represent a one-time benefit termination arrangement. Under ASC 712, liabilities for postemployment benefits are recorded at the time the obligations are probable of being incurred and can be reasonably estimated. This is typically at the time a triggering event occurs, such as the decision by management to close a facility. Benefits related to the relocation of employees and certain other termination benefits are accounted for under ASC 420, “Exit or Disposal Cost Obligations,” and are expensed over the required service period. | |||
General Guarantees and Indemnifications | ' | ||
General Guarantees and Indemnifications | |||
It is common in long-term processing agreements for us to agree to indemnify customers for tort liabilities that arise out of, or relate to, the processing of their material. Additionally, we typically indemnify such parties for certain environmental liabilities that arise out of or relate to the processing of their material. | |||
In our equipment financing agreements, we typically indemnify the financing parties, trustees acting on their behalf and other related parties against liabilities that arise from the manufacture, design, ownership, financing, use, operation and maintenance of the equipment and for tort liability, whether or not these liabilities arise out of or relate to the negligence of these indemnified parties, except for their gross negligence or willful misconduct. | |||
We expect that we would be covered by insurance (subject to deductibles) for most tort liabilities and related indemnities described above with respect to equipment we lease and material we process. | |||
Although we cannot estimate the potential amount of future payments under the foregoing indemnities and agreements, we are not aware of any events or actions that will require payment. | |||
New Accounting Pronouncements | ' | ||
New Accounting Pronouncements | |||
In December 2011, the FASB issued ASU No. 2011-11, “Disclosures about Offsetting Assets and Liabilities” (“ASU No. 2011-11”). ASU No. 2011-11 amended ASC 210, “Balance Sheet,” to converge the presentation of offsetting assets and liabilities between GAAP and International Financial Reporting Standards (“IFRS”). ASU No. 2011-11 requires that entities disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. On January 1, 2013, we adopted ASU No. 2011-11 and reported the additional disclosures related to offsetting assets and liabilities, which did not impact the Company’s financial condition or results of operations. | |||
In February 2013, the FASB issued ASU No. 2013-02, “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive” (“ASU No. 2013-02”). This guidance is the culmination of the FASB’s deliberation on reporting reclassification adjustments from accumulated other comprehensive income (“AOCI”). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income. However, the amendments require disclosure of amounts reclassified out of AOCI in its entirety, by component, on the face of the statement of operations or in the notes thereto. Amounts that are not required to be reclassified in their entirety to net income must be cross-referenced to other disclosures that provide additional detail. On January 1, 2013, we adopted ASU 2013-02 and reported the additional disclosures, which did not impact the Company’s financial condition or results of operations. | |||
In March 2013, the FASB issued ASU No. 2013-05, “Parent’s Accounting for the Cumulative Translation Adjustment Upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU No. 2013-05”). This guidance requires a parent entity to release any related cumulative foreign currency translation adjustment from accumulated other comprehensive income into net income in the following circumstances: (i) a parent entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided; (ii) a partial sale of an equity method investment that is a foreign entity; (iii) a partial sale of an equity method investment that is not a foreign entity whereby the partial sale represents a complete or substantially complete liquidation of the foreign entity that held the equity method investment; and (iv) the sale of an investment in a foreign entity. ASU No. 2013-05 is effective for fiscal years, and interim periods within those years, beginning for the Company on January 1, 2014. Management has determined that the adoption of these changes will need to be considered in the Company’s financial condition or results of operations in the event the Company initiates any of the transactions described above. | |||
In July 2013, the FASB issued ASU No. 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU No. 2013-11”). This guidance requires an entity to present an unrecognized tax benefit as a liability in the financial statements if (i) a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position, or (ii) the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset to settle any additional income taxes that would result from the disallowance of a tax position. Otherwise, an unrecognized tax benefit is required to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. ASU No. 2013-11 is effective for fiscal years, and interim periods within those years, beginning for the Company on January 1, 2014. Management has determined that the adoption of these changes will not have a significant impact on the Company’s financial condition or results of operations. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Schedule of Accounts Receivable, Allowance for Bad Debt | ' | ||||||||||||
The movement of the accounts receivable allowances is as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 8.1 | $ | 8.7 | $ | 8.7 | |||||||
Expenses for uncollectible accounts, sales returns and allowances, net of recoveries | 42.7 | 39.9 | 57.6 | ||||||||||
Receivables written off against the valuation reserve | (43.1 | ) | (40.5 | ) | (57.6 | ) | |||||||
Balance at end of the period | $ | 7.7 | $ | 8.1 | $ | 8.7 | |||||||
Property, Plant and Equipment | ' | ||||||||||||
Depreciation is primarily computed using the straight-line method over the estimated useful lives of the related assets, as follows: | |||||||||||||
Buildings and improvements | 5 - 33 years | ||||||||||||
Production equipment and machinery | 2 - 25 years | ||||||||||||
Office furniture, equipment and other | 3 - 10 years | ||||||||||||
The components of our consolidated property, plant and equipment are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Land | $ | 162.2 | $ | 152.7 | |||||||||
Buildings and improvements | 234.6 | 120.8 | |||||||||||
Production equipment and machinery | 933.9 | 505.1 | |||||||||||
Office furniture and computer equipment | 82.3 | 57.7 | |||||||||||
Construction work-in-progress | 52 | 423.4 | |||||||||||
Property, plant and equipment | 1,465.00 | 1,259.70 | |||||||||||
Accumulated depreciation | (307.3 | ) | (182.7 | ) | |||||||||
Property, plant and equipment, net | $ | 1,157.70 | $ | 1,077.00 | |||||||||
Schedule of Capitalized Interest Costs | ' | ||||||||||||
Capitalized interest costs are as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Capitalized interest | $ | 7.7 | $ | 14.8 | $ | 2 | |||||||
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||
Schedule of Restructuring and Related Costs | ' | |||||||
The following table presents a reconciliation of the beginning and ending balances of the restructuring liabilities related to the employee severance and benefit costs for the Duffel, Belgium location of our RPEU and Extrusions segments that were initiated in periods prior to 2011: | ||||||||
RPEU | Extrusions | |||||||
Balance at January 1, 2011 | 12.9 | 3.6 | ||||||
(Reversals) charges recorded in the statement of operations | (0.2 | ) | 0.1 | |||||
Cash payments | (0.8 | ) | (0.4 | ) | ||||
Currency translation | (0.3 | ) | (0.1 | ) | ||||
Balance at December 31, 2011 | 11.6 | 3.2 | ||||||
Charges recorded in the statement of operations | 0.4 | 0.1 | ||||||
Cash payments | (2.9 | ) | (0.5 | ) | ||||
Currency translation | 0.2 | 0.1 | ||||||
Balance at December 31, 2012 | 9.3 | 2.9 | ||||||
Reversals recorded in the statement of operations | (0.8 | ) | (0.1 | ) | ||||
Cash payments | (4.9 | ) | (1.5 | ) | ||||
Currency translation and other | 0.9 | — | ||||||
Balance at December 31, 2013 | $ | 4.5 | $ | 1.3 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Schedule of Inventory, Current [Abstract] | ' | |||||||
Schedule of Inventory, Current | ' | |||||||
The components of our “Inventories” as of December 31, 2013 and 2012 are as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Finished goods | $ | 185.6 | $ | 183.8 | ||||
Raw materials | 265.9 | 279.4 | ||||||
Work in process | 203 | 196.2 | ||||||
Supplies | 28.9 | 24 | ||||||
Total | $ | 683.4 | $ | 683.4 | ||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property, Plant and Equipment | ' | |||||||||||
Depreciation is primarily computed using the straight-line method over the estimated useful lives of the related assets, as follows: | ||||||||||||
Buildings and improvements | 5 - 33 years | |||||||||||
Production equipment and machinery | 2 - 25 years | |||||||||||
Office furniture, equipment and other | 3 - 10 years | |||||||||||
The components of our consolidated property, plant and equipment are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Land | $ | 162.2 | $ | 152.7 | ||||||||
Buildings and improvements | 234.6 | 120.8 | ||||||||||
Production equipment and machinery | 933.9 | 505.1 | ||||||||||
Office furniture and computer equipment | 82.3 | 57.7 | ||||||||||
Construction work-in-progress | 52 | 423.4 | ||||||||||
Property, plant and equipment | 1,465.00 | 1,259.70 | ||||||||||
Accumulated depreciation | (307.3 | ) | (182.7 | ) | ||||||||
Property, plant and equipment, net | $ | 1,157.70 | $ | 1,077.00 | ||||||||
Schedule of Depreciation and Maintenance Expense | ' | |||||||||||
Our depreciation expense, including amortization of capital lease assets, and repair and maintenance expense, was as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Depreciation expense included in SG&A | $ | 19.1 | $ | 7.6 | $ | 4.2 | ||||||
Depreciation expense included in cost of sales | 108.3 | 75.1 | 64 | |||||||||
Repair and maintenance expense | 120 | 110.3 | 114.7 | |||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Schedule Intangible Assets | ' | ||||||||||||||||||||||||||
The following table details our intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||||
Gross | Gross | ||||||||||||||||||||||||||
carrying | Accumulated | Net | Average | carrying | Accumulated | Net | |||||||||||||||||||||
amount | amortization | amount | life | amount | amortization | amount | |||||||||||||||||||||
Trade names | $ | 16.8 | $ | — | $ | 16.8 | Indefinite | $ | 16.8 | $ | — | $ | 16.8 | ||||||||||||||
Technology | 5.9 | (0.9 | ) | 5 | 25 years | 5.9 | (0.6 | ) | 5.3 | ||||||||||||||||||
Customer relationships | 28.3 | (6.6 | ) | 21.7 | 15 years | 28.3 | (4.8 | ) | 23.5 | ||||||||||||||||||
Total | $ | 51 | $ | (7.5 | ) | $ | 43.5 | 17 years | $ | 51 | $ | (5.4 | ) | $ | 45.6 | ||||||||||||
Schedule of Amortization Expense, Intangible Assets | ' | ||||||||||||||||||||||||||
The following table presents amortization expense, which has been classified within “Selling, general and administrative expenses” in the Consolidated Statements of Operations: | |||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||
Amortization expense | $ | 2.1 | $ | 2.1 | $ | 2.1 | |||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | ' | ||||||||||||||||||||||||||
The following table presents estimated amortization expense for the next five years: | |||||||||||||||||||||||||||
2014 | $ | 2.1 | |||||||||||||||||||||||||
2015 | 2.1 | ||||||||||||||||||||||||||
2016 | 2.1 | ||||||||||||||||||||||||||
2017 | 2.1 | ||||||||||||||||||||||||||
2018 | 2.1 | ||||||||||||||||||||||||||
Total | $ | 10.5 | |||||||||||||||||||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities Disclosure [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued liabilities at December 31, 2013 and 2012 consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Employee-related costs | $ | 58 | $ | 69.5 | ||||
Accrued professional fees | 6.2 | 8.9 | ||||||
Toll liability | 34.8 | 21.7 | ||||||
Accrued taxes | 10.4 | 34.9 | ||||||
Accrued interest | 21.9 | 24 | ||||||
Accrued restructuring | 5.6 | 17.5 | ||||||
Accrued capital expenditures | 28.7 | 74.3 | ||||||
Derivative financial instruments | 1.7 | 6.4 | ||||||
Other liabilities | 33.6 | 45.2 | ||||||
$ | 200.9 | $ | 302.4 | |||||
Asset_Retirement_Obligation_Ta
Asset Retirement Obligation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Asset Retirement Obligation [Abstract] | ' | ||||||||||||
Schedule of Change in Asset Retirement Obligation | ' | ||||||||||||
The changes in the carrying amount of asset retirement obligations for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 14.6 | $ | 13.7 | $ | 12.9 | |||||||
Revisions and liabilities incurred | 0.2 | 2.1 | 1.3 | ||||||||||
Accretion expense | 0.5 | 0.5 | 0.5 | ||||||||||
Payments | (2.9 | ) | (1.7 | ) | (1.0 | ) | |||||||
Balance at the end of the period | $ | 12.4 | $ | 14.6 | $ | 13.7 | |||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Debt | ' | |||||||
Our debt is summarized as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
ABL Facility | $ | — | $ | — | ||||
7 5/8% Senior Notes due 2018, net of discount of $5.9 and $7.3 at December 31, 2013 and December 31, 2012, respectively | 494.1 | 492.7 | ||||||
7 7/8% Senior Notes due 2020, net of discount of $7.5 and $8.6 at December 31, 2013 and December 31, 2012, respectively | 492.5 | 491.4 | ||||||
Exchangeable Notes, net of discount of $0.7 and $0.8 at December 31, 2013 and December 31, 2012, respectively | 44.2 | 44.2 | ||||||
Zhenjiang Term Loans, net of discount of $1.0 and $1.3 at December 31, 2013 and December 31, 2012, respectively | 192.2 | 186.8 | ||||||
Other | 14.4 | 12.8 | ||||||
Total debt | 1,237.40 | 1,227.90 | ||||||
Less: Current portion of long-term debt | 8.3 | 9 | ||||||
Total long-term debt | $ | 1,229.10 | $ | 1,218.90 | ||||
Schedule of Maturities of Long-term Debt | ' | |||||||
Scheduled maturities of our debt and capital leases subsequent to December 31, 2013 are as follows: | ||||||||
Debt | Capital leases | |||||||
2014 | $ | 5.1 | $ | 3.2 | ||||
2015 | 0.5 | 2.8 | ||||||
2016 | 10.1 | 2 | ||||||
2017 | 19.6 | 0.5 | ||||||
2018 | 529.4 | 0.1 | ||||||
After 2018 | 679.1 | 0.1 | ||||||
Total | $ | 1,243.80 | $ | 8.7 | ||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ' | ||||||||||||||||
Company Match of Employee Contributions | ' | ||||||||||||||||
Our match of employees’ contributions under our defined contribution plans and supplemental employer contributions for the years ended December 31, 2013, 2012 and 2011 were as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Company match of employee contributions | $ | 4.3 | $ | 4.4 | $ | 3.9 | |||||||||||
Supplemental employer contributions | $ | 1.4 | $ | 1.5 | $ | 1.3 | |||||||||||
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | ' | ||||||||||||||||
A one-percentage change in assumed health care cost trend rates would have the following effects: | |||||||||||||||||
1% increase | 1% decrease | ||||||||||||||||
Effect on total service and interest components | $ | 0.1 | $ | (0.1 | ) | ||||||||||||
Effect on postretirement benefit obligations | 1.8 | (1.5 | ) | ||||||||||||||
Schedule of Allocation of Plan Assets | ' | ||||||||||||||||
The weighted average plan asset allocations at December 31, 2013 and 2012 and the target allocations are as follows: | |||||||||||||||||
Percentage of Plan Assets | |||||||||||||||||
2013 | 2012 | Target Allocation | |||||||||||||||
Cash | 1 | % | 1 | % | — | % | |||||||||||
Equity | 63 | 62 | 60 | ||||||||||||||
Fixed income | 22 | 23 | 25 | ||||||||||||||
Real estate | 10 | 10 | 12 | ||||||||||||||
Other | 4 | 4 | 3 | ||||||||||||||
Total | 100 | % | 100 | % | 100 | % | |||||||||||
Schedule of Net Benefit Costs | ' | ||||||||||||||||
The components of net postretirement benefit expense for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 0.2 | $ | 0.2 | $ | 0.2 | |||||||||||
Interest cost | 1.8 | 2.4 | 2.6 | ||||||||||||||
Amortization of net loss | 0.4 | 0.3 | — | ||||||||||||||
Net postretirement benefit expense | $ | 2.4 | $ | 2.9 | $ | 2.8 | |||||||||||
The components of the net periodic benefit expense for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 3.7 | $ | 3 | $ | 2.6 | |||||||||||
Interest cost | 6.6 | 7.2 | 7.5 | ||||||||||||||
Amortization of net loss | 1.5 | 0.3 | — | ||||||||||||||
Amortization of prior service cost | 0.1 | 0.1 | — | ||||||||||||||
Expected return on plan assets | (9.5 | ) | (8.4 | ) | (8.0 | ) | |||||||||||
Settlement loss | 0.2 | — | — | ||||||||||||||
Net periodic benefit cost | $ | 2.6 | $ | 2.2 | $ | 2.1 | |||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Service cost | $ | 5 | $ | 2.7 | $ | 2.5 | |||||||||||
Interest cost | 7.3 | 7.1 | 7.7 | ||||||||||||||
Amortization of net loss | 1.7 | — | — | ||||||||||||||
Expected return on plan assets | (0.2 | ) | (0.1 | ) | (0.1 | ) | |||||||||||
Net periodic benefit cost | $ | 13.8 | $ | 9.7 | $ | 10.1 | |||||||||||
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan | ' | ||||||||||||||||
The financial status of the plans at December 31, 2013 and 2012, using a period-end measurement date, is as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Change in benefit obligations | |||||||||||||||||
Benefit obligation at beginning of period | $ | 56.4 | $ | 57.5 | |||||||||||||
Service cost | 0.2 | 0.2 | |||||||||||||||
Interest cost | 1.8 | 2.4 | |||||||||||||||
Benefits paid | (5.3 | ) | (4.9 | ) | |||||||||||||
Employee contributions | 0.7 | 0.8 | |||||||||||||||
Medicare subsidies received | 0.2 | 0.5 | |||||||||||||||
Actuarial gain | (9.0 | ) | (0.1 | ) | |||||||||||||
Benefit obligation at end of period | $ | 45 | $ | 56.4 | |||||||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at beginning of period | $ | — | $ | — | |||||||||||||
Employer contributions | 4.4 | 3.6 | |||||||||||||||
Employee contributions | 0.7 | 0.8 | |||||||||||||||
Medicare subsidies | 0.2 | 0.5 | |||||||||||||||
Benefits paid | (5.3 | ) | (4.9 | ) | |||||||||||||
Fair value of plan assets at end of period | $ | — | $ | — | |||||||||||||
Net amount recognized | $ | (45.0 | ) | $ | (56.4 | ) | |||||||||||
The changes in projected benefit obligations and plan assets during the years ended December 31, 2013 and 2012, using a period-end measurement date, are as follows: | |||||||||||||||||
U.S. Pension Benefits | Non-U.S. Pension Benefits | ||||||||||||||||
For the years ended December 31, | For the years ended December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Change in projected benefit obligations | |||||||||||||||||
Projected benefit obligation at beginning of period | $ | 185.3 | $ | 165 | $ | 195.5 | $ | 149.2 | |||||||||
Service cost | 3.7 | 3 | 5 | 2.7 | |||||||||||||
Interest cost | 6.6 | 7.2 | 7.3 | 7.1 | |||||||||||||
Actuarial (gain) loss | (19.7 | ) | 20.5 | (4.6 | ) | 38.4 | |||||||||||
Expenses paid | (1.1 | ) | (1.3 | ) | — | — | |||||||||||
Benefits paid | (8.3 | ) | (9.1 | ) | (6.7 | ) | (6.3 | ) | |||||||||
Plan settlements | (2.8 | ) | — | — | — | ||||||||||||
Translation and other | — | — | 9.3 | 4.4 | |||||||||||||
Projected benefit obligation at end of period | $ | 163.7 | $ | 185.3 | $ | 205.8 | $ | 195.5 | |||||||||
Change in plan assets | |||||||||||||||||
Fair value of plan assets at beginning of period | $ | 113.5 | $ | 99.6 | $ | 3.8 | $ | 2.9 | |||||||||
Employer contributions | 10.3 | 12.8 | 7.5 | 7 | |||||||||||||
Actual return on plan assets | 18.4 | 11.5 | — | 0.1 | |||||||||||||
Expenses paid | (1.1 | ) | (1.3 | ) | — | — | |||||||||||
Benefits paid | (8.3 | ) | (9.1 | ) | (6.7 | ) | (6.3 | ) | |||||||||
Plan settlements | (2.8 | ) | — | — | — | ||||||||||||
Translation and other | — | — | 0.6 | 0.1 | |||||||||||||
Fair value of plan assets at end of period | $ | 130 | $ | 113.5 | $ | 5.2 | $ | 3.8 | |||||||||
Net amount recognized | $ | (33.7 | ) | $ | (71.8 | ) | $ | (200.6 | ) | $ | (191.7 | ) | |||||
Schedule of Amounts Recognized in Balance Sheet | ' | ||||||||||||||||
The following table provides the amounts recognized in the Consolidated Balance Sheet as of December 31, 2013 and 2012: | |||||||||||||||||
U.S. Pension Benefits | Non-U.S. Pension Benefits | ||||||||||||||||
December 31, | December 31, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Noncurrent assets | $ | — | $ | — | $ | 0.2 | $ | — | |||||||||
Accrued liabilities | — | — | (6.0 | ) | (5.3 | ) | |||||||||||
Accrued pension benefits | (33.7 | ) | (71.8 | ) | (194.8 | ) | (186.4 | ) | |||||||||
Net amount recognized | $ | (33.7 | ) | $ | (71.8 | ) | $ | (200.6 | ) | $ | (191.7 | ) | |||||
Amounts recognized in accumulated other comprehensive income (loss) (before tax) consist of: | |||||||||||||||||
Net actuarial loss | $ | 6.4 | $ | 36.6 | $ | 38 | $ | 42.2 | |||||||||
Net prior service cost | 0.8 | 0.8 | — | — | |||||||||||||
$ | 7.2 | $ | 37.4 | $ | 38 | $ | 42.2 | ||||||||||
Amortization expected to be recognized during next fiscal year (before tax): | |||||||||||||||||
Amortization of net actuarial loss | $ | — | $ | (1.3 | ) | ||||||||||||
Amortization of net prior service cost | (0.1 | ) | — | ||||||||||||||
$ | (0.1 | ) | $ | (1.3 | ) | ||||||||||||
Additional Information | |||||||||||||||||
Accumulated benefit obligation for all defined benefit pension plans | $ | 163.7 | $ | 185.3 | $ | 197.9 | $ | 187.2 | |||||||||
For defined benefit pension plans with projected benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate projected benefit obligation | 163.7 | 185.3 | 205.6 | 195.5 | |||||||||||||
Aggregate fair value of plan assets | 130 | 113.5 | 4.7 | 3.8 | |||||||||||||
For defined benefit pension plans with accumulated benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate accumulated benefit obligation | 163.7 | 185.3 | 197.7 | 187.2 | |||||||||||||
Aggregate fair value of plan assets | 130 | 113.5 | 4.7 | 3.8 | |||||||||||||
Projected employer contributions for 2014 | 11.3 | 7.9 | |||||||||||||||
The following table provides the amounts recognized in the Consolidated Balance Sheet as of December 31, 2013 and 2012: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Accrued liabilities | $ | (4.1 | ) | $ | (4.4 | ) | |||||||||||
Accrued postretirement benefits | (40.9 | ) | (52.0 | ) | |||||||||||||
Net amount recognized | $ | (45.0 | ) | $ | (56.4 | ) | |||||||||||
Amounts recognized in accumulated other comprehensive income (loss) (before tax) consist of: | |||||||||||||||||
Net actuarial (gain) loss | $ | (1.4 | ) | $ | 8.1 | ||||||||||||
$ | (1.4 | ) | $ | 8.1 | |||||||||||||
Amortization expected to be recognized during next fiscal year (before tax): | |||||||||||||||||
Amortization of net actuarial gain | $ | 0.4 | |||||||||||||||
$ | 0.4 | ||||||||||||||||
Additional information: | |||||||||||||||||
For plans with benefit obligations in excess of plan assets: | |||||||||||||||||
Aggregate benefit obligation | $ | 45 | $ | 56.4 | |||||||||||||
Aggregate fair value of plan assets | — | — | |||||||||||||||
Schedule of Assumptions Used | ' | ||||||||||||||||
The weighted average assumptions used to determine benefit obligations are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 4.6 | % | 3.6 | % | 4.5 | % | |||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
As of December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.9 | % | 3.7 | % | 4.9 | % | |||||||||||
Rate of compensation increases, if applicable | 3 | 3 | 3 | ||||||||||||||
The weighted average assumptions used to determine the net periodic benefit cost for the years ended December 31, 2013, 2012 and 2011 are as follows: | |||||||||||||||||
U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.6 | % | 4.5 | % | 5.2 | % | |||||||||||
Expected return on plan assets | 8.3 | 8.3 | 8.3 | ||||||||||||||
Non-U.S. Pension Benefits | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate | 3.7 | % | 4.9 | % | 5.4 | % | |||||||||||
Expected return on plan assets | 3.5 | 4.1 | 4.2 | ||||||||||||||
Rate of compensation increase | 3 | 3 | 3 | ||||||||||||||
The weighted average assumptions used to determine net postretirement benefit expense and benefit obligations are as follows: | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Discount rate used to determine expense | 3.2 | % | 4.3 | % | 5.2 | % | |||||||||||
Discount rate used to determine end of period benefit obligations | 4.2 | % | 3.2 | % | 4.3 | % | |||||||||||
Health care cost trend rate assumed for next year | 7.2 | % | 7.4 | % | 7.7 | % | |||||||||||
Ultimate trend rate | 4.5 | % | 4.5 | % | 4.5 | % | |||||||||||
Year rate reaches ultimate trend rate | 2027 | 2027 | 2027 | ||||||||||||||
Schedule of Defined Benefit Plans Disclosures | ' | ||||||||||||||||
The fair values of the Company’s pension plan assets at December 31, 2013 by asset class are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Asset Class: | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Cash | $ | 1.3 | $ | 1.3 | $ | — | $ | — | |||||||||
Registered Investment Companies: | |||||||||||||||||
Large U.S. Equity | 16.9 | 16.9 | — | — | |||||||||||||
Small / Mid U.S. Equity | 13.2 | 13.2 | — | — | |||||||||||||
International Equity | 13.8 | 13.8 | — | — | |||||||||||||
Fixed Income | 14.6 | 14.6 | — | — | |||||||||||||
Commingled and Limited Partnership Funds: | |||||||||||||||||
Hedged Equity | 18.9 | — | 18.9 | — | |||||||||||||
Core Real Estate | 13.9 | — | 13.9 | — | |||||||||||||
International Large Cap Equity | 14.8 | — | 14.8 | — | |||||||||||||
Core Fixed Income | 14.5 | — | 14.5 | — | |||||||||||||
Small Cap Value Equity | 7.4 | — | 7.4 | — | |||||||||||||
Other | 5.9 | — | 5.2 | 0.7 | |||||||||||||
Total | $ | 135.2 | $ | 59.8 | $ | 74.7 | $ | 0.7 | |||||||||
The fair values of the Company’s pension plan assets at December 31, 2012 by asset class are as follows: | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
Asset Class: | Fair Value | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Cash | $ | 1.6 | $ | 1.6 | $ | — | $ | — | |||||||||
Registered Investment Companies: | |||||||||||||||||
Large U.S. Equity | 15.7 | 15.7 | — | — | |||||||||||||
Small / Mid U.S. Equity | 11.1 | 11.1 | — | — | |||||||||||||
International Equity | 13 | 13 | — | — | |||||||||||||
Fixed Income | 14.2 | 14.2 | — | — | |||||||||||||
Commingled and Limited Partnership Funds: | |||||||||||||||||
Hedged Equity | 14.8 | — | 14.8 | — | |||||||||||||
Core Real Estate | 12.1 | — | 12.1 | — | |||||||||||||
International Large Cap Equity | 11.6 | — | 11.6 | — | |||||||||||||
Core Fixed Income | 13.2 | — | 13.2 | — | |||||||||||||
Small Cap Value Equity | 5.5 | — | 5.5 | — | |||||||||||||
Other | 4.5 | — | 4.5 | — | |||||||||||||
Total | $ | 117.3 | $ | 55.6 | $ | 61.7 | $ | — | |||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | ' | ||||||||||||||||
The table below sets forth a summary of changes in the fair value of Level 3 assets for the year ended December 31, 2013: | |||||||||||||||||
For the year ended | |||||||||||||||||
31-Dec-13 | |||||||||||||||||
Balance, beginning of year | $ | — | |||||||||||||||
Transfers from Level 2 categorization | 0.7 | ||||||||||||||||
Balance, end of year | $ | 0.7 | |||||||||||||||
Schedule of Expected Benefit Payments | ' | ||||||||||||||||
The following benefit payments are expected to be paid for the periods indicated: | |||||||||||||||||
Gross Benefit Payment | Net of Medicare Part D Subsidy | ||||||||||||||||
2014 | $ | 4.3 | $ | 4.1 | |||||||||||||
2015 | 4.3 | 4.1 | |||||||||||||||
2016 | 4.2 | 4 | |||||||||||||||
2017 | 4.2 | 3.9 | |||||||||||||||
2018 | 4 | 3.8 | |||||||||||||||
2019 - 2023 | 16.5 | 16.2 | |||||||||||||||
The following benefit payments for our pension plans, which reflect expected future service, as appropriate, are expected to be paid for the periods indicated: | |||||||||||||||||
U.S. | Non-U.S. | ||||||||||||||||
Pension Benefits | Pension Benefits | ||||||||||||||||
2014 | $ | 9.8 | $ | 7.1 | |||||||||||||
2015 | 10.4 | 7.3 | |||||||||||||||
2016 | 10.4 | 7.6 | |||||||||||||||
2017 | 10.9 | 7.9 | |||||||||||||||
2018 | 10.9 | 9.2 | |||||||||||||||
2019 - 2023 | 55.9 | 47.1 | |||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity | ' | |||||||||||||
A summary of stock option activity (after adjustment for the April 2013 dividend) for the year ended December 31, 2013 is as follows: | ||||||||||||||
Weighted | Weighted average | Weighted | ||||||||||||
average | remaining | average | ||||||||||||
exercise price | contractual | grant date | ||||||||||||
Service-based options | Options | per option | term in years | fair value | ||||||||||
Outstanding at January 1, 2013 | 3,712,271 | $ | 23.24 | $ | 9.26 | |||||||||
Granted | 311,604 | 33.6 | 10.68 | |||||||||||
Exercised | (258,196 | ) | 26.1 | 10.09 | ||||||||||
Canceled | (293,257 | ) | 18.45 | 8.32 | ||||||||||
Forfeited | (164,136 | ) | 24.81 | 9.3 | ||||||||||
Outstanding at December 31, 2013 | 3,308,286 | $ | 24.34 | 6.6 | $ | 9.41 | ||||||||
Options vested and expected to vest at December 31, 2013 | 3,279,526 | $ | 24.26 | 6.6 | $ | 9.35 | ||||||||
Options exercisable at December 31, 2013 | 2,734,277 | $ | 23.83 | 6.5 | $ | 8.93 | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ' | |||||||||||||
The following table summarizes the significant assumptions used to determine the fair value of the stock options granted during the years ended December 31, 2013, 2012 and 2011: | ||||||||||||||
For the years ended December 31, | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Weighted average expected option life in years | 3.6 | 6 | 6 | |||||||||||
Weighted average grant date fair value | $10.68 | $24.47 | $18.90 | |||||||||||
Risk-free interest rate | 1.1% - 1.6% | 0.8% - 1.0% | 1.2% - 1.7% | |||||||||||
Equity volatility factor | 41 | % | 55 | % | 50.0% - 58.0% | |||||||||
Dividend yield | — | % | — | % | — | % | ||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | ' | |||||||||||||
A summary of restricted stock units and restricted shares activity for the year ended December 31, 2013 is as follows: | ||||||||||||||
Weighted | ||||||||||||||
average | ||||||||||||||
grant date | ||||||||||||||
Restricted Stock Units and Restricted Shares | Shares | fair value | ||||||||||||
Outstanding at January 1, 2013 | 155,709 | $ | 33.47 | |||||||||||
Granted | 131,368 | 34.65 | ||||||||||||
Vested | (86,931 | ) | 32.11 | |||||||||||
Forfeited | (11,137 | ) | 30.31 | |||||||||||
Outstanding at December 31, 2013 | 189,009 | $ | 35.54 | |||||||||||
Derivative_And_Other_Financial1
Derivative And Other Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Derivative Instruments | ' | ||||||||||||||||
Fair Value of Derivatives as of December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Derivatives by Type | Asset | Liability | Asset | Liability | |||||||||||||
Metal | $ | 13.3 | $ | (17.0 | ) | $ | 15.7 | $ | (18.8 | ) | |||||||
Natural gas | 0.4 | — | — | (0.6 | ) | ||||||||||||
Total | 13.7 | (17.0 | ) | 15.7 | (19.4 | ) | |||||||||||
Effect of counterparty netting | (12.3 | ) | 12.3 | (12.5 | ) | 12.5 | |||||||||||
Net derivatives as classified in the balance sheet | $ | 1.4 | $ | (4.7 | ) | $ | 3.2 | $ | (6.9 | ) | |||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | ' | ||||||||||||||||
The fair value of our derivative financial instruments at December 31, 2013 and 2012 are recorded on the Consolidated Balance Sheet as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
Asset Derivatives | Balance Sheet Location | 2013 | 2012 | ||||||||||||||
Metal | Prepaid expenses and other current assets | $ | 1 | $ | 2.8 | ||||||||||||
Other long-term assets | — | 0.4 | |||||||||||||||
Natural gas | Prepaid expenses and other current assets | 0.4 | — | ||||||||||||||
Total | $ | 1.4 | $ | 3.2 | |||||||||||||
December 31, | |||||||||||||||||
Liability Derivatives | Balance Sheet Location | 2013 | 2012 | ||||||||||||||
Metal | Accrued liabilities | $ | 1.7 | $ | 5.8 | ||||||||||||
Other long-term liabilities | 3 | 0.5 | |||||||||||||||
Natural gas | Accrued liabilities | — | 0.6 | ||||||||||||||
Total | $ | 4.7 | $ | 6.9 | |||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||||||
The following tables set forth our other financial instruments for which fair value is disclosed and the level in the fair value hierarchy within which the fair value measurements are categorized as of December 31, 2013 and 2012: | |||||||||||||||||
Fair value measurements at December 31, 2013 using: | |||||||||||||||||
Description | Total estimated fair value | Quoted prices in | Significant | Significant | |||||||||||||
active markets for | other observable | unobservable | |||||||||||||||
identical assets | inputs | inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Cash and cash equivalents | $ | 60.1 | $ | 60.1 | $ | — | $ | — | |||||||||
Exchangeable Notes | 72.7 | — | — | 72.7 | |||||||||||||
7 5/8% Senior Notes | 530 | 530 | — | — | |||||||||||||
7 7/8% Senior Notes | 531.3 | 531.3 | — | — | |||||||||||||
Zhenjiang Term Loans | 193.2 | — | — | 193.2 | |||||||||||||
Fair value measurements at December 31, 2012 using: | |||||||||||||||||
Description | Total estimated fair value | Quoted prices in | Significant | Significant | |||||||||||||
active markets for | other observable | unobservable | |||||||||||||||
identical assets | inputs | inputs | |||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||
Cash and cash equivalents | $ | 592.9 | $ | 592.9 | $ | — | $ | — | |||||||||
Exchangeable Notes | 103.4 | — | — | 103.4 | |||||||||||||
7 5/8% Senior Notes | 507.5 | 507.5 | — | — | |||||||||||||
7 7/8% Senior Notes | 502.5 | 502.5 | — | — | |||||||||||||
Zhenjiang Term Loans | 188.1 | — | — | 188.1 | |||||||||||||
The following tables set forth our financial assets and liabilities that are accounted for at fair value on a recurring basis as of December 31, 2013 and 2012 and the level in the fair value hierarchy: | |||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | |||||||||||||||||
Total Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||
Value in the | Active Markets for | Other Observable | Unobservable | ||||||||||||||
Consolidated | Identical Assets | Inputs | Inputs | ||||||||||||||
Description | Balance Sheet | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Derivative assets | $ | 13.7 | $ | — | $ | 13.7 | $ | — | |||||||||
Derivative liabilities | (17.0 | ) | — | (17.0 | ) | — | |||||||||||
Net derivative liabilities | $ | (3.3 | ) | $ | — | $ | (3.3 | ) | $ | — | |||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||
Total Carrying | Quoted Prices in | Significant | Significant | ||||||||||||||
Value in the | Active Markets for | Other Observable | Unobservable | ||||||||||||||
Consolidated | Identical Assets | Inputs | Inputs | ||||||||||||||
Description | Balance Sheet | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Derivative assets | $ | 15.7 | $ | — | $ | 15.7 | $ | — | |||||||||
Derivative liabilities | (19.4 | ) | — | (19.4 | ) | — | |||||||||||
Net derivative liabilities | $ | (3.7 | ) | $ | — | $ | (3.7 | ) | $ | — | |||||||
The carrying amount and fair values of our other financial instruments at December 31, 2013 and 2012 are as follows: | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Carrying | ||||||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||||||
Cash and cash equivalents | $ | 60.1 | $ | 60.1 | $ | 592.9 | $ | 592.9 | |||||||||
ABL Facility | — | — | — | — | |||||||||||||
Exchangeable Notes | 44.2 | 72.7 | 44.2 | 103.4 | |||||||||||||
7 5/8% Senior Notes | 494.1 | 530 | 492.7 | 507.5 | |||||||||||||
7 7/8% Senior Notes | 492.5 | 531.3 | 491.4 | 502.5 | |||||||||||||
Zhenjiang Term Loans | 192.2 | 193.2 | 186.8 | 188.1 | |||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | ' | ||||||||||||||||
Realized (gains) losses on derivative financial instruments totaled the following during the years ended December 31, 2013, 2012 and 2011: | |||||||||||||||||
Realized (Gains) Losses on Derivative Financial Instruments | |||||||||||||||||
For the years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Metal | $ | (26.3 | ) | $ | 5 | $ | (41.9 | ) | |||||||||
Natural gas | 0.6 | 6.4 | 3.8 | ||||||||||||||
Currency | — | 1.6 | 0.3 | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign | ' | ||||||||||||
The (loss) income before income taxes was as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | (77.3 | ) | $ | 2.4 | $ | 3.4 | ||||||
International | 38.6 | 130 | 153.6 | ||||||||||
Total | $ | (38.7 | ) | $ | 132.4 | $ | 157 | ||||||
Schedule of Provision for Income Taxes | ' | ||||||||||||
The (benefit from) provision for income taxes was as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current: | |||||||||||||
Federal | $ | (0.1 | ) | $ | (1.3 | ) | $ | 2.5 | |||||
State | (0.2 | ) | 0.3 | 1.2 | |||||||||
International | 11.4 | 16 | 25.7 | ||||||||||
$ | 11.1 | $ | 15 | $ | 29.4 | ||||||||
Deferred: | |||||||||||||
Federal | $ | 0.4 | $ | (1.1 | ) | $ | 0.4 | ||||||
State | — | — | (0.2 | ) | |||||||||
International | (14.1 | ) | 11.5 | (33.8 | ) | ||||||||
$ | (13.7 | ) | $ | 10.4 | $ | (33.6 | ) | ||||||
(Benefit from) provision for income taxes | $ | (2.6 | ) | $ | 25.4 | $ | (4.2 | ) | |||||
Schedule of Income Tax Reconciliation | ' | ||||||||||||
The income tax (benefit) expense, computed by applying the federal statutory tax rate to the (loss) income before income taxes, differed from the (benefit from) provision for income taxes as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax (benefit) expense at the federal statutory rate | $ | (13.5 | ) | $ | 46.4 | $ | 55 | ||||||
Foreign income tax rate differential and permanent differences, net | (18.2 | ) | (19.1 | ) | (53.4 | ) | |||||||
State income taxes, net | (4.4 | ) | (1.3 | ) | 0.9 | ||||||||
Permanent differences, net | 2.3 | (0.6 | ) | 0.6 | |||||||||
Tax on deemed dividend of foreign earnings, net of foreign tax credit | (3.8 | ) | 7.1 | 19 | |||||||||
Foreign intercompany debt revaluation | — | — | 6.1 | ||||||||||
Change in uncertain tax position | 1.6 | 0.4 | 6.3 | ||||||||||
Change in valuation allowance | 33 | (8.0 | ) | (37.8 | ) | ||||||||
Other, net | 0.4 | 0.5 | (0.9 | ) | |||||||||
(Benefit from) provision for income taxes | $ | (2.6 | ) | $ | 25.4 | $ | (4.2 | ) | |||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Significant components of our deferred tax liabilities and assets are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred Tax Liabilities | |||||||||||||
Property, plant and equipment and intangible assets | $ | 45.8 | $ | 37.2 | |||||||||
Other | 11.9 | 11.6 | |||||||||||
Total deferred tax liabilities | $ | 57.7 | $ | 48.8 | |||||||||
Deferred Tax Assets | |||||||||||||
Net operating loss carryforwards | $ | 437.9 | $ | 356.2 | |||||||||
Property, plant and equipment and intangible assets | 81.1 | 95.5 | |||||||||||
Accrued pension benefits | 38.2 | 51.5 | |||||||||||
Other | 78.4 | 77.3 | |||||||||||
$ | 635.6 | $ | 580.5 | ||||||||||
Valuation allowance | (533.9 | ) | (502.8 | ) | |||||||||
Total deferred tax assets | $ | 101.7 | $ | 77.7 | |||||||||
Net deferred tax assets | $ | 44 | $ | 28.9 | |||||||||
Summary of Valuation Allowance | ' | ||||||||||||
The following table summarizes the change in the valuation allowances: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 502.8 | $ | 364.6 | $ | 399.4 | |||||||
Additions (reversals) recorded in the (benefit from) provision for income taxes | 33 | 126.4 | (37.8 | ) | |||||||||
Accumulated other comprehensive (loss) income | (15.3 | ) | 6.6 | 11 | |||||||||
Currency translation | 13.4 | 5.2 | (8.0 | ) | |||||||||
Balance at end of the period | $ | 533.9 | $ | 502.8 | $ | 364.6 | |||||||
Schedule of Unrecognized Tax Benefits Roll Forward | ' | ||||||||||||
The following table summarizes the change in uncertain tax positions: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at beginning of the period | $ | 18.5 | $ | 17.6 | $ | 12.5 | |||||||
Additions based on tax positions related to current year | — | 2.1 | — | ||||||||||
Additions for tax positions of prior years | 2.2 | 0.4 | 8.9 | ||||||||||
Reductions for tax positions of prior years | (0.2 | ) | (0.5 | ) | (2.7 | ) | |||||||
Settlements | (17.7 | ) | (1.1 | ) | (1.1 | ) | |||||||
Balance at end of period | $ | 2.8 | $ | 18.5 | $ | 17.6 | |||||||
Commitments_And_Contingencies_1
Commitments And Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||||||||||||||||||||||
The future minimum lease payments required under operating leases that have initial or remaining non-cancellable lease terms in excess of one year as of December 31, 2013, are as follows: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||
Operating leases | $ | 5.8 | $ | 5.5 | $ | 3.7 | $ | 1.7 | $ | 0.9 | $ | — | |||||||||||||
Long-term Purchase Commitment | ' | ||||||||||||||||||||||||
As of December 31, 2013, amounts due under long-term non-cancellable purchase obligations are as follows: | |||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||||||||
Purchase obligations | $ | 147.3 | $ | 72.2 | $ | 38.6 | $ | 8.1 | $ | 0.2 | $ | — | |||||||||||||
Schedule of Environmental Loss Contingencies | ' | ||||||||||||||||||||||||
The changes in our accruals for environmental liabilities are as follows: | |||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Balance at the beginning of the period | $ | 34.2 | $ | 36.5 | $ | 36.2 | |||||||||||||||||||
Revisions and liabilities incurred | 1.1 | (1.8 | ) | 0.7 | |||||||||||||||||||||
Payments | (1.7 | ) | (0.6 | ) | (0.2 | ) | |||||||||||||||||||
Translation and other charges | 1.7 | 0.1 | (0.2 | ) | |||||||||||||||||||||
Balance at the end of the period | $ | 35.3 | $ | 34.2 | $ | 36.5 | |||||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | ' | ||||||||||||||||||||||||||||||||
The following table shows our revenues, segment income (loss) and other financial information for each of our reportable segments: | |||||||||||||||||||||||||||||||||
Intersegment | |||||||||||||||||||||||||||||||||
RPNA | RPEU | RPAP | Extrusions | RSAA | RSEU | Revenues | Total | ||||||||||||||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,192.60 | $ | 1,317.70 | $ | 10.5 | $ | 347 | $ | 932.1 | $ | 532.6 | $ | 4,332.50 | |||||||||||||||||||
Inter-segment revenues | 2.2 | 125.5 | 10.2 | 8.2 | 6.3 | 28.5 | $ | (180.9 | ) | — | |||||||||||||||||||||||
Total revenues | 1,194.80 | 1,443.20 | 20.7 | 355.2 | 938.4 | 561.1 | (180.9 | ) | 4,332.50 | ||||||||||||||||||||||||
Segment income (loss) | 81.8 | 132.1 | (0.2 | ) | 11.7 | 54 | 14.3 | 293.7 | |||||||||||||||||||||||||
Segment assets | 524.7 | 699.2 | 439.4 | 141.8 | 294.5 | 183.7 | 2,283.30 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 44.1 | 41 | 92.5 | 12.6 | 23.4 | 14 | 227.6 | ||||||||||||||||||||||||||
Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,297.60 | $ | 1,254.60 | $ | — | $ | 349.1 | $ | 940.3 | $ | 570.8 | $ | 4,412.40 | |||||||||||||||||||
Inter-segment revenues | 2.1 | 70.3 | — | 8.3 | 7.3 | 31.1 | $ | (119.1 | ) | — | |||||||||||||||||||||||
Total revenues | 1,299.70 | 1,324.90 | — | 357.4 | 947.6 | 601.9 | (119.1 | ) | 4,412.40 | ||||||||||||||||||||||||
Segment income | 117.6 | 144.6 | — | 16.4 | 53.6 | 19.4 | 351.6 | ||||||||||||||||||||||||||
Segment assets | 566 | 681.3 | 351.4 | 133.1 | 287.6 | 175.3 | 2,194.70 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 54 | 62.8 | 173.8 | 17 | 46.4 | 11.4 | 365.4 | ||||||||||||||||||||||||||
Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||
Revenues to external customers | $ | 1,344.60 | $ | 1,460.10 | $ | — | $ | 398.7 | $ | 978.6 | $ | 644.4 | $ | 4,826.40 | |||||||||||||||||||
Inter-segment revenues | 1.8 | 81.5 | — | 11.6 | 5.2 | 40.7 | $ | (140.8 | ) | — | |||||||||||||||||||||||
Total revenues | 1,346.40 | 1,541.60 | — | 410.3 | 983.8 | 685.1 | (140.8 | ) | 4,826.40 | ||||||||||||||||||||||||
Segment income | 111.1 | 157.6 | — | 10.9 | 80.9 | 35.3 | 395.8 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | 35.1 | 19.3 | 79.7 | 12.7 | 34.1 | 15.8 | 196.7 | ||||||||||||||||||||||||||
Reconciliation of reportable segment disclosures | ' | ||||||||||||||||||||||||||||||||
Reconciliations of total reportable segment disclosures to our consolidated financial statements are as follows: | |||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Profits | |||||||||||||||||||||||||||||||||
Total segment income | $ | 293.7 | $ | 351.6 | $ | 395.8 | |||||||||||||||||||||||||||
Unallocated amounts: | |||||||||||||||||||||||||||||||||
Depreciation and amortization | (129.5 | ) | (84.8 | ) | (70.3 | ) | |||||||||||||||||||||||||||
Corporate general and administrative expenses, excluding depreciation, amortization and start-up expenses | (50.8 | ) | (56.3 | ) | (60.8 | ) | |||||||||||||||||||||||||||
Restructuring charges | (10.7 | ) | (9.6 | ) | (4.4 | ) | |||||||||||||||||||||||||||
Interest expense, net | (97.9 | ) | (52.4 | ) | (46.3 | ) | |||||||||||||||||||||||||||
Unallocated gains (losses) on derivative financial instruments | 0.6 | 13.9 | (37.9 | ) | |||||||||||||||||||||||||||||
Unallocated currency exchange (losses) gains | (4.6 | ) | 0.2 | (1.2 | ) | ||||||||||||||||||||||||||||
Start-up expenses | (35.8 | ) | (28.1 | ) | (10.2 | ) | |||||||||||||||||||||||||||
Other expense, net | (3.7 | ) | (2.1 | ) | (7.7 | ) | |||||||||||||||||||||||||||
(Loss) income before income taxes | $ | (38.7 | ) | $ | 132.4 | $ | 157 | ||||||||||||||||||||||||||
Payments for property, plant and equipment | |||||||||||||||||||||||||||||||||
Total payments for property, plant and equipment for reportable segments | $ | 227.6 | $ | 365.4 | $ | 196.7 | |||||||||||||||||||||||||||
Other payments for property, plant and equipment | 10.7 | 24.8 | 7.9 | ||||||||||||||||||||||||||||||
Total consolidated payments for property, plant and equipment | $ | 238.3 | $ | 390.2 | $ | 204.6 | |||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||
Total assets for reportable segments | $ | 2,283.30 | $ | 2,194.70 | |||||||||||||||||||||||||||||
Unallocated assets | 189.6 | 723.5 | |||||||||||||||||||||||||||||||
Total consolidated assets | $ | 2,472.90 | $ | 2,918.20 | |||||||||||||||||||||||||||||
Revenue By Geography | ' | ||||||||||||||||||||||||||||||||
The following table sets forth the geographic breakout of our revenues (based on customer location) and long-lived tangible assets (net of accumulated depreciation and amortization): | |||||||||||||||||||||||||||||||||
For the years ended December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||||
Revenues | |||||||||||||||||||||||||||||||||
United States | $ | 1,970.10 | $ | 2,077.30 | $ | 2,154.20 | |||||||||||||||||||||||||||
International: | |||||||||||||||||||||||||||||||||
Asia | 162.9 | 185.1 | 181.4 | ||||||||||||||||||||||||||||||
Europe | 1,864.60 | 1,822.60 | 2,160.10 | ||||||||||||||||||||||||||||||
Mexico, Canada and South America | 329.3 | 320.7 | 291.9 | ||||||||||||||||||||||||||||||
Other | 5.6 | 6.7 | 38.8 | ||||||||||||||||||||||||||||||
Total international revenues | 2,362.40 | 2,335.10 | 2,672.20 | ||||||||||||||||||||||||||||||
Consolidated revenues | $ | 4,332.50 | $ | 4,412.40 | $ | 4,826.40 | |||||||||||||||||||||||||||
Property Plant, and Equipment by Geography | ' | ||||||||||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||||||||
Long-lived tangible assets | |||||||||||||||||||||||||||||||||
United States | $ | 380.2 | $ | 377 | |||||||||||||||||||||||||||||
International: | |||||||||||||||||||||||||||||||||
Asia | 372.9 | 329.7 | |||||||||||||||||||||||||||||||
Europe | 384.4 | 350.5 | |||||||||||||||||||||||||||||||
Mexico and Canada | 20.2 | 19.8 | |||||||||||||||||||||||||||||||
Total international | 777.5 | 700 | |||||||||||||||||||||||||||||||
Consolidated total | $ | 1,157.70 | $ | 1,077.00 | |||||||||||||||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Schedule of Earnings Per Share Reconciliation | ' | ||||||||||||
The following table summarizes basic and diluted (loss) earnings per share (in millions, except per share data): | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net (loss) income attributable to Aleris Corporation | $ | (37.1 | ) | $ | 107.5 | $ | 161.6 | ||||||
Less: Preferred stock dividend (paid or unpaid) | (0.4 | ) | (0.4 | ) | (0.4 | ) | |||||||
Less: Undistributed earnings allocated to participating securities | — | (0.6 | ) | — | |||||||||
Less: Redemption value adjustments to redeemable noncontrolling interest | — | (4.7 | ) | — | |||||||||
Net (loss) income available to common stockholders - Basic | (37.5 | ) | 101.8 | 161.2 | |||||||||
Add: Interest on Exchangeable Notes | — | 2.8 | 1.8 | ||||||||||
Add: Preferred stock dividend (paid or unpaid) | — | 0.4 | 0.4 | ||||||||||
Add: Undistributed earnings allocated to participating securities | — | 0.6 | — | ||||||||||
Less: Undistributed earnings reallocated to participating securities | — | (0.5 | ) | — | |||||||||
Net (loss) income available to common stockholders - Diluted | $ | (37.5 | ) | $ | 105.1 | $ | 163.4 | ||||||
Average shares of common stock outstanding | 31.2 | 31.1 | 31 | ||||||||||
Dilutive effect of: | |||||||||||||
Stock options | — | 0.7 | 0.6 | ||||||||||
Restricted stock units and restricted shares | — | — | 0.1 | ||||||||||
Redeemable preferred stock | — | 0.2 | 0.1 | ||||||||||
Exchangeable Notes | — | 2.1 | 1.5 | ||||||||||
Average dilutive shares of common stock outstanding | 31.2 | 34.1 | 33.3 | ||||||||||
Basic (loss) earnings per share | $ | (1.20 | ) | $ | 3.28 | $ | 5.2 | ||||||
Diluted (loss) earnings per share | $ | (1.20 | ) | $ | 3.08 | $ | 4.91 | ||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | ' | ||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Number of stock options | 3.3 | 0.2 | 0.1 | ||||||||||
Weighted average exercise price | $24.34 | $47.71 | $46.99 | ||||||||||
Restricted stock units and restricted shares | 0.2 | 0.2 | — | ||||||||||
Weighted average grant date fair value | $35.54 | $33.47 | $50.30 | ||||||||||
Effect of shares issuable upon conversion of Exchangeable Notes | 2.1 | — | — | ||||||||||
Effect of shares issuable upon conversion of redeemable preferred stock | 0.2 | — | — | ||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Comprehensive Income [Abstract] | ' | ||||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
The following table presents the components of “Accumulated other comprehensive income (loss)” in the Consolidated Balance Sheet, which are items that change equity during the reporting period, but are not included in earnings: | |||||||||||||
Currency | Pension and other | ||||||||||||
Total | translation | postretirement | |||||||||||
Balance at January 1, 2011 | $ | 26.7 | $ | 21 | $ | 5.7 | |||||||
Current year currency translation adjustments | (18.7 | ) | (19.2 | ) | 0.5 | ||||||||
Recognition of net actuarial losses | (39.5 | ) | — | (39.5 | ) | ||||||||
Recognition of prior service cost | (0.9 | ) | — | (0.9 | ) | ||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 3.4 | — | 3.4 | ||||||||||
Balance at December 31, 2011 | (29.0 | ) | 1.8 | (30.8 | ) | ||||||||
Current year currency translation adjustments | 9.7 | 10.8 | (1.1 | ) | |||||||||
Recognition of net actuarial losses | (55.7 | ) | — | (55.7 | ) | ||||||||
Amortization of net actuarial losses and prior service cost | 0.7 | — | 0.7 | ||||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 11.9 | — | 11.9 | ||||||||||
Balance at December 31, 2012 | (62.4 | ) | 12.6 | (75.0 | ) | ||||||||
Current year currency translation adjustments | 31.5 | 33.2 | (1.7 | ) | |||||||||
Recognition of net actuarial gains | 41.9 | — | 41.9 | ||||||||||
Amortization of net actuarial losses and prior service cost, including recognition of settlement loss | 4 | — | 4 | ||||||||||
Deferred tax expense on pension and other postretirement liability adjustments | (1.2 | ) | — | (1.2 | ) | ||||||||
Balance at December 31, 2013 | $ | 13.8 | $ | 45.8 | $ | (32.0 | ) | ||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) | ' | ||||||||||||
A summary of reclassifications out of accumulated other comprehensive income (loss) for the year ended December 31, 2013 is provided below: | |||||||||||||
Description of reclassifications out of accumulated other comprehensive income (loss) | Amount reclassified | ||||||||||||
Amortization of defined benefit pension and other postretirement benefit items: | |||||||||||||
Amortization of net actuarial losses and prior service cost, including recognition of settlement loss, before tax | $ | (4.0 | ) | (a) | |||||||||
Deferred tax benefit on pension and other postretirement liability adjustments | 1.2 | ||||||||||||
Losses reclassified into earnings, net of tax | $ | (2.8 | ) | ||||||||||
(a) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic benefit expense and net postretirement benefit expense (see Note 10, “Employee Benefit Plans,” for additional detail). |
Supplemental_Information_Table
Supplemental Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Supplemental Information [Abstract] | ' | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures | ' | ||||||||||||
Supplemental cash flow information is as follows: | |||||||||||||
For the years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cash payments for: | |||||||||||||
Interest | $ | 99.5 | $ | 51.2 | $ | 28.3 | |||||||
Income taxes | 37.2 | 8.6 | 14.9 | ||||||||||
Non-cash financing activity associated with lease contracts | 6.6 | 2 | 3.3 | ||||||||||
Stockholders_Equity_and_Redeem1
Stockholder's Equity and Redeemable Preferred Stock (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Stockholders' Equity Note [Abstract] | ' | |||
Changes in the Number of Outstanding Common Shares | ' | |||
The following table shows changes in the number of our outstanding common shares: | ||||
Outstanding common shares | ||||
Balance at January 1, 2011 | 30,969,440 | |||
Issuance of common stock to employees for services | 3,842 | |||
Issuance associated with vested restricted stock units | 58,589 | |||
Balance at December 31, 2011 | 31,031,871 | |||
Issuance associated with options exercised | 8,843 | |||
Issuance associated with vested restricted stock units | 56,558 | |||
Balance at December 31, 2012 | 31,097,272 | |||
Issuance associated with options exercised | 69,794 | |||
Issuance associated with vested restricted stock units | 51,698 | |||
Issuance upon conversion of Exchangeable Notes | 10,300 | |||
Balance at December 31, 2013 | 31,229,064 | |||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Condensed Balance Sheet | ' | ||||||||||||||||||||||||
As of December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 3.7 | $ | — | $ | 58.9 | $ | (2.5 | ) | $ | 60.1 | ||||||||||||
Accounts receivable, net | — | — | 125.7 | 251.2 | — | 376.9 | |||||||||||||||||||
Inventories | — | — | 245.1 | 438.3 | — | 683.4 | |||||||||||||||||||
Deferred income taxes | — | — | 0.2 | 6.9 | — | 7.1 | |||||||||||||||||||
Prepaid expenses and other current assets | — | 0.5 | 16.1 | 14.9 | — | 31.5 | |||||||||||||||||||
Intercompany receivables | — | 362.4 | 378.3 | 192.4 | (933.1 | ) | — | ||||||||||||||||||
Total Current Assets | — | 366.6 | 765.4 | 962.6 | (935.6 | ) | 1,159.00 | ||||||||||||||||||
Property, plant and equipment, net | — | — | 377.8 | 779.9 | — | 1,157.70 | |||||||||||||||||||
Intangible assets, net | — | — | 27.6 | 15.9 | — | 43.5 | |||||||||||||||||||
Deferred income taxes | — | — | — | 45.2 | — | 45.2 | |||||||||||||||||||
Other long-term assets | — | 12.3 | 3.3 | 51.9 | — | 67.5 | |||||||||||||||||||
Intercompany receivables | — | 3.4 | — | — | (3.4 | ) | — | ||||||||||||||||||
Investments in subsidiaries | 371.8 | 1,510.60 | 117.7 | — | (2,000.1 | ) | — | ||||||||||||||||||
Total Assets | $ | 371.8 | $ | 1,892.90 | $ | 1,291.80 | $ | 1,855.50 | $ | (2,939.1 | ) | $ | 2,472.90 | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current Liabilities | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 0.4 | $ | 117.1 | $ | 188.2 | $ | (2.5 | ) | $ | 303.2 | ||||||||||||
Accrued liabilities | — | 21.7 | 67 | 112.2 | — | 200.9 | |||||||||||||||||||
Deferred income taxes | — | — | — | 3.9 | — | 3.9 | |||||||||||||||||||
Current portion of long-term debt | — | — | 0.5 | 7.8 | — | 8.3 | |||||||||||||||||||
Intercompany payables | — | 462.4 | 371.7 | 99 | (933.1 | ) | — | ||||||||||||||||||
Total Current Liabilities | — | 484.5 | 556.3 | 411.1 | (935.6 | ) | 516.3 | ||||||||||||||||||
Long-term debt | — | 1,030.90 | 0.8 | 197.4 | — | 1,229.10 | |||||||||||||||||||
Deferred income taxes | — | — | 0.2 | 4.2 | — | 4.4 | |||||||||||||||||||
Accrued pension benefits | — | — | 33.8 | 194.7 | — | 228.5 | |||||||||||||||||||
Accrued postretirement benefits | — | — | 40.9 | — | — | 40.9 | |||||||||||||||||||
Other long-term liabilities | — | — | 32.7 | 46.6 | — | 79.3 | |||||||||||||||||||
Intercompany payables | 3.4 | — | — | — | (3.4 | ) | — | ||||||||||||||||||
Total Long-Term Liabilities | 3.4 | 1,030.90 | 108.4 | 442.9 | (3.4 | ) | 1,582.20 | ||||||||||||||||||
Redeemable noncontrolling interest | — | 5.7 | — | — | — | 5.7 | |||||||||||||||||||
Total Aleris Corporation Equity | 368.4 | 371.8 | 627.1 | 1,001.20 | (2,000.1 | ) | 368.4 | ||||||||||||||||||
Noncontrolling interest | — | — | — | 0.3 | — | 0.3 | |||||||||||||||||||
Total Liabilities and Equity | $ | 371.8 | $ | 1,892.90 | $ | 1,291.80 | $ | 1,855.50 | $ | (2,939.1 | ) | $ | 2,472.90 | ||||||||||||
As of December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||
Current Assets | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 472.4 | $ | — | $ | 121.6 | $ | (1.1 | ) | $ | 592.9 | ||||||||||||
Accounts receivable, net | — | 1.5 | 149.3 | 233.2 | — | 384 | |||||||||||||||||||
Inventories | — | — | 259.4 | 424 | — | 683.4 | |||||||||||||||||||
Deferred income taxes | — | — | 3.9 | 9 | — | 12.9 | |||||||||||||||||||
Prepaid expenses and other current assets | — | 0.1 | 12.9 | 13.3 | — | 26.3 | |||||||||||||||||||
Intercompany receivables | — | 421.9 | 599.8 | 202.9 | (1,224.6 | ) | — | ||||||||||||||||||
Total Current Assets | — | 895.9 | 1,025.30 | 1,004.00 | (1,225.7 | ) | 1,699.50 | ||||||||||||||||||
Property, plant and equipment, net | — | — | 375.4 | 701.6 | — | 1,077.00 | |||||||||||||||||||
Intangible assets, net | — | — | 29.7 | 15.9 | — | 45.6 | |||||||||||||||||||
Deferred income taxes | — | — | — | 36.8 | — | 36.8 | |||||||||||||||||||
Other long-term assets | — | 14.3 | 2.6 | 42.4 | — | 59.3 | |||||||||||||||||||
Intercompany receivables | — | 0.6 | — | — | (0.6 | ) | — | ||||||||||||||||||
Investments in subsidiaries | 634.5 | 1,410.10 | 111 | — | (2,155.6 | ) | — | ||||||||||||||||||
Total Assets | $ | 634.5 | $ | 2,320.90 | $ | 1,544.00 | $ | 1,800.70 | $ | (3,381.9 | ) | $ | 2,918.20 | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||||||||||||||||
Current Liabilities | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 3.4 | $ | 122.1 | $ | 216.8 | $ | (1.1 | ) | $ | 341.2 | ||||||||||||
Accrued liabilities | — | 23.7 | 67.6 | 211.1 | — | 302.4 | |||||||||||||||||||
Deferred income taxes | — | — | — | 12 | — | 12 | |||||||||||||||||||
Current portion of long-term debt | — | — | — | 9 | — | 9 | |||||||||||||||||||
Intercompany payables | — | 625.2 | 482.3 | 117.1 | (1,224.6 | ) | — | ||||||||||||||||||
Total Current Liabilities | — | 652.3 | 672 | 566 | (1,225.7 | ) | 664.6 | ||||||||||||||||||
Long-term debt | — | 1,028.40 | — | 190.5 | — | 1,218.90 | |||||||||||||||||||
Deferred income taxes | — | — | 3.9 | 4.9 | — | 8.8 | |||||||||||||||||||
Accrued pension benefits | — | — | 71.8 | 186.4 | — | 258.2 | |||||||||||||||||||
Accrued postretirement benefits | — | — | 52 | — | — | 52 | |||||||||||||||||||
Other long-term liabilities | — | — | 31.5 | 44.4 | — | 75.9 | |||||||||||||||||||
Intercompany payables | 0.6 | — | — | — | (0.6 | ) | — | ||||||||||||||||||
Total Long-Term Liabilities | 0.6 | 1,028.40 | 159.2 | 426.2 | (0.6 | ) | 1,613.80 | ||||||||||||||||||
Redeemable noncontrolling interest | — | 5.7 | — | — | — | 5.7 | |||||||||||||||||||
Total Aleris Corporation Equity | 633.9 | 634.5 | 712.8 | 808.3 | (2,155.6 | ) | 633.9 | ||||||||||||||||||
Noncontrolling interest | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||||
Total Liabilities and Equity | $ | 634.5 | $ | 2,320.90 | $ | 1,544.00 | $ | 1,800.70 | $ | (3,381.9 | ) | $ | 2,918.20 | ||||||||||||
Schedule of Condensed Income Statement | ' | ||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,938.30 | $ | 2,403.70 | $ | (9.5 | ) | $ | 4,332.50 | ||||||||||||
Cost of sales | — | — | 1,839.30 | 2,212.90 | (9.5 | ) | 4,042.70 | ||||||||||||||||||
Gross profit | — | — | 99 | 190.8 | — | 289.8 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.2 | 108.7 | 129.2 | — | 238.1 | |||||||||||||||||||
Restructuring charges | — | — | 3 | 7.7 | — | 10.7 | |||||||||||||||||||
Gains on derivative financial instruments | — | — | (18.2 | ) | (8.2 | ) | — | (26.4 | ) | ||||||||||||||||
Other operating expense (income), net | — | — | 1.8 | (0.6 | ) | — | 1.2 | ||||||||||||||||||
Operating (loss) income | — | (0.2 | ) | 3.7 | 62.7 | — | 66.2 | ||||||||||||||||||
Interest expense, net | — | — | 88.9 | 9 | — | 97.9 | |||||||||||||||||||
Other (income) expense, net | — | — | (3.8 | ) | 10.8 | — | 7 | ||||||||||||||||||
Equity in net losses (earnings) of affiliates | 37.1 | 36.9 | (1.1 | ) | — | (72.9 | ) | — | |||||||||||||||||
(Loss) income before income taxes | (37.1 | ) | (37.1 | ) | (80.3 | ) | 42.9 | 72.9 | (38.7 | ) | |||||||||||||||
Benefit from income taxes | — | — | (0.3 | ) | (2.3 | ) | — | (2.6 | ) | ||||||||||||||||
Net (loss) income | (37.1 | ) | (37.1 | ) | (80.0 | ) | 45.2 | 72.9 | (36.1 | ) | |||||||||||||||
Net income attributable to noncontrolling interest | — | — | — | 1 | — | 1 | |||||||||||||||||||
Net (loss) income attributable to Aleris Corporation | $ | (37.1 | ) | $ | (37.1 | ) | $ | (80.0 | ) | $ | 44.2 | $ | 72.9 | $ | (37.1 | ) | |||||||||
Comprehensive income (loss) | $ | 39.1 | $ | 39.1 | $ | (41.0 | ) | $ | 80.3 | $ | (77.4 | ) | $ | 40.1 | |||||||||||
Comprehensive income attributable to noncontrolling interest | — | — | — | 1 | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to Aleris Corporation | $ | 39.1 | $ | 39.1 | $ | (41.0 | ) | $ | 79.3 | $ | (77.4 | ) | $ | 39.1 | |||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 2,050.30 | $ | 2,371.20 | $ | (9.1 | ) | $ | 4,412.40 | ||||||||||||
Cost of sales | — | — | 1,878.10 | 2,078.20 | (9.1 | ) | 3,947.20 | ||||||||||||||||||
Gross profit | — | — | 172.2 | 293 | — | 465.2 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.4 | 121 | 147.6 | — | 269 | |||||||||||||||||||
Restructuring charges | — | — | 2.2 | 7.4 | — | 9.6 | |||||||||||||||||||
Losses (gains) on derivative financial instruments | — | — | 3.8 | (5.1 | ) | — | (1.3 | ) | |||||||||||||||||
Other operating expense (income), net | — | — | 1.3 | (0.2 | ) | — | 1.1 | ||||||||||||||||||
Operating (loss) income | — | (0.4 | ) | 43.9 | 143.3 | — | 186.8 | ||||||||||||||||||
Interest expense, net | — | — | 51.5 | 0.9 | — | 52.4 | |||||||||||||||||||
Other (income) expense, net | — | — | (5.2 | ) | 7.2 | — | 2 | ||||||||||||||||||
Equity in net earnings of affiliates | (107.5 | ) | (107.9 | ) | (2.3 | ) | — | 217.7 | — | ||||||||||||||||
Income (loss) before income taxes | 107.5 | 107.5 | (0.1 | ) | 135.2 | (217.7 | ) | 132.4 | |||||||||||||||||
(Benefit from) provision for income taxes | — | — | (2.9 | ) | 28.3 | — | 25.4 | ||||||||||||||||||
Net income | 107.5 | 107.5 | 2.8 | 106.9 | (217.7 | ) | 107 | ||||||||||||||||||
Net loss attributable to noncontrolling interest | — | — | — | (0.5 | ) | — | (0.5 | ) | |||||||||||||||||
Net income attributable to Aleris Corporation | $ | 107.5 | $ | 107.5 | $ | 2.8 | $ | 107.4 | $ | (217.7 | ) | $ | 107.5 | ||||||||||||
Comprehensive income | $ | 74.1 | $ | 74.1 | $ | (15.6 | ) | $ | 91.8 | $ | (150.8 | ) | $ | 73.6 | |||||||||||
Comprehensive loss attributable to noncontrolling interest | — | — | — | (0.5 | ) | — | (0.5 | ) | |||||||||||||||||
Comprehensive income attributable to Aleris Corporation | $ | 74.1 | $ | 74.1 | $ | (15.6 | ) | $ | 92.3 | $ | (150.8 | ) | $ | 74.1 | |||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 2,122.20 | $ | 2,714.70 | $ | (10.5 | ) | $ | 4,826.40 | ||||||||||||
Cost of sales | — | — | 1,949.30 | 2,415.50 | (10.5 | ) | 4,354.30 | ||||||||||||||||||
Gross profit | — | — | 172.9 | 299.2 | — | 472.1 | |||||||||||||||||||
Selling, general and administrative expenses | — | 0.1 | 114.4 | 159.8 | — | 274.3 | |||||||||||||||||||
Restructuring charges | — | — | 0.6 | 3.8 | — | 4.4 | |||||||||||||||||||
(Gains) losses on derivative financial instruments | — | — | (5.2 | ) | 5.2 | — | — | ||||||||||||||||||
Other operating expense (income), net | — | — | 1.9 | (4.3 | ) | — | (2.4 | ) | |||||||||||||||||
Operating (loss) income | — | (0.1 | ) | 61.2 | 134.7 | — | 195.8 | ||||||||||||||||||
Interest expense, net | — | — | 40.1 | 6.2 | — | 46.3 | |||||||||||||||||||
Other (income) expense, net | — | (0.2 | ) | (7.6 | ) | 0.3 | — | (7.5 | ) | ||||||||||||||||
Equity in net earnings of affiliates | (161.6 | ) | (161.5 | ) | (7.2 | ) | — | 330.3 | — | ||||||||||||||||
Income before income taxes | 161.6 | 161.6 | 35.9 | 128.2 | (330.3 | ) | 157 | ||||||||||||||||||
Provision for (benefit from) income taxes | — | — | 3.5 | (7.7 | ) | — | (4.2 | ) | |||||||||||||||||
Net income | $ | 161.6 | $ | 161.6 | $ | 32.4 | $ | 135.9 | $ | (330.3 | ) | $ | 161.2 | ||||||||||||
Net loss attributable to noncontrolling interest | $ | — | $ | — | $ | — | $ | (0.4 | ) | $ | — | $ | (0.4 | ) | |||||||||||
Net income attributable to Aleris Corporation | $ | 161.6 | $ | 161.6 | $ | 32.4 | $ | 136.3 | $ | (330.3 | ) | $ | 161.6 | ||||||||||||
Comprehensive income | $ | 105.9 | $ | 105.9 | $ | 2.2 | $ | 111.9 | $ | (220.2 | ) | $ | 105.7 | ||||||||||||
Comprehensive loss attributable to noncontrolling interest | $ | — | $ | — | $ | — | $ | (0.2 | ) | $ | — | $ | (0.2 | ) | |||||||||||
Comprehensive income attributable to Aleris Corporation | $ | 105.9 | $ | 105.9 | $ | 2.2 | $ | 112.1 | $ | (220.2 | ) | $ | 105.9 | ||||||||||||
Schedule of Condensed Cash Flow Statement | ' | ||||||||||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 132.1 | $ | 66.2 | $ | 119.6 | $ | 13.5 | $ | (299.5 | ) | $ | 31.9 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (73.3 | ) | (165.0 | ) | — | (238.3 | ) | ||||||||||||||||
Net proceeds from the disposal of property, plant and equipment | — | — | 0.9 | 2 | — | 2.9 | |||||||||||||||||||
Disbursements of intercompany loans | — | (60.0 | ) | (50.8 | ) | — | 110.8 | — | |||||||||||||||||
Repayments from intercompany loans | — | 60 | 66 | 0.9 | (126.9 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (510.7 | ) | (16.8 | ) | — | 527.5 | — | |||||||||||||||||
Return of investments in subsidiaries | 180.9 | 292.6 | — | — | (473.5 | ) | — | ||||||||||||||||||
Net cash provided (used) by investing activities | 180.9 | (218.1 | ) | (74.0 | ) | (162.1 | ) | 37.9 | (235.4 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the ABL Facility | — | 10.3 | — | 20 | — | 30.3 | |||||||||||||||||||
Payments on the ABL Facility | — | (10.3 | ) | — | (20.0 | ) | — | (30.3 | ) | ||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||||
Proceeds from Zhenjiang Revolver | — | — | — | 4.1 | — | 4.1 | |||||||||||||||||||
Payments on Zhenjiang Revolver | — | — | — | (4.1 | ) | — | (4.1 | ) | |||||||||||||||||
Net payments from other long-term debt | — | — | — | (5.2 | ) | — | (5.2 | ) | |||||||||||||||||
Redemption of noncontrolling interest | — | — | — | (8.9 | ) | — | (8.9 | ) | |||||||||||||||||
Dividends paid | (313.0 | ) | (313.0 | ) | (292.6 | ) | (166.0 | ) | 771.6 | (313.0 | ) | ||||||||||||||
Proceeds from intercompany loans | — | — | — | 110.8 | (110.8 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | (0.9 | ) | (126.0 | ) | 126.9 | — | |||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 247.9 | 279.6 | (527.5 | ) | — | ||||||||||||||||||
Other | — | (3.8 | ) | — | (0.9 | ) | — | (4.7 | ) | ||||||||||||||||
Net cash (used) provided by financing activities | (313.0 | ) | (316.8 | ) | (45.6 | ) | 83.6 | 260.2 | (331.6 | ) | |||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | 2.3 | — | 2.3 | |||||||||||||||||||
Net decrease in cash and cash equivalents | — | (468.7 | ) | — | (62.7 | ) | (1.4 | ) | (532.8 | ) | |||||||||||||||
Cash and cash equivalents at beginning of period | — | 472.4 | — | 121.6 | (1.1 | ) | 592.9 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 3.7 | $ | — | $ | 58.9 | $ | (2.5 | ) | $ | 60.1 | ||||||||||||
For the year ended December 31, 2012 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 1.5 | $ | 32.1 | $ | 84.6 | $ | 36.1 | $ | (1.8 | ) | $ | 152.5 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (122.1 | ) | (268.1 | ) | — | (390.2 | ) | ||||||||||||||||
Purchase of a business | — | — | — | (21.5 | ) | — | (21.5 | ) | |||||||||||||||||
Net (payments on) proceeds from the disposal of property, plant and equipment | — | — | (0.3 | ) | 0.8 | — | 0.5 | ||||||||||||||||||
Disbursements of intercompany loans | — | — | (19.1 | ) | — | 19.1 | — | ||||||||||||||||||
Repayments from intercompany loans | — | — | 57.6 | 0.8 | (58.4 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (116.2 | ) | (5.9 | ) | — | 122.1 | — | |||||||||||||||||
Other | — | — | 0.1 | — | — | 0.1 | |||||||||||||||||||
Net cash used by investing activities | — | (116.2 | ) | (89.7 | ) | (288.0 | ) | 82.8 | (411.1 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the issuance of 7 7/8% Senior Notes, net of discount of $8.7 | — | 491.3 | — | — | — | 491.3 | |||||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 130.9 | — | 130.9 | |||||||||||||||||||
Net payments on other long-term debt | — | — | — | (0.2 | ) | — | (0.2 | ) | |||||||||||||||||
Debt issuance costs | — | (1.8 | ) | — | (0.5 | ) | — | (2.3 | ) | ||||||||||||||||
Proceeds from intercompany loans | — | — | — | 19.1 | (19.1 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | (0.8 | ) | (57.6 | ) | 58.4 | — | |||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 5.9 | 116.2 | (122.1 | ) | — | ||||||||||||||||||
Dividends paid | — | — | — | (2.1 | ) | 2.1 | — | ||||||||||||||||||
Other | (1.5 | ) | (0.1 | ) | — | (0.9 | ) | — | (2.5 | ) | |||||||||||||||
Net cash (used) provided by financing activities | (1.5 | ) | 489.4 | 5.1 | 204.9 | (80.7 | ) | 617.2 | |||||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | 2.9 | — | 2.9 | |||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | 405.3 | — | (44.1 | ) | 0.3 | 361.5 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 67.1 | — | 165.7 | (1.4 | ) | 231.4 | ||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 472.4 | $ | — | $ | 121.6 | $ | (1.1 | ) | $ | 592.9 | ||||||||||||
For the year ended December 31, 2011 | |||||||||||||||||||||||||
Aleris Corporation (Parent) | Aleris International, Inc. | Guarantor Subsidiaries | Non-Guarantor Subsidiaries | Eliminations | Consolidated | ||||||||||||||||||||
Net cash provided by operating activities | $ | 212.8 | $ | 102.4 | $ | 73.3 | $ | 95.4 | $ | (217.0 | ) | $ | 266.9 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Payments for property, plant and equipment | — | — | (73.9 | ) | (130.7 | ) | — | (204.6 | ) | ||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | 7.7 | — | 7.7 | |||||||||||||||||||
Disbursements of intercompany loans | — | — | (4.9 | ) | — | 4.9 | — | ||||||||||||||||||
Repayments from intercompany loans | — | — | 5.5 | — | (5.5 | ) | — | ||||||||||||||||||
Equity contributions in subsidiaries | — | (61.7 | ) | (13.7 | ) | — | 75.4 | — | |||||||||||||||||
Return of investments in subsidiaries | 287.2 | — | — | — | (287.2 | ) | — | ||||||||||||||||||
Other | — | — | — | (0.4 | ) | — | (0.4 | ) | |||||||||||||||||
Net cash provided (used) by investing activities | 287.2 | (61.7 | ) | (87.0 | ) | (123.4 | ) | (212.4 | ) | (197.3 | ) | ||||||||||||||
Financing activities | |||||||||||||||||||||||||
Proceeds from the issuance of 7 5/8% Senior Notes, net of discount of $10.0 | — | 490 | — | — | — | 490 | |||||||||||||||||||
Proceeds from Zhenjiang Term Loans | — | — | — | 56.7 | — | 56.7 | |||||||||||||||||||
Net proceeds on other long-term debt | — | — | — | 1.1 | — | 1.1 | |||||||||||||||||||
Debt issuance costs | — | (2.9 | ) | — | (1.5 | ) | — | (4.4 | ) | ||||||||||||||||
Proceeds from intercompany loans | — | — | — | 4.9 | (4.9 | ) | — | ||||||||||||||||||
Repayments on intercompany loans | — | — | — | (5.5 | ) | 5.5 | — | ||||||||||||||||||
Proceeds from intercompany equity contributions | — | — | 13.7 | 61.7 | (75.4 | ) | — | ||||||||||||||||||
Contributions from noncontrolling interest | — | — | — | 7.6 | — | 7.6 | |||||||||||||||||||
Dividends paid | (500.0 | ) | (500.0 | ) | — | (2.8 | ) | 502.8 | (500.0 | ) | |||||||||||||||
Other | — | 1.4 | — | 1.3 | — | 2.7 | |||||||||||||||||||
Net cash (used) provided by financing activities | (500.0 | ) | (11.5 | ) | 13.7 | 123.5 | 428 | 53.7 | |||||||||||||||||
Effect of exchange rate differences on cash and cash equivalents | — | — | — | (5.4 | ) | — | (5.4 | ) | |||||||||||||||||
Net increase in cash and cash equivalents | — | 29.2 | — | 90.1 | (1.4 | ) | 117.9 | ||||||||||||||||||
Cash and cash equivalents at beginning of period | — | 37.9 | — | 75.6 | — | 113.5 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 67.1 | $ | — | $ | 165.7 | $ | (1.4 | ) | $ | 231.4 | ||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Oct. 23, 2012 | Aug. 02, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Aleris Zhenjiang [Member] | Aleris Zhenjiang [Member] | Aleris Zhenjiang [Member] | Aleris Zhenjiang [Member] | Minimum [Member] | Maximum [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | ||||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | 100.00% | 96.00% | 93.00% | 81.00% | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest redemption value adjustments | $4.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' |
Redemption of noncontrolling interest | 8.9 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory Write-down | 4.5 | 1.2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Inventory, Materials, Supplies and Merchandise under Consignment, Gross | 23.6 | 19.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain (Loss) on Contract Termination | ' | ' | 11.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and Development Expense | 12.4 | 7.3 | 16.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weight of comparable public company analysis | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted-average cost of capital | ' | ' | ' | ' | ' | ' | ' | 12.00% | 14.00% | ' | ' | ' |
Projected EBIT, Range Estimate | ' | ' | ' | ' | ' | ' | ' | 7.5 | 18 | ' | ' | ' |
Projected EBITDA, Range Estimate | ' | ' | ' | ' | ' | ' | ' | 5 | 9.5 | ' | ' | ' |
Projected Net Sales, Range Estimate | ' | ' | ' | ' | ' | ' | ' | 0.43 | 0.65 | ' | ' | ' |
Stock-based compensation expense | 14.3 | 11.4 | 10.1 | ' | ' | ' | ' | ' | ' | 14.3 | 11.4 | 10.1 |
Collateral Already Posted, Aggregate Fair Value | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Currency Transaction Gain (Loss), before Tax | $6.20 | $1.50 | ($2.10) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies Account Receivable Allowance for Bad Debt (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' |
Allowance for Doubtful Accounts Receivable, Current | $8.10 | $8.70 | $8.70 |
Allowance for Doubtful Accounts Receivable, Period Increase (Decrease) | 42.7 | 39.9 | 57.6 |
Allowance for Doubtful Accounts Receivable, Charge-offs | -43.1 | -40.5 | -57.6 |
Allowance for Doubtful Accounts Receivable, Current | $7.70 | $8.10 | $8.70 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies Property, Plant and Equipment (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '5 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '33 years |
Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '2 years |
Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '25 years |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property, Plant and Equipment, Useful Life | '10 years |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Capitalized Interest Cost (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' |
Interest Costs Capitalized | $7.70 | $14.80 | $2 |
Restructuring_Charges_Details
Restructuring Charges (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring charges | $10.70 | $9.60 | $4.40 |
Restructuring Reserve | 4.6 | ' | ' |
Restructuring Reserve, Settled with Cash | 4 | ' | ' |
One-time Termination Benefits [Member] | ' | ' | ' |
Restructuring charges | 8.6 | 7.6 | ' |
RPNA [Member] | ' | ' | ' |
Restructuring charges | ' | 0.2 | ' |
RPEU [Member] | ' | ' | ' |
Restructuring charges | 4.5 | 2.2 | ' |
Extrusions [Member] | ' | ' | ' |
Restructuring charges | 1.7 | 1 | ' |
RSAA [Member] | ' | ' | ' |
Restructuring charges | ' | 0.9 | ' |
RSEU [Member] | ' | ' | ' |
Restructuring charges | 0.8 | 1 | ' |
Corporate and Other [Member] | ' | ' | ' |
Restructuring charges | $1.50 | $2.30 | ' |
Restructuring_Charges_Reconcil
Restructuring Charges Reconciliation of Restructuring Liabilities (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | $10.70 | $9.60 | $4.40 |
Restructuring Reserve, Settled with Cash | -4 | ' | ' |
Restructuring Reserve | 4.6 | ' | ' |
One-time Termination Benefits [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | 8.6 | 7.6 | ' |
RPNA [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | ' | 0.2 | ' |
RPEU [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | 4.5 | 2.2 | ' |
Extrusions [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | 1.7 | 1 | ' |
RSAA [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | ' | 0.9 | ' |
RSEU [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | 0.8 | 1 | ' |
Unallocated Amount to Segment [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring charges | 1.5 | 2.3 | ' |
Duffel Rolled Products [Member] | RPEU [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve | 9.3 | 11.6 | 12.9 |
Restructuring charges | 0.8 | -0.4 | 0.2 |
Restructuring Reserve, Settled with Cash | -4.9 | -2.9 | -0.8 |
Restructuring Reserve, Translation Adjustment | 0.9 | 0.2 | -0.3 |
Restructuring Reserve | 4.5 | 9.3 | 11.6 |
Duffel Extrusions [Member] | Extrusions [Member] | ' | ' | ' |
Restructuring Reserve [Roll Forward] | ' | ' | ' |
Restructuring Reserve | 2.9 | 3.2 | 3.6 |
Restructuring charges | 0.1 | -0.1 | -0.1 |
Restructuring Reserve, Settled with Cash | -1.5 | -0.5 | -0.4 |
Restructuring Reserve, Translation Adjustment | 0 | 0.1 | -0.1 |
Restructuring Reserve | $1.30 | $2.90 | $3.20 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory, Net [Abstract] | ' | ' |
Finished goods | $185.60 | $183.80 |
Raw materials | 265.9 | 279.4 |
Work in process | 203 | 196.2 |
Supplies | 28.9 | 24 |
Total inventories | $683.40 | $683.40 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Land | $162.20 | $152.70 | ' |
Buildings and Improvements, Gross | 234.6 | 120.8 | ' |
Machinery and Equipment, Gross | 933.9 | 505.1 | ' |
Furniture and Fixtures, Gross | 82.3 | 57.7 | ' |
Construction in Progress, Gross | 52 | 423.4 | ' |
Property, Plant and Equipment, Gross | 1,465 | 1,259.70 | ' |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -307.3 | -182.7 | ' |
Property, plant and equipment, net | 1,157.70 | 1,077 | ' |
Capital Leased Assets, Gross | 9.6 | 4.4 | ' |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | -2.6 | -1 | ' |
Depreciation, Depletion and Amortization, Nonproduction | 19.1 | 7.6 | 4.2 |
Cost of Goods Sold, Depreciation | 108.3 | 75.1 | 64 |
Cost of Property Repairs and Maintenance | $120 | $110.30 | $114.70 |
Intangible_Assets_Details
Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Intangible Asset [Line Items] | ' | ' | ' |
Intangible Assets, Gross | $51 | $51 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | -7.5 | -5.4 | ' |
Intangible Assets, Net (Excluding Goodwill) | 43.5 | 45.6 | ' |
Finite-Lived Intangible Asset, Useful Life | '17 years | ' | ' |
Amortization of Intangible Assets | 2.1 | 2.1 | 2.1 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 2.1 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 2.1 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 2.1 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 2.1 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 2.1 | ' | ' |
Total Estimated Amortization Expense for the Next Five Years | 10.5 | ' | ' |
Trade Names [Member] | ' | ' | ' |
Schedule of Intangible Asset [Line Items] | ' | ' | ' |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 16.8 | 16.8 | ' |
Intangible Average Useful Life | ' Indefinite | ' | ' |
Developed Technology Rights [Member] | ' | ' | ' |
Schedule of Intangible Asset [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 5.9 | 5.9 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | -0.9 | -0.6 | ' |
Intangible Assets, Net (Excluding Goodwill) | 5 | 5.3 | ' |
Finite-Lived Intangible Asset, Useful Life | '25 years | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Schedule of Intangible Asset [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 28.3 | 28.3 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | -6.6 | -4.8 | ' |
Intangible Assets, Net (Excluding Goodwill) | $21.70 | $23.50 | ' |
Finite-Lived Intangible Asset, Useful Life | '15 years | ' | ' |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Accrued liabilities | $200.90 | $302.40 |
Employee-Related Cost [Member] | ' | ' |
Accrued liabilities | 58 | 69.5 |
Professional Fee [Member] | ' | ' |
Accrued liabilities | 6.2 | 8.9 |
Toll Liability [Member] | ' | ' |
Accrued liabilities | 34.8 | 21.7 |
Taxes [Member] | ' | ' |
Accrued liabilities | 10.4 | 34.9 |
Interest Expense [Member] | ' | ' |
Accrued liabilities | 21.9 | 24 |
Restructuring Charges [Member] | ' | ' |
Accrued liabilities | 5.6 | 17.5 |
Capital Expenditures [Member] | ' | ' |
Accrued liabilities | 28.7 | 74.3 |
Derivative Financial Instruments, Liabilities [Member] | ' | ' |
Accrued liabilities | 1.7 | 6.4 |
Other Liabilities [Member] | ' | ' |
Accrued liabilities | $33.60 | $45.20 |
Asset_Retirement_Obligation_De
Asset Retirement Obligation (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ' |
Asset Retirement Obligation, Beginning Balance | $14.60 | $13.70 | $12.90 |
Asset Retirement Obligation, Revision of Estimate | 0.2 | 2.1 | 1.3 |
Asset Retirement Obligation, Accretion Expense | 0.5 | 0.5 | 0.5 |
Asset Retirement Obligation, Liabilities Settled | -2.9 | -1.7 | -1 |
Asset Retirement Obligation, Ending Balance | $12.40 | $14.60 | $13.70 |
LongTerm_Debt_Narratives_Detai
Long-Term Debt (Narratives) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 09, 2011 | Dec. 31, 2012 | Dec. 31, 2013 | Oct. 23, 2012 | Dec. 31, 2013 | Jun. 02, 2010 | 31-May-10 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | ABL Facility [Member] | ABL Facility [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Notes Payable to Banks [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | United States Dollars [Member] | Renminbi with U.S. Dollars Equivalent [Member] | Less Than 33% Average Utilization [Member] | Less Than 33% Average Utilization [Member] | Between 33% and 67% Average Utilization [Member] | Between 33% and 67% Average Utilization [Member] | Between 33% and 67% Average Utilization [Member] | Greater Than 67% Average Utilization [Member] | Greater Than 67% Average Utilization [Member] | U.S. [Member] | Aleris Switzerland [Member] | Aleris Spec Alloy Canada [Member] | Letter of Credit [Member] | Aleris Corporation (Parent) [Member] | Amended Term Loan [Member] | Amended Term Loan [Member] | Amended Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Overnight Federal Funds Rate [Member] | Eurodollar Rate [Member] | London Interbank Offered Rate [Member] | |
USD ($) | USD ($) | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | Amended Term Loan [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | ABL Facility [Member] | Senior Notes [Member] | Senior Notes [Member] | Line of Credit [Member] | ABL Facility [Member] | Senior Notes [Member] | Senior Notes [Member] | Line of Credit [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | ABL Facility [Member] | Maximum [Member] | ABL Facility [Member] | Minimum [Member] | Maximum [Member] | ABL Facility [Member] | Minimum [Member] | Subsidiaries [Member] | Aleris Switzerland GmbH [Member] | Aleris Specification Alloy Products Canada Company [Members] | ABL Facility [Member] | USD ($) | United States Dollars [Member] | Renminbi with U.S. Dollars Equivalent [Member] | Renminbi with U.S. Dollars Equivalent [Member] | United States Dollars [Member] | Renminbi with U.S. Dollars Equivalent [Member] | Line of Credit [Member] | Line of Credit [Member] | Notes Payable to Banks [Member] | ||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | CNY | CNY | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | ABL Facility [Member] | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | ABL Facility [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | USD ($) | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | ABL Facility [Member] | ABL Facility [Member] | Zhenjiang term loans [Member] | ||||||||||||||||||
USD ($) | CNY | USD ($) | USD ($) | USD ($) | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | ||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | CNY | USD ($) | CNY | |||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amended and restated maximum borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $38,100,000 | 232,800,000 | ' | ' | ' | ' | ' | ' | ' | $600,000,000 | $240,000,000 | $15,000,000 | ' | ' | $30,600,000 | $162,600,000 | 993,500,000 | $67,100,000 | 410,000,000 | ' | ' | ' |
Maximum allowance for letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated maximum supported borrowings | ' | ' | ' | ' | 423,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding letters of credit | ' | ' | ' | ' | 40,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount available for borrowings | ' | ' | ' | ' | 382,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Applicable margin range for debt instrument interest rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Additional basis spread on variable rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' |
Unutilized commitment fee (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | 0.38% | ' | ' | 0.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Average Utilization for Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33.00% | ' | 33.00% | 67.00% | ' | 67.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayment with net cash proceeds of asset sales (percent) | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayment with net cash proceeds from issuance of debt (percent) | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Mandatory prepayment with net cash proceeds from insurance and condemnation payments (percent) | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing amount available for required repayment | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of total commitments or borrowing base for required repayment (percent) | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing amount available for fixed charge fee | ' | ' | ' | 45,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of commitments or borrowing base for fixed charge fee (percent) | ' | ' | ' | 12.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of common stock dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate original principal amount of debt | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | 500,000,000 | ' | 45,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | 7.63% | 7.63% | ' | 7.88% | 7.88% | ' | ' | 6.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior notice before redemption (in days) | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | '30 days | ' | ' | '60 days | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial redemption price percent of principal amount (percent) | ' | ' | ' | ' | ' | 105.70% | ' | ' | 105.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum redemption price percent of principal amount (percent) | ' | ' | ' | ' | ' | 100.00% | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum redemption percent of original principal amount (percent) | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Repurchase Percent of Princial Amount, Post Issuance Redemption Price | ' | ' | ' | ' | ' | ' | ' | ' | 107.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum remaining percent of original principal amount after redemption (percent) | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption percent of principal amount after notice (percent) | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash redemption price, percent of aggregate principal amount (percent) | ' | ' | ' | ' | ' | 101.00% | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Dividends | 313,000,000 | 0 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock per unit of debt principal amount (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 59.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unit of debt principal amount for conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on term and revolving credit facility for foreign loans (percent) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Zhenjiang revolver | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,100,000 | 4,100,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule_of_Debt_Details
Schedule of Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 09, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 23, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-10 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | Line of Credit [Member] | Line of Credit [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Senior Subordinated Notes [Member] | Notes Payable to Banks [Member] | Notes Payable to Banks [Member] | ||
ABL Facility [Member] | ABL Facility [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | Zhenjiang term loans [Member] | Zhenjiang term loans [Member] | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Line of Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 494.1 | 492.7 | ' | 492.5 | 491.4 | ' | ' | ' | ' | ' | ' |
Convertible Subordinated Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44.2 | 44.2 | ' | ' | ' |
Loans Payable to Bank | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 192.2 | 186.8 |
Other Long-term Debt | 14.4 | 12.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | 1,237.40 | 1,227.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less: Current portion of long-term debt | 8.3 | 9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt | 1,229.10 | 1,218.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | ' | 7.63% | 7.88% | ' | 7.88% | ' | ' | 6.00% | ' | ' |
Debt discount | ' | ' | $5.90 | $7.30 | $7.50 | $8.60 | $0.70 | $0.80 | $1 | $1.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_of_Matu
Long-Term Debt Schedule of Maturities (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | $5.10 |
Capital Leases, Future Minimum Payments Due, Next Twelve Months | 3.2 |
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0.5 |
Capital Leases, Future Minimum Payments Due in Two Years | 2.8 |
Long-term Debt, Maturities, Repayments of Principal in Year Three | 10.1 |
Capital Leases, Future Minimum Payments Due in Three Years | 2 |
Long-term Debt, Maturities, Repayments of Principal in Year Four | 19.6 |
Capital Leases, Future Minimum Payments Due in Four Years | 0.5 |
Long-term Debt, Maturities, Repayments of Principal in Year Five | 529.4 |
Capital Leases, Future Minimum Payments Due in Five Years | 0.1 |
Long-term Debt, Maturities, Repayments of Principal after Year Five | 679.1 |
Capital Leases, Future Minimum Payments Due Thereafter | 0.1 |
Long-term Debt, Gross | 1,243.80 |
Capital Leases, Future Minimum Payments Due | $8.70 |
Employee_Benefit_Plans_Company
Employee Benefit Plans Company Match of Employee Contributions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Company Match of Employee Contributions [Member] | ' | ' | ' |
Company Match of Employee Contributions [Line Items] | ' | ' | ' |
Defined Benefit Plan, Contributions by Employer | $4.30 | $4.40 | $3.90 |
Supplemental Employer Contributions [Member] | ' | ' | ' |
Company Match of Employee Contributions [Line Items] | ' | ' | ' |
Defined Benefit Plan, Contributions by Employer | $1.40 | $1.50 | $1.30 |
Components_of_the_Net_Periodic
Components of the Net Periodic and Postretirement Benefit Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | ($3.70) | ($3) | ($2.60) |
Interest cost | -6.6 | -7.2 | -7.5 |
Amortization of net loss | 1.5 | 0.3 | 0 |
Defined Benefit Plan, Amortization of Prior Service Cost (Credit) | 0.1 | 0.1 | 0 |
Expected return on plan assets | -9.5 | -8.4 | -8 |
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 0.2 | 0 | 0 |
Net periodic benefit expense | 2.6 | 2.2 | 2.1 |
European Pension Benefits | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | -5 | -2.7 | -2.5 |
Interest cost | -7.3 | -7.1 | -7.7 |
Amortization of net loss | 1.7 | 0 | 0 |
Expected return on plan assets | -0.2 | -0.1 | -0.1 |
Net periodic benefit expense | 13.8 | 9.7 | 10.1 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Service cost | -0.2 | -0.2 | -0.2 |
Interest cost | -1.8 | -2.4 | -2.6 |
Amortization of net loss | 0.4 | 0.3 | 0 |
Net periodic benefit expense | $2.40 | $2.90 | $2.80 |
Employee_Benefit_Plans_Changes
Employee Benefit Plans Changes in Projected Benefit Obligation and Plan Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation | $45 | $56.40 | $57.50 |
Defined Benefit Plan, Service Cost | 0.2 | 0.2 | 0.2 |
Defined Benefit Plan, Interest Cost | 1.8 | 2.4 | 2.6 |
Defined Benefit Plan, Contributions by Employer | 4.4 | 3.6 | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | 9 | 0.1 | ' |
Defined Benefit Plan, Benefits Paid | -5.3 | -4.9 | ' |
Defined Benefit Plan, Contributions by Plan Participants | 0.7 | 0.8 | ' |
Defined Benefit Plan, Gross Prescription Drug Subsidy Receipts Received | 0.2 | 0.5 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 | 0 |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation | 163.7 | 185.3 | 165 |
Defined Benefit Plan, Service Cost | 3.7 | 3 | 2.6 |
Defined Benefit Plan, Interest Cost | 6.6 | 7.2 | 7.5 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 0 | 0 | ' |
Defined Benefit Plan, Contributions by Employer | 10.3 | 12.8 | ' |
Defined Benefit Plan, Actual Return on Plan Assets | -18.4 | -11.5 | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | 19.7 | -20.5 | ' |
Defined Benefit Plan, Administration Expenses | 1.1 | 1.3 | ' |
Defined Benefit Plan, Benefits Paid | -8.3 | -9.1 | ' |
Defined Benefit Plan, Settlements, Plan Assets | -2.8 | 0 | ' |
Defined Benefit Plan, Settlements, Benefit Obligation | -2.8 | 0 | ' |
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets | 0 | 0 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 130 | 113.5 | 99.6 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | -33.7 | -71.8 | ' |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Benefit Obligation | 205.8 | 195.5 | 149.2 |
Defined Benefit Plan, Service Cost | 5 | 2.7 | 2.5 |
Defined Benefit Plan, Interest Cost | 7.3 | 7.1 | 7.7 |
Defined Benefit Plan, Foreign Currency Exchange Rate Gain (Loss) | 9.3 | 4.4 | ' |
Defined Benefit Plan, Contributions by Employer | 7.5 | 7 | ' |
Defined Benefit Plan, Actual Return on Plan Assets | 0 | -0.1 | ' |
Defined Benefit Plan, Actuarial Gain (Loss) | 4.6 | -38.4 | ' |
Defined Benefit Plan, Administration Expenses | 0 | 0 | ' |
Defined Benefit Plan, Benefits Paid | -6.7 | -6.3 | ' |
Defined Benefit Plan, Settlements, Plan Assets | 0 | 0 | ' |
Defined Benefit Plan, Settlements, Benefit Obligation | 0 | 0 | ' |
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets | 0.6 | 0.1 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 5.2 | 3.8 | 2.9 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | ($200.60) | ($191.70) | ' |
Employee_Benefit_Plans_Defined
Employee Benefit Plans Defined Benefit Plans Amounts Recognized in the Balance Sheet (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | ($228.50) | ($258.20) |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | 33.7 | 71.8 |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | -0.1 | ' |
Defined Benefit Plan, Accumulated Benefit Obligation | 163.7 | 185.3 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | 163.7 | 185.3 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 130 | 113.5 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -163.7 | -185.3 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 6.4 | 36.6 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | 0.8 | 0.8 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 7.2 | 37.4 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 11.3 | ' |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 0 | 0 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -45 | -56.4 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | -1.4 | 8.1 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | -1.4 | 8.1 |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Amounts Recognized in Balance Sheet | 200.6 | 191.7 |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | -1.3 | ' |
Defined Benefit Plan, Accumulated Benefit Obligation | 197.9 | 187.2 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation | 205.6 | 195.5 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets | 4.7 | 3.8 |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -197.7 | -187.2 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax | 38 | 42.2 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Prior Service Cost (Credit), before Tax | 0 | 0 |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax | 38 | 42.2 |
Defined Benefit Plan, Estimated Future Employer Contributions in Next Fiscal Year | 7.9 | ' |
Prior Service Cost [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | -0.1 | ' |
Prior Service Cost [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | 0 | ' |
Other Noncurrent Assets [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent | 0 | 0 |
Other Noncurrent Assets [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Assets for Plan Benefits, Noncurrent | 0.2 | 0 |
Accrued Liabilities [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan Liabilities, Current | 0 | 0 |
Accrued Liabilities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan Liabilities, Current | -4.1 | -4.4 |
Accrued Liabilities [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan Liabilities, Current | -6 | -5.3 |
Accrued pension benefits [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | -33.7 | -71.8 |
Accrued pension benefits [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | -40.9 | -52 |
Accrued pension benefits [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Pension Plan, Liabilities, Noncurrent | -194.8 | -186.4 |
Other Long-Term Liabilities and Accrued Liabilities [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -33.7 | -71.8 |
Other Long-Term Liabilities and Accrued Liabilities [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -45 | -56.4 |
Other Long-Term Liabilities and Accrued Liabilities [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | -200.6 | -191.7 |
Amortization of net actuarial loss [Member] | United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | 0 | ' |
Amortization of net actuarial loss [Member] | Foreign Pension Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | -1.3 | ' |
Amortization of net actuarial loss [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | 0.4 | ' |
Amortization of net actuarial loss [Member] | Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Pension and Other Postretirement Benefit Plans, Amounts that Will be Amortized from Accumulated Other Comprehensive Income (Loss) in Next Fiscal Year | $0.40 | ' |
Employee_Benefit_Plans_Assumpt
Employee Benefit Plans Assumptions Used to Determine Benefit Obligations (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.60% | 4.50% | 5.20% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.60% | 3.60% | 4.50% |
Other Postretirement Benefit Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.20% | 4.30% | 5.20% |
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year | 7.20% | 7.40% | 7.70% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.20% | 3.20% | 4.30% |
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate | 4.50% | 4.50% | 4.50% |
Defined Benefit Plan, Year that Rate Reaches Ultimate Trend Rate | '2027 | '2027 | '2027 |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.70% | 4.90% | 5.40% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 3.90% | 3.70% | 4.90% |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase | 3.00% | 3.00% | 3.00% |
Employee_Benefit_Plans_Assumpt1
Employee Benefit Plans Assumptions Used to Determine the Net Periodic Benefit Cost (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.60% | 4.50% | 5.20% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 8.30% | 8.30% | 8.30% |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate | 3.70% | 4.90% | 5.40% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets | 3.50% | 4.10% | 4.20% |
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase | 3.00% | 3.00% | 3.00% |
Employee_Benefit_Plans_Plan_As
Employee Benefit Plans Plan Asset Allocations (Details) | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 100.00% | ' |
Equity [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 4.00% | 4.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 3.00% | ' |
Fixed Income Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 22.00% | 23.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 25.00% | ' |
Cash [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 1.00% | 1.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 0.00% | ' |
Equity Securities [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 63.00% | 62.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 60.00% | ' |
Real Estate Investment [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Actual Plan Asset Allocations | 10.00% | 10.00% |
Defined Benefit Plan, Target Allocation for Plan Asset | 12.00% | ' |
Employee_Benefit_Plans_Fair_Va
Employee Benefit Plans Fair Values of Pension Plan Assets by Asset Class (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $135.20 | $117.30 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 59.8 | 55.6 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 74.7 | 61.7 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0.7 | 0 |
Cash and Cash Equivalents [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1.3 | 1.6 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 1.3 | 1.6 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Equity Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16.9 | 15.7 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 16.9 | 15.7 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Equity Securities, Other [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.2 | 11.1 |
Equity Securities, Other [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.2 | 11.1 |
Equity Securities, Other [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Equity Securities, Other [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
International equities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.8 | 13 |
International equities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.8 | 13 |
International equities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
International equities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Fixed Income Securities [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.6 | 14.2 |
Fixed Income Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.6 | 14.2 |
Fixed Income Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Fixed Income Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Hedge Funds, Equity [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 18.9 | 14.8 |
Hedge Funds, Equity [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Hedge Funds, Equity [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 18.9 | 14.8 |
Hedge Funds, Equity [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Real Estate Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.9 | 12.1 |
Real Estate Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Real Estate Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 13.9 | 12.1 |
Real Estate Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Private Equity Funds, Foreign [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.8 | 11.6 |
Private Equity Funds, Foreign [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Private Equity Funds, Foreign [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.8 | 11.6 |
Private Equity Funds, Foreign [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Fixed Income Funds [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.5 | 13.2 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 14.5 | 13.2 |
Fixed Income Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Private Equity Funds, Domestic [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 7.4 | 5.5 |
Private Equity Funds, Domestic [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Private Equity Funds, Domestic [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 7.4 | 5.5 |
Private Equity Funds, Domestic [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Other pension assets [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 5.9 | 4.5 |
Other pension assets [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 0 |
Other pension assets [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | 5.2 | 4.5 |
Other pension assets [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0.70 | $0 |
Employee_Benefit_Plans_Changes1
Employee Benefit Plans Changes in fair value of Level 3 (Details) (Fair Value, Inputs, Level 3 [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0.70 | $0 |
Other pension assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3 | 0.7 | ' |
Defined Benefit Plan, Fair Value of Plan Assets | $0.70 | $0 |
Employee_Benefit_Plans_Expecte
Employee Benefit Plans Expected Future Benefit Payments (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | $9.80 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 10.4 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 10.4 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 10.9 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 10.9 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 55.9 |
Foreign Pension Plans, Defined Benefit [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 7.1 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 7.3 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 7.6 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 7.9 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 9.2 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Fiscal Years Thereafter | 47.1 |
Gross Benefit Payment [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 4.3 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 4.3 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 4.2 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 4.2 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 4 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Rolling Years Thereafter | 16.5 |
Defined Benefit Plan Payment Net of Medicare Part D Subsidy [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months | 4.1 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Two | 4.1 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Three | 4 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Four | 3.9 |
Defined Benefit Plan, Expected Future Benefit Payments, Year Five | 3.8 |
Defined Benefit Plan, Expected Future Benefit Payments, Five Rolling Years Thereafter | $16.20 |
Employee_Benefit_Plans_Effect_
Employee Benefit Plans Effect of Change in Assumed Health Care Cost Trend Rates (Details) (Other Postretirement Benefit Plans, Defined Benefit [Member], USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
1% Rate increase [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | $0.10 |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | 1.8 |
1% Rate decrease [Member] | ' |
Defined Benefit Plan Disclosure [Line Items] | ' |
Defined Benefit Plan, Effect of One Percentage Point Increase on Service and Interest Cost Components | -0.1 |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | ($1.50) |
Employee_Benefit_Plans_Unfunde
Employee Benefit Plans Unfunded early retirement benefit plans (Details) (Belgium and German subsidiaries [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities | $14.50 | $15.40 |
Current liabilities [Member] | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' |
Other Postretirement Defined Benefit Plan, Liabilities | $5.10 | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narratives) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 15, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
February 28, 2011 Dividend Paid [Member] | June 30, 2011 Dividend Paid [Member] | November 10, 2011 Dividend Paid [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Senior Management and Nonemployee Directors [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Minimum [Member] | Maximum [Member] | ||||
Two Thousand and Ten Equity Incentive Plan [Member] | Two Thousand and Ten Equity Incentive Plan [Member] | Senior Management and Nonemployee Directors [Member] | Chief Executive Officer [Member] | ||||||||||||||||
Two Thousand and Ten Equity Incentive Plan [Member] | Two Thousand and Ten Equity Incentive Plan [Member] | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16.78 | $47.58 |
Option term | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Dividends, Per Share, Cash Paid | $10 | ' | ' | $9.60 | $3.20 | $3.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Dividends | $313 | $0 | $500 | ' | ' | ' | $180.90 | ' | $287.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 14.3 | 11.4 | 10.1 | ' | ' | ' | 14.3 | 11.4 | 10.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | 13.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $32.11 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 2.8 | 2.8 | 2.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $34.65 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | 311,604 | ' | 293,257 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 131,368 | 119,868 | 131,368 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 164,136 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 293,257 | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for Cancellation of Shares Issued Pursuant to Stock Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense to be Recognized over Next Three Years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.80 | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $10.68 | $24.47 | $18.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $48 | $48.84 | ' | ' |
StockBased_Compensation_Stock_
Stock-Based Compensation Stock option Activity (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,308,286 | 3,712,271 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 7 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $24.34 | $23.24 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $9.41 | $9.26 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 311,604 | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $33.60 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $10.68 | $24.47 | $18.90 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | -258,196 | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Grant Date Fair Value | $10.09 | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $26.10 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | -293,257 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Grant Date Fair Value, Total | $8.32 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price, Total | $18.45 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $24.81 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | -164,136 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Grant Date Fair Value, Total | $9.30 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 3,279,526 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Weighted Average Remaining Contractual Term | '6 years 7 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '6 years 6 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Grant Date Fair Value | $9.35 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $24.26 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,734,277 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $23.83 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Grant Date Fair Value | $8.93 | ' | ' |
StockBased_Compensation_Fair_V
Stock-Based Compensation Fair Value Assumptions (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Options Weighted Average Expected Term | '3 years 7 months | '6 years | '6 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $10.68 | $24.47 | $18.90 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 41.00% | 55.00% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Minimum [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.10% | 0.80% | 1.20% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | 50.00% |
Maximum [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.60% | 1.00% | 1.70% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | 58.00% |
StockBased_Compensation_Restri
Stock-Based Compensation Restricted Stock (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Restricted Stock [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | 155,709 | 189,009 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $9.41 | $9.26 | $33.47 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | 131,368 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | ' | $34.65 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | ' | ' | -86,931 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | ' | $32.11 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | ' | ' | -11,137 | ' |
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | ' | ' | $30.31 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 3,308,286 | 3,712,271 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $9.41 | $9.26 | $35.54 | ' |
Derivative_And_Other_Financial2
Derivative And Other Financial Instruments (Narratives) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 09, 2011 | Dec. 31, 2013 | Oct. 23, 2012 |
In Millions, unless otherwise specified | Metal [Member] | Metal [Member] | Natural Gas [Member] | Natural Gas [Member] | Currency Swap [Member] | Currency Swap [Member] | Exchangeable Notes [Member] | Exchangeable Notes [Member] | China Loan Facility [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | ||
T | T | Btu | Btu | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | ||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Collateral Already Posted, Aggregate Fair Value | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative, Higher Remaining Maturity Range | ' | ' | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
British thermal units in forward buy contracts (in British thermal units) | ' | ' | ' | ' | 2,900,000,000,000 | 2,200,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Risk-free interest rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | 2.30% | 1.30% | ' | ' | ' | ' | ' |
Expected equity volatility rate (percent) | ' | ' | ' | ' | ' | ' | ' | ' | 55.00% | 60.00% | ' | ' | ' | ' | ' |
Derivative, Notional Amount | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.63% | 7.63% | 7.88% | 7.88% |
Tons of metal in forward contracts with the right to buy (in tons) | ' | ' | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tons of metal in forward contracts with the right to sell (in tons) | ' | ' | 200,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Description of Variable Rate Basis, Maximum Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' |
Derivative_And_Other_Financial3
Derivative And Other Financial Instruments Schedule of Derivative Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | $13.70 | $15.70 |
Derivative Liability, Fair Value, Gross Liability | -17 | -19.4 |
Derivative Asset, Fair Value, Effect of Counterparty Netting | 12.3 | 12.5 |
Derivative Liability, Fair Value, Effect of Counterparty Netting | 12.3 | 12.5 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1.4 | 3.2 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | -4.7 | -6.9 |
Metal [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 13.3 | 15.7 |
Derivative Liability, Fair Value, Gross Liability | -17 | -18.8 |
Natural Gas [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0.4 | 0 |
Derivative Liability, Fair Value, Gross Liability | $0 | ($0.60) |
Derivative_And_Other_Financial4
Derivative And Other Financial Instruments Schedule of Derivative Instruments in Statement of Financial Position (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Prepaid expenses and other current assets | $31.50 | $26.30 |
Other long-term assets | 67.5 | 59.3 |
Derivative Asset, Fair Value, Amount Not Offset Against Collateral | 1.4 | 3.2 |
Accrued liabilities | 200.9 | 302.4 |
Other long-term liabilities | 79.3 | 75.9 |
Derivative Liability, Fair Value, Amount Not Offset Against Collateral | 4.7 | 6.9 |
Metal [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Prepaid expenses and other current assets | 1 | 2.8 |
Other long-term assets | 0 | 0.4 |
Accrued liabilities | 1.7 | 5.8 |
Other long-term liabilities | 3 | 0.5 |
Natural Gas [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Prepaid expenses and other current assets | 0.4 | 0 |
Accrued liabilities | $0 | $0.60 |
Schedule_of_Realized_Gains_and
(Schedule of Realized (Gains) and Losses on Derivatives) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Metal [Member] | ' | ' | ' |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' |
Realized (Gains) and Losses on Derivative Financial Instruments | ($26.30) | $5 | ($41.90) |
Natural Gas [Member] | ' | ' | ' |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' |
Realized (Gains) and Losses on Derivative Financial Instruments | 0.6 | 6.4 | 3.8 |
Currency Swap [Member] | ' | ' | ' |
Derivative Instruments, (Gain) Loss [Line Items] | ' | ' | ' |
Realized (Gains) and Losses on Derivative Financial Instruments | $0 | $1.60 | $0.30 |
Schedule_of_Fair_Value_for_Ass
(Schedule of Fair Value for Assets and Liabilities Measured on Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | $13.70 | $15.70 |
Derivative liabilities | -17 | -19.4 |
Metal [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 13.3 | 15.7 |
Derivative liabilities | -17 | -18.8 |
Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 60.1 | 592.9 |
Lines of Credit, Fair Value Disclosure | 0 | 0 |
Convertible Debt, Fair Value Disclosures | 44.2 | 44.2 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 60.1 | 592.9 |
Lines of Credit, Fair Value Disclosure | 0 | 0 |
Convertible Debt, Fair Value Disclosures | 72.7 | 103.4 |
7 5/8% Senior Notes [Member] | Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 494.1 | 492.7 |
7 5/8% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 530 | 507.5 |
7 7/8% Senior Notes [Member] | Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 492.5 | 491.4 |
7 7/8% Senior Notes [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 531.3 | 502.5 |
Zhenjiang term loans [Member] | Reported Value Measurement [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 192.2 | 186.8 |
Zhenjiang term loans [Member] | Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 193.2 | 188.1 |
Estimate of Fair Value, Fair Value Disclosure [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 60.1 | 592.9 |
Convertible Debt, Fair Value Disclosures | 72.7 | 103.4 |
Debt Instrument, Fair Value Disclosure | 193.2 | 188.1 |
Estimate of Fair Value, Fair Value Disclosure [Member] | 7 5/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 530 | 507.5 |
Estimate of Fair Value, Fair Value Disclosure [Member] | 7 7/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 531.3 | 502.5 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 60.1 | 592.9 |
Convertible Debt, Fair Value Disclosures | 0 | 0 |
Debt Instrument, Fair Value Disclosure | ' | 0 |
Fair Value, Inputs, Level 1 [Member] | 7 5/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 530 | 507.5 |
Fair Value, Inputs, Level 1 [Member] | 7 7/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 531.3 | 502.5 |
Fair Value, Inputs, Level 1 [Member] | Zhenjiang term loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 0 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Convertible Debt, Fair Value Disclosures | 0 | 0 |
Debt Instrument, Fair Value Disclosure | ' | 0 |
Fair Value, Inputs, Level 2 [Member] | 7 5/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | 7 7/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Zhenjiang term loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 0 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash and Cash Equivalents, Fair Value Disclosure | 0 | 0 |
Convertible Debt, Fair Value Disclosures | 72.7 | 103.4 |
Debt Instrument, Fair Value Disclosure | ' | 188.1 |
Fair Value, Inputs, Level 3 [Member] | 7 5/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | 7 7/8% Senior Notes [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Notes Payable, Fair Value Disclosure | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Zhenjiang term loans [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 193.2 | ' |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 13.7 | 15.7 |
Derivative liabilities | -17 | -19.4 |
Net derivative assets | -3.3 | -3.7 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative liabilities | 0 | 0 |
Net derivative assets | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 13.7 | 15.7 |
Derivative liabilities | -17 | -19.4 |
Net derivative assets | -3.3 | -3.7 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative Asset, Fair Value, Gross Asset | 0 | 0 |
Derivative liabilities | 0 | 0 |
Net derivative assets | $0 | $0 |
Income_Taxes_Narratives_Detail
Income Taxes (Narratives) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax Note [Line Items] | ' | ' | ' | ' |
Net Operating Loss, Tax Effect Excluded from Income Tax Reconciliation, Foreign | $134.40 | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | 533.9 | 502.8 | 364.6 | 399.4 |
net operating losses and future tax deductions for depreciation in non-US tax jurisdictions | 398.6 | 384.6 | ' | ' |
U.S. federal effects of amortization, pension and postretirement benefits | 118.3 | 105.5 | ' | ' |
state effects of amortization, pension and postretirement benefits | 17 | 12.7 | ' | ' |
Excess Tax Benefit from Share-based Compensation, Financing Activities | 4.8 | ' | ' | ' |
Undistributed Earnings of Foreign Subsidiaries | 22.5 | ' | ' | ' |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 0.2 | 3.5 | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0.3 | 1.5 | 1.3 | ' |
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | 0.3 | ' | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' |
Income Tax Note [Line Items] | ' | ' | ' | ' |
Operating Loss Carryforwards | 1,289.30 | ' | ' | ' |
Operating Loss Carryforward Indefinitely | 1,123.70 | ' | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' | ' |
Income Tax Note [Line Items] | ' | ' | ' | ' |
Operating Loss Carryforwards | 153.5 | ' | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' | ' |
Income Tax Note [Line Items] | ' | ' | ' | ' |
Operating Loss Carryforwards | 4.7 | 3.6 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $9 | ' | ' | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes Schedule of Income before Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Income Before Income Taxes [Line Items] | ' | ' | ' |
(Loss) income before income taxes | ($38.70) | $132.40 | $157 |
Domestic Tax Authority [Member] | ' | ' | ' |
Schedule of Income Before Income Taxes [Line Items] | ' | ' | ' |
(Loss) income before income taxes | -77.3 | 2.4 | 3.4 |
Foreign Tax Authority [Member] | ' | ' | ' |
Schedule of Income Before Income Taxes [Line Items] | ' | ' | ' |
(Loss) income before income taxes | $38.60 | $130 | $153.60 |
Income_Taxes_Schedule_of_Provi
Income Taxes Schedule of Provision for Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current Federal Tax Expense (Benefit) | ($0.10) | ($1.30) | $2.50 |
Current State and Local Tax Expense (Benefit) | -0.2 | 0.3 | 1.2 |
Current Foreign Tax Expense (Benefit) | 11.4 | 16 | 25.7 |
Current Income Tax Expense (Benefit) | 11.1 | 15 | 29.4 |
Deferred Federal Income Tax Expense (Benefit) | 0.4 | -1.1 | 0.4 |
Deferred State and Local Income Tax Expense (Benefit) | 0 | 0 | -0.2 |
Deferred Foreign Income Tax Expense (Benefit) | -14.1 | 11.5 | -33.8 |
(Benefit from) provision for deferred income taxes | -13.7 | 10.4 | -33.6 |
(Benefit from) provision for income taxes | ($2.60) | $25.40 | ($4.20) |
Income_Taxes_Reconciliation_of
Income Taxes Reconciliation of Income Taxes at Statutory Rate and Provision Recognized (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | ($13.50) | $46.40 | $55 |
Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential | -18.2 | -19.1 | -53.4 |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes | -4.4 | -1.3 | 0.9 |
Effective Income Tax Rate Reconciliation, Permanent Differences, Amount | 2.3 | -0.6 | 0.6 |
Income Tax Reconciliation, Tax Contingencies, Foreign | -3.8 | 7.1 | 19 |
Income Tax Reconciliation, Foreign Intercompany Debt Revaluation | 0 | 0 | 6.1 |
Income Tax Reconciliation, Tax Contingencies | 1.6 | 0.4 | 6.3 |
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | 33 | -8 | -37.8 |
Income Tax Reconciliation, Other Adjustments | 0.4 | 0.5 | -0.9 |
(Benefit from) provision for income taxes | ($2.60) | $25.40 | ($4.20) |
Income_Taxes_Schedule_of_Defer
Income Taxes Schedule of Deferred Income Taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Schedule of Deferred Income Tax Liabilities and Assets [Line Items] | ' | ' | ' | ' |
Deferred Tax Liabilities, Property, Plant and Equipment | $45.80 | $37.20 | ' | ' |
Deferred Tax Liabilities, Other | 11.9 | 11.6 | ' | ' |
Deferred Tax Liabilities, Gross | 57.7 | 48.8 | ' | ' |
Deferred Tax Assets, Operating Loss Carryforwards | 437.9 | 356.2 | ' | ' |
Deferred Tax Assets, Property, Plant and Equipment | 81.1 | 95.5 | ' | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Pensions | 38.2 | 51.5 | ' | ' |
Deferred Tax Assets, Other | 78.4 | 77.3 | ' | ' |
Deferred Tax Assets, Gross | 635.6 | 580.5 | ' | ' |
Deferred Tax Assets, Valuation Allowance | 533.9 | 502.8 | 364.6 | 399.4 |
Deferred Tax Assets, Net of Valuation Allowance | 101.7 | 77.7 | ' | ' |
Deferred Tax Assets, Net | $44 | $28.90 | ' | ' |
Income_Taxes_Deferred_Tax_Asse
Income Taxes Deferred Tax Asset Valuation Allowance (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Deferred Tax Assets, Valuation Allowance | $533.90 | $502.80 | $364.60 | $399.40 |
Valuation Allowances and Reserves, Period Increase (Decrease) | 33 | 126.4 | -37.8 | ' |
Valuation Allowance, Accumulated Other Comprehesive Income | -15.3 | 6.6 | 11 | ' |
Valuation Allowance, Foreign Currency Translation | $13.40 | $5.20 | ($8) | ' |
Income_Taxes_Unrecognized_Tax_
Income Taxes Unrecognized Tax Benefit (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits [Roll Forward] | ' | ' | ' |
Unrecognized Tax Benefits | $18.50 | $17.60 | $12.50 |
Unrecognized Tax Benefits, Increases Resulting from Current Period Tax Positions | 0 | 2.1 | 0 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 2.2 | 0.4 | 8.9 |
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions | -0.2 | -0.5 | -2.7 |
Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities | -17.7 | -1.1 | -1.1 |
Unrecognized Tax Benefits | $2.80 | $18.50 | $17.60 |
Commitments_And_Contingencies_2
Commitments And Contingencies Narratives (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
States | ||||
Foreign_Countries | ||||
Site | ||||
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Operating Leases, Rent Expense | $14.90 | $16 | $18.50 | ' |
Collective-Bargaining Arrangment, Percentage of US Participants | 46.00% | ' | ' | ' |
Collective-Bargaining Arrangment, Percentage of non-U.S. Participants | 'substantially all | ' | ' | ' |
Site Contingency, Number of Superfund Sites with Operation and Maintenance | 2 | ' | ' | ' |
Number of States in which Entity Performs Environmental Remediations | 4 | ' | ' | ' |
Number of Foreign Countries with Environmental Remediation | 1 | ' | ' | ' |
Number of Sites with Environmental Remediation | 7 | ' | ' | ' |
Accrual for Environmental Loss Contingencies | 35.3 | 34.2 | 36.5 | 36.2 |
Accrual for Environmental Loss Contingencies, Amount Indemnified by Third Party | 6.3 | 6.5 | ' | ' |
Asset Retirement Obligation, Description, Estimated Timeframe of Disbursements | '10 years | ' | ' | ' |
Other Long-Term Liabilities and Accrued Liabilities [Member] | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' |
Accrual for Environmental Loss Contingencies | $35.30 | $34.20 | ' | ' |
Commitments_And_Contingencies_3
Commitments And Contingencies Operating Lease Minimum Payments (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $5.80 |
Operating Leases, Future Minimum Payments, Due in Two Years | 5.5 |
Operating Leases, Future Minimum Payments, Due in Three Years | 3.7 |
Operating Leases, Future Minimum Payments, Due in Four Years | 1.7 |
Operating Leases, Future Minimum Payments, Due in Five Years | 0.9 |
Operating Leases, Future Minimum Payments, Due Thereafter | $0 |
Commitments_And_Contingencies_4
Commitments And Contingencies Purchase Obligations (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Purchase Obligation, Due in Next Twelve Months | $147.30 |
Purchase Obligation, Due in Second Year | 72.2 |
Purchase Obligation, Due in Third Year | 38.6 |
Purchase Obligation, Due in Fourth Year | 8.1 |
Purchase Obligation, Due in Fifth Year | 0.2 |
Purchase Obligation, Due after Fifth Year | $0 |
Commitments_And_Contingencies_5
Commitments And Contingencies Environmental Liabilities (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accrual for Environmental Loss Contingencies [Roll Forward] | ' | ' | ' |
Accrual for Environmental Loss Contingencies | $34.20 | $36.50 | $36.20 |
Accrual for Environmental Loss Contingencies, Increase (Decrease) for Revision in Estimates | 1.1 | -1.8 | 0.7 |
Accrual for Environmental Loss Contingencies, Payments | -1.7 | -0.6 | -0.2 |
Accrual for Environmental Loss Contingencies, Increase (Decrease) for Currency Translation | 1.7 | 0.1 | -0.2 |
Accrual for Environmental Loss Contingencies | $35.30 | $34.20 | $36.50 |
Segment_Information_Narratives
Segment Information (Narratives) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Operating_Segment | |
Segment Reporting [Abstract] | ' |
Number of Reportable Segments | 6 |
Segment_Information_Schedule_o
Segment Information Schedule of Revenues and Segment Income (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | $4,332.50 | $4,412.40 | $4,826.40 |
Segment income | 293.7 | 351.6 | 395.8 |
Assets | 2,472.90 | 2,918.20 | ' |
Payments for property, plant and equipment | -238.3 | -390.2 | -204.6 |
RPNA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,194.80 | 1,299.70 | 1,346.40 |
Segment income | 81.8 | 117.6 | 111.1 |
Assets | 524.7 | 566 | ' |
Payments for property, plant and equipment | -44.1 | -54 | -35.1 |
RPEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,443.20 | 1,324.90 | 1,541.60 |
Segment income | 132.1 | 144.6 | 157.6 |
Assets | 699.2 | 681.3 | ' |
Payments for property, plant and equipment | -41 | -62.8 | -19.3 |
RPAP [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 20.7 | 0 | 0 |
Segment income | -0.2 | 0 | 0 |
Assets | 439.4 | 351.4 | ' |
Payments for property, plant and equipment | -92.5 | ' | -79.7 |
Extrusions [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 355.2 | 357.4 | 410.3 |
Segment income | 11.7 | 16.4 | 10.9 |
Assets | 141.8 | 133.1 | ' |
Payments for property, plant and equipment | -12.6 | -17 | -12.7 |
RSAA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 938.4 | 947.6 | 983.8 |
Segment income | 54 | 53.6 | 80.9 |
Assets | 294.5 | 287.6 | ' |
Payments for property, plant and equipment | -23.4 | -46.4 | -34.1 |
RSEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 561.1 | 601.9 | 685.1 |
Segment income | 14.3 | 19.4 | 35.3 |
Assets | 183.7 | 175.3 | ' |
Payments for property, plant and equipment | -14 | -11.4 | -15.8 |
External Customers [Member] | RPNA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,192.60 | 1,297.60 | 1,344.60 |
External Customers [Member] | RPEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 1,317.70 | 1,254.60 | 1,460.10 |
External Customers [Member] | RPAP [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 10.5 | 0 | 0 |
Payments for property, plant and equipment | ' | -173.8 | ' |
External Customers [Member] | Extrusions [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 347 | 349.1 | 398.7 |
External Customers [Member] | RSAA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 932.1 | 940.3 | 978.6 |
External Customers [Member] | RSEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 532.6 | 570.8 | 644.4 |
Intersegment Eliminations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 0 | 0 | 0 |
Intersegment Eliminations [Member] | RPNA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 2.2 | 2.1 | 1.8 |
Intersegment Eliminations [Member] | RPEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 125.5 | 70.3 | 81.5 |
Intersegment Eliminations [Member] | RPAP [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 10.2 | 0 | 0 |
Intersegment Eliminations [Member] | Extrusions [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 8.2 | 8.3 | 11.6 |
Intersegment Eliminations [Member] | RSAA [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 6.3 | 7.3 | 5.2 |
Intersegment Eliminations [Member] | RSEU [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | 28.5 | 31.1 | 40.7 |
Intersegment Eliminations [Member] | Intersegment Eliminations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Revenues | ($180.90) | ($119.10) | ($140.80) |
Segment_Information_Reconcilia
Segment Information Reconciliation of Reportable Segments to Consolidated Financials (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Segment income | $293.70 | $351.60 | $395.80 |
Depreciation and amortization | -129.5 | -84.8 | -70.3 |
Restructuring charges | -10.7 | -9.6 | -4.4 |
Interest expense, net | 97.9 | 52.4 | 46.3 |
Gains on derivative financial instruments | -26.4 | -1.3 | 0 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | -38.7 | 132.4 | 157 |
Payments for property, plant and equipment | -238.3 | -390.2 | -204.6 |
Assets | 2,472.90 | 2,918.20 | ' |
Unallocated Amount to Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Depreciation and amortization | -129.5 | -84.8 | 70.3 |
Corporate general and administrative expense, excluding depreciation, amortization and start-up expenses | -50.8 | -56.3 | 60.8 |
Restructuring charges | -10.7 | -9.6 | -4.4 |
Interest expense, net | -97.9 | -52.4 | 46.3 |
Gains on derivative financial instruments | -0.6 | -13.9 | 37.9 |
Unallocated currency exchange (loss) gains | 4.6 | -0.2 | 1.2 |
Start-Up expenses | -35.8 | -28.1 | 10.2 |
Other expense, net | -3.7 | -2.1 | 7.7 |
Payments for property, plant and equipment | -10.7 | -24.8 | -7.9 |
Assets | 189.6 | 723.5 | ' |
Operating Segments [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Payments for property, plant and equipment | -227.6 | -365.4 | -196.7 |
Assets | $2,283.30 | $2,194.70 | ' |
Segment_Information_Revenue_by
Segment Information Revenue by Geography (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | $4,332.50 | $4,412.40 | $4,826.40 |
United States [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | 1,970.10 | 2,077.30 | 2,154.20 |
Asia [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | 162.9 | 185.1 | 181.4 |
Europe [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | 1,864.60 | 1,822.60 | 2,160.10 |
Mexico, Canada and South America [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | 329.3 | 320.7 | 291.9 |
Other Countries [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | 5.6 | 6.7 | 38.8 |
International [Member] | ' | ' | ' |
Revenue By Geography [Line Items] | ' | ' | ' |
Revenues | $2,362.40 | $2,335.10 | $2,672.20 |
Segment_Information_LongLived_
Segment Information Long-Lived Assets by Geography (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | $1,157.70 | $1,077 |
United States Dollars [Member] | ' | ' |
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 380.2 | 377 |
Asia [Member] | ' | ' |
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 372.9 | 329.7 |
Europe [Member] | ' | ' |
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 384.4 | 350.5 |
Mexico, Canada and South America [Member] | ' | ' |
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | 20.2 | 19.8 |
International [Member] | ' | ' |
Property Plant and Equipment by Geography [Line Items] | ' | ' |
Property, Plant and Equipment, Net | $777.50 | $700 |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share Earnings Per Share (Details) (USD $) | 12 Months Ended | 15 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Redeemable Preferred Stock [Member] | Redeemable Preferred Stock [Member] | Redeemable Preferred Stock [Member] | Senior Subordinated Exchangeable Notes [Member] | Senior Subordinated Exchangeable Notes [Member] | Senior Subordinated Exchangeable Notes [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | ||||
Schedule of Earnings Per Share, Basic and Diluted, Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income attributable to Aleris Corporation | ($37.10) | $107.50 | $161.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($37.10) | $107.50 | $161.60 |
Preferred Stock Dividends and Other Adjustments | -0.4 | -0.4 | -0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock Dividends, Income Statement Impact | 0 | 0.4 | 0.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings Allocated to Participating Securities | 0 | -0.6 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
undistributed earnings reallocated to participating securities | 0 | -0.5 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Temporary Equity, Accretion to Redemption Value, Adjustment | 0 | -4.7 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net (loss) income available to common stockholders | -37.5 | 101.8 | 161.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest on Exchangleable Notes | 0 | 2.8 | 1.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income (Loss) Available to Common Stockholders, Diluted | ($37.50) | $105.10 | $163.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Shares of Common Stock Outstanding | 31,178,616 | 31,100,000 | 31,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Number Diluted Shares Outstanding Adjustment | ' | ' | ' | 0 | 700,000 | 600,000 | 0 | 100,000 | 0 | 0 | 200,000 | 100,000 | 0 | 2,100,000 | 1,500,000 | ' | ' | ' |
Weighted Average Number of Shares Outstanding, Diluted | 31,200,000 | 34,100,000 | 33,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic (loss) earnings per share | ($1.20) | $3.28 | $5.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted (loss) earnings per share | ($1.20) | $3.08 | $4.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Per_Share_Antidilutiv
Earnings Per Share Anti-dilutive table (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3.3 | 0.2 | 0.1 |
Antidilutive Securities Excluded from Computation of Net Income, Per Outstanding Unit, Amount | $24.34 | $47.71 | $46.99 |
Restricted Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.2 | 0.2 | 0 |
Antidilutive Securities Excluded from Computation of Earnings Weighted Average Grant Date Fair Values | $35.54 | $33.47 | $50.30 |
Redeemable Preferred Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Number of Share, Contingently Issuable | 0.2 | 0 | 0 |
Exchangeable Debt [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Number of Share, Contingently Issuable | 2.1 | 0 | 0 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) Schedule of Accumulated Other Comprehesive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ($62.40) | ($29) | $26.70 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 31.5 | 9.7 | -18.7 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | -41.9 | ' | 39.5 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | ' | ' | -0.9 |
Defined Benefit Plan, Amortization of Net Gains (Losses) | 4 | 0.7 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized (Gain) Loss Arising During Period, Tax | -1.2 | 11.9 | 3.4 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 13.8 | -62.4 | -29 |
Other comprehensive income (loss), before tax, pension and other postretirement liability adjustments | -4 | ' | ' |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax | 1.2 | ' | ' |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | -2.8 | ' | ' |
Foreign Currency Gain (Loss) [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 12.6 | 1.8 | 21 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | 33.2 | 10.8 | -19.2 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 0 | 0 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | ' | ' | 0 |
Defined Benefit Plan, Amortization of Net Gains (Losses) | 0 | 0 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized (Gain) Loss Arising During Period, Tax | 0 | 0 | 0 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 45.8 | 12.6 | 1.8 |
Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -75 | -30.8 | 5.7 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -1.7 | -1.1 | 0.5 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 41.9 | ' | 39.5 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, Net of Tax | ' | ' | -0.9 |
Defined Benefit Plan, Amortization of Net Gains (Losses) | 4 | 0.7 | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized (Gain) Loss Arising During Period, Tax | -1.2 | 11.9 | 3.4 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -32 | -75 | -30.8 |
Actuarial gains losses [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | ' | 55.7 | ' |
Actuarial gains losses [Member] | Pension Plans, Defined Benefit [Member] | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | ' | $55.70 | ' |
Supplemental_Information_Detai
Supplemental Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Information [Abstract] | ' | ' | ' |
Interest Paid | $99.50 | $51.20 | $28.30 |
Income Taxes Paid, Net | 37.2 | 8.6 | 14.9 |
Other Noncash Income (Expense) | $6.60 | $2 | $3.30 |
Stockholders_Equity_and_Redeem2
Stockholder's Equity and Redeemable Preferred Stock (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 02, 2010 | Jun. 02, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Convertible Preferred Stock [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Employee [Member] | Employee [Member] | Shares issued for option exercises [Member] | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Outstanding | 31,097,272 | ' | 31,031,871 | 30,969,440 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,843 | 3,842 | 69,794 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | ' | ' | ' | ' | ' | ' | 51,698 | 56,558 | 58,589 | ' | ' | ' |
Common Stock, Shares, Outstanding | 31,229,064 | ' | 31,031,871 | 30,969,440 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 10,300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Outstanding | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' |
Temporary Equity, Par or Stated Value Per Share | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 8.00% | ' | ' | ' | ' | ' | ' |
Redeemable noncontrolling interest | $5,700,000 | $5,700,000 | ' | ' | $5,000,000 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Ratio | $18.45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Statements (Condensed Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jun. 02, 2010 |
In Millions, unless otherwise specified | |||||
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | $60.10 | $592.90 | $231.40 | $113.50 | ' |
Accounts receivable, net | 376.9 | 384 | ' | ' | ' |
Inventories | 683.4 | 683.4 | ' | ' | ' |
Deferred income taxes | 7.1 | 12.9 | ' | ' | ' |
Prepaid expenses and other current assets | 31.5 | 26.3 | ' | ' | ' |
Due from Affiliate, Current | 0 | 0 | ' | ' | ' |
Total Current Assets | 1,159 | 1,699.50 | ' | ' | ' |
Property, plant and equipment, net | 1,157.70 | 1,077 | ' | ' | ' |
Intangible assets, net | 43.5 | 45.6 | ' | ' | ' |
Deferred income taxes | 45.2 | 36.8 | ' | ' | ' |
Other long-term assets | 67.5 | 59.3 | ' | ' | ' |
Due from Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Equity Method Investments | 0 | 0 | ' | ' | ' |
Total Assets | 2,472.90 | 2,918.20 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | 303.2 | 341.2 | ' | ' | ' |
Accrued liabilities | 200.9 | 302.4 | ' | ' | ' |
Deferred income taxes | 3.9 | 12 | ' | ' | ' |
Current portion of long-term debt | 8.3 | 9 | ' | ' | ' |
Due to Affiliate, Current | 0 | 0 | ' | ' | ' |
Total Current Liabilities | 516.3 | 664.6 | ' | ' | ' |
Long-term debt | 1,229.10 | 1,218.90 | ' | ' | ' |
Deferred income taxes | 4.4 | 8.8 | ' | ' | ' |
Accrued pension benefits | 228.5 | 258.2 | ' | ' | ' |
Accrued postretirement benefits | 40.9 | 52 | ' | ' | ' |
Other long-term liabilities | 79.3 | 75.9 | ' | ' | ' |
Due to Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Total Long-Term Liabilities | 1,582.20 | 1,613.80 | ' | ' | ' |
Redeemable noncontrolling interest | 5.7 | 5.7 | ' | ' | 5 |
Total Aleris Corporation Equity | 368.4 | 633.9 | ' | ' | ' |
Noncontrolling interest | 0.3 | 0.2 | ' | ' | ' |
Total Liabilities and Equity | 2,472.90 | 2,918.20 | ' | ' | ' |
Aleris Corporation (Parent) [Member] | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 | ' |
Accounts receivable, net | 0 | 0 | ' | ' | ' |
Inventories | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0 | 0 | ' | ' | ' |
Due from Affiliate, Current | 0 | 0 | ' | ' | ' |
Total Current Assets | 0 | 0 | ' | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other long-term assets | 0 | 0 | ' | ' | ' |
Due from Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Equity Method Investments | 371.8 | 634.5 | ' | ' | ' |
Total Assets | 371.8 | 634.5 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | 0 | 0 | ' | ' | ' |
Accrued liabilities | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' | ' |
Due to Affiliate, Current | 0 | 0 | ' | ' | ' |
Total Current Liabilities | 0 | 0 | ' | ' | ' |
Long-term debt | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Accrued pension benefits | 0 | 0 | ' | ' | ' |
Accrued postretirement benefits | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' | ' |
Due to Affiliate, Noncurrent | 3.4 | 0.6 | ' | ' | ' |
Total Long-Term Liabilities | 3.4 | 0.6 | ' | ' | ' |
Redeemable noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Aleris Corporation Equity | 368.4 | 633.9 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Liabilities and Equity | 371.8 | 634.5 | ' | ' | ' |
Guarantors [Member] | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 | ' |
Accounts receivable, net | 125.7 | 149.3 | ' | ' | ' |
Inventories | 245.1 | 259.4 | ' | ' | ' |
Deferred income taxes | 0.2 | 3.9 | ' | ' | ' |
Prepaid expenses and other current assets | 16.1 | 12.9 | ' | ' | ' |
Due from Affiliate, Current | 378.3 | 599.8 | ' | ' | ' |
Total Current Assets | 765.4 | 1,025.30 | ' | ' | ' |
Property, plant and equipment, net | 377.8 | 375.4 | ' | ' | ' |
Intangible assets, net | 27.6 | 29.7 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other long-term assets | 3.3 | 2.6 | ' | ' | ' |
Due from Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Equity Method Investments | 117.7 | 111 | ' | ' | ' |
Total Assets | 1,291.80 | 1,544 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | 117.1 | 122.1 | ' | ' | ' |
Accrued liabilities | 67 | 67.6 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Current portion of long-term debt | 0.5 | 0 | ' | ' | ' |
Due to Affiliate, Current | 371.7 | 482.3 | ' | ' | ' |
Total Current Liabilities | 556.3 | 672 | ' | ' | ' |
Long-term debt | 0.8 | 0 | ' | ' | ' |
Deferred income taxes | 0.2 | 3.9 | ' | ' | ' |
Accrued pension benefits | 33.8 | 71.8 | ' | ' | ' |
Accrued postretirement benefits | 40.9 | 52 | ' | ' | ' |
Other long-term liabilities | 32.7 | 31.5 | ' | ' | ' |
Due to Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Total Long-Term Liabilities | 108.4 | 159.2 | ' | ' | ' |
Redeemable noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Aleris Corporation Equity | 627.1 | 712.8 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Liabilities and Equity | 1,291.80 | 1,544 | ' | ' | ' |
Non-Guarantors [Member] | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 58.9 | 121.6 | 165.7 | 75.6 | ' |
Accounts receivable, net | 251.2 | 233.2 | ' | ' | ' |
Inventories | 438.3 | 424 | ' | ' | ' |
Deferred income taxes | 6.9 | 9 | ' | ' | ' |
Prepaid expenses and other current assets | 14.9 | 13.3 | ' | ' | ' |
Due from Affiliate, Current | 192.4 | 202.9 | ' | ' | ' |
Total Current Assets | 962.6 | 1,004 | ' | ' | ' |
Property, plant and equipment, net | 779.9 | 701.6 | ' | ' | ' |
Intangible assets, net | 15.9 | 15.9 | ' | ' | ' |
Deferred income taxes | 45.2 | 36.8 | ' | ' | ' |
Other long-term assets | 51.9 | 42.4 | ' | ' | ' |
Due from Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Equity Method Investments | 0 | 0 | ' | ' | ' |
Total Assets | 1,855.50 | 1,800.70 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | 188.2 | 216.8 | ' | ' | ' |
Accrued liabilities | 112.2 | 211.1 | ' | ' | ' |
Deferred income taxes | 3.9 | 12 | ' | ' | ' |
Current portion of long-term debt | 7.8 | 9 | ' | ' | ' |
Due to Affiliate, Current | 99 | 117.1 | ' | ' | ' |
Total Current Liabilities | 411.1 | 566 | ' | ' | ' |
Long-term debt | 197.4 | 190.5 | ' | ' | ' |
Deferred income taxes | 4.2 | 4.9 | ' | ' | ' |
Accrued pension benefits | 194.7 | 186.4 | ' | ' | ' |
Accrued postretirement benefits | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 46.6 | 44.4 | ' | ' | ' |
Due to Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Total Long-Term Liabilities | 442.9 | 426.2 | ' | ' | ' |
Redeemable noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Aleris Corporation Equity | 1,001.20 | 808.3 | ' | ' | ' |
Noncontrolling interest | 0.3 | 0.2 | ' | ' | ' |
Total Liabilities and Equity | 1,855.50 | 1,800.70 | ' | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | -2.5 | -1.1 | -1.4 | 0 | ' |
Accounts receivable, net | 0 | 0 | ' | ' | ' |
Inventories | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0 | 0 | ' | ' | ' |
Due from Affiliate, Current | -933.1 | -1,224.60 | ' | ' | ' |
Total Current Assets | -935.6 | -1,225.70 | ' | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other long-term assets | 0 | 0 | ' | ' | ' |
Due from Affiliate, Noncurrent | -3.4 | -0.6 | ' | ' | ' |
Equity Method Investments | -2,000.10 | -2,155.60 | ' | ' | ' |
Total Assets | -2,939.10 | -3,381.90 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | -2.5 | -1.1 | ' | ' | ' |
Accrued liabilities | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' | ' |
Due to Affiliate, Current | -933.1 | -1,224.60 | ' | ' | ' |
Total Current Liabilities | -935.6 | -1,225.70 | ' | ' | ' |
Long-term debt | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Accrued pension benefits | 0 | 0 | ' | ' | ' |
Accrued postretirement benefits | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' | ' |
Due to Affiliate, Noncurrent | -3.4 | -0.6 | ' | ' | ' |
Total Long-Term Liabilities | -3.4 | -0.6 | ' | ' | ' |
Redeemable noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Aleris Corporation Equity | -2,000.10 | -2,155.60 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Liabilities and Equity | -2,939.10 | -3,381.90 | ' | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' | ' |
Current Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 3.7 | 472.4 | 67.1 | 37.9 | ' |
Accounts receivable, net | 0 | 1.5 | ' | ' | ' |
Inventories | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Prepaid expenses and other current assets | 0.5 | 0.1 | ' | ' | ' |
Due from Affiliate, Current | 362.4 | 421.9 | ' | ' | ' |
Total Current Assets | 366.6 | 895.9 | ' | ' | ' |
Property, plant and equipment, net | 0 | 0 | ' | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Other long-term assets | 12.3 | 14.3 | ' | ' | ' |
Due from Affiliate, Noncurrent | 3.4 | 0.6 | ' | ' | ' |
Equity Method Investments | 1,510.60 | 1,410.10 | ' | ' | ' |
Total Assets | 1,892.90 | 2,320.90 | ' | ' | ' |
Current Liabilities | ' | ' | ' | ' | ' |
Accounts payable | 0.4 | 3.4 | ' | ' | ' |
Accrued liabilities | 21.7 | 23.7 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' | ' |
Due to Affiliate, Current | 462.4 | 625.2 | ' | ' | ' |
Total Current Liabilities | 484.5 | 652.3 | ' | ' | ' |
Long-term debt | 1,030.90 | 1,028.40 | ' | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' | ' |
Accrued pension benefits | 0 | 0 | ' | ' | ' |
Accrued postretirement benefits | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' | ' |
Due to Affiliate, Noncurrent | 0 | 0 | ' | ' | ' |
Total Long-Term Liabilities | 1,030.90 | 1,028.40 | ' | ' | ' |
Redeemable noncontrolling interest | 5.7 | 5.7 | ' | ' | ' |
Total Aleris Corporation Equity | 371.8 | 634.5 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total Liabilities and Equity | $1,892.90 | $2,320.90 | ' | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Statements (Condensed Income Statement) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | $4,332.50 | $4,412.40 | $4,826.40 |
Cost of sales | 4,042.70 | 3,947.20 | 4,354.30 |
Gross profit | 289.8 | 465.2 | 472.1 |
Selling, general and administrative expenses | 238.1 | 269 | 274.3 |
Restructuring charges | 10.7 | 9.6 | 4.4 |
Gains on derivative financial instruments | -26.4 | -1.3 | 0 |
Other operating expense (income), net | 1.2 | 1.1 | -2.4 |
Operating income | 66.2 | 186.8 | 195.8 |
Interest expense, net | 97.9 | 52.4 | 46.3 |
Other expense (income), net | 7 | 2 | -7.5 |
Equity in net earnings of affiliates | 0 | 0 | 0 |
(Loss) income before income taxes | -38.7 | 132.4 | 157 |
(Benefit from) provision for income taxes | -2.6 | 25.4 | -4.2 |
Net (loss) income | -36.1 | 107 | 161.2 |
Net income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.4 |
Net (loss) income attributable to Aleris Corporation | -37.1 | 107.5 | 161.6 |
Comprehensive income (loss) | 40.1 | 73.6 | 105.7 |
Comprehensive income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.2 |
Comprehensive income (loss) attributable to Aleris Corporation | 39.1 | 74.1 | 105.9 |
Aleris International, Inc. (Parent) [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Selling, general and administrative expenses | 0.2 | 0.4 | 0.1 |
Restructuring charges | 0 | 0 | 0 |
Gains on derivative financial instruments | 0 | 0 | 0 |
Other operating expense (income), net | 0 | 0 | 0 |
Operating income | -0.2 | -0.4 | -0.1 |
Interest expense, net | 0 | 0 | 0 |
Other expense (income), net | 0 | 0 | -0.2 |
Equity in net earnings of affiliates | 36.9 | -107.9 | -161.5 |
(Loss) income before income taxes | -37.1 | 107.5 | 161.6 |
(Benefit from) provision for income taxes | 0 | 0 | 0 |
Net (loss) income | -37.1 | 107.5 | 161.6 |
Net income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Net (loss) income attributable to Aleris Corporation | -37.1 | 107.5 | 161.6 |
Comprehensive income (loss) | 39.1 | 74.1 | 105.9 |
Comprehensive income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Aleris Corporation | 39.1 | 74.1 | 105.9 |
Guarantors [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | 1,938.30 | 2,050.30 | 2,122.20 |
Cost of sales | 1,839.30 | 1,878.10 | 1,949.30 |
Gross profit | 99 | 172.2 | 172.9 |
Selling, general and administrative expenses | 108.7 | 121 | 114.4 |
Restructuring charges | 3 | 2.2 | 0.6 |
Gains on derivative financial instruments | -18.2 | 3.8 | -5.2 |
Other operating expense (income), net | 1.8 | 1.3 | 1.9 |
Operating income | 3.7 | 43.9 | 61.2 |
Interest expense, net | 88.9 | 51.5 | 40.1 |
Other expense (income), net | -3.8 | -5.2 | -7.6 |
Equity in net earnings of affiliates | -1.1 | -2.3 | -7.2 |
(Loss) income before income taxes | -80.3 | -0.1 | 35.9 |
(Benefit from) provision for income taxes | -0.3 | -2.9 | 3.5 |
Net (loss) income | -80 | 2.8 | 32.4 |
Net income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Net (loss) income attributable to Aleris Corporation | -80 | 2.8 | 32.4 |
Comprehensive income (loss) | -41 | -15.6 | 2.2 |
Comprehensive income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Aleris Corporation | -41 | -15.6 | 2.2 |
Non-Guarantors [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | 2,403.70 | 2,371.20 | 2,714.70 |
Cost of sales | 2,212.90 | 2,078.20 | 2,415.50 |
Gross profit | 190.8 | 293 | 299.2 |
Selling, general and administrative expenses | 129.2 | 147.6 | 159.8 |
Restructuring charges | 7.7 | 7.4 | 3.8 |
Gains on derivative financial instruments | -8.2 | -5.1 | 5.2 |
Other operating expense (income), net | -0.6 | -0.2 | -4.3 |
Operating income | 62.7 | 143.3 | 134.7 |
Interest expense, net | 9 | 0.9 | 6.2 |
Other expense (income), net | 10.8 | 7.2 | 0.3 |
Equity in net earnings of affiliates | 0 | 0 | 0 |
(Loss) income before income taxes | 42.9 | 135.2 | 128.2 |
(Benefit from) provision for income taxes | -2.3 | 28.3 | -7.7 |
Net (loss) income | 45.2 | 106.9 | 135.9 |
Net income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.4 |
Net (loss) income attributable to Aleris Corporation | 44.2 | 107.4 | 136.3 |
Comprehensive income (loss) | 80.3 | 91.8 | 111.9 |
Comprehensive income (loss) attributable to noncontrolling interest | 1 | -0.5 | -0.2 |
Comprehensive income (loss) attributable to Aleris Corporation | 79.3 | 92.3 | 112.1 |
Eliminations [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | -9.5 | -9.1 | -10.5 |
Cost of sales | -9.5 | -9.1 | -10.5 |
Gross profit | 0 | 0 | 0 |
Selling, general and administrative expenses | 0 | 0 | 0 |
Restructuring charges | 0 | 0 | 0 |
Gains on derivative financial instruments | 0 | 0 | 0 |
Other operating expense (income), net | 0 | 0 | 0 |
Operating income | 0 | 0 | 0 |
Interest expense, net | 0 | 0 | 0 |
Other expense (income), net | 0 | 0 | 0 |
Equity in net earnings of affiliates | -72.9 | 217.7 | 330.3 |
(Loss) income before income taxes | 72.9 | -217.7 | -330.3 |
(Benefit from) provision for income taxes | 0 | 0 | 0 |
Net (loss) income | 72.9 | -217.7 | -330.3 |
Net income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Net (loss) income attributable to Aleris Corporation | 72.9 | -217.7 | -330.3 |
Comprehensive income (loss) | -77.4 | -150.8 | -220.2 |
Comprehensive income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Aleris Corporation | -77.4 | -150.8 | -220.2 |
Parent Company [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Revenues | 0 | 0 | 0 |
Cost of sales | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 |
Selling, general and administrative expenses | 0 | 0 | 0 |
Restructuring charges | 0 | 0 | 0 |
Gains on derivative financial instruments | 0 | 0 | 0 |
Other operating expense (income), net | 0 | 0 | 0 |
Operating income | 0 | 0 | 0 |
Interest expense, net | 0 | 0 | 0 |
Other expense (income), net | 0 | 0 | 0 |
Equity in net earnings of affiliates | 37.1 | -107.5 | -161.6 |
(Loss) income before income taxes | -37.1 | 107.5 | 161.6 |
(Benefit from) provision for income taxes | 0 | 0 | 0 |
Net (loss) income | -37.1 | 107.5 | 161.6 |
Net income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Net (loss) income attributable to Aleris Corporation | -37.1 | 107.5 | 161.6 |
Comprehensive income (loss) | 39.1 | 74.1 | 105.9 |
Comprehensive income (loss) attributable to noncontrolling interest | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Aleris Corporation | $39.10 | $74.10 | $105.90 |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Statements (Condensed Cash Flow Statement) (Details) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | Aleris Corporation (Parent) [Member] | Aleris Corporation (Parent) [Member] | Aleris Corporation (Parent) [Member] | Subsidiary Issuer [Member] | Subsidiary Issuer [Member] | Subsidiary Issuer [Member] | Guarantors [Member] | Guarantors [Member] | Guarantors [Member] | Non-Guarantors [Member] | Non-Guarantors [Member] | Non-Guarantors [Member] | Eliminations [Member] | Eliminations [Member] | Eliminations [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 7/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | 7 5/8% Senior Notes [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Aleris Corporation (Parent) [Member] | Subsidiary Issuer [Member] | Guarantors [Member] | Non-Guarantors [Member] | Eliminations [Member] | USD ($) | USD ($) | USD ($) | Aleris Corporation (Parent) [Member] | Subsidiary Issuer [Member] | Guarantors [Member] | Non-Guarantors [Member] | Eliminations [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | Zhenjiang revolver [Member] | ||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CNY | CNY | CNY | Aleris Corporation (Parent) [Member] | Subsidiary Issuer [Member] | Guarantors [Member] | Non-Guarantors [Member] | Eliminations [Member] | |||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash (used) provided by operating activities | $31.90 | $152.50 | $266.90 | $132.10 | $1.50 | $212.80 | $66.20 | $32.10 | $102.40 | $119.60 | $84.60 | $73.30 | $13.50 | $36.10 | $95.40 | ($299.50) | ($1.80) | ($217) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for property, plant and equipment | -238.3 | -390.2 | -204.6 | 0 | 0 | 0 | 0 | 0 | 0 | -73.3 | -122.1 | -73.9 | -165 | -268.1 | -130.7 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from the sale of property, plant and equipment | 2.9 | 0.5 | 7.7 | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 7.7 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase of a business | 0 | -21.5 | 0 | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | -21.5 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from disposal of property, plant and equipment, net | 2.9 | 0.5 | ' | 0 | 0 | ' | 0 | 0 | ' | 0.9 | -0.3 | ' | 2 | 0.8 | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Advance to Affiliate | ' | 0 | 0 | 0 | 0 | 0 | 60 | 0 | 0 | 50.8 | 19.1 | 4.9 | 0 | 0 | 0 | ' | -19.1 | -4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Collection of Advance to Affiliate | 0 | 0 | 0 | 0 | 0 | 0 | 60 | 0 | 0 | 66 | 57.6 | 5.5 | 0.9 | 0.8 | 0 | -110.8 | -58.4 | -5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Collection of Long-term Loans to Related Parties | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -126.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net investment in subsidiaries | 0 | 0 | 0 | 0 | 0 | 0 | -510.7 | -116.2 | -61.7 | -16.8 | -5.9 | -13.7 | 0 | 0 | 0 | 527.5 | 122.1 | 75.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Equity Method Investment, Dividends or Distributions, Return of Capital | 0 | ' | 0 | 180.9 | ' | 287.2 | 292.6 | ' | 0 | 0 | ' | 0 | 0 | ' | 0 | -473.5 | ' | -287.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | 0 | 0.1 | -0.4 | ' | 0 | 0 | ' | 0 | 0 | ' | 0.1 | 0 | ' | 0 | -0.4 | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided (used) by investing activities | -235.4 | -411.1 | -197.3 | 180.9 | 0 | 287.2 | -218.1 | -116.2 | -61.7 | -74 | -89.7 | -87 | -162.1 | -288 | -123.4 | 37.9 | 82.8 | -212.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from ABL Facility | 30.3 | 0 | 0 | 0 | ' | ' | 10.3 | ' | ' | 0 | ' | ' | 20 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments on ABL Facility | -30.3 | 0 | 0 | 0 | ' | ' | -10.3 | ' | ' | 0 | ' | ' | -20 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Senior Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 491.3 | 0 | 0 | 491.3 | 0 | 0 | 0 | 0 | 0 | 490 | 0 | 490 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Zhenjiang term loans | 0.2 | 130.9 | 56.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.2 | 130.9 | 56.7 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Zhenjiang revolver | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.1 | 4.1 | 0 | 0 | 0 | 0 | 0 | 4.1 | 0 |
Payments on Zhenjiang revolver | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4.1 | -4.1 | 0 | 0 | 0 | 0 | 0 | -4.1 | 0 |
Net (payments on) proceeds from other long-term debt | -5.2 | -0.2 | 1.1 | 0 | 0 | ' | 0 | 0 | ' | 0 | 0 | ' | -5.2 | -0.2 | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Proceeds on Long-term Debt | ' | ' | 1.1 | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 1.1 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt issuance costs | 0 | -2.3 | -4.4 | ' | 0 | 0 | ' | -1.8 | -2.9 | ' | 0 | 0 | ' | -0.5 | -1.5 | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption of noncontrolling interest | -8.9 | 0 | 0 | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | -8.9 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from noncontrolling interests | 0 | 0 | 7.6 | ' | ' | 0 | ' | ' | 0 | ' | ' | 0 | ' | ' | 7.6 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends paid | -313 | 0 | -500 | -313 | 0 | -500 | -313 | 0 | -500 | -292.6 | 0 | 0 | -166 | -2.1 | -2.8 | 771.6 | 2.1 | 502.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from (Repayments of) Related Party Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -110.8 | -19.1 | -4.9 | 110.8 | 19.1 | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of Other Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0.9 | -0.8 | 0 | -126 | -57.6 | -5.5 | 126.9 | 58.4 | 5.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Contributions from Affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 247.9 | 5.9 | 13.7 | 279.6 | 116.2 | 61.7 | -527.5 | -122.1 | -75.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | -4.7 | -2.5 | 2.7 | 0 | -1.5 | 0 | -3.8 | -0.1 | 1.4 | 0 | 0 | 0 | -0.9 | -0.9 | 1.3 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash (used) provided by financing activities | -331.6 | 617.2 | 53.7 | -313 | -1.5 | -500 | -316.8 | 489.4 | -11.5 | -45.6 | 5.1 | 13.7 | 83.6 | 204.9 | 123.5 | 260.2 | -80.7 | 428 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of exchange rate differences on cash and cash equivalents | 2.3 | 2.9 | -5.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.3 | 2.9 | -5.4 | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net decrease in cash and cash equivalents | -532.8 | 361.5 | 117.9 | 0 | 0 | 0 | -468.7 | 405.3 | 29.2 | 0 | 0 | 0 | -62.7 | -44.1 | 90.1 | -1.4 | 0.3 | -1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents at beginning of period | 592.9 | 231.4 | 113.5 | 0 | 0 | 0 | 472.4 | 67.1 | 37.9 | 0 | 0 | 0 | 121.6 | 165.7 | 75.6 | -1.1 | -1.4 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents at end of period | $60.10 | $592.90 | $231.40 | $0 | $0 | $0 | $3.70 | $472.40 | $67.10 | $0 | $0 | $0 | $58.90 | $121.60 | $165.70 | ($2.50) | ($1.10) | ($1.40) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (Nichols Aluminum, LLC [Member], USD $) | Feb. 07, 2014 |
In Millions, unless otherwise specified | |
Nichols Aluminum, LLC [Member] | ' |
Business Combination, Separately Recognized Transactions [Line Items] | ' |
Business Acquisition, Transaction Costs | $110 |