Metallus (MTUS) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Oct. 15, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	TMST
Title of 12(b) Security	Common shares
Security Exchange Name	NYSE
Entity Registrant Name	TIMKENSTEEL CORPORATION
Entity Central Index Key	0001598428
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		45,151,960
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	OH
Entity Address, Address Line One	1835 Dueber Avenue SW
Entity Address, City or Town	Canton
Entity Address, State or Province	OH
City Area Code	330
Local Phone Number	471.7000
Entity Address, Postal Zip Code	44706
Entity Tax Identification Number	46-4024951
Entity File Number	1-36313

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 205.9	$ 274.2	$ 619.5	$ 981.9
Cost of products sold	208.3	276.8	618.1	941.3
Gross Profit	(2.4)	(2.6)	1.4	40.6
Selling, general and administrative expenses	17.9	21.4	58.1	64.9
Restructuring charges	0.7		1.6	3.6
Impairment charges and loss (gain) on sale or asset disposals	0.2	0.1	(3)	1.9
Interest expense	3	3.6	9.2	12
Other expense (income), net	(10.6)	(5.2)	(16)	(8.1)
Income (Loss) Before Income Taxes	(13.6)	(22.5)	(48.5)	(33.7)
Provision (benefit) for income taxes	0.3	(5.5)	0.6	(8.3)
Net Income (Loss)	$ (13.9)	$ (17)	$ (49.1)	$ (25.4)
Per Share Data:
Basic earnings (loss) per share	$ (0.31)	$ (0.38)	$ (1.09)	$ (0.57)
Diluted earnings (loss) per share	$ (0.31)	$ (0.38)	$ (1.09)	$ (0.57)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (13.9)	$ (17)	$ (49.1)	$ (25.4)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	1.4	(1)	(0.3)	(1.2)
Pension and postretirement liability adjustments	(1.7)	(6.8)	(4.2)	59.6
Other comprehensive income (loss), net of tax	(0.3)	(7.8)	(4.5)	58.4
Comprehensive Income (Loss), net of tax	$ (14.2)	$ (24.8)	$ (53.6)	$ 33

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 74.8	$ 27.1
Accounts receivable, net of allowances (2020 - $1.6 million; 2019 - $1.5 million)	81.2	77.5
Inventories, net	174.3	281.9
Deferred charges and prepaid expenses	5	3.3
Assets held for sale	1.6	4.1
Other current assets	6.9	7.8
Total Current Assets	343.8	401.7
Property, plant and equipment, net	582.4	626.4
Operating lease right-of-use assets	17.6	14.3
Pension assets	26.8	25.2
Intangible assets, net	10.1	14.3
Other non-current assets	3	3.3
Total Assets	983.7	1,085.2
Current Liabilities
Accounts payable	73.8	69.3
Salaries, wages and benefits	23.5	13.9
Accrued pension and postretirement costs	3	3
Current operating lease liabilities	6.7	6.2
Convertible notes, net	82.2
Other current liabilities	13.7	19.9
Total Current Liabilities	202.9	112.3
Non-Current Liabilities
Convertible notes, net		78.6
Credit Agreement	20	90
Non-current operating lease liabilities	10.9	8.2
Accrued pension and postretirement costs	223.3	222.1
Deferred income taxes	0.4	0.9
Other non-current liabilities	11.8	10
Total Liabilities	469.3	522.1
Shareholders’ Equity
Preferred shares, without par value; authorized 10.0 million shares, none issued	0	0
Common shares, without par value; authorized 200.0 million shares; issued 2020 and 2019 - 45.7 million shares	0	0
Additional paid-in capital	842.3	844.8
Retained deficit	(350.6)	(301.5)
Treasury shares - 2020 - 0.7 million; 2019 - 0.9 million	(17.5)	(24.9)
Accumulated other comprehensive income (loss)	40.2	44.7
Total Shareholders’ Equity	514.4	563.1
Total Liabilities and Shareholders’ Equity	$ 983.7	$ 1,085.2

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowances for accounts receivable	$ 1.6	$ 1.5
Preferred shares, authorized (in shares)	10,000,000	10,000,000
Preferred shares, issued (in shares)	0	0
Common shares, authorized (in shares)	200,000,000	200,000,000
Common shares, issued (in shares)	45,700,000	45,700,000
Treasury shares (in shares)	700,000	900,000

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity (Unaudited) - USD ($) $ in Millions	Total	Common Shares Outstanding	Additional Paid-in Capital	Retained Deficit	Treasury Shares	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2018	$ 612.9		$ 846.3	$ (191.5)	$ (33)	$ (8.9)
Beginning balance (in shares) at Dec. 31, 2018		44,584,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3.5			3.5
Other comprehensive income (loss)	0.5					0.5
Stock-based compensation expense	2.2		2.2
Stock option activity	0.2		0.2
Issuance of treasury shares			(7.5)		7.5
Issuance of treasury shares (in shares)		261,130
Shares surrendered for taxes	(1)				(1)
Shares surrendered for taxes (in shares)		(79,889)
Ending balance at Mar. 31, 2019	618.3		841.2	(188)	(26.5)	(8.4)
Ending balance (in shares) at Mar. 31, 2019		44,765,909
Beginning balance at Dec. 31, 2018	612.9		846.3	(191.5)	(33)	(8.9)
Beginning balance (in shares) at Dec. 31, 2018		44,584,668
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(25.4)
Other comprehensive income (loss)	58.4
Ending balance at Sep. 30, 2019	650.3		842.8	(216.9)	(25.1)	49.5
Ending balance (in shares) at Sep. 30, 2019		44,817,078
Beginning balance at Mar. 31, 2019	618.3		841.2	(188)	(26.5)	(8.4)
Beginning balance (in shares) at Mar. 31, 2019		44,765,909
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11.9)			(11.9)
Other comprehensive income (loss)	65.7					65.7
Stock-based compensation expense	1.6		1.6
Issuance of treasury shares			(1.4)		1.4
Issuance of treasury shares (in shares)		50,185
Ending balance at Jun. 30, 2019	673.7		841.4	(199.9)	(25.1)	57.3
Ending balance (in shares) at Jun. 30, 2019		44,816,094
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(17)			(17)
Other comprehensive income (loss)	(7.8)					(7.8)
Stock-based compensation expense	1.4		1.4
Issuance of treasury shares (in shares)		1,704
Shares surrendered for taxes (in shares)		(720)
Ending balance at Sep. 30, 2019	650.3		842.8	(216.9)	(25.1)	49.5
Ending balance (in shares) at Sep. 30, 2019		44,817,078
Beginning balance at Dec. 31, 2019	563.1		844.8	(301.5)	(24.9)	44.7
Beginning balance (in shares) at Dec. 31, 2019		44,820,153
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(19.9)			(19.9)
Other comprehensive income (loss)	(2.9)					(2.9)
Stock-based compensation expense	2		2
Issuance of treasury shares			(5.7)		5.7
Issuance of treasury shares (in shares)		215,708
Shares surrendered for taxes	(0.2)				(0.2)
Shares surrendered for taxes (in shares)		(70,033)
Ending balance at Mar. 31, 2020	542.1		841.1	(321.4)	(19.4)	41.8
Ending balance (in shares) at Mar. 31, 2020		44,965,828
Beginning balance at Dec. 31, 2019	563.1		844.8	(301.5)	(24.9)	44.7
Beginning balance (in shares) at Dec. 31, 2019		44,820,153
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(49.1)
Other comprehensive income (loss)	(4.5)
Ending balance at Sep. 30, 2020	514.4		842.3	(350.6)	(17.5)	40.2
Ending balance (in shares) at Sep. 30, 2020		45,036,324
Beginning balance at Mar. 31, 2020	542.1		841.1	(321.4)	(19.4)	41.8
Beginning balance (in shares) at Mar. 31, 2020		44,965,828
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(15.3)			(15.3)
Other comprehensive income (loss)	(1.3)					(1.3)
Stock-based compensation expense	1.6		1.6
Issuance of treasury shares			(2)		2
Issuance of treasury shares (in shares)		75,689
Shares surrendered for taxes	(0.1)				(0.1)
Shares surrendered for taxes (in shares)		(5,341)
Ending balance at Jun. 30, 2020	527		840.7	(336.7)	(17.5)	40.5
Ending balance (in shares) at Jun. 30, 2020		45,036,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(13.9)			(13.9)
Other comprehensive income (loss)	(0.3)					(0.3)
Stock-based compensation expense	1.6		1.6
Issuance of treasury shares (in shares)		258
Shares surrendered for taxes (in shares)		(110)
Ending balance at Sep. 30, 2020	$ 514.4		$ 842.3	$ (350.6)	$ (17.5)	$ 40.2
Ending balance (in shares) at Sep. 30, 2020		45,036,324

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating Activities
Net income (loss)	$ (49.1)	$ (25.4)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Depreciation and amortization	52.4	53.2
Amortization of deferred financing fees and debt discount	4	3.7
Impairment charges and loss (gain) on sale or asset disposals	(3)	1.9
Deferred income taxes	(0.4)	(2.3)
Stock-based compensation expense	5.2	5.2
Pension and postretirement expense, net	(1)	(0.5)
Pension and postretirement contributions and payments	(4.2)	(2.3)
Changes in operating assets and liabilities:
Accounts receivable, net	(3.7)	56
Inventories, net	107.6	44.5
Accounts payable	8.2	(81.6)
Other accrued expenses	4.6	(24.7)
Deferred charges and prepaid expenses	(1.7)	(1.4)
Other, net	2.1	(2)
Net Cash Provided (Used) by Operating Activities	121	24.3
Investing Activities
Capital expenditures	(13)	(21.7)
Proceeds from disposals of property, plant and equipment	10	0
Net Cash Provided (Used) by Investing Activities	(3)	(21.7)
Financing Activities
Proceeds from exercise of stock options	0	0.2
Shares surrendered for employee taxes on stock compensation	(0.3)	(1)
Repayments on credit agreements	(70)	(45)
Borrowings on credit agreements	0	40
Net Cash Provided (Used) by Financing Activities	(70.3)	(5.8)
Increase (Decrease) in Cash and Cash Equivalents	47.7	(3.2)
Cash and cash equivalents at beginning of period	27.1	21.6
Cash and Cash Equivalents at End of Period	$ 74.8	$ 18.4

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Note The accompanying unaudited Consolidated Financial Statements have been prepared by TimkenSteel Corporation (the Company or TimkenSteel) in accordance with generally accepted accounting principles in the United States (U.S. GAAP) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and disclosures considered necessary for a fair presentation have been included. For further information, refer to TimkenSteel’s audited Consolidated Financial Statements and Notes included in its Annual Report on Form 10-K for the year ended December 31, 2019. Customer Receivables The Company’s accounts receivables arise from sales to customers across all end markets. Historically, TimkenSteel’s allowance for doubtful accounts write-offs have been immaterial. The allowance for doubtful account reserve has been established using qualitative and quantitative methods. In general, account balances greater than one year of age or sent to third party collection are fully reserved. Account balances for customers that are viewed as higher risk are also analyzed for a reserve. In addition to these methods, the allowance for doubtful accounts in 2020 was adjusted for forward looking uncollectible balances, primarily in the energy and automotive end markets. The amount recorded was based on the Company’s assessment of the risk presented to customers in these end markets as a result of the COVID-19 pandemic as well as geo-political factors facing the energy end market. Change in Accounting Principle During the fourth quarter of 2019, TimkenSteel elected to change its method for valuing its inventories that previously used the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) method. The Company believes that the FIFO method is preferable as it improves comparability with its peers, more closely resembles the physical flow of its inventory and aligns with how the Company internally manages the business. The effects of the change in accounting principle from LIFO to FIFO were retrospectively applied. As a result of the retrospective application of the change in accounting principle, certain financial statement line items in the Company’s consolidated statements of operations, comprehensive income (loss), shareholders’ equity and cash flows for the three and nine months ended September 30, 2019 were adjusted as necessary. For further information, refer to TimkenSteel’s audited Consolidated Financial Statements and Notes included in its Annual Report on Form 10-K for the year ended December 31, 2019. The following tables reflect the impact to the financial statement line items as a result of the change in accounting principle for the prior periods presented in the accompanying financial statements (dollars in millions, except per share data): Consolidated Statement of Operations Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted Cost of products sold $ 261.0 $ 15.8 $ 276.8 $ 914.2 $ 27.1 $ 941.3 Gross profit 13.2 (15.8 ) (2.6 ) 67.7 (27.1 ) 40.6 Income (loss) before income taxes (6.7 ) (15.8 ) (22.5 ) (6.6 ) (27.1 ) (33.7 ) Provision (benefit) for income taxes (2.1 ) (3.4 ) (5.5 ) (1.8 ) (6.5 ) (8.3 ) Net income (loss) (4.6 ) (12.4 ) (17.0 ) (4.8 ) (20.6 ) (25.4 ) Per Share Data: Basic earnings (loss) per share (0.10 ) (0.28 ) (0.38 ) (0.11 ) (0.46 ) (0.57 ) Diluted earnings (loss) per share (0.10 ) (0.28 ) (0.38 ) (0.11 ) (0.46 ) (0.57 ) Consolidated Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted Net income (loss) $ (4.6 ) $ (12.4 ) $ (17.0 ) $ (4.8 ) $ (20.6 ) $ (25.4 ) Pension and postretirement liability adjustments (3.4 ) (3.4 ) (6.8 ) 66.1 (6.5 ) 59.6 Comprehensive income (loss), net of tax (9.0 ) (15.8 ) (24.8 ) 60.1 (27.1 ) 33.0 Consolidated Statement of Cash Flows Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted Net income (loss) $ (4.8 ) $ (20.6 ) $ (25.4 ) Pension and postretirement expense (benefit), net 6.0 (6.5 ) (0.5 ) Changes in operating assets and liabilities: Inventories, net 17.4 27.1 44.5

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Note Adoption of New Accounting Standards The Company adopted the following Accounting Standard Updates (ASU) in the first quarter of 2020, all of which were effective as of January 1, 2020, except ASU 2020-04, which became effective upon issuance on March 12, 2020. The adoption of these standards did not have a material impact on the unaudited Consolidated Financial Statements or the related Notes to the unaudited Consolidated Financial Statements. Standards Adopted Description ASU 2020-04, Reference Rate Reform (Topic 848) The standard provides optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) The standard aligns the requirements for capitalizing implementation costs in cloud computing software arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-13, Fair Value Measurement (Topic 820) The standard eliminates, modifies and adds disclosure requirements for fair value measurements. ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) The standard changes how entities will measure credit losses for most financial assets, including trade and other receivables, and replaces the current incurred loss approach with an expected loss model. Accounting Standards Issued But Not Yet Adopted The Company has considered the recent ASUs issued by the Financial Accounting Standards Board summarized below: Standard Pending Adoption Description Effective Date Anticipated Impact ASU 2019-12, Income Taxes (Topic 740) The standard simplifies the accounting for income taxes by removing various exceptions. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20) The standard eliminates, modifies and adds disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2020-03, Codification Improvements to Financial Instruments The standard clarifies or improves the Codification. The amendments make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) The standard simplifies the accounting for convertible instruments, as well as the diluted net income per share calculation. The standard also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception. January 1, 2022 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 3 - Revenue Recognition The following table provides the major sources of revenue by end-market sector for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Mobile $ 103.1 $ 110.2 $ 236.9 $ 389.7 Industrial 90.7 116.9 302.0 388.2 Energy 7.0 32.6 46.8 147.5 Other(1) 5.1 14.5 33.8 56.5 Total Net Sales $ 205.9 $ 274.2 $ 619.5 $ 981.9 (1) “Other” sales by end-market sector includes the Company’s scrap and oil country tubular goods (OCTG) billet sales. The following table provides the major sources of revenue by product type for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Bar $ 118.5 $ 179.7 $ 379.3 $ 645.0 Tube 21.6 32.2 77.6 122.6 Value-add 61.4 55.9 149.8 192.7 Other(2) 4.4 6.4 12.8 21.6 Total Net Sales $ 205.9 $ 274.2 $ 619.5 $ 981.9 (2) “Other” sales by product type includes the Company’s scrap sales.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2020
Restructuring And Related Activities [Abstract]
Restructuring Charges	Note During 2019 and throughout 2020, TimkenSteel made organizational changes to enhance profitable and sustainable growth. These company-wide actions included the restructuring of its business support functions, the reduction of management layers throughout the organization, the closure of the TimkenSteel Material Services (TMS) facility in Houston, Texas and other domestic and international actions to further improve the Company’s overall cost structure. Through these restructuring efforts, to date the Company has eliminated approximately 210 salaried positions and recognized restructuring charges of $10.2 million The following is a summary of the restructuring reserve for the nine months ended September 30, 2020 and 2019: Balance at December 31, 2019 $ 6.0 Expenses 1.6 Payments (7.1 ) Balance at September 30, 2020 $ 0.5 Balance at December 31, 2018 $ — Expenses 3.6 Payments (1.5 ) Balance at September 30, 2019 $ 2.1

Disposition of Non-Core Assets

Disposition of Non-Core Assets	9 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Disposition of Non-Core Assets	Note 5 - Disposition of Non-Core Assets D uring the first quarter of 2020, management completed its previously announced plan to close the Company’s TMS facility in Houston and initiated a plan to market and sell the assets at the facility. Accelerated depreciation and amortization of $1.6 million was recorded in the first quarter to reduce the net book value of the machinery and equipment to its estimated fair value. Subsequent to the closure, certain assets were sold and a gain on sale of $0.5 million and $4.7 million was recognized for the three and nine months ended September 30, 2020, respectively. At September 30, 2020, the remaining associated machinery and equipment, with a net book value of $1.6 million, was classified as held for sale on the Consolidated Balance Sheet. In October 2020, a portion of the machinery and equipment was sold for $0.3 million. The land and buildings associated with TMS were not classified as held for sale, as they were not considered available for immediate sale in their present condition. While the Company began selling the inventory associated with TMS in the first quarter of 2020 at prices that were in line with the net realizable value of the inventory established in the fourth quarter of 2019 , excess inventory related to our e nergy end-market sector resulted in an additional reserve of approximately $ million being recorded in the second quarter of 2020 . The excess inventory is the result of continued weakness in this end-market sector , as well as recent closures of several distributors that were holding considerable amounts of similar inventory. In the third quarter of 2020, TimkenSteel informed customers that as of December 31, 2020 the Company will discontinue the commercial offering of specific small-diameter seamless mechanical tubing product offerings. As a result, the Company recognized accelerated depreciation of $0.4 million in the third quarter on the machinery and equipment used in the manufacturing of these specific products. Additional accelerated depreciation of $1.2 million will be recognized in both the fourth quarter of 2020 and the first quarter of 2021 in alignment with the ramp down of this machinery and equipment.

Other Expense (Income), Net

Other Expense (Income), Net	9 Months Ended
	Sep. 30, 2020
Other Income And Expenses [Abstract]
Other Expense (Income), Net	Note The following table provides the components of other expense (income), net for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Pension and postretirement non-service benefit loss (income) $ (6.7 ) $ (5.1 ) $ (19.7 ) $ (12.4 ) Loss (gain) from remeasurement of benefit plans (4.1 ) — 3.5 4.4 Foreign currency exchange loss (gain) (0.1 ) 0.1 0.3 — Miscellaneous expense (income) 0.3 (0.2 ) (0.1 ) (0.1 ) Total other expense (income), net $ (10.6 ) $ (5.2 ) $ (16.0 ) $ (8.1 ) Non-service benefit income is derived from the Company’s pension and other postretirement plans. The Company’s expected return on assets has exceeded the interest cost component, resulting in income for the three and nine months ended September 30, 2020 and 2019. The TimkenSteel Corporation Retirement Plan (Salaried Plan) has a provision that permits employees to elect to receive their pension benefits in a lump sum. In the first quarter of 2020, the cumulative cost of all lump sum payments was projected to exceed the sum of the service cost and interest cost components of net periodic pension cost for the Salaried Plan. As a result, the Company completed a full remeasurement of its pension obligations and plan assets associated with the Salaried Plan during each quarter of 2020, which resulted in a non-cash (gain) loss from remeasurement of ($4.1) million and $3.5 million for the three and nine months ended September 30, 2020, respectively. For more details on the remeasurement, refer to “Note 11 - Retirement and Postretirement Plans”.

Income Tax Provision

Income Tax Provision	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax Provision	Note TimkenSteel’s provision for income taxes in interim periods is computed by applying the appropriate estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items, including interest on prior-year tax liabilities, are recorded during the periods in which they occur. Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Provision (benefit) for incomes taxes $ 0.3 $ (5.5 ) $ 0.6 $ (8.3 ) Effective tax rate (2.2 )% 24.4 % (1.2 )% 24.6 % In light of TimkenSteel’s operating performance in the U.S. and current industry conditions, the Company assessed its U.S. deferred tax assets and concluded, based upon all available evidence, that it was more likely than not that it would not realize the assets. As a result, the Company maintains a full valuation allowance against its deferred tax assets in the U.S. and applicable foreign countries until sufficient positive evidence exists to conclude that a valuation allowance is not necessary. Going forward, the need to maintain valuation allowances against deferred tax assets in the U.S. and other affected countries will cause variability in the Company’s effective tax rate. The majority of TimkenSteel’s income taxes are derived from foreign operations. During the third quarter, TimkenSteel (Shanghai) Corporation Limited declared a dividend of $5.1 million to TimkenSteel. Foreign withholding taxes paid on this repatriation of previous profits were $0.5 million, resulting in $4.6 million of cash sent to the U.S. On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security ("CARES") Act, an economic stimulus package intended to provide support, principally in the form of tax benefits, to companies and individuals negatively impacted by the COVID-19 pandemic. Although the majority of the provisions included in the CARES Act did not immediately benefit the Company from a cash tax perspective due to its significant net operating losses, the Company has taken advantage of the deferral of the employer share (6.2% of employee wages) of Social Security payroll taxes that would otherwise have been owed from the date of enactment of the legislation through December 31, 2020, as afforded by the Act. Through September 30, 2020, the Company has deferred $4.3 million in cash payments and recorded reserves for such deferred payroll taxes in salaries, wages and benefits on the Consolidated Balance Sheets. The Company expects additional deferred cash payments of approximately $2 million to $3 million for the remainder of 2020, with total deferred amounts to be paid in two equal installments at December 31, 2021 and December 31, 2022. The Company is currently evaluating the potential benefit related to the Employee Retention Credit and intends to file for this credit in the fourth quarter of 2020 .

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 8 - Earnings (Loss) Per Share Basic earnings (loss) per share is computed based upon the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed based upon the weighted average number of common shares outstanding plus the dilutive effect of common share equivalents calculated using the treasury stock method or if-converted method. For the Convertible Notes, the Company utilizes the if-converted method to calculate diluted earnings (loss) per share. Under the if-converted method, the Company adjusts net earnings to add back interest expense (including amortization of debt discount) recognized on the Convertible Notes and includes the number of shares potentially issuable related to the Convertible Notes in the weighted average shares outstanding. Treasury stock is excluded from the denominator in calculating both basic and diluted earnings (loss) per share. Common share equivalents for shares issuable for equity-based awards were excluded from the computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019 because the effect of their inclusion would have been anti-dilutive. Common share equivalents for shares issuable upon the conversion of outstanding convertible notes were excluded from the computation of diluted earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019 because the effect of their inclusion would have been anti-dilutive. The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) $ (13.9 ) $ (17.0 ) $ (49.1 ) $ (25.4 ) Denominator: Weighted average shares outstanding, basic 45.0 44.8 45.0 44.8 Dilutive effect of stock-based awards — — — — Weighted average shares outstanding, diluted 45.0 44.8 45.0 44.8 Basic earnings (loss) per share $ (0.31 ) $ (0.38 ) $ (1.09 ) $ (0.57 ) Diluted earnings (loss) per share $ (0.31 ) $ (0.38 ) $ (1.09 ) $ (0.57 )

Inventories

Inventories	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Inventories	Note The components of inventories, net of reserves as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 Manufacturing supplies $ 40.3 $ 49.8 Raw materials 14.0 26.0 Work in process 77.2 123.7 Finished products 57.5 93.1 Gross inventory 189.0 292.6 Allowance for inventory reserves (14.7 ) (10.7 ) Total Inventories, net $ 174.3 $ 281.9 In the second quarter of 2020, the Company recorded an additional allowance for inventory reserve of approximately $3.1 million. The additional reserve is associated with the energy end market and closure of the TMS facility in Houston. For more details, refer to “Note 5 – Disposition of Non-Core Assets.”

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Financing Arrangements	Note 1 0 - Financing Arrangements For a detailed discussion of the Company's long-term debt and credit arrangements, refer to “Note 14 - Financing Arrangements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Convertible Notes The components of the Convertible Notes as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 Principal $ 86.3 $ 86.3 Less: Debt issuance costs, net of amortization (0.4 ) (0.7 ) Less: Debt discount, net of amortization (3.7 ) (7.0 ) Convertible notes, net $ 82.2 $ 78.6 The initial value of the principal amount recorded as a liability at the date of issuance was $66.9 million, using an effective interest rate of 12.0%. The remaining $19.4 million of principal amount was allocated to the conversion feature and recorded as a component of shareholders’ equity at the date of issuance. This amount represents a discount to the debt to be amortized through interest expense using the effective interest method through the maturity of the Convertible Notes. Transaction costs were allocated to the liability and equity components based on their relative values. Transaction costs attributable to the liability component of $2.4 million are amortized to interest expense over the term of the Convertible Notes, and transaction costs attributable to the equity component of $0.7 million are included in shareholders’ equity. The Convertible Notes mature on June 1, 2021, and accordingly are classified as a current liability in the Consolidated Balance Sheet as of September 30, 2020. The following table sets forth total interest expense recognized related to the Convertible Notes: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Contractual interest expense $ 1.3 $ 1.3 $ 3.9 $ 3.9 Amortization of debt issuance costs 0.1 0.1 0.3 0.3 Amortization of debt discount 1.1 1.0 3.3 3.0 Total $ 2.5 $ 2.4 $ 7.5 $ 7.2 Amended Credit Agreement On October 15, 2019, the Company, as borrower, and certain domestic subsidiaries of the Company, as subsidiary guarantors, entered into a Third Amended and Restated Credit Agreement (the Amended Credit Agreement), with JP Morgan Chase Bank, N.A., as administrative agent (the Administrative Agent), Bank of America, N.A., as syndication agent, and the other lenders party thereto (collectively, the Lenders), which further amended and restated the Company’s Second Amended and Restated Credit Agreement dated as of January 26, 2018. The interest rate under the Amended Credit Agreement was 1.7% as of September 30, 2020. The amount available for borrowings under the credit agreement as of September 30, 2020 was $205.2 million, and the Company was in compliance with all covenants. In October 2020, the Company repaid the remaining $20 million outstanding balance on the Amended Credit Agreement using available cash. Fair Value Measurement The fair value of the Convertible Notes was approximately $74.9 million as of September 30, 2020. The fair value of the Convertible Notes, which falls within Level 1 of the fair value hierarchy as defined by Accounting Standards Codification (ASC) 820, Fair Value Measurements, is based on the last price traded in September 2020. TimkenSteel’s Credit Agreement is variable-rate debt. As such, the carrying value is a reasonable estimate of fair value as interest rates on these borrowings approximate current market rates. This valuation falls within Level 2 of the fair value hierarchy and is based on quoted prices for similar assets and liabilities in active markets that are observable either directly or indirectly. Interest Paid The total cash interest paid for the nine months ended September 30, 2020 and 2019 was $4.5 million and $7.6 million, respectively.

Retirement and Postretirement P

Retirement and Postretirement Plans	9 Months Ended
	Sep. 30, 2020
Defined Benefit Plans And Other Postretirement Benefit Plans Disclosures [Abstract]
Retirement and Postretirement Plans	Note The components of net periodic benefit cost (income) for the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Pension Postretirement Pension Postretirement Service cost $ 4.8 $ 0.3 $ 4.4 $ 0.3 Interest cost 10.5 1.0 12.2 1.3 Expected return on plan assets (16.1 ) (0.9 ) (16.3 ) (1.0 ) Amortization of prior service cost 0.1 (1.5 ) 0.1 (1.4 ) Net remeasurement (gains) losses (4.1 ) — — — Net Periodic Benefit Cost (Income) $ (4.8 ) $ (1.1 ) $ 0.4 $ (0.8 ) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Pension Postretirement Pension Postretirement Service cost $ 14.5 $ 0.9 $ 13.1 $ 0.9 Interest cost 32.2 3.1 36.7 4.8 Expected return on plan assets (48.3 ) (2.7 ) (48.9 ) (2.9 ) Amortization of prior service cost 0.3 (4.5 ) 0.3 (2.4 ) Net remeasurement (gains) losses 3.5 — — 4.4 Net Periodic Benefit Cost (Income) $ 2.2 $ (3.2 ) $ 1.2 $ 4.8 The Salaried Plan has a provision that permits employees to elect to receive their pension benefits in a lump sum. In the first quarter of 2020, the cumulative cost of all lump sum payments was projected to exceed the sum of the service cost and interest cost components of net periodic pension cost for the Salaried Plan. As a result, the Company completed a full remeasurement of its pension obligations and plan assets associated with the Salaried Plan during each quarter of 2020, which resulted in a non-cash (gain) loss from remeasurement of ($4.1) million and $3.5 million for the three and nine months ended September 30, 2020, respectively.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 12 – Stock-Based Compensation During the nine months ended September 30, 2020, the Board of Directors granted 931,244 time-vested restricted stock units, 182,180 performance-vested restricted stock units, and 511,020 stock options. Time-vested restricted stock units are issued with the fair value equal to the closing market price of TimkenSteel common shares on the date of grant. These restricted stock units do not have any performance conditions for vesting. Expense is recognized over the service period, adjusted for any forfeitures that should occur during the vesting period. The weighted average fair value of the restricted stock units granted during the nine months ended September 30, 2020 was $4.24 per share. Performance-vested restricted stock units issued in 2020 vest based on achievement of a total shareholder return (TSR) metric. The TSR metric is considered a market condition, which requires TimkenSteel to reflect it in the fair value on grant date using an advanced option-pricing model. The fair value of each performance share was therefore determined using a Monte Carlo valuation model, a generally accepted lattice pricing model under ASC 718 – Stock-based Compensation. The Monte Carlo valuation model, among other factors, uses commonly-accepted economic theory underlying all valuation models, estimates fair value using simulations of future share prices based on stock price behavior and considers the correlation of peer company returns in determining fair value. The weighted average fair value of the performance-vested restricted stock units granted during the nine months ended September 30, 2020 was $4.98 per share. The Board of Directors granted 38,900 performance-vested restricted stock units in the third quarter of 2020. Stock options are issued with an exercise price equal to the closing market price of TimkenSteel common shares on the date of grant. The fair value of stock options is determined using a Black-Scholes option pricing model, which incorporates assumptions regarding the expected volatility, the expected option life, the risk-free interest rate and the expected dividend yield. The weighted average exercise price and weighted average fair value of the stock option grants during the nine months ended September 30, 2020 were $5.26 per share and $2.23 per share, respectively. There were no stock option grants in the third quarter of 2020. TimkenSteel recognized stock-based compensation expense of $1.6 million and $5.2 million for the three and nine months ended September 30, 2020, compared to $1.4 million and $4.4 for the same periods in 2019, respectively. Future stock-based compensation expense regarding the unvested portion of all awards is approximately $6.7 million. The future expense is expected to be recognized over the remaining vesting periods through 2024.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note Changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 and 2019 by component were as follows: Foreign Currency Translation Adjustments Pension and Postretirement Liability Adjustments Total Balance as of December 31, 2019 $ (6.8 ) $ 51.5 $ 44.7 Other comprehensive income before reclassifications, before income tax (0.3 ) — (0.3 ) Amounts reclassified from accumulated other comprehensive income (loss), before income tax — (4.3 ) (4.3 ) Tax effect — 0.1 0.1 Net current period other comprehensive income, net of income taxes (0.3 ) (4.2 ) (4.5 ) Balance as of September 30, 2020 $ (7.1 ) $ 47.3 $ 40.2 Foreign Currency Translation Adjustments Pension and Postretirement Liability Adjustments Total Balance at December 31, 2018 $ (7.3 ) $ (1.6 ) $ (8.9 ) Other comprehensive income before reclassifications, before income tax (1.2 ) — (1.2 ) Amounts reclassified from accumulated other comprehensive income (loss), before income tax — (2.0 ) (2.0 ) Amounts deferred to accumulated other comprehensive income (loss), before income tax — 70.2 70.2 Tax effect — (8.6 ) (8.6 ) Net current period other comprehensive income, net of income taxes (1.2 ) 59.6 58.4 Balance as of September 30, 2019 $ (8.5 ) $ 58.0 $ 49.5 The amount reclassified from accumulated other comprehensive income (loss) in the nine months ended September 30, 2020 and 2019 for the pension and postretirement liability adjustment was included in other income, net in the unaudited Consolidated Statements of Operations.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2020
Loss Contingency Accrual Disclosures [Abstract]
Contingencies	Note TimkenSteel has a number of loss exposures incurred in the ordinary course of business, such as environmental claims, product warranty claims, and litigation. Establishing loss reserves for these matters requires management’s estimate and judgment regarding risk exposure and ultimate liability or realization. These loss reserves are reviewed periodically and adjustments are made to reflect the most recent facts and circumstances. Accruals related to environmental claims represent management’s best estimate of the fees and costs associated with these claims. Although it is not possible to predict with certainty the outcome of such claims, management believes that their ultimate dispositions should not have a material adverse effect on our financial position, cash flows or results of operations. As of September 30, 2020 and December 31, 2019, TimkenSteel had a $0.9 million and a $1.5 million contingency reserve, respectively, related to loss exposures incurred in the ordinary course of business.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Adoption of New Accounting Standards	Adoption of New Accounting Standards The Company adopted the following Accounting Standard Updates (ASU) in the first quarter of 2020, all of which were effective as of January 1, 2020, except ASU 2020-04, which became effective upon issuance on March 12, 2020. The adoption of these standards did not have a material impact on the unaudited Consolidated Financial Statements or the related Notes to the unaudited Consolidated Financial Statements. Standards Adopted Description ASU 2020-04, Reference Rate Reform (Topic 848) The standard provides optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40) The standard aligns the requirements for capitalizing implementation costs in cloud computing software arrangements with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-13, Fair Value Measurement (Topic 820) The standard eliminates, modifies and adds disclosure requirements for fair value measurements. ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326) The standard changes how entities will measure credit losses for most financial assets, including trade and other receivables, and replaces the current incurred loss approach with an expected loss model. Accounting Standards Issued But Not Yet Adopted The Company has considered the recent ASUs issued by the Financial Accounting Standards Board summarized below: Standard Pending Adoption Description Effective Date Anticipated Impact ASU 2019-12, Income Taxes (Topic 740) The standard simplifies the accounting for income taxes by removing various exceptions. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20) The standard eliminates, modifies and adds disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2020-03, Codification Improvements to Financial Instruments The standard clarifies or improves the Codification. The amendments make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications. January 1, 2021 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition. ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) The standard simplifies the accounting for convertible instruments, as well as the diluted net income per share calculation. The standard also removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception. January 1, 2022 The Company is currently evaluating the impact of the adoption of this ASU on its results of operations and financial condition.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Change in Accounting Principle	The following tables reflect the impact to the financial statement line items as a result of the change in accounting principle for the prior periods presented in the accompanying financial statements (dollars in millions, except per share data): Consolidated Statement of Operations Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted Cost of products sold $ 261.0 $ 15.8 $ 276.8 $ 914.2 $ 27.1 $ 941.3 Gross profit 13.2 (15.8 ) (2.6 ) 67.7 (27.1 ) 40.6 Income (loss) before income taxes (6.7 ) (15.8 ) (22.5 ) (6.6 ) (27.1 ) (33.7 ) Provision (benefit) for income taxes (2.1 ) (3.4 ) (5.5 ) (1.8 ) (6.5 ) (8.3 ) Net income (loss) (4.6 ) (12.4 ) (17.0 ) (4.8 ) (20.6 ) (25.4 ) Per Share Data: Basic earnings (loss) per share (0.10 ) (0.28 ) (0.38 ) (0.11 ) (0.46 ) (0.57 ) Diluted earnings (loss) per share (0.10 ) (0.28 ) (0.38 ) (0.11 ) (0.46 ) (0.57 ) Consolidated Statement of Comprehensive Income (Loss) Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted As Reported Adjustments As Adjusted Net income (loss) $ (4.6 ) $ (12.4 ) $ (17.0 ) $ (4.8 ) $ (20.6 ) $ (25.4 ) Pension and postretirement liability adjustments (3.4 ) (3.4 ) (6.8 ) 66.1 (6.5 ) 59.6 Comprehensive income (loss), net of tax (9.0 ) (15.8 ) (24.8 ) 60.1 (27.1 ) 33.0 Consolidated Statement of Cash Flows Nine Months Ended September 30, 2019 As Reported Adjustments As Adjusted Net income (loss) $ (4.8 ) $ (20.6 ) $ (25.4 ) Pension and postretirement expense (benefit), net 6.0 (6.5 ) (0.5 ) Changes in operating assets and liabilities: Inventories, net 17.4 27.1 44.5

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Disaggregation of Revenue	The following table provides the major sources of revenue by end-market sector for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Mobile $ 103.1 $ 110.2 $ 236.9 $ 389.7 Industrial 90.7 116.9 302.0 388.2 Energy 7.0 32.6 46.8 147.5 Other(1) 5.1 14.5 33.8 56.5 Total Net Sales $ 205.9 $ 274.2 $ 619.5 $ 981.9 (1) “Other” sales by end-market sector includes the Company’s scrap and oil country tubular goods (OCTG) billet sales. The following table provides the major sources of revenue by product type for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Bar $ 118.5 $ 179.7 $ 379.3 $ 645.0 Tube 21.6 32.2 77.6 122.6 Value-add 61.4 55.9 149.8 192.7 Other(2) 4.4 6.4 12.8 21.6 Total Net Sales $ 205.9 $ 274.2 $ 619.5 $ 981.9 (2) “Other” sales by product type includes the Company’s scrap sales.

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring And Related Activities [Abstract]
Schedule of Restructuring Reserve	The following is a summary of the restructuring reserve for the nine months ended September 30, 2020 and 2019: Balance at December 31, 2019 $ 6.0 Expenses 1.6 Payments (7.1 ) Balance at September 30, 2020 $ 0.5 Balance at December 31, 2018 $ — Expenses 3.6 Payments (1.5 ) Balance at September 30, 2019 $ 2.1

Other Expense (Income), Net (Ta

Other Expense (Income), Net (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income And Expenses [Abstract]
Schedule of Other Expense (Income), net	The following table provides the components of other expense (income), net for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Pension and postretirement non-service benefit loss (income) $ (6.7 ) $ (5.1 ) $ (19.7 ) $ (12.4 ) Loss (gain) from remeasurement of benefit plans (4.1 ) — 3.5 4.4 Foreign currency exchange loss (gain) (0.1 ) 0.1 0.3 — Miscellaneous expense (income) 0.3 (0.2 ) (0.1 ) (0.1 ) Total other expense (income), net $ (10.6 ) $ (5.2 ) $ (16.0 ) $ (8.1 )

Income Tax Provision (Tables)

Income Tax Provision (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of (Benefit) Provision for Income Taxes	Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Provision (benefit) for incomes taxes $ 0.3 $ (5.5 ) $ 0.6 $ (8.3 ) Effective tax rate (2.2 )% 24.4 % (1.2 )% 24.6 %

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Numerator: Net income (loss) $ (13.9 ) $ (17.0 ) $ (49.1 ) $ (25.4 ) Denominator: Weighted average shares outstanding, basic 45.0 44.8 45.0 44.8 Dilutive effect of stock-based awards — — — — Weighted average shares outstanding, diluted 45.0 44.8 45.0 44.8 Basic earnings (loss) per share $ (0.31 ) $ (0.38 ) $ (1.09 ) $ (0.57 ) Diluted earnings (loss) per share $ (0.31 ) $ (0.38 ) $ (1.09 ) $ (0.57 )

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Components of Inventory	The components of inventories, net of reserves as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 Manufacturing supplies $ 40.3 $ 49.8 Raw materials 14.0 26.0 Work in process 77.2 123.7 Finished products 57.5 93.1 Gross inventory 189.0 292.6 Allowance for inventory reserves (14.7 ) (10.7 ) Total Inventories, net $ 174.3 $ 281.9

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Components of Convertible Notes	The components of the Convertible Notes as of September 30, 2020 and December 31, 2019 were as follows: September 30, 2020 December 31, 2019 Principal $ 86.3 $ 86.3 Less: Debt issuance costs, net of amortization (0.4 ) (0.7 ) Less: Debt discount, net of amortization (3.7 ) (7.0 ) Convertible notes, net $ 82.2 $ 78.6
Schedule of Interest Expense	The following table sets forth total interest expense recognized related to the Convertible Notes: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Contractual interest expense $ 1.3 $ 1.3 $ 3.9 $ 3.9 Amortization of debt issuance costs 0.1 0.1 0.3 0.3 Amortization of debt discount 1.1 1.0 3.3 3.0 Total $ 2.5 $ 2.4 $ 7.5 $ 7.2

Retirement and Postretirement_2

Retirement and Postretirement Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Defined Benefit Plans And Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Defined Benefit Plans Disclosures	The components of net periodic benefit cost (income) for the three and nine months ended September 30, 2020 and 2019 were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 Pension Postretirement Pension Postretirement Service cost $ 4.8 $ 0.3 $ 4.4 $ 0.3 Interest cost 10.5 1.0 12.2 1.3 Expected return on plan assets (16.1 ) (0.9 ) (16.3 ) (1.0 ) Amortization of prior service cost 0.1 (1.5 ) 0.1 (1.4 ) Net remeasurement (gains) losses (4.1 ) — — — Net Periodic Benefit Cost (Income) $ (4.8 ) $ (1.1 ) $ 0.4 $ (0.8 ) Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 Pension Postretirement Pension Postretirement Service cost $ 14.5 $ 0.9 $ 13.1 $ 0.9 Interest cost 32.2 3.1 36.7 4.8 Expected return on plan assets (48.3 ) (2.7 ) (48.9 ) (2.9 ) Amortization of prior service cost 0.3 (4.5 ) 0.3 (2.4 ) Net remeasurement (gains) losses 3.5 — — 4.4 Net Periodic Benefit Cost (Income) $ 2.2 $ (3.2 ) $ 1.2 $ 4.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2020
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 and 2019 by component were as follows: Foreign Currency Translation Adjustments Pension and Postretirement Liability Adjustments Total Balance as of December 31, 2019 $ (6.8 ) $ 51.5 $ 44.7 Other comprehensive income before reclassifications, before income tax (0.3 ) — (0.3 ) Amounts reclassified from accumulated other comprehensive income (loss), before income tax — (4.3 ) (4.3 ) Tax effect — 0.1 0.1 Net current period other comprehensive income, net of income taxes (0.3 ) (4.2 ) (4.5 ) Balance as of September 30, 2020 $ (7.1 ) $ 47.3 $ 40.2 Foreign Currency Translation Adjustments Pension and Postretirement Liability Adjustments Total Balance at December 31, 2018 $ (7.3 ) $ (1.6 ) $ (8.9 ) Other comprehensive income before reclassifications, before income tax (1.2 ) — (1.2 ) Amounts reclassified from accumulated other comprehensive income (loss), before income tax — (2.0 ) (2.0 ) Amounts deferred to accumulated other comprehensive income (loss), before income tax — 70.2 70.2 Tax effect — (8.6 ) (8.6 ) Net current period other comprehensive income, net of income taxes (1.2 ) 59.6 58.4 Balance as of September 30, 2019 $ (8.5 ) $ 58.0 $ 49.5

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Change in Accounting Principle (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of products sold	$ 208.3			$ 276.8			$ 618.1	$ 941.3
Gross profit	(2.4)			(2.6)			1.4	40.6
Income (loss) before income taxes	(13.6)			(22.5)			(48.5)	(33.7)
Provision (benefit) for income taxes	0.3			(5.5)			0.6	(8.3)
Net income (loss)	$ (13.9)	$ (15.3)	$ (19.9)	$ (17)	$ (11.9)	$ 3.5	$ (49.1)	$ (25.4)
Basic earnings (loss) per share	$ (0.31)			$ (0.38)			$ (1.09)	$ (0.57)
Diluted earnings (loss) per share	$ (0.31)			$ (0.38)			$ (1.09)	$ (0.57)
Pension and postretirement liability adjustments	$ (1.7)			$ (6.8)			$ (4.2)	$ 59.6
Comprehensive income (loss), net of tax	$ (14.2)			(24.8)			(53.6)	33
Pension and postretirement expense (benefit), net							(1)	(0.5)
Inventories, net							$ 107.6	44.5
As Reported
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of products sold				261				914.2
Gross profit				13.2				67.7
Income (loss) before income taxes				(6.7)				(6.6)
Provision (benefit) for income taxes				(2.1)				(1.8)
Net income (loss)				$ (4.6)				$ (4.8)
Basic earnings (loss) per share				$ (0.10)				$ (0.11)
Diluted earnings (loss) per share				$ (0.10)				$ (0.11)
Pension and postretirement liability adjustments				$ (3.4)				$ 66.1
Comprehensive income (loss), net of tax				(9)				60.1
Pension and postretirement expense (benefit), net								6
Inventories, net								17.4
Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Cost of products sold				15.8				27.1
Gross profit				(15.8)				(27.1)
Income (loss) before income taxes				(15.8)				(27.1)
Provision (benefit) for income taxes				(3.4)				(6.5)
Net income (loss)				$ (12.4)				$ (20.6)
Basic earnings (loss) per share				$ (0.28)				$ (0.46)
Diluted earnings (loss) per share				$ (0.28)				$ (0.46)
Pension and postretirement liability adjustments				$ (3.4)				$ (6.5)
Comprehensive income (loss), net of tax				$ (15.8)				(27.1)
Pension and postretirement expense (benefit), net								(6.5)
Inventories, net								$ 27.1

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Narrative (Details)	Sep. 30, 2020
ASU 2020-04
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Mar. 12, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2018-15
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2018-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 1, 2020
Change in accounting principle, accounting standards update, immaterial effect	true

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 205.9	$ 274.2	$ 619.5	$ 981.9
Bar
Disaggregation of Revenue [Line Items]
Net sales	118.5	179.7	379.3	645
Tube
Disaggregation of Revenue [Line Items]
Net sales	21.6	32.2	77.6	122.6
Value-add
Disaggregation of Revenue [Line Items]
Net sales	61.4	55.9	149.8	192.7
Other
Disaggregation of Revenue [Line Items]
Net sales	4.4	6.4	12.8	21.6
Mobile
Disaggregation of Revenue [Line Items]
Net sales	103.1	110.2	236.9	389.7
Industrial
Disaggregation of Revenue [Line Items]
Net sales	90.7	116.9	302	388.2
Energy
Disaggregation of Revenue [Line Items]
Net sales	7	32.6	46.8	147.5
Other
Disaggregation of Revenue [Line Items]
Net sales	$ 5.1	$ 14.5	$ 33.8	$ 56.5

Restructuring Charges - Narrati

Restructuring Charges - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended		21 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)Position	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)Position
Restructuring And Related Activities [Abstract]
Number of positions eliminated | Position		50		210
Restructuring charges | $	$ 0.7	$ 1.6	$ 3.6	$ 10.2

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		21 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Restructuring Reserve [Roll Forward]
Beginning balance		$ 6
Restructuring charges	$ 0.7	1.6	$ 3.6	$ 10.2
Payments		(7.1)	(1.5)
Ending balance	$ 0.5	$ 0.5	$ 2.1	$ 0.5

Disposition of Non-Core Assets

Disposition of Non-Core Assets (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Oct. 29, 2020	Jun. 30, 2020	Dec. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Assets held for sale			$ 1.6		$ 1.6			$ 4.1
Inventory valuation reserves			14.7		14.7			$ 10.7
Disposal Group, Held-for-sale, Not Discontinued Operation
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Accelerated depreciation				$ 1.6
Gain (loss) on sale/disposal			0.5		4.7
Inventory valuation reserves							$ 3.1
Disposal Group, Held-for-sale, Not Discontinued Operation | Machinery and Equipment
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Accelerated depreciation			0.4
Assets held for sale			$ 1.6		$ 1.6
Disposal Group, Held-for-sale, Not Discontinued Operation | Machinery and Equipment | Scenario, Forecast
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Accelerated depreciation	$ 1.2	$ 1.2
Disposal Group, Held-for-sale, Not Discontinued Operation | Machinery and Equipment | Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Machinery and equipment sold on disposal group						$ 0.3

Other Expense (Income), Net (De

Other Expense (Income), Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income And Expenses [Abstract]
Pension and postretirement non-service benefit loss (income)	$ (6.7)	$ (5.1)	$ (19.7)	$ (12.4)
Loss (gain) from remeasurement of benefit plans	(4.1)		3.5	4.4
Foreign currency exchange loss (gain)	(0.1)	0.1	0.3
Miscellaneous expense (income)	0.3	(0.2)	(0.1)	(0.1)
Total other expense (income), net	$ (10.6)	$ (5.2)	$ (16)	$ (8.1)

Other Expense (Income), Net - N

Other Expense (Income), Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Other Income And Expenses [Abstract]
Loss (gain) from remeasurement of benefit plans	$ (4.1)	$ 3.5	$ 4.4

Income Tax Provision - Schedule

Income Tax Provision - Schedule of (Benefit) Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ 0.3	$ (5.5)	$ 0.6	$ (8.3)
Effective tax rate	(2.20%)	24.40%	(1.20%)	24.60%

Income Tax Provision - Narrativ

Income Tax Provision - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)Installment	Dec. 31, 2020USD ($)
Operating Loss Carryforwards [Line Items]
Dividends declared	$ 5.1
Coronavirus Aid, Relief, and Economic Security ("CARES") Act
Operating Loss Carryforwards [Line Items]
Percentage of employee wages deferred as employer share of payroll taxes		6.20%
Deferred cash payments of payroll taxes	4.3	$ 4.3
Number of installments, deferred cash payments of payroll taxes to be paid | Installment		2
Coronavirus Aid, Relief, and Economic Security ("CARES") Act | Scenario, Forecast | Minimum
Operating Loss Carryforwards [Line Items]
Deferred cash payments of payroll taxes			$ 2
Coronavirus Aid, Relief, and Economic Security ("CARES") Act | Scenario, Forecast | Maximum
Operating Loss Carryforwards [Line Items]
Deferred cash payments of payroll taxes			$ 3
Foreign
Operating Loss Carryforwards [Line Items]
Withholding taxes paid for cash repatriation	0.5
U.S.
Operating Loss Carryforwards [Line Items]
Withholding taxes paid for cash repatriation	$ 4.6

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Net income (loss)	$ (13.9)	$ (15.3)	$ (19.9)	$ (17)	$ (11.9)	$ 3.5	$ (49.1)	$ (25.4)
Denominator:
Weighted average shares outstanding, basic (in shares)	45			44.8			45	44.8
Weighted average shares outstanding, diluted (in shares)	45			44.8			45	44.8
Basic earnings (loss) per share	$ (0.31)			$ (0.38)			$ (1.09)	$ (0.57)
Diluted earnings (loss) per share	$ (0.31)			$ (0.38)			$ (1.09)	$ (0.57)

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Manufacturing supplies	$ 40.3	$ 49.8
Raw materials	14	26
Work in process	77.2	123.7
Finished products	57.5	93.1
Gross inventory	189	292.6
Allowance for inventory reserves	(14.7)	(10.7)
Total Inventories, net	$ 174.3	$ 281.9

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Inventory [Line Items]
Inventory valuation reserves	$ 14.7		$ 10.7
Disposal Group, Held-for-sale, Not Discontinued Operation
Inventory [Line Items]
Inventory valuation reserves		$ 3.1

Financing Arrangements - Schedu

Financing Arrangements - Schedule of Convertible Debt (Details) - Convertible Notes - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019	May 31, 2016
Debt Instrument [Line Items]
Principal	$ 86.3	$ 86.3
Less: Debt issuance costs, net of amortization	(0.4)	(0.7)	$ (2.4)
Less: Debt discount, net of amortization	(3.7)	(7)
Convertible notes, net	$ 82.2	$ 78.6	$ 66.9

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		9 Months Ended
	Oct. 29, 2020	May 31, 2016	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Debt Instrument [Line Items]
Interest paid			$ 4.5	$ 7.6
Convertible Senior Notes
Debt Instrument [Line Items]
Effective interest rate		12.00%
Initial value of principal		$ 66.9	82.2		$ 78.6
Principal amount allocated to conversion feature		19.4
Transaction costs, debt		2.4	0.4		$ 0.7
Transaction costs, equity component of convertible debt		$ 0.7
Maturity date		Jun. 1, 2021
Fair value of convertible notes			$ 74.9
Third Amended Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Effective interest rate			1.70%
Amount available for borrowings under amended credit agreement			$ 205.2
Third Amended Credit Facility | Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Repayments of lines of credit	$ 20

Financing Arrangements - Sche_2

Financing Arrangements - Schedule of Interest Expense (Details) - Convertible Senior Notes - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Contractual interest expense	$ 1.3	$ 1.3	$ 3.9	$ 3.9
Amortization of debt issuance costs	0.1	0.1	0.3	0.3
Amortization of debt discount	1.1	1	3.3	3
Total	$ 2.5	$ 2.4	$ 7.5	$ 7.2

Retirement and Postretirement_3

Retirement and Postretirement Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 4.8	$ 4.4	$ 14.5	$ 13.1
Interest cost	10.5	12.2	32.2	36.7
Expected return on plan assets	(16.1)	(16.3)	(48.3)	(48.9)
Amortization of prior service cost	0.1	0.1	0.3	0.3
Net remeasurement (gains) losses	(4.1)		3.5
Net Periodic Benefit Cost (Income)	(4.8)	0.4	2.2	1.2
Postretirement
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.3	0.3	0.9	0.9
Interest cost	1	1.3	3.1	4.8
Expected return on plan assets	(0.9)	(1)	(2.7)	(2.9)
Amortization of prior service cost	(1.5)	(1.4)	(4.5)	(2.4)
Net remeasurement (gains) losses				4.4
Net Periodic Benefit Cost (Income)	$ (1.1)	$ (0.8)	$ (3.2)	$ 4.8

Retirement and Postretirement_4

Retirement and Postretirement Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Pension
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
(Gain) loss from remeasurement of benefit plans	$ (4.1)	$ 3.5

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options, shares granted	0		511,020
Weighted average exercise price of stock option grants			$ 5.26
Weighted average fair value of stock option grants			$ 2.23
Stock-based compensation expense	$ 1.6	$ 1.4	$ 5.2	$ 4.4
Future stock-based compensation expense			$ 6.7
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	0		931,244
Weighted average fair value of shares granted			$ 4.24
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted	38,900		182,180
Weighted average fair value of shares granted			$ 4.98

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 527	$ 542.1	$ 563.1	$ 673.7	$ 618.3	$ 612.9	$ 563.1	$ 612.9
Other comprehensive income before reclassifications, before income tax							(0.3)	(1.2)
Amounts reclassified from accumulated other comprehensive income (loss), before income tax							(4.3)	(2)
Amounts deferred to accumulated other comprehensive income (loss), before income tax								70.2
Income tax							0.1	(8.6)
Other comprehensive income (loss), net of tax	(0.3)	(1.3)	(2.9)	(7.8)	65.7	0.5	(4.5)	58.4
Ending balance	514.4	527	542.1	650.3	673.7	618.3	514.4	650.3
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(6.8)			(7.3)	(6.8)	(7.3)
Other comprehensive income before reclassifications, before income tax							(0.3)	(1.2)
Amounts reclassified from accumulated other comprehensive income (loss), before income tax							0	0
Amounts deferred to accumulated other comprehensive income (loss), before income tax								0
Income tax							0	0
Other comprehensive income (loss), net of tax							(0.3)	(1.2)
Ending balance	(7.1)			(8.5)			(7.1)	(8.5)
Pension and Postretirement Liability Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			51.5			(1.6)	51.5	(1.6)
Other comprehensive income before reclassifications, before income tax							0	0
Amounts reclassified from accumulated other comprehensive income (loss), before income tax							(4.3)	(2)
Amounts deferred to accumulated other comprehensive income (loss), before income tax								70.2
Income tax							0.1	(8.6)
Other comprehensive income (loss), net of tax							(4.2)	59.6
Ending balance	47.3			58			47.3	58
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	40.5	41.8	44.7	57.3	(8.4)	(8.9)	44.7	(8.9)
Other comprehensive income (loss), net of tax	(0.3)	(1.3)	(2.9)	(7.8)	65.7	0.5
Ending balance	$ 40.2	$ 40.5	$ 41.8	$ 49.5	$ 57.3	$ (8.4)	$ 40.2	$ 49.5

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Loss Contingency Accrual Disclosures [Abstract]
Contingency reserves	$ 0.9	$ 1.5