XML 65 R40.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Components of the provision for income taxes | The components of the provision for income taxes are as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Current: |  |  |  |  |
Federal | $ | 3.7 |  |  | $ | 3.0 |  |  | $ | 11.3 |
State | 4.6 |  |  | 1.9 |  |  | 7.9 |
Foreign | 2.8 |  |  | — |  |  | 6.4 |
Total current | 11.1 |  |  | 4.9 |  |  | 25.6 |
Deferred: |  |  |  |  |
Federal | 15.1 |  |  | 25.0 |  |  | 37.5 |
State | 6.4 |  |  | 4.1 |  |  | 5.7 |
Foreign | 3.7 |  |  | 2.7 |  |  | 1.6 |
Total deferred | 25.2 |  |  | 31.8 |  |  | 44.8 |
Provision | $ | 36.3 |  |  | $ | 36.7 |  |  | $ | 70.4 |
Reconciliation between the statutory U.S. federal income tax rate and the Company's effective income tax rate | The following is a reconciliation between the statutory U.S. federal income tax rate and the Company’s effective income tax rate on income before income taxes:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Statutory rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, including prior year true-ups | 7.5 |  |  | 2.3 |  |  | 3.8 |
AMP tax credits | (8.2) |  |  | (3.5) |  |  | — |
Statutory depletion | (3.2) |  |  | (2.1) |  |  | (1.3) |
Changes in valuation allowances and reserves | (1.1) |  |  | 1.8 |  |  | 0.1 |
Prior year true-ups | 0.4 |  |  | (0.5) |  |  | — |
Foreign adjustments | 1.5 |  |  | 1.8 |  |  | (0.2) |
Currency adjustments | 4.8 |  |  | (2.6) |  |  | (0.8) |
Compensation related items | 0.5 |  |  | — |  |  | 0.2 |
Divestiture-related non-deductible goodwill | 3.3 |  |  | — |  |  | — |
Other, net | 1.4 |  |  | 0.5 |  |  | (0.5) |
Effective rate | 27.9 | % |  | 18.7 | % |  | 22.3 | %
Components of deferred tax liabilities and assets | The components of deferred tax liabilities and assets are as follows:
| December 31,
| 2024 |  | 2023
| (in millions)
Deferred tax liabilities: |  |  |
Depreciation, depletion, and amortization | $ | 248.7 |  |  | $ | 230.8 |
Total deferred tax liabilities | 248.7 |  |  | 230.8 |
Deferred tax assets: |  |  |
Workers compensation and other benefits | 12.3 |  |  | 13.9 |
Warranties and reserves | 1.1 |  |  | 1.1 |
Equity items | — |  |  | (0.3) |
Tax carryforwards and credits | 36.9 |  |  | 52.8 |
Inventory | 6.1 |  |  | 1.9 |
Accrued liabilities and other | 1.5 |  |  | (2.3) |
Total deferred tax assets | 57.9 |  |  | 67.1 |
Net deferred tax assets (liabilities) before valuation allowances | (190.8) |  |  | (163.7) |
Valuation allowances | 7.0 |  |  | 9.1 |
Adjusted net deferred tax assets (liabilities) | $ | (197.8) |  |  | $ | (172.8) |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration