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v3.25.4

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2025
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,
| 2025 |  | 2024 |  | 2023
| (in millions)
Current: |  |  |  |  |
Federal | $ | 1.4 |  |  | $ | 3.7 |  |  | $ | 3.0 |
State | 4.7 |  |  | 4.6 |  |  | 1.9 |
Foreign | 0.8 |  |  | 2.8 |  |  | — |
Total current | 6.9 |  |  | 11.1 |  |  | 4.9 |
Deferred: |  |  |  |  |
Federal | 30.7 |  |  | 15.1 |  |  | 25.0 |
State | (0.7) |  |  | 6.4 |  |  | 4.1 |
Foreign | (4.0) |  |  | 3.7 |  |  | 2.7 |
Total deferred | 26.0 |  |  | 25.2 |  |  | 31.8 |
Provision | $ | 32.9 |  |  | $ | 36.3 |  |  | $ | 36.7 |
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,
| 2025
| (in millions) |  |
Federal statutory tax rate | $ | 50.7 |  |  | 21.0 | %
State and local income taxes, net of federal income tax effect(1) | 3.0 |  |  | 1.2 |
Foreign tax effects |  |  |
Mexico |  |  |
Currency adjustments | (7.3) |  |  | (3.0) |
Nondeductible expenses | 3.3 |  |  | 1.4 |
Other | (0.6) |  |  | (0.2) |
Other foreign jurisdictions | 0.2 |  |  | 0.1 |
Tax credits |  |  |
AMP tax credits | (14.2) |  |  | (5.9) |
Nontaxable or nondeductible items |  |  |
Statutory depletion | (4.9) |  |  | (2.0) |
Other | 2.7 |  |  | 1.0 |
Effective rate | $ | 32.9 |  |  | 13.6 | %
(1) State taxes in Tennessee, New Jersey, Kansas, California, Montana, Oklahoma, Arizona, Kentucky, Minnesota, Florida, New Mexico, Missouri, and Alabama made up a majority (greater than 50%) of the tax effect in this category.
|  |  | Year Ended December 31,
|  |  | 2024 |  | 2023
Statutory rate |  |  | 21.0 | % |  | 21.0 | %
State taxes, including prior year true-ups |  |  | 7.5 |  |  | 2.3 |
AMP tax credits |  |  | (8.2) |  |  | (3.5) |
Statutory depletion |  |  | (3.2) |  |  | (2.1) |
Changes in valuation allowances and reserves |  |  | (1.1) |  |  | 1.8 |
Prior year true-ups |  |  | 0.4 |  |  | (0.5) |
Foreign adjustments |  |  | 1.5 |  |  | 1.8 |
Currency adjustments |  |  | 4.8 |  |  | (2.6) |
Compensation related items |  |  | 0.5 |  |  | — |
Divestiture-related non-deductible goodwill |  |  | 3.3 |  |  | — |
Other, net |  |  | 1.4 |  |  | 0.5 |
Effective rate |  |  | 27.9 | % |  | 18.7 | %
Income taxes paid, net of refunds | The income taxes paid, net of refunds, by the Company, including jurisdictions where income taxes paid, net of refunds, exceed 5 percent of the total income taxes paid, net of refunds, are as follows:
| Year Ended December 31,
| 2025 |  |  |  |
| (in millions) |  |  |  |
Federal | $ | 15.0 |  |  |  |  |
State and local |  |  |  |  |
New Jersey | 6.0 |  |  |  |  |
Iowa | (2.1) |  |  |  |  |
California | 1.6 |  |  |  |  |
Tennessee | 1.5 |  |  |  |  |
Other | 4.0 |  |  |  |  |
State and local | 11.0 |  |  |  |  |
Foreign |  |  |  |  |
Other | 0.4 |  |  |  |  |
Foreign | 0.4 |  |  |  |  |
Total income taxes paid, net of refunds | $ | 26.4 |  |  |  |  |
Components of deferred tax liabilities and assets | The components of deferred tax liabilities and assets are as follows:
| December 31,
| 2025 |  | 2024
| (in millions)
Deferred tax liabilities: |  |  |
Depreciation, depletion, and amortization | $ | 269.0 |  |  | $ | 248.7 |
Total deferred tax liabilities | 269.0 |  |  | 248.7 |
Deferred tax assets: |  |  |
Workers compensation and other benefits | 11.2 |  |  | 12.3 |
Tax carryforwards and credits | 33.3 |  |  | 36.9 |
Inventory | 3.4 |  |  | 6.1 |
Accrued liabilities and other | 4.7 |  |  | 2.6 |
Total deferred tax assets | 52.6 |  |  | 57.9 |
Net deferred tax assets (liabilities) before valuation allowances | (216.4) |  |  | (190.8) |
Valuation allowances | 7.2 |  |  | 7.0 |
Net deferred tax assets (liabilities) | $ | (223.6) |  |  | $ | (197.8) |

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