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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Open Forward Foreign Currency Contract | We had the following notional amounts of outstanding forward contracts to buy and sell foreign currency:
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Notional Value - Foreign Currency | ($ in millions)
Buy | $ | — |  |  | $ | — |  |  | $ | — |
Sell | 141.0 |  |  | 133.7 |  |  | 148.8 |
Schedule of derivative instruments | We had the following notional amounts of outstanding commodity contracts that were entered into to hedge forecasted purchases:
| September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
Notional Value - Commodity | ($ in millions)
Natural gas | $ | 66.1 |  |  | $ | 57.4 |  |  | $ | 64.3 |
Ethane | 37.4 |  |  | 22.6 |  |  | 24.3 |
Metals | 130.7 |  |  | 124.5 |  |  | 118.6 |
Total notional | $ | 234.2 |  |  | $ | 204.5 |  |  | $ | 207.2 |
Summary of location and fair value of derivative instruments on condensed balance sheets | The following table summarizes the location and fair value of the derivative instruments on our condensed balance sheets:
|  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2024
| Balance Sheet Location | ($ in millions)
Current Assets |  |  |  |  |  |
Commodity contracts | Other current assets | $ | 8.7 |  |  | $ | 11.9 |  |  | $ | 16.0 |
Foreign currency contracts | Other current assets | 0.1 |  |  | 2.6 |  |  | — |
Noncurrent Assets |  |  |  |  |  |
Commodity contracts | Other assets | 2.6 |  |  | 2.0 |  |  | 4.7 |
Total derivative assets(1) |  | $ | 11.4 |  |  | $ | 16.5 |  |  | $ | 20.7 |
Current Liabilities |  |  |  |  |  |
Commodity contracts | Accrued liabilities | $ | 3.9 |  |  | $ | 3.3 |  |  | $ | 6.4 |
Foreign currency contracts | Accrued liabilities | 1.1 |  |  | — |  |  | 3.4 |
Noncurrent Liabilities |  |  |  |  |  |
Commodity contracts | Other liabilities | — |  |  | 0.4 |  |  | — |
Total derivative liabilities(1) |  | $ | 5.0 |  |  | $ | 3.7 |  |  | $ | 9.8 |
(1) Does not include the impact of cash collateral received from or provided to counterparties, if any.
Summary of effects of derivative instruments on condensed statements of income | The following table summarizes the effects of derivative instruments on our condensed statements of operations:
|  |  | Amount of Gain (Loss) for the
|  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  |  | 2025 |  | 2024 |  | 2025 |  | 2024
| Location of Gain (Loss) |  | ($ in millions)
Cash Flow Hedges |  |  |  |  |  |  |  |  |
Commodity contracts | Other comprehensive income (loss) |  | $ | (11.3) |  |  | $ | (1.0) |  |  | $ | 9.6 |  |  | $ | 13.1 |
Commodity contracts | Cost of goods sold |  | (8.5) |  |  | (7.2) |  |  | 12.4 |  |  | (25.8) |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |
Foreign exchange contracts | Selling and administrative |  | (3.5) |  |  | (6.1) |  |  | (17.8) |  |  | 3.4 |

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