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v3.26.1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | We had the following notional amounts of outstanding commodity contracts that were entered into to hedge forecasted purchases:
| June 30, 2026 |  | December 31, 2025 |  | June 30, 2025
Commodity Notional Value | ($ in millions)
Natural gas | $ | 98.4 |  |  | $ | 93.9 |  |  | $ | 50.1 |
Ethane | 42.2 |  |  | 34.7 |  |  | 47.3 |
Metals | 76.0 |  |  | 90.0 |  |  | 72.6 |
Total notional | $ | 216.6 |  |  | $ | 218.6 |  |  | $ | 170.0 |
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:
|  | June 30, 2026 |  | December 31, 2025 |  | June 30, 2025
| Balance Sheet Location | ($ in millions)
Current Assets |  |  |  |  |  |
Commodity contracts | Other current assets | $ | 12.1 |  |  | $ | 20.5 |  |  | $ | 10.2 |
Foreign currency contracts | Other current assets | 0.2 |  |  | — |  |  | 0.1 |
Noncurrent Assets |  |  |  |  |  |
Commodity contracts | Other assets | 2.0 |  |  | 3.3 |  |  | 2.7 |
Total derivative assets(1) |  | $ | 14.3 |  |  | $ | 23.8 |  |  | $ | 13.0 |
Current Liabilities |  |  |  |  |  |
Commodity contracts | Accrued liabilities | $ | 12.2 |  |  | $ | 16.0 |  |  | $ | 2.7 |
Foreign currency contracts | Accrued liabilities | 0.5 |  |  | 0.6 |  |  | 1.8 |
Noncurrent Liabilities |  |  |  |  |  |
Commodity contracts | Other liabilities | 1.7 |  |  | — |  |  | — |
Total derivative liabilities(1) |  | $ | 14.4 |  |  | $ | 16.6 |  |  | $ | 4.5 |
(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 June 30, |  | Six Months Ended June 30,
|  |  | 2026 |  | 2025 |  | 2026 |  | 2025
| Location of Gain (Loss) |  | ($ in millions)
Cash Flow Hedges |  |  |  |  |  |  |  |  |
Commodity contracts | Other comprehensive income (loss) |  | $ | 0.2 |  |  | $ | (13.5) |  |  | $ | (5.4) |  |  | $ | 20.9 |
Commodity contracts | Cost of goods sold |  | (1.7) |  |  | 12.8 |  |  | 2.2 |  |  | 20.9 |
Not Designated as Hedging Instruments |  |  |  |  |  |  |  |
Foreign exchange contracts | Selling and administrative |  | (2.8) |  |  | (7.3) |  |  | (8.1) |  |  | (14.3) |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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