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Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of debt

			December 31,
			2022						2021
Debt classified as current liabilities:
Hancock County industrial revenue bonds ("IRBs") due April 2028, interest payable quarterly (variable interest rates (not to exceed 12%)) (1)			$	7.8					$	7.8
U.S. Revolving Credit Facility (2)			90.0						63.6
Iceland Revolving Credit Facility (3)			35.0						50.0
Iceland Term Facility (5)			13.3						—
Debt classified as non-current liabilities:
Grundartangi casthouse facility, net of financing fees of $0.6 million at December 31, 2022 (4)			49.4						—
Iceland Term Facility, net of financing fees of $0.0 million and current portion at December 31, 2022 (5)			1.2						—
7.5% senior secured notes due April 1, 2028, net of financing fees of $3.4 million at December 31, 2022, interest payable semiannually			246.6						245.8
2.75% convertible senior notes due May 1, 2028, net of financing fees of $1.9 million at December 31, 2022, interest payable semiannually			84.4						84.0
Total			$	527.7					$	451.2

(1)The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The interest rate at December 31, 2022 was 3.80%.

(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at December 31, 2022 was 8.00%.

(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at December 31, 2022 was 7.41%.

(4)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at December 31, 2022 was 7.73%.

(5)We incur interest at a rate equal to 3.2% plus EUR EURIBOR 1 month as published by the European Money Markets Institute as defined within the agreement. The interest rate at December 31, 2022 was 4.74%.

Schedule of debt redemption rights

Redemption Rights. Prior to April 1, 2024, we may redeem the 2028 Notes, in whole or in part, at a redemption price equal to 100.00% of the principal amount plus a make-whole premium and accrued and unpaid interest, and if redeemed during the twelve-month period beginning on April 1 of the years indicated below, at the following redemption prices plus accrued and unpaid interest:

Year			Percentage
2024			103.750%
2025			101.875%
2026 and Thereafter			100.000%

Schedule of line of credit facilities

Status of our U.S. revolving credit facility:

			December 31, 2022
Credit facility maximum amount			$	250.0
Borrowing availability			165.5
Outstanding letters of credit issued			34.9
Outstanding borrowings			90.0
Borrowing availability, net of outstanding letters of credit and borrowings			40.6

Status of our Iceland revolving credit facility:

			December 31, 2022
Credit facility maximum amount			$	100.0
Borrowing availability			95.1
Outstanding letters of credit issued			—
Outstanding borrowings			35.0
Borrowing availability, net of outstanding letters of credit and borrowings			60.1

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
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-Subparagraph (SX 210.5-02.19(b),22(b))
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