XML 49 R31.htm IDEA: XBRL DOCUMENT
v3.23.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of debt |
|  | June 30, 2023 |  | December 31, 2022
Debt classified as current liabilities: |  |  |  |
Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly (variable interest rates (not to exceed 12%))(1) |  | $ | 7.8 |  |  | $ | 7.8 |
U.S. Revolving Credit Facility(2) |  | 63.2 |  |  | 90.0 |
Iceland Revolving Credit Facility(3) |  | 73.0 |  |  | 35.0 |
Iceland Term Facility(4) |  | 8.6 |  |  | 13.3 |
Debt classified as non-current liabilities: |  |  |  |
Grundartangi casthouse facility, net of financing fees of $0.7 million at June 30, 2023(5) |  | 69.3 |  |  | 49.4 |
Iceland Term Facility, net of financing fees of $0.0 million and current portion at June 30, 2023(4) |  | — |  |  | 1.2 |
7.5% senior secured notes due April 1, 2028, net of financing fees of $3.0 million at June 30, 2023, interest payable semiannually |  | 247.0 |  |  | 246.6 |
2.75% convertible senior notes due May 1, 2028, net of financing fees of $1.7 million at June 30, 2023, interest payable semiannually |  | 84.5 |  |  | 84.4 |
Total |  | $ | 553.4 |  |  | $ | 527.7 |
(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 June 30, 2023 was 4.14%. (2) We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2023 was 9.00%. (3) We incur interest at base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2023 wa s 8.16%. (4) We incur interest at a rate equal to 3.2% plus EUR EURIBOR 1 month as published by the European Money Market Institute as defined within the agreement. The interest rate at June 30, 2023 was 6.46%. (5) We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at June 30, 2023 was 8.63%.
Schedule of line of credit facilities |
Status of our U.S. revolving credit facility: |  | June 30, 2023
Credit facility maximum amount |  | 250.0 |
Borrowing availability |  | 160.0 |
Outstanding letters of credit issued |  | 33.3 |
Outstanding borrowings |  | 63.2 |
Borrowing availability, net of outstanding letters of credit and borrowings |  | 63.5 |
Status of our Iceland revolving credit facility: |  | June 30, 2023
Credit facility maximum amount |  | 100.0 |
Borrowing availability |  | 100.0 |
Outstanding letters of credit issued |  | — |
Outstanding borrowings |  | 73.0 |
Borrowing availability, net of borrowings |  | 27.0 |

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

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfLineOfCreditFacilitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration