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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of debt

			December 31,
			2023						2022
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)			23.7						90.0
Iceland Revolving Credit Facility (3)			—						35.0
Grundartangi Casthouse Facility (4)			5.5						—
Iceland Term Facility (5)			1.3						13.3
Vlissingen Facility Agreement (6)			10.0						—
Debt classified as non-current liabilities:
Grundartangi casthouse facility, net of financing fees of $0.7 million at December 31, 2023 (4)			98.8						49.4
Iceland Term Facility, net of financing fees of $0.0 million and current portion at December 31, 2023 (5)			—						1.2
7.5% senior secured notes due April 1, 2028, net of financing fees of $2.6 million at December 31, 2023, interest payable semiannually			247.4						246.6
2.75% convertible senior notes due May 1, 2028, net of financing fees of $1.5 million at December 31, 2023, interest payable semiannually			84.7						84.4
Total			$	479.2					$	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 December 31, 2023 was 4.00%.

(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at December 31, 2023 was 9.25%.

(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The were no outstanding borrowings at December 31, 2023.

(4)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at December 31, 2023 was 8.86%.

(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, 2023 was 7.05%.

(6)We incur interest at a fixed rate of 8.75%.

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, 2023
Credit facility maximum amount			$	250.0
Borrowing availability			128.8
Outstanding letters of credit issued			61.4
Outstanding borrowings			23.7
Borrowing availability, net of outstanding letters of credit and borrowings			43.7

Status of our Iceland revolving credit facility:			December 31, 2023
Credit facility maximum amount			$	100.0
Borrowing availability			100.0
Outstanding letters of credit issued			—
Outstanding borrowings			—
Borrowing availability, net of outstanding letters of credit and borrowings			100.0

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+ 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

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