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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivatives not designated as hedging instruments | The following tables set forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of March 31, 2025 and December 31, 2024, respectively:
|  | Asset Fair Value
|  | March 31, 2025 |  | December 31, 2024
Commodity contracts(1) |  | $ | 8.1 |  |  | $ | 4.5 |
|  | Liability Fair Value
|  | March 31, 2025 |  | December 31, 2024
Commodity contracts(1) |  | $ | 11.4 |  |  | $ | 4.4 |
(1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, Indy Hub power price swaps, fixed for floating swaps, and HFO price swaps. At March 31, 2025, and December 31, 2024, there were no commodity contracts with Glencore.
Schedule of derivative instruments | The following table summarizes the net (loss) gain on forward and derivative contracts:
|  |  |  | Three months ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Commodity contracts(1) |  |  |  |  |  | $ | (5.5) |  |  | $ | 7.3 |
Foreign exchange contracts |  |  |  |  |  | — |  |  | 0.1 |
Total |  |  |  |  |  | $ | (5.5) |  |  | $ | 7.4 |
(1)For the three months ended March 31, 2025, there were no forward and derivative contracts with Glencore. For the three months ended March 31, 2024, $4.0 million of the net gain was with Glencore.

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