XML 47 R35.htm IDEA: XBRL DOCUMENT v3.25.1
Business Segments and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of segment information
The following table presents information about the Company's single segment for the three months ended March 31, 2025 and 2024.
Three months ended
March 31,
20252024
Net sales$633.9 $489.5 
Segment Cost of goods sold(1),(2)
(574.8)(469.5)
IRA Credit(1),(3)
19.9 11.9 
Lower of cost or NRV inventory adjustment(1),(4)
3.1 5.6 
Property and equipment expense(1),(5)
(21.5)(21.0)
Selling, general and administrative expenses(12.5)(14.1)
Other operating expense - net(2.0)(0.5)
Interest expense - affiliates(1.8)(1.8)
Interest expenses - nonaffiliates(10.0)(7.4)
Interest income1.8 0.7 
Net gain (loss) on forward and derivative contracts - nonaffiliates(5.4)3.4 
Net gain (loss) on forward and derivative contracts - affiliates— 4.0 
Bargain purchase gain— 245.9 
Other income (loss) - net(3.4)(1.5)
Income tax expense(1.6)(0.5)
Net income$25.7 $244.7 
(1)Indicates a component of Cost of goods sold.
(2)Includes raw materials, labor, energy, freight costs, FIFO inventory adjustments and other direct cost of goods sold.
(3)Advanced production credit related to Section 45X of the IRA.
(4)Includes inventory revaluation to lower of cost or net realizable value and changes in inventory reserve.
(5)Represents the depreciation expenses and expenses related to leased assets that are directly related the cost of goods sold. Depreciation expense is also a component of Selling, general and administrative expenses.