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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 16.6 $ 238.0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Unrealized loss (gain) on derivative instruments 14.5 (3.7)
Depreciation, depletion and amortization 41.4 41.7
Change in deferred tax provision 2.4 0.6
Bargain purchase gain 0.0 (245.9)
Other non-cash items - net 6.6 (1.8)
Change in operating assets and liabilities:    
Accounts receivable (15.2) (37.4)
Non-trade receivables 11.6 (1.6)
Manufacturing credit receivable (43.1) (23.8)
Due from affiliates 11.3 12.8
Inventories 27.5 9.4
Prepaid and other current assets 3.5 10.0
Accounts payable, trade 18.0 (13.4)
Due to affiliates (11.8) 8.8
Accrued and other current liabilities (3.9) (0.5)
Other - net 0.8 3.5
Net cash provided by (used in) operating activities 80.2 (3.3)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (45.0) (46.6)
Proceeds for joint venture partner's share of co-tenancy assets 11.4 0.0
Proceeds from sale of assets 0.0 2.3
Net cash used in investing activities (33.6) (44.3)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net cash (used in) provided by financing activities (38.8) 0.1
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 7.8 (47.5)
Cash, cash equivalents and restricted cash, beginning of period 35.7 90.3
Cash, cash equivalents and restricted cash, end of period 43.5 42.8
Cash paid for:    
Interest 18.7 16.6
Taxes, net of refunds (0.1) 3.8
Non-cash investing activities:    
Capital expenditures 6.4 5.9
Capitalized interest 0.0 3.4
Distribution of property, plant and equipment to NCI 2.6 8.3
U.S. and Iceland Revolving Credit Facilities    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 586.7 297.9
Repayments under facilities (621.0) (321.6)
Iceland Term Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments under facilities 0.0 (1.2)
Casthouse Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Grundartangi casthouse debt facility 0.0 25.0
Repayments under Grundartangi casthouse debt facility $ (4.5) $ 0.0