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Debt (Tables)

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Schedule of debt

						September 30, 2025						December 31, 2024
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)						—						20.0
Iceland Revolving Credit Facility(3)						16.5						34.0
Grundartangi Casthouse Facility, net of financing fees of $1.5 million at September 30, 2025(4)						115.0						9.0
Debt classified as non-current liabilities:
Grundartangi Casthouse Facility(4)						—						114.2
Vlissingen Credit Facility(5)						—						10.0
7.5% senior secured notes due April 1, 2028						—						248.1
2.75% convertible senior notes due May 1, 2028, net of financing fees of $0.9 million at September 30, 2025, interest payable semiannually						85.4						85.1
6.875% senior secured notes due August 1, 2032, net of financing fees of $6.1 million at September 30, 2025, interest payable semiannually						393.8						—
Total						$	618.5					$	528.2

(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 September 30, 2025 was 3.02%.

(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at September 30, 2025 was 7.75%.

(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at September 30, 2025 was 7.66%.

(4)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at September 30, 2025 was 7.89%.

(5)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at September 30, 2025 was 7.83%.

Schedule of line of credit facilities

Status of our U.S. revolving credit facility:						September 30, 2025
Credit facility maximum amount						$	250.0
Borrowing availability						212.8
Outstanding letters of credit issued						49.5
Outstanding borrowings						—
Borrowing availability, net of outstanding letters of credit and borrowings						163.3

Status of our Iceland revolving credit facility:						September 30, 2025
Credit facility maximum amount						$	100.0
Borrowing availability						100.0
Outstanding letters of credit issued						—
Outstanding borrowings						16.5
Borrowing availability, net of borrowings						83.5

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- 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.

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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
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22)(b))
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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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