XML 37 R26.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Business, Product and Geographical Area Information and Concentration of Risk | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment Reporting [Abstract] |
Business, Product and Geographical Area Information and Concentration of Risk | 17. Business, Product and Geographical Area Information and Concentration of Risk Our primary line of business is the production of semi-fabricated specialty aluminum mill products, such as plate and sheet, bare and coated coils and extruded and drawn products, primarily used in our Aero/HS products, Packaging, GE products, Automotive Extrusions and Other products end markets. We operate 13 focused production facilities in the United States and one in Canada. Our chief operating decision maker reviews and evaluates our business as a single operating segment. At December 31, 2023, approximately 65% of our employees were covered by collective bargaining agreements and 4% of those employees were covered by collective bargaining agreements with expiration dates occurring within one year from December 31, 2023. The following table presents Net sales by end market applications and by timing of control transfer (in millions of dollars):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales: |  |  |  |  |  |  |  |  |
Aero/HS products |  | $ | 899.3 |  |  | $ | 676.1 |  |  | $ | 533.7 |
Packaging |  |  | 1,315.2 |  |  |  | 1,585.3 |  |  |  | 1,119.3 |
GE products |  |  | 596.5 |  |  |  | 883.8 |  |  |  | 706.1 |
Automotive Extrusions |  |  | 254.9 |  |  |  | 254.8 |  |  |  | 225.0 |
Other products |  |  | 21.1 |  |  |  | 27.9 |  |  |  | 37.9 |
Total net sales |  | $ | 3,087.0 |  |  | $ | 3,427.9 |  |  | $ | 2,622.0 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 2,394.8 |  |  | $ | 2,782.9 |  |  | $ | 2,067.9 |
Products transferred over time |  |  | 692.2 |  |  |  | 645.0 |  |  |  | 554.1 |
Total net sales |  | $ | 3,087.0 |  |  | $ | 3,427.9 |  |  | $ | 2,622.0 |
The following table presents geographic information for net sales based on country of origin, income taxes paid, and long-lived assets (in millions of dollars):
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales to unaffiliated customers: |  |  |  |  |  |  |  |  |
Domestic |  | $ | 2,986.0 |  |  | $ | 3,328.2 |  |  | $ | 2,545.0 |
Foreign 1 |  |  | 101.0 |  |  |  | 99.7 |  |  |  | 77.0 |
Total net sales |  | $ | 3,087.0 |  |  | $ | 3,427.9 |  |  | $ | 2,622.0 |
Income taxes paid: |  |  |  |  |  |  |  |  |
Domestic |  | $ | 0.3 |  |  | $ | 3.1 |  |  | $ | 4.5 |
Foreign |  |  | 0.2 |  |  |  | 3.2 |  |  |  | 1.1 |
Total income taxes paid |  | $ | 0.5 |  |  | $ | 6.3 |  |  | $ | 5.6 |
|  | As of December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Long-lived assets: 2 |  |  |  |  |  |  |  |  |
Domestic |  | $ | 1,025.3 |  |  | $ | 984.8 |  |  | $ | 925.3 |
Foreign 1 |  |  | 26.8 |  |  |  | 28.4 |  |  |  | 29.9 |
Total long-lived assets |  | $ | 1,052.1 |  |  | $ | 1,013.2 |  |  | $ | 955.2 |
1. Foreign reflects our London, Ontario production facility. 2. Long-lived assets represent Property, plant and equipment, net. The aggregate foreign currency transaction gain included in determining Net income was immaterial for 2023. The aggregate foreign currency transaction loss included in determining Net loss was $0.5 million for 2022 and immaterial for 2021. Concentrations. For the years ended December 31, 2023, December 31, 2022 and December 31, 2021, one customer represented 18%, 19% and 16%, respectively, of Net sales, and a second customer represented 16%, 14% and 15%, respectively, of Net sales. One customer accounted for 20%, a second customer accounted for 13% and a third customer accounted for 12% of the accounts receivable balance at December 31, 2023. One customer accounted for 17%, a second customer accounted for 14% and a third customer accounted for 13% of the accounts receivable balance at December 31, 2022. The following table presents information about export sales and primary aluminum supply from our major suppliers:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Percentage of Net sales: |  |  |  |  |  |  |  |  |
Export sales |  |  | 10 | % |  |  | 10 | % |  |  | 10 | %
Percentage of total annual primary aluminum supply (lbs): |  |  |  |  |  |  |  |  |
Supply from our top five major suppliers |  |  | 83 | % |  |  | 81 | % |  |  | 78 | %
Supply from our largest supplier |  |  | 37 | % |  |  | 48 | % |  |  | 47 | %
Supply from our second and third largest suppliers combined |  |  | 28 | % |  |  | 20 | % |  |  | 20 | %

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration