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Multiemployer Pension Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Multiemployer Pension Plan Description and Contributions | The following table presents information about multiemployer pension plans in which we participate:
|  |  |  | Pension |  | FIP/RP Status |  | Contributions of |  |  |  |  |  |  |
|  | Employer |  | Protection Act |  | Pending/ |  | the Company |  |  | Surcharge |  | Expiration Date
|  | Identification |  | Zone Status 1 |  | Implemented |  | Year Ended December 31, |  |  | Imposed |  | of Collective-
Pension Fund |  | Number |  | 2024 |  | 2023 |  | in 2024² |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | in 2024 |  | Bargaining Agreements
|  |  |  |  |  |  |  |  |  | (in millions of dollars) |  |  |  |  |  |  |
USW 3 |  | 23-6648508 |  | Green |  | Green |  | No |  | $ | 4.7 |  |  | $ | 4.2 |  |  | $ | 3.8 |  |  | No |  | Sep 2025 - Nov 2026
Other Funds 4 |  |  |  |  |  |  |  |  |  |  | 1.4 |  |  |  | 1.4 |  |  |  | 1.4 |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | $ | 6.1 |  |  | $ | 5.6 |  |  | $ | 5.2 |  |  |  |  |  |  |
1. The zone status is based on information that we received from the plan and is certified by the plan’s actuary. Among other factors, plans in the green zone are at least 80% funded. 2. The “FIP/RP Status Pending/Implemented” column indicates if a Financial Improvement Plan (“FIP”) or a Rehabilitation Plan (“RP”) is either pending or has been implemented for the plan under the Pension Protection Act. 3. We are party to three collective bargaining agreements with the USW that require contributions to the Steelworkers Pension Trust (“SPT”). As of December 31, 2024, USW collective bargaining agreements covering employees at Newark and Trentwood covered 87% of our USW-represented employees with SPT benefits and expire in September 2025. See Note 18 for information related to the renewal of the collective bargaining agreements. Our monthly contributions per hour worked by each bargaining unit employee at Newark and Trentwood were (in whole dollars) $1.75 in the first half of 2024 and $2.06 in the second half of 2024. The union contracts covering employees at our Richmond, Virginia facility and Florence, Alabama facility cover 10% and 3%, respectively, of our USW-represented employees with SPT benefits and expire in November 2026 and March 2026, respectively. Our monthly contributions per hour worked by each bargaining unit employee at our Richmond, Virginia facility and Florence, Alabama facility were (in whole dollars) $1.50 and $1.35, respectively, in 2024. 4. Other Funds consists of plans that are not individually significant.

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