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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 13.1 $ 18.4 [1]
Receivables:    
Trade receivables, net 378.7 319.7 [1],[2]
Other 39.1 22.2 [1]
Contract assets 69.1 73.4 [1]
Inventories 595.6 601.9 [1],[2]
Prepaid expenses and other current assets 55.0 39.0 [1]
Total current assets 1,150.6 1,074.6 [1]
Property, plant and equipment, net 1,204.9 1,161.2 [1],[2]
Operating lease assets 24.8 27.2 [1]
Deferred tax assets, net 2.6 4.0 [1]
Intangible assets, net 43.2 45.5 [1]
Goodwill 18.8 18.8 [1]
Other assets 67.9 78.6 [1],[2]
Total assets 2,512.8 2,409.9 [1]
Current liabilities:    
Accounts payable 317.8 266.9 [1]
Accrued salaries, wages and related expenses 53.3 54.3 [1]
Other accrued liabilities 55.1 79.3 [1],[2]
Total current liabilities 426.2 400.5 [1]
Long-term portion of operating lease liabilities 23.5 25.2 [1]
Pension and OPEB 71.2 71.4 [1]
Deferred tax liabilities 55.9 44.1 [1]
Long-term liabilities 84.8 84.0 [1],[2]
Long-term debt, net 1,075.2 1,041.6 [1]
Total liabilities 1,736.8 1,666.8 [1]
Commitments and contingencies - Note 7
Stockholders’ equity:    
Preferred stock, 5,000,000 shares authorized at both June 30, 2025 and December 31, 2024; no shares were issued and outstanding at June 30, 2025 and December 31, 2024 0.0 0.0 [1]
Common stock, par value $0.01, 90,000,000 shares authorized at both June 30, 2025 and December 31, 2024; 23,013,025 shares issued and 16,177,739 shares outstanding at June 30, 2025; 22,931,184 shares issued and 16,095,898 shares outstanding at December 31, 2024 0.2 0.2 [1]
Additional paid in capital 1,124.1 1,117.0 [1]
Retained earnings 100.4 81.3 [1]
Treasury stock, at cost, 6,835,286 shares at both June 30, 2025 and December 31, 2024 (475.9) (475.9) [1]
AOCI 27.2 20.5 [1]
Total stockholders’ equity 776.0 743.1 [1],[3]
Total liabilities and stockholders' equity $ 2,512.8 $ 2,409.9 [1]
[1] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[2] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[3] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.