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STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income [1] $ 44.8 $ 37.1 [2],[3]
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment [1] 57.3 55.5 [4]
Amortization of definite-lived intangible assets [1] 2.3 2.3 [4]
Amortization of debt premium and debt issuance costs [1] 1.1 1.1 [4]
Deferred income taxes [1] 11.2 9.3 [4]
LIFO valuation inventory expense (benefit)   0.0
Non-cash equity compensation [1] 8.9 8.1 [4]
Non-cash asset impairment charge [1],[4],[5]   3.6
Non-cash unrealized loss on derivative positions [1],[4]   2.2
Loss on disposition of property, plant and equipment [1] 1.0 0.5 [4]
Bad debt expense [1],[4]   0.3
Non-cash postretirement and postemployment defined benefit plan cost [1] 4.8 4.3 [4]
Changes in operating assets and liabilities:    
Trade and other receivables [1] (75.9) (46.2) [4]
Contract assets [1] 4.3 (5.2) [4]
Inventories [1] 6.3 14.8 [4]
Prepaid expenses and other current assets [1] (6.7) (10.9) [4]
Accounts payable [1] 45.7 16.1 [4]
Accrued liabilities [1] (26.0) (3.4) [4]
Annual variable cash contributions to Salaried VEBA [1] (0.7) (1.1) [4]
Long-term assets and liabilities, net [1] (5.5) 1.2 [4]
Net cash provided by operating activities [1] 72.9 89.6 [4]
Cash flows from investing activities:    
Capital expenditures [1] (81.8) (73.7) [4]
Purchase of equity securities [1] (0.4) (0.1) [4]
Proceeds from sale of equity securities [1] 0.1 0.2 [4]
Proceeds from disposition of property, plant and equipment [1] 0.2  
Net cash used in investing activities [1] (81.9) (73.6) [4]
Cash flows from financing activities:    
Borrowings under the Revolving Credit Facility [1] 217.6  
Repayment of borrowings under the Revolving Credit Facility [1] (184.8)  
Repayment of finance lease [1] (1.3) (0.9) [4]
Cancellation of shares to cover tax withholdings upon common shares issued [1] (1.8) (1.8) [4]
Cash dividends and dividend equivalents paid [1] (25.7) (25.3) [4]
Net cash provided by (used in) financing activities [1] 4.0 (28.0) [4]
Net decrease in cash, cash equivalents and restricted cash during the period (5.0) (12.0) [4]
Cash, cash equivalents and restricted cash at beginning of period 37.9 100.7 [4]
Cash, cash equivalents and restricted cash at end of period $ 32.9 $ 88.7 [4]
[1] See Note 12 for supplemental cash flow information.
[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.
[4] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[5] Non-cash asset impairment charge for the six months ended June 30, 2024 is comprised of: (i) a $3.2 million inventory write-down related to certain alloying metals and (ii) a $0.4 million impairment charge on land held for sale.