Supplemental Balance Sheet Information

9 Months Ended

Sep. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

2. Supplemental Balance Sheet Information


	As of September 30, 2025			As of December 31, 2024 As Adjusted1
	(In millions of dollars)
Trade Receivables, Net
Billed trade receivables	$	389.5		$	320.5
Allowance for doubtful receivables		(0.6	)		(0.8	)
Trade receivables, net	$	388.9		$	319.7

Inventories
Finished products	$	144.1		$	130.0
Work-in-process		296.0			229.1
Raw materials		246.8			228.7
Operating supplies		15.4			14.1
Inventories	$	702.3		$	601.9

Property, Plant and Equipment, Net
Land and improvements	$	38.7		$	37.2
Buildings and leasehold improvements		320.9			256.3
Machinery and equipment 2		1,562.9			1,337.4
Construction in progress		128.7			297.5
Property, plant and equipment, gross		2,051.2			1,928.4
Accumulated depreciation and amortization		(851.5	)		(767.5	)
Land held for sale		0.1			0.3
Property, plant and equipment, net	$	1,199.8		$	1,161.2

Other Assets
Assets to be conveyed associated with Warrick acquisition 2	$	—		$	18.3
Restricted cash – Note 12		19.8			19.5
Long-term replacement parts		25.5			18.3
Other		16.4			22.5
Other assets	$	61.7		$	78.6

Other Accrued Liabilities
Uncleared cash disbursements	$	1.4		$	24.5
Accrued income taxes and other taxes payable		11.5			11.1
Accrued annual contribution to Salaried VEBA		—			0.7
Accrued interest		10.5			9.9
Short-term environmental accrual – Note 7		0.7			0.7
Current operating lease liabilities		5.3			6.3
Current finance lease liabilities		2.4			2.4
Current deferred compensation plan liabilities – Note 3		0.4			6.7
Other – Note 5		17.3			17.0
Other accrued liabilities	$	49.5		$	79.3

Long-Term Liabilities
Workers' compensation accrual	$	27.7		$	26.8
Long-term environmental accrual – Note 7		17.5			17.7
Other long-term liabilities		39.2			39.5
Long-term liabilities	$	84.4		$	84.0

Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.

During the quarter ended March 31, 2025, $18.3 million of certain assets associated with our acquisition of Warrick were conveyed to us and placed in service. At September 30, 2025, such assets are presented within Machinery and equipment.