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STATEMENTS OF CONSOLIDATED STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common Stock
Additional Paid in Capital
Retained Earnings
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2023 $ 652.2 [1] $ 0.2 $ 1,104.7 $ 10.1 [1] $ (475.9) $ 13.1
Beginning balance (Cumulative Effect of Change in Inventory Valuation Methodology, Net of Tax) at Dec. 31, 2023 [1] 56.2     56.2    
Beginning balance (shares) at Dec. 31, 2023   16,015,791        
Net income [1] 18.2     18.2    
Other comprehensive (loss) income, net of tax (2.1) [1]         (2.1)
Common shares issued (including impacts from Long-Term Incentive programs) (shares)   56,416        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (1.2) [1]   (1.2)      
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares)   (16,175)        
Cash dividends declared [1],[2] (12.6)     (12.6)    
Amortization of unearned equity compensation 4.0 [1]   4.0      
Ending balance at Mar. 31, 2024 [1] 714.7 $ 0.2 1,107.5 71.9 (475.9) 11.0
Ending balance (shares) at Mar. 31, 2024 [1]   16,056,032        
Beginning balance at Dec. 31, 2023 652.2 [1] $ 0.2 1,104.7 10.1 [1] (475.9) 13.1
Beginning balance (Cumulative Effect of Change in Inventory Valuation Methodology, Net of Tax) at Dec. 31, 2023 [1] 56.2     56.2    
Beginning balance (shares) at Dec. 31, 2023   16,015,791        
Net income [3],[4],[5] 45.9          
Other comprehensive (loss) income, net of tax [4] 3.2          
Ending balance at Sep. 30, 2024 729.4 [1] $ 0.2 1,114.6 74.2 [1] (475.9) 16.3
Ending balance (shares) at Sep. 30, 2024   16,087,755        
Beginning balance at Mar. 31, 2024 [1] 714.7 $ 0.2 1,107.5 71.9 (475.9) 11.0
Beginning balance (shares) at Mar. 31, 2024 [1]   16,056,032        
Net income [1] 18.9     18.9    
Other comprehensive (loss) income, net of tax 3.2 [1]         3.2
Common shares issued (including impacts from Long-Term Incentive programs) 0.5 [1]   0.5      
Common shares issued (including impacts from Long-Term Incentive programs) (shares)   38,143        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (0.6) [1]   (0.6)      
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares)   (7,063)        
Cash dividends declared [1] (12.7)     (12.7)    
Amortization of unearned equity compensation 3.6 [1]   3.6      
Ending balance at Jun. 30, 2024 [1] 727.6 $ 0.2 1,111.0 78.1 (475.9) 14.2
Ending balance (shares) at Jun. 30, 2024 [1]   16,087,112        
Net income 8.8 [3],[4]     8.8 [1]    
Other comprehensive (loss) income, net of tax 2.1 [4]         2.1
Common shares issued (including impacts from Long-Term Incentive programs) 0.1 [1]   0.1      
Common shares issued (including impacts from Long-Term Incentive programs) (shares)   1,000        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares)   (357)        
Cash dividends declared [1] (12.7)     (12.7)    
Amortization of unearned equity compensation 3.5 [1]   3.5      
Ending balance at Sep. 30, 2024 729.4 [1] $ 0.2 1,114.6 74.2 [1] (475.9) 16.3
Ending balance (shares) at Sep. 30, 2024   16,087,755        
Beginning balance at Dec. 31, 2024 [6] $ 743.1 [7] $ 0.2 1,117.0 81.3 (475.9) 20.5
Beginning balance (shares) at Dec. 31, 2024 16,095,898 16,095,898 [6],[8]        
Net income $ 21.6     21.6    
Other comprehensive (loss) income, net of tax 2.6         2.6
Common shares issued (including impacts from Long-Term Incentive programs) (shares) [8]   84,115        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (1.8)   (1.8)      
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares) [8]   (25,637)        
Cash dividends declared [9] (12.9)     (12.9)    
Amortization of unearned equity compensation 4.2   4.2      
Ending balance at Mar. 31, 2025 756.8 $ 0.2 1,119.4 90.0 (475.9) 23.1
Ending balance (shares) at Mar. 31, 2025 [8]   16,154,376        
Beginning balance at Dec. 31, 2024 [6] $ 743.1 [7] $ 0.2 1,117.0 81.3 (475.9) 20.5
Beginning balance (shares) at Dec. 31, 2024 16,095,898 16,095,898 [6],[8]        
Net income [5] $ 84.3          
Other comprehensive (loss) income, net of tax 6.2          
Ending balance at Sep. 30, 2025 $ 806.1 $ 0.2 1,128.0 127.1 (475.9) 26.7
Ending balance (shares) at Sep. 30, 2025 16,206,255 16,206,255 [8]        
Beginning balance at Mar. 31, 2025 $ 756.8 $ 0.2 1,119.4 90.0 (475.9) 23.1
Beginning balance (shares) at Mar. 31, 2025 [8]   16,154,376        
Net income 23.2     23.2    
Other comprehensive (loss) income, net of tax 4.1         4.1
Common shares issued (including impacts from Long-Term Incentive programs) 0.4   0.4      
Common shares issued (including impacts from Long-Term Incentive programs) (shares) [8]   23,582        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares) [8]   (219)        
Cash dividends declared [6] (12.8)     (12.8)    
Amortization of unearned equity compensation 4.3   4.3      
Ending balance at Jun. 30, 2025 776.0 $ 0.2 1,124.1 100.4 (475.9) 27.2
Ending balance (shares) at Jun. 30, 2025 [8]   16,177,739        
Net income 39.5     39.5    
Other comprehensive (loss) income, net of tax (0.5)         (0.5)
Common shares issued (including impacts from Long-Term Incentive programs) 0.1   0.1      
Common shares issued (including impacts from Long-Term Incentive programs) (shares) [8]   42,894        
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (1.1)   (1.1)      
Cancellation of shares to cover employees' tax withholdings upon vesting of non-vested shares/common shares issued (shares) [8]   (14,378)        
Cash dividends declared [6] (12.8)     (12.8)    
Amortization of unearned equity compensation 4.9   4.9      
Ending balance at Sep. 30, 2025 $ 806.1 $ 0.2 $ 1,128.0 $ 127.1 $ (475.9) $ 26.7
Ending balance (shares) at Sep. 30, 2025 16,206,255 16,206,255 [8]        
[1] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[2] Dividends declared per common share were $0.77 for each of the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024.
[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] See Note 12 for supplemental cash flow information.
[6] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[7] Adjusted to reflect the retrospective change in inventory valuation methodology from LIFO to WAC. See Note 14 for further discussion.
[8] At September 30, 2025, 449,765 shares were available for awards under the Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan, as amended and restated.
[9] Dividends declared per common share were $0.77 for each of the quarters ended March 31, 2025, June 30, 2025, and September 30, 2025.