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Income Tax Provision | 9 Months Ended
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Sep. 30, 2025
Income Tax Disclosure [Abstract] |
Income Tax Provision | Note 8 - Income Tax Provision Metallus’ provision for income taxes in interim periods is computed by applying the appropriate estimated annual effective tax rates to income or loss before income taxes for the period. In addition, non-recurring or discrete items, including interest on prior-year tax liabilities, are recorded during the periods in which they occur.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Provision (benefit) for incomes taxes |  | $ | 2.8 |  |  | $ | (1.2 | ) |  | $ | 9.3 |  |  | $ | 6.3 |
Effective tax rate |  |  | 25.7 | % |  |  | 16.9 | % |  |  | 41.5 | % |  |  | 21.7 | %
Income tax expense for the three months ended September 30, 2025 was calculated using forecasted multi-jurisdictional annual effective tax rates to determine a blended annual effective tax rate. The effective tax rate for the months ended September 30, 2025 was 25.7% compared to 16.9% in the three months ended September 30, 2024. The increase in the effective tax rate for the three months ended September 30, 2025 is primarily related to being in a taxable income position in the third quarter of 2025. The effective tax rate for the nine months ended September 30, 2025 was 41.5% compared to 21.7% in 2024. The increase in the effective tax rate for the nine months ended September 30, 2025 was primarily due to the limitations on the tax deductibility of the loss on extinguishment of debt on the Convertible Senior Notes due 2025, partially offset by lower net income. For the nine months ended September 30, 2025, Metallus made $0.2 million in state and local tax payments, and $0.1 million in foreign tax payments, and no U.S. federal tax payments. For the nine months ended September 30, 2024, Metallus made $21.5 million in U.S. federal payments, $6.1 million in state and local tax payments, and $0.2 million in foreign tax payments. On July 4, 2025, the reconciliation bill, commonly referred to as the One Big Beautiful Bill Act (“OBBBA”) was signed into law, which includes a broad range of tax reform provisions, including provisions related to fixed asset bonus depreciation and research and development expenditures, that may affect the Company's financial results. The Company does not expect these provisions to have a material impact on the annual effective tax rate in 2025.The Company is currently evaluating the impact of provisions taking effect in future years, which could affect the Company’s effective tax rate, deferred tax assets, and cash taxes in future periods.

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