XML 30 R15.htm IDEA: XBRL DOCUMENT v3.25.3
Government Funding
 9 Months Ended
Sep. 30, 2025
Government Assistance [Abstract]  
Government Funding

Note 4 - Government Funding

 

On February 27, 2024, the Company entered into an agreement with the United States Army ("U.S. Army"). The agreement provides for $99.75 million in funding to support the U.S. Army's mission of increasing munitions production for national security in the upcoming years. The agreement supports the commissioning of two major assets: a continuous bloom reheat furnace and a roller hearth heat treat furnace. For the three and nine months ended September 30, 2025, the Company received $10.0 million and $28.0 million, respectively, in funding related to this agreement and recorded the funding as a current liability on the Consolidated Balance Sheets and as investing within the Consolidated Cash Flows. For the three and nine months ended September 30, 2025 there was $22.0 million and $51.2 million, respectively, in capital spending related to assets associated with this agreement.

 

In October 2025, the Company received an additional $4.1 million in government funding related to this agreement.

For further details, refer to Metallus' “Note 2 - Significant Accounting Policies” in its annual report on Form 10K for the year ended December 31, 2024.