v3.25.2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Open Forward Foreign Currency Contract We had the following notional amounts of outstanding forward contracts to buy and sell foreign currency:
 June 30, 2025December 31, 2024June 30, 2024
Notional Value - Foreign Currency($ in millions)
Buy$— $— $5.3 
Sell145.3 133.7 157.0 
Schedule of derivative instruments
We had the following notional amounts of outstanding commodity contracts that were entered into to hedge forecasted purchases:
 June 30, 2025December 31, 2024June 30, 2024
Notional Value - Commodity($ in millions)
Natural gas$50.1 $57.4 $47.1 
Ethane47.3 22.6 24.1 
Metals72.6 124.5 136.9 
Total notional$170.0 $204.5 $208.1 
Summary of location and fair value of derivative instruments on condensed balance sheets
The following table summarizes the location and fair value of the derivative instruments on our condensed balance sheets:
 June 30, 2025December 31, 2024June 30, 2024
Balance Sheet Location($ in millions)
Current Assets
Commodity contractsOther current assets$10.2 $11.9 $14.9 
Foreign currency contractsOther current assets0.1 2.6 — 
Noncurrent Assets
Commodity contractsOther assets2.7 2.0 6.0 
Total derivative assets(1)
$13.0 $16.5 $20.9 
Current Liabilities
Commodity contractsAccrued liabilities$2.7 $3.3 $12.9 
Foreign currency contractsAccrued liabilities1.8 — (3.8)
Noncurrent Liabilities
Commodity contractsOther liabilities— 0.4 — 
Total derivative liabilities(1)
$4.5 $3.7 $9.1 
(1)     Does not include the impact of cash collateral received from or provided to counterparties, if any.
Summary of effects of derivative instruments on condensed statements of income
The following table summarizes the effects of derivative instruments on our condensed statements of operations:
  Amount of Gain (Loss) for the
  Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Location of Gain (Loss)($ in millions)
Cash Flow Hedges
Commodity contractsOther comprehensive income (loss)$(13.5)$17.1 $20.9 $14.1 
Commodity contractsCost of goods sold12.8 (5.3)20.9 (18.6)
Not Designated as Hedging Instruments  
Foreign exchange contractsSelling and administrative(7.3)8.7 (14.3)9.5