v3.26.1
STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income [1] $ 159.3 $ 44.8
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment [1] 57.8 57.3
Amortization of definite-lived intangible assets [1] 2.2 2.3
Amortization of debt issuance costs [1] 1.3 1.1
Deferred income taxes [1] 36.6 11.2
Non-cash equity compensation [1] 10.8 8.9
Non-cash asset impairment charge [1] 0.7  
(Gain) loss on disposition of property, plant and equipment [1] (4.3) 1.0
Bad debt expense [1] 0.1  
Non-cash postretirement and postemployment defined benefit plan cost [1] 4.2 4.8
Changes in operating assets and liabilities:    
Receivables [1] (151.8) (75.9)
Contract assets [1] (8.9) 4.3
Inventories [1] (123.6) 6.3
Prepaid expenses and other current assets [1] (10.8) (6.7)
Accounts payable [1] 229.0 45.7
Accrued liabilities [1] (48.8) (26.0)
Annual variable cash contributions to Salaried VEBA [1] (2.9) (0.7)
Long-term assets and liabilities, net [1] (3.5) (5.5)
Net cash provided by operating activities [1] 147.4 72.9
Cash flows from investing activities:    
Capital expenditures [1] (43.8) (81.8)
Purchase of equity securities [1] (0.5) (0.4)
Proceeds from sale of equity securities [1]   0.1
Proceeds from disposition of property, plant and equipment [1] 7.6 0.2
Net cash used in investing activities [1] (36.7) (81.9)
Cash flows from financing activities:    
Borrowings under the Revolving Credit Facility [1] 397.8 217.6
Repayment of borrowings under the Revolving Credit Facility [1] (420.1) (184.8)
Repayment of finance lease [1] (1.6) (1.3)
Cancellation of shares to cover tax withholdings upon common shares issued [1] (8.9) (1.8)
Cash dividends and dividend equivalents paid [1] (26.4) (25.7)
Net cash (used in) provided by financing activities [1] (59.2) 4.0
Net increase (decrease) in cash, cash equivalents and restricted cash during the period 51.5 (5.0)
Cash, cash equivalents and restricted cash at beginning of period 26.9 37.9
Cash, cash equivalents and restricted cash at end of period $ 78.4 $ 32.9
[1] See Note 11 for supplemental cash flow information.