v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 570.8 $ 10.7
Adjustments to reconcile Net income to net cash provided by operating activities:    
Unrealized loss on derivative instruments 8.8 14.5
Depreciation, depletion and amortization 39.6 47.3
Share-based compensation 11.9 4.7
Net periodic benefit cost 9.5 5.5
Change in deferred tax provision 10.4 2.4
Gain on the sale of Hawesville (287.9) 0.0
Gain on insurance proceeds received for property damage (3.6) 0.0
Other non-cash items - net 5.6 (3.6)
Change in operating assets and liabilities:    
Accounts receivable (40.9) (15.2)
Non-trade receivables (31.7) 11.6
Manufacturing credit receivable (52.6) (43.1)
Due from affiliates 16.5 11.3
Inventories (68.4) 27.5
Prepaid and other current assets (7.0) 3.5
Accounts payable, trade 53.9 18.0
Due to affiliates 1.1 (11.8)
Accrued and other current liabilities 10.5 (3.9)
Other - net (10.5) 0.8
Net cash provided by operating activities 236.0 80.2
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (134.4) (45.0)
Proceeds from the sale of Hawesville 200.0 0.0
Insurance proceeds received for property damage 13.6 0.0
Net cash provided by (used in) investing activities 79.2 (45.0)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of incentive compensation withholding taxes (4.7) 0.0
Contributions from joint venture partner 12.5 11.4
Net cash used in financing activities (61.1) (27.4)
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 254.1 7.8
Cash, cash equivalents and restricted cash, beginning of period 135.6 35.7
Cash, cash equivalents and restricted cash, end of period 389.7 43.5
Cash paid for:    
Interest 18.4 18.7
Taxes, net of refunds 3.1 (0.1)
Non-cash investing activities:    
Capital expenditures 9.7 6.4
U.S. and Iceland Revolving Credit Facilities    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 265.0 586.7
Repayments under revolving credit facilities (326.1) (621.0)
Industrial revenue bonds    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments under Grundartangi casthouse debt facility (7.8) 0.0
Casthouse Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments under Grundartangi casthouse debt facility $ 0.0 $ (4.5)