v3.26.3
Business, Product and Geographical Area Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Significant Segment Expenses Provided to CODM

The following table presents the significant segment expenses that are provided to the CODM:

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net sales

 

$

1,214.5

 

 

$

843.5

 

 

$

3,577.9

 

 

$

2,444.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of products sold, excluding depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

Hedged cost of alloyed metal1

 

 

775.4

 

 

 

492.8

 

 

 

2,297.4

 

 

 

1,355.9

 

Manufacturing costs2

 

 

241.0

 

 

 

158.8

 

 

 

554.7

 

 

 

532.5

 

Plant overhead3

 

 

47.5

 

 

 

45.9

 

 

 

142.7

 

 

 

136.0

 

Freight costs

 

 

27.1

 

 

 

21.6

 

 

 

77.4

 

 

 

63.6

 

Other cost of products sold4

 

 

7.8

 

 

 

9.7

 

 

 

27.4

 

 

 

37.0

 

Depreciation and amortization

 

 

27.9

 

 

 

32.0

 

 

 

87.9

 

 

 

91.6

 

Selling, general, administrative, research and development

 

 

 

 

 

 

 

 

 

 

 

 

Research and development costs

 

 

0.5

 

 

 

0.4

 

 

 

1.8

 

 

 

1.0

 

Employee costs5

 

 

21.9

 

 

 

24.7

 

 

 

74.7

 

 

 

69.9

 

Other selling, general and administrative costs6

 

 

9.7

 

 

 

8.8

 

 

 

26.7

 

 

 

26.4

 

Restructuring costs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.9

 

Other operating charges, net

 

 

0.5

 

 

 

—

 

 

 

0.5

 

 

 

—

 

Interest expense

 

 

14.2

 

 

 

12.4

 

 

 

43.1

 

 

 

36.1

 

Other expense (income), net – Note 8

 

 

0.8

 

 

 

(11.4

)

 

 

(5.3

)

 

 

(14.4

)

Income tax provision

 

 

9.2

 

 

 

8.3

 

 

 

58.6

 

 

 

22.2

 

Net income

 

$

31.0

 

 

$

39.5

 

 

$

190.3

 

 

$

84.3

 

 

1.
Hedged cost of alloyed metal includes cost of aluminum at the MWTP and the cost of alloying elements used in the production process. This metric is net of metal price exposure on shipments that we hedged with realized (losses) gains upon settlement of ($7.4) million and $10.2 million for the quarters ended September 30, 2026 and September 30, 2025, respectively, and $11.5 million and $15.4 million for the nine months ended September 30, 2026 and September 30, 2025, respectively.
2.
Manufacturing costs primarily includes labor, utilities, supplies, metal valuation impacts, metal profits, and other materials, excluding alloys, incurred at our various production facilities.
3.
Plant overhead includes salaried employee costs, property taxes, and insurance associated with our various production facilities.
4.
Other cost of products sold primarily includes accretion expense related to conditional asset retirement obligations, gains and losses on operating asset disposals, and major maintenance costs.
5.
Employee costs include indirect labor salaries, benefits, and incentive compensation.
6.
Other selling, general and administrative costs primarily includes professional services, computer hardware and software costs, office rent, and utilities.
Schedule of Net Sales by End Market Segment Applications

The following table presents Net sales by end market applications and by timing of control transfer:

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

Aero/HS Products

 

$

291.9

 

 

$

182.2

 

 

$

884.0

 

 

$

624.8

 

Packaging

 

 

561.4

 

 

 

393.9

 

 

 

1,640.2

 

 

 

1,049.0

 

GE Products

 

 

278.3

 

 

 

192.2

 

 

 

799.3

 

 

 

559.2

 

Automotive Extrusions

 

 

82.9

 

 

 

75.2

 

 

 

254.4

 

 

 

211.0

 

Total net sales

 

$

1,214.5

 

 

$

843.5

 

 

$

3,577.9

 

 

$

2,444.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Timing of revenue recognition:

 

 

 

 

 

 

 

 

 

 

 

 

Products transferred at a point in time

 

$

963.8

 

 

$

670.7

 

 

$

2,809.0

 

 

$

1,888.1

 

Products transferred over time

 

 

250.7

 

 

 

172.8

 

 

 

768.9

 

 

 

555.9

 

Total net sales

 

$

1,214.5

 

 

$

843.5

 

 

$

3,577.9

 

 

$

2,444.0

 
Schedule of Income Taxes Paid by Geographical Area

The following table presents geographic information for income taxes paid:

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Income taxes paid:

 

 

 

 

 

 

 

 

 

 

 

 

Domestic

 

$

2.4

 

 

$

—

 

 

$

10.3

 

 

$

2.6

 

Foreign

 

 

0.7

 

 

 

0.9

 

 

 

2.0

 

 

 

3.6

 

Total income taxes paid

 

$

3.0

 

 

$

0.9

 

 

$

12.3

 

 

$

6.2