Inventories, net

6 Months Ended

Jun. 30, 2025

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

In millions	June 30, 2025		December 31, 2024
Raw materials	$	61.5	$	97.6
Production materials, stores, and supplies	26.3		25.0
Finished and in-process goods	178.0		186.2
Subtotal	$	265.8	$	308.8
Less: LIFO reserve	(45.5)		(82.0)
Inventories, net	$	220.3	$	226.8

During the six months ended June 30, 2025, lower raw material prices, primarily Crude Tall Oil ("CTO") within our Performance Chemicals reportable segment domestic inventory, resulted in a reduction to our LIFO reserve. Additionally, LIFO inventory quantities, primarily in our Performance Chemicals reportable segment domestic inventory, were reduced, which led to liquidations of LIFO inventory quantities. These planned reductions in inventory are not expected to be replaced by the end of the year and have resulted in a pre-tax decrease to the LIFO reserve of $6.5 million, recorded in "Cost of sales" on our condensed consolidated statement of operations.