Unrestricted Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2024

Unrestricted Subsidiaries

Schedule of unrestricted subsidiaries

	Parent
	Company and
	Restricted		Unrestricted				Consolidated
September 30, 2024	Subsidiaries		Subsidiaries		Eliminations		Total
Cash and cash equivalents	$	30.9	$	3.7	$	—	$	34.6
Accounts receivable - trade	$	256.2	$	23.4	$	—	$	279.6
Accounts receivable - other	$	18.6	$	7.4	$	—	$	26.0
Inventory	$	354.7	$	54.8	$	—	$	409.5
Prepaid expenses and other current assets	$	20.3	$	19.8	$	—	$	40.1
Property, plant and equipment, net	$	705.4	$	747.9	$	—	$	1,453.3
Other noncurrent assets, net	$	384.4	$	12.6	$	—	$	397.0
Accounts payable	$	278.7	$	451.7	$	(408.8)	$	321.6
Accrued interest payable	$	41.6	$	1.1	$	—	$	42.7
Obligations under inventory financing agreements	$	—	$	44.8	$	—	$	44.8
Other current liabilities	$	75.2	$	10.2	$	—	$	85.4
Current portion of long-term debt	$	381.4	$	18.9	$	—	$	400.3

Other long-term liabilities	$	152.0	$	1.3	$	—	$	153.3
Long-term debt, less current portion	$	1,236.6	$	520.7	$	(98.3)	$	1,659.0
Redeemable noncontrolling interest	$	—	$	245.6	$	—	$	245.6
Stockholders' equity	$	(228.7)	$	(424.7)	$	(18.8)	$	(672.2)

	Parent
	Company and
	Restricted		Unrestricted				Consolidated
December 31, 2023 (As Recast)	Subsidiaries		Subsidiaries		Eliminations		Total
Cash and cash equivalents	$	7.3	$	0.6	$	—	$	7.9
Accounts receivable - trade	$	230.7	$	21.7	$	—	$	252.4
Accounts receivable - other	$	24.8	$	9.0	$	—	$	33.8
Inventory	$	353.1	$	86.3	$	—	$	439.4
Prepaid expenses and other current assets	$	14.6	$	37.0	$	—	$	51.6
Property, plant and equipment, net	$	731.7	$	774.6	$	—	$	1,506.3
Other noncurrent assets, net	$	436.9	$	13.4	$	—	$	450.3
Accounts payable	$	282.4	$	333.3	$	(293.7)	$	322.0
Accrued interest payable	$	47.8	$	0.9	$	—	$	48.7
Obligations under inventory financing agreements	$	126.0	$	64.4	$	—	$	190.4
Other current liabilities	$	104.5	$	27.0	$	—	$	131.5
Current portion of long-term debt	$	38.8	$	16.9	$	—	$	55.7
Other long-term liabilities	$	50.6	$	3.0	$	—	$	53.6
Long-term debt, less current portion	$	1,381.0	$	548.7	$	(100.0)	$	1,829.7
Redeemable noncontrolling interest	$	—	$	245.6	$	—	$	245.6
Stockholders' equity	$	(174.3)	$	(297.2)	$	(18.8)	$	(490.3)

The following table sets forth certain financial information of the Company’s unrestricted subsidiaries, on a combined basis, for the periods presented (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(In millions)
			(As Restated)				(As Restated)
Sales	$	177.7	$	184.6	$	510.9	$	431.4
Cost of sales		180.6		175.8		543.8		483.0
Gross profit (loss)		(2.9)		8.8		(32.9)		(51.6)
Operating costs and expenses:
General and administrative		6.9		5.8		20.3		15.1
Other operating expense		4.0		0.2		6.8		4.0
Operating income (loss)		(13.8)		2.8		(60.0)		(70.7)
Other income (expense):
Interest expense		(25.9)		(22.7)		(72.4)		(59.5)
Gain (loss) on derivative instruments		(1.6)		(4.6)		4.3		(3.2)
Other income		—		0.7		0.6		0.7
Total other expense		(27.5)		(26.6)		(67.5)		(62.0)
Net loss	$	(41.3)	$	(23.8)	$	(127.5)	$	(132.7)