XML 10 R2.htm IDEA: XBRL DOCUMENT v3.24.2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 70.4 $ 82.4
Receivables:    
Trade receivables, net 370.1 325.2
Other 13.4 12.4
Contract assets 63.7 58.5
Inventories [1] 446.9 477.2
Prepaid expenses and other current assets 46.0 34.5
Total current assets 1,010.5 990.2
Property, plant and equipment, net 1,084.6 1,052.1
Operating lease assets 29.1 32.6
Deferred tax assets, net 6.0 6.0
Intangible assets, net 47.7 50.0
Goodwill 18.8 18.8
Other assets 119.0 117.7
Total assets 2,315.7 2,267.4
Current liabilities:    
Accounts payable 281.8 252.7
Accrued salaries, wages and related expenses 48.9 53.0
Other accrued liabilities 65.7 64.3
Total current liabilities 396.4 370.0
Long-term portion of operating lease liabilities 26.3 29.2
Pension and other postretirement benefits 77.6 76.8
Net liabilities of Salaried VEBA 3.8 3.8
Deferred tax liabilities 20.6 13.9
Long-term liabilities 88.3 81.7
Long-term debt, net 1,040.7 1,039.8
Total liabilities 1,653.7 1,615.2
Commitments and contingencies - Note 7
Stockholders’ equity:    
Preferred stock, 5,000,000 shares authorized at both June 30, 2024 and December 31, 2023; no shares were issued and outstanding at June 30, 2024 and December 31, 2023
Common stock, par value $0.01, 90,000,000 shares authorized at both June 30, 2024 and December 31, 2023; 22,922,398 shares issued and 16,087,112 shares outstanding at June 30, 2024; 22,851,077 shares issued and 16,015,791 shares outstanding at December 31, 2023 0.2 0.2
Additional paid in capital 1,111.0 1,104.7
Retained earnings 12.5 10.1
Treasury stock, at cost, 6,835,286 shares at both June 30, 2024 and December 31, 2023 (475.9) (475.9)
Accumulated other comprehensive income 14.2 13.1
Total stockholders’ equity 662.0 652.2
Total liabilities and stockholders' equity $ 2,315.7 $ 2,267.4
[1] At June 30, 2024 and December 31, 2023, the current cost of our inventory exceeded its stated last-in, first-out (“LIFO”) value by $83.5 million and $56.0 million, respectively.