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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 45.7 $ 82.4
Receivables:    
Trade receivables, net 370.2 325.2
Other 0.9 12.4
Contract assets 62.0 58.5
Inventories [1] 473.9 477.2
Prepaid expenses and other current assets 42.2 34.5
Total current assets 994.9 990.2
Property, plant and equipment, net 1,100.4 1,052.1
Operating lease assets 27.6 32.6
Deferred tax assets, net 6.3 6.0
Intangible assets, net 46.6 50.0
Goodwill 18.8 18.8
Other assets 116.8 117.7
Total assets 2,311.4 2,267.4
Current liabilities:    
Accounts payable 275.4 252.7
Accrued salaries, wages and related expenses 51.9 53.0
Other accrued liabilities 54.9 64.3
Total current liabilities 382.2 370.0
Long-term portion of operating lease liabilities 25.2 29.2
Pension and other postretirement benefits 77.6 76.8
Net liabilities of Salaried VEBA 3.7 3.8
Deferred tax liabilities 23.7 13.9
Long-term liabilities 90.8 81.7
Long-term debt, net 1,041.2 1,039.8
Total liabilities 1,644.4 1,615.2
Commitments and contingencies - Note 7
Stockholders’ equity:    
Preferred stock, 5,000,000 shares authorized at both September 30, 2024 and December 31, 2023; no shares were issued and outstanding at September 30, 2024 and December 31, 2023
Common stock, par value $0.01, 90,000,000 shares authorized at both September 30, 2024 and December 31, 2023; 22,923,041 shares issued and 16,087,755 shares outstanding at September 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 1,114.6 1,104.7
Retained earnings 11.8 10.1
Treasury stock, at cost, 6,835,286 shares at both September 30, 2024 and December 31, 2023 (475.9) (475.9)
Accumulated other comprehensive income 16.3 13.1
Total stockholders’ equity 667.0 652.2
Total liabilities and stockholders' equity $ 2,311.4 $ 2,267.4
[1] At September 30, 2024 and December 31, 2023, the current cost of our inventory exceeded its stated last-in, first-out (“LIFO”) value by $81.6 million and $56.0 million, respectively.