Business, Product and Geographical Area Information and Concentration of Risk (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Significant Segment Expenses Provided to CODM

The following table provides the significant segment expenses that are provided to the CODM (in millions of dollars):

	Year Ended December 31,
	2024			2023			2022
Net sales	$	3,024.0		$	3,087.0		$	3,427.9
Less:
Cost of products sold, excluding depreciation and amortization
Hedged cost of alloyed metal1		1,567.8			1,621.1			2,045.2
Manufacturing costs2		805.2			809.9			773.0
Plant overhead3		170.5			164.6			162.3
Freight costs		91.6			103.3			125.5
Other cost of products sold4		56.0			56.0			74.2
Depreciation and amortization		116.4			108.6			106.9
Selling, general, administrative, research and development
Research and development costs		2.2			2.9			1.9
Employee costs5		83.3			80.0			69.9
Other selling, general and administrative costs6		35.3			39.8			39.1
Goodwill impairment		—			—			20.5
Restructuring costs		7.6			5.0			2.2
Other operating charges, net		0.4			—			3.2
Interest expense		43.7			46.9			48.3
Other income, net – Note 13		(19.5	)		(7.4	)		(6.4	)
Income tax provision (benefit)		16.7			9.1			(8.3	)
Net income (loss)	$	46.8		$	47.2		$	(29.6	)

1.Hedged cost of alloyed metal includes cost of aluminum at the Midwest transaction price and the cost of alloying elements used in the production process. This metric also includes metal price exposure on shipments that we hedged with realized losses upon settlement of $0.2 million, $21.4 million, and $17.0 million in 2024, 2023, and 2022, respectively.

2.Manufacturing costs primarily includes labor, utilities, supplies 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 costs of products sold primarily includes lease expense, accretion expense related to CAROs, and major maintenance costs.

5.Employee costs include 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 (in millions of dollars):

	Year Ended December 31,
	2024		2023		2022
Net sales:
Aero/HS Products	$	883.0	$	899.3	$	676.1
Packaging		1,260.9		1,315.2		1,585.3
GE Products		618.1		596.5		883.8
Automotive Extrusions		251.9		254.9		254.8
Other products		10.1		21.1		27.9
Total net sales	$	3,024.0	$	3,087.0	$	3,427.9
Timing of revenue recognition:
Products transferred at a point in time	$	2,326.5	$	2,394.8	$	2,782.9
Products transferred over time		697.5		692.2		645.0
Total net sales	$	3,024.0	$	3,087.0	$	3,427.9

Schedule of Net Sales, Income Taxes Paid, and Long-lived Assets, by Geographical Area

The following table presents geographic information for net sales based on country of origin, income taxes paid, and long-lived assets (in millions of dollars):

	Year Ended December 31,
	2024		2023		2022
Net sales to unaffiliated customers:
Domestic	$	2,920.0	$	2,986.0	$	3,328.2
Foreign1		104.0		101.0		99.7
Total net sales	$	3,024.0	$	3,087.0	$	3,427.9
Income taxes paid:
Domestic	$	1.3	$	0.3	$	3.1
Foreign		3.1		0.2		3.2
Total income taxes paid	$	4.4	$	0.5	$	6.3

	As of December 31,
	2024		2023		2022
Long-lived assets:2
Domestic	$	1,134.5	$	1,025.3	$	984.8
Foreign1		26.7		26.8		28.4
Total long-lived assets	$	1,161.2	$	1,052.1	$	1,013.2

1.Foreign reflects our London, Ontario production facility.

2.Long-lived assets represent Property, plant and equipment, net.

Schedule of Export Sales and Primary Aluminum Supply from Major Suppliers

The following table presents information about export sales and primary aluminum supply from our major suppliers:

	Year Ended December 31,
	2024			2023			2022
Percentage of Net sales:
Export sales		10	%		10	%		10	%
Percentage of total annual primary aluminum supply (lbs):
Supply from our top five major suppliers		80	%		83	%		81	%
Supply from our largest supplier		21	%		37	%		48	%
Supply from our second and third largest suppliers combined		38	%		28	%		20	%