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Supplemental Balance Sheet Information
 9 Months Ended
Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Supplemental Balance Sheet Information

2. Supplemental Balance Sheet Information

 

 

 

As of September 30, 2021

 

 

As of December 31, 2020

 

 

 

(In millions of dollars)

 

Trade Receivables, Net

 

 

 

 

 

 

 

 

Billed trade receivables

 

$

362.4

 

 

$

113.6

 

Allowance for doubtful receivables

 

 

(0.8

)

 

 

(0.8

)

Trade receivables, net

 

$

361.6

 

 

$

112.8

 

 

 

 

 

 

 

 

 

 

Inventories1

 

 

 

 

 

 

 

 

Finished products

 

$

81.9

 

 

$

37.2

 

Work-in-process

 

 

163.2

 

 

 

46.0

 

Raw materials

 

 

159.6

 

 

 

62.3

 

Operating supplies

 

 

8.9

 

 

 

6.5

 

Total

 

$

413.6

 

 

$

152.0

 

 

 

 

 

 

 

 

 

 

Property, Plant and Equipment, Net

 

 

 

 

 

 

 

 

Land and improvements

 

$

26.0

 

 

$

21.5

 

Buildings and leasehold improvements

 

 

174.7

 

 

 

117.2

 

Machinery and equipment

 

 

1,119.7

 

 

 

847.4

 

Construction in progress2

 

 

82.3

 

 

 

37.8

 

Property, plant and equipment, gross

 

 

1,402.7

 

 

 

1,023.9

 

Accumulated depreciation and amortization

 

 

(456.1

)

 

 

(398.4

)

Assets held for sale

 

 

2.1

 

 

 

1.7

 

Property, plant and equipment, net

 

$

948.7

 

 

$

627.2

 

 

 

 

 

 

 

 

 

 

Other Accrued Liabilities

 

 

 

 

 

 

 

 

Uncleared cash disbursements

 

$

7.1

 

 

$

2.1

 

Accrued income taxes and other taxes payable

 

 

11.0

 

 

 

5.2

 

Accrued annual contribution to Salaried VEBA

 

 

—

 

 

 

1.7

 

Accrued interest

 

 

11.0

 

 

 

11.6

 

Short-term environmental accrual – Note 8

 

 

3.9

 

 

 

3.7

 

Other – Note 3 and Note 6

 

 

22.2

 

 

 

17.1

 

Total

 

$

55.2

 

 

$

41.4

 

 

 

 

 

 

 

 

 

 

Long-Term Liabilities

 

 

 

 

 

 

 

 

Workers' compensation accrual

 

$

30.9

 

 

$

30.6

 

Long-term environmental accrual – Note 8

 

 

13.3

 

 

 

15.1

 

Other long-term liabilities

 

 

30.3

 

 

 

31.6

 

Total

 

$

74.5

 

 

$

77.3

 

 

1

At September 30, 2021 and December 31, 2020 the current cost of our inventory exceeded its stated last-in, first-out (“LIFO”) value by $124.1 million and $8.4 million, respectively. We treated inventory acquired in conjunction with the Warrick acquisition (as defined in Note 4 below) as current year purchases within our existing single LIFO pool.

2

Based on market conditions during the nine months ended September 30, 2021, $19.8 million within Construction in progress as of September 30, 2021 related to temporarily idled projects, all of which are expected to resume at a future date. Temporary idled projects as of December 31, 2020 totaled $20.0 million.