Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Supplemental Balance Sheet Information

2. Supplemental Balance Sheet Information

	As of March 31, 2022			As of December 31, 2021
	(In millions of dollars)
Trade Receivables, Net
Billed trade receivables	$	432.8		$	333.5
Allowance for doubtful receivables		(0.6	)		(0.8	)
Trade receivables, net	$	432.2		$	332.7
Inventories1
Finished products	$	83.7		$	90.3
Work-in-process		169.2			162.2
Raw materials		169.0			143.0
Operating supplies		9.6			9.1
Total	$	431.5		$	404.6
Property, Plant and Equipment, Net
Land and improvements	$	26.5		$	26.0
Buildings and leasehold improvements		182.5			179.0
Machinery and equipment		1,160.4			1,151.5
Construction in progress2		89.8			75.3
Property, plant and equipment, gross		1,459.2			1,431.8
Accumulated depreciation and amortization		(503.4	)		(480.4	)
Assets held for sale		4.4			3.8
Property, plant and equipment, net	$	960.2		$	955.2
Other Accrued Liabilities
Uncleared cash disbursements	$	16.7		$	10.9
Accrued income taxes and other taxes payable		16.3			9.5
Accrued interest		10.3			9.9
Short-term environmental accrual – Note 6		2.3			2.6
Other – Note 4		25.3			25.5
Total	$	70.9		$	58.4
Long-Term Liabilities
Workers' compensation accrual	$	31.8		$	31.9
Long-term environmental accrual – Note 6		14.1			14.2
Other long-term liabilities		28.5			26.4
Total	$	74.4		$	72.5

¹ At March 31, 2022 and December 31, 2021 the current cost of our inventory exceeded its stated last-in, first-out (“LIFO”) value by $210.5 million and $137.1 million, respectively.

² Based on market conditions, we temporarily idled projects within Construction in progress totaling $20.6 million and $24.9 million as of March 31, 2022 and December 31, 2021, respectively, all of which are expected to resume at a future date.