Debt (Tables)

3 Months Ended

Mar. 31, 2026


	March 31, 2026		December 31, 2025
Debt classified as current liabilities:
Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly(1)	$	—	$	7.8
U.S. Revolving Credit Facility(2)	—		—
Iceland Revolving Credit Facility(3)	66.1		61.0



Debt classified as non-current liabilities:



2.75% convertible senior notes due May 1, 2028, net of financing fees of $0.7 million at March 31, 2026, interest payable semiannually	85.5		85.5
6.875% senior secured notes due August 1, 2032, net of financing fees of $5.8 million at March 31, 2026, interest payable semiannually	394.3		394.0
Total	$	545.9	$	548.3

(1)The IRBs were classified as current liabilities because they were remarketed weekly and could have been required to be repaid upon demand if there is a failed remarketing.

(2)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2026 was 7.25%.

(3)We incur interest at a base rate plus applicable margin as defined within the agreement. The interest rate at March 31, 2026 was 7.18%.

Schedule of Debt Redemption Rights

Redemption Rights. Prior to August 1, 2028, we may redeem the 2032 Notes, in whole or in part, at a redemption price equal to 100.00% of the principal amount plus a make-whole premium and accrued and unpaid interest, and if redeemed during the twelve-month period beginning on August 1 of the years indicated below, at the following redemption prices plus accrued and unpaid interest:


Year						Percentage
2028						103.438%
2029						101.719%
2030 and Thereafter						100.000%

Schedule of Line of Credit Facilities


Status of our U.S. revolving credit facility:	March 31, 2026
Credit facility maximum amount	$	250.0
Borrowing availability	202.7
Outstanding letters of credit issued	47.9
Outstanding borrowings	—
Borrowing availability, net of outstanding letters of credit and borrowings	154.8


Status of our Iceland revolving credit facility:	March 31, 2026
Credit facility maximum amount	$	100.0
Borrowing availability	100.0
Outstanding letters of credit issued	—
Outstanding borrowings	66.0
Borrowing availability, net of borrowings	34.0