Business, Product and Geographical Area Information (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Significant Segment Expenses Provided to CODM

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


	Quarter Ended March 31,
	2026		2025
Net sales	$	1,106.8	$	777.4

Less:
Cost of products sold, excluding depreciation and amortization
Hedged cost of alloyed metal1		702.4		414.2
Manufacturing costs2		162.2		181.9
Plant overhead3		47.3		46.1
Freight costs		22.3		20.7
Other cost of products sold4		9.0		10.5
Depreciation and amortization		30.4		30.0
Selling, general, administrative, research and development
Research and development costs		0.6		0.3
Employee costs5		26.7		22.5
Other selling, general and administrative costs6		8.1		8.0
Restructuring costs		—		1.8
Interest expense		14.4		11.2
Other expense, net – Note 8		1.0		1.4
Income tax provision		19.9		7.2
Net income	$	62.5	$	21.6

Hedged cost of alloyed metal includes cost of aluminum at the MWTP 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 gains upon settlement of $7.5 million and $4.6 million in the quarters ended March 31, 2026 and March 31, 2025, respectively.

Manufacturing costs primarily includes labor, utilities, supplies, metal valuation impacts, metal profits, and other materials, excluding alloys, incurred at our various production facilities.

Plant overhead includes salaried employee costs, property taxes, and insurance associated with our various production facilities.

Other cost of products sold primarily includes accretion expense related to conditional asset retirement obligations, gains and losses on operating asset disposals, and major maintenance costs.

Employee costs include indirect labor salaries, benefits, and incentive compensation.

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):


	Quarter Ended March 31,
	2026		2025
Net sales:
Aero/HS Products	$	286.8	$	214.7
Packaging		498.4		314.2
GE Products		240.3		181.6
Automotive Extrusions		81.3		66.9
Total net sales	$	1,106.8	$	777.4

Timing of revenue recognition:
Products transferred at a point in time	$	853.2	$	590.8
Products transferred over time		253.6		186.6
Total net sales	$	1,106.8	$	777.4

Schedule of Income Taxes Paid by Geographical Area

The following table presents geographic information for income taxes paid (in millions of dollars):


	Quarter Ended March 31,
	2026		2025
Income taxes paid:
Domestic	$	0.3	$	—
Foreign		0.7		1.8
Total income taxes paid	$	1.0	$	1.8