v3.26.1
STATEMENTS OF CONSOLIDATED CASH FLOWS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income [1] $ 62.5 $ 21.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of property, plant and equipment [1] 29.3 28.9
Amortization of definite-lived intangible assets [1] 1.1 1.1
Amortization of debt issuance costs [1] 0.7 0.5
Deferred income taxes [1] 16.8 6.4
Non-cash equity compensation [1] 5.9 4.2
Loss on disposition of property, plant and equipment [1] 0.3 0.0
Non-cash postretirement and postemployment defined benefit plan cost [1] 2.1 2.3
Changes in operating assets and liabilities:    
Receivables [1] (105.3) (48.0)
Contract assets [1] (12.5) 5.5
Inventories [1] (73.8) 29.5
Prepaid expenses and other current assets [1] (1.6) 0.2
Accounts payable [1] 217.6 20.3
Accrued liabilities [1] (46.2) (14.3)
Annual variable cash contributions to Salaried VEBA [1] (2.9) (0.7)
Long-term assets and liabilities, net [1] (6.1) (0.5)
Net cash provided by operating activities [1] 87.9 57.0
Cash flows from investing activities:    
Capital expenditures [1] (19.4) (38.2)
Net cash used in investing activities [1] (19.4) (38.2)
Cash flows from financing activities:    
Borrowings under the Revolving Credit Facility [1] 71.5 42.5
Repayment of borrowings under the Revolving Credit Facility [1] (93.8) (42.5)
Repayment of finance lease [1] (0.7) (0.7)
Cancellation of shares to cover tax withholdings upon common shares issued [1] (8.8) (1.8)
Cash dividends and dividend equivalents paid [1] (13.6) (12.9)
Net cash used in financing activities [1] (45.4) (15.4)
Net increase in cash, cash equivalents and restricted cash during the period 23.1 3.4
Cash, cash equivalents and restricted cash at beginning of period 26.9 37.9
Cash, cash equivalents and restricted cash at end of period $ 50.0 $ 41.3
[1] See Note 11 for supplemental cash flow information.