Contingencies |
9 Months Ended |
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Sep. 30, 2024 | |
Loss Contingency Accrual, Disclosures [Abstract] | |
Contingencies | Note 12 – Contingencies Metallus has a number of loss exposures incurred in the ordinary course of business, such as environmental claims, product warranty claims, employee-related matters, and other litigation. Establishing loss reserves for these matters requires management’s estimate and judgment regarding risk exposure and ultimate liability or realization. These loss reserves are reviewed periodically and adjustments are made to reflect the most recent facts and circumstances. Accruals related to environmental claims represent management’s best estimate of the fees and costs associated with these claims. Although it is not possible to predict with certainty the outcome of such claims, management believes that their ultimate dispositions should not have a material adverse effect on our financial position, cash flows or results of operations. As of September 30, 2024 and December 31, 2023, Metallus had a $1.3 million and a $1.1 million contingency reserve, respectively, related to loss exposures incurred in the ordinary course of business. |