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Supplemental Balance Sheet Information (Tables)
 3 Months Ended
Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Disclosures Supplemental Balance Sheet Information
 
March 31, 2020
 
December 31, 2019
 
(In millions of dollars)
Cash and Cash Equivalents
 
 

Cash and money market funds
$
199.6

 
$
28.2

Commercial paper
107.6

 
236.1

Total
$
307.2

 
$
264.3

 
 
 
 
Trade Receivables, Net
 
 
 
Billed trade receivables
$
176.6

 
$
168.5

Allowance for doubtful receivables
(1.4
)
 
(1.4
)
Trade receivables, net
$
175.2

 
$
167.1

 
 
 
 
Inventories1
 
 
 
Finished products
$
43.1

 
$
42.6

Work-in-process
89.8

 
63.5

Raw materials
55.2

 
65.0

Operating supplies
6.5

 
6.5

Total
$
194.6

 
$
177.6

 
 
 
 
Property, Plant and Equipment, Net
 
 
 
Land and improvements
$
20.8

 
$
21.4

Buildings and leasehold improvements
106.8

 
104.5

Machinery and equipment
821.0

 
813.5

Construction in progress
44.0

 
33.2

Property, plant and equipment, gross
992.6

 
972.6

Accumulated depreciation
(364.0
)
 
(352.2
)
Assets held for sale
2.3

 
1.6

Property, plant and equipment, net
$
630.9

 
$
622.0

 
 
 
 
Other Accrued Liabilities
 
 
 
Uncleared cash disbursements
$
5.7

 
$
4.2

Accrued income taxes and taxes payable
10.3

 
6.2

Accrued annual contribution to Salaried VEBA
—

 
2.9

Accrued interest
2.0

 
2.3

Short-term environmental accrual – Note 7
4.7

 
5.5

Other – Note 3 and Note 5
34.2

 
22.9

Total
$
56.9

 
$
44.0

 
 
 
 

 
March 31, 2020
 
December 31, 2019
 
(In millions of dollars)
Long-Term Liabilities
 
 
 
Workers' compensation accrual2
$
28.5

 
$
27.7

Long-term environmental accrual – Note 7
12.3

 
11.5

Other long-term liabilities
34.5

 
27.8

Total
$
75.3

 
$
67.0


____________________
1 
At March 31, 2020 and December 31, 2019, the current cost of our inventory exceeded its stated LIFO value by $1.9 million and $11.9 million, respectively.
2 
Our workers' compensation accrual was estimated using a discount rate of 1.00% and 1.75% at March 31, 2020 and December 31, 2019, respectively. The undiscounted workers' compensation liabilities were estimated at $29.0 million and $29.2 million as of March 31, 2020 and December 31, 2019, respectively.