Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Supplemental Balance Sheet Information

2. Supplemental Balance Sheet Information

	June 30, 2020			December 31, 2019
	(In millions of dollars)
Cash and Cash Equivalents
Cash and money market funds	$	710.6		$	28.2
Commercial paper		—			236.1
Total	$	710.6		$	264.3
Trade Receivables, Net
Billed trade receivables	$	127.5		$	168.5
Allowance for doubtful receivables		(1.1	)		(1.4	)
Trade receivables, net	$	126.4		$	167.1
Inventories1
Finished products	$	40.8		$	42.6
Work-in-process		62.7			63.5
Raw materials		71.3			65.0
Operating supplies		6.6			6.5
Total	$	181.4		$	177.6
Property, Plant and Equipment, Net
Land and improvements	$	21.6		$	21.4
Buildings and leasehold improvements		110.2			104.5
Machinery and equipment		826.9			813.5
Construction in progress2		42.0			33.2
Property, plant and equipment, gross		1,000.7			972.6
Accumulated depreciation		(375.1	)		(352.2	)
Assets held for sale		1.5			1.6
Property, plant and equipment, net	$	627.1		$	622.0
Other Accrued Liabilities
Uncleared cash disbursements	$	3.3		$	4.2
Accrued income taxes and taxes payable		8.4			6.2
Accrued annual contribution to Salaried VEBA		—			2.9
Accrued interest		11.8			2.3
Short-term environmental accrual – Note 7		6.6			5.5
Other – Note 3 and Note 5		24.4			22.9
Total	$	54.5		$	44.0
Long-Term Liabilities
Workers' compensation accrual3	$	29.6		$	27.7
Long-term environmental accrual – Note 7		11.6			11.5
Other long-term liabilities		34.1			27.8
Total	$	75.3		$	67.0

^{1 At June 30, 2020, the stated LIFO value of our inventory exceeded its current cost by $11.0 million. At December 31, 2019, the current cost of our inventory exceeded its stated LIFO value by $11.9 million.}  

^{2 Based on market conditions during the quarter ended June 30, 2020, we temporarily idled $23.9 million of Construction in progress as of June 30, 2020, all of which is expected to resume at a future date.}

^{3 Our workers' compensation accrual was estimated using a discount rate of 1.00% and 1.75% at June 30, 2020 and December 31, 2019, respectively. The undiscounted workers' compensation liabilities were estimated at $30.3 million and $29.2 million as of June 30, 2020 and December 31, 2019, respectively.}