Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Supplemental Balance Sheet Information

2. Supplemental Balance Sheet Information

	As of June 30, 2022			As of December 31, 2021
	(In millions of dollars)
Trade Receivables, Net
Billed trade receivables	$	351.7		$	333.5
Allowance for doubtful receivables		(0.6	)		(0.8	)
Trade receivables, net	$	351.1		$	332.7
Inventories1
Finished products	$	66.9		$	90.3
Work-in-process		160.3			162.2
Raw materials		230.2			143.0
Operating supplies		11.2			9.1
Total	$	468.6		$	404.6
Property, Plant and Equipment, Net
Land and improvements	$	26.4		$	26.0
Buildings and leasehold improvements		184.5			179.0
Machinery and equipment		1,171.7			1,151.5
Construction in progress2		99.8			75.3
Property, plant and equipment, gross		1,482.4			1,431.8
Accumulated depreciation and amortization		(526.5	)		(480.4	)
Assets held for sale		0.4			3.8
Property, plant and equipment, net	$	956.3		$	955.2
Other Accrued Liabilities
Uncleared cash disbursements	$	11.1		$	10.9
Accrued income taxes and other taxes payable		11.7			9.5
Accrued interest		9.9			9.9
Short-term environmental accrual – Note 6		2.8			2.6
Other – Note 4		51.8			25.5
Total	$	87.3		$	58.4
Long-Term Liabilities
Workers' compensation accrual	$	31.8		$	31.9
Long-term environmental accrual – Note 6		13.2			14.2
Other long-term liabilities		28.6			26.4
Total	$	73.6		$	72.5

¹ At June 30, 2022 and December 31, 2021 the current cost of our inventory exceeded its stated last-in, first-out (“LIFO”) value by $204.5 million and $137.1 million, respectively.

² Based on market conditions, we temporarily idled projects within Construction in progress totaling $20.5 million and $24.9 million as of June 30, 2022 and December 31, 2021, respectively, all of which are expected to resume at a future date.