Revisions to Prior Period Financial Statements
 6 Months Ended
Jun. 30, 2021
Accounting Changes and Error Corrections [Abstract]  
Revisions to Prior Period Financial Statements Revisions to Prior Period Consolidated Financial Statements:
The Company’s financial statements for the three- and six-month periods ended June 30, 2020 have been restated to correct an error in our interim inventory valuation methodology related to the capitalization of inventory variances at our Salt production mines, which resulted in a historical understatement of our first-quarter consolidated and Salt segment operating income that is completely offset in subsequent quarters with no impact to full-year operating results. This correction resulted in shifting previously reported Salt segment product costs from the first quarter to subsequent quarters.

The Company's consolidated financial statements for the three and six months ended June 30, 2020 have also been restated to correct certain immaterial items, the cumulative effect of which was considered to be too material to correct in fiscal 2021 earnings; however, the errors were not material to any annual historical periods. These adjustments primarily relate to an
understatement of our Canadian post-employment benefit obligations, overvaluation of bulk SOP stockpile inventory at the Company's Ogden facility, and transition taxes related to U.S. tax reform.

In the tables below, the amounts As Previously Reported represent the amounts as reported in the Company's previously filed Form 10-Q for the quarter ended June 30, 2020. The Amounts As Restated reflect adjustments to correct the errors noted above. The amounts As Currently Reported reflect the Specialty Businesses being reported as discontinued operations.

The effects of the revisions described above on the Company’s Consolidated Balance Sheet as of December 31, 2020, are as follows (in millions, except share data). The amounts As Previously Reported below reflect the impact of discontinued operations previously reported in the Form 10-Q for the quarter ended March 31, 2021:
The effects of the revisions described above on the Company’s Consolidated Balance Sheet as of December 31, 2020, are as follows (in millions, except share data):
 As Previously
Reported		As
Revised
ASSETS
Current assets:
Cash and cash equivalents$10.6 $10.6 
Receivables, less allowance for doubtful accounts185.1 185.1 
Inventories(a)
299.9 298.7 
Current assets held for sale206.5 206.5 
Other(b)
55.1 55.4 
Total current assets757.2 756.3 
Property, plant and equipment, net851.7 851.7 
Intangible assets, net49.9 49.9 
Goodwill55.7 55.7 
Noncurrent assets held for sale404.1 404.1 
Other143.8 143.8 
Total assets$2,262.4 $2,261.5 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt$10.0 $10.0 
Accounts payable82.6 82.6 
Accrued salaries and wages(c)
21.7 22.2 
Income taxes payable5.1 5.1 
Accrued interest9.0 9.0 
Current liabilities held for sale111.5 111.4 
Accrued expenses and other current liabilities56.4 56.4 
Total current liabilities296.3 296.7 
Long-term debt, net of current portion1,299.1 1,299.1 
Deferred income taxes, net(d)
60.0 57.3 
Noncurrent liabilities held for sale76.1 76.1 
Other noncurrent liabilities(c)
143.9 154.0 
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock: $0.01 par value, 200,000,000 authorized shares; 35,367,264 issued shares
0.4 0.4 
Additional paid-in capital127.0 127.0 
Treasury stock, at cost — 1,407,926 shares at December 31, 2020
(4.4)(4.4)
Retained earnings(e)
567.3 559.1 
Accumulated other comprehensive loss(f)
(303.3)(303.8)
Total stockholders’ equity387.0 378.3 
Total liabilities and stockholders’ equity$2,262.4 $2,261.5 
(a) Amount in As Revised column reflects decrease of $1.2 million related to the SOP inventory correction.
(b) Amount in As Revised column reflects a $0.3 million tax benefit related to the SOP inventory correction.
(c) Amount in As Revised column reflects Canadian Benefits obligation, consisting of $0.4 million of current liabilities and $10.1 million of noncurrent liabilities.
(d) Amount in As Revised column reflects $2.7 million reduction of deferred tax liability related to the Canadian Benefits obligation.
(e) Amount in As Revised column reflects retained earnings reductions of $7.4 million related to the Canadian Benefits obligation and $0.8 million related to the SOP inventory correction, net of related tax effects.
(f) Amount in As Revised column reflects a $0.5 million impact of translating the Canadian Benefits obligation into U.S. dollars.
The effects of the revisions described above on the Company’s Consolidated Statements of Operations for the three and six months ended June 30, 2020, are as follows (in millions, except share and per share data):
 Three Months Ended
June 30, 2020		Six Months Ended
June 30, 2020
 As
Previously
Reported		As
Restated		As
Currently
Reported		As
Previously
Reported		As
Restated		As
Currently
Reported
Sales$256.1 $256.1 $175.2 $670.0 $670.0 $521.1 
Shipping and handling cost40.5 40.5 37.0 142.3 142.3 135.4 
Product cost(a)
149.3 156.5 98.6 374.1 371.9 262.0 
Gross profit66.3 59.1 39.6 153.6 155.8 123.7 
Selling, general and administrative expenses41.8 41.8 29.9 84.9 84.9 59.7 
Operating earnings24.5 17.3 9.7 68.7 70.9 64.0 
Other expense (income):
Interest expense17.2 17.2 15.4 36.2 36.2 32.0 
Loss (gain) on foreign exchange5.0 5.0 4.4 (9.3)(9.3)(13.6)
Other (income) expense, net(0.6)(0.6)(0.2)(0.4)(0.4)0.1 
Earnings (loss) from continuing operations before income taxes2.9 (4.3)(9.9)42.2 44.4 45.5 
Income tax expense (benefit) for continuing operations(b)
1.2 (1.0)(2.7)12.9 13.7 12.7 
Net earnings (loss) from continuing operations1.7 (3.3)(7.2)29.3 30.7 32.8 
Net earnings (loss) from discontinued operations— — 3.9 — — (2.1)
Net earnings (loss)$1.7 $(3.3)$(3.3)$29.3 $30.7 $30.7 
Basic net earnings (loss) from continuing operations per common share$0.04 $(0.11)$(0.22)$0.85 $0.89 $0.95 
Basic net earnings (loss) from discontinued operations per common share— — 0.11 — — (0.06)
Basic net earnings (loss) per common share$0.04 $(0.11)$(0.11)$0.85 $0.89 $0.89 
Diluted net earnings (loss) from continuing operations per common share$0.04 $(0.11)$(0.22)$0.84 $0.88 $0.94 
Diluted net earnings (loss) from discontinued operations per common share— — 0.11 — — (0.06)
Diluted net earnings (loss) per common share$0.04 $(0.11)$(0.11)$0.84 $0.88 $0.88 
Weighted-average common shares outstanding (in thousands):
Basic33,915 33,915 33,915 33,903 33,903 33,903 
Diluted33,915 33,915 33,915 33,903 33,903 33,903 
(a) Amounts in As Restated columns reflect impacts of $7.0 million and $(4.1) million related to the correction in inventory valuation methodology for the three and six months ended June 30, 2020, respectively, and $0.2 million and $0.4 million related to the Canadian Benefits obligation for the three and six months ended June 30, 2020, respectively. Also reflected in the six months ended June 30, 2020 is an impact of $1.5 million related to the SOP inventory correction.
(b) Amounts in As Restated columns reflect changes in income tax expense of $(2.1) million and $1.2 million related to the correction in inventory valuation methodology for the three and six months ended June 30, 2020, respectively, and $(0.1) million related to Canadian Benefits obligation for the three and six months ended June 30, 2020. Also reflected in the six months ended June 30, 2020 is an impact of $(0.3) million related to the SOP inventory correction.
The following table presents the effects of the revisions to the Company’s Consolidated Statements of Stockholders’ Equity (in millions):

Retained EarningsAccumulated Other
Comprehensive Loss
(In millions)As
Previously
Reported		As
Revised		As
Previously
Reported		As
Revised
Balance, December 31, 2019(a)
$607.4 $595.6 $(192.1)$(192.2)
Balance, March 31, 2020(b) (restated)
610.1 604.7 (365.3)(365.7)
Balance, June 30, 2020(c) (restated)
587.0 576.7 (362.3)(362.3)
Balance, March 31, 2021(d) (restated)
319.5 320.5 (323.5)(324.0)
(a) Amount in As Revised column under the Retained Earnings heading reflects retained earnings reductions of $6.8 million related to the SOP inventory correction and $9.3 million related to the Canadian Benefits obligation, both offset by related tax effects.
(b) Restated amount in As Revised column under the Retained Earnings heading reflects retained earnings reductions of $8.3 million related to the SOP inventory correction and $8.9 million related to the Canadian Benefits obligation, as well as a retained earnings increase of $11.1 million related to the correction in inventory valuation methodology, all offset by related tax effects. Restated amount in As Revised column under the Accumulated Other Comprehensive Loss heading reflects the impact of translating the salt inventory correction and the Canadian Benefits obligation into U.S. dollars of $(0.7) million and $0.3 million, respectively.
(c) Amount in As Revised column under the Retained Earnings heading reflects the retained earnings reductions of $8.3 million related to the SOP inventory correction and $9.5 million related to the Canadian Benefits obligation, as well as a retained earnings increase of $7.0 million related to the correction in inventory valuation methodology, all offset by related tax effects.
(d) Restated amount in As Revised column under the Retained Earnings heading reflects the retained earnings increase of $11.7 million related to the correction in inventory valuation methodology, as well as a retained earnings reduction of $10.9 million related to the Canadian Benefits obligation, both offset by related tax effects. Restated amount in As Revised column under the Accumulated Other Comprehensive Loss heading reflects the impact of translating the Canadian Benefits obligation and the change in inventory valuation methodology of $(0.6) million and $0.1 million, respectively.
The effects of the adjustments described above on the Company’s Consolidated Statement of Cash Flows for the six months ended June 30, 2020, are as follows (in millions):
 Six Months Ended
June 30, 2020
 As
Previously
Reported		As
Restated
Cash flows from operating activities:
Net earnings$29.3 $30.7 
Adjustments to reconcile net earnings to net cash flows provided by operating activities:
Depreciation, depletion and amortization68.0 68.0 
Finance fee amortization1.5 1.5 
Stock-based compensation5.1 5.1 
Deferred income taxes(a)
6.6 6.5 
Unrealized foreign exchange gain(12.6)(12.6)
Other, net4.0 4.0 
Changes in operating assets and liabilities, net of sale:
Receivables139.2 139.2 
Inventories(b)
(35.4)(38.0)
Other assets(c)
33.7 33.0 
Accounts payable and accrued expenses and other current liabilities(d)
(1.5)0.1 
Other liabilities(e)
(4.0)(3.6)
Net cash provided by operating activities233.9 233.9 
Cash flows from investing activities:
Capital expenditures(42.7)(42.7)
Other, net(1.3)(1.3)
Net cash used in investing activities(44.0)(44.0)
Cash flows from financing activities:
Proceeds from revolving credit facility borrowings64.2 64.2 
Principal payments on revolving credit facility borrowings(165.2)(165.2)
Proceeds from issuance of long-term debt22.2 22.2 
Principal payments on long-term debt(21.7)(21.7)
Dividends paid(49.5)(49.5)
Deferred financing costs(0.1)(0.1)
Shares withheld to satisfy employee tax obligations(0.7)(0.7)
Other, net(0.9)(0.9)
Net cash used in financing activities(151.7)(151.7)
Effect of exchange rate changes on cash and cash equivalents(5.7)(5.7)
Net change in cash and cash equivalents32.5 32.5 
Cash and cash equivalents, beginning of the year34.7 34.7 
Cash and cash equivalents, end of period67.2 67.2 
Less: cash and cash equivalents included in current assets held for sale— (27.4)
Cash and cash equivalents of continuing operations, end of period$67.2 $39.8 
Supplemental cash flow information:  
Interest paid, net of amounts capitalized$32.5 $32.5 
Income taxes paid, net of refunds$(37.7)$(37.7)
(a) Amount in As Restated column reflects the impact of deferred taxes related to the Canadian Benefits obligation.
(b) Amount in As Restated column reflects the impact of the SOP inventory correction of $1.5 million and the correction in inventory valuation methodology of $(4.1) million.
(c) Amount in As Restated column reflects reductions related to the SOP inventory correction of $0.4 million and the correction in inventory valuation methodology of $0.3 million.
(d) Amount in As Restated column reflects the impact of the correction in inventory valuation methodology.
(e) Amount in As Restated column reflects the impact of recording deferred taxes related to the Canadian Benefits obligation.