$OLN

OLIN CORP

CIK:0000074303|SEC Filings

CONDENSED STATEMENT OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Sales	$ 1,741.9	$ 1,758.3	$ 3,324.9	$ 3,402.5
Operating expenses:
Cost of goods sold	1,571.7	1,620.2	3,078.9	3,115.7
Selling and administrative	102.7	95.2	247.7	196.2
Restructuring charges	10.5	7.4	19.6	11.4
Acquisition-related costs	10.6	0.0	10.6	0.0
Other operating income (expense)	0.1	(0.2)	0.1	(0.2)
Operating income (loss)	46.5	35.3	(31.8)	79.0
Losses of non-consolidated affiliates	(1.0)	(1.4)	(2.4)	1.4
Interest expense, net	(44.3)	(45.6)	(86.4)	(92.9)
Non-operating pension income	2.6	4.9	6.1	10.6
Income (loss) before taxes	3.8	(6.8)	(114.5)	(4.7)
Income tax provision (benefit)	17.1	(4.0)	(18.2)	(3.1)
Net loss	(13.3)	(2.8)	(96.3)	(1.6)
Net loss attributable to noncontrolling interests	0.0	(1.5)	0.0	(1.7)
Net (loss) income attributable to Olin Corporation	$ (13.3)	$ (1.3)	$ (96.3)	$ 0.1
Net (loss) income attributable to Olin Corporation per common share:
Basic	$ (0.12)	$ (0.01)	$ (0.85)	$ 0
Diluted	$ (0.12)	$ (0.01)	$ (0.85)	$ 0
Weighted-average common shares outstanding:
Basic	113.9	114.9	113.8	115.1
Diluted	113.9	114.9	113.8	115.9

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net loss	$ (96.3)	$ (1.6)
Adjustments to reconcile net loss to net cash and cash equivalents provided by (used for) operating activities:
Depreciation and amortization	239.3	262.1
Losses of non-consolidated affiliates	2.4	1.4
Stock-based compensation	10.8	10.2
Deferred income taxes	(4.0)	(49.5)
Qualified pension plan contributions	(0.6)	(0.6)
Qualified pension plan income	(5.4)	(9.2)
Change in assets and liabilities:
Receivables	(149.0)	(34.1)
Income taxes receivable/payable	2.3	(124.3)
Inventories	(65.9)	(51.8)
Other current assets	(12.9)	(10.4)
Accounts payable and accrued liabilities	42.5	108.2
Other assets	(1.1)	(1.4)
Other noncurrent liabilities	(0.5)	27.3
Other operating activities	(2.3)	0.0
Net operating activities	(40.7)	126.3
Investing Activities
Capital expenditures	(72.7)	(92.4)
Business acquired in purchase transaction, net of cash acquired	0.0	(55.8)
Investments in non-consolidated affiliates	(1.9)	(0.8)
Other investing activities	(1.0)	(3.3)
Net investing activities	(75.6)	(152.3)
Long-term debt:
Borrowings	576.6	2,330.0
Repayments	(374.3)	(2,170.2)
Common stock repurchased and retired	0.0	(30.3)
Stock options exercised	3.0	1.9
Dividends paid	(45.6)	(46.0)
Distributions to noncontrolling interests	(31.3)	0.0
Debt issuance costs	(2.1)	(12.0)
Net financing activities	126.3	73.4
Effect of exchange rate changes on cash and cash equivalents	(0.2)	0.8
Net increase in cash and cash equivalents	9.8	48.2
Cash and cash equivalents, beginning of year	167.6	175.6
Cash and cash equivalents, end of period	177.4	223.8
Cash paid for interest and income taxes:
Interest, net	79.1	85.9
Income taxes, net of refunds	0.9	144.2
Non-cash investing activities:
Decrease (increase) in capital expenditures included in accounts payable and accrued liabilities	$ (1.0)	$ 1.9

CONDENSED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 177.4	$ 167.6	$ 223.8
Receivables, net	988.6	844.5	1,044.5
Income taxes receivable	54.3	66.6	29.1
Inventories, net	847.2	784.5	919.1
Other current assets	120.4	107.9	70.2
Total current assets	2,187.9	1,971.1	2,286.7
Property, plant and equipment (less accumulated depreciation of $5,587.3, $5,508.7 and $5,417.0)	2,089.0	2,196.9	2,260.8
Operating lease assets, net	365.4	298.6	281.8
Deferred income taxes	45.2	47.2	59.7
Other assets	1,169.8	1,210.0	1,159.7
Intangible assets, net	155.6	174.4	193.7
Goodwill	1,427.7	1,427.6	1,425.5
Total assets	7,440.6	7,325.8	7,667.9
Current liabilities:
Current installments of long-term debt	0.0	109.7	19.2
Accounts payable	910.3	806.1	901.0
Income taxes payable	13.7	23.9	44.1
Current operating lease liabilities	73.0	59.7	61.0
Accrued liabilities	546.1	630.1	520.6
Total current liabilities	1,543.1	1,629.5	1,545.9
Long-term debt	3,029.1	2,717.6	2,977.5
Operating lease liabilities	305.4	252.5	226.4
Accrued pension liability	197.2	200.9	227.4
Deferred income taxes	312.8	317.6	380.8
Other liabilities	341.2	337.1	322.1
Total liabilities	5,728.8	5,455.2	5,680.1
Commitments and contingencies
Shareholders’ equity:
Common stock, $1.00 par value per share: authorized, 240.0 shares; issued and outstanding, 114.0, 113.6 and 114.6 shares	114.0	113.6	114.6
Additional paid-in capital	11.9	0.0	0.0
Accumulated other comprehensive loss	(412.4)	(414.5)	(451.4)
Retained earnings	1,997.9	2,139.8	2,294.0
Olin Corporation’s shareholders’ equity	1,711.4	1,838.9	1,957.2
Noncontrolling interests	0.4	31.7	30.6
Total equity	1,711.8	1,870.6	1,987.8
Total liabilities and equity	$ 7,440.6	$ 7,325.8	$ 7,667.9