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Quarterly Information (Unaudited) | 12 Months Ended
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Dec. 31, 2011
Quarterly Information [Abstract] |
Quarterly Information (Unaudited) |
19. | Quarterly Information (Unaudited)
Financial results by quarter for the years ended December 31, 2011 and 2010 are as follows:
|  | Net sales |  |  | Gross profit (loss) |  |  | Net income (loss) |  |  | Net income (loss) allocated to common shareholders |  |  | Net income (loss) per share |
2011: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
4th Quarter (1) |  | $ | 318,164 |  |  | $ | (13,632 | ) |  | $ | (31,107 | ) |  | $ | (31,107 | ) |  | $ | (0.35 | )
3rd Quarter (2) |  |  | 345,646 |  |  |  | 11,324 |  |  |  | (6,600 | ) |  |  | (6,600 | ) |  |  | (0.07 | )
2nd Quarter (3) |  |  | 366,277 |  |  |  | 49,514 |  |  |  | 23,986 |  |  |  | 22,061 |  |  |  | 0.24 |
1st Quarter (4) |  |  | 326,337 |  |  |  | 42,316 |  |  |  | 25,046 |  |  |  | 23,005 |  |  |  | 0.25 |
2010: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
4th Quarter (5) |  | $ | 316,851 |  |  | $ | 41,135 |  |  | $ | 65,280 |  |  | $ | 59,939 |  |  | $ | 0.65 |
3rd Quarter (6) |  |  | 279,178 |  |  |  | 15,769 |  |  |  | (16,787 | ) |  |  | (16,787 | ) |  |  | (0.18 | )
2nd Quarter (7) |  |  | 287,853 |  |  |  | 21,516 |  |  |  | 5,146 |  |  |  | 4,723 |  |  |  | 0.05 |
1st Quarter |  |  | 285,389 |  |  |  | 33,976 |  |  |  | 6,332 |  |  |  | 5,808 |  |  |  | 0.06 |
(1) | The fourth quarter of 2011 net loss includes benefit of $3,067 for mark-to-market gains primarily related to primary aluminum price protection options and a $6,303 charge for lower of cost or market inventory adjustments.
(2) | The third quarter of 2011 net loss includes a benefit of $4,163 for mark-to-market gains primarily related to primary aluminum price protection options and a $13,479 charge for lower of cost or market inventory adjustments.
(3) | The second quarter of 2011 net income includes a benefit of $8,953 for changes to the Century of West Virginia retiree medical benefits program, a $7,707 charge related to the contractual impact of recent changes in the composition of our Board of Directors and executive management team and a $2,889 charge related to an insurance claim receivable.
(4) | The first quarter of 2011 net income includes a charge of $4,809 for mark-to-market losses primarily related to primary aluminum price protection options, a benefit of $9,418 for changes to the Century of West Virginia retiree medical benefits program and a $6,462 charge for the restart of the curtailed potline at Hawesville.
(5) | The fourth quarter of 2010 net income includes a benefit of $56,728 for changes to the Century of West Virginia retiree medical benefits program, a charge of $5,681 for mark-to-market losses for primary aluminum price protection options and a charge for contractual termination pension benefits of $4,555 due to the continued curtailment of the Ravenswood facility.
(6) | The third quarter of 2010 net loss includes a charge of $12,136 for mark-to-market losses primarily related to primary aluminum price protection options and a $7,300 benefit for lower of cost or market inventory adjustments.
(7) | The second quarter of 2010 net income includes a charge of $9,294 for mark-to-market losses primarily related to primary aluminum price protection options and a $7,056 charge for lower of cost or market inventory adjustments.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=6952194&loc=d3e1280-108306 + Details
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