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Fair value measurements (Tables) | 12 Months Ended
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Dec. 31, 2011
Fair value measurements [Abstract] |
Financial assets and liabilities at fair value on a recurring basis | The following table sets forth our financial assets and liabilities that were accounted for at fair value on a recurring basis by the level of input within the ASC 820 fair value hierarchy. As required by GAAP for fair value measurements and disclosures, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and the placement within the fair value hierarchy levels.
Recurring Fair Value Measurements |  | As of December 31, 2011 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 176,284 |  |  | $ | - |  |  | $ | - |  |  | $ | 176,284 |
Trust assets |  |  | 15,889 |  |  |  | - |  |  |  | - |  |  |  | 15,889 |
Surety bonds – workers comp insurance |  |  | 2,391 |  |  |  | - |  |  |  | - |  |  |  | 2,391 |
Primary aluminum put option contracts |  |  | - |  |  |  | 9,331 |  |  |  | - |  |  |  | 9,331 |
Power contract |  |  | - |  |  |  | - |  |  |  | 106 |  |  |  | 106 |
TOTAL |  | $ | 194,564 |  |  | $ | 9,331 |  |  | $ | 106 |  |  | $ | 204,001 |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Natural gas forward financial purchase contracts |  | $ | - |  |  | $ | 281 |  |  | $ | - |  |  | $ | 281 |
E.ON contingent obligation – net |  |  | - |  |  |  | - |  |  |  | 13,958 |  |  |  | 13,958 |
Primary aluminum sales contract – premium collar |  |  | - |  |  |  | - |  |  |  | 908 |  |  |  | 908 |
TOTAL |  | $ | - |  |  | $ | 281 |  |  | $ | 14,866 |  |  | $ | 15,147 |
Recurring Fair Value Measurements |  | As of December 31, 2010 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
ASSETS: |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 294,269 |  |  | $ | - |  |  | $ | - |  |  | $ | 294,269 |
Primary aluminum put option contracts |  |  | - |  |  |  | 4,691 |  |  |  | - |  |  |  | 4,691 |
Natural gas forward financial purchase contracts |  |  | - |  |  |  | 79 |  |  |  | - |  |  |  | 79 |
Power contract |  |  | - |  |  |  | - |  |  |  | 72 |  |  |  | 72 |
TOTAL |  | $ | 294,269 |  |  | $ | 4,770 |  |  | $ | 72 |  |  | $ | 299,111 |
LIABILITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
E.ON contingent obligation |  | $ | - |  |  | $ | - |  |  | $ | 13,091 |  |  | $ | 13,091 |
Primary aluminum sales contract – premium collar |  |  | - |  |  |  | - |  |  |  | 783 |  |  |  | 783 |
TOTAL |  | $ | - |  |  | $ | - |  |  | $ | 13,874 |  |  | $ | 13,874 |
Change in level 3 fair value measurements |
Change in Level 3 Fair Value Measurements during the years ended December 31, |
|  | Derivative liabilities/assets |
|  | 2011 |  |  | 2010 |
Beginning balance January 1, |  | $ | (13,802 | ) |  | $ | (1,632 | )
Total gain (loss) (realized/unrealized) included in earnings |  |  | (1,382 | ) |  |  | 23 |
Purchases, issuances and settlements |  |  | 424 |  |  |  | (12,193 | )
Ending balance, December 31, |  | $ | (14,760 | ) |  | $ | (13,802 | )
Amount of total loss (gain) included in earnings attributable to the change in unrealized gains/losses relating to assets and liabilities held at December 31, |  | $ | (1,382 | ) |  | $ | 23 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -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 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -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 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 820 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 + Details
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