XML 84 R66.htm IDEA: XBRL DOCUMENT v2.4.0.6
Pension and Other Postretirement Benefits (Details) (USD $)
In Thousands, unless otherwise specified
 1 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Pension and Other Postretirement Benefits [Abstract]        
Number of directors elected to Board of Directors 3 3    
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Employer contributions   $ 34,400    
Change in benefit obligation [Roll Forward]        
Benefit obligation at beginning of period   130,427    
Benefit obligation at end of period   164,565 130,427  
Change in plan assets [Roll Forward]        
Fair value of plan assets at beginning of period   73,878    
Employer contributions   34,400    
Fair value of assets at end of period   84,966 73,878  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Net loss   62,212 32,319 (36,798)
Prior service benefit arising during the period   0 (112,488) (9,153)
Amortization of prior service benefit (cost)   32,677 61,216 1,338
Projected Benefit Obligation   164,565 130,427  
Accumulated Benefit Obligation   156,748 126,052  
Fair value of pension plan assets   84,966 73,878  
Weighted average assumptions used to determine net periodic benefit cost [Abstract]        
Effect of one percentage point increase on total of service and interest cost   1,198    
Effect of one percentage point decrease on total of service and interest cost   (977)    
Effect of one percentage point increase on accumulated postretirement benefit obligation   21,099    
Effect of one percentage point decrease on accumulated postretirement benefit obligation   (17,296)    
Company matching contribution to defined contribution (401(k)) plans   640 0 0
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   84,966 73,878  
Supplemental Executive Benefits Pension Plan SERB [Member]
        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Employer contributions   16,700    
Change in benefit obligation [Roll Forward]        
Benefit obligation at beginning of period   19,658    
Benefit obligation at end of period   24,694    
Change in plan assets [Roll Forward]        
Fair value of plan assets at beginning of period   0    
Employer contributions   16,700    
Fair value of assets at end of period   0    
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Projected Benefit Obligation   24,694    
Accumulated Benefit Obligation   23,461 19,143  
Fair value of pension plan assets   0    
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0    
Qualified Defined Benefit Plans [Member]
        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Employer contributions   17,700    
Change in plan assets [Roll Forward]        
Employer contributions   17,700    
Pension [Member]
        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Employer contributions   19,004 1,895  
Change in benefit obligation [Roll Forward]        
Benefit obligation at beginning of period   130,427 114,181  
Service cost   3,133 2,979 2,784
Interest cost   6,976 6,407 6,482
Plan changes   0 0  
Medicare Part D   0 0  
Actuarial loss   30,490 8,762  
Benefits paid   (7,608) (6,458)  
Curtailment/special termination benefits   1,147 4,556 0
Benefit obligation at end of period   164,565 130,427 114,181
Change in plan assets [Roll Forward]        
Fair value of plan assets at beginning of period   73,878 69,626  
Actual return on plan assets   (307) 8,815  
Employer contributions   19,004 1,895  
Benefits paid   (7,608) (6,458)  
Fair value of assets at end of period   84,967 73,878 69,626
Funded status of plans [Abstract]        
Funded status   (79,598) (56,549)  
Amounts Recognized in the Statement of Financial Position [Abstract]        
Current liabilities   (8,699) (18,754)  
Non-current liabilities   (70,899) (37,794)  
Net amount recognized   (79,598) (56,549)  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Net loss (gain)   80,092 44,527  
Prior service cost (benefit)   608 746  
Total   80,700 45,273  
Net loss   37,427 5,322  
Prior service benefit arising during the period   0 0  
Amortization of net loss   (1,863) (1,660)  
Amortization of prior service benefit (cost)   (137) (137)  
Prior service cost (benefit) recognized due to plan amendments   0 0  
Total amount recognized in other comprehensive loss   35,427 3,525  
Net periodic benefit cost   6,625 10,363 9,773
Total recognized in net periodic benefit cost and other comprehensive loss   42,052 13,888  
Projected Benefit Obligation   164,565 130,427 114,181
Fair value of pension plan assets   84,967 73,878 69,626
Expected pension plan contributions   8,699    
Expected OPEB benefits payments   7,682    
Net periodic benefit cost [Abstract]        
Service cost   3,133 2,979 2,784
Interest cost   6,976 6,407 6,482
Expected return on plan assets   (6,631) (5,376) (4,336)
Amortization of prior service costs   137 137 162
Amortization of net loss   1,863 1,660 2,105
Net periodic benefit cost   5,478 5,807 7,197
Special termination benefits   1,147 4,556 0
Effect of plan amendments   0 0 0
Curtailment cost   0 0 2,576
Total net periodic benefit cost   6,625 10,363 9,773
Amounts that will be amortized from Accumulated other comprehensive income (loss) in next fiscal year [Abstract]        
Estimated net loss (gain) expected to be amortized from accumulated other comprehensive income into net periodic benefit cost   3,521    
Estimated prior service cost (benefit) expected to be amortized from accumulated other comprehensive income into net periodic benefit cost   137    
Weighted average assumptions used in calculating benefit obligations [Abstract]        
Discount rate (in hundredths)   4.25% 5.38%  
Rate of compensation increase, year one (in hundredths)   3.00% [1] 3.00% [1]  
Rate of compensation increase, year two (in hundredths)   4.00% [1] 3.00% [1]  
Rate of compensation increase, years thereafter (in hundredths)   4.00% [1] 4.00% [1]  
Measurement date   12/31/2011 12/31/2010  
Weighted average assumptions used to determine net periodic benefit cost [Abstract]        
Measurement date   12/31/2010 12/31/2009 12/31/2008
Fiscal year end   12/31/2011 12/31/2010 12/31/2009
Discount rate (in hundredths)   5.49% [1] 5.75% 6.54%
Rate of compensation increase (in hundredths)   3.00% 2.00% 4.00%
Rate of compensation increase, year two (in hundredths)   3.00% 3.00%  
Rate of compensation increase, years thereafter (in hundredths)   4.00% 4.00%  
Expected return on plan assets (in hundredths)   8.00% 8.00% 8.00%
Target asset allocations [Abstract]        
Target asset allocation percentage of assets, U.S. equities (in hundredths)   50.00% 50.00%  
Target asset allocation percentages of assets, International equities (in hundredths)   15.00% 15.00%  
Target asset allocation percentages of assets, fixed income (in hundredths)   35.00% 35.00%  
Actual plan asset allocations [Abstract]        
U.S. equities   51.00% 50.00%  
International equities   14.00% 15.00%  
Fixed income   35.00% 35.00%  
Actual asset allocation percentages of assets (in hundredths)   100.00% 100.00%  
Defined benefit plan net periodic benefit cost long-term rate of return on plan assets assumed (in hundredths)   8.00% 8.00% 8.00%
Expected future benefit payments   7,682    
Estimated future employer contributions in next fiscal year   8,699    
Estimated future benefit payments [Abstract]        
2012   7,682    
2013   7,737    
2014   8,212    
2015   8,373    
2016   8,464    
2017 - 2021   49,922    
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   84,967 73,878 69,626
Pension [Member] | Level 1 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | Level 2 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   84,967 73,878  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   84,967 73,878  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   84,967 73,878  
Pension [Member] | Level 3 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | U.S. Equities [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   43,058 36,848  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   43,058 36,848  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   43,058 36,848  
Pension [Member] | U.S. Equities [Member] | Level 1 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | U.S. Equities [Member] | Level 2 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   43,058 36,848  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   43,058 36,848  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   43,058 36,848  
Pension [Member] | U.S. Equities [Member] | Level 3 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | International Equities [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   12,243 11,095  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   12,243 11,095  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   12,243 11,095  
Pension [Member] | International Equities [Member] | Level 1 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | International Equities [Member] | Level 2 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   12,243 11,095  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   12,243 11,095  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   12,243 11,095  
Pension [Member] | International Equities [Member] | Level 3 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | Fixed Income [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   29,666 25,935  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   29,666 25,935  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   29,666 25,935  
Pension [Member] | Fixed Income [Member] | Level 1 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
Pension [Member] | Fixed Income [Member] | Level 2 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   29,666 25,935  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   29,666 25,935  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   29,666 25,935  
Pension [Member] | Fixed Income [Member] | Level 3 [Member]
        
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   0 0  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Fair value of pension plan assets   0 0  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0  
OPEB [Member]
        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Employer contributions   7,770 6,038  
Change in benefit obligation [Roll Forward]        
Benefit obligation at beginning of period   109,717 186,384  
Service cost   1,668 3,534 3,542
Interest cost   5,728 10,402 11,007
Plan changes   0 (112,487)  
Medicare Part D   160 538  
Actuarial loss   24,786 26,996  
Benefits paid   (7,770) (6,038)  
Curtailment/special termination benefits   0 388 0
Benefit obligation at end of period   134,289 109,717 186,384
Change in plan assets [Roll Forward]        
Fair value of plan assets at beginning of period   0 0  
Actual return on plan assets   0 0  
Employer contributions   7,770 6,038  
Benefits paid   (7,770) (6,038)  
Fair value of assets at end of period   0 0 0
Funded status of plans [Abstract]        
Funded status   (134,289) (109,717)  
Amounts Recognized in the Statement of Financial Position [Abstract]        
Current liabilities   (6,211) (6,409)  
Non-current liabilities   (128,078) (103,308)  
Net amount recognized   (134,289) (109,717)  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Net loss (gain)   89,420 79,697  
Prior service cost (benefit)   (27,861) (60,674)  
Total   61,559 19,023  
Net loss   24,785 26,996  
Prior service benefit arising during the period   0 (112,488)  
Amortization of net loss   (15,063) (6,455)  
Amortization of prior service benefit (cost)   32,814 10,879  
Prior service cost (benefit) recognized due to plan amendments   0 50,475  
Total amount recognized in other comprehensive loss   42,536 (30,593)  
Net periodic benefit cost   (10,355) (40,575) 915
Total recognized in net periodic benefit cost and other comprehensive loss   32,181 (71,168)  
Projected Benefit Obligation   134,289 109,717 186,384
Fair value of pension plan assets   0 0 0
Expected OPEB benefits payments   6,211    
Net periodic benefit cost [Abstract]        
Service cost   1,668 3,534 3,542
Interest cost   5,728 10,402 11,007
Expected return on plan assets   0 0 0
Amortization of prior service costs   (32,814) (10,879) (1,144)
Amortization of net loss   15,063 6,454 2,485
Net periodic benefit cost   (10,355) 9,511 15,890
Special termination benefits   0 388 0
Effect of plan amendments   0 (50,474) 0
Curtailment cost   0 0 (14,975)
Total net periodic benefit cost   (10,355) (40,575) 915
Amounts that will be amortized from Accumulated other comprehensive income (loss) in next fiscal year [Abstract]        
Estimated net loss (gain) expected to be amortized from accumulated other comprehensive income into net periodic benefit cost   6,426    
Estimated prior service cost (benefit) expected to be amortized from accumulated other comprehensive income into net periodic benefit cost   (4,250)    
Weighted average assumptions used in calculating benefit obligations [Abstract]        
Discount rate (in hundredths)   4.25% 5.26%  
Rate of compensation increase, year one (in hundredths)   3.00% [1] 3.00% [1]  
Rate of compensation increase, year two (in hundredths)   4.00% [1] 3.00% [1]  
Rate of compensation increase, years thereafter (in hundredths)   4.00% [1] 4.00% [1]  
Measurement date   12/31/2011 12/31/2010  
Weighted average assumptions used to determine net periodic benefit cost [Abstract]        
Measurement date   12/31/2010 12/31/2009 12/31/2008
Fiscal year end   12/31/2011 12/31/2010 12/31/2009
Discount rate (in hundredths)   5.23% 5.89% 6.31%
Rate of compensation increase (in hundredths)   3.00% 2.00% 4.00%
Rate of compensation increase, year two (in hundredths)   3.00% 3.00%  
Rate of compensation increase, years thereafter (in hundredths)   4.00% 4.00%  
Expected return on plan assets (in hundredths)   0.00% 0.00% 0.00%
Effect of the Medicare Part D subsidy on accumulated projected benefit obligation   15,364    
Percentage effect of the Medicare Part D subsidy on accumulated projected benefit obligation (in hundredths)   (11.00%)    
Medical cost inflation trend   Initially estimated to be 10, declining to 5 over six years and thereafter    
Defined Benefit Plan, Health Care Cost Trend Rate Assumed for Next Fiscal Year (in hundredths)   10.00%    
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate (in hundredths)   5.00%    
Actual plan asset allocations [Abstract]        
Defined benefit plan net periodic benefit cost long-term rate of return on plan assets assumed (in hundredths)   0.00% 0.00% 0.00%
Expected future benefit payments   6,211    
Estimated future benefit payments [Abstract]        
2012   6,211    
2013   5,402    
2014   5,980    
2015   6,510    
2016   6,832    
2017 - 2021   39,042    
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   0 0 0
Hourly Pension Plan [Member]
        
Change in benefit obligation [Roll Forward]        
Benefit obligation at end of period   75,216 61,291  
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   47,984 40,940  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Projected Benefit Obligation   75,216 61,291  
Accumulated Benefit Obligation   74,545 61,276  
Fair value of pension plan assets   47,984 40,940  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   47,984 40,940  
Salaried Pension Plan [Member]
        
Change in benefit obligation [Roll Forward]        
Benefit obligation at end of period   64,655 49,478  
Change in plan assets [Roll Forward]        
Fair value of assets at end of period   36,982 32,938  
Amounts Recognized in accumulated other comprehensive loss (pre-tax) [Abstract]        
Projected Benefit Obligation   64,655 49,478  
Accumulated Benefit Obligation   58,742 45,633  
Fair value of pension plan assets   36,982 32,938  
Defined Benefit Plan Disclosure [Line Items]        
Fair value of pension plan assets   36,982 32,938  
USWA ME Plan [Member]
        
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]        
Contributions to employees worker's union   2,117 [2],[3] 1,306 [2] 1,352 [2]
Withdrawal from Plan Probable   No    
Surcharge Imposed   No    
Expiration Date of Collective Bargaining Agreement   April 1, 2015    
Funding percentage of plans in red zone   less than 65 percent funded    
Funding percentage of plans in yellow zone   less than 80 percent funded    
Funding percentage of plans in green zone   at least 80 percent funded    
Increase in number of union-represented employees at Hawesville (in hundredths)   10.00%    
Threshold percentage for disclosure of total contributions to the plan (in hundredths)   5.00%    
Estimated future benefit payments [Abstract]        
EIN / PN   23-6648508/499    
Pension Protection Act Zone Status   Green [4] Yellow [4]  
Subject to Financial Improvement/Rehabilitation Plan   No    
Contributions of Century Aluminum   $ 2,117 [2],[3] $ 1,306 [2] $ 1,352 [2]
[1] Rate of compensation increase is for year 1/year 2/years thereafter.
[2] Our contributions to the Steelworkers Pension Trust are not 5% or more of the total contributions to the plan.
[3] The number of union-represented employees at Hawesville increased approximately 10% due to the restart of curtailed operations.
[4] The most recent Pension Protection Act zone status available in 2011 and 2010 is for the plans' year-end December 31, 2010 and December 31, 2009, respectively. The zone status is based on information that Century received from the plan as well as publicly available information per the Department of Labor and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than 65 percent funded, plans in the yellow zone are less than 80 percent funded, and plans in the green zone are at least 80 percent funded.