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Condensed consolidating financial information
 3 Months Ended
Mar. 31, 2013
Condensed Consolidating Financial Information [Abstract]  
Condensed consolidating financial information
Condensed consolidating financial information
Our 8.0% senior secured notes due 2014 and 7.5% senior unsecured notes due 2014 are guaranteed by each of our material existing and future domestic subsidiaries, except for Nordural US LLC. Each subsidiary guarantor is 100% owned by Century. All guarantees are full and unconditional; all guarantees are joint and several. These notes are not guaranteed by our foreign subsidiaries (such subsidiaries and Nordural US LLC, collectively the “Non-Guarantor Subsidiaries”). We allocate corporate expenses or income to our subsidiaries and charge interest on certain intercompany balances.
The following summarized condensed consolidating balance sheets as of March 31, 2013 and December 31, 2012, condensed consolidating statements of operations for the three months ended March 31, 2013 and March 31, 2012, condensed consolidating statements of comprehensive income (loss) for the three months ended March 31, 2013 and March 31, 2012 and the condensed consolidating statements of cash flows for the three months ended March 31, 2013 and March 31, 2012 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts.
This summarized condensed consolidating financial information may not necessarily be indicative of the results of operations or financial position had Century, the guarantor subsidiaries or the non-guarantor subsidiaries operated as independent entities.
 
 
 
 
 
 
CONDENSED CONSOLIDATING BALANCE SHEET
As of March 31, 2013
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Reclassifications and Eliminations
Consolidated
Assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
121,660

$
73,811

$
—

$
195,471

Restricted cash
258

—

—

—

258

Accounts receivable — net
38,672

13,640

—

—

52,312

Due from affiliates
613,979

44,335

2,417,884

(3,032,637
)
43,561

Inventories
98,503

58,312

—

—

156,815

Prepaid and other current assets
4,397

30,787

5,979

—

41,163

Deferred taxes - current portion
—

19,726

—

—

19,726

Total current assets
755,809

288,460

2,497,674

(3,032,637
)
509,306

Investment in subsidiaries
38,107

—

(1,029,842
)
991,735

—

Property, plant and equipment, net
306,741

873,419

985

(375
)
1,180,770

Due from affiliates – less current portion
—

12,183

—

(12,183
)
—

Other assets
17,611

45,277

36,380

1,771

101,039

Total
$
1,118,268

$
1,219,339

$
1,505,197

$
(2,051,689
)
$
1,791,115

Liabilities:
 
 
 
 
 
Accounts payable, trade
$
37,924

$
37,011

$
861

$
—

$
75,796

Due to affiliates
2,122,737

111,113

200,176

(2,383,816
)
50,210

Accrued and other current liabilities
11,289

16,511

19,273

1,928

49,001

Accrued employee benefits costs — current portion
15,969

—

2,699

—

18,668

Industrial revenue bonds
7,815

—

—

—

7,815

Total current liabilities
2,195,734

164,635

223,009

(2,381,888
)
201,490

Senior notes payable
—

—

250,861

—

250,861

Accrued pension benefit costs — less current portion
35,451

—

31,871

—

67,322

Accrued postretirement benefit costs — less current portion
137,676

—

6,118

—

143,794

Other liabilities/intercompany loan
50,172

635,313

1,329

(661,536
)
25,278

Deferred taxes
—

110,361

—

—

110,361

Total noncurrent liabilities
223,299

745,674

290,179

(661,536
)
597,616

Shareholders’ equity:
 
 
 
 

Convertible preferred stock
—

—

1

—

1

Common stock
60

12

934

(72
)
934

Additional paid-in capital
303,659

150,743

2,507,671

(454,402
)
2,507,671

Treasury stock, at cost
—

—

(49,924
)
—

(49,924
)
Accumulated other comprehensive income (loss)
(145,782
)
(1,564
)
(150,297
)
147,346

(150,297
)
Retained earnings (accumulated deficit)
(1,458,702
)
159,839

(1,316,376
)
1,298,863

(1,316,376
)
Total shareholders’ equity
(1,300,765
)
309,030

992,009

991,735

992,009

Total
$
1,118,268

$
1,219,339

$
1,505,197

$
(2,051,689
)
$
1,791,115


 
 
 
 
 
 
CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2012
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Reclassifications and Eliminations
Consolidated
Assets:
 
 
 
 
 
Cash and cash equivalents
$
—

$
110,016

$
73,960

$
—

$
183,976

Restricted cash
258

—

—

—

258

Accounts receivable — net
38,328

12,339

—

—

50,667

Due from affiliates
604,008

38,328

2,391,249

(2,995,715
)
37,870

Inventories
97,847

62,078

—

—

159,925

Prepaid and other current assets
4,421

30,650

8,063

(8,159
)
34,975

Deferred taxes - current portion
—

17,799

—

1,927

19,726

Total current assets
744,862

271,210

2,473,272

(3,001,947
)
487,397

Investment in subsidiaries
40,335

—

(1,039,141
)
998,806

—

Property, plant and equipment — net
313,090

874,559

916

(351
)
1,188,214

Due from affiliates - less current portion
—

3,588

—

(3,588
)
—

Other assets
17,616

45,474

37,027

598

100,715

Total
$
1,115,903

$
1,194,831

$
1,472,074

$
(2,006,482
)
$
1,776,326

Liabilities:
 
 
 
 
 
Accounts payable, trade
$
37,301

$
37,627

$
442

$
—

$
75,370

Due to affiliates
2,098,320

105,945

193,788

(2,358,316
)
39,737

Accrued and other current liabilities
13,031

31,332

1,967

(6,231
)
40,099

Accrued employee benefits costs — current portion
15,926

—

2,757

—

18,683

Industrial revenue bonds
7,815

—

—

—

7,815

Total current liabilities
2,172,393

174,904

198,954

(2,364,547
)
181,704

Senior notes payable
—

—

250,582

—

250,582

Accrued pension benefit costs — less current portion
36,087

—

31,791

—

67,878

Accrued postretirement benefit costs — less current portion
137,184

—

5,921

—

143,105

Other liabilities/intercompany loan
65,377

614,585

2,183

(641,983
)
40,162

Deferred taxes
—

109,011

—

1,241

110,252

Total noncurrent liabilities
238,648

723,596

290,477

(640,742
)
611,979

Shareholders’ equity:
 
 
 
 
 
Convertible preferred stock
—

—

1

—

1

Common stock
60

12

933

(72
)
933

Additional paid-in capital
303,659

150,743

2,507,454

(454,402
)
2,507,454

Treasury stock, at cost
—

—

(49,924
)
—

(49,924
)
Accumulated other comprehensive income (loss)
(146,862
)
(1,525
)
(151,192
)
148,387

(151,192
)
Retained earnings (accumulated deficit)
(1,451,995
)
147,101

(1,324,629
)
1,304,894

(1,324,629
)
Total shareholders’ equity
(1,295,138
)
296,331

982,643

998,807

982,643

Total
$
1,115,903

$
1,194,831

$
1,472,074

$
(2,006,482
)
$
1,776,326

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the three months ended March 31, 2013
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Reclassifications and Eliminations
Consolidated
NET SALES:
 
 
 
 
 
Third-party customers
$
137,098

$
51,416

$
—

$
—

$
188,514

Related parties
66,629

66,131

—

—

132,760


203,727

117,547

—

—

321,274

Cost of goods sold
211,185

92,507

—

—

303,692

Gross profit (loss)
(7,458
)
25,040

—

—

17,582

Other operating expenses – net
1,096

—

—

—

1,096

Selling, general and administrative expenses
12,889

3,410

—

—

16,299

Operating income (loss)
(21,443
)
21,630

—

—

187

Interest expense – third party
(6,076
)
—

—

—

(6,076
)
Interest expense – affiliates
14,496

(14,496
)
—

—

—

Interest income – third party
14

117

—

—

131

Net gain on forward and derivative contracts
15,507

—

—

—

15,507

Other income (expense) - net
119

(49
)
—

—

70

Income before income taxes and equity in earnings (loss) of subsidiaries and joint ventures
2,617

7,202

—

—

9,819

Income tax benefit (expense)
(7,102
)
4,585

—

—

(2,517
)
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures
(4,485
)
11,787

—

—

7,302

Equity in earnings (loss) of subsidiaries and joint ventures
(2,222
)
951

8,253

(6,031
)
951

Net income (loss)
(6,707
)
12,738

8,253

(6,031
)
8,253

Other comprehensive income (loss) before income tax effect
1,084

(47
)
1,277

(1,037
)
1,277

Income tax effect
(391
)
9

(382
)
382

(382
)
Other comprehensive income (loss)
693

(38
)
895

(655
)
895

Comprehensive income (loss)
$
(6,014
)
$
12,700

$
9,148

$
(6,686
)
$
9,148


 
 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
For the three months ended March 31, 2012
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Reclassifications and Eliminations
Consolidated
Net sales:
 
 
 
 
 
Third-party customers
$
135,854

$
52,985

$
—

$
—

$
188,839

Related parties
74,530

62,821

—

—

137,351

 
210,384

115,806

—

—

326,190

Cost of goods sold
206,936

98,662

—

—

305,598

Gross profit
3,448

17,144

—

—

20,592

Other operating expense - net
3,721

—

—

—

3,721

Selling, general and administrative expenses
7,979

480

—

—

8,459

Operating income (loss)
(8,252
)
16,664

—

—

8,412

Interest expense – third party
(5,978
)
—

—

—

(5,978
)
Interest expense – affiliates
16,218

(16,218
)
—

—

—

Interest income – third party
11

127

—

—

138

Interest income – affiliates
—

60

—

—

60

Net loss on forward contracts
(5,159
)
—

—

—

(5,159
)
Other income (expense) - net
804

(498
)
—

—

306

Income (loss) before taxes and equity in earnings of subsidiaries and joint ventures
(2,356
)
135

—

—

(2,221
)
Income tax benefit (expense)
(253
)
(2,568
)
—

—

(2,821
)
Loss before equity in earnings (loss) of subsidiaries and joint ventures
(2,609
)
(2,433
)
—

—

(5,042
)
Equity in earnings (loss) of subsidiaries and joint ventures
(230
)
641

(4,401
)
4,631

641

Net income (loss)
(2,839
)
(1,792
)
(4,401
)
4,631

(4,401
)
Other comprehensive income (loss) before income tax effect
982

(47
)
203

—

1,138

Income tax effect
(322
)
8

(68
)
—

(382
)
Other comprehensive income (loss)
660

(39
)
135

—

756

Comprehensive loss
$
(2,179
)
$
(1,831
)
$
(4,266
)
$
4,631

$
(3,645
)
 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2013
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Consolidated
Net cash provided by (used in) operating activities
$
27,968

$
(5,567
)
$
—

$
22,401

Investing activities:
 
 
 

Purchase of property, plant and equipment
(1,723
)
(7,494
)
(147
)
(9,364
)
Nordural expansion — Helguvik
—

(1,745
)
—

(1,745
)
Purchase of carbon anode assets and improvements
—

(150
)
—

(150
)
Proceeds from the sale of property, plant and equipment
—

353

—

353

Net cash used in investing activities
(1,723
)
(9,036
)
(147
)
(10,906
)
Financing activities:
 
 
 
 
Intercompany transactions
(26,245
)
26,247

(2
)
—

Net cash provided by (used in) financing activities
(26,245
)
26,247

(2
)
—

Net change in cash and cash equivalents
—

11,644

(149
)
11,495

Cash and cash equivalents, beginning of the period
—

110,016

73,960

183,976

Cash and cash equivalents, end of the period
$
—

$
121,660

$
73,811

$
195,471

 
 
 
 
 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2012
 
Combined Guarantor Subsidiaries
Combined Non-Guarantor Subsidiaries
The Company
Consolidated
Net cash provided by (used in) operating activities
$
13,292

$
(8,394
)
$
—

$
4,898

Investing activities:
 
 
 


Purchase of property, plant and equipment
(1,649
)
(1,223
)
(27
)
(2,899
)
Nordural expansion — Helguvik
—

(1,946
)
—

(1,946
)
Investments in and advances to joint ventures
—

—

(100
)
(100
)
Dividends and payments received on advances from joint ventures
—

—

3,166

3,166

Proceeds from the sale of property, plant and equipment
—

58

—

58

Net cash provided by (used in) investing activities
(1,649
)
(3,111
)
3,039

(1,721
)
Financing activities:
 
 
 


Borrowings under revolving credit facility
—

—

18,076

18,076

Repayments under revolving credit facility
—

—

(18,076
)
(18,076
)
Intercompany transactions
(11,643
)
6,854

4,789

—

Repurchase of common stock
—

—

(4,033
)
(4,033
)
Net cash provided by (used in) financing activities
(11,643
)
6,854

756

(4,033
)
Net change in cash and cash equivalents
—

(4,651
)
3,795

(856
)
Cash and cash equivalents, beginning of the period
—

159,157

24,244

183,401

Cash and cash equivalents, end of the period
$
—

$
154,506

$
28,039

$
182,545