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Acquisition of Sebree aluminum smelter (Tables) | 9 Months Ended
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Sep. 30, 2013
Business Combinations [Abstract] |
Schedule of Purchase Price Allocation | The following table summarizes the preliminary estimates of fair value of the assets acquired and the liabilities assumed as of the acquisition date:
| Acquisition Date Estimated Fair Value as of June 1, 2013 | Measurement Period Adjustments | Acquisition Date Estimated Fair Value as of September 30, 2013
Consideration: |  |  |
Cash (1) | $ | 47,373 |  | $ | 710 |  | $ | 48,083 |
Assets Acquired: |  |  |
Inventories | 58,496 |  | 522 |  | 59,018 |
Prepaid and other current assets | 363 |  | — |  | 363 |
Property, plant and equipment – net | 55,520 |  | — |  | 55,520 |
Total assets acquired | $ | 114,379 |  | $ | 522 |  | $ | 114,901 |
Liabilities Assumed: |  |  |
Accrued and other current liabilities | $ | 44,121 |  | $ | (805 | ) | $ | 43,316 |
Accrued pension benefit costs | 5,039 |  | (4,043 | ) | 996 |
Accrued post retirement benefit costs | 6,544 |  | — |  | 6,544 |
Other liabilities | 8,003 |  | (527 | ) | 7,476 |
Deferred taxes | 1,257 |  | 1,976 |  | 3,233 |
Total liabilities assumed | $ | 64,964 |  | $ | (3,399 | ) | $ | 61,565 |
Gain on bargain purchase: | $ | 2,042 |  | $ | 3,211 |  | $ | 5,253 |
(1) | This amount represents our preliminary estimate of consideration based on our expectation of the working capital adjustments. The working capital adjustments have not yet been finalized.
Sebree Revenue and Net loss since Acquisition Date | Through September 30, 2013, the actual revenue and net loss of Sebree since the acquisition date of June 1, 2013 included in the consolidated statement of operations is as follows:
| Three months ended September 30, 2013 | Nine months ended September 30, 2013
Sebree revenue | $ | 101,531 |  | $ | 140,284 |
Sebree net loss | (1,800 | ) | (2,044 | )
Business Acquisition, Pro Forma Information | The following unaudited pro forma financial information for the nine months ended September 30, 2013 and three and nine months ended September 30, 2012 reflects our results of continuing operations as if the acquisition of Sebree had been completed on January 1, 2012. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2012, nor is it indicative of the future consolidated results of operations or financial position of the combined companies.
| Three months ended September 30, | Nine months ended September 30,
| 2012 | 2013 | 2012
Pro forma revenues | $ | 410,009 |  | $ | 1,261,533 |  | $ | 1,300,869 |
Pro forma loss from continuing operations | (12,620 | ) | (57,853 | ) | (16,951 | )
Loss per common share, basic | (0.14 | ) | (0.65 | ) | (0.19 | )
Loss per common share, diluted | (0.14 | ) | (0.65 | ) | (0.19 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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