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Derivative and hedging instruments (Tables)
 12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair value of derivative assets and liabilities by balance sheet location
Fair Value of Derivative Assets and Liabilities
 
 
December 31,
 
Balance sheet location
2013
2012
DERIVATIVE ASSETS:
 
 
 
Midwest premium contracts
Prepaid and other current assets
$
140

$
—

TOTAL
 
$
140

$
—

DERIVATIVE LIABILITIES:
 
 

 

E.ON contingent obligation - net (1)
Other liabilities
$
—

$
15,369

Primary aluminum sales contract
Accrued and other current liabilities
140

1,170

TOTAL
 
$
140

$
16,539



(1)
See Note 6 Debt for additional information about the E.ON contingent obligation.
Derivatives not designated as hedging instruments
Derivatives not designated as hedging instruments:
 
Gain (loss) recognized in income from derivatives
 
Location
December 31, 2013
December 31, 2012
E.ON contingent obligation - net
Net gain (loss) on forward and derivative contracts
$
16,781

$
—

Primary aluminum sales contract
Related party sales
1,353

1,309

Midwest premium contracts
Net gain (loss) on forward and derivative contracts
140

—

Primary aluminum sales contract
Net gain (loss) on forward and derivative contracts
(323
)
(1,571
)
E.ON contingent obligation - net
Interest expense – third party
(1,412
)
1,411

Primary aluminum put option contracts
Net gain (loss) on forward and derivative contracts
—

(2,725
)
Power contract
Net gain (loss) on forward and derivative contracts
—

147
Outstanding forward contracts not designed as hedging instruments
We had the following outstanding forward contracts that were entered into that were not designated as hedging instruments:
 
December 31, 2013
December 31, 2012
Primary aluminum sales contract premium (tonnes) (1)
1,782

20,400

Midwest premium contracts (tonnes)
6,000

—



(1)
Represents the remaining physical deliveries under the Glencore Metal Agreement.