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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
NET SALES:                      
Third-party customers                 $ 943,262 $ 719,812 $ 791,993
Related parties                 511,051 552,299 564,431
Sales Revenue – net 401,174 [1] 399,928 [2] 331,937 [3] 321,274 [4] 317,667 304,635 [5] 323,619 [6] 326,190 [7] 1,454,313 1,272,111 1,356,424
Cost of goods sold                 1,414,790 1,225,769 1,266,902
Gross profit 15,285 [1] 12,354 [2] (5,698) [3] 17,582 [4] 16,543 3,250 [5] 5,957 [6] 20,592 [7] 39,523 46,342 89,522
Other operating expense (income) – net                 8,602 18,253 (3,806)
Selling, general and administrative expenses                 67,477 35,363 46,032
Operating income (loss)                 (36,556) (7,274) 47,296
Interest expense – third party                 (23,091) (24,029) (25,129)
Interest income – third party                 728 492 338
Interest income – related parties                 0 62 303
Net gain (loss) on forward and derivative contracts                 16,598 (4,150) 804
Gain on bargain purchase     5,253           5,253 0 0
Loss on early extinguishment of debt     3,272           (3,272) 0 (763)
Other income (expense) – net                 496 5,576 (610)
Income (loss) before income taxes and equity in earnings of joint ventures                 (39,844) (29,323) 22,239
Income tax expense                 (3,131) (8,910) (14,359)
Income (loss) before equity in earnings of joint ventures                 (42,975) (38,233) 7,880
Equity in earnings of joint ventures                 2,662 2,623 3,445
Net income (loss) $ (9,675) [1] $ (9,507) [2] $ (29,384) [3] $ 8,253 [4] $ (6,909) $ (12,023) [5] $ (12,277) [6] $ (4,401) [7] $ (40,313) $ (35,610) $ 11,325
EARNINGS (LOSS) PER COMMON SHARE:                      
Basic and Diluted (in dollars per share) $ (0.11) [1] $ (0.11) [2] $ (0.33) [3] $ 0.09 [4] $ (0.08) $ (0.14) [5] $ (0.14) [6] $ (0.05) [7] $ (0.45) $ (0.40) $ 0.11
[1] The fourth quarter of 2013 cost of sales included a benefit of $16,570 related to deferred power contract liability amortization and a $9,040 benefit for lower of cost or market inventory adjustments. The financial results also include an $8,400 charge relating to the separation of our former CEO.
[2] The third quarter of 2013 cost of sales included an $11,720 benefit for deferred power contract liability amortization and a $5,762 benefit for lower of cost or market inventory adjustments.
[3] The second quarter of 2013 amounts differ from our reported second quarter results due to purchase price accounting adjustments related to the Sebree acquisition which were retroactively applied to the second quarter of 2013. The second quarter of 2013 net loss included a gain on bargain purchase of $5,253 and power contract amortization of $2,741 associated with the Sebree acquisition. Results were negatively impacted by a charge of $3,272 for the early extinguishment of our 8.0% Notes and a charge for severance and other expenses of $1,750 related to our corporate headquarters relocation. Cost of sales for the quarter included a $10,211 charge for lower of cost or market inventory adjustments.
[4] The first quarter of 2013 net income included a net benefit of $2,225 related to a litigation reserve adjustment and an unrealized gain of $15,722 related to a LME-based contingent obligation. Results were negatively impacted by severance and other expenses of $2,213 related to our corporate headquarters relocation. Cost of sales for the quarter included a $5,838 charge for lower of cost or market inventory adjustments.
[5] The third quarter of 2012 net loss included a net benefit of $4,100 related to certain litigation items. Cost of sales for the quarter included an $8,201 benefit for lower of cost or market inventory adjustments.
[6] The second quarter of 2012 net loss included an unrealized net gain on forward contracts of $1,778 primarily related to the mark to market of aluminum price protection options. Cost of sales for the quarter included a $5,434 charge for lower of cost or market inventory adjustments.
[7] The first quarter of 2012 net loss included an unrealized loss on forward contracts of $4,955 primarily related to the mark to market of aluminum price protection options. Cost of sales for the quarter included a $17,051 benefit for lower of cost or market inventory adjustments.