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Quarterly Information (Unaudited) Quarterly Information (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Information
Financial results by quarter for the years ended December 31, 2013 and 2012 are as follows:

 
Net sales
Gross profit (loss)
Net income (loss)
Net income (loss) allocated to common shareholders
Earnings (loss) per share
2013
 
 
 
 
 
4th Quarter (1)
$
401,174

$
15,285

$
(9,675
)
$
(9,675
)
$
(0.11
)
3rd Quarter (2)
399,928

12,354

(9,507
)
(9,507
)
(0.11
)
2nd Quarter (3)
331,937

(5,698
)
(29,384
)
(29,384
)
(0.33
)
1st Quarter (4)
321,274

17,582

8,253

7,567

0.09

2012
 

 

 

 

 

4th Quarter
$
317,667

$
16,543

$
(6,909
)
$
(6,909
)
$
(0.08
)
3rd Quarter (5)
304,635

3,250

(12,023
)
(12,023
)
(0.14
)
2nd Quarter (6)
323,619

5,957

(12,277
)
(12,277
)
(0.14
)
1st Quarter (7)
326,190

20,592

(4,401
)
(4,401
)
(0.05
)

(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.