Condensed consolidating financial information (Tables)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Condensed Financial Information of Parent Company Only Disclosure [Abstract]



CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2013
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Reclassifications and Eliminations			Consolidated
Assets:
Cash and cash equivalents	$	—		$	37,977		$	46,111		$	—		$	84,088
Restricted cash	787			910			—			—			1,697
Accounts receivable — net	45,205			10,979			—			—			56,184
Due from affiliates	303,031			36,995			2,304,874			(2,601,313		)	43,587
Inventories	166,137			73,478			—			—			239,615
Prepaid and other current assets	6,350			20,531			5,395			—			32,276
Deferred taxes — current portion	—			14,540			—			(926		)	13,614
Total current assets	521,510			195,410			2,356,380			(2,602,239		)	471,061
Investment in subsidiaries	55,929			—			(1,087,216		)	1,031,287			—
Property, plant and equipment — net	351,096			895,381			1,621			(437		)	1,247,661
Due from affiliates – less current portion	—			32,066			—			(32,066		)	—
Other assets	21,163			33,132			32,431			4,748			91,474
Total	$	949,698		$	1,155,989		$	1,303,216		$	(1,598,707	)	$	1,810,196
Liabilities and shareholders’ equity:
Accounts payable, trade	$	65,384		$	42,351		$	755		$	—		$	108,490
Due to affiliates	2,015,550			97,351			—			(2,059,319		)	53,582
Accrued and other current liabilities	25,419			26,005			16,486			1,556			69,466
Accrued employee benefits costs	12,880			—			2,737			(7,207		)	8,410
Industrial revenue bonds	7,815			—			—			—			7,815
Total current liabilities	2,127,048			165,707			19,978			(2,064,970		)	247,763
Senior notes payable	—			—			246,528			—			246,528
Accrued pension benefit costs — less current portion	6,183			—			26,458			7,207			39,848
Accrued postretirement benefit costs — less current portion	124,466			—			4,818			—			129,284
Other liabilities/intercompany loan	58,367			548,985			2,622			(572,231		)	37,743
Deferred taxes	—			106,218			—			—			106,218
Total noncurrent liabilities	189,016			655,203			280,426			(565,024		)	559,621
Shareholders’ equity:
Series A Preferred stock	—			—			1			—			1
Common stock	60			12			935			(72		)	935
Additional paid-in capital	268,467			179,493			2,508,574			(447,960		)	2,508,574
Treasury stock, at cost	—			—			(49,924		)	—			(49,924		)
Accumulated other comprehensive loss	(92,803		)	(1,678		)	(91,832		)	94,481			(91,832		)
Retained earnings (accumulated deficit)	(1,542,090		)	157,252			(1,364,942		)	1,384,838			(1,364,942		)
Total shareholders’ equity	(1,366,366		)	335,079			1,002,812			1,031,287			1,002,812
Total	$	949,698		$	1,155,989		$	1,303,216		$	(1,598,707	)	$	1,810,196



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 and shareholders’ equity:
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	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:
Series A 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 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 Statement of Comprehensive Income (Loss)



CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2013
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Reclassifications and Eliminations			Consolidated
NET SALES:
Third-party customers	$	751,767		$	191,495		$	—		$	—		$	943,262
Related parties	270,314			240,737			—			—			511,051
	1,022,081			432,232			—			—			1,454,313
Cost of goods sold	1,060,613			354,177			—			—			1,414,790
Gross profit (loss)	(38,532		)	78,055			—			—			39,523
Other operating expense – net	8,602			—			—			—			8,602
Selling, general and administrative expenses	52,398			15,079			—			—			67,477
Operating income (loss)	(99,532		)	62,976			—			—			(36,556		)
Interest expense – third party	(23,054		)	(37		)	—			—			(23,091		)
Interest expense – affiliates	56,480			(56,480		)	—			—			—
Interest income – third party	37			691			—			—			728
Net gain on forward and derivative contracts	16,598			—			—			—			16,598
Gain on bargain purchase	5,253			—			—			—			5,253
Loss on early extinguishment of debt	(3,272		)	—			—			—			(3,272		)
Other income – net	410			86			—			—			496
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries and joint ventures	(47,080		)	7,236			—			—			(39,844		)
Income tax benefit (expense)	(3,386		)	255			—			—			(3,131		)
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures	(50,466		)	7,491			—			—			(42,975		)
Equity in earnings (loss) of subsidiaries and joint ventures	(13,136		)	2,662			(40,313		)	53,449			2,662
Net income (loss)	$	(63,602	)	$	10,153		$	(40,313	)	$	53,449		$	(40,313	)
Other comprehensive income (loss) before income tax effect	$	52,547		$	(186	)	$	60,924		$	(52,361	)	$	60,924
Income tax effect	(1,531		)	33			(1,564		)	1,498			(1,564		)
Other comprehensive income (loss)	51,016			(153		)	59,360			(50,863		)	59,360
Comprehensive income (loss)	$	(12,586	)	$	10,000		$	19,047		$	2,586		$	19,047



CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2012
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Reclassifications and Eliminations			Consolidated
NET SALES:
Third-party customers	$	517,245		$	202,567		$	—		$	—		$	719,812
Related parties	304,730			247,569			—			—			552,299
	821,975			450,136			—			—			1,272,111
Cost of goods sold	849,388			376,381			—			—			1,225,769
Gross profit (loss)	(27,413		)	73,755			—			—			46,342
Other operating expense – net	18,253			—			—			—			18,253
Selling, general and administrative expenses	28,831			6,532			—			—			35,363
Operating income (loss)	(74,497		)	67,223			—			—			(7,274		)
Interest expense – third party	(24,029		)	—			—			—			(24,029		)
Interest expense – affiliates	63,935			(63,935		)	—			—			—
Interest income – third party	27			465			—			—			492
Interest income – related parties	—			62			—			—			62
Net loss on forward and derivative contracts	(4,150		)	—			—			—			(4,150		)
Other income (expense) – net	30,038			5,538			—			(30,000		)	5,576
Income (loss) before income taxes and equity in earnings (loss) of subsidiaries and joint ventures	(8,676		)	9,353			—			(30,000		)	(29,323		)
Income tax benefit (expense)	1,072			(9,982		)	—			—			(8,910		)
Loss before equity in earnings (loss) of subsidiaries and joint ventures	(7,604		)	(629		)	—			(30,000		)	(38,233		)
Equity in earnings (loss) of subsidiaries and joint ventures	(2,970		)	2,623			(35,610		)	38,580			2,623
Net income (loss)	$	(10,574	)	$	1,994		$	(35,610	)	$	8,580		$	(35,610	)
Other comprehensive income (loss) before income tax effect	$	(13,029	)	$	(186	)	$	(15,040	)	$	13,215		(15,040		)
Income tax effect	(1,598		)	34			(1,564		)	1,564			(1,564		)
Other comprehensive income (loss)	(14,627		)	(152		)	(16,604		)	14,779			(16,604		)
Comprehensive income (loss)	$	(25,201	)	$	1,842		$	(52,214	)	$	23,359		$	(52,214	)



CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the year ended December 31, 2011
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Reclassifications and Eliminations			Consolidated
Net sales:
Third-party customers	$	552,758		$	239,235		$	—		$	—		$	791,993
Related parties	283,038			281,393			—			—			564,431
	835,796			520,628			—			—			1,356,424
Cost of goods sold	866,366			400,536			—			—			1,266,902
Gross profit (loss)	(30,570		)	120,092			—			—			89,522
Other operating income - net	(3,806		)	—			—			—			(3,806		)
Selling, general and administrative expenses	39,100			6,932			—			—			46,032
Operating income (loss)	(65,864		)	113,160			—			—			47,296
Interest expense – third party	(25,129		)	—			—			—			(25,129		)
Interest expense – affiliates	68,174			(68,174		)	—			—			—
Interest income – third party	54			284			—			—			338
Interest income – related parties	—			303			—			—			303
Net gain on forward and derivative contracts	804			—			—			—			804
Loss on early extinguishment of debt	(763		)	—			—			—			(763		)
Other expense - net	(43		)	(567		)	—			—			(610		)
Income (loss) before taxes and equity in earnings (loss) of subsidiaries and joint ventures	(22,767		)	45,006			—			—			22,239
Income tax benefit (expense)	4,484			(18,843		)	—			—			(14,359		)
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures	(18,283		)	26,163			—			—			7,880
Equity in earnings (loss) of subsidiaries and joint ventures	3,798			3,445			11,325			(15,123		)	3,445
Net income (loss)	$	(14,485	)	$	29,608		$	11,325		$	(15,123	)	$	11,325
Other comprehensive income (loss) before income tax effect	$	(66,211	)	$	(186	)	$	(78,841	)	$	66,397		$	(78,841	)
Income tax effect	(5,804		)	33			(5,771		)	5,771			(5,771		)
Other comprehensive income (loss)	(72,015		)	(153		)	(84,612		)	72,168			(84,612		)
Comprehensive income (loss)	$	(86,500	)	$	29,455		$	(73,287	)	$	57,045		$	(73,287	)

Condensed Cash Flow Statement



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the year ended December 31, 2013
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Consolidated
Net cash provided by (used in) operating activities	$	31,713		$	(11,995	)	$	—		$	19,718
Investing activities:
Purchase of property, plant and equipment	(17,199		)	(28,105		)	(1,229		)	(46,533		)
Nordural expansion — Helguvik	—			(3,331		)	—			(3,331		)
Purchase of carbon anode assets and improvements	—			(18,213		)	—			(18,213		)
Purchase of Sebree smelter	—			—			(48,058		)	(48,058		)
Proceeds from sale of property, plant and equipment	14			511			—			525
Investments in and advances to joint ventures	—			—			(125		)	(125		)
Restricted and other cash deposits	(529		)	(910		)	—			(1,439		)
Net cash used in investing activities	(17,714		)	(50,048		)	(49,412		)	(117,174		)
Financing activities:
Repayment of debt	—			—			(249,604		)	(249,604		)
Proceeds from issuance of debt	—			—			246,330			246,330
Borrowings under revolving credit facility	—			6,000			16,725			22,725
Repayments under revolving credit facility	—			—			(16,725		)	(16,725		)
Debt issuance costs	—			—			(3,994		)	(3,994		)
Debt retirement costs	—			—			(1,208		)	(1,208		)
Intercompany transactions	(13,999		)	(15,996		)	29,995			—
Issuance of common stock	—			—			44			44
Net cash provided by (used in) financing activities	(13,999		)	(9,996		)	21,563			(2,432		)
Change in cash and cash equivalents	—			(72,039		)	(27,849		)	(99,888		)
Cash and cash equivalents, beginning of the period	—			110,016			73,960			183,976
Cash and cash equivalents, end of the period	$	—		$	37,977		$	46,111		$	84,088



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the year ended December 31, 2012
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Consolidated
Net cash provided by operating activities	$	17,405		$	19,734		$	—		$	37,139
Investing activities:
Purchase of property, plant and equipment	(4,777		)	(12,711		)	(189		)	(17,677		)
Nordural expansion — Helguvik	—			(7,317		)	—			(7,317		)
Purchase of carbon anode assets and improvements	(13,814		)	—			—			(13,814		)
Investments in and advances to joint ventures	—			—			(275		)	(275		)
Payments received from joint ventures	3,456			—			3,166			6,622
Proceeds from sale of property, plant and equipment	—			188			—			188
Restricted and other cash deposits	(258		)	—			—			(258		)
Net cash provided by (used in) investing activities	(15,393		)	(19,840		)	2,702			(32,531		)
Financing activities:
Borrowings under revolving credit facility	—			—			18,076			18,076
Repayments under revolving credit facility	—			—			(18,076		)	(18,076		)
Intercompany transactions	(2,012		)	(49,035		)	51,047			—
Repurchase of common stock	—			—			(4,033		)	(4,033		)
Net cash provided by (used in) financing activities	(2,012		)	(49,035		)	47,014			(4,033		)
Change in cash and cash equivalents	—			(49,141		)	49,716			575
Cash and cash equivalents, beginning of the period	—			159,157			24,244			183,401
Cash and cash equivalents, end of the period	$	—		$	110,016		$	73,960		$	183,976



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the year ended December 31, 2011
	Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			The Company			Consolidated
Net cash provided by (used in) operating activities	$	(10,187	)	$	7,251		$	—		$	(2,936	)
Investing activities:
Purchase of property, plant and equipment	(8,451		)	(11,199		)	(450		)	(20,100		)
Nordural expansion — Helguvik	—			(12,882		)	—			(12,882		)
Proceeds from sale of property, plant and equipment	1,415			56			—			1,471
Investments in and advances to joint ventures	—			—			(113		)	(113		)
Payments received from joint ventures	—			—			3,056			3,056
Restricted and other cash deposits	3,673			—			—			3,673
Net cash provided by (used in) investing activities	(3,363		)	(24,025		)	2,493			(24,895		)
Financing activities:
Repayment of debt	—			—			(47,067		)	(47,067		)
Repayment of contingent obligation	(189		)	—			—			(189		)
Borrowings under revolving credit facility	—			—			15,900			15,900
Repayments under revolving credit facility	—			—			(15,900		)	(15,900		)
Intercompany transactions	13,739			(38,992		)	25,253			—
Repurchase of common stock	—			—			(45,891		)	(45,891		)
Issuance of common stock	—			—			83			83
Net cash provided by (used in) financing activities	13,550			(38,992		)	(67,622		)	(93,064		)
Change in cash and cash equivalents	—			(55,766		)	(65,129		)	(120,895		)
Cash and cash equivalents, beginning of the period	—			214,923			89,373			304,296
Cash and cash equivalents, end of the period	$	—		$	159,157		$	24,244		$	183,401