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Acquisition of Sebree aluminum smelter Acquisition of Sebree aluminum smelter (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Sebree Smelter [Member]
Dec. 31, 2013
Sebree Smelter [Member]
Dec. 31, 2012
Sebree Smelter [Member]
Jun. 01, 2013
Sebree Smelter [Member]
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Business Acquisition [Line Items]                    
Sebree Primary Aluminum Capacity (tonnes)                   205,000
Purchase price for acquisition                   $ 61,000
Purchase price cash paid       48,058 0 0   48,000    
Gain on bargain purchase     5,253 5,253 0 0 5,253      
Valuation allowance release related to deferred tax assets       108,671 (117,362)   2,090      
Cash             48,083      
Deferred purchase price             1,910      
Inventories             59,018 59,018    
Prepaid and other current assets             2,273 2,273    
Property, plant and equipment – net             55,520 55,520    
Total assets acquired             116,811 116,811    
Accrued and other current liabilities             43,316 43,316    
Accrued pension benefit costs             996 996    
Accrued post retirement benefit costs             6,544 6,544    
Other liabilities             7,476 7,476    
Deferred taxes             3,233 3,233    
Total liabilities assumed             61,565 61,565    
Sebree revenue               247,178    
Sebree net income (1)               8,705 [1]    
Sebree power contract amortization 16,570 11,720 2,741 (31,031) 0 0 31,031      
Power contract liability assumed             36,625 36,625    
Pro forma revenues               1,662,707 1,755,196  
Pro forma loss from continuing operations               $ (83,035) $ (260,505)  
Loss per common share, basic               $ (0.94) $ (2.94)  
Loss per common share, diluted               $ (0.94) $ (2.94)  
[1] Sebree net income includes a non-recurring gain on bargain purchase of $5,253 and a non-recurring credit for the amortization of the deferred power contract liability of $31,031. As part of the Sebree acquisition, we recorded a $36,625 liability for an unfavorable power contract we assumed. The fair value measurement of the power contract was based on the difference between the forecasted contract rate and estimated market power rates through the contract termination date in January 2014. We will amortize the power contract liability over the remaining period of the contract through January 31, 2014, resulting in a credit to our depreciation and amortization expense within cost of goods sold. The credit reflects the amortization under our ownership from June 1, 2013 through December 31, 2013.