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Condensed consolidating financial information | 3 Months Ended
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Mar. 31, 2014
Condensed Consolidating Financial Information [Abstract] |
Condensed consolidating financial information | Condensed consolidating financial information Our 7.5% Notes due 2014 are guaranteed by each of our material existing and future domestic subsidiaries, except for Nordural US LLC. The Guarantor Subsidiaries are 100% owned by Century Aluminum Company (the "Company"). All guarantees are full and unconditional; all guarantees are joint and several. These notes are not guaranteed by our foreign subsidiaries (such subsidiaries and Nordural US LLC, collectively the "Non-Guarantor Subsidiaries"). We allocate corporate expenses or income to our subsidiaries and charge interest on certain intercompany balances. The following summarized condensed consolidating balance sheets as of March 31, 2014 and December 31, 2013, condensed consolidating statements of comprehensive income (loss) for the three months ended March 31, 2014 and 2013 and the condensed consolidating statements of cash flows for the three months ended March 31, 2014 and 2013 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts. This summarized condensed consolidating financial information may not necessarily be indicative of the results of operations, financial position or cash flows had the Company, the Guarantor Subsidiaries or the Non-Guarantor Subsidiaries operated as independent entities.
CONDENSED CONSOLIDATING BALANCE SHEET
As of March 31, 2014
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Assets: |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | 48,605 |  | $ | 3,893 |  | $ | — |  | $ | 52,498 |
Restricted cash | 787 |  | 245 |  | — |  | — |  | 1,032 |
Accounts receivable — net | 45,193 |  | 426 |  | — |  | — |  | 45,619 |
Due from affiliates | 282,130 |  | 33,567 |  | 2,340,716 |  | (2,600,282 | ) | 56,131 |
Inventories | 168,081 |  | 85,390 |  | — |  | (1,372 | ) | 252,099 |
Prepaid and other current assets | 6,210 |  | 17,702 |  | 5,627 |  | 5,662 |  | 35,201 |
Deferred taxes | — |  | 13,614 |  | — |  | — |  | 13,614 |
Total current assets | 502,401 |  | 199,549 |  | 2,350,236 |  | (2,595,992 | ) | 456,194 |
Investment in subsidiaries | 55,558 |  | — |  | (1,106,964 | ) | 1,051,406 |  | — |
Property, plant and equipment — net | 344,755 |  | 894,052 |  | 1,523 |  | (437 | ) | 1,239,893 |
Due from affiliates — less current portion | — |  | 32,730 |  | — |  | (32,730 | ) | — |
Other assets | 21,372 |  | 35,375 |  | 32,052 |  | 1,969 |  | 90,768 |
Total | $ | 924,086 |  | $ | 1,161,706 |  | $ | 1,276,847 |  | $ | (1,575,784 | ) | $ | 1,786,855 |
Liabilities and shareholders’ equity: |  |  |  |  |
Accounts payable, trade | $ | 52,467 |  | $ | 39,795 |  | $ | 2,242 |  | $ | 5,471 |  | $ | 99,975 |
Due to affiliates | 2,025,679 |  | 115,888 |  | — |  | (2,067,188 | ) | 74,379 |
Accrued and other current liabilities | 18,486 |  | 25,833 |  | 8,548 |  | (1,223 | ) | 51,644 |
Accrued employee benefits costs | 6,589 |  | — |  | 1,840 |  | — |  | 8,429 |
Industrial revenue bonds | 7,815 |  | — |  | — |  | — |  | 7,815 |
Total current liabilities | 2,111,036 |  | 181,516 |  | 12,630 |  | (2,062,940 | ) | 242,242 |
Senior notes payable | — |  | — |  | 246,615 |  | — |  | 246,615 |
Accrued pension benefit costs — less current portion | 12,603 |  | — |  | 27,378 |  | — |  | 39,981 |
Accrued postretirement benefit costs — less current portion | 126,123 |  | — |  | 5,073 |  | — |  | 131,196 |
Other liabilities/intercompany loan | 58,196 |  | 544,554 |  | 2,035 |  | (567,801 | ) | 36,984 |
Deferred taxes | — |  | 106,721 |  | — |  | — |  | 106,721 |
Total noncurrent liabilities | 196,922 |  | 651,275 |  | 281,101 |  | (567,801 | ) | 561,497 |
Shareholders’ equity: |  |  |  |  |
Series A Preferred stock | — |  | — |  | 1 |  | — |  | 1 |
Common stock | 60 |  | 12 |  | 936 |  | (72 | ) | 936 |
Additional paid-in capital | 268,468 |  | 175,943 |  | 2,508,882 |  | (444,411 | ) | 2,508,882 |
Treasury stock, at cost | — |  | — |  | (49,924 | ) | — |  | (49,924 | )
Accumulated other comprehensive loss | (92,217 | ) | (1,716 | ) | (91,733 | ) | 93,933 |  | (91,733 | )
Retained earnings (accumulated deficit) | (1,560,183 | ) | 154,676 |  | (1,385,046 | ) | 1,405,507 |  | (1,385,046 | )
Total shareholders’ equity | (1,383,872 | ) | 328,915 |  | 983,116 |  | 1,054,957 |  | 983,116 |
Total | $ | 924,086 |  | $ | 1,161,706 |  | $ | 1,276,847 |  | $ | (1,575,784 | ) | $ | 1,786,855 |
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 | — |  | 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 STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the three months ended March 31, 2014
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
NET SALES: |  |  |  |  |
Third-party customers | $ | 135,252 |  | $ | 12 |  | $ | — |  | $ | — |  | $ | 135,264 |
Related parties | 164,040 |  | 121,543 |  | — |  | — |  | 285,583 |
| 299,292 |  | 121,555 |  | — |  | — |  | 420,847 |
Cost of goods sold | 312,624 |  | 109,981 |  | — |  | — |  | 422,605 |
Gross profit (loss) | (13,332 | ) | 11,574 |  | — |  | — |  | (1,758 | )
Other operating expense – net | 2,414 |  | — |  | — |  | — |  | 2,414 |
Selling, general and administrative expenses | 9,371 |  | 691 |  | — |  | — |  | 10,062 |
Operating income (loss) | (25,117 | ) | 10,883 |  | — |  | — |  | (14,234 | )
Interest expense – third party | (5,419 | ) | (58 | ) | — |  | — |  | (5,477 | )
Interest expense – affiliates | 12,461 |  | (12,461 | ) | — |  | — |  | — |
Interest income – third party | 3 |  | 137 |  | — |  | — |  | 140 |
Net loss on forward and derivative contracts | (879 | ) | — |  | — |  | — |  | (879 | )
Other expense – net | (220 | ) | (33 | ) | — |  | — |  | (253 | )
Loss before income taxes and equity in earnings (losses) of subsidiaries and joint ventures | (19,171 | ) | (1,532 | ) | — |  | — |  | (20,703 | )
Income tax benefit (expense) | 1,447 |  | (544 | ) | — |  | 191 |  | 1,094 |
Income (loss) before equity in earnings (losses) of subsidiaries and joint ventures | (17,724 | ) | (2,076 | ) | — |  | 191 |  | (19,609 | )
Equity in earnings (losses) of subsidiaries and joint ventures | (366 | ) | (495 | ) | (20,104 | ) | 20,470 |  | (495 | )
Net income (loss) | $ | (18,090 | ) | $ | (2,571 | ) | $ | (20,104 | ) | $ | 20,661 |  | $ | (20,104 | )
Other comprehensive income (loss) before income tax effect | $ | 590 |  | $ | (47 | ) | $ | 812 |  | $ | (543 | ) | $ | 812 |
Income tax effect | (705 | ) | 8 |  | (713 | ) | 697 |  | (713 | )
Other comprehensive income (loss) | (115 | ) | (39 | ) | 99 |  | 154 |  | 99 |
Comprehensive income (loss) | $ | (18,205 | ) | $ | (2,610 | ) | $ | (20,005 | ) | $ | 20,815 |  | $ | (20,005 | )
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
For the three months ended March 31, 2013
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
NET SALES: |  |  |  |  |
Third-party customers | $ | 137,098 |  | $ | 51,416 |  | $ | — |  | $ | — |  | $ | 188,514 |
Related parties | 66,629 |  | 66,131 |  | — |  | — |  | 132,760 |
| 203,727 |  | 117,547 |  | — |  | — |  | 321,274 |
Cost of goods sold | 211,185 |  | 92,507 |  | — |  | — |  | 303,692 |
Gross profit (loss) | (7,458 | ) | 25,040 |  | — |  | — |  | 17,582 |
Other operating expense – net | 1,096 |  | — |  | — |  | — |  | 1,096 |
Selling, general and administrative expenses | 12,889 |  | 3,410 |  | — |  | — |  | 16,299 |
Operating income (loss) | (21,443 | ) | 21,630 |  | — |  | — |  | 187 |
Interest expense – third party | (6,076 | ) | — |  | — |  | — |  | (6,076 | )
Interest expense – affiliates | 14,496 |  | (14,496 | ) | — |  | — |  | — |
Interest income – third party | 14 |  | 117 |  | — |  | — |  | 131 |
Net gain on forward and derivative contracts | 15,507 |  | — |  | — |  | — |  | 15,507 |
Other income (expense) – net | 119 |  | (49 | ) | — |  | — |  | 70 |
Income before income taxes and equity in earnings (losses) of subsidiaries and joint ventures | 2,617 |  | 7,202 |  | — |  | — |  | 9,819 |
Income tax benefit (expense) | (7,102 | ) | 4,585 |  | — |  | — |  | (2,517 | )
Income (loss) before equity in earnings (losses) of subsidiaries and joint ventures | (4,485 | ) | 11,787 |  | — |  | — |  | 7,302 |
Equity in earnings (losses) of subsidiaries and joint ventures | (2,222 | ) | 951 |  | 8,253 |  | (6,031 | ) | 951 |
Net income (loss) | $ | (6,707 | ) | $ | 12,738 |  | $ | 8,253 |  | $ | (6,031 | ) | $ | 8,253 |
Other comprehensive income (loss) before income tax effect | $ | 1,084 |  | $ | (47 | ) | $ | 1,277 |  | $ | (1,037 | ) | $ | 1,277 |
Income tax effect | (391 | ) | 9 |  | (382 | ) | 382 |  | (382 | )
Other comprehensive income (loss) | 693 |  | (38 | ) | 895 |  | (655 | ) | 895 |
Comprehensive income (loss) | $ | (6,014 | ) | $ | 12,700 |  | $ | 9,148 |  | $ | (6,686 | ) | $ | 9,148 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2014
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Consolidated
Net cash provided by (used in) operating activities | $ | (42,154 | ) | $ | 31,413 |  | $ | — |  | $ | (10,741 | )
Investing activities: |  |  |  |
Purchase of property, plant and equipment | (2,525 | ) | (7,149 | ) | (26 | ) | (9,700 | )
Nordural expansion — Helguvik | — |  | (93 | ) | — |  | (93 | )
Purchase of carbon anode assets and improvements | — |  | (5,724 | ) | — |  | (5,724 | )
Restricted and other cash deposits | — |  | 665 |  | — |  | 665 |
Net cash used in investing activities | (2,525 | ) | (12,301 | ) | (26 | ) | (14,852 | )
Financing activities: |  |  |  |
Borrowings under revolving credit facilities | — |  | — |  | 18,870 |  | 18,870 |
Repayments under revolving credit facilities | — |  | (6,000 | ) | (18,870 | ) | (24,870 | )
Intercompany transactions | 44,679 |  | (2,484 | ) | (42,195 | ) | — |
Issuance of common stock | — |  | — |  | 3 |  | 3 |
Net cash provided by (used in) financing activities | 44,679 |  | (8,484 | ) | (42,192 | ) | (5,997 | )
Change in cash and cash equivalents | — |  | 10,628 |  | (42,218 | ) | (31,590 | )
Cash and cash equivalents, beginning of the period | — |  | 37,977 |  | 46,111 |  | 84,088 |
Cash and cash equivalents, end of the period | $ | — |  | $ | 48,605 |  | $ | 3,893 |  | $ | 52,498 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2013
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Consolidated
Net cash provided by (used in) operating activities | $ | 27,968 |  | $ | (5,567 | ) | $ | — |  | $ | 22,401 |
Investing activities: |  |  |  |
Purchase of property, plant and equipment | (1,723 | ) | (7,494 | ) | (147 | ) | (9,364 | )
Nordural expansion — Helguvik | — |  | (1,745 | ) | — |  | (1,745 | )
Purchase of carbon anode assets and improvements | — |  | (150 | ) | — |  | (150 | )
Proceeds from sale of property, plant and equipment | — |  | 353 |  | — |  | 353 |
Net cash used in investing activities | (1,723 | ) | (9,036 | ) | (147 | ) | (10,906 | )
Financing activities: |  |  |  |
Intercompany transactions | (26,245 | ) | 26,247 |  | (2 | ) | — |
Net cash provided by (used in) financing activities | (26,245 | ) | 26,247 |  | (2 | ) | — |
Change in cash and cash equivalents | — |  | 11,644 |  | (149 | ) | 11,495 |
Cash and cash equivalents, beginning of the period | — |  | 110,016 |  | 73,960 |  | 183,976 |
Cash and cash equivalents, end of the period | $ | — |  | $ | 121,660 |  | $ | 73,811 |  | $ | 195,471 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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