XML 141 R105.htm IDEA: XBRL DOCUMENT v2.4.1.9
Earnings per share (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Earnings Per Share [Abstract]                      
Net income (loss) $ 61,849us-gaap_NetIncomeLoss [1] $ 50,405us-gaap_NetIncomeLoss [2] $ 20,344us-gaap_NetIncomeLoss [3] $ (20,104)us-gaap_NetIncomeLoss [4] $ (9,675)us-gaap_NetIncomeLoss [5] $ (9,507)us-gaap_NetIncomeLoss [6] $ (29,384)us-gaap_NetIncomeLoss [7] $ 8,253us-gaap_NetIncomeLoss [8] $ 112,494us-gaap_NetIncomeLoss $ (40,313)us-gaap_NetIncomeLoss $ (35,610)us-gaap_NetIncomeLoss
Amount allocated to common shareholders (in hundredths)                 91.81%cenx_NetIncomePercentageAllocatedToCommonShareholders 100.00%cenx_NetIncomePercentageAllocatedToCommonShareholders [9] 100.00%cenx_NetIncomePercentageAllocatedToCommonShareholders [9]
Basic EPS:                      
Net income (loss) allocated to common stockholders 56,824us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [1] 46,277us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [2] 18,675us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [3] (20,104)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [4] (9,675)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [5] (9,507)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [6] (29,384)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [7] 7,567us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic [8] 103,283us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic    
Weighted Average Number of Shares Outstanding, in Shares (000)                 88,823us-gaap_WeightedAverageNumberOfSharesOutstandingBasic    
Earnings Per Share, Basic (in dollars per share) $ 0.64us-gaap_EarningsPerShareBasic [1] $ 0.52us-gaap_EarningsPerShareBasic [2] $ 0.21us-gaap_EarningsPerShareBasic [3] $ (0.23)us-gaap_EarningsPerShareBasic [4] $ (0.11)us-gaap_EarningsPerShareBasic [5] $ (0.11)us-gaap_EarningsPerShareBasic [6] $ (0.33)us-gaap_EarningsPerShareBasic [7] $ 0.09us-gaap_EarningsPerShareBasic [8] $ 1.16us-gaap_EarningsPerShareBasic $ (0.45)us-gaap_EarningsPerShareBasic $ (0.40)us-gaap_EarningsPerShareBasic
Basic and Diluted EPS:                      
Net income (loss) allocated to common stockholders                   (40,313)cenx_NetIncomeLossAvailabletoCommonStockholdersBasicandDiluted (35,610)cenx_NetIncomeLossAvailabletoCommonStockholdersBasicandDiluted
Weighted Average Number of Shares Outstanding, in Shares (000)                   88,612us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 88,534us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
Earnings Per Share, Basic and Diluted (in dollars per share)                   $ (0.45)us-gaap_EarningsPerShareBasicAndDiluted $ (0.40)us-gaap_EarningsPerShareBasicAndDiluted
Effect of Dilutive Securities:                      
Share-based stock awards - in Shares (000)                 605us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements    
Diluted EPS:                      
Net income (loss) allocated to common stockholders with assumed conversion                 $ 103,283us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted    
Income (loss) applicable to common shareholders with assumed conversion - in Shares (000)                 89,428us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding    
Earnings Per Share, Diluted (in dollars per share) $ 0.63us-gaap_EarningsPerShareDiluted [1] $ 0.52us-gaap_EarningsPerShareDiluted [2] $ 0.21us-gaap_EarningsPerShareDiluted [3] $ (0.23)us-gaap_EarningsPerShareDiluted [4] $ (0.11)us-gaap_EarningsPerShareDiluted [5] $ (0.11)us-gaap_EarningsPerShareDiluted [6] $ (0.33)us-gaap_EarningsPerShareDiluted [7] $ 0.09us-gaap_EarningsPerShareDiluted [8] $ 1.15us-gaap_EarningsPerShareDiluted $ (0.45)us-gaap_EarningsPerShareDiluted $ (0.40)us-gaap_EarningsPerShareDiluted
[1] The fourth quarter of 2014 net income included a benefit of $7,943 for the gain on remeasurement of contingent consideration and a benefit of $1,318 for gain on remeasurement of our equity investment in Mt. Holly. Results were negatively impacted by $4,964 in non-cash, non-recurring pension charges and by $2,616 related to the separation of former senior executives.
[2] The third quarter of 2014 net income reflects higher aluminum prices and lower power prices in the Midwestern U.S.
[3] The second quarter of 2014 net income reflects higher aluminum prices and lower power prices in the Midwestern U.S. Results were negatively impacted by a charge of $500 for the finalization of a legal settlement.
[4] The first quarter of 2014 cost of sales included a benefit of $5,534 related to deferred power contract liability amortization. Results were negatively impacted by a $3,100 charge for increased legal reserves.
[5] The fourth quarter of 2013 cost of sales included a benefit of $16,570 related to deferred power contract liability amortization. During the quarter, inventory that had previously been written down to its market basis was consumed into cost of goods sold and inventory at the end of the quarter was written down to its market basis. The net impact of these valuation adjustments on costs of goods sold was a credit of $9,040. The financial results also include an $8,400 charge relating to the separation of our former CEO.
[6] The third quarter of 2013 cost of sales included an $11,720 benefit for deferred power contract liability amortization. During the quarter, inventory that had previously been written down to its market basis was consumed into cost of goods sold and inventory at the end of the quarter was written down to its market basis. The net impact of these valuation adjustments on costs of goods sold was a credit of $5,762.
[7] 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. During the quarter, inventory that had previously been written down to its market basis was consumed into cost of goods sold and inventory at the end of the quarter was written down to its market basis. The net impact of these valuation adjustments on costs of goods sold was a charge of $10,211.
[8] 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. The net effect of reporting inventory on a lower of cost or market basis was a charge to cost of goods sold of $5,838 in the quarter.
[9] We have not allocated net losses between common and preferred stockholders, as the holders of our preferred shares do not have a contractual obligation to share in the loss.