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Business acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2015
Business Combinations [Abstract] |
Schedule of purchase price allocation | The amounts presented below represent our estimates of the fair value based on a preliminary valuation of the assets and liabilities in connection with the acquisition.
| Preliminary estimate of the acquisition date fair value as of December 1, 2014
Assets Acquired: |
Inventories | $ | 26,105 |
Due from Alumax | 20,786 |
Prepaid and other current assets | 2,527 |
Intangible asset | 2,580 |
Pension asset | 30,842 |
Property, plant and equipment – net | 127,089 |
Total assets acquired | $ | 209,929 |
Liabilities Assumed: |
Accounts payable, trade | $ | 41,471 |
Accrued and other current liabilities | 6,045 |
Accrued postretirement benefit costs | 2,857 |
Asset retirement obligations | 10,503 |
Deferred taxes | 4,804 |
Total liabilities assumed | $ | 65,680 |
Goodwill | $ | 4,804 |
The following table summarizes all of the elements of consideration for the transaction, including the preliminary estimated fair value of contingent consideration.
| Preliminary as of December 1, 2014
Purchase price | $ | 67,500 |
Contingent consideration | 13,780 |
Economic, working capital and other closing adjustments | (13,513 | )
Total consideration transferred | $ | 67,767 |
Acquisitions, pro forma information | The following unaudited pro forma financial information for the three and six months ended June 30, 2014 reflects our results of continuing operations as if the acquisition of the remaining interest in Mt. Holly had been completed on January 1, 2014. This unaudited pro forma financial information is provided for informational purposes only and is not necessarily indicative of what the actual results of operations would have been had the transactions taken place on January 1, 2014, nor is it indicative of the future consolidated results of operations or financial position of the combined companies.
| Three months ended June 30, | Six months ended June 30,
| 2014 | 2014
Pro forma revenues | $ | 528,457 |  | $ | 1,002,612 |
Pro forma earnings (loss) from continuing operations | 20,640 |  | (3,577 | )
Pro forma earnings (loss) per common share, basic | 0.21 |  | (0.04 | )
Pro forma earnings (loss) per common share, diluted | 0.21 |  | (0.04 | )
Schedule of separately recognized transactions |
Amounts Recognized Separately from the Acquisition: | Line item | Amount recognized
Alumina Supply Agreements | Inventory | $ | 14,880 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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