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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 39,882 $ 240
Adjustments to reconcile net income to net cash provided by operating activities:    
Unrealized gain on fair value of contingent consideration (16,814) 0
Unrealized gain on E.ON contingent obligation (706) (706)
Accrued and other plant curtailment costs — net 2,149 2,181
Lower of cost or market inventory adjustment 25,689 (1,247)
Depreciation 36,409 35,143
Ravenswood impairment 30,850 0
Sebree power contract amortization 0 (5,534)
Debt discount amortization 191 177
Pension and other postretirement benefits (262) 2,368
Deferred income taxes 4,984 2,731
Stock-based compensation 894 533
Equity in earnings of joint ventures, net of dividends (1,365) (376)
Change in operating assets and liabilities:    
Accounts receivable — net 66,359 3,931
Due from affiliates (20,807) (10,508)
Inventories (60,631) (2,786)
Prepaid and other current assets 3,819 6,816
Accounts payable, trade (34,087) (8,413)
Due to affiliates 41,406 (1,226)
Accrued and other current liabilities 1,288 (12,200)
Other — net (8,932) (2,496)
Net cash provided by operating activities 110,316 8,628
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (26,587) (16,758)
Nordural expansion — Helguvik (175) (186)
Purchase of carbon anode assets and improvements (4,606) (7,226)
Purchase of remaining interest in Mt. Holly smelter (38,162) 0
Proceeds from sale of property, plant and equipment 14 46
Restricted and other cash deposits (282) (1,334)
Net cash used in investing activities (69,798) (25,458)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 1,010 86,646
Repayments under revolving credit facilities (1,010) (92,646)
Repurchase of common stock (36,352) 0
Issuance of common stock 0 126
Net cash used in financing activities (36,352) (5,874)
CHANGE IN CASH AND CASH EQUIVALENTS 4,166 (22,704)
Cash and cash equivalents, beginning of period 163,242 84,088
Cash and cash equivalents, end of period $ 167,408 $ 61,384