Business acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

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

Schedule of purchase price allocation

The following purchase price allocation is preliminary and subject to change based on the finalization of the valuation of acquired assets and liabilities.



	Preliminary estimate of the acquisition date fair value as of December 1, 2014		Measurement period adjustments			Adjusted preliminary estimate of the acquisition date fair value as of December 1, 2014
Assets Acquired:
Inventories	$	26,105	$	(2,126	)	$	23,979
Due from Alumax	20,786		(9,517		)	11,269
Prepaid and other current assets	2,527		—			2,527
Intangible asset	2,580		—			2,580
Pension asset	30,842		—			30,842
Property, plant and equipment – net	127,089		15,748			142,837
Total assets acquired	$	209,929	$	4,105		$	214,034
Liabilities Assumed:
Accounts payable, trade	$	41,471	$	—		$	41,471
Accrued and other current liabilities	8,335		255			8,590
Accrued pension benefit costs	—		34,595			34,595
Accrued postretirement benefit costs	2,857		—			2,857
Asset retirement obligations	8,213		—			8,213
Deferred taxes	4,804		(2,118		)	2,686
Total liabilities assumed	$	65,680	$	32,732		$	98,412
Goodwill	$	4,804	$	(4,804	)	$	—

Acquisitions, pro forma information

The following unaudited pro forma financial information for the three and nine months ended September 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 September 30,		Nine months ended September 30,
	2014		2014
Pro forma revenues	$	573,230	$	1,575,842
Pro forma earnings from continuing operations	58,050		53,824
Pro forma earnings per common share, basic	0.60		0.56
Pro forma earnings per common share, diluted	0.60		0.55