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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (16,230) $ 50,645
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Unrealized gain on fair value of contingent consideration (18,337) 0
Unrealized gain on E.ON contingent obligation (1,059) (1,059)
Accrued and other plant curtailment costs — net 2,149 3,267
Lower of cost or market inventory adjustment 31,013 (1,247)
Depreciation 55,815 52,784
Ravenswood impairment 30,850 0
Sebree power contract amortization 0 (5,534)
Debt discount amortization 289 268
Pension and other postretirement benefits (298) 1,432
Deferred income taxes 1,215 6,502
Stock-based compensation 1,381 957
Equity in earnings of joint ventures, net of dividends (2,069) (661)
Change in operating assets and liabilities:    
Accounts receivable — net 69,055 5,608
Due from affiliates 2,406 (8,866)
Inventories (46,392) (889)
Prepaid and other current assets 3,435 3,035
Accounts payable, trade (43,485) (8,885)
Due to affiliates 11,395 11,336
Accrued and other current liabilities (8,418) (7,566)
Pension contribution - Mt. Holly (34,595) 0
Other — net (5,611) (3,413)
Net cash provided by operating activities 32,509 97,714
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (38,075) (26,865)
Nordural expansion — Helguvik (230) (277)
Purchase of carbon anode assets and improvements (9,304) (12,280)
Purchase of Sebree smelter 0 (1,042)
Purchase of remaining interest in Mt. Holly smelter 11,313 0
Proceeds from sale of property, plant and equipment 14 46
Restricted and other cash deposits (141) 480
Net cash used in investing activities (36,423) (39,938)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of debt 0 (2,603)
Borrowings under revolving credit facilities 1,414 91,731
Repayments under revolving credit facilities (1,414) (97,731)
Repurchase of common stock (36,352) 0
Issuance of common stock 0 149
Net cash used in financing activities (36,352) (8,454)
CHANGE IN CASH AND CASH EQUIVALENTS (40,266) 49,322
Cash and cash equivalents, beginning of period 163,242 84,088
Cash and cash equivalents, end of period $ 122,976 $ 133,410