Condensed consolidating financial information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statements of Comprehensive Income (Loss)



	Condensed Consolidating Statements of Comprehensive Income (Loss)
	For the year ended December 31, 2015
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	1,277,474		$	632,597		$	(42,360	)	$	1,867,711
Third-party customers	—			82,327			43			(224		)	82,146
	—			1,359,801			632,640			(42,584		)	1,949,857
Cost of goods sold	—			1,388,400			564,380			(44,236		)	1,908,544
Gross profit (loss)	—			(28,599		)	68,260			1,652			41,313
Selling, general and administrative expenses	28,000			8,798			5,317			—			42,115
Ravenswood impairment	—			—			30,850			—			30,850
Other operating expense - net	—			—			7,436			—			7,436
Operating income (loss)	(28,000		)	(37,397		)	24,657			1,652			(39,088		)
Interest expense - third parties	(20,201		)	(1,567		)	(186		)	—			(21,954		)
Interest income (expense) - affiliates	37,626			—			(37,626		)	—			—
Interest income - third parties	65			4			270			—			339
Net gain on forward and derivative contracts	—			1,411			189			—			1,600
Unrealized gain on fair value of contingent consideration	—			18,337			—			—			18,337
Other income (expense) - net	1,356			(658		)	2,356			(3,410		)	(356		)
Loss before income taxes and equity in earnings (loss) of joint ventures	(9,154		)	(19,870		)	(10,340		)	(1,758		)	(41,122		)
Income tax benefit (expense)	2,140			—			(11,416		)	—			(9,276		)
Loss before equity in earnings (loss) of joint ventures	(7,014		)	(19,870		)	(21,756		)	(1,758		)	(50,398		)
BHH impairment	—			—			(11,584		)	—			(11,584		)
Equity in earnings (loss) of joint ventures	(52,296		)	—			2,672			52,296			2,672
Net loss	$	(59,310	)	$	(19,870	)	$	(30,668	)	$	50,538		$	(59,310	)
Other comprehensive income (loss) before income tax effect	6,568			14,754			(1,114		)	(13,640		)	6,568
Income tax effect	(1,536		)	—			33			(33		)	(1,536		)
Other comprehensive income (loss)	5,032			14,754			(1,081		)	(13,673		)	5,032
Total comprehensive loss	$	(54,278	)	$	(5,116	)	$	(31,749	)	$	36,865		$	(54,278	)



	Condensed Consolidating Statements of Comprehensive Income (Loss)
	For the year ended December 31, 2014
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	715,796		$	625,076		$	(78,771	)	$	1,262,101
Third-party customers	—			669,466			31			(556		)	668,941
	—			1,385,262			625,107			(79,327		)	1,931,042
Cost of goods sold	—			1,282,194			522,543			(75,494		)	1,729,243
Gross profit	—			103,068			102,564			(3,833		)	201,799
Selling, general and administrative expenses	32,840			11,353			5,002			—			49,195
Other operating expense - net	—			—			12,481			—			12,481
Operating income (loss)	(32,840		)	91,715			85,081			(3,833		)	140,123
Interest expense - third parties	(20,228		)	(1,555		)	(232		)	—			(22,015		)
Interest income (expense) - affiliates	43,688			—			(43,688		)	—			—
Interest income - third parties	15			—			286			—			301
Net gain (loss) on forward and derivative contracts	(1,080		)	1,259			—			—			179
Unrealized gain on fair value of contingent consideration	—			7,943			—			—			7,943
Gain on remeasurement of equity investment	—			15,955			—			—			15,955
Other income (expense) - net	518			(459		)	4,564			(3,632		)	991
Income (loss) before income taxes and equity in earnings of joint ventures	(9,927		)	114,858			46,011			(7,465		)	143,477
Income tax expense	(4,777		)	(493		)	(13,211		)	173			(18,308		)
Income (loss) before equity in earnings of joint ventures	(14,704		)	114,365			32,800			(7,292		)	125,169
Equity in earnings of joint ventures	141,178			—			1,305			(141,178		)	1,305
Net income	$	126,474		$	114,365		$	34,105		$	(148,470	)	$	126,474
Other comprehensive loss before income tax effect	(24,022		)	(28,955		)	(2,662		)	18,967			(36,672		)
Income tax effect	(1,829		)	—			33			(33		)	(1,829		)
Other comprehensive loss	(25,851		)	(28,955		)	(2,629		)	18,934			(38,501		)
Total comprehensive income	$	100,623		$	85,410		$	31,476		$	(129,536	)	$	87,973



	Condensed Consolidating Statements of Comprehensive Income (Loss)
	For the year ended December 31, 2013
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	270,314		$	244,680		$	(3,943	)	$	511,051
Third-party customers	—			752,808			191,495			(1,041		)	943,262
	—			1,023,122			436,175			(4,984		)	1,454,313
Cost of goods sold	—			1,061,597			358,124			(4,931		)	1,414,790
Gross profit (loss)	—			(38,475		)	78,051			(53		)	39,523
Selling, general and administrative expenses	40,831			10,456			16,190			—			67,477
Other operating expense - net	—			—			8,602			—			8,602
Operating income (loss)	(40,831		)	(48,931		)	53,259			(53		)	(36,556		)
Interest expense - third parties	(21,543		)	(1,510		)	(38		)	—			(23,091		)
Interest income (expense) - affiliates	48,126			—			(48,126		)	—			—
Interest income - third parties	27			6			695			—			728
Net gain on forward and derivative contracts	140			16,458			—			—			16,598
Gain on bargain purchase	—			5,253			—			—			5,253
Loss on early extinguishment of debt	(3,272		)	—			—			—			(3,272		)
Other income (expense) - net	138,548			(113		)	94			(138,033		)	496
Income (loss) before income taxes and equity in earnings (loss) of joint ventures	121,195			(28,837		)	5,884			(138,086		)	(39,844		)
Income tax benefit (expense)	(3,386		)	—			255			—			(3,131		)
Income (loss) before equity in earnings (loss) of joint ventures	117,809			(28,837		)	6,139			(138,086		)	(42,975		)
Equity in earnings (loss) of joint ventures	(158,122		)	—			2,662			158,122			2,662
Net income (loss)	$	(40,313	)	$	(28,837	)	$	8,801		$	20,036		$	(40,313	)
Other comprehensive income before income tax effect	60,924			31,258			22,634			(53,892		)	60,924
Income tax effect	(1,564		)	—			33			(33		)	(1,564		)
Other comprehensive income	59,360			31,258			22,667			(53,925		)	59,360
Total comprehensive income	$	19,047		$	2,421		$	31,468		$	(33,889	)	$	19,047

Condensed Consolidating Balance Sheet



	Condensed Consolidating Balance Sheet
	As of December 31, 2015
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	58,421		$	(3,647	)	$	60,619		$	—		$	115,393
Restricted cash	—			791			—			—			791
Accounts receivable - net	104			8,891			480			—			9,475
Due from affiliates	13			14,493			2,911			—			17,417
Inventories	180			148,280			85,937			(2,525		)	231,872
Prepaid and other current assets	7,713			16,242			18,457			—			42,412
Assets held for sale	—			—			30,697			—			30,697
Total current assets	66,431			185,050			199,101			(2,525		)	448,057
Property, plant and equipment - net	9,188			361,626			861,442			—			1,232,256
Investment in subsidiaries	593,604			—			—			(593,604		)	—
Due from affiliates - less current portion	632,170			—			—			(632,170		)	—
Other assets	29,536			19,153			16,047			7,419			72,155
TOTAL	$	1,330,929		$	565,829		$	1,076,590		$	(1,220,880	)	$	1,752,468

Accounts payable, trade	$	2,380		$	53,145		$	34,964		$	—		$	90,489
Due to affiliates	2,143			7,167			735			—			10,045
Accrued and other current liabilities	11,247			14,759			22,816			—			48,822
Accrued employee benefits costs	1,824			7,644			680			—			10,148
Industrial revenue bonds	—			7,815			—			—			7,815
Total current liabilities	17,594			90,530			59,195			—			167,319
Senior notes payable	247,278			—			—			—			247,278
Accrued pension benefits costs cost - less current portion	39,831			(11,021		)	15,189			—			43,999
Accrued postretirement benefits costs - less current portion	4,524			119,911			1,564			—			125,999
Other liabilities	3,307			30,505			11,779			7,418			53,009
Intercompany loan	—			124,518			509,652			(634,170		)	—
Deferred taxes	—			—			96,994			—			96,994
Total noncurrent liabilities	294,940			263,913			635,178			(626,752		)	567,279
Series A Preferred stock	1			—			—			—			1
Common stock	942			—			224,424			(224,424		)	942
Additional paid-in capital	2,513,631			191,023			2,038,138			(2,229,161		)	2,513,631
Treasury stock, at cost	(86,276		)	—			—			—			(86,276		)
Accumulated other comprehensive loss	(13,125		)	(60,026		)	(39,499		)	—			(112,650		)
Accumulated deficit	(1,396,778		)	80,389			(1,840,846		)	1,859,457			(1,297,778		)
Total shareholder's equity	1,018,395			211,386			382,217			(594,128		)	1,017,870
TOTAL	$	1,330,929		$	565,829		$	1,076,590		$	(1,220,880	)	$	1,752,468



	Condensed Consolidating Balance Sheet
	As of December 31, 2014
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	70,683		$	(1,187	)	$	93,746		$	—		$	163,242
Restricted cash	—			787			14			—			801
Accounts receivable - net	—			77,173			494			—			77,667
Due from affiliates	9			30,126			1,368			—			31,503
Inventories	180			192,803			80,194			10,303			283,480
Prepaid and other current assets	4,311			10,199			13,393			1,865			29,768
Deferred taxes	—			14,281			—			—			14,281
Total current assets	75,183			324,182			189,209			12,168			600,742
Property, plant and equipment - net	1,788			380,234			923,961			(440		)	1,305,543
Investment in subsidiaries	589,532			—			—			(589,532		)	—
Due from affiliates - less current portion	719,258			—			—			(719,258		)	—
Other assets	31,233			33,422			48,553			5,565			118,773
TOTAL	$	1,416,994		$	737,838		$	1,161,723		$	(1,291,497	)	$	2,025,058

Accounts payable, trade	$	2,252		$	109,376		$	38,124		$	1,691		$	151,443
Due to affiliates	—			18,730			3,531			—			22,261
Accrued and other current liabilities	13,048			64,104			22,817			3,838			103,807
Accrued employee benefits costs	1,823			7,805			531			—			10,159
Industrial revenue bonds	—			7,815			—			—			7,815
Total current liabilities	17,123			207,830			65,003			5,529			295,485
Senior notes payable	246,888			—			—			—			246,888
Accrued pension benefits costs cost - less current portion	32,136			13,942			13,828			—			59,906
Accrued postretirement benefits costs - less current portion	5,821			145,267			1,806			—			152,894
Other liabilities	3,630			32,035			11,963			5,644			53,272
Intercompany loan	—			164,610			542,259			(706,869		)	—
Deferred taxes	—			—			111,486			—			111,486
Total noncurrent liabilities	288,475			355,854			681,342			(701,225		)	624,446
Series A Preferred stock	1			—			—			—			1
Common stock	939			—			215,424			(215,424		)	939
Additional paid-in capital	2,510,261			150,861			2,136,138			(2,286,999		)	2,510,261
Treasury stock, at cost	(49,924		)	—			—			—			(49,924		)
Accumulated other comprehensive loss	(4,484		)	(74,780		)	(38,418		)	—			(117,682		)
Accumulated deficit	(1,345,397		)	98,073			(1,897,766		)	1,906,622			(1,238,468		)
Total shareholder's equity	1,111,396			174,154			415,378			(595,801		)	1,105,127
TOTAL	$	1,416,994		$	737,838		$	1,161,723		$	(1,291,497	)	$	2,025,058

Condensed Consolidating Statement of Cash Flows



	Condensed Consolidating Statement of Cash Flows
	For the year ended December 31, 2015
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by operating activities	$	25,423		$	30,890		$	65,085		$	(89,532	)	$	31,866
Purchase of property, plant and equipment	(8,574		)	(21,477		)	(24,209		)	(440		)	(54,700		)
Purchase of remaining interest in Mt. Holly smelter	11,313			—			—			—			11,313
Proceeds from sale of property, plant and equipment	—			14			—			—			14
Restricted and other cash deposits	—			(4		)	14			—			10
Intercompany transactions	(4,072		)	—			—			4,072			—
Net cash used in investing activities	(1,333		)	(21,467		)	(24,195		)	3,632			(43,363		)
Borrowings under revolving credit facilities	1,737			—			—			—			1,737
Repayments under revolving credit facilities	(1,737		)	—			—			—			(1,737		)
Repurchase of common stock	(36,352		)	—			—			—			(36,352		)
Intercompany transactions	—			(11,883		)	(74,017		)	85,900			—
Net cash used in financing activities	(36,352		)	(11,883		)	(74,017		)	85,900			(36,352		)
CHANGE IN CASH AND CASH EQUIVALENTS	(12,262		)	(2,460		)	(33,127		)	—			(47,849		)
Cash and cash equivalents, beginning of year	70,683			(1,187		)	93,746			—			163,242
Cash and cash equivalents, end of year	$	58,421		$	(3,647	)	$	60,619		$	—		$	115,393



	Condensed Consolidating Statement of Cash Flows
	For the year ended December 31, 2014
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by operating activities	$	92,338		$	40,711		$	139,896		$	(65,265	)	$	207,680
Purchase of property, plant and equipment	(587		)	(22,939		)	(31,603		)	3			(55,126		)
Purchase of Sebree smelter	(1,042		)	—			—			—			(1,042		)
Purchase of remaining interest in Mt. Holly smelter	(65,100		)	—			—			—			(65,100		)
Proceeds from sale of property, plant and equipment	—			—			46			—			46
Restricted and other cash deposits	—			—			896			—			896
Net cash used in investing activities	(66,729		)	(22,939		)	(30,661		)	3			(120,326		)
Repayment of debt	(2,603		)	—			—			—			(2,603		)
Borrowings under revolving credit facilities	92,423			—			—			—			92,423
Repayments under revolving credit facilities	(92,423		)	—			(6,000		)	—			(98,423		)
Issuance of common stock	403			—			—			—			403
Intercompany transactions	—			(17,801		)	(47,461		)	65,262			—
Net cash used in financing activities	(2,200		)	(17,801		)	(53,461		)	65,262			(8,200		)
CHANGE IN CASH AND CASH EQUIVALENTS	23,409			(29		)	55,774			—			79,154
Cash and cash equivalents, beginning of year	47,274			(1,158		)	37,972			—			84,088
Cash and cash equivalents, end of year	$	70,683		$	(1,187	)	$	93,746		$	—		$	163,242



	Condensed Consolidating Statement of Cash Flows
	For the year ended December 31, 2013
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by (used in) operating activities	$	30,462		$	(70,217	)	$	82,776		$	(23,303	)	$	19,718
Purchase of property, plant and equipment	(1,229		)	(17,199		)	(49,649		)	—			(68,077		)
Purchase of Sebree smelter	(48,058		)	—			—			—			(48,058		)
Investments and advances to joint ventures	(125		)	—			—			—			(125		)
Proceeds from sale of property, plant and equipment	—			14			511			—			525
Restricted and other cash deposits	—			(787		)	(652		)	—			(1,439		)
Net cash used in investing activities	(49,412		)	(17,972		)	(49,790		)	—			(117,174		)
Repayment of debt	(249,604		)	—			—			—			(249,604		)
Proceeds from issuance of debt	246,330			—			—			—			246,330
Borrowings under revolving credit facilities	16,725			—			6,000			—			22,725
Repayments under revolving credit facilities	(16,725		)	—			—			—			(16,725		)
Debt issuance costs	(3,994		)	—			—			—			(3,994		)
Debt retirement costs	(1,208		)	—			—			—			(1,208		)
Issuance of common stock	44			—			—			—			44
Intercompany transactions	—			87,718			(111,021		)	23,303			—
Net cash provided by (used in) financing activities	(8,432		)	87,718			(105,021		)	23,303			(2,432		)
CHANGE IN CASH AND CASH EQUIVALENTS	(27,382		)	(471		)	(72,035		)	—			(99,888		)
Cash and cash equivalents, beginning of year	74,656			(687		)	110,007			—			183,976
Cash and cash equivalents, end of year	$	47,274		$	(1,158	)	$	37,972		$	—		$	84,088