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Condensed consolidating financial information | 3 Months Ended
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Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed consolidating financial information | Condensed consolidating financial information Our 2021 Notes are guaranteed by each of our material existing and future domestic subsidiaries, except for Nordural US LLC and Century Aluminum Development LLC. The Guarantor Subsidiaries are 100% owned by Century. All guarantees are full and unconditional; all guarantees are joint and several. These notes are not guaranteed by our foreign subsidiaries (such foreign subsidiaries, Nordural US LLC and Century Aluminum Development LLC, collectively the “Non-Guarantor Subsidiaries”). We allocate corporate expenses or income to our subsidiaries and charge interest on certain intercompany balances. The following summarized condensed consolidating statements of comprehensive income (loss) for the three months ended March 31, 2016 and 2015, condensed consolidating balance sheets as of March 31, 2016 and December 31, 2015 and the condensed consolidating statements of cash flows for the three months ended March 31, 2016 and 2015 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts. Although Century Aluminum West Virginia (which owns our curtailed Ravenswood smelter) has guaranteed our Notes due 2021, because we are in the process of selling substantially all of its assets, we have included its assets and results of operations in the columns under the caption Non-Guarantor Subsidiaries.
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |  |
Related parties |  | $ | — |  |  | $ | 162,120 |  |  | $ | 141,654 |  |  | $ | (23,397 | ) |  | $ | 280,377 |
Third-party customers |  | — |  |  | 38,468 |  |  | 9 |  |  | — |  |  | 38,477 |
Total net sales |  | — |  |  | 200,588 |  |  | 141,663 |  |  | (23,397 | ) |  | 318,854 |
Cost of goods sold |  | — |  |  | 209,573 |  |  | 136,304 |  |  | (23,971 | ) |  | 321,906 |
Gross profit (loss) |  | — |  |  | (8,985 | ) |  | 5,359 |  |  | 574 |  |  | (3,052 | )
Selling, general and administrative expenses |  | 8,299 |  |  | — |  |  | 1,326 |  |  | — |  |  | 9,625 |
Other operating expense - net |  | — |  |  | — |  |  | 881 |  |  | — |  |  | 881 |
Operating income (loss) |  | (8,299 | ) |  | (8,985 | ) |  | 3,152 |  |  | 574 |  |  | (13,558 | )
Interest expense - third parties |  | (5,065 | ) |  | (382 | ) |  | (46 | ) |  | — |  |  | (5,493 | )
Interest income (expense) - affiliates |  | 9,548 |  |  | — |  |  | (9,548 | ) |  | — |  |  | — |
Interest income - third parties |  | 37 |  |  | — |  |  | 77 |  |  | — |  |  | 114 |
Net gain on forward and derivative contracts |  | — |  |  | 353 |  |  | — |  |  | — |  |  | 353 |
Other income (expense) - net |  | 771 |  |  | (6 | ) |  | (771 | ) |  | — |  |  | (6 | )
Loss before income taxes and equity in earnings (loss) of joint ventures |  | (3,008 | ) |  | (9,020 | ) |  | (7,136 | ) |  | 574 |  |  | (18,590 | )
Income tax benefit |  | 620 |  |  | — |  |  | 1,450 |  |  | — |  |  | 2,070 |
Loss before income taxes and equity in earnings (loss) of joint ventures |  | (2,388 | ) |  | (9,020 | ) |  | (5,686 | ) |  | 574 |  |  | (16,520 | )
Equity in earnings (loss) of joint ventures |  | (13,775 | ) |  | — |  |  | 357 |  |  | 13,775 |  |  | 357 |
Net loss |  | $ | (16,163 | ) |  | $ | (9,020 | ) |  | $ | (5,329 | ) |  | $ | 14,349 |  |  | $ | (16,163 | )
Other comprehensive income before income tax effect |  | 1,206 |  |  | 778 |  |  | 303 |  |  | (1,081 | ) |  | 1,206 |
Income tax effect |  | (383 | ) |  | — |  |  | 8 |  |  | (8 | ) |  | (383 | )
Other comprehensive income (loss) |  | 823 |  |  | 778 |  |  | 311 |  |  | (1,089 | ) |  | 823 |
Total comprehensive loss |  | $ | (15,340 | ) |  | $ | (8,242 | ) |  | $ | (5,018 | ) |  | $ | 13,260 |  |  | $ | (15,340 | )
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended March 31, 2015
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |  |
Related parties |  | $ | — |  |  | $ | 403,064 |  |  | $ | 173,779 |  |  | $ | (1,114 | ) |  | $ | 575,729 |
Third-party customers |  | — |  |  | 12,874 |  |  | 6 |  |  | (698 | ) |  | 12,182 |
Total net sales |  | — |  |  | 415,938 |  |  | 173,785 |  |  | (1,812 | ) |  | 587,911 |
Cost of goods sold |  | — |  |  | 362,302 |  |  | 136,028 |  |  | (4,514 | ) |  | 493,816 |
Gross profit |  | — |  |  | 53,636 |  |  | 37,757 |  |  | 2,702 |  |  | 94,095 |
Selling, general and administrative expenses |  | 10,837 |  |  | (944 | ) |  | 1,078 |  |  | 1,000 |  |  | 11,971 |
Other operating expense - net |  | — |  |  | — |  |  | 2,079 |  |  | — |  |  | 2,079 |
Operating income (loss) |  | (10,837 | ) |  | 54,580 |  |  | 34,600 |  |  | 1,702 |  |  | 80,045 |
Interest expense - third parties |  | (5,109 | ) |  | (396 | ) |  | (46 | ) |  | — |  |  | (5,551 | )
Interest income (expense) - affiliates |  | 10,226 |  |  | — |  |  | (10,226 | ) |  | — |  |  | — |
Interest income - third parties |  | 15 |  |  | 4 |  |  | 123 |  |  | — |  |  | 142 |
Net gain on forward and derivative contracts |  | — |  |  | 353 |  |  | — |  |  | — |  |  | 353 |
Unrealized gain on fair value of contingent consideration |  | — |  |  | 6,527 |  |  | — |  |  | — |  |  | 6,527 |
Other income (expense) - net |  | 537 |  |  | (484 | ) |  | 2,731 |  |  | (1,730 | ) |  | 1,054 |
Income (loss) before income taxes and equity in earnings of joint ventures |  | (5,168 | ) |  | 60,584 |  |  | 27,182 |  |  | (28 | ) |  | 82,570 |
Income tax expense |  | (299 | ) |  | — |  |  | (9,052 | ) |  | 50 |  |  | (9,301 | )
Income (loss) before equity in earnings of joint ventures |  | (5,467 | ) |  | 60,584 |  |  | 18,130 |  |  | 22 |  |  | 73,269 |
Equity in earnings of joint ventures |  | 79,246 |  |  | — |  |  | 510 |  |  | (79,246 | ) |  | 510 |
Net income |  | $ | 73,779 |  |  | $ | 60,584 |  |  | $ | 18,640 |  |  | $ | (79,224 | ) |  | $ | 73,779 |
Other comprehensive income before income tax effect |  | 461 |  |  | 33 |  |  | 245 |  |  | (278 | ) |  | 461 |
Income tax effect |  | (383 | ) |  | — |  |  | 8 |  |  | (8 | ) |  | (383 | )
Other comprehensive income (loss) |  | 78 |  |  | 33 |  |  | 253 |  |  | (286 | ) |  | 78 |
Total comprehensive income |  | $ | 73,857 |  |  | $ | 60,617 |  |  | $ | 18,893 |  |  | $ | (79,510 | ) |  | $ | 73,857 |
Condensed Consolidating Balance Sheet
As of March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash & cash equivalents |  | $ | 49,667 |  |  | $ | (74 | ) |  | $ | 76,868 |  |  | $ | — |  |  | $ | 126,461 |
Restricted cash |  | — |  |  | 795 |  |  | — |  |  | — |  |  | 795 |
Accounts receivable - net |  | — |  |  | 12,088 |  |  | 580 |  |  | — |  |  | 12,668 |
Due from affiliates |  | 382 |  |  | 13,955 |  |  | 1,141 |  |  | — |  |  | 15,478 |
Inventories |  | 180 |  |  | 142,070 |  |  | 80,526 |  |  | (2,274 | ) |  | 220,502 |
Prepaid and other current assets |  | 7,073 |  |  | 4,290 |  |  | 18,259 |  |  | — |  |  | 29,622 |
Assets held for sale |  | — |  |  | — |  |  | 29,715 |  |  | — |  |  | 29,715 |
Total current assets |  | 57,302 |  |  | 173,124 |  |  | 207,089 |  |  | (2,274 | ) |  | 435,241 |
Property, plant and equipment - net |  | 8,863 |  |  | 352,384 |  |  | 853,975 |  |  | — |  |  | 1,215,222 |
Investment in subsidiaries |  | 580,999 |  |  | — |  |  | — |  |  | (580,999 | ) |  | — |
Due from affiliates - less current portion |  | 639,780 |  |  | — |  |  | — |  |  | (639,780 | ) |  | — |
Other assets |  | 30,025 |  |  | 19,328 |  |  | 16,371 |  |  | 7,418 |  |  | 73,142 |
TOTAL |  | $ | 1,316,969 |  |  | $ | 544,836 |  |  | $ | 1,077,435 |  |  | $ | (1,215,635 | ) |  | $ | 1,723,605 |
Accounts payable, trade |  | $ | 2,582 |  |  | $ | 47,777 |  |  | $ | 34,228 |  |  | $ | — |  |  | $ | 84,587 |
Due to affiliates |  | 1,500 |  |  | 1,210 |  |  | 547 |  |  | 2,916 |  |  | 6,173 |
Accrued and other current liabilities |  | 14,280 |  |  | 11,073 |  |  | 24,816 |  |  | — |  |  | 50,169 |
Accrued employee benefits costs |  | 1,824 |  |  | 7,550 |  |  | 680 |  |  | — |  |  | 10,054 |
Industrial revenue bonds |  | — |  |  | 7,815 |  |  | — |  |  | — |  |  | 7,815 |
Total current liabilities |  | 20,186 |  |  | 75,425 |  |  | 60,271 |  |  | 2,916 |  |  | 158,798 |
Senior notes payable |  | 247,380 |  |  | — |  |  | — |  |  | — |  |  | 247,380 |
Accrued pension benefits costs cost - less current portion |  | 39,552 |  |  | (11,009 | ) |  | 14,894 |  |  | — |  |  | 43,437 |
Accrued postretirement benefits costs - less current portion |  | 4,834 |  |  | 119,529 |  |  | 1,578 |  |  | — |  |  | 125,941 |
Other liabilities |  | 1,893 |  |  | 30,749 |  |  | 11,739 |  |  | 7,418 |  |  | 51,799 |
Intercompany loan |  | — |  |  | 126,343 |  |  | 518,353 |  |  | (644,696 | ) |  | — |
Deferred taxes |  | — |  |  | — |  |  | 93,399 |  |  | — |  |  | 93,399 |
Total noncurrent liabilities |  | 293,659 |  |  | 265,612 |  |  | 639,963 |  |  | (637,278 | ) |  | 561,956 |
Series A Preferred stock |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Common stock |  | 942 |  |  | — |  |  | 228,424 |  |  | (228,424 | ) |  | 942 |
Additional paid-in capital |  | 2,513,952 |  |  | 191,023 |  |  | 2,182,533 |  |  | (2,373,556 | ) |  | 2,513,952 |
Treasury stock, at cost |  | (86,276 | ) |  | — |  |  | — |  |  | — |  |  | (86,276 | )
Accumulated other comprehensive loss |  | (13,391 | ) |  | (59,249 | ) |  | (39,187 | ) |  | — |  |  | (111,827 | )
Accumulated deficit |  | (1,412,104 | ) |  | 72,025 |  |  | (1,994,569 | ) |  | 2,020,707 |  |  | (1,313,941 | )
Total shareholder's equity |  | 1,003,124 |  |  | 203,799 |  |  | 377,201 |  |  | (581,273 | ) |  | 1,002,851 |
TOTAL |  | $ | 1,316,969 |  |  | $ | 544,836 |  |  | $ | 1,077,435 |  |  | $ | (1,215,635 | ) |  | $ | 1,723,605 |
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 Statement of Cash Flows
For the three months ended March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities |  | $ | (8,754 | ) |  | $ | 5,435 |  |  | $ | 9,956 |  |  | $ | 8,266 |  |  | $ | 14,903 |
Purchase of property, plant and equipment |  | — |  |  | (1,426 | ) |  | (2,409 | ) |  | — |  |  | (3,835 | )
Net cash used in investing activities |  | — |  |  | (1,426 | ) |  | (2,409 | ) |  | — |  |  | (3,835 | )
Borrowings under revolving credit facilities |  | 371 |  |  | — |  |  | — |  |  | — |  |  | 371 |
Repayments under revolving credit facilities |  | (371 | ) |  | — |  |  | — |  |  | — |  |  | (371 | )
Intercompany transactions |  | — |  |  | (436 | ) |  | 8,702 |  |  | (8,266 | ) |  | — |
Net cash provided by (used in) financing activities |  | — |  |  | (436 | ) |  | 8,702 |  |  | (8,266 | ) |  | — |
CHANGE IN CASH AND CASH EQUIVALENTS |  | (8,754 | ) |  | 3,573 |  |  | 16,249 |  |  | — |  |  | 11,068 |
Cash and cash equivalents, beginning of period |  | 58,421 |  |  | (3,647 | ) |  | 60,619 |  |  | — |  |  | 115,393 |
Cash and cash equivalents, end of period |  | $ | 49,667 |  |  | $ | (74 | ) |  | $ | 76,868 |  |  | $ | — |  |  | $ | 126,461 |
Condensed Consolidating Statement of Cash Flows
For the three months ended March 31, 2015
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities |  | $ | 113,179 |  |  | $ | 40,025 |  |  | $ | (222,561 | ) |  | $ | 185,624 |  |  | $ | 116,267 |
Purchase of property, plant and equipment |  | (348 | ) |  | (6,726 | ) |  | (5,553 | ) |  | — |  |  | (12,627 | )
Restricted and other cash deposits |  | — |  |  | (21,012 | ) |  | — |  |  | — |  |  | (21,012 | )
Net cash used in investing activities |  | (348 | ) |  | (27,738 | ) |  | (5,553 | ) |  | — |  |  | (33,639 | )
Borrowings under revolving credit facilities |  | 455 |  |  | — |  |  | — |  |  | — |  |  | 455 |
Repayments under revolving credit facilities |  | (455 | ) |  | — |  |  | — |  |  | — |  |  | (455 | )
Repurchase of common stock |  | (19,439 | ) |  | — |  |  | — |  |  | — |  |  | (19,439 | )
Intercompany transactions |  | — |  |  | (11,164 | ) |  | 196,788 |  |  | (185,624 | ) |  | — |
Net cash provided by (used in) financing activities |  | (19,439 | ) |  | (11,164 | ) |  | 196,788 |  |  | (185,624 | ) |  | (19,439 | )
CHANGE IN CASH AND CASH EQUIVALENTS |  | 93,392 |  |  | 1,123 |  |  | (31,326 | ) |  | — |  |  | 63,189 |
Cash and cash equivalents, beginning of period |  | 70,683 |  |  | (1,187 | ) |  | 93,746 |  |  | — |  |  | 163,242 |
Cash and cash equivalents, end of period |  | $ | 164,075 |  |  | $ | (64 | ) |  | $ | 62,420 |  |  | $ | — |  |  | $ | 226,431 |

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