Condensed consolidating financial information

Our 2021 Notes are guaranteed by each of our material existing and future domestic subsidiaries (The "Guarantor Subsidiaries"), except for Nordural US LLC, Century Aluminum Development LLC and Century Aluminum of West Virginia, Inc. 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, Century Aluminum Development LLC and Century Aluminum of West Virginia, Inc., 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 twelve months ended December 31, 2017, 2016 and 2015, condensed consolidating balance sheets as of December 31, 2017 and December 31, 2016 and the condensed consolidating statements of cash flows for the twelve months ended December 31, 2017, 2016 and 2015 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts.



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the year ended December 31, 2017
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	547,458		$	650,618		$	—		$	1,198,076
Other customers	—			390,875			129			—			391,004
Total net sales	—			938,333			650,747			—			1,589,080
Cost of goods sold	—			888,176			572,299			—			1,460,475
Gross profit	—			50,157			78,448			—			128,605
Selling, general and administrative expenses	27,846			12,905			4,695			—			45,446
Helguvik (gains)	—			—			(7,310		)	—			(7,310		)
Ravenswood (gains)	—			—			(5,500		)	—			(5,500		)
Other operating expense - net	—			—			2,111			—			2,111
Operating income (loss)	(27,846		)	37,252			84,452			—			93,858
Interest expense - third parties	(20,397		)	(1,554		)	(223		)	—			(22,174		)
Interest income (expense) - affiliates	37,184			8,760			(45,944		)	—			—
Interest income - third parties	482			—			915			—			1,397
Net gain (loss) on forward and derivative contracts	—			(17,073		)	524			—			(16,549		)
Other income (expense) - net	986			2,976			(5,123		)	—			(1,161		)
Income (loss) before income taxes and equity in earnings of subsidiaries and joint ventures	(9,591		)	30,361			34,601			—			55,371
Income tax (expense) benefit	457			972			(9,012		)	—			(7,583		)
Income (loss) before equity in earnings of subsidiaries and joint ventures	(9,134		)	31,333			25,589			—			47,788
Equity in earnings of subsidiaries and joint ventures	57,714			2,703			792			(60,417		)	792
Net income	$	48,580		$	34,036		$	26,381		$	(60,417	)	$	48,580
Other comprehensive income before income tax effect	23,678			12,722			1,457			(14,179		)	23,678
Income tax effect	(1,527		)	—			37			(37		)	(1,527		)
Other comprehensive income	22,151			12,722			1,494			(14,216		)	22,151
Total comprehensive income	$	70,731		$	46,758		$	27,875		$	(74,633	)	$	70,731



Condensed Consolidating Statements of Comprehensive Income (Loss)
For the year ended December 31, 2016
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
NET SALES:
Related parties	$	—		$	668,486		$	510,145		$	—		$	1,178,631
Other customers	—			140,426			37			—			140,463
Total net sales	—			808,912			510,182			—			1,319,094
Cost of goods sold	—			862,632			467,504			—			1,330,136
Gross profit (loss)	—			(53,720		)	42,678			—			(11,042		)
Selling, general and administrative expenses	20,704			9,853			9,707			—			40,264
Helguvik losses	—			—			152,220			—			152,220
Ravenswood losses	—			—			26,830			—			26,830
Other operating expense - net	—			—			3,857			—			3,857
Operating loss	(20,704		)	(63,573		)	(149,936		)	—			(234,213		)
Interest expense - third parties	(20,378		)	(1,659		)	(179		)	—			(22,216		)
Interest income (expense) - affiliates	39,211			8,107			(47,318		)	—			—
Interest income - third parties	182			10			566			—			758
Net gain on forward and derivative contracts	—			3,487			—			—			3,487
Other income (expense) - net	1,239			218			(138		)	—			1,319
Loss before income taxes and equity in earnings (loss) of subsidiaries and joint ventures	(450		)	(53,410		)	(197,005		)	—			(250,865		)
Income tax (expense) benefit	1,925			—			(4,749		)	—			(2,824		)
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures	1,475			(53,410		)	(201,754		)	—			(253,689		)
Equity in earnings (loss) of subsidiaries and joint ventures	(253,890		)	12,463			1,274			241,427			1,274
Net loss	$	(252,415	)	$	(40,947	)	$	(200,480	)	$	241,427		$	(252,415	)
Other comprehensive income before income tax effect	288			1,868			5,134			(7,002		)	288
Income tax effect	(1,531		)	—			(24		)	24			(1,531		)
Other comprehensive income (loss)	(1,243		)	1,868			5,110			(6,978		)	(1,243		)
Total comprehensive loss	$	(253,658	)	$	(39,079	)	$	(195,370	)	$	234,449		$	(253,658	)



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
Other customers	—			82,327			43			(224		)	82,146
Total net sales	—			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 losses	—			—			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 subsidiaries and joint ventures	(9,154		)	(19,870		)	(10,340		)	(1,758		)	(41,122		)
Income tax (expense) benefit	2,140			—			(11,416		)	—			(9,276		)
Loss before equity in earnings (loss) of subsidiaries and joint ventures	(7,014		)	(19,870		)	(21,756		)	(1,758		)	(50,398		)
BHH impairment	—			—			(11,584		)	—			(11,584		)
Equity in earnings (loss) of subsidiaries and 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 Balance Sheet
As of December 31, 2017
	The Company		Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	64,384	$	(132	)	$	102,959	$	—		$	167,211
Restricted cash	—		801			47		—			848
Accounts receivable - net	—		42,792			279		—			43,071
Due from affiliates	42		10,312			12		—			10,366
Inventories	181		205,156			112,132		—			317,469
Prepaid and other current assets	3,330		754			10,625		—			14,709
Total current assets	67,937		259,683			226,054		—			553,674
Property, plant and equipment - net	19,381		295,865			656,670		—			971,916
Investment in subsidiaries	751,820		53,942			—		(805,762		)	—
Due from affiliates - long term	513,328		349,572			9,430		(872,330		)	—
Other assets	27,954		34,162			25,915		(31,980		)	56,051
TOTAL	$	1,380,420	$	993,224		$	918,069	$	(1,710,072	)	$	1,581,641

Accounts payable, trade	$	6,297	$	51,394		$	32,240	$	—		$	89,931
Due to affiliates	421		2,563			17,385		—			20,369
Accrued and other current liabilities	15,973		19,301			26,124		—			61,398
Accrued employee benefits costs	1,917		8,263			824		—			11,004
Industrial revenue bonds	—		7,815			—		—			7,815
Total current liabilities	24,608		89,336			76,573		—			190,517
Senior notes payable	248,153		—			—		—			248,153
Accrued pension benefits costs - less current portion	39,462		18,303			13,144		(31,980		)	38,929
Accrued postretirement benefits costs - less current portion	879		110,394			1,723		—			112,996
Other liabilities	3,523		31,991			22,413		—			57,927
Due to affiliates - long term	234,137		53,812			584,381		(872,330		)	—
Deferred taxes	15		1,748			101,713		—			103,476
Total noncurrent liabilities	526,169		216,248			723,374		(904,310		)	561,481
Preferred stock	1		—			—		—			1
Common stock	947		1			59		(60		)	947
Other shareholders' equity	828,695		687,639			118,063		(805,702		)	828,695
Total shareholders' equity	829,643		687,640			118,122		(805,762		)	829,643
TOTAL	$	1,380,420	$	993,224		$	918,069	$	(1,710,072	)	$	1,581,641



Condensed Consolidating Balance Sheet
As of December 31, 2016
	The Company		Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries		Consolidating Adjustments			Total Consolidated
Cash & cash equivalents	$	36,670	$	(255	)	$	95,988	$	—		$	132,403
Restricted cash	—		794			256		—			1,050
Accounts receivable - net	167		11,883			382		—			12,432
Due from affiliates	42		16,606			3		—			16,651
Inventories	180		146,689			86,694		—			233,563
Prepaid and other current assets	6,838		5,699			9,673		—			22,210
Assets held for sale	—		—			22,313		—			22,313
Total current assets	43,897		181,416			215,309		—			440,622
Property, plant and equipment - net	12,311		328,069			685,905		—			1,026,285
Investment in subsidiaries	702,659		51,240			—		(753,899		)	—
Due from affiliates - long term	529,873		346,893			1,792		(878,558		)	—
Other assets	28,215		49,331			27,596		(31,722		)	73,420
TOTAL	$	1,316,955	$	956,949		$	930,602	$	(1,664,179	)	$	1,540,327

Accounts payable, trade	$	6,125	$	52,921		$	35,914	$	—		$	94,960
Due to affiliates	417		9,641			5,310		—			15,368
Accrued and other current liabilities	11,950		17,744			20,406		—			50,100
Accrued employee benefits costs	1,932		8,317			668		—			10,917
Industrial revenue bonds	—		7,815			—		—			7,815
Total current liabilities	20,424		96,438			62,298		—			179,160
Senior notes payable	247,699		—			—		—			247,699
Accrued pension benefits costs - less current portion	46,390		20,167			14,658		(31,722		)	49,493
Accrued postretirement benefits costs - less current portion	4,380		120,242			1,733		—			126,355
Other liabilities	4,160		30,920			36,946		—			72,026
Due to affiliates - long term	237,247		42,609			598,702		(878,558		)	—
Deferred taxes	—		2,735			106,204		—			108,939
Total noncurrent liabilities	539,876		216,673			758,243		(910,280		)	604,512
Preferred stock	1		—			—		—			1
Common stock	944		1			59		(60		)	944
Other shareholders' equity	755,710		643,837			110,002		(753,839		)	755,710
Total shareholders' equity	756,655		643,838			110,061		(753,899		)	756,655
TOTAL	$	1,316,955	$	956,949		$	930,602	$	(1,664,179	)	$	1,540,327



Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2017
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by (used in) operating activities	$	(34,417	)	$	(6,993	)	$	96,123		$	(2,954	)	$	51,759
Purchase of property, plant and equipment	(10,889		)	(8,111		)	(12,839		)	—			(31,839		)
Proceeds from sale of property, plant and equipment	—			899			13,585			—			14,484
Intercompany transactions	75,726			6,081			(7,638		)	(74,169		)	—
Net cash provided by (used in) investing activities	64,837			(1,131		)	(6,892		)	(74,169		)	(17,355		)
Borrowings under revolving credit facilities	1,281			—			—			—			1,281
Repayments under revolving credit facilities	(1,281		)	—			—			—			(1,281		)
Issuance of common stock	404			—			—			—			404
Intercompany transactions	(3,110		)	8,247			(82,260		)	77,123			—
Net cash provided by (used in) financing activities	(2,706		)	8,247			(82,260		)	77,123			404
CHANGE IN CASH AND CASH EQUIVALENTS	27,714			123			6,971			—			34,808
Cash and cash equivalents, beginning of period	36,670			(255		)	95,988			—			132,403
Cash and cash equivalents, end of period	$	64,384		$	(132	)	$	102,959		$	—		$	167,211



Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2016
	The Company			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Consolidating Adjustments			Total Consolidated
Net cash provided by (used in) operating activities	$	(63,446	)	$	19,019		$	82,600		$	—		$	38,173
Purchase of property, plant and equipment	(1,425		)	(7,807		)	(12,712		)	—			(21,944		)
Proceeds from sale of property, plant and equipment	—			—			1,040			—			1,040
Restricted and other cash deposits	—			(3		)	(256		)	—			(259		)
Intercompany transactions	27,761			(15,305		)	(937		)	(11,519		)	—
Net cash provided by (used in) investing activities	26,336			(23,115		)	(12,865		)	(11,519		)	(21,163		)
Borrowings under revolving credit facilities	1,179			—			—			—			1,179
Repayments under revolving credit facilities	(1,179		)	—			—			—			(1,179		)
Intercompany transactions	15,359			7,488			(34,366		)	11,519			—
Net cash provided by (used in) financing activities	15,359			7,488			(34,366		)	11,519			—
CHANGE IN CASH AND CASH EQUIVALENTS	(21,751		)	3,392			35,369			—			17,010
Cash and cash equivalents, beginning of period	58,421			(3,647		)	60,619			—			115,393
Cash and cash equivalents, end of period	$	36,670		$	(255	)	$	95,988		$	—		$	132,403



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 period	70,683			(1,187		)	93,746			—			163,242
Cash and cash equivalents, end of period	$	58,421		$	(3,647	)	$	60,619		$	—		$	115,393