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Related Party Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions The significant related party transactions occurring during the years ended December 31, 2019, 2018 and 2017 are described below. We believe all of our transactions with Glencore and BHH were at prices that approximate market. Glencore ownership As of December 31, 2019, Glencore plc and its affiliates (together "Glencore") beneficially owned 42.9% of Century’s outstanding common stock (46.9% on a fully-diluted basis assuming the conversion of all of the Series A Convertible Preferred Stock) and all of our outstanding Series A Convertible Preferred Stock. See Note 7. Shareholders' Equity for a full description of our outstanding Series A Convertible Preferred Stock. From time to time Century and Glencore enter into various transactions for the purchase and sale of primary aluminum, purchase and sale of alumina, tolling agreements, certain forward financial contracts and loan agreements. Sales to Glencore For the year ended December 31, 2019, we derived approximately 65% of our consolidated sales from Glencore. Glencore purchases aluminum produced at our U.S. smelters at prices based on the LME plus the Midwest regional premium plus any additional market-based product premiums. Glencore purchases aluminum produced at our Grundartangi, Iceland smelter at prices based on the LME plus the European Duty Paid premium plus any additional market-based product premiums. We have entered into agreements with Glencore pursuant to which we sell certain amounts of alumina at prices that approximate market. For the year ended December 31, 2019 we recorded $28.7 million of revenue related to alumina sales to Glencore. Purchases from Glencore We purchase a portion of our alumina requirements from Glencore. Alumina purchases from Glencore during 2019 were priced based on a published alumina index. Financial contracts with Glencore We have certain financial contracts with Glencore. See Note 19. Derivatives regarding these forward financial sales contracts. Hawesville Term Loan On April 29, 2019, we entered into a loan agreement with Glencore Ltd. pursuant to which the Company borrowed $40.0 million (the "Hawesville Term Loan”). See Note 6. Debt for additional information. Borrowings under the Hawesville Term Loan are being used to partially finance the second phase of the Hawesville restart project. Ownership in Baise Haohai Carbon Co. Ltd. ("BHH") On May 22 2019, Century Aluminum Asia Holdings Ltd. ("CAHL"), a wholly-owned subsidiary of Century Aluminum Company, entered into an equity transfer agreement with Guangxi Qiangqiang Carbon Co., Ltd. ("GQQ") pursuant to which GQQ acquired all of our 40% interest in BHH. As consideration for the sale, GQQ paid us the full purchase price of RMB 144.9 million ($20.8 million) in cash in 2019. In connection with this sale, we recorded a loss of $4.3 million, included in the Consolidated Statement of Operations for the year ended December 31, 2019. Summary A summary of the aforementioned significant related party transactions for the years ended December 31, 2019, 2018 and 2017 is as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
Net sales to Glencore | $ | 1,191.6 |  |  | $ | 1,204.5 |  |  | $ | 1,198.1 |
Purchases from Glencore | 323.9 |  |  | 319.6 |  |  | 253.0 |
Purchases from BHH* | 17.8 |  |  | 28.4 |  |  | 15.8 |
* Represents purchases prior to the sale of our 40% interest in BHH on May 22, 2019.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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