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Condensed Consolidating Financial Information | 9 Months Ended
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Sep. 30, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information The Company has filed a Registration Statement on Form S-3 (the "Universal Shelf Registration Statement") with the Securities and Exchange Commission pursuant to which the Company may, from time to time, offer an indeterminate amount of securities, which may include securities that are guaranteed by certain of the Company's subsidiaries. The condensed consolidated financial information below is presented herein pursuant to the Universal Shelf Registration Statement. We have not issued any debt securities pursuant to the Universal Shelf Registration Statement. "Guarantor Subsidiaries" refers to all of our material domestic 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 will be full and unconditional; all guarantees will be joint and several. Our foreign subsidiaries, together with Nordural US LLC, Century Aluminum Development LLC and Century Aluminum of West Virginia, Inc., are collectively referred to as 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 and nine months ended September 30, 2020 and 2019, condensed consolidating balance sheets as of September 30, 2020 and December 31, 2019 and the condensed consolidating statements of cash flows for the nine months ended September 30, 2020 and 2019 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 three months ended September 30, 2020
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |
Related parties | $ | — |  |  | $ | 116.4 |  |  | $ | 119.4 |  |  | $ | — |  |  | $ | 235.8 |
Other customers | — |  |  | 125.7 |  |  | 31.4 |  |  | — |  |  | 157.1 |
Total net sales | — |  |  | 242.1 |  |  | 150.8 |  |  | — |  |  | 392.9 |
Cost of goods sold | — |  |  | 273.3 |  |  | 146.7 |  |  | — |  |  | 420.0 |
Gross profit (loss) | — |  |  | (31.2) |  |  | 4.1 |  |  | — |  |  | (27.1) |
Selling, general and administrative expenses | 10.6 |  |  | — |  |  | 0.4 |  |  | — |  |  | 11.0 |
Other operating (income) expense - net | — |  |  | — |  |  | (0.2) |  |  | — |  |  | (0.2) |
Operating income (loss) | (10.6) |  |  | (31.2) |  |  | 3.9 |  |  | — |  |  | (37.9) |
Interest expense - Hawesville term loan | (0.4) |  |  | — |  |  | — |  |  | — |  |  | (0.4) |
Interest expense | (8.3) |  |  | (0.4) |  |  | (0.4) |  |  | — |  |  | (9.1) |
Intercompany interest | 8.1 |  |  | 2.8 |  |  | (10.9) |  |  | — |  |  | — |
Interest income | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net gain (loss) on forward and derivative contracts | (10.0) |  |  | 0.4 |  |  | 0.2 |  |  | — |  |  | (9.4) |
Loss on early extinguishment of debt | (1.2) |  |  | — |  |  | — |  |  | — |  |  | (1.2) |
Other income (expense) - net | (0.1) |  |  | 0.2 |  |  | (0.1) |  |  | — |  |  | 0.0 |
Income (loss) before income taxes and equity in earnings of joint ventures | (22.5) |  |  | (28.2) |  |  | (7.2) |  |  | — |  |  | (57.9) |
Income tax benefit (expense) | 0.0 |  |  | — |  |  | (0.3) |  |  | — |  |  | (0.3) |
Income (loss) before equity in earnings of joint ventures | (22.5) |  |  | (28.2) |  |  | (7.5) |  |  | — |  |  | (58.2) |
Equity in earnings (loss) of joint ventures | (35.7) |  |  | 0.8 |  |  | — |  |  | 34.9 |  |  | — |
Net income (loss) | (58.2) |  |  | (27.4) |  |  | (7.5) |  |  | 34.9 |  |  | (58.2) |
Other comprehensive income before income tax effect | 1.3 |  |  | 0.8 |  |  | 0.4 |  |  | (1.2) |  |  | 1.3 |
Income tax effect | (0.2) |  |  | — |  |  | — |  |  | — |  |  | (0.2) |
Other comprehensive income | 1.1 |  |  | 0.8 |  |  | 0.4 |  |  | (1.2) |  |  | 1.1 |
Total comprehensive income (loss) | $ | (57.1) |  |  | $ | (26.6) |  |  | $ | (7.1) |  |  | $ | 33.7 |  |  | $ | (57.1) |
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended September 30, 2019
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |
Related parties | $ | — |  |  | $ | 132.9 |  |  | $ | 149.4 |  |  | $ | — |  |  | $ | 282.3 |
Other customers | — |  |  | 144.2 |  |  | 11.5 |  |  | — |  |  | 155.7 |
Total net sales | — |  |  | 277.1 |  |  | 160.9 |  |  | — |  |  | 438.0 |
Cost of goods sold | — |  |  | 288.3 |  |  | 163.4 |  |  | — |  |  | 451.7 |
Gross profit (loss) | — |  |  | (11.2) |  |  | (2.5) |  |  | — |  |  | (13.7) |
Selling, general and administrative expenses | 11.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | 11.6 |
Other operating (income) expense - net | — |  |  | — |  |  | (0.1) |  |  | — |  |  | (0.1) |
Operating income (loss) | (11.3) |  |  | (11.2) |  |  | (2.7) |  |  | — |  |  | (25.2) |
Interest expense - Hawesville term loan | (0.8) |  |  | — |  |  | — |  |  | — |  |  | (0.8) |
Interest expense | (5.1) |  |  | (0.4) |  |  | (0.1) |  |  | — |  |  | (5.6) |
Intercompany interest | 8.8 |  |  | 2.6 |  |  | (11.4) |  |  | — |  |  | — |
Interest income | 0.1 |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.2 |
Net gain (loss) on forward and derivative contracts | 10.2 |  |  | 0.3 |  |  | (0.2) |  |  | — |  |  | 10.3 |
Other income (expense) - net | 0.1 |  |  | (0.1) |  |  | (0.9) |  |  | — |  |  | (0.9) |
Income (loss) before income taxes and equity in earnings of joint ventures | 2.0 |  |  | (8.8) |  |  | (15.2) |  |  | — |  |  | (22.0) |
Income tax (expense) benefit | 0.7 |  |  | — |  |  | 0.6 |  |  | — |  |  | 1.3 |
Income (loss) before equity in earnings of joint ventures | 2.7 |  |  | (8.8) |  |  | (14.6) |  |  | — |  |  | (20.7) |
Equity in earnings (loss) of joint ventures | (23.4) |  |  | 3.4 |  |  | (0.1) |  |  | 20.1 |  |  | — |
Net income (loss) | (20.7) |  |  | (5.4) |  |  | (14.7) |  |  | 20.1 |  |  | (20.7) |
Other comprehensive income (loss) before income tax effect | 1.0 |  |  | 0.8 |  |  | 0.5 |  |  | (1.3) |  |  | 1.0 |
Income tax effect | (0.3) |  |  | — |  |  | — |  |  | — |  |  | (0.3) |
Other comprehensive income | 0.7 |  |  | 0.8 |  |  | 0.5 |  |  | (1.3) |  |  | 0.7 |
Total comprehensive income (loss) | $ | (20.0) |  |  | $ | (4.6) |  |  | $ | (14.2) |  |  | $ | 18.8 |  |  | $ | (20.0) |
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the nine months ended September 30, 2020
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |
Related parties | $ | — |  |  | $ | 420.5 |  |  | $ | 371.9 |  |  | $ | — |  |  | $ | 792.4 |
Other customers | — |  |  | 343.5 |  |  | 80.1 |  |  | — |  |  | 423.6 |
Total net sales | — |  |  | 764.0 |  |  | 452.0 |  |  | — |  |  | 1,216.0 |
Cost of goods sold | — |  |  | 820.6 |  |  | 430.7 |  |  | — |  |  | 1,251.3 |
Gross profit (loss) | — |  |  | (56.6) |  |  | 21.3 |  |  | — |  |  | (35.3) |
Selling, general and administrative expenses | 30.5 |  |  | — |  |  | 1.2 |  |  | — |  |  | 31.7 |
Other operating (income) expense - net | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Operating income (loss) | (30.5) |  |  | (56.6) |  |  | 19.8 |  |  | — |  |  | (67.3) |
Interest expense - Hawesville term loan | (1.6) |  |  | — |  |  | — |  |  | — |  |  | (1.6) |
Interest expense | (18.8) |  |  | (1.2) |  |  | (1.0) |  |  | — |  |  | (21.0) |
Intercompany interest | 24.6 |  |  | 8.2 |  |  | (32.8) |  |  | — |  |  | — |
Interest income | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.6 |
Net gain (loss) on forward and derivative contracts | 20.7 |  |  | 1.1 |  |  | (23.7) |  |  | — |  |  | (1.9) |
Loss on early extinguishment of debt | (1.2) |  |  | — |  |  | — |  |  | — |  |  | (1.2) |
Other income (expense) - net | — |  |  | 0.9 |  |  | 2.1 |  |  | — |  |  | 3.0 |
Income (loss) before income taxes and equity in earnings of joint ventures | (6.5) |  |  | (47.6) |  |  | (35.3) |  |  | — |  |  | (89.4) |
Income tax benefit (expense) | 1.0 |  |  | — |  |  | 0.6 |  |  | — |  |  | 1.6 |
Income (loss) before equity in earnings of joint ventures | (5.5) |  |  | (47.6) |  |  | (34.7) |  |  | — |  |  | (87.8) |
Equity in earnings (loss) of joint ventures | (82.3) |  |  | 3.1 |  |  | — |  |  | 79.2 |  |  | 0.0 |
Net income (loss) | (87.8) |  |  | (44.5) |  |  | (34.7) |  |  | 79.2 |  |  | (87.8) |
Other comprehensive income before income tax effect | 4.1 |  |  | 2.3 |  |  | 1.3 |  |  | (3.6) |  |  | 4.1 |
Income tax effect | (0.8) |  |  | — |  |  | — |  |  | — |  |  | (0.8) |
Other comprehensive income | 3.3 |  |  | 2.3 |  |  | 1.3 |  |  | (3.6) |  |  | 3.3 |
Total comprehensive income (loss) | $ | (84.5) |  |  | $ | (42.2) |  |  | $ | (33.4) |  |  | $ | 75.6 |  |  | $ | (84.5) |
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the nine months ended September 30, 2019
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |
Related parties | $ | — |  |  | $ | 432.8 |  |  | $ | 465.9 |  |  | $ | — |  |  | $ | 898.7 |
Other customers | — |  |  | 479.1 |  |  | 23.4 |  |  | — |  |  | 502.5 |
Total net sales | — |  |  | 911.9 |  |  | 489.3 |  |  | — |  |  | 1,401.2 |
Cost of goods sold | — |  |  | 921.5 |  |  | 510.3 |  |  | — |  |  | 1,431.8 |
Gross profit (loss) | — |  |  | (9.6) |  |  | (21.0) |  |  | — |  |  | (30.6) |
Selling, general and administrative expenses | 36.9 |  |  | — |  |  | 1.3 |  |  | — |  |  | 38.2 |
Other operating (income) expense - net | — |  |  | — |  |  | 0.4 |  |  | — |  |  | 0.4 |
Operating income (loss) | (36.9) |  |  | (9.6) |  |  | (22.7) |  |  | — |  |  | (69.2) |
Interest expense - Hawesville term loan | (1.3) |  |  | — |  |  | — |  |  | — |  |  | (1.3) |
Interest expense | (15.9) |  |  | (1.2) |  |  | (0.2) |  |  | — |  |  | (17.3) |
Intercompany interest | 26.2 |  |  | 7.6 |  |  | (33.8) |  |  | — |  |  | — |
Interest income | 0.2 |  |  | — |  |  | 0.4 |  |  | — |  |  | 0.6 |
Net gain (loss) on forward and derivative contracts | 10.3 |  |  | 1.0 |  |  | (0.6) |  |  | — |  |  | 10.7 |
Other income (expense) - net | 0.9 |  |  | (2.0) |  |  | (0.5) |  |  | — |  |  | (1.6) |
Income (loss) before income taxes and equity in earnings of joint ventures | (16.5) |  |  | (4.2) |  |  | (57.4) |  |  | — |  |  | (78.1) |
Income tax benefit (expense) | 1.6 |  |  | — |  |  | 4.1 |  |  | — |  |  | 5.7 |
Income (loss) before equity in earnings of joint ventures | (14.9) |  |  | (4.2) |  |  | (53.3) |  |  | — |  |  | (72.4) |
Loss on sale of BHH | — |  |  | — |  |  | (4.3) |  |  | — |  |  | (4.3) |
Equity in earnings (loss) of joint ventures | (61.1) |  |  | 3.1 |  |  | 0.7 |  |  | 58.0 |  |  | 0.7 |
Net income (loss) | (76.0) |  |  | (1.1) |  |  | (56.9) |  |  | 58.0 |  |  | (76.0) |
Other comprehensive income before income tax effect | 2.8 |  |  | 1.6 |  |  | 2.0 |  |  | (3.6) |  |  | 2.8 |
Income tax effect | (0.8) |  |  | — |  |  | — |  |  | — |  |  | (0.8) |
Other comprehensive income | 2.0 |  |  | 1.6 |  |  | 2.0 |  |  | (3.6) |  |  | 2.0 |
Total comprehensive income (loss) | $ | (74.0) |  |  | $ | 0.5 |  |  | $ | (54.9) |  |  | $ | 54.4 |  |  | $ | (74.0) |
Condensed Consolidating Balance Sheets
As of September 30, 2020
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash & cash equivalents | $ | 3.1 |  |  | $ | 0.2 |  |  | $ | 78.1 |  |  | $ | — |  |  | $ | 81.4 |
Restricted cash | — |  |  | 1.8 |  |  | 1.9 |  |  | — |  |  | 3.7 |
Accounts receivable - net | 1.7 |  |  | 46.8 |  |  | 2.1 |  |  | — |  |  | 50.6 |
Due from affiliates | — |  |  | 4.5 |  |  | 10.5 |  |  | — |  |  | 15.0 |
Inventories | — |  |  | 178.3 |  |  | 89.2 |  |  | — |  |  | 267.5 |
Derivative Assets | 9.8 |  |  | — |  |  | 0.8 |  |  | — |  |  | 10.6 |
Prepaid and other current assets | 4.1 |  |  | 1.9 |  |  | 8.5 |  |  | — |  |  | 14.5 |
Total current assets | 18.7 |  |  | 233.5 |  |  | 191.1 |  |  | — |  |  | 443.3 |
Property, plant and equipment - net | 14.8 |  |  | 319.8 |  |  | 565.1 |  |  | — |  |  | 899.7 |
Investment in subsidiaries | 533.8 |  |  | 65.9 |  |  | — |  |  | (599.7) |  |  | — |
Due from affiliates - less current portion | 768.7 |  |  | 584.5 |  |  | 3.4 |  |  | (1,355.3) |  |  | 1.3 |
Other assets | 38.0 |  |  | 4.2 |  |  | 18.9 |  |  | — |  |  | 61.1 |
TOTAL | $ | 1,374.0 |  |  | $ | 1,207.9 |  |  | $ | 778.5 |  |  | $ | (1,955.0) |  |  | $ | 1,405.4 |
Accounts payable, trade | $ | 3.2 |  |  | $ | 59.4 |  |  | $ | 23.0 |  |  | $ | — |  |  | $ | 85.6 |
Due to affiliates | 1.6 |  |  | 1.3 |  |  | — |  |  | — |  |  | 2.9 |
Accrued and other current liabilities | 23.8 |  |  | 22.3 |  |  | 23.4 |  |  | — |  |  | 69.5 |
Accrued employee benefits costs | 1.9 |  |  | 7.7 |  |  | 0.8 |  |  | — |  |  | 10.4 |
Hawesville term loan - current | 20.0 |  |  | — |  |  | — |  |  | — |  |  | 20.0 |
U.S revolving credit facility | 5.0 |  |  | — |  |  | — |  |  | — |  |  | 5.0 |
Industrial revenue bonds | — |  |  | 7.8 |  |  | — |  |  | — |  |  | 7.8 |
Total current liabilities | 55.5 |  |  | 98.5 |  |  | 47.2 |  |  | — |  |  | 201.2 |
Senior notes payable | 242.8 |  |  | — |  |  | — |  |  | — |  |  | 242.8 |
Hawesville term loan - less current portion | 5.0 |  |  | — |  |  | — |  |  | — |  |  | 5.0 |
Iceland revolving credit facility | — |  |  | — |  |  | 45.0 |  |  | — |  |  | 45.0 |
Accrued pension benefits costs - less current portion | 23.9 |  |  | 25.4 |  |  | 6.7 |  |  | — |  |  | 56.0 |
Accrued postretirement benefits costs - less current portion | 1.0 |  |  | 96.0 |  |  | 1.8 |  |  | — |  |  | 98.8 |
Due to affiliates - long term | 439.8 |  |  | 352.1 |  |  | 563.4 |  |  | (1,355.3) |  |  | — |
Other liabilities | 7.5 |  |  | 24.4 |  |  | 14.3 |  |  | — |  |  | 46.2 |
Leases - right of use liabilities | 6.1 |  |  | 0.0 |  |  | 17.3 |  |  | — |  |  | 23.4 |
Deferred taxes | — |  |  | 0.4 |  |  | 94.2 |  |  | — |  |  | 94.6 |
Total noncurrent liabilities | 726.1 |  |  | 498.3 |  |  | 742.7 |  |  | (1,355.3) |  |  | 611.8 |
Preferred stock | 0.0 |  |  | — |  |  | — |  |  | — |  |  | 0.0 |
Common stock | 1.0 |  |  | — |  |  | — |  |  | — |  |  | 1.0 |
Other shareholders' equity | 591.4 |  |  | 611.1 |  |  | (11.4) |  |  | (599.7) |  |  | 591.4 |
Total shareholders' equity | 592.4 |  |  | 611.1 |  |  | (11.4) |  |  | (599.7) |  |  | 592.4 |
TOTAL | $ | 1,374.0 |  |  | $ | 1,207.9 |  |  | $ | 778.5 |  |  | $ | (1,955.0) |  |  | $ | 1,405.4 |
Condensed Consolidating Balance Sheets
As of December 31, 2019
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash & cash equivalents | $ | 0.3 |  |  | $ | 0.1 |  |  | $ | 38.5 |  |  | $ | — |  |  | $ | 38.9 |
Restricted cash | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Accounts receivable - net | 0.7 |  |  | 64.1 |  |  | 5.3 |  |  | — |  |  | 70.1 |
Due from affiliates | — |  |  | 10.9 |  |  | 19.2 |  |  | — |  |  | 30.1 |
Inventories | — |  |  | 205.5 |  |  | 115.1 |  |  | — |  |  | 320.6 |
Derivative Assets | 12.2 |  |  | — |  |  | 2.4 |  |  | — |  |  | 14.6 |
Prepaid and other current assets | 3.0 |  |  | 2.8 |  |  | 6.4 |  |  | — |  |  | 12.2 |
Total current assets | 16.2 |  |  | 284.2 |  |  | 186.9 |  |  | — |  |  | 487.3 |
Property, plant and equipment - net | 17.2 |  |  | 334.8 |  |  | 597.2 |  |  | — |  |  | 949.2 |
Investment in subsidiaries | 609.5 |  |  | 62.7 |  |  | — |  |  | (672.2) |  |  | — |
Due from affiliates - long term | 749.5 |  |  | 537.9 |  |  | 5.1 |  |  | (1,292.0) |  |  | 0.5 |
Other assets | 38.1 |  |  | 5.7 |  |  | 18.9 |  |  | — |  |  | 62.7 |
TOTAL | $ | 1,430.5 |  |  | $ | 1,225.3 |  |  | $ | 808.1 |  |  | $ | (1,964.2) |  |  | $ | 1,499.7 |
Accounts payable, trade | $ | 2.3 |  |  | $ | 66.2 |  |  | $ | 28.6 |  |  | $ | — |  |  | $ | 97.1 |
Due to affiliates | — |  |  | 2.2 |  |  | 30.7 |  |  | — |  |  | 32.9 |
Accrued and other current liabilities | 23.5 |  |  | 27.3 |  |  | 14.7 |  |  | — |  |  | 65.5 |
Accrued employee benefits costs | 1.9 |  |  | 7.7 |  |  | 0.8 |  |  | — |  |  | 10.4 |
Hawesville term loan | 20.0 |  |  | — |  |  | — |  |  | — |  |  | 20.0 |
Industrial revenue bonds | — |  |  | 7.8 |  |  | — |  |  | — |  |  | 7.8 |
Total current liabilities | 47.7 |  |  | 111.2 |  |  | 74.8 |  |  | — |  |  | 233.7 |
Senior notes payable | 249.2 |  |  | — |  |  | — |  |  | — |  |  | 249.2 |
Hawesville term loan - less current portion | 20.0 |  |  | — |  |  | — |  |  | — |  |  | 20.0 |
Accrued pension benefits costs - less current portion | 25.1 |  |  | 27.3 |  |  | 8.4 |  |  | — |  |  | 60.8 |
Accrued postretirement benefits costs - less current portion | 1.1 |  |  | 97.8 |  |  | 1.8 |  |  | — |  |  | 100.7 |
Leases - right of use liabilities | 5.5 |  |  | 0.4 |  |  | 16.9 |  |  | — |  |  | 22.8 |
Other liabilities | 3.5 |  |  | 22.2 |  |  | 16.7 |  |  | — |  |  | 42.4 |
Due to affiliates - long term | 403.4 |  |  | 315.9 |  |  | 572.7 |  |  | (1,292.0) |  |  | — |
Deferred taxes | — |  |  | 0.4 |  |  | 94.7 |  |  | — |  |  | 95.1 |
Total noncurrent liabilities | 707.8 |  |  | 464.0 |  |  | 711.2 |  |  | (1,292.0) |  |  | 591.0 |
Preferred stock | 0.0 |  |  | — |  |  | — |  |  | — |  |  | 0.0 |
Common stock | 1.0 |  |  | 0.0 |  |  | 0.1 |  |  | (0.1) |  |  | 1.0 |
Other shareholders' equity | 674.0 |  |  | 650.1 |  |  | 22.0 |  |  | (672.1) |  |  | 674.0 |
Total shareholders' equity | 675.0 |  |  | 650.1 |  |  | 22.1 |  |  | (672.2) |  |  | 675.0 |
TOTAL | $ | 1,430.5 |  |  | $ | 1,225.3 |  |  | $ | 808.1 |  |  | $ | (1,964.2) |  |  | $ | 1,499.7 |
Condensed Consolidating Statements of Cash Flows
For the nine months ended September 30, 2020
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities | $ | (26.1) |  |  | $ | 21.3 |  |  | $ | 38.1 |  |  | $ | — |  |  | $ | 33.3 |
Purchase of property, plant and equipment | (0.8) |  |  | (9.3) |  |  | (1.4) |  |  | — |  |  | (11.5) |
Proceeds from sale of property, plant, and equipment | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Intercompany transactions | 14.9 |  |  | (38.3) |  |  | 1.8 |  |  | 21.6 |  |  | — |
Net cash provided by (used in) investing activities | 14.1 |  |  | (47.6) |  |  | 0.5 |  |  | 21.6 |  |  | (11.4) |
Repayment of debt | (250.0) |  |  | — |  |  | — |  |  | — |  |  | (250.0) |
Proceeds from issuance of debt | 243.8 |  |  | — |  |  | — |  |  | — |  |  | 243.8 |
Repayments on Hawesville term loan | (15.0) |  |  | — |  |  | — |  |  | — |  |  | (15.0) |
Borrowings under revolving credit facilities | 128.6 |  |  | — |  |  | 45.0 |  |  | — |  |  | 173.6 |
Repayments under revolving credit facilities | (127.6) |  |  | — |  |  | — |  |  | — |  |  | (127.6) |
Debt issuance costs | (1.1) |  |  | — |  |  | — |  |  | — |  |  | (1.1) |
Debt retirement costs | (0.2) |  |  | — |  |  | — |  |  | — |  |  | (0.2) |
Intercompany transactions | 36.3 |  |  | 27.4 |  |  | (42.1) |  |  | (21.6) |  |  | — |
Net cash provided by (used in) financing activities | 14.8 |  |  | 27.4 |  |  | 2.9 |  |  | (21.6) |  |  | 23.5 |
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 2.8 |  |  | 1.1 |  |  | 41.5 |  |  | — |  |  | 45.4 |
Cash, cash equivalents and restricted cash, beginning of period | 0.3 |  |  | 0.9 |  |  | 38.5 |  |  | — |  |  | 39.7 |
Cash, cash equivalents and restricted cash, end of period | $ | 3.1 |  |  | $ | 2.0 |  |  | $ | 80.0 |  |  | $ | — |  |  | $ | 85.1 |
Condensed Consolidating Statements of Cash Flows
For the nine months ended September 30, 2019
| The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities | $ | (57.1) |  |  | $ | 45.0 |  |  | $ | 7.7 |  |  | $ | — |  |  | $ | (4.4) |
Purchase of property, plant and equipment | (0.6) |  |  | (26.4) |  |  | (12.9) |  |  | — |  |  | (39.9) |
Proceeds from sale of joint venture | — |  |  | — |  |  | 10.5 |  |  | — |  |  | 10.5 |
Intercompany transactions | (9.3) |  |  | (52.6) |  |  | 2.0 |  |  | 59.9 |  |  | — |
Net cash provided by (used in) investing activities | (9.9) |  |  | (79.0) |  |  | (0.4) |  |  | 59.9 |  |  | (29.4) |
Borrowing under Hawesville term loan | 40.0 |  |  | — |  |  | — |  |  | — |  |  | 40.0 |
Borrowings under revolving credit facilities | 295.1 |  |  | — |  |  | 19.5 |  |  | — |  |  | 314.6 |
Repayments under revolving credit facilities | (318.0) |  |  | — |  |  | (19.5) |  |  | — |  |  | (337.5) |
Other short term borrowings | 3.4 |  |  | — |  |  | — |  |  | — |  |  | 3.4 |
Repayment on other short term borrowings | (3.4) |  |  | — |  |  | — |  |  | — |  |  | (3.4) |
Issuance of common stock | 0.3 |  |  | — |  |  | — |  |  | — |  |  | 0.3 |
Intercompany transactions | 51.0 |  |  | 34.0 |  |  | (25.1) |  |  | (59.9) |  |  | — |
Net cash provided by (used in) financing activities | 68.4 |  |  | 34.0 |  |  | (25.1) |  |  | (59.9) |  |  | 17.4 |
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1.4 |  |  | — |  |  | (17.8) |  |  | — |  |  | (16.4) |
Cash, cash equivalents and restricted cash, beginning of period | 0.1 |  |  | 0.8 |  |  | 38.8 |  |  | — |  |  | 39.7 |
Cash, cash equivalents and restricted cash, end of period | $ | 1.5 |  |  | $ | 0.8 |  |  | $ | 21.0 |  |  | $ | — |  |  | $ | 23.3 |

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