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Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Statements of Comprehensive Income (Loss)

The following summarized condensed consolidating statements of comprehensive income (loss) for the twelve months ended December 31, 2020, 2019, and 2018, condensed consolidating balance sheets as of December 31, 2020 and December 31, 2019 and the condensed consolidating statements of cash flows for the twelve months ended December 31, 2020, 2019, and 2018 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, 2020
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
NET SALES:
Related parties						$	—					$	531.1					$	494.4					$	—					$	1,025.5
Other customers						—						476.4						103.2						—						579.6
Total net sales						—						1,007.5						597.6						—						1,605.1
Cost of goods sold						—						1,072.5						569.1						—						1,641.6
Gross profit (loss)						—						(65.0)						28.5						—						(36.5)
Selling, general and administrative expenses						27.2						11.9						4.4						—						43.5
Other operating expense - net						—						—						0.5												0.5
Operating income (loss)						(27.2)						(76.9)						23.6						—						(80.5)
Interest expense - Hawesville term loan						(1.9)						—						—						—						(1.9)
Interest expense						(26.8)						(1.5)						(1.4)						—						(29.7)
Intercompany Interest						32.8						11.1						(43.9)						—						—
Interest income						0.4						—						0.4						—						0.8
Net gain on forward and derivative contracts						10.6						1.4						(29.3)						—						(17.3)
Loss on early extinguishment of debt						(1.2)						—						—						—						(1.2)
Other income (expense) - net						(0.1)						1.0						2.6						—						3.5
Income (loss) before income taxes and equity in earnings of joint ventures						(13.4)						(64.9)						(48.0)						—						(126.3)
Income tax (expense) benefit						1.2						—						1.9						—						3.1
Income (loss) before equity in earnings of joint ventures						(12.2)						(64.9)						(46.1)						—						(123.2)
BHH impairment						—						—						—						—						—
Equity in earnings (loss) of joint ventures						(111.1)						2.6						(0.1)						108.5						(0.1)
Net income (loss)						(123.3)						(62.3)						(46.2)						108.5						(123.3)
Other comprehensive income (loss) before income tax effect						(7.9)						(4.7)						(1.3)						6.0						(7.9)
Income tax effect						(1.0)						—						0.0						0.0						(1.0)
Other comprehensive income (loss)						(8.9)						(4.7)						(1.3)						6.0						(8.9)
Total comprehensive income (loss)						$	(132.2)					$	(67.0)					$	(47.5)					$	114.5					$	(132.2)

Condensed Consolidating Statements of Comprehensive Income (Loss)
For the year ended December 31, 2019
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
NET SALES:
Related parties						$	—					$	566.5					$	625.1					$	—					$	1,191.6
Other customers						—						613.1						31.9						—						645.0
Total net sales						—						1,179.6						657.0						—						1,836.6
Cost of goods sold						—						1,182.4						678.1						—						1,860.5
Gross profit (loss)						—						(2.8)						(21.1)						—						(23.9)
Selling, general and administrative expenses						25.9						16.3						5.2						—						47.4
Other operating expense - net						—						—						0.8						—						0.8
Operating income (loss)						(25.9)						(19.1)						(27.1)						—						(72.1)
Interest expense - Hawesville term loan						(2.1)						—						—						—						(2.1)
Interest expense						(21.0)						(1.7)						(0.3)						—						(23.0)
Intercompany Interest						35.0						10.3						(45.3)						—						—
Interest income						0.2						—						0.6						—						0.8
Net gain (loss) on forward and derivative contracts						12.0						1.4						(1.4)						—						12.0
Other income (expense) - net						1.3						(2.8)						0.4						—						(1.1)
Income (loss) before income taxes and equity in earnings of joint ventures						(0.5)						(11.9)						(73.1)						—						(85.5)
Income tax (expense) benefit						1.2						1.4						5.8						—						8.4
Income (loss) before equity in earnings of joint ventures						0.7						(10.5)						(67.3)						—						(77.1)
BHH impairment						—						—						(4.3)						—						(4.3)
Equity in earnings (loss) of joint ventures						(81.5)						8.2						0.6						73.3						0.6
Net income (loss)						(80.8)						(2.3)						(71.0)						73.3						(80.8)
Other comprehensive income before income tax effect						(8.8)						(3.2)						(1.2)						4.4						(8.8)
Income tax effect						(1.0)						—						0.0						—						(1.0)
Other comprehensive income (loss)						(9.8)						(3.2)						(1.2)						4.4						(9.8)
Total comprehensive income (loss)						$	(90.6)					$	(5.5)					$	(72.2)					$	77.7					$	(90.6)

Condensed Consolidating Statements of Comprehensive Income (Loss)
For the year ended December 31, 2018
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
NET SALES:
Related parties						$	—					$	453.6					$	750.9					$	—					$	1,204.5
Other customers						—						685.0						3.7						—						688.7
Total net sales						—						1,138.6						754.6						—						1,893.2
Cost of goods sold						—						1,169.2						746.9						—						1,916.1
Gross profit (loss)						—						(30.6)						7.7						—						(22.9)
Selling, general and administrative expenses						23.3						11.6						5.3						—						40.2
Helguvik impairment						—						—						(4.5)						—						(4.5)
Other operating expense - net						—						—						0.4						—						0.4
Operating income (loss)						(23.3)						(42.2)						6.5						—						(59.0)
Interest expense						(20.6)						(1.6)						(0.2)						—						(22.4)
Intercompany Interest						36.3						9.5						(45.8)						—						—
Interest income						0.3						—						1.2						—						1.5
Net gain (loss) on forward and derivative contracts						1.3						1.4						3.6						—						6.3
Other income (expense) - net						2.1						(1.9)						2.8						—						3.0
Income (loss) before income taxes and equity in earnings of joint ventures						(3.9)						(34.8)						(31.9)						—						(70.6)
Income tax (expense) benefit						2.6						—						(2.4)						—						0.2
Income (loss) before equity in earnings (loss) of joint ventures						(1.3)						(34.8)						(34.3)						—						(70.4)
Equity in earnings (loss) of subsidiaries and joint ventures						(64.9)						0.6						4.2						64.3						4.2
Net income						(66.2)						(34.2)						(30.1)						64.3						(66.2)
Other comprehensive income before income tax effect						(5.5)						(24.2)						5.2						19.0						(5.5)
Income tax effect						(1.5)						—						—						—						(1.5)
Other comprehensive income						(7.0)						(24.2)						5.2						19.0						(7.0)
Total comprehensive income						$	(73.2)					$	(58.4)					$	(24.9)					$	83.3					$	(73.2)

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheets
As of December 31, 2020
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
Cash & cash equivalents						$	0.8					$	1.2					$	79.6					$	—					$	81.6
Restricted cash						—						0.8						1.9						—						2.7
Accounts receivable - net						1.0						47.8						2.2						—						51.0
Due from affiliates						1.2						9.1						—						—						10.3
Inventories						—						183.8						107.3						—						291.1
Derivative assets						3.0						—						3.4						—						6.4
Prepaid and other current assets						3.5						0.2						9.2						—						12.9
Total current assets						9.5						242.9						203.6						—						456.0
Property, plant and equipment - net						13.8						311.4						555.2						—						880.4
Investment in subsidiaries						495.5						65.4						—						(560.9)						—
Due from affiliates - less current portion						788.8						600.3						3.9						(1,391.3)						1.7
Other assets						34.2						4.3						23.0						—						61.5
TOTAL						1,341.8						1,224.3						785.7						(1,952.2)						1,399.6
Accounts payable, trade						4.6						60.3						41.2						—						106.1
Interest payable						15.0						—						—						—						15.0
Due to affiliates						0.0						10.4						11.3						—						21.7
Accrued and other current liabilities						17.7						23.7						18.0						—						59.4
Accrued employee benefits costs						1.9						7.8						0.6						—						10.3
Hawesville term loan - current						20.0						—						—						—						20.0
Industrial revenue bonds						—						7.8						—						—						7.8
Total current liabilities						59.2						110.0						71.1						—						240.3
Senior notes payable						243.1						—						—						—						243.1
Iceland revolving credit facility						—						—						45.0						—						45.0
Accrued pension benefits costs - less current portion						26.3						29.9						9.0						—						65.2
Accrued postretirement benefits costs - less current portion						1.0						98.5						2.0						—						101.5
Leases - right of use liabilities						6.4						—						17.9						—						24.3
Other liabilities						6.1						24.9						13.8						—						44.8
Due to affiliates - less current portion						453.6						374.1						563.7						(1,391.3)						0.1
Deferred taxes						—						0.4						88.8						—						89.2
Total noncurrent liabilities						736.5						527.8						740.2						(1,391.3)						613.2
Preferred stock						0.0						—						—						—						0.0
Common stock						1.0						0.0						0.1						(0.1)						1.0
Other shareholders' equity						545.1						586.5						(25.7)						(560.8)						545.1
Total shareholders' equity						546.1						586.5						(25.6)						(560.9)						546.1
TOTAL						$	1,341.8					$	1,224.3					$	785.7					$	(1,952.2)					$	1,399.6

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						0.0						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 - less current portion						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 - current						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
Other liabilities						3.5						22.2						16.7						—						42.4
Lease - right of use liabilities						5.5						0.4						16.9						—						22.8
Due to affiliates - less current portion						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 Statement of Cash Flows

Condensed Consolidating Statements of Cash Flows
For the year ended December 31, 2020
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
Net cash provided by (used in) operating activities						$	(23.9)					$	15.0					$	51.8					$	—					$	42.9
Purchase of property, plant and equipment						(0.8)						(10.4)						(2.2)						—						(13.4)
Proceeds from sale of property, plant and equipment						—						1.5						0.1						—						1.6
Intercompany transactions						6.5						(51.3)						1.3						43.5						—
Net cash provided by (used in) investing activities						5.7						(60.2)						(0.8)						43.5						(11.8)
Repayment of debt						(250.0)						—						—						—						(250.0)
Proceeds from issuance of debt						243.8						—						—						—						243.8
Borrowings under revolving credit facilities						213.9						—						45.0						—						258.9
Repayments under revolving credit facilities						(217.9)						—						—						—						(217.9)
Debt issuance cost						(1.1)						—						—						—						(1.1)
Debt retirement costs						(0.2)						—						—						—						(0.2)
Repayments under Hawesville term loan						(20.0)						—						—						—						(20.0)
Intercompany transactions						50.2						46.3						(53.0)						(43.5)						—
Net cash provided by (used in) financing activities						18.7						46.3						(8.0)						(43.5)						13.5
CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH						0.5						1.1						43.0						—						44.6
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						$	0.8					$	2.0					$	81.5					$	—					$	84.3

Condensed Consolidating Statements of Cash Flows
For the year ended December 31, 2019
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
Net cash provided by (used in) operating activities						$	(71.7)					$	51.4					$	38.0					$	—					$	17.7
Purchase of property, plant and equipment						(0.7)						(43.4)						(15.5)						—						(59.6)
Proceeds from sale of joint venture						—						—						20.8						—						20.8
Intercompany transactions						43.4						(10.0)						2.1						(35.5)						—
Net cash provided by (used in) investing activities						42.7						(53.4)						7.4						(35.5)						(38.8)
Borrowings under Hawesville term loan						40.0						—						—						—						40.0
Borrowings under revolving credit facilities						368.6						—						19.5						—						388.1
Repayments under revolving credit facilities						(387.8)						—						(19.5)						—						(407.3)
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						8.1						2.1						(45.7)						35.5						—
Net cash provided by (used in) financing activities						29.2						2.1						(45.7)						35.5						21.1
CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH						0.2						0.1						(0.3)						—						—
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						$	0.3					$	0.9					$	38.5					$	—					$	39.7

Condensed Consolidating Statements of Cash Flows
For the year ended December 31, 2018
						The Company						Combined Guarantor Subsidiaries						Combined Non-Guarantor Subsidiaries						Consolidating Adjustments						Total Consolidated
Net cash provided by operating activities						$	(53.0)					$	(19.5)					$	3.4					$	—					$	(69.1)
Purchase of property, plant and equipment						(4.4)						(65.1)						(13.5)						—						(83.0)
Proceeds from sale of property, plant and equipment						—						—						0.1						—						0.1
Intercompany transactions						21.6						54.7						2.2						(78.5)						—
Net cash used in investing activities						17.2						(10.4)						(11.2)						(78.5)						(82.9)
Borrowings under revolving credit facilities						120.1						—						—						—						120.1
Repayments under revolving credit facilities						(96.8)						—						—						—						(96.8)
Issuance of common stock						0.4						—						—						—						0.4
Intercompany transactions						(52.1)						30.0						(56.4)						78.5						—
Net cash used in financing activities						(28.4)						30.0						(56.4)						78.5						23.7
CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH						(64.2)						0.1						(64.2)						—						(128.3)
Cash, cash equivalents, and restricted cash, beginning of period						64.3						0.7						103.0						—						168.0
Cash, cash equivalents, and restricted cash, end of period						$	0.1					$	0.8					$	38.8					$	—					$	39.7

X

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No definition available.

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X

- Definition

Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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- Definition

Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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- Definition

Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 3
-Paragraph i
-Subsection 10

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