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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ (175.1) $ (29.6)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Unrealized (gain) loss on derivative instruments 127.5 (3.6)
Lower of cost or NRV inventory adjustment 0.0 37.1
Depreciation and amortization 41.8 40.4
Loss on early extinguishment of debt 24.7 0.0
Change in deferred tax benefit (47.6) (0.5)
Other non-cash items - net 4.2 2.4
Change in operating assets and liabilities:    
Accounts receivable - net (16.0) 34.1
Due from affiliates (16.6) 21.6
Inventories (40.4) 8.4
Prepaid and other current assets (4.3) (1.1)
Accounts payable, trade 9.7 (10.0)
Due to affiliates 9.8 (31.0)
Accrued and other current liabilities (1.3) 0.1
Other - net (4.3) 3.3
Net cash provided by (used in) operating activities (87.9) 71.6
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (25.9) (9.6)
Proceeds from sales of property, plant & equipment 0.0 0.1
Net cash provided by (used in) investing activities (25.9) (9.5)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of Senior Notes due 2025 (250.0) 0.0
Early redemption and tender premiums paid (18.1) 0.0
Proceeds from issuance of Senior Notes due 2028 250.0 0.0
Proceeds from issuance of Convertible Senior Notes 86.3 0.0
Repayments on Hawesville term loan (10.0) (10.0)
Borrowings under revolving credit facilities 426.9 122.4
Repayments under revolving credit facilities (432.3) (36.4)
Debt issuance costs (7.4) 0.0
Purchases of capped calls related to Convertible Senior Notes (5.7) 0.0
Net cash provided by (used in) financing activities 39.7 76.0
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (74.1) 138.1
Cash, cash equivalents and restricted cash, beginning of period 84.3 39.7
Cash, cash equivalents and restricted cash, end of period 10.2 177.8
Cash paid for:    
Interest 25.7 11.0
Taxes 0.0 0.1
Non-cash investing activities:    
Capital expenditures $ 2.8 $ 0.6