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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 55.1 $ (175.1)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Unrealized (gain) loss on derivative instruments (217.5) 127.5
Lower of cost or NRV inventory adjustment 52.8 0.0
Depreciation and amortization 42.1 41.8
Loss on early extinguishment of debt 0.0 24.7
Deferred tax provision (benefit) 41.9 (47.6)
Asset impairment 159.4 0.0
Other non-cash items -- net (9.0) 4.2
Change in operating assets and liabilities:    
Accounts receivable -- net (41.6) (16.0)
Due from affiliates (8.7) (16.6)
Inventories (43.0) (40.4)
Prepaid and other current assets 1.1 (4.3)
Accounts payable, trade 47.5 9.7
Due to affiliates (28.8) 9.8
Accrued and other current liabilities 16.6 (1.3)
Other -- net 0.7 (4.3)
Net cash provided by (used in) operating activities 68.6 (87.9)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (51.8) (25.9)
Proceeds from sales of property, plant & equipment 0.1 0.0
Net cash used in investing activities (51.7) (25.9)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayment of Senior Notes due 2025 0.0 (250.0)
Early redemption and tender premiums paid 0.0 (18.1)
Proceeds from issuance of Senior Notes due 2028 0.0 250.0
Proceeds from issuance of Convertible Senior Notes 0.0 86.3
Repayments on Hawesville term loan 0.0 (10.0)
Borrowings under revolving credit facilities 596.4 426.9
Repayments under revolving credit facilities (660.0) (432.3)
Debt issuance costs (1.5) (7.4)
Purchases of capped calls related to Convertible Senior Notes 0.0 (5.7)
Borrowings under Grundartangi casthouse debt facility 40.0 0.0
Net cash provided by (used in) financing activities (25.1) 39.7
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (8.2) (74.1)
Cash, cash equivalents and restricted cash, beginning of period 40.7 84.3
Cash, cash equivalents and restricted cash, end of period 32.5 10.2
Cash paid for:    
Interest 13.1 25.7
Taxes 1.2 0.0
Non-cash investing activities:    
Capital expenditures 2.6 2.8
Capitalized interest $ 2.9 $ 0.0