XML 17 R5.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 25.7 $ 244.7
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Unrealized loss (gain) on derivative instruments 3.0 (6.4)
Depreciation, depletion and amortization 20.7 19.9
Change in deferred tax provision 1.2 0.4
Bargain purchase gain 0.0 (245.9)
Other non-cash items - net 0.0 (1.5)
Change in operating assets and liabilities:    
Accounts receivable - net (12.5) (1.4)
Non-trade receivables 15.4 5.2
Manufacturing credit receivable (20.7) (12.6)
Due from affiliates 16.7 (2.6)
Inventories (0.1) (7.2)
Prepaid and other current assets 4.0 0.2
Accounts payable, trade 20.8 (33.8)
Due to affiliates 12.2 33.6
Accrued and other current liabilities (13.9) (8.4)
Other - net (0.2) 1.0
Net cash provided by (used in) operating activities 72.3 (14.8)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property, plant and equipment (21.2) (29.7)
Proceeds from co-tenancy assets at Jamalco JV 5.7 0.0
Net cash used in investing activities (15.5) (29.7)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net cash (used in) provided by financing activities (44.8) 49.2
CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 12.0 4.7
Cash, cash equivalents and restricted cash, beginning of period 35.7 90.3
Cash, cash equivalents and restricted cash, end of period 47.7 95.0
Cash paid for:    
Interest 4.9 2.9
Taxes, net of refunds 2.3 1.1
Non-cash investing activities:    
Capital expenditures 4.1 6.7
Capitalized interest 0.0 2.4
Distribution of property, plant and equipment to NCI 0.6 0.0
U.S. and Iceland Revolving Credit Facilities    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under revolving credit facilities 257.6 155.9
Repayments under facilities (300.1) (130.5)
Iceland Term Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments under facilities 0.0 (1.2)
Casthouse Facility    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings under Grundartangi casthouse debt facility 0.0 25.0
Repayments under Grundartangi casthouse debt facility $ (2.3) $ 0.0