Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 75

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 75
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Our statements of cash flows are summarized below:

Six months ended June 30,(in millions)20252024Net cash provided by (used in) operating activities$80.2 $(3.3)Net cash used in investing activities(33.6)(44.3)Net cash (used in) provided by financing activities(38.8)0.1 Change in cash, cash equivalents and restricted cash$7.8 $(47.5)

The change in net cash provided by operating activities during the six months ended June 30, 2025 compared to net cash used in operating activities for the six months ended June 30, 2024 was primarily due to lower cash outflows from accounts payable associated with the timing of payments for alumina and higher cash inflows from inventories attributable to higher shipments in the current period, partially offset by lower cash inflows from accounts receivable associated with higher realized prices of outstanding receipts from sales of aluminum and alumina.

The decrease in net cash used in investing activities during the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was primarily due to higher proceeds from our joint venture partner to fund the construction of  co-tenancy assets.

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The change in net cash used in financing activities during the six months ended June 30, 2025 compared to net cash provided by financing activities in the six months ended June 30, 2024 was primarily due to net repayments on our revolving credit facilities and repayments on our Grundartangi Casthouse Facility. 

Share Repurchase Program

In 2011, our Board of Directors approved a $60.0 million common stock repurchase program and subsequently increased this program by $70.0 million in the first quarter of 2015. Under the program, Century is authorized to repurchase up to $130.0 million of our outstanding shares of common stock, from time to time, on the open market at prevailing market prices, in block trades or otherwise. The timing and amount of any shares repurchased will be determined by our management based on its evaluation of market conditions, the trading price of our common stock and other factors. We made no repurchases during the three months ended June 30, 2025 or during the years ended 2024, 2023, and 2022. As of June 30, 2025, we had $43.7 million remaining under the repurchase program authorization. The rep