Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 55

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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sidiaries ("Guarantors") is presented on a combined basis. Intercompany balances and transactions between the Company and the Guarantors have been eliminated and the summarized financial information does not reflect investments of the Company or the Guarantors in the Non-Guarantor Subsidiaries. The Company’s or Guarantors’ amounts due from, amounts due to, and transactions with the Non-Guarantor Subsidiaries s are disclosed below:

March 31, 2025December 31, 2024Current assets$430.0 $414.0 Non-current assets713.1698.4Current liabilities240.2247.1Non-current liabilities503.4490.4

Three months ended March 31, 2025Net sales$538.4 Gross profit40.5 Income before income taxes22.7 Net income29.7 

As of March 31, 2025 and December 31, 2024, an intercompany receivable due to the Company and Guarantors from the Non-Guarantor Subsidiaries totaled $46.3 million and $40.4 million, respectively, and an intercompany non-current loan due to the Company from the Non-Guarantor Subsidiaries totaled $365.2 million and $358.1 million, respectively. 

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 March 31, 2025 or during the years ended 2024, 2023, and 2022. As of March 31, 2025, we had $43.7 million remaining under the repurchase program authorization. The repurchase program may be expanded, suspended or discontinued by our Board, in its sole discretion, at any time.

Capital Resources and Commitments

We intend to finance our future capital expenditures from available cash, cash flows from