Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 29

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 liabilities that were accounted for at fair value and not designated as cash flow hedges as of March 31, 2025 and December 31, 2024, respectively:Asset Fair ValueMarch 31, 2025December 31, 2024Commodity contracts(1)$8.1 $4.5 Liability Fair ValueMarch 31, 2025December 31, 2024Commodity contracts(1)$11.4 $4.4 (1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, Indy Hub power price swaps, fixed for floating swaps, and HFO price swaps. At March 31, 2025, and December 31, 2024, there were no commodity contracts with Glencore.The following table summarizes the net (loss) gain on forward and derivative contracts:Three months endedMarch 31,20252024Commodity contracts(1)$(5.5)$7.3 Foreign exchange contracts— 0.1    Total$(5.5)$7.4 (1)For the three months ended March 31, 2025, there were no forward and derivative contracts with Glencore. For the three months ended March 31, 2024, $4.0 million of the net gain was with Glencore.

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Table of ContentsCENTURY ALUMINUM COMPANYCondensed Notes to the Consolidated Financial Statements (continued)(amounts in millions, except share and per share amounts)(Unaudited)

11.    DebtMarch 31, 2025December 31, 2024Debt classified as current liabilities:Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly (variable interest rates (not to exceed 12%))(1)$7.8 $7.8 U.S. Revolving Credit Facility(2)2.0 20.0 Iceland Revolving Credit Facility(3)9.5 34.0 Grundartangi Casthouse Facility(4)9.0 9.0 Debt classified as non-current liabilities:Grundartangi Casthouse Facility, net of financing fees of $1.0 million at March 31, 2025(4)110.9 114.2 Vlissingen Credit Facility(5)10.0 10.0 7.5%