Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 22

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 based on the alumina pricing index, plus Atlantic differential.The payment terms and conditions in our contracts vary and are not significant to our revenue. We complete an appropriate credit evaluation for each customer at contract inception. Customer payments are due in arrears and are recognized as accounts receivable - net and due from affiliates in our Consolidated Balance Sheets.In connection with our sales agreements with certain customers, including Glencore, we invoice the customer prior to physical shipment of goods for a majority of production generated from each of our U.S. domestic smelters. For those sales, revenue is recognized only when the customer has specifically requested such treatment and has made a commitment to purchase the product. The goods must be complete, ready for shipment and separated from other inventory with control over the goods passing to the customer. We must retain no further performance obligations.

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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)

Contract liabilities are recorded when cash payments are received or due in advance of performance. Amounts recognized in Due to affiliates was $50.3 million and $41.2 million, as of March 31, 2025 and December 31, 2024, respectively.The table below shows the amount of net sales to external customers for each of the Company's product categories which accounted for 10% or more of consolidated net sales in either period for the three months ended March 31, 2025 and 2024. Net SalesThree months ended March 31,20252024Aluminum$535.8 $449.4 Alumina98.1 40.1 Total$633.9 $489.5 Our net sales are attributed to geographic area based on the location of the selling entity. Included in the consolidated financial statements are the following amounts related to geographic locations:Three months endedMarch 31, 20252024Net sales: (1)  United States$413.8 $300.0 Iceland220.1 189.5 Total Net sales$633.9 $489.5 

(1)Includes sales of primary aluminum, scrap aluminum and alumina, and purchased aluminum and alumina.

4.    Income TaxesFor the three months ended March 31, 2025 and 2024, we recorded income tax expense of $1.6 million and $0.5 million, respectively