Company: CENX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000949157-25-000035
Chunk: 65

Company: CENTURY ALUMINUM CO
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 65
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 favorable metal price realization of $63.5 million, favorable regional price realization of $27.6 

30

million, partially offset by higher power price realization of $26.7 million and higher operating expenses of $20.3 million including labor costs associated with higher headcounts, increased maintenance costs, and ramp up expenses for the completed Grundartangi casthouse.

Selling, general and administrative expenses

Selling, general and administrative expenses decreased by $2.3 million for the three months ended March 31, 2025, compared to the three months ended December 31, 2024, primarily driven by decreased share-based compensation costs, partially offset by annual incentive compensation during the period.

Selling, general and administrative expenses decreased by $1.6 million for the three months ended March 31, 2025, compared to the three months ended March 31, 2024, primarily driven by a decrease in share-based compensation costs.

Net gain (loss) on forward and derivative contracts - nonaffiliates

Net gain (loss) on forward and derivative contracts - nonaffiliates decreased by $8.1 million for the three months ended March 31, 2025, compared to the three months ended December 31, 2024. The difference was primarily driven by fluctuations in the forward prices and volume of contracts settled.

Net gain (loss) on forward and derivative contracts - nonaffiliates decreased by $8.8 million for the three months ended March 31, 2025, as compared to the three months ended March 31, 2024. The difference was primarily driven by fluctuations in the forward prices and volume of contracts settled.

Net gain (loss) on forward and derivative contracts - affiliates

Net gain on forward and derivative contracts - affiliates was zero for the three months ended March 31, 2025, as there were no affiliated party contracts executed during the quarter, as compared to a net loss of $0.1 million for the three months ended December 31, 2024. We realized a net gain of $4.0 million for the three months ended March 31, 2024, primarily driven by unrealized gains on LME hedges.

Bargain purchase gain

We finalized the purchase accounting as of March 31, 2024 related to the acquisition of General Alumina Holdings Limited and subsidiaries, which was acquired on May 2, 2023. We recognized a bargain purchase gain of $245.9 million