Company: CENX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001628280-25-038882
Chunk: 7

Company: CENTURY ALUMINUM CO
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 7
---
 - nonaffiliates

Net (loss) gain on forward and derivative contracts - nonaffiliates decreased by $10.2 million for the three months ended June 30, 2025, compared to the three months ended March 31, 2025. The difference was primarily driven by fluctuations in the forward prices.

Net (loss) gain on forward and derivative contracts - nonaffiliates decreased by $21.9 million to a loss of $21.0 million for the six months ended June 30, 2025 as compared to a gain of $0.9 million for the six months ended June 30, 2024. The difference was primarily driven by fluctuations in the forward prices.

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

Net (loss) gain on forward and derivative contracts - affiliates was zero for the three months ended June 30, 2025 and March 31, 2025,.as there were no related party contracts executed during either period. We realized a net gain of $2.5 million for the six months ended June 30, 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 for the six months ended June 30, 2024. 

Income tax benefit (expense)

Income tax changed to a $1.3 million benefit for the three months ended June 30, 2025, compared to $1.6 million expense for the three months ended March 31, 2025, primarily driven by changes in the jurisdictional mix of earnings on a quarter-over-quarter basis.

Income tax expense decreased to $0.3 million for the six months ended June 30, 2025, compared to $1.0 million for the six months ended June 30, 2024, primarily driven by changes in the jurisdictional mix of earnings on a year-over-year basis. See Note 4. Income Taxes to the consolidated financial statements included herein for additional information.

Liquidity and Capital Resources

Liquidity

Our principal sources of liquidity are available cash and cash flows from operations. We also have access to our existing U.S. and Iceland revolving credit facilities (collectively, the "revolving credit facilities