Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 120

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 120
---
66

CENTURY ALUMINUM COMPANYNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(amounts in millions, except share and per share amounts)

In December 2024, the Amended Agreement was amended to extend the repurchase window from December 27, 2024 to August 22, 2025 for 370,700 Carbon Credits. The repurchase price was revised to €69.16 per Carbon Credit, for an aggregate amount of €25.6 million. Due to the repurchase element of these transactions, the Company retains substantially all of the remaining benefits of the assets and has accounted for the transaction as a financing arrangement in accordance with Topic 606, Revenue from Contracts with Customers ("ASC 606").

5.  Revenue

We disaggregate our revenue by geographical region as follows:Year ended December 31,Net Sales202420232022United States$1,427.0 $1,358.6 $1,737.2 Iceland793.3 826.8 1,040.1 Total$2,220.3 $2,185.4 $2,777.3 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 years ended December 31, 2024, 2023 and 2022.Year ended December 31,Net Sales202420232022Aluminum$1,882.1 $1,972.6 $2,750.3 Alumina338.2 212.8 27.0 Total$2,220.3 $2,185.4 $2,777.3 We enter into contracts to sell mainly primary aluminum to our customers. Revenue is recognized when our performance obligations with our customers are satisfied. Our obligations under the contracts are satisfied when we transfer control of our primary aluminum to our customers which is generally upon shipment or delivery to customer directed locations. The amount of consideration we receive, thus the revenue we recognize, is a function of volume delivered, market price of primary aluminum, which is based on the LME, plus regional premiums and any value-added product premiums or alumina which is 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