Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 100

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 100
---
 the policies or procedures may deteriorate.

Material Weaknesses

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis. The following material weaknesses have been identified and included in management's assessment:

52

Management identified a material weakness related to the failure to design and implement appropriate information technology controls in the areas of logical access controls including provisioning, deprovisioning, privileged access, user access review, application changes and monitoring relating to its Jamalco JV.

Management identified that the Company's Jamalco JV failed to design and implement appropriate business process level controls, including controls to address the completeness and accuracy of information derived from its affected information technology systems, which resulted in a material weakness related to reconciliation controls and insufficient review controls related to inventories, accounts payable, cost of goods sold and property, plant, and equipment.   

These material weaknesses were considered in determining the nature, timing, and extent of audit tests applied in our audit of the consolidated financial statements as of and for the year ended December 31, 2024, of the Company, and this report does not affect our report on such financial statements.

/s/ Deloitte & Touche LLP 

Chicago, Illinois 

March 3, 2025 

53

CENTURY ALUMINUM COMPANYCONSOLIDATED STATEMENTS OF OPERATIONS(in millions, except per share amounts) Year Ended December 31, 202420232022NET SALES:   Related parties$1,312.1 $1,612.1 $1,671.1 Other customers908.2 573.3 1,106.2 Total net sales2,220.3 2,185.4 2,777.3 Cost of goods sold (1)2,035.3 2,093.5 2,730.6 Gross profit185.0 91.9 46.7 Selling, general and administrative expenses56.8 44.3 37.5 Asset impairment— — 159.4 Other operating expense - net6.8 15.8 — Operating income (loss) 121.4 31.8 (150.2)Interest expense - affiliates(6.7)(1.8)— Interest expense(36.4)(33