Company: CENX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050200
Chunk: 10

Company: CENTURY ALUMINUM CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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, 2030. With proceeds of the 2032 Notes, we redeemed the 2028 Notes at a redemption price of 101.875% for a total redemption price, including accrued and unpaid interest, of approximately $261.1 million. We applied the remaining net proceeds from the 2032 Notes offering to pay down our existing credit facilities including the repayment of all $116.4 million in outstanding borrowings and $1.9 million in interest under the Grundartangi Casthouse Facility, which was repaid on October 27, 2025.

See Note 11. Debt and Note 16. Subsequent Events to the consolidated financial statements included herein for additional information on our debt.

Available Cash

Our available cash and cash equivalents balance at September 30, 2025 was $151.4 million compared to $32.9 million at December 31, 2024. 

34

Sources and Uses of Cash

Our statements of cash flows are summarized below:

Nine months ended September 30,(in millions)20252024Net cash provided by operating activities$82.2 $16.8 Net cash used in investing activities(49.7)(66.8)Net cash provided by (used in) financing activities84.6 (4.9)Change in cash, cash equivalents and restricted cash$117.1 $(54.9)

The increase in net cash provided by operating activities during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 was primarily due to changes in inventories attributable to higher inventory build in the prior period related to the completed Grundartangi casthouse, partially offset by higher raw material costs for alumina in the first half of the current period. This is offset by increased accounts receivable associated with higher realized prices of outstanding receipts from sales of aluminum.

The decrease in net cash used in investing activities during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 was primarily due to higher proceeds from our joint venture partner to fund the construction of  co-tenancy assets.

The change in net cash provided by financing activities during the nine months ended September 30, 2025 compared to net cash used in financing activities in the nine months ended September 30, 2024 was primarily due to proceeds from the issuance of the 2032 Notes and net proceeds from the sale of carbon credits, partially offset by the early redemption