Company: CENX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050200
Chunk: 46

Company: CENTURY ALUMINUM CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 in the event the market value of our position exceeds the margin threshold limit of our master agreement with the counterparty. As of September 30, 2025 and December 31, 2024, the Company had no recorded restricted cash as collateral related to open derivative contracts under the master arrangements with our counterparties.The following tables set forth the Company's derivative assets and liabilities that were accounted for at fair value and not designated as cash flow hedges as of September 30, 2025 and December 31, 2024, respectively:Asset Fair ValueSeptember 30, 2025December 31, 2024Commodity contracts(1)$5.2 $4.5 Liability Fair ValueSeptember 30, 2025December 31, 2024Commodity contracts(1)$41.5 $4.4 (1)Commodity contracts reflect our outstanding LME and MWP forward financial sales contracts, Indiana Hub power price swaps, fixed for floating swaps, and HFO price swaps. At September 30, 2025, and December 31, 2024, there were no commodity contracts with Glencore.The following table summarizes the net loss on forward and derivative contracts:Three months endedSeptember 30,Nine months endedSeptember 30,2025202420252024Commodity contracts(1)$(30.2)$(4.0)$(51.2)$(0.5)Foreign exchange contracts— — — (0.1)   Total$(30.2)$(4.0)$(51.2)$(0.6)(1)For the three and nine months ended September 30, 2025, there were no forward and derivative contracts with Glencore. For the three and nine months ended September 30, 2024, $1.2 million of the net loss and a $3.7 million gain within the net loss, respectively, was with Glencore.

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Table of ContentsCENTURY ALUMINUM COMPANYCondensed Notes to the Consolidated Financial Statements (continued)(amounts in millions, except share and per share amounts)(Unaudited)

11.    DebtSeptember 30, 2025December 31, 2024Debt classified as current liabilities:Hancock County industrial revenue bonds ("IRBs") due April 1, 2028, interest payable quarterly (variable interest rates (not to exceed 12%))(1)$