Company: CENX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050200
Chunk: 44

Company: CENTURY ALUMINUM CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
 - inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.•Level 3 Inputs - unobservable inputs for the asset or liability.Recurring Fair Value MeasurementsAs of September 30, 2025Level 1Level 2Level 3TotalASSETS:Cash equivalents$124.8 $— $— $124.8 Trust assets(1)0.6 — — 0.6 Derivative instruments— 5.2 — 5.2 TOTAL$125.4 $5.2 $— $130.6 LIABILITIES:Derivative instruments$— $41.5 $— $41.5 TOTAL$— $41.5 $— $41.5 

18

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

Recurring Fair Value MeasurementsAs of December 31, 2024Level 1Level 2Level 3TotalASSETS:Cash equivalents$7.9 $— $— $7.9 Trust assets(1)0.3 — — 0.3 Derivative instruments— 4.5 — 4.5 TOTAL$8.2 $4.5 $— $12.7 LIABILITIES:Derivative instruments$— $4.4 $— $4.4 TOTAL$— $4.4 $— $4.4 (1)Trust assets are currently invested in money market funds. These trust assets are held to fund the non-qualified supplemental executive pension benefit obligations for certain of our officers.The following section describes the valuation techniques or inputs for fair value measurements categorized within Level 2 of the fair value hierarchy: Level 2 Fair Value Measurements:Asset / LiabilityValuation TechniquesInputsLME forward financial sales contractsDiscounted cash flowsQuoted LME forward market, Secured Overnight Financing Rate ("SOFR") discount rateMidwest Premium ("MWP") forward financial sales contractsDiscounted cash flowsQuoted MWP forward market, SOFR discount rateFixed for floating swapsDiscounted cash flowsQuoted LME forward market, quoted MWP forward marketIndiana Hub power price swapsDiscounted cash flowsQuoted Indiana Hub forward market