Company: CENX
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050200
Chunk: 59

Company: CENTURY ALUMINUM CO
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 59
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,589.4 Segment Cost of goods sold(1),(2)(557.6)(480.9)(1,723.2)(1,482.4)IRA Credit(1),(3)24.7 47.4 66.5 70.0 Lower of cost or NRV inventory adjustment(1),(4)(0.7)— 1.2 7.3 Property and equipment expense(1),(5)(21.3)(23.8)(64.6)(65.6)Selling, general and administrative expenses(17.9)(15.6)(44.4)(42.0)Other operating expenses - net(1.1)(2.4)(4.6)(4.6)Interest expense - nonaffiliates(11.5)(10.1)(31.3)(26.3)Interest expense - affiliates(1.5)(1.8)(5.2)(5.1)Interest income2.8 0.4 6.5 1.7 Net loss on forward and derivative contracts - nonaffiliates(30.2)(2.8)(51.2)(4.3)Net (loss) gain on forward and derivative contracts - affiliates— (1.2)— 3.7 Loss on early extinguishment of debt(6.2)— (6.2)— Bargain purchase gain— — — 245.9 Other loss - net(2.2)(4.0)(11.3)(4.4)Income tax benefit (expense)1.1 (2.0)0.8 (3.0)Net income$10.6 $42.3 $27.2 $280.3 (1)Indicates a component of Cost of goods sold.(2)Includes raw materials, labor, energy, freight costs, FIFO inventory adjustments and other direct cost of goods sold.(3)Advanced production credit related to Section 45X of the IRA.(4)Includes inventory revaluation to lower of cost or net realizable value and changes in inventory reserve.(5)Represents the depreciation expenses and expenses related to leased assets that are directly related to the cost of goods sold.

15.    Variable Interest EntityThe Company consolidates Jamalco, a bauxite mining and alumina refinery in Jamaica, under the variable interest entity ("VIE") model. Jamalco lacks sufficient equity investment