Company: CENX
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0000949157-25-000024
Chunk: 139

Company: CENTURY ALUMINUM CO
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 139
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 or that are otherwise readily marketable, are to be distributed to the holders of our common stock.Stock Repurchase ProgramIn 2011, our Board of Directors authorized a $60.0 million stock repurchase program and during the first quarter of 2015, our Board of Directors increased the size of the program by $70.0 million. Under the program, Century is authorized to repurchase up to $130.0 million of our outstanding shares of common stock, from time to time, on the open market at prevailing market prices, in block trades or otherwise. The timing and amount of any shares repurchased will be determined by our management based on its evaluation of market conditions, the trading price of our common stock and other factors. The stock repurchase program may be suspended or discontinued at any time.Shares of common stock repurchased are recorded at cost as treasury stock and result in a reduction of shareholders’ equity in the Consolidated Balance Sheets. From time to time, treasury shares may be reissued as contributions to our employee benefit plans and for the conversion of preferred stock. When shares are reissued, we use an average cost method for determining cost. The difference between the cost of the shares and the reissuance price is added to or deducted from additional paid-in capital.

Through December 31, 2024, we repurchased 7,186,521 shares of common stock for an aggregate purchase price of $86.3 million. We have made no repurchases since April 2015 and have approximately $43.7 million remaining under the repurchase program authorization as of December 31, 2024. 

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CENTURY ALUMINUM COMPANYNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS(amounts in millions, except share and per share amounts)

10.  Inventories

Inventories, at December 31, consist of the following: 20242023Raw materials$180.8 $162.5 Work-in-process52.1 42.9 Finished goods74.6 46.3 Operating and other supplies231.5 225.3 Inventories$539.0 $477.0 

11. Property, Plant and Equipment

Property, plant and equipment, at December 31, consist of the following: 20242023Land and improvements$104.3 $105.1 Mineral Reserves34.7 35.8 Buildings and improvements404.3 328.