Debt (Tables)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Schedule of Debt

Debt

	September 30, 2012		December 31, 2011
Debt classified as current liabilities:
Hancock County industrial revenue bonds due 2028, interest payable quarterly (variable interest rates (not to exceed 12%))(1)	$	7,815	$	7,815
Debt classified as non-current liabilities:
8.0% senior secured notes payable due May 15, 2014, net of debt discount of $1,903 and $2,695, respectively, interest payable semiannually	247,700		246,909
7.5% senior unsecured notes payable due August 15, 2014, interest payable semiannually	2,603		2,603
E.ON contingent obligation, principal and accrued interest, contingently payable monthly, annual interest rate of 10.94% (2)	15,016		13,958
TOTAL	$	273,134	$	271,285

(1) The IRBs are classified as current liabilities because they are remarketed weekly and could be required to be repaid upon demand if there is a failed remarketing. The IRB interest rate at September 30, 2012 was 0.38%.

(2) E.ON contingent obligation principal and interest payments are payable based on CAKY’s operating level and the LME price for primary aluminum. See E.ON contingent obligation below.

Schedule of Line of Credit Facilities

Status of our revolving credit facility:

	September 30, 2012
Senior secured revolving credit facility amount	$	100,000
Borrowing availability, net of outstanding letters of credit	42,335
Outstanding borrowings on revolving credit facility	—
Letter of credit sub-facility amount	50,000
Outstanding letters of credit issued under the revolving credit facility	46,019