Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Our common stock trades on the NASDAQ Global Market under the symbol: CENX.
Holders
As of February 18, 2021, there were 94 holders of record of our common stock, which does not include the number of beneficial owners whose common stock was held in street name or through fiduciaries.
Dividend Information
We did not declare dividends on our common stock in 2020 or 2019. We do not plan to declare cash dividends in the foreseeable future. Any declaration of dividends is at the discretion of our Board of Directors.
Our agreements governing our existing debt contain restrictions which limit our ability to pay dividends. Additional information about the terms of our long-term borrowing agreements is available at Note 6. Debt to the consolidated financial statements included herein.
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Stock Performance Graph
The following line graph compares Century Aluminum Company’s cumulative total return to stockholders with the cumulative total return of the S&P 500 Index and the Dow Jones U.S. Aluminum Total Return Index. These comparisons assume the investment of $100 on December 31, 2015 and the reinvestment of dividends.
Comparison of Cumulative Total Return to Stockholders from December 31, 2015 through December 31, 2020
As of December 31, 2015 2016 2017 2018 2019 2020
Century Aluminum Company $ 100 $ 194 $ 444 $ 165 $ 170 $ 250
Dow Jones U.S. Aluminum Total Return Index (1)
100 111 212 105 85 97
S&P 500 Index 100 112 136 130 171 203
(1) The Dow Jones U.S. Aluminum Total Return Index replaces the Morningstar Aluminum Index in this analysis and going forward, as the latter data is no longer accessible. The latter index has been included with data through 2019.
Issuer Purchases of Equity Securities during the three months ended December 31, 2020
There were no issuer purchases of equity securities during the three months ended December 31, 2020. See Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources Other Items for a discussion of the current stock repurchase authorization.
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Item 6. Selected Financial Data
The following table presents selected consolidated financial data for each of the last five fiscal years and should be read in conjunction with Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data and notes thereto.
Year Ended December 31,
2020 (6)
2019 (5)
2018 2017 (4)
2016 (1) (4)
(dollars in millions, except per share amounts)
Net sales $ 1,605.1 $ 1,836.6 $ 1,893.2 $ 1,589.1 $ 1,319.1
Gross profit (loss) (36.5) (23.9) (22.9) 131.3 (6.1)
Operating income (loss) (80.5) (72.1) (59.0) 97.2 (227.9)
Net income (loss) (123.3) (80.8) (66.2) 48.6 (252.4)
Earnings (loss) per share:
Basic and Diluted $ (1.38) $ (0.91) $ (0.76) $ 0.51 $ (2.90)
Total assets $ 1,399.6 $ 1,499.7 $ 1,537.5 $ 1,581.6 $ 1,540.3
Total debt (2)
315.9 301.0 279.7 256.0 255.5
Long-term debt obligations (3)
288.1 269.2 248.6 248.2 247.7
Other information
Primary aluminum shipments, in tonnes:
Direct 811,176 811,244 749,850 743,198 687,700
Toll — — — — 46,125
Average price per tonne:
Direct shipments $ 1,918 $ 2,184 $ 2,505 $ 2,126 $ 1,825
Toll shipments — — — — 1,172
LME 1,702 1,792 2,110 1,968 1,604
Midwest premium 267 396 420 199 169
European Duty Paid premium 126 142 164 148 132
(1) In 2016, the Helguvik project in Iceland was determined to be impaired and charges of $152.2 million were recorded.
(2) Total debt includes all long-term debt obligations and any debt classified as short-term obligations, net of any debt discounts, including current portion of long-term debt, current portion of the Hawesville Term Loan, borrowings under our revolving credit facilities and the IRBs.
(3) Long-term debt obligations are all payment obligations under long-term borrowing arrangements, excluding the current portion of the long-term debt.
(4) As adjusted due to the adoption of ASU 2017- 07 "Compensation- Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Benefit Cost."
(5) In 2019, we recognized a loss of $4.3 million related to the sale of our 40% interest in Baise Haohai Carbon Co., Ltd. ("BHH"). This is reflected in 2019 net income (loss).
(6) In 2020, we recognized a $1.2 million loss on the early extinguishment of our 7.5% senior secured notes due June 2021. This is reflected in 2020 net income (loss).
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