Supplemental Guarantor Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2011

Supplemental Guarantor Condensed Consolidating Financial Statements [Abstract]


	For the Three Months Ended June 30, 2011
						Tenneco Inc.
	Guarantor		Nonguarantor			(Parent			Reclass &
	Subsidiaries		Subsidiaries			Company)			Elims			Consolidated
						(Millions)

Revenues
Net sales and operating revenues —
External	$	797	$	1,091		$	—		$	—		$	1,888
Affiliated companies		40		126			—			(166	)		—

		837		1,217			—			(166	)		1,888

Costs and expenses
Cost of sales (exclusive of depreciation and amortization shown below)		721		1,010			—			(166	)		1,565
Engineering, research, and development		13		22			—			—			35
Selling, general, and administrative		39		79			—			—			118
Depreciation and amortization of other intangibles		19		35			—			—			54

		792		1,146			—			(166	)		1,772

Other income (expense)
Loss on sale of receivables		—		(2	)		—			—			(2	)
Other income (loss)		33		1			—			(35	)		(1	)

		33		(1	)		—			(35	)		(3	)

Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies		78		70			—			(35	)		113

Interest expense —
External (net of interest capitalized)		—		1			25			—			26
Affiliated companies (net of interest income)		53		(19	)		(34	)		—			—
Income tax expense		4		26			—			—			30
Equity in net income (loss) from affiliated companies		53		—			41			(94	)		—

Net Income		74		62			50			(129	)		57

Less: Net income attributable to noncontrolling interests		—		7			—			—			7

Net income (loss) attributable to Tenneco Inc.	$	74	$	55		$	50		$	(129	)	$	50


	For the Three Months Ended June 30, 2010
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass &
	Subsidiaries			Subsidiaries			Company)			Elims			Consolidated
							(Millions)

Revenues
Net sales and operating revenues —
External	$	677		$	825		$	—		$	—		$	1,502
Affiliated companies		31			126			—			(157	)		—

		708			951			—			(157	)		1,502

Costs and expenses
Cost of sales (exclusive of depreciation and amortization shown below)		533			846			—			(157	)		1,222
Engineering, research, and development		17			16			—			—			33
Selling, general, and administrative		36			60			2			—			98
Depreciation and amortization of other intangibles		21			32			—			—			53

		607			954			2			(157	)		1,406

Other income (expense)
Loss on sale of receivables		—			(1	)		—			—			(1	)
Other income (loss)		9			3			1			(15	)		(2	)

		9			2			1			(15	)		(3	)

Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies		110			(1	)		(1	)		(15	)		93

Interest expense —
External (net of interest capitalized)		(1	)		3			30			—			32
Affiliated companies (net of interest income)		50			(18	)		(32	)		—			—
Income tax expense (benefit)		3			12			—			—			15
Equity in net income (loss) from affiliated companies		(8	)		—			39			(31	)		—

Net Income (loss)		50			2			40			(46	)		46

Less: Net income (loss) attributable to noncontrolling interests		—			6			—			—			6

Net income (loss) attributable to Tenneco Inc.	$	50		$	(4	)	$	40		$	(46	)	$	40


	For the Six Months Ended June 30, 2011
						Tenneco Inc.
	Guarantor		Nonguarantor			(Parent			Reclass &
	Subsidiaries		Subsidiaries			Company)			Elims			Consolidated
	(Millions)

Revenues
Net sales and operating revenues —
External	$	1,570	$	2,078		$	—		$	—		$	3,648
Affiliated companies		81		257			—			(338	)		—

		1,651		2,335			—			(338	)		3,648

Costs and expenses
Cost of sales (exclusive of depreciation and amortization shown below)		1,445		1,924			—			(338	)		3,031
Engineering, research, and development		28		42			—			—			70
Selling, general, and administrative		72		154			1			—			227
Depreciation and amortization of other intangibles		37		68			—			—			105

		1,582		2,188			1			(338	)		3,433

Other income (expense)
Loss on sale of receivables		—		(3	)		—			—			(3	)
Other income (loss)		32		(2	)		—			(35	)		(5	)

		32		(5	)		—			(35	)		(8	)

Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies		101		142			(1	)		(35	)		207

Interest expense —
External (net of interest capitalized)		—		2			52			—			54
Affiliated companies (net of interest income)		102		(34	)		(68	)		—			—
Income tax expense		5		39			—			—			44
Equity in net income (loss) from affiliated companies		118		—			82			(200	)		—

Net Income		112		135			97			(235	)		109

Less: Net income attributable to noncontrolling interests		—		12			—			—			12

Net income (loss) attributable to Tenneco Inc.	$	112	$	123		$	97		$	(235	)	$	97


	For the Six Months Ended June 30, 2010
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass &
	Subsidiaries			Subsidiaries			Company)			Elims			Consolidated
	(Millions)

Revenues
Net sales and operating revenues —
External	$	1,220		$	1,598		$	—		$	—		$	2,818
Affiliated companies		62			235			—			(297	)		—

		1,282			1,833			—			(297	)		2,818

Costs and expenses
Cost of sales (exclusive of depreciation and amortization shown below)		1,052			1,540			—			(297	)		2,295
Engineering, research, and development		26			34			—			—			60
Selling, general, and administrative		73			123			2			—			198
Depreciation and amortization of other intangibles		43			65			—			—			108

		1,194			1,762			2			(297	)		2,661

Other income (expense)
Loss on sale of receivables		—			(2	)		—			—			(2	)
Other income (loss)		9			2			1			(15	)		(3	)

		9			—			1			(15	)		(5	)

Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies		97			71			(1	)		(15	)		152

Interest expense —
External (net of interest capitalized)		(1	)		4			61			—			64
Affiliated companies (net of interest income)		87			(23	)		(64	)		—			—
Income tax expense (benefit)		4			26			—			—			30
Equity in net income (loss) from affiliated companies		47			—			45			(92	)		—

Net Income (loss)		54			64			47			(107	)		58

Less: Net income (loss) attributable to noncontrolling interests		—			11			—			—			11

Net income (loss) attributable to Tenneco Inc.	$	54		$	53		$	47		$	(107	)	$	47

Balance Sheet


	June 30, 2011
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent		Reclass
	Subsidiaries			Subsidiaries			Company)		& Elims			Consolidated
	(Millions)

ASSETS
Current assets:
Cash and cash equivalents	$	—		$	161		$	—	$	—		$	161
Receivables, net		512			1,374			24		(774	)		1,136
Inventories		233			393			—		—			626
Deferred income taxes		73			—			—		(31	)		42
Prepayments and other		28			149			—		—			177

Total current assets		846			2,077			24		(805	)		2,142

Other assets:
Investment in affiliated companies		495			—			830		(1,325	)		—
Notes and advances receivable from affiliates		4,149			963			5,950		(11,062	)		—
Long-term receivables, net		1			11			—		—			12
Goodwill		22			69			—		—			91
Intangibles, net		14			20			—		—			34
Deferred income taxes		41			24			27		—			92
Other		25			48			31		—			104

		4,747			1,135			6,838		(12,387	)		333

Plant, property, and equipment, at cost		998			2,284			—		—			3,282
Less — Accumulated depreciation and amortization		(723	)		(1,476	)		—		—			(2,199	)

		275			808			—		—			1,083

Total assets	$	5,868		$	4,020		$	6,862	$	(13,192	)	$	3,558


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt (including current maturities of long-term debt)
Short-term debt — non-affiliated	$	—		$	66		$	1	$	—		$	67
Short-term debt — affiliated		219			394			10		(623	)		—
Trade payables		445			873			1		(111	)		1,208
Accrued taxes		27			28			—		—			55
Other		132			238			41		(71	)		340

Total current liabilities		823			1,599			53		(805	)		1,670

Long-term debt — non-affiliated		—			16			1,211		—			1,227
Long-term debt — affiliated		4,649			990			5,423		(11,062	)		—
Deferred income taxes		—			58			—		—			58
Postretirement benefits and other liabilities		332			82			—		4			418
Commitments and contingencies

Total liabilities		5,804			2,745			6,687		(11,863	)		3,373

Redeemable noncontrolling interests		—			10			—		—			10

Tenneco Inc. Shareholders’ equity		64			1,230			175		(1,329	)		140

Noncontrolling interests		—			35			—		—			35

Total equity		64			1,265			175		(1,329	)		175

Total liabilities, redeemable noncontrolling interests and equity	$	5,868		$	4,020		$	6,862	$	(13,192	)	$	3,558


	December 31, 2010
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent		Reclass
	Subsidiaries			Subsidiaries			Company)		& Elims			Consolidated
							(Millions)

ASSETS
Current assets:
Cash and cash equivalents	$	—		$	233		$	—	$	—		$	233
Receivables, net		402			1,106			24		(706	)		826
Inventories		221			326			—		—			547
Deferred income taxes		103			—			—		(65	)		38
Prepayments and other		35			111			—		—			146

Total current assets		761			1,776			24		(771	)		1,790

Other assets:
Investment in affiliated companies		391			—			707		(1,098	)		—
Notes and advances receivable from affiliates		4,119			788			5,853		(10,760	)		—
Long-term receivables, net		1			8			—		—			9
Goodwill		22			67			—		—			89
Intangibles, net		14			18			—		—			32
Deferred income taxes		37			21			34		—			92
Other		26			46			33		—			105

		4,610			948			6,627		(11,858	)		327

Plant, property, and equipment, at cost		997			2,112			—		—			3,109
Less — Accumulated depreciation and amortization		(713	)		(1,346	)		—		—			(2,059	)

		284			766			—		—			1,050

Total assets	$	5,655		$	3,490		$	6,651	$	(12,629	)	$	3,167


LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt (including current maturities of long-term debt)
Short-term debt — non-affiliated	$	—		$	62		$	1	$	—		$	63
Short-term debt — affiliated		214			371			10		(595	)		—
Trade payables		367			773			—		(92	)		1,048
Accrued taxes		20			31			—		—			51
Other		130			213			47		(84	)		306

Total current liabilities		731			1,450			58		(771	)		1,468

Long-term debt — non-affiliated		—			11			1,149		—			1,160
Long-term debt — affiliated		4,583			768			5,409		(10,760	)		—
Deferred income taxes		—			56			—		—			56
Postretirement benefits and other liabilities		347			85			—		4			436
Commitments and contingencies

Total liabilities		5,661			2,370			6,616		(11,527	)		3,120

Redeemable noncontrolling interests		—			12			—		—			12

Tenneco Inc. Shareholders’ equity		(6	)		1,069			35		(1,102	)		(4	)

Noncontrolling interests		—			39			—		—			39

Total equity		(6	)		1,108			35		(1,102	)		35

Total liabilities, redeemable noncontrolling interests and equity	$	5,655		$	3,490		$	6,651	$	(12,629	)	$	3,167

Statement of Cash Flows


	Three Months Ended June 30, 2011
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass
	Subsidiaries			Subsidiaries			Company)			& Elims		Consolidated
	(Millions)

Operating Activities
Net cash provided (used) by operating activities	$	46		$	90		$	(69	)	$	—	$	67

Investing Activities
Proceeds from sale of assets		(1	)		1			—			—		—
Cash payments for plant, property, and equipment		(16	)		(33	)		—			—		(49	)
Cash payments for software related intangible assets		(1	)		(2	)		—			—		(3	)

Net cash used by investing activities		(18	)		(34	)		—			—		(52	)

Financing Activities
Capital contribution from noncontrolling interest partner		—			1			—			—		1
Purchase of common stock under the share repurchase program		—			—			(11	)		—		(11	)
Issuance of long-term debt		—			4			—			—		4
Debt issuance cost of long-term debt		—			—			(1	)		—		(1	)
Retirement of long-term debt		—			(1	)		—			—		(1	)
Increase (decrease) in bank overdrafts		—			1			—			—		1
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables		—			3			38			—		41
Net increase (decrease) in short-term borrowings secured by accounts receivables		—			(82	)		—			—		(82	)
Intercompany dividends and net increase (decrease) in intercompany obligations		(30	)		(13	)		43			—		—

Distributions to noncontrolling interest partners		—			(10	)		—			—		(10	)

Net cash provided (used) by financing activities		(30	)		(97	)		69			—		(58	)

Effect of foreign exchange rate changes on cash and cash equivalents		—			5			—			—		5

Increase (decrease) in cash and cash equivalents		(2	)		(36	)		—			—		(38	)
Cash and cash equivalents, April 1		2			197			—			—		199

Cash and cash equivalents, June 30 (Note)	$	—		$	161		$	—		$	—	$	161


Note:	Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.


	Three Months Ended June 30, 2010
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass
	Subsidiaries			Subsidiaries			Company)			& Elims		Consolidated
							(Millions)

Operating Activities
Net cash provided (used) by operating activities	$	(91	)	$	263		$	(68	)	$	—	$	104

Investing Activities
Cash payments for plant, property, and equipment		(14	)		(20	)		—			—		(34	)
Cash payments for software related intangible assets		(4	)		(2	)		—			—		(6	)
Investments and other		—			1			—			—		1

Net cash used by investing activities		(18	)		(21	)		—			—		(39	)

Financing Activities
Issuance of long-term debt		—			5			150			—		155
Retirement of long-term debt		—			(1	)		(128	)		—		(129	)
Debt issuance cost on long-term debt		—			—			(9	)		—		(9	)
Increase (decrease) in bank overdrafts		—			3			—			—		3
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables		—			(7	)		25			—		18
Net increase (decrease) in short-term borrowings secured by accounts receivables		—			(126	)		—			—		(126	)
Intercompany dividends and net increase (decrease) in intercompany obligations		111			(141	)		30			—		—
Distribution to noncontrolling interests partners		—			(10	)		—			—		(10	)

Net cash provided (used) by financing activities		111			(277	)		68			—		(98	)

Effect of foreign exchange rate changes on cash and cash equivalents		—			(14	)		—			—		(14	)

Increase (decrease) in cash and cash equivalents		2			(49	)		—			—		(47	)
Cash and cash equivalents, April 1		—			193			—			—		193

Cash and cash equivalents, June 30 (Note)	$	2		$	144		$	—		$	—	$	146


Note:	Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.


	Six Months Ended June 30, 2011
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass
	Subsidiaries			Subsidiaries			Company)			& Elims		Consolidated
							(Millions)

Operating Activities
Net cash provided (used) by operating activities	$	152		$	(70	)	$	(118	)	$	—	$	(36	)

Investing Activities
Proceeds from sale of assets		3			1			—			—		4
Cash payments for plant, property, and equipment		(30	)		(65	)		—			—		(95	)
Cash payments for software related intangible assets		(2	)		(4	)		—			—		(6	)

Net cash used by investing activities		(29	)		(68	)		—			—		(97	)

Financing Activities
Capital contribution from noncontrolling interest partner		—			1			—			—		1
Purchase of common stock under the share repurchase program		—			—			(11	)		—		(11	)
Issuance of long-term debt		—			4			—			—		4
Debt issuance cost of long-term debt		—			—			(1	)		—		(1	)
Retirement of long-term debt		—			(1	)		(22	)		—		(23	)
Increase (decrease) in bank overdrafts		—			8			—			—		8
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt		—			3			85			—		88
Intercompany dividends and net increase (decrease) in intercompany obligations		(123	)		56			67			—		—
Distribution to noncontrolling interest partners		—			(10	)		—			—		(10	)

Net cash provided (used) by financing activities		(123	)		61			118			—		56

Effect of foreign exchange rate changes on cash and cash equivalents		—			5			—			—		5

Increase (decrease) in cash and cash equivalents		—			(72	)		—			—		(72	)
Cash and cash equivalents, January 1		—			233			—			—		233

Cash and cash equivalents, June 30 (Note)	$	—		$	161		$	—		$	—	$	161


Note:	Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.


	Six Months Ended June 30, 2010
							Tenneco Inc.
	Guarantor			Nonguarantor			(Parent			Reclass
	Subsidiaries			Subsidiaries			Company)			& Elims		Consolidated
	(Millions)

Operating Activities
Net cash provided (used) by operating activities	$	(63	)	$	227		$	(117	)	$	—	$	47

Investing Activities
Proceeds from sale of assets		—			1			—			—		1
Cash payments for plant, property, and equipment		(29	)		(43	)		—			—		(72	)
Cash payments for software related intangible assets		(5	)		(3	)		—			—		(8	)
Investments and other		—			2			—			—		2

Net cash used by investing activities		(34	)		(43	)		—			—		(77	)

Financing Activities
Issuance of long-term debt		—			5			150			—		155
Retirement of long-term debt		—			(2	)		(135	)		—		(137	)
Debt issuance cost on long-term debt		—			—			(9	)		—		(9	)
Increase (decrease) in bank overdrafts		—			2			—			—		2
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt		—			(5	)		25			—		20
Intercompany dividends and net increase (decrease) in intercompany obligations		79			(165	)		86			—		—
Distribution to noncontrolling interests partners		—			(11	)		—			—		(11	)

Net cash provided (used) by financing activities		79			(176	)		117			—		20

Effect of foreign exchange rate changes on cash and cash equivalents		—			(11	)		—			—		(11	)

Increase (decrease) in cash and cash equivalents		(18	)		(3	)		—			—		(21	)
Cash and cash equivalents, January 1		20			147			—			—		167

Cash and cash equivalents, June 30 (Note)	$	2		$	144		$	—		$	—	$	146


Note:	Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase.