-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QceAmxZjkTVKUWdJkE3YUvB9iAgIKR40+fB5JG7QhdqvL7zJ3rmMJFRioV8pWGWt tPM+l7iNeGGuGWMe/KZdpQ== 0000950134-04-005508.txt : 20040420 0000950134-04-005508.hdr.sgml : 20040420 20040420060633 ACCESSION NUMBER: 0000950134-04-005508 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040420 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20040420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TENNECO AUTOMOTIVE INC CENTRAL INDEX KEY: 0001024725 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 760515284 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12387 FILM NUMBER: 04741650 BUSINESS ADDRESS: STREET 1: 500 NORTH FIELD DRIVE CITY: LAKE FOREST STATE: IL ZIP: 60045 BUSINESS PHONE: 847-482-50 MAIL ADDRESS: STREET 1: 500 N FIELD DR STREET 2: ROOM T 2560B CITY: LAKE FOREST STATE: IL ZIP: 60045 FORMER COMPANY: FORMER CONFORMED NAME: NEW TENNECO INC DATE OF NAME CHANGE: 19961011 8-K 1 c84614ae8vk.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): APRIL 20, 2004 TENNECO AUTOMOTIVE INC. (Exact Name of Registrant as Specified in Charter) DELAWARE 1-12387 76-0515284 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 500 NORTH FIELD DRIVE, LAKE FOREST, ILLINOIS 60045 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (847) 482-5000 ITEM 5. OTHER EVENTS AND REQUIRED FD DISCLOSURE. On April 20, 2004, Tenneco Automotive announced its results of operations for the first quarter of 2004. Exhibit 99.1 to this Form 8-K report presents the company's consolidated statement of income, balance sheet and statement of cash flows for the period ended March 31, 2004, as released by the company on April 20, 2004, and such Exhibit is incorporated herein by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
Exhibit Number Description 99.1 Tenneco Automotive's consolidated statement of income, balance sheet and statement of cash flows for the period ended March 31, 2004, as released by the company on April 20, 2004.
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TENNECO AUTOMOTIVE INC. Date: April 20, 2004 By: /s/ KENNETH R. TRAMMELL ------------------------------- Kenneth R. Trammell Senior Vice President and Chief Financial Officer EXHIBIT INDEX
Exhibit Number Description 99.1 Tenneco Automotive's consolidated statement of income, balance sheet and statement of cash flows for the period ended March 31, 2004, as released by the company on April 20, 2004.
EX-99.1 3 c84614aexv99w1.txt CONSOLIDATED STATEMENT EXHIBIT 99.1 TENNECO AUTOMOTIVE INC. AND CONSOLIDATED SUBSIDIARIES STATEMENTS OF INCOME (LOSS) Unaudited THREE MONTHS ENDED MARCH 31, (Millions except share and per share amounts)
2004 2003 ---------- ---------- Net sales and operating revenues $ 1,034(a) $ 921 ========== ========== Costs and Expenses Cost of Sales (exclusive of depreciation shown below) 830(b) 743(d) Engineering, Research and Development 17 19 Selling, General and Administrative 109(a)(b)(c) 88 Depreciation and Amortization of Other Intangibles 45 39 Total Costs and Expenses 1,001 889 ========== ========== Other Income (Loss) -- (1) ---------- ---------- Income (Loss) before Interest Expense, Income Taxes, and Minority Interest North America 30(a)(b)(c) 28(d) Europe (3)(b)(c) (1)(d) Other 6(c) 4 ---------- ---------- 33 31 Less: Interest expense (net of interest capitalized) 35 31 Income tax expense (benefit) (1) (2)(e) Minority interest 1 1 ---------- ---------- Net income (loss) $ (2) $ 1 ========== ========== Average common shares outstanding: Basic 40.9 40.1 ========== ========== Diluted 43.5 40.9 ========== ========== Earnings (loss) per share of common stock: Basic $ (0.05) $ 0.02 ========== ========== Diluted $ (0.05) $ 0.02 ========== ==========
- ---------- (a) Includes changeover costs for a new aftermarket customer of $6 million pre-tax, $3 million after-tax or $0.08 per share. Of the adjustment $4 million is recorded in Sales and $2 million is recorded in SG&A. Geographically all of the charge is recorded in North America. (b) Includes restructuring and restructuring related charges of $5 million pre-tax, $3 million after tax or $0.07 per share. Of the adjustment $2 million is recorded in SG&A and the remaining $3 million is in cost of sales. Geographically, $2 million is recorded in North America and $3 million in Europe. (c) Consulting fees indexed to stock price of $3 million pre-tax, $2 million after-tax or $0.05 per share. The entire charge is recorded in SG&A. Geographically $1 million of the charge is recorded in North America, Europe and Other respectively. (d) Includes restructuring related charges of $5 million pre-tax, $2 million after-tax or $0.07 per share. The entire charge is recorded in cost of sales. Geographically, $3 million is recorded in North America and $2 million in Europe. (e) Includes a $3 million or $0.08 per share tax benefit related to the resolution of outstanding tax issues. TENNECO AUTOMOTIVE INC. AND CONSOLIDATED SUBSIDIARIES BALANCE SHEET (Unaudited) (Millions)
MARCH 31, 2004 DECEMBER 31, 2003 ------------------ ------------------ Assets Cash and Cash Equivalents $ 149 $ 145 Receivables, Net 512 442 Inventories 367 343 Other Current Assets 203 175 Investments and Other Assets 602 579 Plant, Property, and Equipment, Net 1,079 1,111 ------------------ ------------------ Total Assets $ 2,912 $ 2,795 ================== ================== Liabilities and Shareholders' Equity Short-Term Debt $ 18 $ 20 Accounts Payable 692 621 Accrued Taxes 25 19 Accrued Interest 39 42 Other Current Liabilities 234 191 Long-Term Debt 1,408 1,410 Deferred Income Taxes 125 119 Deferred Credits and Other Liabilities 297 292 Minority Interest 21 23 Total Shareholders' Equity 53 58 ------------------ ------------------ Total Liabilities and Shareholders' Equity $ 2,912 $ 2,795 ================== ==================
Tenneco Automotive Inc. and Consolidated Subsidiaries Statement of Cash Flows (Unaudited) (Millions)
THREE MONTHS ENDED MARCH 31, -------------------------- 2004 2003 ---------- ---------- Operating activities: Net income (loss) $ (2) $ 1 Adjustments to reconcile income (loss) to net cash provided (used) by operating activities - Depreciation and amortization 45 39 Deferred income taxes (9) (7) Changes in components of working capital - (Inc.)/dec. in receivables (70) (49) (Inc.)/dec. in inventories (27) (12) (Inc.)/dec. in prepayments and other current assets (26) (6) Inc./(dec.) in payables 79 78 Inc./(dec.) in taxes accrued 5 (4) Inc./(dec.) in interest accrued (2) 11 Inc./(dec.) in other current liabilities 15 (18) Other 5 3 ---------- ---------- Net cash provided (used) by operating activities 13 36 Investing activities: Net proceeds from sale of assets 11 1 Expenditures for plant, property & equipment (25) (26) Investments and other (1) (1) ---------- ---------- Net cash provided (used) by investing activities (15) (26) ---------- ---------- Net cash provided (used) before financing activities (2) 10 Financing activities: Issuance of common and treasury shares 3 -- Retirement of long-term debt (2) (24) Net inc./(dec.) in short-term debt excluding current maturities on long-term debt (2) 21 Other 1 -- ---------- ---------- Net cash provided (used) by financing activities -- (3) ---------- ---------- Effect of foreign exchange rate changes on cash and cash equivalents 6 (3) ---------- ---------- Inc./(dec.) in cash and cash equivalents 4 4 Cash and cash equivalents, January 1 145 54 ---------- ---------- Cash and cash equivalents, March 31 $ 149 $ 58 ========== ========== Cash paid during the period for interest $ 37 $ 20 Cash paid during the period for income taxes $ 3 $ 11
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