Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2017

Supplemental Guarantor Information [Abstract]



	Condensed Consolidating Balance Sheets
	September 30, 2017
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications/ Eliminations			Consolidated
	(In millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	72.6	$	—		$	72.6
Accounts receivable, net	—		150.6		80.8		—			231.4
Inventories, net	—		190.2		78.1		—			268.3
Receivable from affiliates	—		—		17.2		—			17.2
Other current assets	0.6		40.2		29.5		—			70.3
Total current assets	0.6		381.0		278.2		—			659.8
Investments in subsidiaries	546.4		249.4		—		(795.8		)	—
Intercompany advances	300.1		83.0		107.2		(490.3		)	—
Property, plant and equipment, net	6.1		101.5		66.1		—			173.7
Goodwill	—		58.9		33.1		—			92.0
Intangible assets, net	—		61.3		36.2		—			97.5
Other long-term assets	67.1		4.6		7.6		—			79.3
Total assets	$	920.3	$	939.7	$	528.4	$	(1,286.1	)	$	1,102.3

LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Trade accounts payable	$	—	$	122.8	$	46.6	$	—		$	169.4
Payable to affiliates	—		—		7.1		—			7.1
Current portion of long-term and short-term debt	—		6.6		11.5		—			18.1
Accrued expenses and other	13.4		35.0		40.8		—			89.2
Total current liabilities	13.4		164.4		106.0		—			283.8
Long-term liabilities, less current portion:
Debt	442.7		10.6		39.0		—			492.3
Deferred income taxes	—		19.4		9.6		—			29.0
Other long-term liabilities	15.2		1.0		5.1		—			21.3
Total long-term liabilities	457.9		31.0		53.7		—			542.6
Intercompany advances	173.1		226.6		90.6		(490.3		)	—
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	265.5		517.7		267.7		(785.4		)	265.5
Noncontrolling interests	10.4		—		10.4		(10.4		)	10.4
Total equity	275.9		517.7		278.1		(795.8		)	275.9
Total liabilities and equity	$	920.3	$	939.7	$	528.4	$	(1,286.1	)	$	1,102.3



	Condensed Consolidating Balance Sheets
	December 31, 2016
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications/ Eliminations			Consolidated
	(In millions)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	54.4	$	—		$	54.4
Accounts receivable, net	—		125.2		69.2		—			194.4
Inventories, net	—		172.9		67.7		—			240.6
Receivable from affiliates	—		—		12.8		—			12.8
Other current assets	0.7		28.3		24.3		—			53.3
Total current assets	0.7		326.4		228.4		—			555.5
Investments in subsidiaries	492.8		213.8		—		(706.6		)	—
Intercompany advances	296.5		78.1		110.5		(485.1		)	—
Property, plant and equipment, net	6.2		98.2		65.2		—			169.6
Goodwill	—		56.8		29.8		—			86.6
Intangible assets, net	—		64.8		31.8		—			96.6
Other long-term assets	62.8		4.5		4.0		—			71.3
Total assets	$	859.0	$	842.6	$	469.7	$	(1,191.7	)	$	979.6

LIABILITIES AND SHAREHOLDER'S EQUITY
Current liabilities:
Trade accounts payable	$	—	$	100.3	$	33.4	$	—		$	133.7
Payable to affiliates	—		—		7.0		—			7.0
Current portion of long-term and short-term debt	13.2		6.4		11.2		—			30.8
Accrued expenses and other	10.5		36.8		31.3		—			78.6
Total current liabilities	23.7		143.5		82.9		—			250.1
Long-term liabilities, less current portion:
Debt	389.2		12.2		37.6		—			439.0
Deferred income taxes	—		20.4		8.6		—			29.0
Other long-term liabilities	16.1		8.5		5.2		—			29.8
Total long-term liabilities	405.3		41.1		51.4		—			497.8
Intercompany advances	198.3		192.2		94.6		(485.1		)	—
Total Park-Ohio Industries, Inc. and Subsidiaries shareholder's equity	221.7		465.8		230.8		(696.6		)	221.7
Noncontrolling interests	10.0		—		10.0		(10.0		)	10.0
Total equity	231.7		465.8		240.8		(706.6		)	231.7
Total liabilities and shareholder's equity	$	859.0	$	842.6	$	469.7	$	(1,191.7	)	$	979.6

Consolidating statement of operations



	Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)
	Nine Months Ended September 30, 2017
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(In millions)
Net sales	$	—		$	774.6		$	272.3		$	—		$	1,046.9
Cost of sales	—			660.1			213.8			—			873.9
Gross profit	—			114.5			58.5			—			173.0
Selling, general and administrative expenses	19.5			55.7			33.6			—			108.8
Litigation settlement gain	—			(3.3		)	—			—			(3.3		)
Income (loss) from subsidiaries	75.4			16.1			—			(91.5		)	—
Operating income (loss)	55.9			78.2			24.9			(91.5		)	67.5
Interest expense	21.1			—			2.0			—			23.1
Loss on debt extinguishment	11.0			—			—			—			11.0
Income (loss) before income taxes	23.8			78.2			22.9			(91.5		)	33.4
Income tax expense	—			4.0			5.6			—			9.6
Net income (loss)	23.8			74.2			17.3			(91.5		)	23.8
Net (income) loss attributable to noncontrolling interests	(0.7		)	—			(0.7		)	0.7			(0.7		)
Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	23.1		$	74.2		$	16.6		$	(90.8	)	$	23.1

Other comprehensive income (loss) (see note 12):
Net income (loss)	$	23.8		$	74.2		$	17.3		$	(91.5	)	$	23.8
Foreign currency translation adjustment	18.9			—			18.9			(18.9		)	18.9
Pension and OPEB activity, net of tax adjustments	0.6			0.6			—			(0.6		)	0.6
Comprehensive income (loss), net of tax	43.3			74.8			36.2			(111.0		)	43.3
Comprehensive (income) loss attributable to noncontrolling interest	(0.7		)	—			(0.7		)	0.7			(0.7		)
Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	42.6		$	74.8		$	35.5		$	(110.3	)	$	42.6



	Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)
	Nine Months Ended September 30, 2016
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(In millions)
Net sales	$	—		$	751.7		$	218.4		$	—		$	970.1
Cost of sales	—			645.8			167.9			—			813.7
Gross profit	—			105.9			50.5			—			156.4
Selling, general and administrative expenses	18.0			54.3			26.7			—			99.0
Asset impairment	—			4.0			—			—			4.0
Income (loss) from subsidiaries	64.2			13.9			—			(78.1		)	—
Operating income (loss)	46.2			61.5			23.8			(78.1		)	53.4
Interest expense	20.2			—			1.1			—			21.3
Income (loss) before income taxes	26.0			61.5			22.7			(78.1		)	32.1
Income tax (benefit) expense	—			(1.3		)	7.4			—			6.1
Net income (loss)	26.0			62.8			15.3			(78.1		)	26.0
Net income attributable to noncontrolling interests	(0.3		)	—			(0.3		)	0.3			(0.3		)
Net income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	25.7		$	62.8		$	15.0		$	(77.8	)	$	25.7

Other comprehensive income (loss) (see note 12):
Net income (loss)	$	26.0		$	62.8		$	15.3		$	(78.1	)	$	26.0
Foreign currency translation adjustment	(5.3		)	—			(5.3		)	5.3			(5.3		)
Pension and OPEB activity, net of tax adjustments	0.7			0.4			—			(0.4		)	0.7
Comprehensive income (loss), net of tax	21.4			63.2			10.0			(73.2		)	21.4
Comprehensive income attributable to noncontrolling interests	(0.3		)	—			(0.3		)	0.3			(0.3		)
Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	21.1		$	63.2		$	9.7		$	(72.9	)	$	21.1



	Consolidating Statement of Operations and Comprehensive Income (Loss)
	Three Months Ended September 30, 2017
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	258.4	$	93.8		$	—		$	352.2
Cost of sales	—			220.6		74.4			—			295.0
Gross profit	—			37.8		19.4			—			57.2
Selling, general and administrative expenses	7.0			18.4		10.8			—			36.2
Income (loss) from subsidiaries	24.6			6.8		—			(31.4		)	—
Operating income (loss)	17.6			26.2		8.6			(31.4		)	21.0
Interest expense	7.2			—		0.6			—			7.8
Loss on extinguishment of debt	—			—		—			—			—
Income (loss) before income taxes	10.4			26.2		8.0			(31.4		)	13.2
Income tax expense	—			1.9		0.9			—			2.8
Net income (loss)	10.4			24.3		7.1			(31.4		)	10.4
Net (income) loss attributable to noncontrolling interest	(0.2		)	—		(0.2		)	0.2			(0.2		)
Net income(loss) attributable to Park-Ohio Industries Inc. common shareholder	$	10.2		$	24.3	$	6.9		$	(31.2	)	$	10.2

Other comprehensive income (loss) (see note 12):
Net income (loss)	$	10.4		$	24.3	$	7.1		$	(31.4	)	$	10.4
Foreign currency translation adjustment	7.5			—		7.5			(7.5		)	7.5
Pension and OPEB activity, net of tax adjustments	0.2			0.2		—			(0.2		)	0.2
Comprehensive income (loss), net of tax	18.1			24.5		14.6			(39.1		)	18.1
Comprehensive (income) loss attributable to noncontrolling interest	(0.2		)	—		(0.2		)	0.2			(0.2		)
Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	17.9		$	24.5	$	14.4		$	(38.9	)	$	17.9



	Consolidating Statements of Income (Loss) and Comprehensive Income (Loss)
	Three Months Ended September 30, 2016
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	242.1		$	70.6		$	—		$	312.7
Cost of sales	—			205.3			53.1			—			258.4
Gross profit	—			36.8			17.5			—			54.3
Selling, general and administrative expenses	7.7			17.8			7.7			—			33.2
Income (loss) from subsidiaries	28.4			5.8			—			(34.2		)	—
Operating income (loss)	20.7			24.8			9.8			(34.2		)	21.1
Interest expense	6.8			—			0.4			—			7.2
Income (loss) before income taxes	13.9			24.8			9.4			(34.2		)	13.9
Income tax expense	—			(3.0		)	3.0			—			—
Net income (loss)	$	13.9		$	27.8		$	6.4		$	(34.2	)	$	13.9
Net income attributable to noncontrolling interest	(0.3		)	—			(0.3		)	0.3			(0.3		)
Net income attributable to Park-Ohio Industries Inc. common shareholder	$	13.6		$	27.8		$	6.1		$	(33.9	)	$	13.6

Other comprehensive income (loss) (see note 12):
Net income (loss)	$	13.9		$	27.8		$	6.4		$	(34.2	)	$	13.9
Foreign currency translation adjustment	(1.3		)	—			(1.3		)	1.3			(1.3		)
Pension and OPEB activity, net of tax adjustments	0.3			—			—			—			0.3
Comprehensive income (loss), net of tax	12.9			27.8			5.1			(32.9		)	12.9
Comprehensive income attributable to noncontrolling interest	(0.3		)	—			(0.3		)	0.3			(0.3		)
Comprehensive income (loss) attributable to Park-Ohio Industries Inc. common shareholder	$	12.6		$	27.8		$	4.8		$	(32.6	)	$	12.6

Condensed consolidating statement of cash flows



	Condensed Consolidating Statements of Cash Flows
	Nine Months Ended September 30, 2017
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(In millions)
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	$	(32.8	)	$	36.2		$	18.9		$	1.0		$	23.3
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(0.3		)	(13.7		)	(4.9		)	—			(18.9		)
Business acquisition	—			(10.5		)	—			—			(10.5		)
Net cash used in investing activities	(0.3		)	(24.2		)	(4.9		)	—			(29.4		)
FINANCING ACTIVITIES
Intercompany account change	9.5			(10.6		)	2.1			(1.0		)	—
Payments on revolving credit facility, net	(32.5		)	—			—			—			(32.5		)
Payments on term loans and other debt	(23.4		)	(0.4		)	(3.9		)	—			(27.7		)
Proceeds from capital lease facilities, net	—			(1.0		)	1.1			—			0.1
Issuance of 6.625% Senior Notes due 2027	350.0			—			—			—			350.0
Debt financing costs	(7.5		)	—			—			—			(7.5		)
Redemption of 8.125% Senior Notes due 2021	(250.0		)	—			—			—			(250.0		)
Premium on early extinguishment of debt	(8.0		)	—			—			—			(8.0		)
Dividend paid to Parent	(5.0		)	—			—			—			(5.0		)
Dividend	—			—			(0.2		)	—			(0.2		)
Net cash provided (used) by financing activities	33.1			(12.0		)	(0.9		)	(1.0		)	19.2
Effect of exchange rate changes on cash	—			—			5.1			—			5.1
Increase in cash and cash equivalents	—			—			18.2			—			18.2
Cash and cash equivalents at beginning of period	—			—			54.4			—			54.4
Cash and cash equivalents at end of period	$	—		$	—		$	72.6		$	—		$	72.6



	Condensed Consolidating Statements of Cash Flows
	Nine Months Ended September 30, 2016
	Parent			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(In millions)
OPERATING ACTIVITIES
Net cash (used) provided by operating activities	$	(36.8	)	$	81.5		$	11.4		$	(16.3	)	$	39.8
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(0.1		)	(6.3		)	(13.9		)	—			(20.3		)
Net cash used in investing activities	(0.1		)	(6.3		)	(13.9		)	—			(20.3		)
FINANCING ACTIVITIES
Intercompany account change	57.7			(74.4		)	0.4			16.3			—
Payments on revolving credit facility, net	(17.4		)	—			—			—			(17.4		)
Payments on term loans and other debt	(3.4		)	—			—			—			(3.4		)
Proceeds from term loans and other debt	—			1.3			6.0			—			7.3
Payments on capital leases, net	—			(2.2		)	(0.3		)	—			(2.5		)
Payment of acquisition earn-out	—			—			(2.0		)	—			(2.0		)
Net cash provided (used) by financing activities	36.9			(75.3		)	4.1			16.3			(18.0		)
Effect of exchange rate changes on cash	—			—			(0.4		)	—			(0.4		)
Increase in cash and cash equivalents	—			(0.1		)	1.2			—			1.1
Cash and cash equivalents at beginning of period	—			0.1			48.3			—			48.4
Cash and cash equivalents at end of period	$	—		$	—		$	49.5		$	—		$	49.5