Guarantor Subsidiaries (Tables)

9 Months Ended

Sep. 30, 2011

Guarantor Subsidiaries [Abstract]

Schedule of condensed consolidating statement of operations

	RTI International Metals, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	97,118	$	95,330		$	(48,777	)	$	143,671
Costs and expenses:
Cost of sales		—			85,942		81,500			(48,777	)		118,665
Selling, general, and administrative expenses		(793	)		5,707		11,474			—			16,388
Research, technical, and product development expenses		—			874		51			—			925
Operating income		793			4,595		2,305			—			7,693
Other income (expense)		(39	)		34		203			—			198
Interest income (expense), net		(4,074	)		479		(247	)		—			(3,842	)
Equity in earnings of subsidiaries		4,179			—		—			(4,179	)		—
Income before income taxes		859			5,108		2,261			(4,179	)		4,049
Provision for (benefit from) income taxes		(1,208	)		2,465		725			—			1,982
Net income	$	2,067		$	2,643	$	1,536		$	(4,179	)	$	2,067

	RTI International Metals, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	(667	)	$	63,070		$	68,103		$	(27,913	)	$	102,593
Costs and expenses:
Cost of sales		—			55,955			60,376			(27,913	)		88,418
Selling, general, and administrative expenses		(611	)		5,656			10,726			—			15,771
Research, technical, and product development expenses		—			783			—			—			783
Asset and asset-related charges (income)		—			—			(151	)		—			(151	)
Operating income (loss)		(56	)		676			(2,848	)		—			(2,228	)
Other income (expense)		38			(54	)		(503	)		—			(519	)
Interest income (expense), net		(399	)		1,296			(1,034	)		—			(137	)
Equity in earnings (loss) of subsidiaries		(6,766	)		—			—			6,766			—
Income (loss) before income taxes		(7,183	)		1,918			(4,385	)		6,766			(2,884	)
Provision for (benefit from) income taxes		9,592			5,211			(912	)		—			13,891
Net income (loss)	$	(16,775	)	$	(3,293	)	$	(3,473	)	$	6,766		$	(16,775	)

	RTI International Metals, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	258,136	$	262,234		$	(132,636	)	$	387,734
Costs and expenses:
Cost of sales		—			218,953		225,817			(132,636	)		312,134
Selling, general, and administrative expenses		(1,358	)		17,376		35,446			—			51,464
Research, technical, and product development expenses		—			2,304		143			—			2,447
Asset and asset-related charges (income)		—			—		(1,501	)		—			(1,501	)
Operating income		1,358			19,503		2,329			—			23,190
Other expense		(72	)		—		(166	)		—			(238	)
Interest income (expense), net		(12,413	)		1,346		(745	)		—			(11,812	)
Equity in earnings of subsidiaries		14,610			—		—			(14,610	)		—
Income before income taxes		3,483			20,849		1,418			(14,610	)		11,140
Provision for (benefit from) income taxes		(3,054	)		8,173		(516	)		—			4,603
Net income	$	6,537		$	12,676	$	1,934		$	(14,610	)	$	6,537

	RTI International Metals, Inc.			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	13,493		$	177,819	$	208,261		$	(82,444	)	$	317,129
Costs and expenses:
Cost of sales		—			160,161		180,765			(82,444	)		258,482
Selling, general, and administrative expenses		10,213			3,617		33,998			—			47,828
Research, technical, and product development expenses		—			2,536		—			—			2,536
Asset and asset-related charges (income)		—			—		(3,262	)		—			(3,262	)
Operating income (loss)		3,280			11,505		(3,240	)		—			11,545
Other income (expense)		(48	)		4		(109	)		—			(153	)
Interest income (expense), net		(1,215	)		4,068		(3,323	)		—			(470	)
Equity in earnings (loss) of subsidiaries		3,455			—		—			(3,455	)		—
Income (loss) before income taxes		5,472			15,577		(6,672	)		(3,455	)		10,922
Provision for income taxes		610			4,802		648			—			6,060
Net income (loss)	$	4,862		$	10,775	$	(7,320	)	$	(3,455	)	$	4,862

Schedule of condensed consolidating balance sheet

	RTI International Metals, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	177,711	$	12,030	$	—		$	189,741
Short-term investments		—		76,587		—		—			76,587
Receivables, net		417		62,273		53,109		(27,916	)		87,883
Inventories, net		—		128,685		128,364		—			257,049
Deferred income taxes		18,493		1,418		63		—			19,974
Other current assets		14,765		1,166		1,164		(2,432	)		14,663
Total current assets		33,675		447,840		194,730		(30,348	)		645,897
Property, plant, and equipment, net		772		209,540		57,744		—			268,056
Marketable securities		—		89,479		—		—			89,479
Goodwill		—		18,097		23,208		—			41,305
Other intangible assets, net		—		—		12,829		—			12,829
Deferred income taxes		—		23,019		25,303		(24,711	)		23,611
Other noncurrent assets		5,065		36		127		—			5,228
Intercompany investments		921,775		71,231		180		(993,186	)		—
Total assets	$	961,287	$	859,242	$	314,121	$	(1,048,245	)	$	1,086,405
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	806	$	37,398	$	43,672	$	(27,916	)	$	53,960
Accrued wages and other employee costs		5,015		9,929		6,034		—			20,978
Unearned revenue		—		184		18,050		—			18,234
Other accrued liabilities		4,727		11,573		5,963		(2,432	)		19,831
Total current liabilities		10,548		59,084		73,719		(30,348	)		113,003
Long-term debt		184,675		20		—		—			184,695
Intercompany debt		—		83,997		101,499		(185,496	)		—
Liability for post-retirement benefits		—		41,128		—		—			41,128
Liability for pension benefits		4,380		2,097		676		—			7,153
Deferred income taxes		30,148		—		—		(24,707	)		5,441
Other noncurrent liabilities		5,089		3,449		—		—			8,538
Total liabilities		234,840		189,775		175,894		(240,551	)		359,958
Shareholders’ equity		726,447		669,467		138,227		(807,694	)		726,447
Total liabilities and shareholders’ equity	$	961,287	$	859,242	$	314,121	$	(1,048,245	)	$	1,086,405

	RTI International Metals, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	350,629	$	26,322	$	—		$	376,951
Short-term investments		—		20,275		—		—			20,275
Receivables, net		382		39,313		35,519		(18,979	)		56,235
Inventories, net		—		151,544		118,175		—			269,719
Deferred income taxes		21,430		1,419		42		—			22,891
Other current assets		16,489		811		1,069		(2,070	)		16,299
Total current assets		38,301		563,991		181,127		(21,049	)		762,370
Property, plant, and equipment, net		1,050		198,007		61,519		—			260,576
Goodwill		—		18,097		23,698		—			41,795
Other intangible assets, net		—		—		14,066		—			14,066
Deferred income taxes		—		24,371		21,765		(24,437	)		21,699
Other noncurrent assets		6,168		36		144		—			6,348
Intercompany investments		898,943		71,231		180		(970,354	)		—
Total assets	$	944,462	$	875,733	$	302,499	$	(1,015,840	)	$	1,106,854
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	15	$	36,441	$	29,749	$	(18,979	)	$	47,226
Accrued wages and other employee costs		5,603		7,656		8,692		—			21,951
Unearned revenue		—		—		28,358		—			28,358
Other accrued liabilities		2,612		11,037		16,600		(2,070	)		28,179
Total current liabilities		8,230		55,134		83,399		(21,049	)		125,714
Long-term debt		178,062		40		5		—			178,107
Intercompany debt		—		99,955		79,024		(178,979	)		—
Liability for post-retirement benefits		—		39,903		—		—			39,903
Liability for pension benefits		7,128		26,025		677		—			33,830
Deferred income taxes		27,569		15		—		(24,437	)		3,147
Other noncurrent liabilities		5,073		2,680		—		—			7,753
Total liabilities		226,062		223,752		163,105		(224,465	)		388,454
Shareholders’ equity		718,400		651,981		139,394		(791,375	)		718,400
Total liabilities and shareholders’ equity	$	944,462	$	875,733	$	302,499	$	(1,015,840	)	$	1,106,854

Schedule of condensed consolidating statement of cash flows

	RTI International Metals, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash provided by (used in) operating activities	$	10,334		$	13,778		$	(37,619	)	$	—		$	(13,507	)
Investing activities:
Capital expenditures		—			(23,326	)		(2,628	)		—			(25,954	)
Investments, net		—			(147,392	)		—			—			(147,392	)
Investments in subsidiaries		(4,025	)		—			—			4,025			—
Cash used in investing activities		(4,025	)		(170,718	)		(2,628	)		4,025			(173,346	)
Financing activities:
Proceeds from exercise of employee stock options		252			—			—			—			252
Excess tax benefits from stock-based compensation activity		263			—			—			—			263
Parent company investments		—			—			4,025			(4,025	)		—
Repayments on long-term debt		—			(20	)		(5	)		—			(25	)
Intercompany debt		(6,541	)		(15,958	)		22,499			—			—
Purchase of common stock held in treasury		(283	)		—			—			—			(283	)
Cash provided by (used in) financing activities		(6,309	)		(15,978	)		26,519			(4,025	)		207
Effect of exchange rate changes on cash and cash equivalents		—			—			(564	)		—			(564	)
Decrease in cash and cash equivalents		—			(172,918	)		(14,292	)		—			(187,210	)
Cash and cash equivalents at beginning of period		—			350,629			26,322			—			376,951
Cash and cash equivalents at end of period	$	—		$	177,711		$	12,030		$	—		$	189,741

	RTI International Metals, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash provided by operating activities	$	18,110		$	12,821		$	680		$	—		$	31,611
Investing activities:
Proceeds from disposal of property, plant, and equipment		—			—			1,433			—			1,433
Short-term investments, net		—			44,785			—			—			44,785
Capital expenditures		—			(19,641	)		(3,218	)		—			(22,859	)
Investments in subsidiaries, net		(15,830	)		(2,900	)		—			18,730			—
Cash used in investing activities		(15,830	)		22,244			(1,785	)		18,730			23,359
Financing activities:
Proceeds from exercise of employee stock options		983			—			—			—			983
Excess tax benefits from stock-based compensation activity		350			—			—			—			350
Parent company investments, net		—			(114,625	)		133,355			(18,730	)		—
Repayments on long-term debt		—			(20	)		(13	)		—			(33	)
Intercompany debt		(3,268	)		127,344			(124,076	)		—			—
Purchase of common stock held in treasury		(345	)		—			—			—			(345	)
Cash provided by (used in) financing activities		(2,280	)		12,699			9,266			(18,730	)		955
Effect of exchange rate changes on cash and cash equivalents		—			—			1,493			—			1,493
Increase in cash and cash equivalents		—			47,764			9,654			—			57,418
Cash and cash equivalents at beginning of period		—			45,525			10,691			—			56,216
Cash and cash equivalents at end of period	$	—		$	93,289		$	20,345		$	—		$	113,634