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Consolidating Guarantor Financial Information
3 Months Ended
Mar. 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Consolidating Guarantor Financial Information
Consolidating Guarantor Financial Information
The 6.625% Notes and the 5.875% Notes (collectively, the “Notes”) were issued by Celanese US (the “Issuer”) and are guaranteed by Celanese Corporation (the “Parent Guarantor”) and the Subsidiary Guarantors (Note 9). The Issuer and Subsidiary Guarantors are 100% owned subsidiaries of the Parent Guarantor. The Parent Guarantor and Subsidiary Guarantors have guaranteed the Notes fully and unconditionally and jointly and severally.
For cash management purposes, the Company transfers cash between Parent Guarantor, Issuer, Subsidiary Guarantors and non-guarantors through intercompany financing arrangements, contributions or declaration of dividends between the respective parent and its subsidiaries. The transfer of cash under these activities facilitates the ability of the recipient to make specified third-party payments. As a result, the Company presents such intercompany financing activities, contributions and dividends within the category where the ultimate use of cash to third parties is presented in the accompanying unaudited interim consolidated statements of cash flows.
The Company has not presented separate financial information and other disclosures for each of its Subsidiary Guarantors because it believes such financial information and other disclosures would not provide investors with any additional information that would be material in evaluating the sufficiency of the guarantees.
The unaudited interim consolidating financial statements for the Parent Guarantor, the Issuer, the Subsidiary Guarantors and the non-guarantors are as follows:










CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF OPERATIONS
 
Three Months Ended March 31, 2012
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net sales
—

 
—

 
640

 
1,249

 
(256
)
 
1,633

Cost of sales
—

 
—

 
(482
)
 
(1,148
)
 
267

 
(1,363
)
Gross profit
—

 
—

 
158

 
101

 
11

 
270

Selling, general and administrative expenses
—

 
—

 
(46
)
 
(88
)
 
—

 
(134
)
Amortization of intangible assets
—

 
—

 
(5
)
 
(8
)
 
—

 
(13
)
Research and development expenses
—

 
—

 
(16
)
 
(10
)
 
—

 
(26
)
Other (charges) gains, net
—

 
—

 
1

 
(1
)
 
—

 
—

Foreign exchange gain (loss), net
—

 
—

 
—

 
1

 
—

 
1

Gain (loss) on disposition of businesses and assets, net
—

 
—

 
—

 
—

 
—

 
—

Operating profit (loss)
—

 
—

 
92

 
(5
)
 
11

 
98

Equity in net earnings (loss) of affiliates
183

 
197

 
40

 
42

 
(411
)
 
51

Interest expense
—

 
(48
)
 
(11
)
 
(18
)
 
32

 
(45
)
Refinancing expense
—

 
—

 
—

 
—

 
—

 
—

Interest income
—

 
15

 
16

 
2

 
(32
)
 
1

Dividend income - cost investments
—

 
—

 
—

 
—

 
—

 
—

Other income (expense), net
—

 
1

 
—

 
1

 
—

 
2

Earnings (loss) from continuing operations before tax
183

 
165

 
137

 
22

 
(400
)
 
107

Income tax (provision) benefit
—

 
18

 
62

 
(1
)
 
(3
)
 
76

Earnings (loss) from continuing operations
183

 
183

 
199

 
21

 
(403
)
 
183

Earnings (loss) from operation of discontinued operations
—

 
—

 
—

 
—

 
—

 
—

Gain (loss) on disposition of discontinued operations
—

 
—

 
—

 
—

 
—

 
—

Income tax (provision) benefit from discontinued operations
—

 
—

 
—

 
—

 
—

 
—

Earnings (loss) from discontinued operations
—

 
—

 
—

 
—

 
—

 
—

Net earnings (loss)
183

 
183

 
199

 
21

 
(403
)
 
183

Net (earnings) loss attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Net earnings (loss) attributable to Celanese Corporation
183

 
183

 
199

 
21

 
(403
)
 
183



CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF OPERATIONS
 
Three Months Ended March 31, 2011
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net sales
—

 
—

 
615

 
1,231

 
(257
)
 
1,589

Cost of sales
—

 
—

 
(436
)
 
(1,051
)
 
249

 
(1,238
)
Gross profit
—

 
—

 
179

 
180

 
(8
)
 
351

Selling, general and administrative expenses
—

 
—

 
(39
)
 
(89
)
 
—

 
(128
)
Amortization of intangible assets
—

 
—

 
(4
)
 
(12
)
 
—

 
(16
)
Research and development expenses
—

 
—

 
(13
)
 
(10
)
 
—

 
(23
)
Other (charges) gains, net
—

 
—

 
19

 
(16
)
 
—

 
3

Foreign exchange gain (loss), net
—

 
—

 
—

 
1

 
—

 
1

Gain (loss) on disposition of businesses and assets, net
—

 
—

 
—

 
—

 
—

 
—

Operating profit (loss)
—

 
—

 
142

 
54

 
(8
)
 
188

Equity in net earnings (loss) of affiliates
142

 
178

 
28

 
36

 
(341
)
 
43

Interest expense
—

 
(51
)
 
(12
)
 
(10
)
 
18

 
(55
)
Refinancing expense
—

 
—

 
—

 
—

 
—

 
—

Interest income
—

 
6

 
9

 
4

 
(18
)
 
1

Dividend income - cost investments
—

 
—

 
—

 
—

 
—

 
—

Other income (expense), net
—

 
2

 
—

 
1

 
—

 
3

Earnings (loss) from continuing operations before tax
142

 
135

 
167

 
85

 
(349
)
 
180

Income tax (provision) benefit
—

 
7

 
(44
)
 
(6
)
 
1

 
(42
)
Earnings (loss) from continuing operations
142

 
142

 
123

 
79

 
(348
)
 
138

Earnings (loss) from operation of discontinued operations
—

 
—

 
6

 
—

 
—

 
6

Gain (loss) on disposition of discontinued operations
—

 
—

 
—

 
—

 
—

 
—

Income tax (provision) benefit from discontinued operations
—

 
—

 
(2
)
 
—

 
—

 
(2
)
Earnings (loss) from discontinued operations
—

 
—

 
4

 
—

 
—

 
4

Net earnings (loss)
142

 
142

 
127

 
79

 
(348
)
 
142

Net (earnings) loss attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Net earnings (loss) attributable to Celanese Corporation
142

 
142

 
127

 
79

 
(348
)
 
142


CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 
Three Months Ended March 31, 2012
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net earnings (loss)
183

 
183

 
199

 
21

 
(403
)
 
183

Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss) on marketable securities
—

 
—

 
—

 
—

 
—

 
—

Foreign currency translation
26

 
26

 
(11
)
 
(6
)
 
(9
)
 
26

Unrealized gain (loss) on interest rate swaps
1

 
1

 
—

 
—

 
(1
)
 
1

Pension and postretirement benefits
6

 
6

 
6

 
(2
)
 
(10
)
 
6

Total other comprehensive income (loss), net of tax
33

 
33

 
(5
)
 
(8
)
 
(20
)
 
33

Total comprehensive income (loss), net of tax
216

 
216

 
194

 
13

 
(423
)
 
216

Comprehensive (income) loss attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Comprehensive income (loss) attributable to Celanese Corporation
216

 
216

 
194

 
13

 
(423
)
 
216

CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 
Three Months Ended March 31, 2011
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net earnings (loss)
142

 
142

 
127

 
79

 
(348
)
 
142

Other comprehensive income (loss), net of tax
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss) on marketable securities
—

 
—

 
—

 
—

 
—

 
—

Foreign currency translation
58

 
58

 
(19
)
 
77

 
(116
)
 
58

Unrealized gain (loss) on interest rate swaps
9

 
9

 
—

 
—

 
(9
)
 
9

Pension and postretirement benefits
3

 
3

 
3

 
—

 
(6
)
 
3

Total other comprehensive income (loss), net of tax
70

 
70

 
(16
)
 
77

 
(131
)
 
70

Total comprehensive income (loss), net of tax
212

 
212

 
111

 
156

 
(479
)
 
212

Comprehensive (income) loss attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Comprehensive income (loss) attributable to Celanese Corporation
212

 
212

 
111

 
156

 
(479
)
 
212


CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATING BALANCE SHEETS
 
As of March 31, 2012
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
ASSETS
 

 
 

 
 

 
 

 
 

 
 

Current assets
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
—

 
—

 
135

 
592

 
—

 
727

Trade receivables - third party and affiliates
—

 
—

 
322

 
729

 
(123
)
 
928

Non-trade receivables, net
—

 
16

 
1,671

 
532

 
(2,012
)
 
207

Inventories, net
—

 
—

 
205

 
602

 
(54
)
 
753

Deferred income taxes
—

 
—

 
87

 
17

 
—

 
104

Marketable securities, at fair value
—

 
—

 
63

 
—

 
—

 
63

Other assets
—

 
4

 
14

 
34

 
(17
)
 
35

Total current assets
—

 
20

 
2,497

 
2,506

 
(2,206
)
 
2,817

Investments in affiliates
1,515

 
3,149

 
1,485

 
549

 
(5,936
)
 
762

Property, plant and equipment, net
—

 
—

 
756

 
2,573

 
—

 
3,329

Deferred income taxes
—

 
17

 
524

 
21

 
—

 
562

Other assets
—

 
1,947

 
133

 
321

 
(2,033
)
 
368

Goodwill
—

 
—

 
306

 
477

 
—

 
783

Intangible assets, net
—

 
—

 
79

 
123

 
—

 
202

Total assets
1,515

 
5,133

 
5,780

 
6,570

 
(10,175
)
 
8,823

LIABILITIES AND EQUITY
Current liabilities
 

 
 

 
 

 
 

 
 

 
 

Short-term borrowings and current installments of long-term debt - third party and affiliates
—

 
1,526

 
180

 
137

 
(1,688
)
 
155

Trade payables - third party and affiliates
—

 
—

 
267

 
614

 
(123
)
 
758

Other liabilities
—

 
64

 
333

 
476

 
(356
)
 
517

Deferred income taxes
—

 
16

 
(16
)
 
19

 
—

 
19

Income taxes payable
(29
)
 
(376
)
 
415

 
14

 
(2
)
 
22

Total current liabilities
(29
)
 
1,230

 
1,179

 
1,260

 
(2,169
)
 
1,471

Noncurrent liabilities
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
2,377

 
835

 
1,691

 
(2,028
)
 
2,875

Deferred income taxes
—

 
—

 
42

 
96

 
—

 
138

Uncertain tax positions
3

 
1

 
32

 
140

 
—

 
176

Benefit obligations
—

 
—

 
1,285

 
150

 
—

 
1,435

Other liabilities
—

 
10

 
105

 
1,085

 
(13
)
 
1,187

Total noncurrent liabilities
3

 
2,388

 
2,299

 
3,162

 
(2,041
)
 
5,811

Total Celanese Corporation stockholders’ equity
1,541

 
1,515

 
2,302

 
2,148

 
(5,965
)
 
1,541

Noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Total equity
1,541

 
1,515

 
2,302

 
2,148

 
(5,965
)
 
1,541

Total liabilities and equity
1,515

 
5,133

 
5,780

 
6,570

 
(10,175
)
 
8,823


CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED CONSOLIDATING BALANCE SHEETS
 
As of December 31, 2011
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
ASSETS
 

 
 

 
 

 
 

 
 

 
 

Current assets
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
—

 
—

 
133

 
549

 
—

 
682

Trade receivables - third party and affiliates
—

 
—

 
297

 
694

 
(120
)
 
871

Non-trade receivables, net
—

 
10

 
1,651

 
562

 
(1,988
)
 
235

Inventories, net
—

 
—

 
187

 
590

 
(65
)
 
712

Deferred income taxes
—

 
—

 
87

 
17

 
—

 
104

Marketable securities, at fair value
—

 
—

 
64

 
—

 
—

 
64

Other assets
—

 
6

 
18

 
45

 
(34
)
 
35

Total current assets
—

 
16

 
2,437

 
2,457

 
(2,207
)
 
2,703

Investments in affiliates
1,315

 
2,978

 
1,530

 
535

 
(5,534
)
 
824

Property, plant and equipment, net
—

 
—

 
735

 
2,534

 
—

 
3,269

Deferred income taxes
—

 
17

 
382

 
22

 
—

 
421

Other assets
—

 
1,903

 
132

 
296

 
(1,987
)
 
344

Goodwill
—

 
—

 
298

 
462

 
—

 
760

Intangible assets, net
—

 
—

 
69

 
128

 
—

 
197

Total assets
1,315

 
4,914

 
5,583

 
6,434

 
(9,728
)
 
8,518

LIABILITIES AND EQUITY
Current liabilities
 

 
 

 
 

 
 

 
 

 
 

Short-term borrowings and current installments of long-term debt - third party and affiliates
—

 
1,492

 
176

 
131

 
(1,655
)
 
144

Trade payables - third party and affiliates
—

 
—

 
258

 
535

 
(120
)
 
673

Other liabilities
—

 
63

 
353

 
506

 
(383
)
 
539

Deferred income taxes
—

 
16

 
(16
)
 
17

 
—

 
17

Income taxes payable
(29
)
 
(373
)
 
384

 
35

 
(5
)
 
12

Total current liabilities
(29
)
 
1,198

 
1,155

 
1,224

 
(2,163
)
 
1,385

Noncurrent liabilities
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
2,372

 
834

 
1,650

 
(1,983
)
 
2,873

Deferred income taxes
—

 
—

 
—

 
92

 
—

 
92

Uncertain tax positions
3

 
16

 
27

 
136

 
—

 
182

Benefit obligations
—

 
—

 
1,346

 
146

 
—

 
1,492

Other liabilities
—

 
13

 
99

 
1,055

 
(14
)
 
1,153

Total noncurrent liabilities
3

 
2,401

 
2,306

 
3,079

 
(1,997
)
 
5,792

Total Celanese Corporation stockholders’ equity
1,341

 
1,315

 
2,122

 
2,131

 
(5,568
)
 
1,341

Noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

Total equity
1,341

 
1,315

 
2,122

 
2,131

 
(5,568
)
 
1,341

Total liabilities and equity
1,315

 
4,914

 
5,583

 
6,434

 
(9,728
)
 
8,518

CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF CASH FLOWS
 
Three Months Ended March 31, 2012
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net cash provided by (used in) operating activities
—

 
—

 
109

 
106

 
—

 
215

Investing activities
 

 
 

 
 

 
 

 
 

 
 

Capital expenditures on property, plant and equipment
—

 
—

 
(54
)
 
(52
)
 
—

 
(106
)
Acquisitions, net of cash acquired
—

 
—

 
(23
)
 
—

 
—

 
(23
)
Proceeds from sale of businesses and assets, net
—

 
—

 
—

 
—

 
—

 
—

Deferred proceeds from Ticona Kelsterbach plant relocation
—

 
—

 
—

 
—

 
—

 
—

Capital expenditures related to Ticona Kelsterbach plant relocation
—

 
—

 
—

 
(21
)
 
—

 
(21
)
Other, net
—

 
—

 
(3
)
 
(2
)
 
—

 
(5
)
Net cash provided by (used in) investing activities
—

 
—

 
(80
)
 
(75
)
 
—

 
(155
)
Financing activities
 

 
 

 
 

 
 

 
 

 
 

Short-term borrowings (repayments), net
—

 
—

 
3

 
7

 
—

 
10

Proceeds from long-term debt
—

 
—

 
—

 
—

 
—

 
—

Repayments of long-term debt
—

 
(3
)
 
(1
)
 
(4
)
 
—

 
(8
)
Refinancing costs
—

 
—

 
—

 
—

 
—

 
—

Proceeds and repayments from intercompany financing activities
—

 
3

 
(3
)
 
—

 
—

 
—

Purchases of treasury stock, including related fees
(20
)
 
—

 
—

 
—

 
—

 
(20
)
Dividends from subsidiary
23

 
23

 
—

 
—

 
(46
)
 
—

Dividends to parent
—

 
(23
)
 
(23
)
 
—

 
46

 
—

Contributions from parent to subsidiary
—

 
—

 
(3
)
 
3

 
—

 
—

Stock option exercises
7

 
—

 
—

 
—

 
—

 
7

Series A common stock dividends
(10
)
 
—

 
—

 
—

 
—

 
(10
)
Preferred stock dividends
—

 
—

 
—

 
—

 
—

 
—

Other, net
—

 
—

 
—

 
—

 
—

 
—

Net cash provided by (used in) financing activities
—

 
—

 
(27
)
 
6

 
—

 
(21
)
Exchange rate effects on cash and cash equivalents
—

 
—

 
—

 
6

 
—

 
6

Net increase (decrease) in cash and cash equivalents
—

 
—

 
2

 
43

 
—

 
45

Cash and cash equivalents as of beginning of period
—

 
—

 
133

 
549

 
—

 
682

Cash and cash equivalents as of end of period
—

 
—

 
135

 
592

 
—

 
727

CELANESE CORPORATION AND SUBSIDIARIES
UNAUDITED INTERIM CONSOLIDATING STATEMENTS OF CASH FLOWS
 
Three Months Ended March 31, 2011
 
Parent
Guarantor
 
Issuer
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Consolidated
 
(In $ millions)
Net cash provided by (used in) operating activities
—

 
—

 
102

 
30

 
—

 
132

Investing activities
 

 
 

 
 

 
 

 
 

 
 

Capital expenditures on property, plant and equipment
—

 
—

 
(32
)
 
(45
)
 
—

 
(77
)
Acquisitions, net of cash acquired
—

 
—

 
(8
)
 
—

 
—

 
(8
)
Proceeds from sale of businesses and assets, net
—

 
—

 
1

 
3

 
—

 
4

Deferred proceeds from Ticona Kelsterbach plant relocation
—

 
—

 
—

 
—

 
—

 
—

Capital expenditures related to Ticona Kelsterbach plant relocation
—

 
—

 
—

 
(54
)
 
—

 
(54
)
Other, net
—

 
—

 
(2
)
 
(14
)
 
—

 
(16
)
Net cash provided by (used in) investing activities
—

 
—

 
(41
)
 
(110
)
 
—

 
(151
)
Financing activities
 

 
 

 
 

 
 

 
 

 
 

Short-term borrowings (repayments), net
—

 
—

 
(6
)
 
1

 
—

 
(5
)
Proceeds from long term debt
—

 
—

 
—

 
11

 
—

 
11

Repayments of long-term debt
—

 
(5
)
 
—

 
(4
)
 
—

 
(9
)
Refinancing costs
—

 
—

 
—

 
—

 
—

 
—

Proceeds and repayments from intercompany financing activities
—

 
5

 
(5
)
 
—

 
—

 
—

Purchases of treasury stock, including related fees
(3
)
 
—

 
—

 
—

 
—

 
(3
)
Dividends from subsidiary
9

 
9

 
—

 
—

 
(18
)
 
—

Dividends to parent
—

 
(9
)
 
(9
)
 
—

 
18

 
—

Contributions from parent to subsidiary
—

 
—

 
—

 
—

 
—

 
—

Stock option exercises
5

 
—

 
—

 
—

 
—

 
5

Series A common stock dividends
(8
)
 
—

 
—

 
—

 
—

 
(8
)
Preferred stock dividends
—

 
—

 
—

 
—

 
—

 
—

  Other, net
—

 
—

 
(2
)
 
—

 
—

 
(2
)
Net cash provided by (used in) financing activities
3

 
—

 
(22
)
 
8

 
—

 
(11
)
Exchange rate effects on cash and cash equivalents
—

 
—

 
—

 
12

 
—

 
12

Net increase (decrease) in cash and cash equivalents
3

 
—

 
39

 
(60
)
 
—

 
(18
)
Cash and cash equivalents as of beginning of period
—

 
—

 
128

 
612

 
—

 
740

Cash and cash equivalents as of end of period
3

 
—

 
167

 
552

 
—

 
722