Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2012

Condensed Consolidating Financial Statements

Schedule of Condensed consolidating statements of operations

Condensed, Consolidating Statement of Operations

	Three months ended March 31, 2012
	Parent			CFI			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Net sales	$	—		$	915.9		$	473.7		$	453.1		$	(315.1	)	$	1,527.6
Cost of sales		—			520.7			353.1			170.5			(228.5	)		815.8
Gross margin		—			395.2			120.6			282.6			(86.6	)		711.8
Selling, general and administrative expenses		0.5			26.8			1.0			5.5			—			33.8
Other operating—net		—			7.2			3.0			12.1			—			22.3
Total other operating costs and expenses		0.5			34.0			4.0			17.6			—			56.1
Equity in earnings of operating affiliates		—			4.4			3.0			8.1			—			15.5
Operating earnings (loss)		(0.5	)		365.6			119.6			273.1			(86.6	)		671.2
Interest expense		—			28.2			2.2			0.6			(0.1	)		30.9
Interest income		—			(0.2	)		4.0			(4.3	)		0.1			(0.4	)
Net (earnings) of wholly-owned subsidiaries		(368.8	)		(151.5	)		(133.9	)		—			654.2			—
Other non-operating—net		—			0.2			(0.3	)		—			—			(0.1	)
Earnings before income taxes and equity in earnings of non-operating affiliates		368.3			488.9			247.6			276.8			(740.8	)		640.8
Income tax provision (benefit)		(0.1	)		120.1			81.2			5.6			—			206.8
Equity in loss of non-operating affiliates—net of taxes		—			—			—			(2.3	)		—			(2.3	)
Net earnings		368.4			368.8			166.4			268.9			(740.8	)		431.7
Less: Net earnings attributable to noncontrolling interest		—			—			15.7			134.2			(86.6	)		63.3
Net earnings attributable to common stockholders	$	368.4		$	368.8		$	150.7		$	134.7		$	(654.2	)	$	368.4

Condensed, Consolidating Statement of Comprehensive Income

	Three months ended March 31, 2012
	Parent		CFI		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Net earnings	$	368.4	$	368.8	$	166.4	$	268.9	$	(740.8	)	$	431.7
Other comprehensive income		27.2		27.2		24.4		33.6		(84.6	)		27.8
Comprehensive income		395.6		396.0		190.8		302.5		(825.4	)		459.5
Less: Comprehensive income attributable to the noncontrolling interest		—		—		15.7		134.2		(86.1	)		63.8
Comprehensive income attributable to common stockholders	$	395.6	$	396.0	$	175.1	$	168.3	$	(739.3	)	$	395.7

Condensed, Consolidating Statement of Operations

	Three months ended March 31, 2011
	Parent			CFI			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Net sales	$	—		$	631.2		$	442.1		$	408.5		$	(307.8	)	$	1,174.0
Cost of sales		—			359.5			347.9			189.1			(247.5	)		649.0
Gross margin		—			271.7			94.2			219.4			(60.3	)		525.0
Selling, general and administrative expenses		0.5			22.3			3.5			4.7			—			31.0
Restructuring and integration costs		—			1.1			1.0			—			—			2.1
Other operating—net		—			(31.0	)		—			—			—			(31.0	)
Total other operating costs and expenses		0.5			(7.6	)		4.5			4.7			—			2.1
Equity in earnings of operating affiliates		—			(0.4	)		1.0			10.9			—			11.5
Operating earnings (loss)		(0.5	)		278.9			90.7			225.6			(60.3	)		534.4
Interest expense		—			51.2			0.4			0.6			(0.1	)		52.1
Interest income		—			(0.3	)		4.4			(4.5	)		0.1			(0.3	)
Net (earnings) of wholly-owned subsidiaries		(282.4	)		(144.5	)		(143.1	)		—			570.0			—
Other non-operating—net		—			—			(0.3	)		—			—			(0.3	)
Earnings before income taxes and equity in earnings of non-operating affiliates		281.9			372.5			229.3			229.5			(630.3	)		482.9
Income tax provision (benefit)		(0.1	)		90.1			67.1			1.7			—			158.8
Equity in earnings of non-operating affiliates—net of taxes		—			—			—			8.5			—			8.5
Net earnings		282.0			282.4			162.2			236.3			(630.3	)		332.6
Less: Net earnings attributable to noncontrolling interest		—			—			18.2			92.7			(60.3	)		50.6
Net earnings attributable to common stockholders	$	282.0		$	282.4		$	144.0		$	143.6		$	(570.0	)	$	282.0

Condensed, Consolidating Statement of Comprehensive Income

	Three months ended March 31, 2011
	Parent		CFI		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
	(in millions)
Net earnings	$	282.0	$	282.4	$	162.2	$	236.3	$	(630.3	)	$	332.6
Other comprehensive income		26.5		26.5		23.6		30.4		(79.8	)		27.2
Comprehensive income		308.5		308.9		185.8		266.7		(710.1	)		359.8
Less: Comprehensive income attributable to the noncontrolling interest		—		—		18.2		92.7		(59.6	)		51.3
Comprehensive income attributable to common stockholders	$	308.5	$	308.9	$	167.6	$	174.0	$	(650.5	)	$	308.5

Schedule of condensed consolidating balance sheets

Condensed, Consolidating Balance Sheet

	March 31, 2012
	Parent			CFI			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations and Reclassifications			Consolidated
	(in millions)
Assets
Current assets:
Cash and cash equivalents	$	—		$	306.2		$	573.7	$	833.4	$	—		$	1,713.3
Accounts receivable—net		—			197.0			409.0		566.7		(707.8	)		464.9
Inventories—net		—			184.5			51.7		29.3		—			265.5
Prepaid income taxes		—			348.1			—		—		(348.1	)		—
Other		—			4.0			5.5		5.2		—			14.7
Total current assets		—			1,039.8			1,039.9		1,434.6		(1,055.9	)		2,458.4
Property, plant and equipment—net		—			777.9			1,563.2		1,371.4		—			3,712.5
Asset retirement obligation funds		—			147.6			—		—		—			147.6
Investments in and advances to unconsolidated affiliates		3,903.0			5,661.6			1,224.7		923.8		(10,778.4	)		934.7
Investments in auction rate securities		—			71.1			—		—		—			71.1
Due from affiliates		1,029.1			—			1,523.0		—		(2,552.1	)		—
Goodwill		—			0.9			2,063.6		—		—			2,064.5
Deferred income taxes		—			44.6			—		—		(44.6	)		—
Other assets		—			89.8			111.5		26.8		—			228.1
Total assets	$	4,932.1		$	7,833.3		$	7,525.9	$	3,756.6	$	(14,431.0	)	$	9,616.9
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses	$	0.1		$	226.8		$	67.3	$	47.3	$	(22.2	)	$	319.3
Income taxes payable		—			—			479.2		8.6		(348.1	)		139.7
Customer advances		—			290.5			87.3		22.1		—			399.9
Notes payable		—			300.0			—		—		(300.0	)		—
Deferred income taxes		—			106.7			—		—		—			106.7
Distributions payable to noncontrolling interest		—			—			—		586.3		(433.2	)		153.1
Other		—			108.5			—		23.3		—			131.8
Total current liabilities		0.1			1,032.5			633.8		687.6		(1,103.5	)		1,250.5
Notes payable		—			—			—		14.5		(9.6	)		4.9
Long-term debt		—			1,600.0			13.0		—		—			1,613.0
Deferred income taxes		—			—			819.0		173.8		(44.6	)		948.2
Due to affiliates		—			1,030.4			—		1,521.7		(2,552.1	)		—
Other noncurrent liabilities		—			267.4			135.4		36.6		—			439.4
Equity:
Stockholders' equity:
Preferred stock		—			—			—		65.3		(65.3	)		—
Common stock		0.7			—			153.1		4.3		(157.4	)		0.7
Paid-in capital		2,820.3			739.8			4,450.2		987.2		(6,177.3	)		2,820.2
Retained earnings		3,183.2			3,235.2			946.1		248.3		(4,429.6	)		3,183.2
Treasury stock		(1,000.2	)		—			—		—		—			(1,000.2	)
Accumulated other comprehensive income (loss)		(72.0	)		(72.0	)		11.3		17.3		43.4			(72.0	)
Total stockholders' equity		4,932.0			3,903.0			5,560.7		1,322.4		(10,786.2	)		4,931.9
Noncontrolling interest		—			—			364.0		—		65.0			429.0
Total equity		4,932.0			3,903.0			5,924.7		1,322.4		(10,721.2	)		5,360.9
Total liabilities and equity	$	4,932.1		$	7,833.3		$	7,525.9	$	3,756.6	$	(14,431.0	)	$	9,616.9

Condensed, Consolidating Balance Sheet

	December 31, 2011
	Parent			CFI			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations and Reclassifications			Consolidated
	(in millions)
Assets
Current assets:
Cash and cash equivalents	$	—		$	98.7		$	300.2		$	808.1		$	—		$	1,207.0
Accounts receivable		—			76.9			367.4			439.0			(613.9	)		269.4
Inventories—net		—			212.6			62.9			28.7			—			304.2
Prepaid income taxes		—			289.4			—			—			(289.4	)		—
Other		—			6.0			6.6			5.4			—			18.0
Total current assets		—			683.6			737.1			1,281.2			(903.3	)		1,798.6
Property, plant and equipment—net		—			767.7			1,592.4			1,375.9			—			3,736.0
Deferred income taxes		—			26.1			—			—			(26.1	)		—
Asset retirement obligation funds		—			145.4			—			—			—			145.4
Investments in and advances to unconsolidated affiliates		3,533.4			5,484.7			1,346.1			919.4			(10,355.0	)		928.6
Investments in auction rate securities		—			70.9			—			—			—			70.9
Due from affiliates		1,013.8			—			1,398.3			—			(2,412.1	)		—
Goodwill		—			0.9			2,063.6			—			—			2,064.5
Other assets		—			91.4			113.8			25.3			—			230.5
Total assets	$	4,547.2		$	7,270.7		$	7,251.3		$	3,601.8		$	(13,696.5	)	$	8,974.5
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses	$	0.1		$	216.3		$	74.7		$	58.4		$	(21.8	)	$	327.7
Income taxes payable		—						396.9			21.0			(289.4	)		128.5
Customer advances		—			184.3			65.1			7.8			—			257.2
Notes payable		—			300.0			—			—			(300.0	)		—
Deferred income taxes		—			90.1			—			—			—			90.1
Distributions payable to noncontrolling interest		—			—			—			441.7			(292.0	)		149.7
Other		—			66.0			—			12.0			—			78.0
Total current liabilities		0.1			856.7			536.7			540.9			(903.2	)		1,031.2
Notes payable		—			—			—			14.2			(9.4	)		4.8
Long-term debt		—			1,600.0			13.0			—			—			1,613.0
Deferred income taxes		—			—			811.9			171.0			(26.1	)		956.8
Due to affiliates		—			1,014.8			—			1,397.3			(2,412.1	)		—
Other noncurrent liabilities		—			265.8			135.1			34.9			—			435.8
Equity:
Stockholders' equity:
Preferred stock		—			—			—			65.3			(65.3	)		—
Common stock		0.7			—			153.1			33.2			(186.3	)		0.7
Paid-in capital		2,804.8			739.9			4,450.2			1,098.0			(6,288.1	)		2,804.8
Retained earnings		2,841.0			2,892.7			795.2			263.3			(3,951.2	)		2,841.0
Treasury stock		(1,000.2	)		—			—			—			—			(1,000.2	)
Accumulated other comprehensive income (loss)		(99.2	)		(99.2	)		(13.1	)		(16.3	)		128.5			(99.3	)
Total stockholders' equity		4,547.1			3,533.4			5,385.4			1,443.5			(10,362.4	)		4,547.0
Noncontrolling interest		—			—			369.2			—			16.7			385.9
Total equity		4,547.1			3,533.4			5,754.6			1,443.5			(10,345.7	)		4,932.9
Total liabilities and equity	$	4,547.2		$	7,270.7		$	7,251.3		$	3,601.8		$	(13,696.5	)	$	8,974.5

Schedule of statements of cash flows

Condensed, Consolidating Statement of Cash Flows

	Three months ended March 31, 2012
	Parent			CFI			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating Activities:
Net earnings	$	368.4		$	368.8		$	166.4		$	268.9		$	(740.8	)	$	431.7
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, depletion and amortization		—			29.4			38.3			35.4			—			103.1
Deferred income taxes		—			(3.7	)		(1.4	)		(1.2	)		—			(6.3	)
Stock compensation expense		2.6			—			—			0.6			—			3.2
Excess tax benefit from stock-based compensation		(9.4	)		—			—			—			—			(9.4	)
Unrealized loss (gain) on derivatives		—			44.4			—			11.5			—			55.9
(Gain) loss on disposal of property, plant and equipment and non-core assets		—			0.9			3.0			—			— —			3.9
Undistributed (earnings) of affiliates—net		(368.8	)		(242.7	)		(135.8	)		4.7			740.8			(1.8	)
Due to/from affiliates—net		(5.9	)		6.2			130.9			(131.2	)		—			—
Changes in:
Accounts receivable		—			(24.9	)		(41.6	)		(123.7	)		(1.5	)		(191.7	)
Margin deposits		—			0.8			—			—			—			0.8
Inventories		—			32.5			15.5			(4.5	)		—			43.5
Accrued income taxes		—			(48.6	)		82.3			(12.9	)		—			20.8
Accounts payable and accrued expenses		0.2			8.4			(7.2	)		(12.2	)		1.5			(9.3	)
Customer advances—net		—			106.2			22.2			14.1			—			142.5
Other—net		—			3.9			33.6			(21.2	)		—			16.3
Net cash provided by (used in) operating activities		(12.9	)		281.6			306.2			28.3			—			603.2
Investing Activities:
Additions to property, plant and equipment		—			(42.3	)		(11.8	)		(10.2	)		—			(64.3	)
Proceeds from sale of property, plant and equipment and non-core assets		—			3.9			—			—			—			3.9
Sales and maturities of short-term and auction rate securities		—			—			—			—			—			—
Deposit to asset retirement funds		—			(2.2	)		—			—			—			(2.2	)
Other—net		—			—			—			—			—			—
Net cash (used in) provided by investing activities		—			(40.6	)		(11.8	)		(10.2	)		—			(62.6	)
Financing Activities:
Payments of long-term debt		—			—			—			—			—			—
Dividends paid on common stock		(26.2	)		—			—			—			—			(26.2	)
Dividends to/from affiliates		26.2			(26.2	)		—			—			—			—
Distributions to/from noncontrolling interest		—			—			(20.9	)		—			—			(20.9	)
Issuances of common stock under employee stock plans		3.5			—			—			—			—			3.5
Excess tax benefit from stock-based compensation		9.4			—			—			—			—			9.4
Other—net		—			—			—			—			—			—
Net cash (used in) provided by financing activities		12.9			(26.2	)		(20.9	)		—			—			(34.2	)
Effect of exchange rate changes on cash and cash equivalents		—			(7.3	)		—			7.2			—			(0.1	)
Increase in cash and cash equivalents		—			207.5			273.5			25.3			—			506.3
Cash and cash equivalents at beginning of period		—			98.7			300.2			808.1			—			1,207.0
Cash and cash equivalents at end of period	$	—		$	306.2		$	573.7		$	833.4		$	—		$	1,713.3

Condensed, Consolidating Statement of Cash Flows

	Three months ended March 31, 2011
	Parent			CFI			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
	(in millions)
Operating Activities:
Net earnings	$	282.0		$	282.4		$	162.2		$	236.3		$	(630.3	)	$	332.6
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation, depletion and amortization		—			49.5			33.6			35.4			—			118.5
Deferred income taxes		2.2			9.0			10.2			(4.8	)		—			16.6
Stock compensation expense		2.4			—			—			—			—			2.4
Excess tax benefit from stock-based compensation		(6.0	)		—			—			—			—			(6.0	)
Unrealized (gain) loss on derivatives		—			1.1			(0.4	)		(1.4	)		—			(0.7	)
(Gain) on disposal of property, plant and equipment		—			(32.7	)		—			—			—			(32.7	)
Undistributed (earnings) loss of affiliates—net		(282.4	)		(205.0	)		(144.1	)		(23.7	)		630.3			(24.9	)
Due to/from affiliates—net		(7.1	)		7.4			55.9			(56.2	)		—			—
Changes in (net of effects of acquisition):
Accounts receivable		—			228.9			(15.4	)		(66.5	)		(165.3	)		(18.3	)
Margin deposits		—			2.7			—			—			—			2.7
Inventories		—			(99.2	)		(24.7	)		0.5			—			(123.4	)
Accrued income taxes		—			15.1			49.5			6.6			—			71.2
Accounts payable and accrued expenses		—			33.2			(177.0	)		(7.3	)		165.3			14.2
Customer advances—net		—			218.4			116.8			(19.5	)		—			315.7
Other—net		—			(2.2	)		(3.6	)		9.1			—			3.3
Net cash provided by (used in) operating activities		(8.9	)		508.6			63.0			108.5			—			671.2
Investing Activities:
Additions to property, plant and equipment		—			(25.8	)		(24.0	)		(5.1	)		—			(54.9	)
Proceeds from sale of property, plant and equipment and non-core assets		—			39.2			—			—			—			39.2
Sales and maturities of short-term and auction rate securities		—			0.5			—			—			—			0.5
Other—net		—			—			—			31.3			—			31.3
Net cash provided by (used in) investing activities		—			13.9			(24.0	)		26.2			—			16.1
Financing Activities:
Proceeds from long-term borrowings		—			—			—			—			—			—
Payments of long-term debt		—			(346.0	)		—			—			—			(346.0	)
Dividends paid on common stock		(7.1	)		—			—			—			—			(7.1	)
Dividends to/from affiliates		7.1			(7.1	)		—			—			—			—
Distributions to noncontrolling interest		—			—			(6.3	)		—			—			(6.3	)
Issuances of common stock under employee stock plans		2.9			—			—			—			—			2.9
Excess tax benefit from stock-based compensation		6.0			—			—			—			—			6.0
Net cash provided by (used in) financing activities		8.9			(353.1	)		(6.3	)		—			—			(350.5	)
Effect of exchange rate changes on cash and cash equivalents		—			(5.8	)		—			5.4			—			(0.4	)
Increase (decrease) in cash and cash equivalents		—			163.6			32.7			140.1			—			336.4
Cash and cash equivalents at beginning of period		—			136.2			164.0			497.5			—			797.7
Cash and cash equivalents at end of period	$	—		$	299.8		$	196.7		$	637.6		$	—		$	1,134.1