Condensed Consolidating Guarantor Financial Statements (Tables)

9 Months Ended

Sep. 30, 2018

Condensed Consolidating Guarantor Financial Statements [Abstract]

Schedule of Condensed Balance Sheet [Table Text Block]

Condensed Consolidating Guarantor Balance Sheets

	September 30, 2018
	Parent		Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	21,397	$	—	$	51,295	$	(2,704	)	$	69,988
Accounts receivable	1		545,033		117,338		—			662,372
Receivable from affiliates	38		3		146		—			187
Inventories	—		49,232		—		—			49,232
Other current assets	5,672		9,321		4,327		—			19,320
Total current assets	27,108		603,589		173,106		(2,704		)	801,099
Property, plant and equipment, net	7,014		1,003,593		2,440,149		—			3,450,756
Equity method investments	3,677,582		842,031		—		(4,242,592		)	277,021
Goodwill	—		—		257,302		—			257,302
Other intangible assets	6		121,633		251,800		—			373,439
Other noncurrent assets, net	36,859		3,262		98,037		—			138,158
Total assets	$	3,748,569	$	2,574,108	$	3,220,394	$	(4,245,296	)	$	5,297,775
LIABILITIES, PREFERRED STOCK AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	535	$	493,015	$	51,485	$	—		$	545,035
Payable to affiliates	—		1,294		—		—			1,294
Accrued liabilities	25,827		20,771		64,853		4			111,455
Other current liabilities	3,431		7,011		13,649		—			24,091
Total current liabilities	29,793		522,091		129,987		4			681,875
Long-term debt	1,806,432		6,459		813,054		(6,459		)	2,619,486
Deferred income taxes	1,298		—		51,599		—			52,897
Other noncurrent liabilities	1,738		—		32,471		—			34,209
Commitments and contingencies
Preferred stock	353,323		—		—		—			353,323
Total owners’ equity	1,555,985		2,045,558		2,193,283		(4,238,841		)	1,555,985
Total liabilities, preferred stock and owners’ equity	$	3,748,569	$	2,574,108	$	3,220,394	$	(4,245,296	)	$	5,297,775

	December 31, 2017
	Parent			Guarantors		Non-guarantors		Consolidating Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	32,457		$	—	$	69,872	$	(8,630	)	$	93,699
Accounts receivable	(9		)	562,967		90,526		—			653,484
Receivable from affiliates	58			1,421		212		—			1,691
Inventories	—			101,665		—		—			101,665
Current assets held for sale	—			—		38,063		—			38,063
Other current assets	6,671			4,493		3,133		—			14,297
Total current assets	39,177			670,546		201,806		(8,630		)	902,899
Property, plant and equipment, net	8,086			1,002,982		2,304,063		—			3,315,131
Equity method investments	3,085,274			2,110,299		—		(4,910,292		)	285,281
Goodwill	—			—		257,302		—			257,302
Other intangible assets	10			127,783		270,850		—			398,643
Other noncurrent assets, net	45,587			3,097		83,916		—			132,600
Noncurrent assets held for sale	—			—		84,961		—			84,961
Total assets	$	3,178,134		$	3,914,707	$	3,202,898	$	(4,918,922	)	$	5,376,817
LIABILITIES AND OWNERS’ EQUITY
Current liabilities:
Accounts payable	$	646		$	533,651	$	53,601	$	—		$	587,898
Payable to affiliates	10			6,961		—		—			6,971
Accrued liabilities	38,747			26,092		66,570		(2		)	131,407
Current liabilities held for sale	—			—		23,847		—			23,847
Other current liabilities	1,922			5,532		8,984		—			16,438
Total current liabilities	41,325			572,236		153,002		(2		)	766,561
Long-term debt	1,474,491			572,558		829,236		(23,190		)	2,853,095
Deferred income taxes	1,892			—		44,693		—			46,585
Other noncurrent liabilities	2,061			—		36,434		—			38,495
Noncurrent liabilities held for sale	—			—		13,716		—			13,716
Commitments and contingencies
Total owners’ equity	1,658,365			2,769,913		2,125,817		(4,895,730		)	1,658,365
Total liabilities and owners’ equity	$	3,178,134		$	3,914,707	$	3,202,898	$	(4,918,922	)	$	5,376,817

Schedule of Condensed Income Statement [Table Text Block]

Condensed Consolidating Guarantor Statements of Operations

	Three Months Ended September 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	487,676		$	17		$	—		$	487,693
Service	—			39,692			88,148			—			127,840
Lease	—			—			3,937			—			3,937
Other	—			—			14,526			—			14,526
Total revenues	—			527,368			106,628			—			633,996
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			468,841			30			—			468,871
Operating	—			27,806			37,029			—			64,835
General and administrative	6,174			5,640			10,090			—			21,904
Depreciation and amortization	719			19,477			33,402			—			53,598
Loss (gain) on disposal or impairment, net	1,198			(1,581		)	—			—			(383		)
Total expenses	8,091			520,183			80,551			—			608,825
Earnings from equity method investments	28,555			21,966			—			(35,993		)	14,528
Operating income	20,464			29,151			26,077			(35,993		)	39,699
Other expenses (income), net:
Interest expense	19,341			10,400			5,577			—			35,318
Foreign currency transaction gain	(961		)	—			(22		)	—			(983		)
Other income, net	(40		)	(9		)	(351		)	—			(400		)
Total other expenses, net	18,340			10,391			5,204			—			33,935
Income before income taxes	2,124			18,760			20,873			(35,993		)	5,764
Income tax expense (benefit)	(6,337		)	—			3,640			—			(2,697		)
Net income	8,461			18,760			17,233			(35,993		)	8,461
Other comprehensive income (loss), net of income taxes	(6,111		)	87			9,376			—			3,352
Comprehensive income	$	2,350		$	18,847		$	26,609		$	(35,993	)	$	11,813

	Three Months Ended September 30, 2017
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	381,228		$	42,303		$	—		$	423,531
Service	—			34,812			70,475			—			105,287
Lease	—			—			2,646			—			2,646
Other	—			—			14,458			—			14,458
Total revenues	—			416,040			129,882			—			545,922
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			361,675			36,577			—			398,252
Operating	—			28,645			34,021			—			62,666
General and administrative	18,970			5,556			13,863			—			38,389
Depreciation and amortization	610			17,580			31,945			—			50,135
Loss on disposal or impairment, net	—			40,161			1,464			—			41,625
Total expenses	19,580			453,617			117,870			—			591,067
Earnings from equity method investments	(26,856		)	18,094			1,736			24,393			17,367
Operating income	(46,436		)	(19,483		)	13,748			24,393			(27,778		)
Other expenses (income), net:
Interest expense	12,418			15,684			4,826			(217		)	32,711
Foreign currency transaction gain	—			—			(747		)	—			(747		)
Other income, net	(225		)	(8		)	(3,374		)	217			(3,390		)
Total other expenses, net	12,193			15,676			705			—			28,574
Income (loss) before income taxes	(58,629		)	(35,159		)	13,043			24,393			(56,352		)
Income tax expense (benefit)	(39,526		)	—			2,277			—			(37,249		)
Net income (loss)	(19,103		)	(35,159		)	10,766			24,393			(19,103		)
Other comprehensive income (loss), net of income taxes	(5,346		)	(193		)	14,769			—			9,230
Comprehensive income (loss)	$	(24,449	)	$	(35,352	)	$	25,535		$	24,393		$	(9,873	)

	Nine Months Ended September 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	1,390,415		$	31,336		$	—		$	1,421,751
Service	—			118,304			290,395			—			408,699
Lease	—			—			12,517			—			12,517
Other	—			—			48,432			—			48,432
Total revenues	—			1,508,719			382,680			—			1,891,399
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			1,350,821			26,271			—			1,377,092
Operating	—			83,979			140,892			—			224,871
General and administrative	19,149			17,500			34,618			—			71,267
Depreciation and amortization	2,213			57,830			95,846			—			155,889
Loss (gain) on disposal or impairment, net	133,808			(152,634		)	16,701			—			(2,125		)
Total expenses	155,170			1,357,496			314,328			—			1,826,994
Earnings from equity method investments	188,136			50,947			—			(197,590		)	41,493
Operating income	32,966			202,170			68,352			(197,590		)	105,898
Other expenses (income), net:
Interest expense	50,582			45,931			17,410			(240		)	113,683
Foreign currency transaction loss (gain)	5,505			147			(1,027		)	—			4,625
Other income, net	(896		)	(17		)	(1,210		)	240			(1,883		)
Total other expenses, net	55,191			46,061			15,173			—			116,425
Income (loss) before income taxes	(22,225		)	156,109			53,179			(197,590		)	(10,527		)
Income tax expense	5,075			—			11,698			—			16,773
Net income (loss)	(27,300		)	156,109			41,481			(197,590		)	(27,300		)
Other comprehensive income (loss), net of income taxes	(16,202		)	242			43,663			—			27,703
Comprehensive income (loss)	$	(43,502	)	$	156,351		$	85,144		$	(197,590	)	$	403

	Nine Months Ended September 30, 2017
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Revenues:
Product	$	—		$	1,055,387		$	109,511		$	—		$	1,164,898
Service	—			110,411			151,556			—			261,967
Lease	—			—			2,646			—			2,646
Other	—			—			45,600			—			45,600
Total revenues	—			1,165,798			309,313			—			1,475,111
Expenses:
Costs of products sold, exclusive of depreciation and amortization shown below	—			993,838			93,519			—			1,087,357
Operating	—			84,408			103,687			—			188,095
General and administrative	35,513			19,805			31,602			—			86,920
Depreciation and amortization	1,613			52,077			46,646			—			100,336
Loss on disposal or impairment, net	—			42,125			1,676			—			43,801
Total expenses	37,126			1,192,253			277,130			—			1,506,509
Earnings from equity method investments	17,435			52,063			5,402			(22,689		)	52,211
Operating income	(19,691		)	25,608			37,585			(22,689		)	20,813
Other expenses (income), net:
Interest expense	23,009			34,355			3,308			(617		)	60,055
Loss on early extinguishment of debt	19,930			—			—			—			19,930
Foreign currency transaction gain	—			—			(1,758		)	—			(1,758		)
Other income, net	(669		)	(13		)	(4,051		)	617			(4,116		)
Total other expense (income), net	42,270			34,342			(2,501		)	—			74,111
Income (loss) before income taxes	(61,961		)	(8,734		)	40,086			(22,689		)	(53,298		)
Income tax expense (benefit)	(42,192		)	—			8,663			—			(33,529		)
Net income (loss)	(19,769		)	(8,734		)	31,423			(22,689		)	(19,769		)
Other comprehensive income (loss), net of income taxes	(14,296		)	(523		)	39,034			—			24,215
Comprehensive income (loss)	$	(34,065	)	$	(9,257	)	$	70,457		$	(22,689	)	$	4,446

Schedule of Condensed Cash Flow Statement [Table Text Block]

	Nine Months Ended September 30, 2018
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(78,542	)	$	76,038		$	138,919		$	—		$	136,415
Cash flows from investing activities:
Capital expenditures	(1,139		)	(59,609		)	(242,643		)	—			(303,391		)
Proceeds from sale of long-lived assets	—			1,892			(1,646		)	—			246
Proceeds from business divestitures	155,447			6,753			(15,465		)	—			146,735
Contributions to equity method investments	—			(7,466		)	—			—			(7,466		)
Distributions in excess of equity in earnings of affiliates	—			15,730			—			—			15,730
Net cash provided (used in) investing activities	154,308			(42,700		)	(259,754		)	—			(148,146		)
Cash flows from financing activities:
Debt issuance costs	(475		)	—			(4,245		)	—			(4,720		)
Borrowings on credit facilities and issuance of senior notes, net of discount	541,000			—			598,500			—			1,139,500
Principal payments on credit facilities and other obligations	(217,120		)	(565,904		)	(593,625		)	—			(1,376,649		)
Proceeds from issuance preferred stock, net of offering costs	342,299			—			—			—			342,299
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(699		)	—			—			—			(699		)
Dividends paid	(111,445		)	—			—			—			(111,445		)
Proceeds from issuance of common stock under employee stock purchase plan	228			—			—			—			228
Intercompany borrowings (advances), net	(640,614		)	532,580			102,108			5,926			—
Net cash provided by (used in) financing activities	(86,826		)	(33,324		)	102,738			5,926			(11,486		)
Effect of exchange rate changes on cash and cash equivalents	—			(14		)	(480		)	—			(494		)
Change in cash and cash equivalents	(11,060		)	—			(18,577		)	5,926			(23,711		)
Cash and cash equivalents at beginning of period	32,457			—			69,872			(8,630		)	93,699
Cash and cash equivalents at end of period	$	21,397		$	—		$	51,295		$	(2,704	)	$	69,988

	Nine Months Ended September 30, 2017
	Parent			Guarantors			Non-guarantors			Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	(43,276	)	$	81,718		$	53,975		$	—		$	92,417
Cash flows from investing activities:
Capital expenditures	(4,181		)	(91,890		)	(250,133		)	—			(346,204		)
Proceeds from sale of long-lived assets	—			15,530			1,108			—			16,638
Contributions to equity method investments	—			(2,552		)	(16,256		)	—			(18,808		)
Payments to acquire businesses	—			563,783			(856,822		)	—			(293,039		)
Distributions in excess of equity in earnings of affiliates	—			14,348			4,948			—			19,296
Net cash provided by (used in) investing activities	(4,181		)	499,219			(1,117,155		)	—			(622,117		)
Cash flows from financing activities:
Debt issuance costs	(10,839		)	—			—			—			(10,839		)
Borrowings on credit facilities and issuance of senior notes, net of discount	1,333,377			—			20,000			—			1,353,377
Principal payments on credit facilities and other obligations	(710,547		)	(19		)	(1,375		)	—			(711,941		)
Debt extinguishment costs	(16,293		)	—			—			—			(16,293		)
Repurchase of common stock for payment of statutory taxes due on equity-based compensation	(1,361		)	—			—			—			(1,361		)
Dividends paid	(94,714		)	—			—			—			(94,714		)
Proceeds from issuance of common stock under employee stock purchase plan	796			—			—			—			796
Intercompany borrowing (advances), net	(447,367		)	(580,918		)	1,027,698			587			—
Net cash provided by (used in) financing activities	53,052			(580,937		)	1,046,323			587			519,025
Effect of exchange rate changes on cash and cash equivalents	—			—			4,472			—			4,472
Change in cash and cash equivalents	5,595			—			(12,385		)	587			(6,203		)
Cash and cash equivalents at beginning of period	19,002			—			59,796			(4,582		)	74,216
Cash and cash equivalents at end of period	$	24,597		$	—		$	47,411		$	(3,995	)	$	68,013