Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Consolidating Balance Sheet

	Condensed Consolidating Balance Sheet
	As of June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	—		$	34,457		$	—	$	4,207	$	(4,654	)	$	34,010
Accounts receivable, net of allowance		—			4,815			182,082		16,443		—			203,340
Inventories		—			—			181,937		17,902		(290	)		199,549
Prepaid expenses and other current assets		—			10,030			14,925		195		(58	)		25,092
Deferred income taxes		—			31,760			—		—		—			31,760
Income tax receivable		—			2,147			—		—		—			2,147
Total current assets		—			83,209			378,944		38,747		(5,002	)		495,898
Property, plant and equipment, net		—			985			73,999		346		—			75,330
Investment in joint venture		—			—			2,168		—		—			2,168
Investment in subsidiaries		—			591,583			19,336		—		(610,919	)		—
Intercompany accounts		—			—			253,943		—		(253,943	)		—
Goodwill		—			—			4,399		—		—			4,399
Intangible assets, net		—			—			787		—		—			787
Deferred income taxes		—			6,826			—		—		—			6,826
Other noncurrent assets		—			15,878			916		—		—			16,794
Total assets	$	—		$	698,481		$	734,492	$	39,093	$	(869,864	)	$	602,202
Liabilities and (deficit) / equity
Current liabilities:
Accounts payable	$	—		$	290		$	108,410	$	3,283	$	(5,002	)	$	106,981
Accrued liabilities		—			17,494			34,455		736		—			52,685
Accrued interest		—			3,395			—		—		—			3,395
Income taxes payable		—			39			44		251		—			334
Total current liabilities		—			21,218			142,909		4,270		(5,002	)		163,395
Long-term debt		—			431,000			—		—		—			431,000
Other noncurrent liabilities		—			27,678			—		—		—			27,678
Obligations and advances in excess of investment in subsidiary		16,502			—			—		—		(16,502	)		—
Intercompany accounts		7,145			235,087			—		11,711		(253,943	)		—
Total liabilities		23,647			714,983			142,909		15,981		(275,447	)		622,073
Commitments and contingencies		—			—			—		—		—			—
Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity		(23,647	)		(16,502	)		591,583		19,336		(594,417	)		(23,647	)
Noncontrolling interest		—			—			—		3,776		—			3,776
Total (deficit) / equity		(23,647	)		(16,502	)		591,583		23,112		(594,417	)		(19,871	)
Total liabilities and (deficit) / equity	$	—		$	698,481		$	734,492	$	39,093	$	(869,864	)	$	602,202

	Condensed Consolidating Balance Sheet
	As of December 31, 2012
	Parent			Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Assets
Current assets:
Cash	$	—		$	8,537		$	—	$	5,446	$	(121	)	$	13,862
Accounts receivable, net of allowance		—			4,630			144,533		15,154		—			164,317
Inventories		—			343			158,713		15,885		(563	)		174,378
Prepaid expenses and other current assets		—			9,229			2,600		312		—			12,141
Deferred income taxes		—			33,465			—		—		—			33,465
Income tax receivable, net		—			1,656			—		—		(356	)		1,300
Total current assets		—			57,860			305,846		36,797		(1,040	)		399,463
Property, plant and equipment, net		—			1,154			69,646		327		—			71,127
Investment in joint venture		—			—			2,972		—		—			2,972
Investment in subsidiaries		—			522,912			19,850		—		(542,762	)		—
Intercompany accounts		—			—			223,081		—		(223,081	)		—
Goodwill		—			—			4,399		—		—			4,399
Intangible assets, net		—			—			839		—		—			839
Deferred income taxes		—			6,138			—		—		—			6,138
Other noncurrent assets		—			17,115			640		—		—			17,755
Total assets	$	—		$	605,179		$	627,273	$	37,124	$	(766,883	)	$	502,693
Liabilities and (deficit) / equity
Current liabilities:
Accounts payable	$	—		$	1,398		$	77,390	$	2,910	$	(121	)	$	81,577
Accrued liabilities		—			20,592			26,971		861		—			48,424
Accrued interest		—			3,287			—		—		—			3,287
Income taxes payable		—			248			—		356		(356	)		248
Total current liabilities		—			25,525			104,361		4,127		(477	)		133,536
Long-term debt		—			389,522			—		—		—			389,522
Other noncurrent liabilities		—			27,436			—		—		—			27,436
Obligations and advances in excess of investment in subsidiary		42,522			—			—		—		(42,522	)		—
Intercompany accounts		8,829			205,218			—		9,597		(223,644	)		—
Total liabilities		51,351			647,701			104,361		13,724		(266,643	)		550,494
Commitments and contingencies		—			—			—		—		—			—
Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity		(51,351	)		(42,522	)		522,912		19,850		(500,240	)		(51,351	)
Noncontrolling interest		—			—			—		3,550		—			3,550
Total (deficit) / equity		(51,351	)		(42,522	)		522,912		23,400		(500,240	)		(47,801	)
Total liabilities and (deficit) / equity	$	—		$	605,179		$	627,273	$	37,124	$	(766,883	)	$	502,693

Consolidating Statement of Operations

	Condensed Consolidating Statement of Operations
	Three Months Ended June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	—		$	444,057		$	25,522	$	(8,101	)	$	461,478
Cost of sales		—			(415	)		394,201			24,093		(8,101	)		409,778
Gross profit		—			415			49,856			1,429		—			51,700
Selling, general and administrative expenses		4,802			24,512			22,840			701		—			52,855
Operating income (loss)		(4,802	)		(24,097	)		27,016			728		—			(1,155	)
Interest expense		—			9,959			—			—		—			9,959
Other (income) expense, net		—			97			(213	)		120		—			4
Income (loss) before provision for (benefit from) income taxes and equity income (loss)		(4,802	)		(34,153	)		27,229			608		—			(11,118	)
Provision for (benefit from) income taxes		(1,848	)		(4,553	)		12,446			416		—			6,461
Income (loss) before equity income (loss)		(2,954	)		(29,600	)		14,783			192		—			(17,579	)
Equity income (loss), net of tax		(14,178	)		15,422			639			—		(1,375	)		508
Net income (loss)		(17,132	)		(14,178	)		15,422			192		(1,375	)		(17,071	)
Less: Net income attributable to noncontrolling interest		—			—			—			61		—			61
Net income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(17,132	)	$	(14,178	)	$	15,422		$	131	$	(1,375	)	$	(17,132	)

	Condensed Consolidating Statement of Operations
	Three Months Ended June 30, 2012
	Parent			Issuer			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—		$	397,588	$	24,807		$	(5,416	)	$	416,979
Cost of sales		—			654			352,200		22,420			(5,416	)		369,858
Gross profit (loss)		—			(654	)		45,388		2,387			—			47,121
Selling, general and administrative expenses		440			17,459			19,389		677			—			37,965
Operating income (loss)		(440	)		(18,113	)		25,999		1,710			—			9,156
Interest expense		—			10,209			—		—			—			10,209
Loss on extinguishment of debt		—			19,612			—		—			—			19,612
Other (income) expense, net		—			530			67		(199	)		—			398
Income (loss) before provision for (benefit from) income taxes and equity income (loss)		(440	)		(48,464	)		25,932		1,909			—			(21,063	)
Provision for (benefit from) income taxes		(169	)		(14,784	)		14,300		(318	)		—			(971	)
Income (loss) before equity income (loss)		(271	)		(33,680	)		11,632		2,227			—			(20,092	)
Equity income (loss), net of tax		(19,734	)		13,946			2,314		—			3,675			201
Net income (loss)		(20,005	)		(19,734	)		13,946		2,227			3,675			(19,891	)
Less: Net income attributable to noncontrolling interest		—			—			—		114			—			114
Net income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(20,005	)	$	(19,734	)	$	13,946	$	2,113		$	3,675		$	(20,005	)

	Condensed Consolidating Statement of Operations
	Six Months Ended June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net sales	$	—		$	—		$	872,130		$	48,498	$	(14,188	)	$	906,440
Cost of sales		—			116			777,054			44,842		(14,188	)		807,824
Gross profit		—			(116	)		95,076			3,656		—			98,616
Selling, general and administrative expenses		5,188			28,856			37,056			1,433		—			72,533
Operating income (loss)		(5,188	)		(28,972	)		58,020			2,223		—			26,083
Interest expense		—			19,834			—			—		—			19,834
Other (income) expense, net		—			187			(83	)		87		—			191
Income (loss) before provision for (benefit from) income taxes and equity income (loss)		(5,188	)		(48,993	)		58,103			2,136		—			6,058
Provision for (benefit from) income taxes		(1,997	)		(9,953	)		23,690			763		—			12,503
Income (loss) before equity income (loss)		(3,191	)		(39,040	)		34,413			1,373		—			(6,445	)
Equity income (loss), net of tax		(2,553	)		36,487			2,074			—		(35,148	)		860
Net income (loss)		(5,744	)		(2,553	)		36,487			1,373		(35,148	)		(5,585	)
Less: Net income attributable to noncontrolling interest		—			—			—			159		—			159
Net income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(5,744	)	$	(2,553	)	$	36,487		$	1,214	$	(35,148	)	$	(5,744	)

	Condensed Consolidating Statement of Operations
	Six Months Ended June 30, 2012
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—		$	829,135		$	44,619		$	(13,384	)	$	860,370
Cost of sales		—			(1,905	)		738,120			40,464			(13,384	)		763,295
Gross profit		—			1,905			91,015			4,155			—			97,075
Selling, general and administrative expenses		735			21,812			32,044			1,297			—			55,888
Operating income (loss)		(735	)		(19,907	)		58,971			2,858			—			41,187
Interest expense (income)		—			19,961			(3	)		—			—			19,958
Loss on extinguishment of debt		—			19,612			—			—			—			19,612
Other (income) expense, net		—			597			251			(139	)		—			709
Income (loss) before provision for (benefit from) income taxes and equity income (loss)		(735	)		(60,077	)		58,723			2,997			—			908
Provision for (benefit from) income taxes		(283	)		(19,161	)		26,662			9			—			7,227
Income (loss) before equity income (loss)		(452	)		(40,916	)		32,061			2,988			—			(6,319	)
Equity income (loss), net of tax		(5,560	)		35,356			3,295			—			(32,616	)		475
Net income (loss)		(6,012	)		(5,560	)		35,356			2,988			(32,616	)		(5,844	)
Less: Net income attributable to noncontrolling interest		—			—			—			168			—			168
Net income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(6,012	)	$	(5,560	)	$	35,356		$	2,820		$	(32,616	)	$	(6,012	)

Consolidating Statement of Comprehensive Income

	Condensed Consolidating Statement of Comprehensive Income (Loss)
	Three Months Ended June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net income (loss)	$	(17,132	)	$	(14,178	)	$	15,422		$	192		$	(1,375	)	$	(17,071	)
Foreign currency translation adjustment, net of tax		(489	)		(489	)		(803	)		(177	)		1,518			(440	)
Comprehensive income (loss)		(17,621	)		(14,667	)		14,619			15			143			(17,511	)
Less: Comprehensive income attributable to noncontrolling interest		—			—			—			110			—			110
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(17,621	)	$	(14,667	)	$	14,619		$	(95	)	$	143		$	(17,621	)

	Condensed Consolidating Statement of Comprehensive Income (Loss)
	Three Months Ended June 30, 2012
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net income (loss)	$	(20,005	)	$	(19,734	)	$	13,946		$	2,227		$	3,675	$	(19,891	)
Foreign currency translation adjustment, net of tax		(148	)		(148	)		(227	)		(520	)		900		(143	)
Comprehensive income (loss)		(20,153	)		(19,882	)		13,719			1,707			4,575		(20,034	)
Less: Comprehensive income attributable to noncontrolling interest		—			—			—			119			—		119
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(20,153	)	$	(19,882	)	$	13,719		$	1,588		$	4,575	$	(20,153	)

	Condensed Consolidating Statement of Comprehensive Income (Loss)
	Six Months Ended June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(5,744	)	$	(2,553	)	$	36,487		$	1,373	$	(35,148	)	$	(5,585	)
Foreign currency translation adjustment, net of tax		(879	)		(879	)		(1,462	)		209		2,199			(812	)
Comprehensive income (loss)		(6,623	)		(3,432	)		35,025			1,582		(32,949	)		(6,397	)
Less: Comprehensive income attributable to noncontrolling interest		—			—			—			226		—			226
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(6,623	)	$	(3,432	)	$	35,025		$	1,356	$	(32,949	)	$	(6,623	)

	Condensed Consolidating Statement of Comprehensive Income (Loss)
	Six Months Ended June 30, 2012
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
Net income (loss)	$	(6,012	)	$	(5,560	)	$	35,356		$	2,988	$	(32,616	)	$	(5,844	)
Foreign currency translation adjustment, net of tax		(145	)		(145	)		(222	)		799		(410	)		(123	)
Comprehensive income (loss)		(6,157	)		(5,705	)		35,134			3,787		(33,026	)		(5,967	)
Less: Comprehensive income attributable to noncontrolling interest		—			—			—			190		—			190
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc.	$	(6,157	)	$	(5,705	)	$	35,134		$	3,597	$	(33,026	)	$	(6,157	)

Consolidating Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows
	Six Months Ended June 30, 2013
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities
Net cash provided by (used in) operating activities	$	—		$	(15,558	)	$	8,103		$	935		$	(11,408	)	$	(17,928	)
Cash flows from investing activities
Capital expenditures		—			—			(8,268	)		(37	)		—			(8,305	)
Payable to subsidiaries		(4,875	)		—			—			—			4,875			—
Proceeds from sale of property, plant and equipment		—			—			165			4			—			169
Net cash provided by (used in) investing activities		(4,875	)		—			(8,103	)		(33	)		4,875			(8,136	)
Cash flows from financing activities
Borrowings on ABL Facility		—			229,787			—			—			—			229,787
Payments on ABL Facility		—			(188,309	)		—			—			—			(188,309	)
Distribution to stockholder		—			—			—			(2,000	)		2,000			—
Net payments (amounts due) from stockholder		4,875			—			—			—			—			4,875
Net cash provided by (used in) financing activities		4,875			41,478			—			(2,000	)		2,000			46,353
Effect of foreign currency exchange rate changes		—			—			—			(141	)		—			(141	)
Net increase (decrease) in cash		—			25,920			—			(1,239	)		(4,533	)		20,148
Cash at beginning of period		—			8,537			—			5,446			(121	)		13,862
Cash at end of period	$	—		$	34,457		$	—		$	4,207		$	(4,654	)	$	34,010

	Condensed Consolidating Statement of Cash Flows Six Months Ended June 30, 2012
	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities
Net cash provided by (used for) operating activities	$	73,624		$	25,672		$	6,649		$	(999	)	$	(74,609	)	$	30,337
Cash flows from investing activities
Capital expenditures		—			(549	)		(6,655	)		(18	)		—			(7,222	)
Capital distributions from subsidiary		86,376			—			—						(86,376	)		—
Payable to subsidiaries		2,161			—			—			—			(2,161	)		—
Proceeds from sale of property, plant and equipment		—			—			6			—			—			6
Net cash provided by (used in) investing activities		88,537			(549	)		(6,649	)		(18	)		(88,537	)		(7,216	)
Cash flows from financing activities
Deferred financing fees		—			(12,926	)		—			—			—			(12,926	)
Proceeds from senior secured notes		—			375,000			—			—			—			375,000
Payments on term loan		—			(310,875	)		—			—			—			(310,875	)
Borrowings on ABL Facility		—			81,586			—			—			—			81,586
Payments on ABL Facility		—			(30,913	)		—			—			—			(30,913	)
Distribution to stockholder		(160,000	)		(160,000	)		—			—			160,000			(160,000	)
Amounts due from stockholder		(2,161	)		—			—			—			—			(2,161	)
Net cash used in financing activities		(162,161	)		(58,128	)		—			—			160,000			(60,289	)
Effect of foreign currency exchange rate changes		—			—			—			(207	)		—			(207	)
Net decrease in cash		—			(33,005	)		—			(1,224	)		(3,146	)		(37,375	)
Cash at beginning of period		—			45,302			—			4,648			(413	)		49,537
Cash at end of period	$	—		$	12,297		$	—		$	3,424		$	(3,559	)	$	12,162