2014 Financing Transactions (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Cash Flow Activity Related To Restructuring [Table Text Block]

The table below summarizes the cash flow activity for the 2014 Financing Transactions:

Cash Sources (in millions)			Cash Uses (in millions)
New Term Loan	$	700.0	Extinguish Prior ABL Facility (includes accrued interest)	$	326.0
Proceeds from sale of common stock	215.0		Extinguish Prior Term Loan (includes accrued interest)	299.7
Proceeds from sale of convertible preferred stock	35.0		Retire 6% Notes	71.5
Cash proceeds from restricted amounts held in escrow - Prior ABL facility	90.0		Repurchase Series A Notes (includes accrued interest)	93.9
New ABL Facility	—		Redeem Series A Notes (on August 5, 2014 and includes accrued interest)	89.6
			Fees, Expenses and Original Issuance Discount	50.8
			Restricted Cash to Balance Sheet (a)	92.0
			Cash to Balance Sheet	16.5
Total sources	$	1,040.0	Total uses	$	1,040.0

(a) Under the terms of the New ABL facility, this amount was classified as “restricted cash” in the consolidated balance sheet at the closing date of the New ABL Facility.

Non cash activity related to restructuring [Table Text Block]

The table below summarizes the non-cash activity for the 2014 Financing Transactions:

Non-Cash Sources (in millions)			Non-Cash Uses (in millions)
Secured Second A&R CDA	$	51.0	A&R CDA	$	124.2
Unsecured Second A&R CDA	73.2		Exchange/conversion of Series B Notes to common stock	50.6
Exchange/conversion of Series B Notes to common stock	50.6
Total sources	$	174.8	Total uses	$	174.8

Schedule of Price Grid Based on Average Quarterly Excess Availability Under Revolver [Table Text Block]

Thereafter, the interest rates will be subject to the following price grid based on the average quarterly excess availability under the revolver:

	Average Quarterly	Base Rate	LIBOR
Level	Excess Capacity	Plus	Plus
I	> $140,000,000	1.00%	2.00%
II	>  $70,000,000	1.25%	2.25%
	< $140,000,000
III	< $70,000,000	1.50%	2.50%