Subsidiary Guarantors (Tables)

6 Months Ended

Apr. 26, 2013

Condensed Consolidating Statements of Income

Quarter ended April 26, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	816,797		$	898,483		$	(354,845	)	$	1,360,435
Cost of sales	—			578,803			622,410			(292,034		)	909,179
Product development, selling and administrative expenses	16,608			79,826			76,519			—			172,953
Other (income) expense	—			6,785			(7,115		)	—			(330		)
Operating income (loss)	(16,608		)	151,383			206,669			(62,811		)	278,633
Intercompany items	26,889			(23,967		)	(26,876		)	23,954			—
Interest income (expense), net	(10,355		)	477			(5,307		)	—			(15,185		)
Income (loss) from continuing operations before income taxes and equity	(74		)	127,893			174,486			(38,857		)	263,448
Provision (benefit) for income taxes	(11,361		)	66,819			26,211			—			81,669
Equity in income of subsidiaries	170,492			106,652			—			(277,144		)	—
Income from continuing operations	$	181,779		$	167,726		$	148,275		$	(316,001	)	$	181,779

Quarter ended April 27, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	864,474		$	1,023,405		$	(346,819	)	$	1,541,060
Cost of sales	—			589,484			724,402			(283,197		)	1,030,689
Product development, selling and administrative expenses	15,664			85,933			80,436			—			182,033
Other (income) expense	—			4,276			(9,375		)	—			(5,099		)
Operating income (loss)	(15,664		)	184,781			227,942			(63,622		)	333,437
Intercompany items	17,770			(16,943		)	(21,378		)	20,551			—
Interest (expense) income, net	(17,839		)	62			657			—			(17,120		)
Income (loss) from continuing operations before income taxes and equity	(15,733		)	167,900			207,221			(43,071		)	316,317
Provision (benefit) for income taxes	(19,890		)	85,957			32,298			—			98,365
Equity in income of subsidiaries	213,795			113,919			—			(327,714		)	—
Income from continuing operations	217,952			195,862			174,923			(370,785		)	217,952
Income from continuing operations attributable to noncontrolling interest	(33		)	$	—		$	(33	)	$	33		$	(33	)
Income from continuing operations attributable to Joy Global Inc.	$	217,919		$	195,862		$	174,890		$	(370,752	)	$	217,919

Six months ended April 26, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,417,753		$	1,776,004		$	(683,445	)	$	2,510,312
Cost of sales	—			989,446			1,243,530			(550,648		)	1,682,328
Product development, selling and administrative expenses	29,410			153,943			146,881			—			330,234
Other (income) expense	—			15,961			(17,996		)	—			(2,035		)
Operating income (loss)	(29,410		)	258,403			403,589			(132,797		)	499,785
Intercompany items	58,009			(43,815		)	(62,533		)	48,339			—
Interest income (expense), net	(32,925		)	574			2,013			—			(30,338		)
Income (loss) from continuing operations before income taxes and equity	(4,326		)	215,162			343,069			(84,458		)	469,447
Provision (benefit) for income taxes	(20,637		)	123,865			42,301			—			145,529
Equity in income of subsidiaries	307,607			196,610			—			(504,217		)	—
Income from continuing operations	$	323,918		$	287,907		$	300,768		$	(588,675	)	$	323,918

Six months ended April 27, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,572,717		$	1,775,349		$	(670,805	)	$	2,677,261
Cost of sales	—			1,078,833			1,262,291			(537,659		)	1,803,465
Product development, selling and administrative expenses	42,659			168,636			142,094			—			353,389
Other (income) expense	—			12,140			(38,916		)	—			(26,776		)
Operating income (loss)	(42,659		)	313,108			409,880			(133,146		)	547,183
Intercompany items	32,493			(24,378		)	(54,131		)	46,016			—
Interest (expense) income, net	(34,532		)	164			1,171			—			(33,197		)
Income (loss) from continuing operations before income taxes and equity	(44,698		)	288,894			356,920			(87,130		)	513,986
Provision (benefit) for income taxes	(33,132		)	133,324			53,323			—			153,515
Equity in income of subsidiaries	372,037			171,482			—			(543,519		)	—
Income from continuing operations	360,471			327,052			303,597			(630,649		)	360,471
Income from continuing operations attributable to noncontrolling interest	(142		)	$	—		$	(142	)	$	142		$	(142	)
Income from continuing operations attributable to Joy Global Inc.	$	360,329		$	327,052		$	303,455		$	(630,507	)	$	360,329

Condensed Consolidating Balance Sheets:

As of April 26, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets	$	92,611		$	1,070,719	$	2,147,054	$	(198,777	)	$	3,111,607
Property, plant and equipment, net	15,317			387,048		487,707		—			890,072
Goodwill and intangible assets, net	—			810,093		1,169,895		—			1,979,988
Other assets	4,379,517			2,707,230		1,991,845		(8,871,757		)	206,835
Total assets	$	4,487,445		$	4,975,090	$	5,796,501	$	(9,070,534	)	$	6,188,502
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	81,215		$	601,821	$	952,388	$	(53,305	)	$	1,582,119
Long-term obligations	1,308,784			991		—		—			1,309,775
Accrued pension costs	241,216			6,274		6,942		—			254,432
Other non-current liabilities	(20,783		)	10,305		175,641		—			165,163
Total liabilities	1,610,432			619,391		1,134,971		(53,305		)	3,311,489
Shareholders’ equity	2,877,013			4,355,699		4,661,530		(9,017,229		)	2,877,013
Total liabilities and shareholders’ equity	$	4,487,445		$	4,975,090	$	5,796,501	$	(9,070,534	)	$	6,188,502

As of October 26, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current assets	$	97,443		$	1,145,051	$	2,134,636		$	(221,053	)	$	3,156,077
Property, plant and equipment, net	12,515			378,274		442,073			—			832,862
Goodwill and intangible assets, net	—			818,435		1,153,147			—			1,971,582
Other assets	4,178,760			2,528,849		1,803,046			(8,328,673		)	181,982
Total assets	$	4,288,718		$	4,870,609	$	5,532,902		$	(8,549,726	)	$	6,142,503
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	106,207		$	704,191	$	1,038,751		$	(81,479	)	$	1,767,670
Current liabilities of discontinued operations	—			46,693		(33,546		)	—			13,147
Long-term obligations	1,305,413			1,212		—			—			1,306,625
Accrued pension costs	322,310			6,589		6,914			—			335,813
Other non-current liabilities	(22,401		)	10,205		154,255			—			142,059
Total liabilities	1,711,529			768,890		1,166,374			(81,479		)	3,565,314
Shareholders’ equity	2,577,189			4,101,719		4,366,528			(8,468,247		)	2,577,189
Total liabilities and shareholders’ equity	$	4,288,718		$	4,870,609	$	5,532,902		$	(8,549,726	)	$	6,142,503

Condensed Consolidating Statements of Cash Flows:

Six months ended April 26, 2013

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Net cash provided by operating activities of continuing operations	$	26,790		$	17,700		$	48,785		$	93,275
Net cash used by operating activities of discontinued operations	—			—			(2,372		)	(2,372		)
Net cash provided by operating activities	26,790			17,700			46,413			90,903
Net cash used by investing activities	(2,878		)	(20,394		)	(61,612		)	(84,884		)
Net cash used by financing activities	(27,202		)	(209		)	(5,575		)	(32,986		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(2,031		)	(2,031		)
Decrease in cash and cash equivalents	(3,290		)	(2,903		)	(22,805		)	(28,998		)
Cash and cash equivalents at beginning of period	3,459			6,628			253,786			263,873
Cash and cash equivalents at end of period	$	169		$	3,725		$	230,981		$	234,875

Six months ended April 27, 2012

(In thousands)



	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Net cash provided (used) by operating activities of continuing operations	$	(60,722	)	$	75,409		$	81,760		$	96,447
Net cash used by operating activities of discontinued operations	—			(10,158		)	—			(10,158		)
Net cash provided (used) by operating activities	(60,722		)	65,251			81,760			86,289
Investing Activities:
Acquisition of controlling interest in International Mining Machinery, net of cash acquired	(1,012,361		)	—			72,912			(939,449		)
Withdrawal of cash held in escrow	849,700			—			—			849,700
Other investing activities	(3,166		)	(65,591		)	(43,786		)	(112,543		)
Net cash (used) provided by investing activities	(165,827		)	(65,591		)	29,126			(202,292		)
Net cash provided (used) by financing activities	226,659			(199		)	(4,773		)	221,687
Effect of exchange rate changes on cash and cash equivalents	—			—			(3,028		)	(3,028		)
Increase (decrease) in cash and cash equivalents	110			(539		)	103,085			102,656
Cash and cash equivalents at beginning of period	100,181			16,152			171,988			288,321
Cash and cash equivalents at end of period	$	100,291		$	15,613		$	275,073		$	390,977