Supplemental Subsidiary Guarantors

The following tables present condensed consolidated financial information as of January 31, 2014 and October 25, 2013 and for the quarters ended January 31, 2014 and January 25, 2013 for: (a) the Company; (b) on a combined basis, the guarantors of the Credit Agreement and the 2021 Notes issued in October 2011, which include Joy Global Underground Mining LLC, Joy Global Surface Mining Inc., N.E.S. Investment Co., Joy Global Conveyors Inc. and Joy Global Longview Operations LLC (the “Supplemental Subsidiary Guarantors”); and (c) on a combined basis, the non-guarantors, which include all of our foreign subsidiaries and a number of small domestic subsidiaries (“Non-Guarantor Subsidiaries”).

The borrowings are fully and unconditionally guaranteed on a joint and several unsecured basis by the Supplemental Subsidiary Guarantors, which are direct and indirect 100% owned subsidiaries of the Company. We conduct all of our business and derive essentially all of our income from our subsidiaries. Therefore, our ability to make payments on the obligations is dependent on the earnings and distribution of funds from our subsidiaries. There are no restrictions on the ability of any of our domestic subsidiaries to transfer funds to the parent company. Separate financial statements of the Supplemental Subsidiary Guarantors are not presented because we believe such separate statements or disclosures would not be useful to investors.

Condensed Consolidating Statement of Income Quarter ended January 31, 2014

In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	478,576		$	604,861		$	(244,125	)	$	839,312
Cost of sales	—			361,369			447,537			(204,728		)	604,178
Product development, selling and administrative expenses	14,669			67,591			70,769			—			153,029
Other (income) expense	(473		)	2,330			(4,997		)	—			(3,140		)
Operating income (loss)	(14,196		)	47,286			91,552			(39,397		)	85,245
Intercompany items	17,278			(19,986		)	(9,071		)	11,779			—
Interest (expense) income, net	(16,045		)	1,854			371			—			(13,820		)
Income (loss) from continuing operations before income taxes and equity in income of subsidiaries	(12,963		)	29,154			82,852			(27,618		)	71,425
Provision (benefit) for income taxes	(5,054		)	27,256			362			—			22,564
Equity in income of subsidiaries	56,770			33,013			—			(89,783		)	—
Income from continuing operations	$	48,861		$	34,911		$	82,490		$	(117,401	)	$	48,861

Comprehensive income	$	2,403		$	33,376		$	34,786		$	(68,162	)	$	2,403

Condensed Consolidating Statement of Income Quarter ended January 25, 2013

In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	600,956		$	877,521		$	(328,600	)	$	1,149,877
Cost of sales	—			410,643			621,120			(258,614		)	773,149
Product development, selling and administrative expenses	12,802			74,117			70,362			—			157,281
Other (income) expense	—			9,176			(10,881		)	—			(1,705		)
Operating income (loss)	(12,802		)	107,020			196,920			(69,986		)	221,152
Intercompany items	31,120			(19,848		)	(35,657		)	24,385			—
Interest (expense) income, net	(22,570		)	97			7,320			—			(15,153		)
Income (loss) from continuing operations before income taxes and equity in income of subsidiaries	(4,252		)	87,269			168,583			(45,601		)	205,999
Provision (benefit) for income taxes	(9,276		)	57,046			16,090			—			63,860
Equity in income of subsidiaries	137,115			92,701			—			(229,816		)	—
Income from continuing operations	$	142,139		$	122,924		$	152,493		$	(275,417	)	$	142,139

Comprehensive income	$	145,367		$	121,201		$	149,000		$	(270,201	)	$	145,367

Condensed Consolidating Balance Sheet As of January 31, 2014

In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	29,665		$	6,580	$	254,654	$	—		$	290,899
Accounts receivable, net	—			390,404		571,903		(8,515		)	953,792
Inventories	—			455,890		804,206		(124,984		)	1,135,112
Other current assets	72,409			8,799		126,808		15			208,031
Total current assets	102,074			861,673		1,757,571		(133,484		)	2,587,834
Property, plant and equipment, net	20,885			363,273		513,726		—			897,884
Other assets:
Other intangible assets, net	—			242,456		83,116		—			325,572
Goodwill	—			454,199		1,025,122		—			1,479,321
Deferred income taxes	(33,294		)	—		71,017		—			37,723
Other non-current assets	4,113,404			1,800,826		2,617,174		(8,336,062		)	195,342
Total other assets	4,080,110			2,497,481		3,796,429		(8,336,062		)	2,037,958
Total assets	$	4,203,069		$	3,722,427	$	6,067,726	$	(8,469,546	)	$	5,523,676
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term notes payable, including current portion of long-term obligations	$	50,000		$	—	$	8,356	$	—		$	58,356
Trade accounts payable	731			138,347		144,891		—			283,969
Employee compensation and benefits	8,497			42,910		44,359		—			95,766
Advance payments and progress billings	—			162,715		331,384		(21,253		)	472,846
Accrued warranties	—			27,281		50,523		—			77,804
Other accrued liabilities	38,454			49,851		158,414		(3,631		)	243,088
Current liabilities of discontinued operations	—			11,684		—		—			11,684
Total current liabilities	97,682			432,788		737,927		(24,884		)	1,243,513
Long-term obligations	1,243,860			—		14		—			1,243,874
Other liabilities:
Liabilities for postretirement benefits	19,471			848		—		—			20,319
Accrued pension costs	131,673			5,502		7,146		—			144,321
Other non-current liabilities	(14,656		)	8,169		153,097		—			146,610
Total other liabilities	136,488			14,519		160,243		—			311,250
Shareholders’ equity	2,725,039			3,275,120		5,169,542		(8,444,662		)	2,725,039
Total liabilities and shareholders’ equity	$	4,203,069		$	3,722,427	$	6,067,726	$	(8,469,546	)	$	5,523,676

Condensed Consolidating Balance Sheet As of October 25, 2013

In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	122,901		$	20,361	$	262,447	$	—		$	405,709
Accounts receivable, net	—			402,321		687,790		(6,448		)	1,083,663
Inventories	—			456,345		813,182		(129,783		)	1,139,744
Other current assets	68,792			16,957		107,564		15			193,328
Total current assets	191,693			895,984		1,870,983		(136,216		)	2,822,444
Property, plant and equipment, net	18,081			373,235		521,326		—			912,642
Other assets:
Other intangible assets, net	—			247,200		84,612		—			331,812
Goodwill	—			454,199		1,026,320		—			1,480,519
Deferred income taxes	(49,393		)	—		90,925		—			41,532
Other non-current assets	4,168,916			2,070,239		3,963,205		(10,001,727		)	200,633
Total other assets	4,119,523			2,771,638		5,165,062		(10,001,727		)	2,054,496
Total assets	$	4,329,297		$	4,040,857	$	7,557,371	$	(10,137,943	)	$	5,789,582
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term notes payable, including current portion of long-term obligations	$	50,000		$	449	$	8,220	$	—		$	58,669
Trade accounts payable	2,565			165,045		220,509		—			388,119
Employee compensation and benefits	10,080			52,260		68,215		—			130,555
Advance payments and progress billings	—			144,853		269,628		(14,713		)	399,768
Accrued warranties	—			30,111		55,621		—			85,732
Other accrued liabilities	24,545			54,285		211,074		(3,841		)	286,063
Current liabilities of discontinued operations	—			11,684		—		—			11,684
Total current liabilities	87,190			458,687		833,267		(18,554		)	1,360,590
Long-term obligations	1,256,164			763		—		—			1,256,927
Other liabilities:
Liabilities for postretirement benefits	19,881			842		—		—			20,723
Accrued pension costs	136,886			5,685		7,234		—			149,805
Other non-current liabilities	(29,193		)	7,851		164,510		—			143,168
Total other liabilities	127,574			14,378		171,744		—			313,696
Shareholders’ equity	2,858,369			3,567,029		6,552,360		(10,119,389		)	2,858,369
Total liabilities and shareholders’ equity	$	4,329,297		$	4,040,857	$	7,557,371	$	(10,137,943	)	$	5,789,582

Condensed Consolidating Statement of Cash Flows Quarter ended January 31, 2014

In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided (used) by operating activities of continuing operations	$	61,014		$	(9,829	)	$	13,654		$	64,839
Net cash provided by operating activities of discontinued operations	—			67			—			67
Net cash provided (used) by operating activities	61,014			(9,762		)	13,654			64,906
Investing Activities:
Property, plant and equipment acquired	(3,544		)	(4,084		)	(19,027		)	(26,655		)
Proceeds from sale of property, plant and equipment	—			1,277			804			2,081
Other investing activities, net	(21		)	—			—			(21		)
Net cash used by investing activities	(3,565		)	(2,807		)	(18,223		)	(24,595		)
Financing Activities:
Common stock issued	1,985			—			—			1,985
Excess tax detriment from share-based compensation awards	(284		)	—			—			(284		)
Dividends paid	(17,850		)	—			—			(17,850		)
Repayments of term loan	(12,500		)	—			—			(12,500		)
Change in short and long-term obligations, net	—			(1,212		)	(47		)	(1,259		)
Treasury stock purchased	(122,036		)	—			—			(122,036		)
Net cash used by financing activities	(150,685		)	(1,212		)	(47		)	(151,944		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(3,177		)	(3,177		)
Decrease in Cash and Cash Equivalents	(93,236		)	(13,781		)	(7,793		)	(114,810		)
Cash and Cash Equivalents at Beginning of Period	122,901			20,361			262,447			405,709
Cash and Cash Equivalents at End of Period	$	29,665		$	6,580		$	254,654		$	290,899

Condensed Consolidating Statement of Cash Flows Quarter ended January 25, 2013

In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities of continuing operations	$	51,491		$	15,201		$	25,373		$	92,065
Net cash used by operating activities of discontinued operations	—			(1,571		)	—			(1,571		)
Net cash provided by operating activities	51,491			13,630			25,373			90,494
Investing Activities:
Property, plant and equipment acquired	(1,417		)	(14,081		)	(39,090		)	(54,588		)
Proceeds from sale of property, plant and equipment	—			(2,489		)	3,542			1,053
Other investing activities, net	(32		)	—			1,825			1,793
Net cash used by investing activities	(1,449		)	(16,570		)	(33,723		)	(51,742		)
Financing Activities:
Common stock issued	3,012			—			—			3,012
Excess tax benefit from share-based compensation awards	1,522			—			—			1,522
Dividends paid	(18,542		)	—			—			(18,542		)
Repayments of term loan	(12,500		)	—			—			(12,500		)
Change in short and long-term obligations, net	—			(104		)	(4,598		)	(4,702		)
Net cash used by financing activities	(26,508		)	(104		)	(4,598		)	(31,210		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(1,520		)	(1,520		)
Increase (Decrease) in Cash and Cash Equivalents	23,534			(3,044		)	(14,468		)	6,022
Cash and Cash Equivalents at Beginning of Period	3,459			6,628			253,786			263,873
Cash and Cash Equivalents at End of Period	$	26,993		$	3,584		$	239,318		$	269,895