XML 55 R68.htm IDEA: XBRL DOCUMENT v2.4.0.6
Guarantor and Non-Guarantor Financial Statements (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Dec. 31, 2012
Mar. 31, 2013
Parent
Mar. 31, 2012
Parent
Dec. 31, 2012
Parent
Mar. 31, 2013
Guarantor Subsidiaries
Mar. 31, 2012
Guarantor Subsidiaries
Dec. 31, 2012
Guarantor Subsidiaries
Mar. 31, 2013
Non-Guarantor Subsidiaries
Mar. 31, 2012
Non-Guarantor Subsidiaries
Dec. 31, 2012
Non-Guarantor Subsidiaries
Mar. 31, 2013
Consolidating Adjustments
Mar. 31, 2012
Consolidating Adjustments
Dec. 31, 2012
Consolidating Adjustments
May 23, 2012
Senior Notes
Condensed Financial Statements [Line Items]                                
Principal amount of notes $ 225.0   $ 225.0                         $ 225.0
Ownership interest by parent 100.00%                              
Current assets:                                
Cash and cash equivalents 248.0 77.3   5.0 5.0   241.6 71.6   1.4 0.7   0 0    
Short-term investments 85.6   85.0 0   0 85.6   85.0 0   0 0   0  
Receivables:                                
Trade, less allowance for doubtful receivables 141.8   123.8 0   0 137.8   121.5 4.0   2.3 0   0  
Intercompany receivables 0   0 0   0 0.2   (10.3) 0.3   0.4 (0.5)   9.9  
Other 11.8   3.4 0   0 1.6   1.3 10.2   2.1 0   0  
Inventories 199.3   186.0 0   0 193.0   178.7 6.6   7.3 (0.3)   0  
Prepaid expenses and other current assets 71.0   70.1 0   0 68.9   68.1 2.1   2.0 0   0  
Total current assets 757.5   741.7 5.0   5.0 728.7   710.3 24.6   16.5 (0.8)   9.9  
Investments in and advances to unconsolidated affiliates 0   0 1,331.5   1,284.1 15.8   7.4 0   0 (1,347.3)   (1,291.5)  
Property, plant, and equipment – net 386.4   384.3 0   0 373.9   371.8 12.5   12.5 0   0  
Long-term intercompany receivables 0   0 140.4   163.7 0.9   0.4 8.9   6.4 (150.2)   (170.5)  
Net asset in respect of VEBA 372.5   365.9 0   0 372.5   365.9 0   0 0   0  
Deferred tax assets — net 87.0   102.0 0   0 78.7   93.4 (1.0)   (0.8) 9.3   9.4  
Intangible assets – net 35.0   35.4 0   0 35.0   35.4 0   0 0   0  
Goodwill 37.2   37.2 0   0 37.2   37.2 0   0 0   0  
Other assets 88.8   86.0 69.5   64.0 19.2   19.2 0.1   3.0 0   (0.2)  
Total 1,764.4   1,752.5 1,546.4   1,516.8 1,661.9   1,641.0 45.1   37.6 (1,489.0)   (1,442.9)  
Current liabilities:                                
Accounts payable 73.2   62.5 1.5   0.1 64.7   56.5 7.0   5.9 0   0  
Intercompany payable 0   0 0   0 3.2   0.3 0.2   0.2 (3.4)   (0.5)  
Accrued salaries, wages, and related expenses 33.1   39.3 0   0 30.3   36.7 2.8   2.6 0   0  
Other accrued liabilities 38.4   51.8 10.1   3.5 27.0   47.8 1.3   0.5 0   0  
Payable to affiliate 12.3   7.9 0   0 12.3   7.9 0   0 0   0  
Short-term capital lease 0.2   0.1 0   0 0.2   0.1 0   0 0   0  
Total current liabilities 157.2   161.6 11.6   3.6 137.7   149.3 11.3   9.2 (3.4)   (0.5)  
Net liability in respect of VEBA 4.9   5.3 0   0 4.9   5.3 0   0 0   0  
Long-term intercompany payable 0   0 0   0 149.3   170.0 0.9   0.5 (150.2)   (170.5)  
Long-term liabilities 135.2   134.5 67.7   62.1 48.0   49.6 19.5   22.8 0   0  
Long-term debt 382.3   380.3 382.3   380.3 0   0 0   0 0   0  
Total liabilities 679.6   681.7 461.6   446.0 339.9   374.2 31.7   32.5 (153.6)   (171.0)  
Total stockholders’ equity 1,084.8   1,070.8 1,084.8   1,070.8 1,322.0   1,266.8 13.4   5.1 (1,335.4)   (1,271.9)  
Total 1,764.4   1,752.5 1,546.4   1,516.8 1,661.9   1,641.0 45.1   37.6 (1,489.0)   (1,442.9)  
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME                                
Net sales 337.4 365.4   0 0   331.8 355.5   30.4 32.6   (24.8) (22.7)    
Cost of products sold:                                
Cost of products sold, excluding depreciation and amortization and other items 263.6 298.1   0 0   259.7 290.5   27.0 29.9   (23.1) (22.3)    
Unrealized losses (gains) on derivative instruments 0.7 (3.1)   0 0   0.7 (3.1)   0 0   0 0    
Depreciation and amortization 7.0 6.3   0 0   6.7 6.1   0.3 0.2   0 0    
Selling, administrative, research and development, and general 16.1 17.9   0.4 0.5   14.8 17.7   2.4 0   (1.5) (0.3)    
Total costs and expenses 287.4 319.2   0.4 0.5   281.9 311.2   29.7 30.1   (24.6) (22.6)    
Operating (loss) income 50.0 46.2   (0.4) (0.5)   49.9 44.3   0.7 2.5   (0.2) (0.1)    
Other (expense) income:                                
Interest expense (9.3) (4.1)   (9.1) (4.0)   (0.3) (0.1)   0 0   0.1 0    
Other income, net 1.0 0.7   0.4 0.5   0.6 0.2   0.1 0   (0.1) 0    
(Loss) income before income taxes 41.7 42.8   (9.1) (4.0)   50.2 44.4   0.8 2.5   (0.2) (0.1)    
Income tax (provision) benefit (8.2) (16.3)   0 0   (19.0) (16.8)   7.2 (0.7)   3.6 1.2    
Earnings in equity of subsidiaries 0 0   42.6 30.5   7.8 1.7   0 0   (50.4) (32.2)    
Net income 33.5 26.5   33.5 26.5   39.0 29.3   8.0 1.8   (47.0) (31.1)    
Comprehensive income 34.7 27.6   34.7 27.6   39.8 30.7   8.4 1.5   (48.2) (32.2)    
Cash flows from operating activities:                                
Net cash (used in) provided by operating activities 6.3 35.0 [1]   (0.5) 0.1 [1]   5.4 36.0 [1]   1.4 (1.1) [1]   0 0 [1]    
Cash flows from investing activities:                                
Capital expenditures (9.3) (9.0)   0 0   (9.0) (8.7)   (0.3) (0.3)   0 0    
Purchase of available for sale securities (85.6) 0   0     (85.6)     0     0      
Proceeds from sale of available for sale securities 85.2 0   0     85.2     0     0      
Change in restricted cash 0 7.2     6.9     0.3     0     0    
Net cash used in investing activities (9.7) (1.8)   0 6.9   (9.4) (8.4)   (0.3) (0.3)   0 0    
Cash flows from financing activities:                                
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest 0.8 1.3   0 0   0.8 1.3   0 0   0 0    
Cancellation of shares to cover employees’ tax withholdings upon vesting of non-vested shares (2.2) (2.1)   (2.2) (2.1)   0 0   0 0   0 0    
Cash dividend paid to stockholders (5.9) (4.9)   (5.9) (4.9)   0 0   0 0   0 0    
Repurchase of common stock (14.7) 0   (14.7)     0     0     0      
Intercompany loan 0 0   23.3 0   (21.2) (0.3)   (2.1) 0.3   0 0    
Net cash provided by (used in) financing activities (22.0) (5.7)   0.5 (7.0)   (20.4) 1.0   (2.1) 0.3   0 0    
Net (decrease) increase in cash and cash equivalents during the period (25.4) 27.5   0 0   (24.4) 28.6   (1.0) (1.1)   0 0    
Cash and cash equivalents at beginning of period 273.4 49.8   5.0 5.0   266.0 43.0   2.4 1.8   0 0    
Cash and cash equivalents at end of period $ 248.0 $ 77.3   $ 5.0 $ 5.0   $ 241.6 $ 71.6   $ 1.4 $ 0.7   $ 0 $ 0    
[1] The Company treats changes in long-term intercompany balances that relate to financing activities as cash flow from financing activities. In the above table, the Company has revised the previous classification of the changes in such intercompany balances during the quarter ended March 31, 2012 from cash flows from operating activities to a separate line item in cash flows from financing activities captioned "intercompany loan”.