Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)

9 Months Ended

Sep. 30, 2013

Financial Information for Subsidiary Guarantors and Non-Guarantors

Balance Sheet

	September 30, 2013
					Non-
			Guarantor		Guarantor
Balance Sheet	Parent		Subsidiaries		Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	—	$	1,172	$	—		$	1,172
Inventories					1,178					1,178
Other current assets					322					322
Total current assets	—		—		2,672		—			2,672
Investments in and advances to subsidiaries	1,813		1,563				(3,376		)	—
Goodwill					2,059					2,059
Other non-current assets					1,084					1,084
Total other assets	1,813		1,563		3,143		(3,376		)	3,143
Property, plant and equipment, net					2,657					2,657
Total assets	$	1,813	$	1,563	$	8,472	$	(3,376	)	$	8,472
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	—	$	1,566	$	—		$	1,566
Current portion of asbestos liability	155									155
Short-term loans and long-term debt due within one year					366					366
Total current liabilities	155		—		1,932		—			2,087
Long-term debt	250				3,298		(250		)	3,298
Asbestos-related liabilities	198									198
Other non-current liabilities					1,512					1,512
Total share owners’ equity of the Company	1,210		1,563		1,563		(3,126		)	1,210
Noncontrolling interests					167					167
Total liabilities and share owners’ equity	$	1,813	$	1,563	$	8,472	$	(3,376	)	$	8,472

	December 31, 2012
					Non-
			Guarantor		Guarantor
Balance Sheet	Parent		Subsidiaries		Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	—	$	968	$	—		$	968
Inventories					1,139					1,139
Other current assets					541					541
Total current assets	—		—		2,648		—			2,648
Investments in and advances to subsidiaries	1,592		1,342				(2,934		)	—
Goodwill					2,079					2,079
Other non-current assets					1,102					1,102
Total other assets	1,592		1,342		3,181		(2,934		)	3,181
Property, plant and equipment, net					2,769					2,769
Total assets	$	1,592	$	1,342	$	8,598	$	(2,934	)	$	8,598
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	—	$	1,688	$	—		$	1,688
Current portion of asbestos liability	155									155
Short-term loans and long-term debt due within one year					319					319
Total current liabilities	155		—		2,007		—			2,162
Long-term debt	250				3,454		(250		)	3,454
Asbestos-related liabilities	306									306
Other non-current liabilities					1,621					1,621
Total share owners’ equity of the Company	881		1,342		1,342		(2,684		)	881
Noncontrolling interests					174					174
Total liabilities and share owners’ equity	$	1,592	$	1,342	$	8,598	$	(2,934	)	$	8,598

	September 30, 2012
					Non-
			Guarantor		Guarantor
Balance Sheet	Parent		Subsidiaries		Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	—	$	1,133	$	—		$	1,133
Inventories					1,228					1,228
Other current assets					427					427
Total current assets	—		—		2,788		—			2,788
Investments in and advances to subsidiaries	1,921		1,671				(3,592		)	—
Goodwill					2,065					2,065
Other non-current assets					1,283					1,283
Total other assets	1,921		1,671		3,348		(3,592		)	3,348
Property, plant and equipment, net					2,735					2,735
Total assets	$	1,921	$	1,671	$	8,871	$	(3,592	)	$	8,871
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	—	$	1,517	$	—		$	1,517
Current portion of asbestos liability	165									165
Short-term loans and long-term debt due within one year					356					356
Total current liabilities	165		—		1,873		—			2,038
Long-term debt	250				3,537		(250		)	3,537
Asbestos-related liabilities	220									220
Other non-current liabilities					1,640					1,640
Total share owners’ equity of the Company	1,286		1,671		1,671		(3,342		)	1,286
Noncontrolling interests					150					150
Total liabilities and share owners’ equity	$	1,921	$	1,671	$	8,871	$	(3,592	)	$	8,871

Results of Operations

	Three months ended September 30, 2013
						Non-
				Guarantor		Guarantor
Results of Operations	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	1,784		$	—		$	1,784
Manufacturing, shipping and delivery						(1,432		)				(1,432		)
Gross profit	—			—		352			—			352
Research, engineering, selling, administrative, and other						(148		)				(148		)
Net intercompany interest	5					(5		)				—
Interest expense	(5		)			(51		)				(56		)
Interest income						2						2
Equity earnings from subsidiaries	130			130					(260		)	—
Other equity earnings						16						16
Other income						12						12
Earnings before income taxes	130			130		178			(260		)	178
Provision for income taxes						(40		)				(40		)
Earnings from continuing operations	130			130		138			(260		)	138
Loss from discontinued operations						(2		)				(2		)
Net earnings	130			130		136			(260		)	136
Net earnings attributable to noncontrolling interests						(6		)				(6		)
Net earnings attributable to the Company	$	130		$	130	$	130		$	(260	)	$	130

	Three months ended September 30, 2013
					Non-
			Guarantor		Guarantor
Comprehensive Income	Parent		Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net earnings	$	130	$	130	$	136		$	(260	)	$	136
Other comprehensive income (loss)	39		39		12			(51		)	39
Total comprehensive income (loss)	169		169		148			(311		)	175
Comprehensive income attributable to noncontrolling interests					(6		)				(6		)
Comprehensive income attributable to the Company	$	169	$	169	$	142		$	(311	)	$	169

	Three months ended September 30, 2012
						Non-
				Guarantor		Guarantor
Results of Operations	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	1,747		$	—		$	1,747
Manufacturing, shipping and delivery						(1,405		)				(1,405		)
Gross profit	—			—		342			—			342
Research, engineering, selling, administrative, and other						(180		)				(180		)
Net intercompany interest	5					(5		)				—
Interest expense	(5		)			(56		)				(61		)
Interest income						2						2
Equity earnings from subsidiaries	90			90					(180		)	—
Other equity earnings						16						16
Other income						8						8
Earnings from continuing operations before income taxes	90			90		127			(180		)	127
Provision for income taxes						(28		)				(28		)
Earnings from continuing operations	90			90		99			(180		)	99
Loss from discontinued operations						(2		)				(2		)
Net earnings	90			90		97			(180		)	97
Net earnings attributable to noncontrolling interests						(7		)				(7		)
Net earnings attributable to the Company	$	90		$	90	$	90		$	(180	)	$	90

	Three months ended September 30, 2012
					Non-
			Guarantor		Guarantor
Comprehensive Income	Parent		Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net earnings	$	90	$	90	$	97		$	(180	)	$	97
Other comprehensive income (loss)	103		103		81			(182		)	105
Total comprehensive income (loss)	193		193		178			(362		)	202
Comprehensive income attributable to noncontrolling interests					(9		)				(9		)
Comprehensive income attributable to the Company	$	193	$	193	$	169		$	(362	)	$	193

	Nine months ended September 30, 2013
						Non-
				Guarantor		Guarantor
Results of Operations	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	5,206		$	—		$	5,206
Manufacturing, shipping and delivery						(4,166		)				(4,166		)
Gross profit	—			—		1,040			—			1,040
Research, engineering, selling, administrative, and other						(465		)				(465		)
Net intercompany interest	15					(15		)				—
Interest expense	(15		)			(169		)				(184		)
Interest income						6						6
Equity earnings from subsidiaries	331			331					(662		)	—
Other equity earnings						49						49
Other income						26						26
Earnings before income taxes	331			331		472			(662		)	472
Provision for income taxes						(110		)				(110		)
Earnings from continuing operations	331			331		362			(662		)	362
Loss from discontinued operations						(15		)				(15		)
Net earnings	331			331		347			(662		)	347
Net earnings attributable to noncontrolling interests						(16		)				(16		)
Net earnings attributable to the Company	$	331		$	331	$	331		$	(662	)	$	331

	Nine months ended September 30, 2013
							Non-
				Guarantor			Guarantor
Comprehensive Income	Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings	$	331		$	331		$	347		$	(662	)	$	347
Other comprehensive income (loss)	(14		)	(14		)	(100		)	108			(20		)
Total comprehensive income (loss)	317			317			247			(554		)	327
Comprehensive income attributable to noncontrolling interests							(10		)				(10		)
Comprehensive income attributable to the Company	$	317		$	317		$	237		$	(554	)	$	317

	Nine months ended September 30, 2012
						Non-
				Guarantor		Guarantor
Results of Operations	Parent			Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	5,252		$	—		$	5,252
Manufacturing, shipping and delivery						(4,156		)				(4,156		)
Gross profit	—			—		1,096			—			1,096
Research, engineering, selling, administrative, and other						(510		)				(510		)
Net intercompany interest	15					(15		)				—
Interest expense	(15		)			(172		)				(187		)
Interest income						7						7
Equity earnings from subsidiaries	344			344					(688		)	—
Other equity earnings						47						47
Other income						23						23
Earnings from continuing operations before income taxes	344			344		476			(688		)	476
Provision for income taxes						(113		)				(113		)
Earnings from continuing operations	344			344		363			(688		)	363
Loss from discontinued operations						(4		)				(4		)
Net earnings	344			344		359			(688		)	359
Net earnings attributable to noncontrolling interests						(15		)				(15		)
Net earnings attributable to the Company	$	344		$	344	$	344		$	(688	)	$	344

	Nine months ended September 30, 2012
					Non-
			Guarantor		Guarantor
Comprehensive Income	Parent		Subsidiaries		Subsidiaries			Eliminations			Consolidated
Net earnings	$	344	$	344	$	359		$	(688	)	$	359
Other comprehensive income (loss)	51		51		(16		)	(29		)	57
Total comprehensive income (loss)	395		395		343			(717		)	416
Comprehensive income attributable to noncontrolling interests					(21		)				(21		)
Comprehensive income attributable to the Company	$	395	$	395	$	322		$	(717	)	$	395

Cash Flows

	Nine months ended September 30, 2013
						Non-
				Guarantor		Guarantor
Cash Flows	Parent			Subsidiaries		Subsidiaries			Eliminations		Consolidated
Cash provided by (used in) operating activities	$	(108	)	$	—	$	350		$	—	$	242
Cash used in investing activities						(249		)			(249		)
Cash provided by (used in) financing activities	108					(306		)			(198		)
Effect of exchange rate change on cash						(7		)			(7		)
Net change in cash	—			—		(212		)	—		(212		)
Cash at beginning of period						431					431
Cash at end of period	$	—		$	—	$	219		$	—	$	219

	Nine months ended September 30, 2012
						Non-
				Guarantor		Guarantor
Cash Flows	Parent			Subsidiaries		Subsidiaries			Eliminations		Consolidated
Cash provided by (used in) operating activities	$	(86	)	$	—	$	313		$	—	$	227
Cash used in investing activities						(125		)			(125		)
Cash provided by (used in) financing activities	86					(265		)			(179		)
Effect of exchange rate change on cash						13					13
Net change in cash	—			—		(64		)	—		(64		)
Cash at beginning of period						400					400
Cash at end of period	$	—		$	—	$	336		$	—	$	336