GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Consolidating Balance Sheet

March 31, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Assets
Current assets:
Cash and cash equivalents	$	66,820		$	13,699		$	16,685		$	—		$	97,204
Accounts receivable, net	105,193			288,152			23,444			—			416,789
Inventories	31,976			7,096			3			—			39,075
Prepaid expenses and other (including intercompany)	1,676,941			4,214,870			1,994			(5,863,211		)	30,594
Total current assets	1,880,930			4,523,817			42,126			(5,863,211		)	583,662
Property, plant and equipment, net	22,775			89,721			1,106			—			113,602
Goodwill	23,699			601,750			6,989			—			632,438
Other intangible assets, net	11,529			199,913			—			—			211,442
Investments	664,519			17,471			—			(679,264		)	2,726
Intercompany note receivable (payable)	328,973			(312,717		)	(16,256		)	—			—
Other assets	7,420			3,256			12			—			10,688
Total assets	$	2,939,845		$	5,123,211		$	33,977		$	(6,542,475	)	$	1,554,558

Liabilities and Stockholders’ Equity
Current liabilities:
Current portion, long-term debt	$	26,250		$	—		$	—		$	—		$	26,250
Accounts payable and intercompany payable	1,799,764			4,325,807			14,205			(5,863,211		)	276,565
Progress billings	18,145			6,934			11,240			—			36,319
Accrued expenses	45,067			27,524			6,570			—			79,161
Total current liabilities	1,889,226			4,360,265			32,015			(5,863,211		)	418,295
Long-term debt	557,561			—			—			—			557,561
Deferred income taxes	(3,765		)	65,398			(4,009		)	—			57,624
Other non-current liabilities	16,446			35,466			(11,211		)	—			40,701
Total liabilities	2,459,468			4,461,129			16,795			(5,863,211		)	1,074,181
Stockholders’ equity	480,377			662,082			17,182			(679,264		)	480,377
Total liabilities and stockholders’ equity	$	2,939,845		$	5,123,211		$	33,977		$	(6,542,475	)	$	1,554,558

Condensed Consolidating Balance Sheet

December 31, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Assets
Current assets:
Cash and cash equivalents	$	62,836		$	10,745		$	21,130		$	—		$	94,711
Accounts receivable, net	116,821			287,230			22,848			—			426,899
Inventories	35,421			7,829			3			—			43,253
Prepaid expenses and other (including intercompany)	1,520,526			3,706,682			1,998			(5,192,617		)	36,589
Total current assets	1,735,604			4,012,486			45,979			(5,192,617		)	601,452
Property, plant and equipment, net	19,159			105,667			1,006			—			125,832
Goodwill	23,699			601,750			6,989			—			632,438
Other intangible assets, net	11,534			203,637			—			—			215,171
Investments	645,411			15,375			—			(658,355		)	2,431
Intercompany note receivable (payable)	364,921			(360,830		)	(4,091		)	—			—
Other assets	7,543			4,157			11			—			11,711
Total assets	$	2,807,871		$	4,582,242		$	49,894		$	(5,850,972	)	$	1,589,035

Liabilities and Stockholders’ Equity
Current liabilities:
Current portion, long-term debt	$	22,500		$	—		$	—		$	—		$	22,500
Accounts payable and intercompany payable	1,653,928			3,804,209			15,800			(5,192,617		)	281,320
Progress billings	16,459			7,758			15,378			—			39,595
Accrued expenses	61,741			38,878			6,848			—			107,467
Total current liabilities	1,754,628			3,850,845			38,026			(5,192,617		)	450,882
Long-term debt	565,061			—			—			—			565,061
Deferred income taxes	(4,131		)	65,398			(4,009		)	—			57,258
Other non-current liabilities	18,750			22,722			799			—			42,271
Total liabilities	2,334,308			3,938,965			34,816			(5,192,617		)	1,115,472
Stockholders’ equity	473,563			643,277			15,078			(658,355		)	473,563
Total liabilities and stockholders’ equity	$	2,807,871		$	4,582,242		$	49,894		$	(5,850,972	)	$	1,589,035

Condensed consolidating statement of comprehensive income

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	171,291		$	430,014		$	17,382		$	(100,102	)	$	518,585
Costs and expenses:
Cost of sales	145,142			283,095			11,928			(51,271		)	388,894
Selling, general and administrative	20,370			102,794			3,284			(48,831		)	77,617
Amortization expense	6			3,150			—			—			3,156
Total costs and expenses	165,518			389,039			15,212			(100,102		)	469,667
Earnings from operations	5,773			40,975			2,170			—			48,918
Other expenses and income:
Interest expense	7,054			—			—			—			7,054
Interest income	(22		)	—			(36		)	—			(58		)
Intercompany interest	(8,967		)	8,967			—			—			—
Other expenses (income), net	(144		)	(616		)	63			—			(697		)
Total other expenses (income), net	(2,079		)	8,351			27			—			6,299
Earnings before income taxes	7,852			32,624			2,143			—			42,619
Income tax expense	2,418			13,360			420			—			16,198
Equity in net earnings of subsidiaries	20,987			1,723			—			(22,710		)	—
Net earnings	$	26,421		$	20,987		$	1,723		$	(22,710	)	$	26,421
Other comprehensive income (loss)	(54		)	350			350			(700		)	(54		)
Comprehensive income	$	26,367		$	21,337		$	2,073		$	(23,410	)	$	26,367

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	137,070		$	440,441		$	14,822		$	(109,811	)	$	482,522
Costs and expenses:
Cost of sales	108,443			299,013			10,736			(57,424		)	360,768
Selling, general and administrative	21,625			103,825			3,269			(52,387		)	76,332
Amortization expense	6			3,723			—			—			3,729
Total costs and expenses	130,074			406,561			14,005			(109,811		)	440,829
Earnings from operations	6,996			33,880			817			—			41,693
Other expenses and income:
Interest expense	7,679			—			—			—			7,679
Interest income	(18		)	—			(44		)	—			(62		)
Intercompany interest	(9,050		)	9,050			—			—			—
Other expenses (income), net	7			712			(1,021		)	—			(302		)
Total other expenses (income), net	(1,382		)	9,762			(1,065		)	—			7,315
Earnings before income taxes	8,378			24,118			1,882			—			34,378
Income tax expense	941			11,472			296			—			12,709
Equity in net earnings of subsidiaries	14,232			1,586			—			(15,818		)	—
Net earnings	$	21,669		$	14,232		$	1,586		$	(15,818	)	$	21,669
Other comprehensive loss	(494		)	(1,112		)	(1,112		)	2,224			(494		)
Comprehensive income	$	21,175		$	13,120		$	474		$	(13,594	)	$	21,175

Condensed consolidating statement of cash flows

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Total
Net cash provided by (used in) operating activities	$	35,072		$	(19,760	)	$	(938	)	$	—	$	14,374
Cash flows from investing activities:
Additions to property, plant and equipment	(2,372		)	(6,736		)	(157		)	—		(9,265		)
Proceeds from sale of property, plant and equipment	79			—			—			—		79
Net cash used in investing activities	(2,293		)	(6,736		)	(157		)	—		(9,186		)
Cash flows from financing activities:
Cash provided by (used in) intercompany activity	(24,889		)	24,889			—			—		—
Repayments of long-term debt	(3,750		)	—			—			—		(3,750		)
Repurchases of common stock	(1,366		)	—			—			—		(1,366		)
Proceeds from issuance of common stock	5,685			—			—			—		5,685
Net cash provided by (used in) financing activities	(24,320		)	24,889			—			—		569
Effect of exchange rate changes on cash and cash equivalents	—			—			(529		)	—		(529		)
Net increase (decrease) in cash and cash equivalents	8,459			(1,607		)	(1,624		)	—		5,228
Cash and cash equivalents at beginning of period	68,887			7,543			25,541			—		101,971
Cash and cash equivalents at end of period	$	77,346		$	5,936		$	23,917		$	—	$	107,199

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Total
Net cash provided by (used in) operating activities	$	13,200		$	13,877		$	(3,627	)	$	—	$	23,450
Cash flows from investing activities:
Additions to property, plant and equipment	(568		)	(2,577		)	(197		)	—		(3,342		)
Proceeds from sale of property, plant and equipment	—			5,099			—			—		5,099
Net cash provided by (used in) investing activities	(568		)	2,522			(197		)	—		1,757
Cash flows from financing activities:
Cash provided by (used in) intercompany activity	13,445			(13,445		)	—			—		—
Repayments of long-term debt	(3,750		)	—			—			—		(3,750		)
Dividends paid on common shares and restricted stock	(12,011		)	—			—			—		(12,011		)
Repurchases of common stock	(21,168		)	—			—			—		(21,168		)
Proceeds from issuance of common stock	14,836			—			—			—		14,836
Net cash used in financing activities	(8,648		)	(13,445		)	—			—		(22,093		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(621		)	—		(621		)
Net increase (decrease) in cash and cash equivalents	3,984			2,954			(4,445		)	—		2,493
Cash and cash equivalents at beginning of period	62,836			10,745			21,130			—		94,711
Cash and cash equivalents at end of period	$	66,820		$	13,699		$	16,685		$	—	$	97,204