Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2016



CONDENSED CONSOLIDATING BALANCE SHEETS
As of December 31, 2015
(in thousands)
							Consolidating
					Non-		Entries and
	Parent		Guarantors		Guarantors		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	646	$	6,281	$	—		$	6,927
Accounts receivable - affiliates	51,592		9,803		19,505		(80,900		)	—
Accounts receivable - trade	—		7,599		74,791		—			82,390
Inventories	—		54,613		163,517		—			218,130
Prepaid and other current assets	—		7,913		13,244		—			21,157
Current assets of discontinued operations	—		81,638		17,520		(877		)	98,281
Total current assets	51,592		162,212		294,858		(81,777		)	426,885

Investment in affiliates	1,068,027		668,113		—		(1,736,140		)	—
Property, plant and equipment	—		209,633		341,530		—			551,163
Deferred income taxes	—		—		15,326		—			15,326
Goodwill	—		72,399		99,660		—			172,059
Notes receivable - affiliate	—		46,074		—		(46,074		)	—
Other assets	—		79,367		73,246		—			152,613
Long-term assets of discontinued operations	—		99,457		4,518		—			103,975
Total Assets	$	1,119,619	$	1,337,255	$	829,138	$	(1,863,991	)	$	1,422,021

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	159	$	71,099	$	9,642	$	(80,900	)	$	—
Accounts payable - trade	—		11,191		28,956		—			40,147
Short-term debt	—		4,636		136		—			4,772
Accrued income and other taxes	—		2,824		3,109		—			5,933
Rationalizations	—		995		200		—			1,195
Other accrued liabilities	2,444		4,847		13,703		—			20,994
Short-term liabilities of discontinued operations	—		18,384		5,575		(877		)	23,082
Total current liabilities	2,603		113,976		61,321		(81,777		)	96,123

Long-term debt - affiliate	38,661		—		7,413		(46,074		)	—
Long-term debt - third party	267,827		93,758		870		—			362,455
Other long-term obligations	—		60,508		33,810		—			94,318
Deferred income taxes	—		248		57,182		—			57,430
Long-term liabilities of discontinued operations	—		738		429		—			1,167
Stockholders' equity	810,528		1,068,027		668,113		(1,736,140		)	810,528
Total Liabilities and Stockholders' Equity	$	1,119,619	$	1,337,255	$	829,138	$	(1,863,991	)	$	1,422,021



CONDENSED CONSOLIDATING BALANCE SHEETS
As of September 30, 2016
(in thousands)
								Consolidating
					Non-			Entries and
	Parent		Guarantors		Guarantors			Eliminations				Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	1,266	$	10,881		$	—			$	12,147
Accounts receivable - affiliates	51,592		1,729		19,372			(72,693		)		—
Accounts receivable - trade	—		7,579		67,034			—				74,613
Inventories	—		46,972		119,711			—				166,683
Prepaid and other current assets	—		9,155		13,637			—				22,792
Current assets of discontinued operations	—		82,738		18,068			(5,920		)		94,886
Total current assets	51,592		149,439		248,703			(78,613		)		371,121

Investment in affiliates	914,173		623,611		—			(1,537,784		)		—
Property, plant and equipment	—		198,577		334,340			—				532,917
Deferred income taxes	—		—		20,324			—				20,324
Goodwill	—		70,399		100,718			—				171,117
Notes receivable - affiliate	—		56,235		—			(56,235		)		—
Other assets	—		71,126		72,005			—				143,131
Total Assets	$	965,765	$	1,169,387	$	776,090		$	(1,672,632	)		$	1,238,610

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	269	$	70,960	$	1,464		$	(72,693	)		$	—
Accounts payable - trade	—		8,711		33,271			—				41,982
Short-term debt	—		5,824		641			—				6,465
Accrued income and other taxes	—		1,467		4,110			—				5,577
Rationalizations	—		195		15			—				210
Other accrued liabilities	7,225		5,879		16,365			—				29,469
Liabilities of discontinued operations	—		15,504		7,369			(5,920		)		16,953
Total current liabilities	7,494		108,540		63,235			(78,613		)		100,656

Long-term debt - affiliate	48,822		—		7,413			(56,235		)		—
Long-term debt - third party	272,542		90,656		934			—				364,132
Other long-term obligations	—		55,091		34,090			—				89,181
Deferred income taxes	—		249		46,618			—				46,867
Long-term liabilities of discontinued operations	—		678		189		—	—			—	867
Stockholders' equity	636,907		914,173		623,611			(1,537,784		)		636,907
Total Liabilities and Stockholders' Equity	$	965,765	$	1,169,387	$	776,090		$	(1,672,632	)		$	1,238,610

Condensed Consolidating Statements of Income and Comprehensive Income



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Period January 1 through August 14, 2015 (Predecessor)
(in thousands)

										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	117,366		$	52,683		$	(170,049	)		$	—
Sales - third party	—			80,243			259,664			—				339,907
Net sales	—			197,609			312,347			(170,049		)		339,907
Cost of sales	—			180,983			294,067			(170,049		)		305,001
Gross profit	—			16,626			18,280			—				34,906

Research and development	—			3,377			—			—				3,377
Selling and administrative expenses	6,750			31,513			26,120			—				64,383
Impairments	—			35,381			—			—				35,381
Rationalizations	—			(68		)	82			—				14
Operating income (loss)	(6,750		)	(53,577		)	(7,922		)	—				(68,249		)

Other expense (income), net	—			889			532			—				1,421
Interest expense - affiliate	3			372			—			(375		)		—
Interest expense - third party	24,366			1,574			271			—				26,211
Interest income - affiliate	(372		)	(3		)	—			375				—
Interest income - third party	—			—			(363		)	—				(363		)
Loss from continuing operations before provision for income taxes	(30,747		)	(56,409		)	(8,362		)	—			`	(95,518		)

Provision for income taxes	—			384			6,068			—				6,452
Equity in loss from continuing operations of subsidiary	(71,223		)	(14,430		)	—			85,653				—
Net (loss) income from continuing operations	(101,970		)	(71,223		)	(14,430		)	85,653				(101,970		)

Loss from discontinued operations, net of tax	—			(13,430		)	(5,249		)	—				(18,679		)
Equity in loss from discontinued operations of subsidiary	(18,679		)	(5,249		)	—			23,928				—
Net (loss) income from discontinued operations	(18,679		)	(18,679		)	(5,249		)	23,928				(18,679		)

Net loss	$	(120,649	)	$	(89,902	)	$	(19,679	)	$	109,581			$	(120,649	)


Statements of Comprehensive Income (Loss)

Net loss	$	(120,649	)	$	(89,902	)	$	(19,679	)	$	109,581			$	(120,649	)
Other comprehensive loss	(26,674		)	(26,674		)	(28,041		)	54,715				(26,674		)
Comprehensive loss	$	(147,323	)	$	(116,576	)	$	(47,720	)	$	164,296			$	(147,323	)

Condensed Consolidating Statements of Cash Flows



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Period January 1 through August 14, 2015 (Predecessor)
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities:	$	(4,017	)	$	34,418		$	25,632		$	(27,710	)	$	28,323

Cash flow from investing activities:
Repayments from (loans to) affiliates	36,204			(21,343		)	—			(14,861		)	—
Capital expenditures	—			(20,572		)	(11,729		)	—			(32,301		)
Payments for derivative instruments	—			(7,595		)	(668		)	—			(8,263		)
Proceeds from sale of fixed assets	—			397			249			—			646
Net cash provided by (used in) investing activities	36,204			(49,113		)	(12,148		)	(14,861		)	(39,918		)

Cash flow from financing activities:
Loans from (Repayments to) affiliates	21,343			(36,204		)	—			14,861			—
Dividends to affiliates	—			—			(27,710		)	27,710			—
Short-term debt, net	—			14,002			4,509			—			18,511
Revolving Facility borrowings	—			126,000			34,000			—			160,000
Revolving Facility reductions	—			(87,000		)	(12,000		)	—			(99,000		)
Repayment of Senior Subordinated Notes	(200,000		)	—			—			—			(200,000		)
Issuance of Preferred Shares	150,000			—			—			—			150,000
Principal payments on long term debt	—			(89		)	—			—			(89		)
Proceeds from exercise of stock options	32			—			—			—			32
Purchase of treasury shares	(63		)	—			—			—			(63		)
Revolver facility refinancing	—			(5,037		)	(31		)	—			(5,068		)
Other	(3,499		)	—			—			—			(3,499		)
Net cash (used in) provided by financing activities	(32,187		)	11,672			(1,232		)	42,571			20,824

Net change in cash and cash equivalents	—			(3,023		)	12,252			—			9,229
Effect of exchange rate changes on cash and cash equivalents	—			—			(1,746		)	—			(1,746		)
Cash and cash equivalents at beginning of period	—			5,503			12,047			—			17,550
Cash and cash equivalents at end of period	$	—		$	2,480		$	22,553		$	—		$	25,033