Schedule of Condensed Financial Statements [Text Block] |
Note 12. CONTINUED | | | | | | | | | | | | | | | | | Allegheny Technologies Incorporated | | | | | Financial Information for Subsidiary and Guarantor Parent | | | | | Balance Sheets | | | | | June 30, 2011 | | | | | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Assets: | | | | | | | | | | | Cash and cash equivalents | $ | 6.4 | $ | 126.2 | $ | 235.2 | $ | - | $ | 367.8 | Accounts receivable, net | | 0.2 | | 307.3 | | 500.6 | | - | | 808.1 | Inventories, net | | - | | 374.8 | | 1,090.6 | | - | | 1,465.4 | Deferred income taxes | | 13.5 | | - | | - | | - | | 13.5 | Prepaid expenses and other current | | | | | | | | | | | | assets | | 0.6 | | 7.9 | | 27.8 | | - | | 36.3 | Total current assets | | 20.7 | | 816.2 | | 1,854.2 | | - | | 2,691.1 | Property, plant and equipment, net | | 2.5 | | 512.0 | | 1,778.2 | | - | | 2,292.7 | Cost in excess of net assets acquired | | - | | 112.1 | | 578.5 | | - | | 690.6 | Investments in subsidiaries and | | | | | | | | | | | | other assets | | 5,431.1 | | 1,494.2 | | 1,220.7 | | (7,771.4) | | 374.6 | Total assets | $ | 5,454.3 | $ | 2,934.5 | $ | 5,431.6 | $ | (7,771.4) | $ | 6,049.0 | | | | | | | | | | | | | Liabilities and stockholders’ equity: | | | | | | | | | | | Accounts payable | $ | 3.8 | $ | 249.1 | $ | 250.7 | $ | - | $ | 503.6 | Accrued liabilities | | 1,139.3 | | 61.9 | | 798.5 | | (1,658.7) | | 341.0 | Short-term debt and current portion | | | | | | | | | | | | of long-term debt | | 117.0 | | 5.3 | | 31.9 | | - | | 154.2 | Total current liabilities | | 1,260.1 | | 316.3 | | 1,081.1 | | (1,658.7) | | 998.8 | Long-term debt | | 1,252.5 | | 350.6 | | 93.4 | | (200.0) | | 1,496.5 | Accrued postretirement benefits | | - | | 223.0 | | 216.2 | | - | | 439.2 | Pension liabilities | | 12.8 | | 5.9 | | 78.7 | | - | | 97.4 | Deferred income taxes | | 109.6 | | - | | - | | - | | 109.6 | Other long-term liabilities | | 39.3 | | 16.7 | | 71.5 | | - | | 127.5 | Total liabilities | | 2,674.3 | | 912.5 | | 1,540.9 | | (1,858.7) | | 3,269.0 | Total stockholders’ equity | | 2,780.0 | | 2,022.0 | | 3,890.7 | | (5,912.7) | | 2,780.0 | Total liabilities and stockholders’ | | | | | | | | | | | | equity | $ | 5,454.3 | $ | 2,934.5 | $ | 5,431.6 | $ | (7,771.4) | $ | 6,049.0 |
Note 12. CONTINUED | | | | | | | | | | | | | Allegheny Technologies Incorporated | Financial Information for Subsidiary and Guarantor Parent | Statements of Income | For the six months ended June 30, 2011 | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Sales | $ | - | $ | 1,255.0 | $ | 1,324.0 | $ | - | $ | 2,579.0 | Cost of sales | | 15.4 | | 1,115.7 | | 1,019.5 | | - | | 2,150.6 | Selling and administrative expenses | | 90.3 | | 19.6 | | 78.1 | | - | | 188.0 | Income (loss) before interest, other | | | | | | | | | | | | income and income taxes | | (105.7) | | 119.7 | | 226.4 | | - | | 240.4 | Interest expense, net | | (41.5) | | (5.1) | | (0.1) | | - | | (46.7) | Other income including | | | | | | | | | | | | equity in income of unconsolidated | | | | | | | | | | | | subsidiaries | | 341.3 | | 1.8 | | 0.1 | | (342.8) | | 0.4 | Income before income tax provision | | 194.1 | | 116.4 | | 226.4 | | (342.8) | | 194.1 | Income tax provision | | 69.4 | | 44.1 | | 81.5 | | (125.6) | | 69.4 | Net income | | 124.7 | | 72.3 | | 144.9 | | (217.2) | | 124.7 | Less: Net income attributable to | | | | | | | | | | | | noncontrolling interest | | 4.4 | | - | | 4.4 | | (4.4) | | 4.4 | Net income attributable to ATI | $ | 120.3 | $ | 72.3 | $ | 140.5 | $ | (212.8) | $ | 120.3 |
Condensed Statements of Cash Flows | | | For the six months ended June 30, 2011 | | | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Cash flows provided by (used in) | | | | | | | | | | | | operating activities | $ | 39.3 | $ | (75.2) | $ | (25.7) | $ | (10.4) | $ | (72.0) | | | | | | | | | | | | | Cash flows used in investing activities | | (384.1) | | (48.0) | | (12.2) | | - | | (444.3) | | | | | | | | | | | | | Cash flows provided by | | | | | | | | | | | | financing activities | | 349.3 | | 90.3 | | 1.8 | | 10.4 | | 451.8 | Increase (decrease) in cash | | | | | | | | | | | | and cash equivalents | $ | 4.5 | $ | (32.9) | $ | (36.1) | $ | - | $ | (64.5) |
Note 12. CONTINUED | | | | | | | | | | | | | | | | | | | | | | | Allegheny Technologies Incorporated | | | | | Financial Information for Subsidiary and Guarantor Parent | | | | | Balance Sheets | | | | | December 31, 2010 | | | | | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Assets: | | | | | | | | | | | Cash and cash equivalents | $ | 1.9 | $ | 159.1 | $ | 271.3 | $ | - | $ | 432.3 | Accounts receivable, net | | 0.1 | | 233.3 | | 312.0 | | - | | 545.4 | Inventories, net | | - | | 232.6 | | 791.9 | | - | | 1,024.5 | Prepaid expenses and other current | | | | | | | | | | | | assets | | 48.6 | | 19.2 | | 45.1 | | - | | 112.9 | Total current assets | | 50.6 | | 644.2 | | 1,420.3 | | - | | 2,115.1 | Property, plant and equipment, net | | 2.8 | | 483.5 | | 1,503.0 | | - | | 1,989.3 | Cost in excess of net assets acquired | | - | | 112.2 | | 94.6 | | - | | 206.8 | Investments in subsidiaries and | | | | | | | | | | | | other assets | | 4,249.2 | | 1,554.2 | | 1,001.0 | | (6,622.0) | | 182.4 | Total assets | $ | 4,302.6 | $ | 2,794.1 | $ | 4,018.9 | $ | (6,622.0) | $ | 4,493.6 | | | | | | | | | | | | | Liabilities and stockholders’ equity: | | | | | | | | | | | Accounts payable | $ | 5.5 | $ | 173.3 | $ | 215.3 | $ | - | $ | 394.1 | Accrued liabilities | | 1,179.3 | | 62.9 | | 704.8 | | (1,697.1) | | 249.9 | Deferred income taxes | | 5.6 | | - | | - | | - | | 5.6 | Short-term debt and current portion | | | | | | | | | | | | of long-term debt | | 117.3 | | 10.4 | | 13.7 | | - | | 141.4 | Total current liabilities | | 1,307.7 | | 246.6 | | 933.8 | | (1,697.1) | | 791.0 | Long-term debt | | 752.5 | | 350.8 | | 18.6 | | (200.0) | | 921.9 | Accrued postretirement benefits | | - | | 236.6 | | 187.2 | | - | | 423.8 | Pension liabilities | | 12.9 | | 6.2 | | 39.2 | | - | | 58.3 | Deferred income taxes | | 68.6 | | - | | - | | - | | 68.6 | Other long-term liabilities | | 31.5 | | 20.0 | | 49.1 | | - | | 100.6 | Total liabilities | | 2,173.2 | | 860.2 | | 1,227.9 | | (1,897.1) | | 2,364.2 | Total stockholders’ equity | | 2,129.4 | | 1,933.9 | | 2,791.0 | | (4,724.9) | | 2,129.4 | Total liabilities and stockholders’ | | | | | | | | | | | | equity | $ | 4,302.6 | $ | 2,794.1 | $ | 4,018.9 | $ | (6,622.0) | $ | 4,493.6 |
Note 12. CONTINUED | | | | | | | | | | | | | Allegheny Technologies Incorporated | Financial Information for Subsidiary and Guarantor Parent | Statements of Income | For the six months ended June 30, 2010 | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Sales | $ | - | $ | 1,007.0 | $ | 944.4 | $ | - | $ | 1,951.4 | Cost of sales | | 21.0 | | 927.1 | | 730.1 | | - | | 1,678.2 | Selling and administrative expenses | | 55.3 | | 22.0 | | 72.9 | | - | | 150.2 | Income (loss) before interest, other | | | | | | | | | | | | income and income taxes | | (76.3) | | 57.9 | | 141.4 | | - | | 123.0 | Interest expense, net | | (24.8) | | (5.1) | | (0.1) | | - | | (30.0) | Other income including | | | | | | | | | | | | equity in income of unconsolidated | | | | | | | | | | | | subsidiaries | | 194.7 | | 2.9 | | 2.1 | | (199.1) | | 0.6 | Income before income tax provision | | 93.6 | | 55.7 | | 143.4 | | (199.1) | | 93.6 | Income tax provision | | 35.6 | | 19.7 | | 53.6 | | (73.3) | | 35.6 | Net income | | 58.0 | | 36.0 | | 89.8 | | (125.8) | | 58.0 | Less: Net income attributable to | | | | | | | | | | | | noncontrolling interest | | 3.4 | | - | | 3.4 | | (3.4) | | 3.4 | Net income attributable to ATI | $ | 54.6 | $ | 36.0 | $ | 86.4 | $ | (122.4) | $ | 54.6 |
Condensed Statements of Cash Flows | For the six months ended June 30, 2010 | | | Guarantor | | | Non-guarantor | | | | | (In millions) | Parent | Subsidiary | Subsidiaries | Eliminations | Consolidated | Cash flows provided by (used in) | | | | | | | | | | | | operating activities | $ | (12.2) | $ | (257.5) | $ | 101.7 | $ | (25.4) | $ | (193.4) | | | | | | | | | | | | | Cash flows used in investing activities | | - | | (24.8) | | (71.8) | | - | | (96.6) | | | | | | | | | | | | | Cash flows provided by (used in) | | | | | | | | | | | | financing activities | | 11.4 | | (57.4) | | (19.5) | | 25.4 | | (40.1) | Increase (decrease) in cash | | | | | | | | | | | | and cash equivalents | $ | (0.8) | $ | (339.7) | $ | 10.4 | $ | - | $ | (330.1) |
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