SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS

The 2021 Notes and the 2022 Notes are fully and unconditionally guaranteed on a joint and several basis by the Guarantor Subsidiaries. The total assets, stockholders' equity, revenue, earnings and cash flows from operating activities of the Guarantor Subsidiaries exceeded a majority of the consolidated total of such items as of and for the periods reported. The only consolidated subsidiaries of the Company that are not guarantors of the 2021 Notes and the 2022 Notes (the “Non-Guarantor Subsidiaries”) are: (a) the receivables securitization special-purpose entity; and (b) the foreign operating subsidiaries. The following tables present condensed consolidating financial statements including the Company (the “Parent”), the Guarantor Subsidiaries, and the Non-Guarantor Subsidiaries. Such financial statements include summary Condensed Consolidating Balance Sheets as of June 30, 2016 and March 31, 2016, Condensed Consolidating Statements of Comprehensive Income for the three months ended June 30, 2016 and 2015, and Condensed Consolidating Statements of Cash Flows for the three months ended June 30, 2016 and 2015.


12.	SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued)

SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS:



	June 30, 2016
	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
Current assets:
Cash and cash equivalents	$	617	$	806		$	29,876	$	—		$	31,299
Trade and other receivables, net	2,801		114,446			270,872		—			388,119
Inventories	—		1,232,020			123,134		—			1,355,154
Prepaid expenses and other	5,173		11,487			8,980		—			25,640
Total current assets	8,591		1,358,759			432,862		—			1,800,212
Property and equipment, net	7,029		730,404			130,296		—			867,729
Goodwill and other intangible assets, net	—		1,883,835			186,508		—			2,070,343
Other, net	16,348		71,135			20,640		—			108,123
Intercompany investments and advances	2,484,939		81,540			82,432		(2,648,911		)	—
Total assets	$	2,516,907	$	4,125,673		$	852,738	$	(2,648,911	)	$	4,846,407

Current liabilities:
Current portion of long-term debt	$	33,393	$	13,694		$	—	$	—		$	47,087
Accounts payable	7,647		374,596			48,820		—			431,063
Accrued expenses	40,538		530,910			34,920		—			606,368
Total current liabilities	81,578		919,200			83,740		—			1,084,518
Long-term debt, less current portion	1,277,630		59,595			155,100		—			1,492,325
Intercompany advances	200,845		2,111,492			357,239		(2,669,576		)	—
Accrued pension and other postretirement benefits, noncurrent	7,564		632,402			2,488		—			642,454
Deferred income taxes and other	11,356		628,440			49,380		—			689,176
Total stockholders’ equity	937,934		(225,456		)	204,791		20,665			937,934
Total liabilities and stockholders’ equity	$	2,516,907	$	4,125,673		$	852,738	$	(2,648,911	)	$	4,846,407

SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS:



	March 31, 2016
	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
Current assets:
Cash and cash equivalents	$	1,544	$	201		$	19,239	$	—		$	20,984
Trade and other receivables, net	2,057		127,968			314,183		—			444,208
Inventories	—		1,127,275			108,915		—			1,236,190
Prepaid expenses and other	6,524		26,433			8,302		—			41,259
Total current assets	10,125		1,281,877			450,639		—			1,742,641
Property and equipment, net	7,324		746,455			135,955		—			889,734
Goodwill and other intangible assets, net	—		1,898,401			195,465		—			2,093,866
Other, net	11,878		76,262			20,712		—			108,852
Intercompany investments and advances	2,301,054		81,540			82,930		(2,465,524		)	—
Total assets	$	2,330,381	$	4,084,535		$	885,701	$	(2,465,524	)	$	4,835,093

Current liabilities:
Current portion of long-term debt	$	28,473	$	13,968		$	—	$	—		$	42,441
Accounts payable	11,154		346,602			52,469		—			410,225
Accrued expenses	44,856		599,921			38,431		—			683,208
Total current liabilities	84,483		960,491			90,900		—			1,135,874
Long-term debt, less current portion	1,120,570		63,009			191,300		—			1,374,879
Intercompany advances	171,480		1,972,729			330,176		(2,474,385		)	—
Accrued pension and other postretirement benefits, noncurrent	7,315		654,201			3,148		—			664,664
Deferred income taxes and other	11,589		658,873			54,270		—			724,732
Total stockholders’ equity	934,944		(224,768		)	215,907		8,861			934,944
Total liabilities and stockholders’ equity	$	2,330,381	$	4,084,535		$	885,701	$	(2,465,524	)	$	4,835,093

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Three Months Ended June 30, 2016
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	817,345		$	94,651		$	(18,743	)	$	893,253

Operating costs and expenses:
Cost of sales	—			668,539			76,592			(18,743		)	726,388
Selling, general and administrative	14,444			45,907			7,675			—			68,026
Depreciation and amortization	383			40,766			4,313			—			45,462
Restructuring	1,860			4,791			—			—			6,651
	16,687			760,003			88,580			(18,743		)	846,527
Operating (loss) income	(16,687		)	57,342			6,071			—			46,726
Intercompany interest and charges	(51,564		)	49,173			2,391			—			—
Interest expense and other	17,375			2,282			(1,531		)	—			18,126
Income before income taxes	17,502			5,887			5,211			—			28,600
Income tax expense	2,050			5,289			1,527			—			8,866
Net income	15,452			598			3,684			—			19,734
Other comprehensive loss	(566		)	(1,572		)	(14,797		)	—			(16,935		)
Total comprehensive income (loss)	$	14,886		$	(974	)	$	(11,113	)	$	—		$	2,799

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Three Months Ended June 30, 2015
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	885,443	$	86,137		$	(11,942	)	$	959,638

Operating costs and expenses:
Cost of sales	—			672,310		71,726			(11,942		)	732,094
Selling, general and administrative	13,151			52,439		7,691			—			73,281
Depreciation and amortization	399			35,042		8,093			—			43,534
Curtailment charge	2,863			—		—			—			2,863
	16,413			759,791		87,510			(11,942		)	851,772
Operating (loss) income	(16,413		)	125,652		(1,373		)	—			107,866
Intercompany interest and charges	(53,590		)	51,511		2,079			—			—
Interest expense and other	14,517			2,890		709			—			18,116
Income before income taxes	22,660			71,251		(4,161		)	—			89,750
Income tax (benefit) expense	(13		)	26,395		636			—			27,018
Net income (loss)	22,673			44,856		(4,797		)	—			62,732
Other comprehensive income	1,019			6,836		10,933			—			18,788
Total comprehensive income	$	23,692		$	51,692	$	6,136		$	—		$	81,520

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:



	For the Three Months Ended June 30, 2016
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net income	$	15,452		$	598		$	3,684		$	—		$	19,734

Adjustments to reconcile net income to net cash provided by (used in) operating activities	(2,131		)	(121,953		)	19,688			627			(103,769		)
Net cash provided by (used in) operating activities	13,321			(121,355		)	23,372			627			(84,035		)
Capital expenditures	(130		)	(8,961		)	(3,632		)	—			(12,723		)
Proceeds from sale of assets	—			108			840			—			948
Acquisitions, net of cash acquired	—			9			—			—			9
Net cash used in investing activities	(130		)	(8,844		)	(2,792		)	—			(11,766		)
Net increase in revolving credit facility	174,091			—			—			—			174,091
Retirements and repayments of debt	(7,102		)	(3,687		)	(36,200		)	—			(46,989		)
Payments of deferred financing costs	(10,689		)	—			—			—			(10,689		)
Dividends paid	(1,981		)	—			—			—			(1,981		)
Repayment of governmental grant	—			(7,285		)	—			—			(7,285		)
Repurchase of restricted shares for minimum tax obligation	(171		)	—			—			—			(171		)
Intercompany financing and advances	(168,266		)	141,776			27,117			(627		)	—
Net cash (used in) provided by financing activities	(14,118		)	130,804			(9,083		)	(627		)	106,976
Effect of exchange rate changes on cash	—			—			(860		)	—			(860		)
Net change in cash and cash equivalents	(927		)	605			10,637			—			10,315
Cash and cash equivalents at beginning of period	1,544			201			19,239			—			20,984
Cash and cash equivalents at end of period	$	617		$	806		$	29,876		$	—		$	31,299

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:



	For the Three Months Ended June 30, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net income	$	22,673		$	44,856		$	(4,797	)	$	—		$	62,732

Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities	(13,821		)	(207,408		)	11,497			(1,390		)	(211,122		)
Net cash provided by (used in) operating activities	8,852			(162,552		)	6,700			(1,390		)	(148,390		)
Capital expenditures	(257		)	(15,286		)	(2,473		)	—			(18,016		)
Proceeds from sale of assets	—			402			152			—			554
Acquisitions, net of cash acquired	—			14			(6,000		)	—			(5,986		)
Net cash used in investing activities	(257		)	(14,870		)	(8,321		)	—			(23,448		)
Net increase in revolving credit facility	96,541			—			—			—			96,541
Proceeds on issuance of debt	—			2,632			96,300			—			98,932
Retirements and repayments of debt	(4,754		)	(5,672		)	(5,600		)	—			(16,026		)
Payments of deferred financing costs	(71		)	—			—			—			(71		)
Dividends paid	(1,971		)	—			—			—			(1,971		)
Repurchase of restricted shares for minimum tax obligation	(96		)	—			—			—			(96		)
Repayment of government grant	—			—			(82		)	—			(82		)
Intercompany financing and advances	(98,318		)	180,313			(83,385		)	1,390			—
Net cash (used in) provided by financing activities	(8,669		)	177,273			7,233			1,390			177,227
Effect of exchange rate changes on cash	—			—			1,665			—			1,665
Net change in cash and cash equivalents	(74		)	(149		)	7,277			—			7,054
Cash and cash equivalents at beginning of period	620			419			31,578			—			32,617
Cash and cash equivalents at end of period	$	546		$	270		$	38,855		$	—		$	39,671