Supplemental Guarantor Condensed Financial Information (Tables)

3 Months Ended

Mar. 29, 2013

Supplemental Guarantor Condensed Financial Information [Abstract]

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

MARCH 29, 2013
(in thousands)

(unaudited)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,716		$	2,471		$	—		$	4,187
Accounts receivable, less allowance for doubtful accounts	—			44,682			44,110			—			88,792
Inventories, net	—			74,331			30,076			—			104,407
Income taxes receivable	—			222			895			—			1,117
Deferred income taxes	—			794			110			—			904
Other current assets	—			3,967			3,824			—			7,791
Total current assets	—			125,712			81,486			—			207,198
Property, plant and equipment, net	—			67,200			65,079			—			132,279
Amounts due from affiliates	—			209,113			23,538			(232,651		)	—
Goodwill	—			81,355			114,230			—			195,585
Customer relationships, net	—			31,440			18,957			—			50,397
Other intangible assets, net	—			7,327			—			—			7,327
Investment in consolidated subsidiaries	(108,672		)	13,485			—			95,187			—
Deferred income taxes	—			—			77			—			77
Other assets	—			8,314			1,996			—			10,310
Total assets	$	(108,672	)	$	543,946		$	305,363		$	(137,464	)	$	603,173
LIABILITIES AND SHAREHOLDERS’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	44,699		$	22,800		$	—		$	67,499
Accrued expenses and other current liabilities	16			14,725			13,293			—			28,034
Accrued interest payable	—			17,907			—			—			17,907
Current portion of long-term debt	—			—			11,510			—			11,510
Deferred income taxes	—			—			823			—			823
Total current liabilities	16			77,331			48,426			—			125,773
Long-term debt	—			524,611			—			—			524,611
Amounts due to affiliates	4,753			14,757			213,141			(232,651		)	—
Deferred income taxes	—			12,628			8,025			—			20,653
Other liabilities	—			23,291			22,286			—			45,577
Total liabilities	4,769			652,618			291,878			(232,651		)	716,614
Shareholders’ (deficit) equity:
Common stock	189			—			21			(21		)	189
Additional paid-in capital	722,637			659,738			199,453			(859,191		)	722,637
Accumulated loss	(846,971		)	(779,114		)	(200,742		)	979,856			(846,971		)
Accumulated other comprehensive income	10,704			10,704			14,753			(25,457		)	10,704
Total shareholders’ (deficit) equity	(113,441		)	(108,672		)	13,485			95,187			(113,441		)
Total liabilities and shareholders’ (deficit) equity	$	(108,672	)	$	543,946		$	305,363		$	(137,464	)	$	603,173

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS

DECEMBER 31, 2012
(in thousands)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	1,574		$	8,450		$	—		$	10,024
Accounts receivable, less allowance for doubtful accounts	—			39,743			34,133			—			73,876
Inventories, net	—			62,986			26,308			—			89,294
Income taxes receivable	—			388			1,139			—			1,527
Deferred income taxes	—			793			114			—			907
Other current assets	—			3,358			1,431			—			4,789
Total current assets	—			108,842			71,575			—			180,417
Property, plant and equipment, net	—			69,241			71,967			—			141,208
Amounts due from affiliates	—			218,957			30,651			(249,608		)	—
Goodwill	—			81,310			118,065			—			199,375
Customer relationships, net	—			33,620			20,969			—			54,589
Other intangible assets, net	—			7,475			—			—			7,475
Investment in consolidated subsidiaries	(81,316		)	18,549			—			62,767			—
Deferred income taxes	—			—			68			—			68
Other assets	—			6,225			5,065			—			11,290
Total assets	$	(81,316	)	$	544,219		$	318,360		$	(186,841	)	$	594,422
LIABILITIES AND SHAREHOLDERS' (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	—		$	34,921		$	20,962		$	—		$	55,883
Accrued expenses and other current liabilities	10			17,582			13,075			—			30,667
Accrued interest payable	—			9,017			—			—			9,017
Deferred income taxes	—			—			847			—			847
Total current liabilities	10			61,520			34,884			—			96,414
Long-term debt	—			516,674			—			—			516,674
Amounts due to affiliates	4,666			15,844			229,098			(249,608		)	—
Deferred income taxes	—			8,621			11,798			—			20,419
Other liabilities	—			22,876			24,031			—			46,907
Total liabilities	4,676			625,535			299,811			(249,608		)	680,414
Shareholders’ (deficit) equity:
Common stock	189			—			21			(21		)	189
Additional paid-in capital	721,869			658,970			199,452			(858,422		)	721,869
Accumulated loss	(818,855		)	(751,091		)	(195,851		)	946,942			(818,855		)
Accumulated other comprehensive income	10,805			10,805			14,927			(25,732		)	10,805
Total shareholders’ (deficit) equity	(85,992		)	(81,316		)	18,549			62,767			(85,992		)
Total liabilities and shareholders’ (deficit) equity	$	(81,316	)	$	544,219		$	318,360		$	(186,841	)	$	594,422

Schedule of Condensed Income Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 29, 2013
(in thousands)

(unaudited)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	105,314		$	68,723		$	(1,492	)	$	172,545
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			93,064			57,598			(1,492		)	149,170
Selling and general (excluding depreciation and amortization)	93			13,061			6,286			—			19,440
Depreciation and amortization	—			5,575			3,018			—			8,593
Other operating charges	—			418			2,356			—			2,774
Loss from operations	(93		)	(6,804		)	(535		)	—			(7,432		)
Equity in earnings of subsidiaries	(28,023		)	(4,891		)	—			32,914			—
Interest expense	—			(13,349		)	(249		)	—			(13,598		)
Intercompany income (loss), net	—			4,278			(4,278		)	—			—
Other loss, net	—			(5,951		)	(394		)	—			(6,345		)
Loss before income taxes	(28,116		)	(26,717		)	(5,456		)	32,914			(27,375		)
Provision (benefit) for income taxes	—			1,306			(565		)	—			741
Net loss	$	(28,116	)	$	(28,023	)	$	(4,891	)	$	32,914		$	(28,116	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS ENDED MARCH 30, 2012
(in thousands)

(unaudited)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net sales	$	—		$	122,442		$	77,731		$	(1,490	)	$	198,683
Costs and expenses:
Cost of goods sold (excluding depreciation and amortization)	—			103,647			64,408			(1,490		)	166,565
Selling and general (excluding depreciation and amortization)	149			14,918			7,814			—			22,881
Depreciation and amortization	—			5,552			3,129			—			8,681
Other operating charges	—			281			561			—			842
(Loss) income from operations	(149		)	(1,956		)	1,819			—			(286		)
Equity in earnings of subsidiaries	(7,971		)	(2,989		)	—			10,960			—
Interest expense	—			(13,310		)	(226		)	—			(13,536		)
Intercompany income (loss), net	—			4,373			(4,373		)	—			—
Other income (loss), net	—			6,337			(293		)	—			6,044
Loss before income taxes	(8,120		)	(7,545		)	(3,073		)	10,960			(7,778		)
Provision (benefit) for income taxes	—			426			(84		)	—			342
Net loss	$	(8,120	)	$	(7,971	)	$	(2,989	)	$	10,960		$	(8,120	)

Schedule Of Condensed Statement Of Comprehensive Income (Loss)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 29, 2013
(in thousands)

(unaudited)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(28,116	)	$	(28,023	)	$	(4,891	)	$	32,914		$	(28,116	)
Other comprehensive income (loss):
Foreign currency translation adjustment	(185		)	(185		)	(185		)	370			(185		)
Defined benefit pension plan adjustments, net of tax	84			84			11			(95		)	84
Total comprehensive loss	$	(28,217	)	$	(28,124	)	$	(5,065	)	$	33,189		$	(28,217	)

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 30, 2012

(in thousands)

(unaudited)



	Parent			Issuer			Non-Guarantor			Eliminations			Total
Net loss	$	(8,120	)	$	(7,971	)	$	(2,989	)	$	10,960		$	(8,120	)
Other comprehensive income:
Foreign currency translation adjustment	963			963			785			(1,748		)	963
Defined benefit pension plan adjustments, net of tax	85			85			23			(108		)	85
Total comprehensive loss	$	(7,072	)	$	(6,923	)	$	(2,181	)	$	9,104		$	(7,072	)

Schedule of Condensed Cash Flow Statement

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 29, 2013
(in thousands)

(unaudited)



	Parent		Issuer			Non-Guarantor			Eliminations		Total
Net cash used in operating activities	$	—	$	(15,183	)	$	(8,145	)	$	—	$	(23,328	)
Cash flows from investing activities:
Proceeds from sale of assets	—		116			—			—		116
Capital expenditures	—		(1,263		)	(963		)	—		(2,226		)
Net cash used in investing activities	—		(1,147		)	(963		)	—		(2,110		)
Cash flows from financing activities:
Net borrowings on Dutch Revolving Credit Facility	—		—			11,510			—		11,510
Net borrowings on ABL Credit Facility	—		7,802			—			—		7,802
Debt issuance costs	—		(175		)	—			—		(175		)
Due from (to) affiliates	—		8,845			(8,845		)	—		—
Net cash provided by financing activities	—		16,472			2,665			—		19,137
Effect of exchange rate changes on cash	—		—			464			—		464
Net (decrease) increase in cash and cash equivalents	—		142			(5,979		)	—		(5,837		)
Cash and cash equivalents at beginning of period	—		1,574			8,450			—		10,024
Cash and cash equivalents at end of period	$	—	$	1,716		$	2,471		$	—	$	4,187

EURAMAX HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 30, 2012
(in thousands)

(unaudited)



	Parent		Issuer			Non-Guarantor			Eliminations		Total
Net cash (used in) provided by operating activities	$	—	$	5,036		$	(5,702	)	$	—	$	(666	)
Cash flows from investing activities:
Proceeds from sale of assets	—		1,167			2			—		1,169
Capital expenditures	—		(580		)	(846		)	—		(1,426		)
Net cash (used in) provided by investing activities	—		587			(844		)	—		(257		)
Cash flows from financing activities:
Net repayments on ABL Credit Facility	—		(206		)	—			—		(206		)
Debt issuance costs	—		—			(46		)	—		(46		)
Due (to) from affiliates	—		(4,332		)	4,332			—		—
Net cash (used in) provided by financing activities	—		(4,538		)	4,286			—		(252		)
Effect of exchange rate changes on cash	—		—			36			—		36
Net (decrease) increase in cash and cash equivalents	—		1,085			(2,224		)	—		(1,139		)
Cash and cash equivalents at beginning of period	—		962			13,365			—		14,327
Cash and cash equivalents at end of period	$	—	$	2,047		$	11,141		$	—	$	13,188