Restatement of consolidated financial statements (Tables)

12 Months Ended

Dec. 31, 2011

Consolidated Statement Of Operations

Consolidated Statement of Operations – year ended December 31, 2011

	Year ended December 31, 2011 As reported			Adjustments			Year ended December 31, 2011 Restated
Sales	$	1,782,602		$	(44,606	)	$	1,737,996
Excise taxes		(905,015	)		(3,415	)		(908,430	)
Net sales		877,587			(48,021	)		829,566
Cost of goods sold		538,218			(7,723	)		530,495
Gross profit		339,369			(40,298	)		299,071
Selling, general and administrative expenses		270,731			(8,556	)		262,175
Gain on remeasurement of previously held equity interests		(7,898	)		0			(7,898	)
Impairment charge		1,057,819			0			1,057,819
Operating income / (loss)		(981,283	)		(31,742	)		(1,013,025	)
Non operating income / (expense), net
Interest income / (expense), net		(111,649	)		1,491			(110,158	)
Other financial income / (expense), net		(139,952	)		883			(139,069	)
Other non operating income / (expense), net		(17,913	)		3			(17,910	)
Income / (loss) before taxes and equity in net income from unconsolidated investments		(1,250,797	)		(29,365	)		(1,280,162	)
Income tax benefit /(expense)		(32,205	)		(3,071	)		(35,276	)
Equity in net income / (losses) of affiliates		(8,814	)		868			(7,946	)
Net income / (loss)		(1,291,816	)		(31,568	)		(1,323,384	)
Net income / (loss) from operations per share of common stock, basic		(17.90	)		(0.44	)		(18.34	)
Net income / (loss) from operations per share of common stock, diluted	$	(17.90	)	$	(0.44	)	$	(18.34	)
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustment		(32,336	)		3,999			(28,337	)
Comprehensive income/(loss)	$	(1,324,152	)	$	(27,569	)	$	(1,351,721	)

Consolidated Statement of Operations for the year ended December 31, 2010

	Year ended December 31, 2010 As reported			Adjustment			Year ended December 31, 2010 Restated
Sales	$	1,573,702		$	(10,602)		$	1,563,100
Excise taxes		(862,165	)		1,196			(860,969	)
Net Sales		711,537			(9,406	)		702,131
Cost of goods sold		383,671			8,790			392,461
Gross Profit		327,866			(18,196	)		309,670
Selling, general and administrative expenses		219,609			15,803			235,412
Impairment charges		131,849			0			131,849
Operating Income / (loss)		(23,592	)		(33,999	)		(57,591	)
Non operating income / (expense), net
Interest expense, net		(104,866	)		3,541			(101,325	)
Other financial income / (expense), net		6,773			(3,749	)		3,024
Other non operating expenses, net		(13,572	)		(307	)		(13,879	)
Income/(loss) before taxes, equity in net income from unconsolidated investments		(135,257	)		(34,514	)		(169,771	)
Income tax benefit/(expense)		28,114			(1,397	)		26,717
Equity in net earnings /(losses) of affiliates		14,254			(868	)		13,386
Income / (loss) from continuing operations		(92,889	)		(36,779	)		(129,668	)
Discontinued operations
Income / (loss) from operations of distribution business		(11,815	)		3,373			(8,442	)
Income tax benefit / (expense)		37			0			37
Income / (loss) on discontinued operations		(11,778	)		3,373			(8,405	)
Net income / (loss)		(104,667	)		(33,406	)		(138,073	)
Income / (loss) from continuing operations per share of common stock, basic		(1.32	)		(0.53	)		(1.85	)
Income / (loss) from discontinued operations per share of common stock, basic		(0.17	)		0.05			(0.12	)
Net income / (loss) from operations per share of common stock, basic		(1.49	)		(0.48	)		(1.97	)
Income / (loss) from continuing operations per share of common stock, diluted		(1.32	)		(0.53	)		(1.85	)
Income / (loss) from discontinued operations per share of common stock, diluted		(0.17	)		0.05			(0.12	)
Net income / (loss) from operations per share of common stock, diluted	$	(1.49	)	$	(0.48	)	$	(1.97	)
Other comprehensive income/(loss), net of tax:
Foreign currency translation adjustment		(63,086	)		1,931			(61,155	)
Comprehensive income/(loss)	$	(167,753	)	$	(31,475	)	$	(199,228	)

Consolidated Balance Sheet

Consolidated Balance Sheet – December 31, 2011

	Balance as at December 31,  2011 As reported			Adjustments			Balance as at December 31,  2011 Restated
Current Assets
Cash and cash equivalents	$	94,410			0			94,410
Accounts receivable, net of allowance for doubtful accounts at December 31, 2011 of $23,112 as reported and $24,510 as restated		466,317			(55,451	)		410,866
Inventories		116,897			793			117,690
Prepaid expenses		16,982			(444	)		16,538
Other current assets		20,007			3,013			23,020
Deferred income taxes		8,455			(3,738	)		4,717
Debt issuance costs		2,962			0			2,962
Total Current Assets		726,030			(55,827	)		670,203
Intangible assets		463,848			0			463,848
Goodwill		666,653			3,641			670,294
Property, plant and equipment, net		179,478			(2,818	)		176,660
Deferred income taxes, net		22,295			(807	)		21,488
Debt issuance costs		13,550			0			13,550
Non-current assets held for sale		675			0			675
Total Non-Current Assets		1,346,499			16			1,346,515
Total Assets		2,072,529			(55,811	)		2,016,718
Current Liabilities
Trade accounts payable		144,801			(4	)		144,797
Bank loans and overdraft facilities		85,762			0			85,762
Income taxes payable		8,766			841			9,607
Taxes other than income taxes		188,307			1,208			189,515
Other accrued liabilities		44,501			3,707			48,208
Current portions of obligations under capital leases		1,109			0			1,109
Total Current Liabilities		473,246			5,752			478,998
Long-term obligations under capital leases		532			0			532
Long-term obligations under Convertible Senior Notes		304,645			0			304,645
Long-term obligations under Senior Secured Notes		932,764			(675	)		932,089
Long-term accruals		2,027			(27	)		2,000
Deferred income taxes		92,945			(1,817	)		91,128
Commitments and contingencies (Note 18)
Total Long-Term Liabilities		1,332,913			(2,519	)		1,330,394
Stockholders’ Equity
Common Stock ($0.01 par value, 120,000,000 shares authorized, 72,740,302 shares issued and outstanding)		727			0			727
Additional paid-in-capital		1,369,471			0			1,369,471
(Accumulated deficit) / Retained earnings		(1,131,566	)		(66,318	)		(1,197,884	)
Accumulated other comprehensive income		27,888			7,274			35,162
Less Treasury Stock at cost (246,037 shares at December 31, 2011 and December 31, 2010, respectively)		(150	)		0			(150	)
Total Stockholders’ Equity		266,370			(59,044	)		207,326
Total Liabilities and Stockholders’ Equity	$	2,072,529			(55,811	)		2,016,718

Consolidated Balance Sheet – December 31, 2010

	Balance as at December 31, 2010 As reported			Adjustments			Balance as at December 31, 2010 Restated
Current Assets
Cash and cash equivalents	$	122,324		$	(208	)	$	122,116
Accounts receivable, net of allowance for doubtful accounts of $20,357 as reported and $20,863 as restated		478,379			(45,211	)		433,168
Inventories		93,678			(1,804	)		91,874
Prepaid expenses and other current assets		35,202			(1,448	)		33,754
Deferred income taxes		80,956			0			80,956
Debt issuance cost		2,739			0			2,739
Total Current Assets		813,278			(48,671	)		764,607
Intangible assets, net		627,342			0			627,342
Goodwill, net		1,450,273			2,713			1,452,986
Property, plant and equipment, net		192,863			(2,983	)		189,880
Deferred income taxes		44,028			0			44,028
Equity method investment in affiliates		243,128			(118	)		243,010
Debt issuance costs		16,656			0			16,656
Non-current assets held for sale		8,614			0			8,614
Total Non-Current Assets		2,582,904			(388	)		2,582,516
Total Assets		3,396,182			(49,059	)		3,347,123
Current Liabilities
Trade accounts payable		114,958			(22,118	)		92,840
Bank loans and overdraft facilities		45,359			0			45,359
Income taxes payable		5,102			606			5,708
Taxes other than income taxes		182,232			111			182,343
Other accrued liabilities		55,070			2,831			57,901
Current portions of obligations under capital leases		758			0			758
Deferred consideration		5,000			0			5,000
Total Current Liabilities		408,479			(18,570	)		389,909
Long-term obligations under capital leases		1,175			0			1,175
Long-term obligations under Senior Notes		1,250,758			0			1,250,758
Long-term accruals		2,572			195			2,767
Deferred income taxes		168,527			791			169,318
Total Long Term Liabilities		1,423,032			986			1,424,018
Stockholders’ Equity
Common Stock ($0.01 par value, 120,000,000 shares authorized, 70,752,670 and 69,411,845 shares issued at December 31, 2010 and December 31, 2009, respectively)		708			0			708
Additional paid-in-capital		1,343,639			0			1,343,639
Retained earnings		160,250			(34,750	)		125,500
Accumulated other comprehensive income of continuing operations		60,224			3,275			63,499
Less Treasury Stock at cost (246,037 shares at December 31, 2010 and December 31, 2009, respectively)		(150	)		0			(150	)
Total Equity		1,564,671			(31,475	)		1,533,196
Total Liabilities and Stockholders’ Equity	$	3,396,182		$	(49,059	)	$	3,347,123

Consolidated Statements Of Cash Flow

Consolidated Statements of Cash Flow – year ended December 31, 2011

	Year ended December 31,  2011 As reported			Adjustment			Year ended December 31,  2011 Restated
Cash flows from operating activities of continuing operations
Net income / (loss)	$	(1,291,816	)		(31,568	)		(1,323,384	)
Adjustments to reconcile net income / (loss) to net cash provided by operating activities:
Depreciation and amortization		19,718			0			19,718
Deferred income taxes		35,533			1,273			36,806
Unrealized foreign exchange (gains) / losses		139,728			(883	)		138,845
Stock options fair value expense		2,605			0			2,605
Equity (income)/loss in affiliates		8,814			(868	)		7,946
Gain on fair value remeasurement of previously held equity interest		(7,898	)		0			(7,898	)
Impairment charge		1,057,819			0			1,057,819
Impairments related to assets held for sale		7,355			0			7,355
Other non cash items		4,074			271			4,345
Changes in operating assets and liabilities:
Accounts receivable		60,604			14,002			74,606
Inventories		(2,857	)		(4,556	)		(7,413	)
Prepayments and other current assets		(115	)		(2,242	)		(2,357	)
Trade accounts payable		(6,773	)		23,292			16,519
Other accrued liabilities and payables (including taxes)		2,968			1,506			4,474
Net cash provided by operating activities from continuing operations		29,759			227			29,986
Cash flows from investing activities of continuing operations
Purchase of fixed assets		(15,075	)		(19	)		(15,094	)
Proceeds from the disposal of fixed assets		511			0			511
Purchase of intangibles (licenses)		(693	)		0			(693	)
Purchase of trademarks		(17,473	)		0			(17,473	)
Acquisitions of subsidiaries, net of cash acquired		(24,124	)		0			(24,124	)
Net cash provided by / (used in) investing activities from continuing operations		(56,854	)		(19	)		(56,873	)
Cash flows from financing activities of continuing operations
Borrowings on bank loans and overdraft facility		57,512			0			57,512
Payment of bank loans, overdraft facility and other borrowings		(47,417	)		0			(47,417	)
Decrease in short term capital leases payable		(76	)		0			(76	)
Options exercised		72			0			72
Net cash provided by / (used in) financing activities from continuing operations		10,091			0			10,091
Currency effect on brought forward cash balances		(10,910	)		0			(10,910	)
Net increase / (decrease) in cash		(27,914	)		208			(27,706	)
Cash and cash equivalents at beginning of period		122,324			(208	)		122,116
Cash and cash equivalents at end of period		94,410			0			94,410
Supplemental Schedule of Non-cash Investing Activities
Common stock issued in connection with investment in subsidiaries		23,174			0			23,174
Supplemental disclosures of cash flow information
Interest paid		103,836			0			103,836
Income tax paid	$	5,139			0		$	5,139

Consolidated Statements Of Cash Flow for the year ended December 31, 2010

	Year ended December 31, 2010 As reported			Adjustment			Year ended December 31, 2010 Restated
Cash flows from operating activities of continuing operations
Net income / (loss)	$	(104,667	)	$	(33,406	)	$	(138,073	)
Adjustments to reconcile net income / (loss) to net cash provided by / (used in) operating activities:
Net (income) / loss from discontinued operations		11,778			(3,373	)		8,405
Depreciation and amortization		16,947			0			16,947
Deferred income taxes		(41,591	)		791			(40,800	)
Unrealized foreign exchange (gains) / losses		(2,911	)		0			(2,911	)
Cost of debt extinguishment		14,114			0			14,114
Stock options fair value expense		3,206			0			3,206
Dividends received		10,859			0			10,859
Equity (income)/loss in affiliates		(14,254	)		868			(13,386	)
Impairment charge		131,849			0			131,849
Other non cash items		21,970			3,373			25,343
Changes in operating assets and liabilities:
Accounts receivable		(19,812	)		45,211			25,399
Inventories		(5,828	)		1,804			(4,024	)
Prepayments and other current assets		518			1,448			1,966
Trade accounts payable		5,243			(22,117	)		(16,874	)
Other accrued liabilities and payables		(56,807	)		6,670			(50,137	)
Net cash provided by / (used in) operating activities from continuing operations		(29,386	)		1,269			(28,117	)
Cash flows from investing activities of continuing operations
Purchase of fixed assets		(6,194	)		0			(6,194	)
Purchase of trademarks		(6,000	)		0			(6,000	)
Changes in restricted cash		481,419			0			481,419
Disposal of subsidiaries		124,160			0			124,160
Acquisitions of subsidiaries, net of cash acquired		(135,964	)		7,500			(128,464	)
Net cash provided by / (used in) investing activities from continuing operations		457,421			7,500			464,921
Cash flows from financing activities of continuing operations
Borrowings on bank loans and overdraft facility		63,853			0			63,853
Payment of bank loans, overdraft facility and other borrowings		(174,251	)		0			(174,251	)
Payment of long-term borrowings		(19,098	)		0			(19,098	)
Net borrowings of Senior Secured Notes		67,561			0			67,561
Payment of Senior Secured Notes		(367,954	)		0			(367,954	)
Decrease in short term capital leases payable		0			(501	)		(501	)
Increase in short term capital leases payable		976			(976	)		0
Transactions with equity holders		7,500			(7,500	)		0
Options exercised		3,550			0			3,550
Net cash provided by / (used in) financing activities from continuing operations		(417,863	)		(8,977	)		(426,840	)
Cash flows from discontinued operations
Net cash provided by / (used in) operating activities of discontinued operations		2,806			0			2,806
Net cash (used in) investing activities of discontinued operations		(330	)		0			(330	)
Net cash provided by / (used in) financing activities of discontinued operations		100			0			100
Net cash provided by/(used in) discontinued operations		2,576			0			2,576
Adjustment to reconcile the change in cash balances of discontinued operations		(2,576	)		0			(2,576	)
Currency effect on brought forward cash balances		(14,287	)		0			(14,287	)
Net increase / (decrease) in cash		(4,115	)		(208	)		(4,323	)
Cash and cash equivalents at beginning of period		126,439			0			126,439
Cash and cash equivalents at end of period		122,324			(208	)		122,116
Supplemental Schedule of Non-cash Investing Activities
Common stock issued in connection with investment in subsidiaries		41,344			0			41,344
Supplemental disclosures of cash flow information
Interest paid		111,535			0			111,535
Income tax paid	$	29,544		$	0		$	29,544

Consolidated Statement Of Changes In Stockholders' Equity

Consolidated Statements of Changes in Stockholder’s Equity — December 31, 2011

	Balance as at December 31, 2011 as reported			Adjustments			Balance as at December 31, 2011 restated
Common Stock	$	727		$	0		$	727
Treasury Stock		(150	)		0			(150	)
Additional Paid-in Capital		1,369,471			0			1,369,471
Accumulated deficit		(1,131,566	)		(66,318	)		(1,197,884	)
Accumulated other comprehensive income		27,888			7,274			35,162
Total	$	266,370		($	59,044	)	$	207,326

Consolidated Statements of Changes in Stockholder’s Equity — December 31, 2010

	Balance as at December 31, 2010 As Reported			Adjustments			Balance as at December 31, 2010 Restated
Common Stock	$	708		$	0		$	708
Treasury Stock		(150	)		0			(150	)
Additional Paid-in Capital		1,343,639			0			1,343,639
Retained Earnings		160,250			(34,750	)		125,500
Accumulated other comprehensive income of continuing operations		60,224			3,275			63,499
Total	$	1,564,671		$	(31,475	)	$	1,533,196