Guarantor and Non-Guarantor Subsidiaries

12 Months Ended

Dec. 31, 2012

Guarantor and Non-Guarantor Subsidiaries [Abstract]

Guarantor and Non-Guarantor Subsidiaries

23. Guarantor and Non-Guarantor Subsidiaries

In connection with the May 27, 2010 Reorganization of the Company, Cooper Standard Automotive Inc. (the “Issuer”), a wholly-owned subsidiary, issued Senior Notes with a total principal amount of $450,000. Cooper-Standard Holdings Inc. and all wholly-owned domestic subsidiaries of Cooper Standard Automotive Inc. (the “Guarantors”) unconditionally guarantee the notes. The following condensed consolidated financial data provides information regarding the financial position, results of operations, and cash flows of the Guarantors. The Guarantors account for their investments in the non-guarantor subsidiaries on the equity method. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions.

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Five Months Ended May 31, 2010

Predecessor

	Parent		Issuer			Guarantors			Non- Guarantors			Eliminations			Consolidated Totals
	(dollars in millions)
Sales	$	-	$	179.5		$	223.1		$	650.8		$	(44.3	)	$	1,009.1
Cost of products sold		-		154.2			181.7			540.6			(44.3	)		832.2
Selling, administration, & engineering expenses		-		41.9			-			50.2			-			92.1
Amortization of intangibles		-		0.2			-			0.1			-			0.3
Restructuring		-		0.1			0.1			5.7			-			5.9
Operating profit (loss)		-		(16.9	)		41.3			54.2			-			78.6
Interest expense, net of interest income		-		(32.7	)		-			(11.8	)		-			(44.5	)
Equity earnings		-		-			2.6			1.0			-			3.6
Reorganization items, net		-		160.0			(2.7	)		146.1			-			303.4
Other income (expense), net		-		4.2			0.4			(25.8	)		-			(21.2	)
Income before income taxes		-		114.6			41.6			163.7			-			319.9
Provision (benefit) for income tax expense		-		39.5			(35.2	)		35.6			-			39.9
Income before equity in income of subsidiaries		-		75.1			76.8			128.1			-			280.0
Equity in net income of subsidiaries		279.7		204.6			-			-			(484.3	)		-
Consolidated net income		279.7		279.7			76.8			128.1			(484.3	)		280.0
Net income attributable to noncontrolling interest		-		-			-			(0.3	)		-			(0.3	)
Net income attributable to Cooper-Standard Holdings Inc.	$	279.7	$	279.7		$	76.8		$	127.8		$	(484.3	)	$	279.7
Comprehensive income	$	248.7	$	248.7		$	76.8		$	96.8		$	(422.0	)	$	249.0
Add: comprehensive loss attributable to noncontrolling interests		-		-			-			(0.3	)		-			(0.3	)
Comprehensive income attributable to Cooper-Standard Holdings Inc.	$	248.7	$	248.7		$	76.8		$	96.5		$	(422.0)		$	248.7

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Seven Months Ended December 31, 2010

Successor

	Parent		Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated Totals
	(dollars in millions)
Sales	$	-	$	248.7		$	333.2	$	883.9		$	(60.8	)	$	1,405.0
Cost of products sold		-		212.5			269.8		750.9			(60.8	)		1,172.4
Selling, administration, & engineering expenses		-		79.7			9.4		70.4			-			159.5
Amortization of intangibles		-		6.5			-		2.5			-			9.0
Restructuring		-		0.2			0.2		0.1			-			0.5
Operating profit (loss)		-		(50.2	)		53.8		60.0			-			63.6
Interest expense, net of interest income		-		(21.2	)		-		(3.8	)		-			(25.0	)
Equity earnings		-		0.2			1.9		1.3			-			3.4
Other income (expense), net		-		33.2			0.4		(29.4	)		-			4.2
Income (loss) before income taxes		-		(38.0	)		56.1		28.1			-			46.2
Provision (benefit) for income tax expense		-		(5.0	)		7.3		2.8			-			5.1
Income (loss) before equity in income of subsidiaries		-		(33.0	)		48.8		25.3			-			41.1
Equity in net income of subsidiaries		40.6		73.6			-		-			(114.2	)		-
Consolidated net income		40.6		40.6			48.8		25.3			(114.2	)		41.1
Net income attributable to noncontrolling interest		-		-			-		(0.5	)		-			(0.5	)
Net income attributable to Cooper-Standard Holdings Inc.	$	40.6	$	40.6		$	48.8	$	24.8		$	(114.2	)	$	40.6
Comprehensive income	$	86.5	$	86.5		$	48.8	$	65.4		$	(200.0	)	$	87.2
Less: Comprehensive income attributable to noncontrolling interests		-		-			-		(0.7	)		-			(0.7	)
Comprehensive income attributable to Cooper-Standard Holdings Inc.	$	86.5	$	86.5		$	48.8	$	64.7		$	(200.0	)	$	86.5

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2011

Successor

	Parent		Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated Totals
	(dollars in millions)
Sales	$	-	$	498.4		$	607.5	$	1,888.2		$	(140.6	)	$	2,853.5
Cost of products sold		-		407.8			495.1		1,640.6			(140.6	)		2,402.9
Selling, administration, & engineering expenses		-		109.8			0.6		147.2			-			257.6
Amortization of intangibles		-		11.1			-		4.5			-			15.6
Restructuring		-		0.4			5.9		45.9			-			52.2
Operating profit (loss)		-		(30.7	)		105.9		50.0			-			125.2
Interest expense, net of interest income		-		(28.5	)		-		(12.0	)		-			(40.5	)
Equity earnings		-		1.2			1.0		3.2			-			5.4
Other income (expense), net		-		44.1			13.0		(49.9	)		-			7.2
Income (loss) before income taxes		-		(13.9	)		119.9		(8.7	)		-			97.3
Provision (benefit) for income tax expense		-		(0.8	)		6.1		15.5			-			20.8
Income (loss) before equity in income of subsidiaries		-		(13.1	)		113.8		(24.2	)		-			76.5
Equity in net income of subsidiaries		102.8		115.9			-		-			(218.7	)		-
Consolidated net income (loss)		102.8		102.8			113.8		(24.2	)		(218.7	)		76.5
Net loss attributable to noncontrolling interest		-		-			-		26.3			-			26.3
Net income attributable to Cooper-Standard Holdings Inc.	$	102.8	$	102.8		$	113.8	$	2.1		$	(218.7	)	$	102.8
Comprehensive income (loss)	$	44.5	$	44.5		$	113.8	$	(61.0	)	$	(126.8	)	$	15.0
Add: Comprehensive loss attributable to noncontrolling interests		-		-			-		29.5			-			29.5
Comprehensive income (loss) attributable to Cooper-Standard Holdings Inc.	$	44.5	$	44.5		$	113.8	$	(31.5	)	$	(126.8	)	$	44.5

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2012

Successor

	Parent		Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollars in millions)
Sales	$	-	$	564.4		$	629.1		$	1,871.8		$	(184.4)	$	2,880.9
Cost of products sold		-		470.0			526.6			1,629.8			(184.4)		2,442.0
Selling, administration, & engineering expenses		-		127.6			4.9			148.8			-		281.3
Amortization of intangibles		-		11.4			-			4.0			-		15.4
Impairment charges		-		-			-			10.1			-		10.1
Restructuring		-		0.3			0.4			28.1			-		28.8
Operating profit (loss)		-		(44.9	)		97.2			51.0			-		103.3
Interest expense, net of interest income		-		(33.4	)		-			(11.4	)		-		(44.8	)
Equity earnings		-		1.8			3.7			3.3			-		8.8
Other income (expense), net		-		34.5			1.4			(35.9	)		-		-
Income (loss) before income taxes		-		(42.0	)		102.3			7.0			-		67.3
Provision (benefit) for income tax expense		-		19.5			(48.1	)		(2.9	)		-		(31.5	)
Income (loss) before equity in income (loss) subsidiaries		-		(61.5	)		150.4			9.9			-		98.8
Equity in net income of subsidiaries		102.8		164.3			-			-			(267.1)		-
Consolidated net income		102.8		102.8			150.4			9.9			(267.1)		98.8
Net loss attributable to noncontrolling interest		-		-			-			4.0			-		4.0
Net income attributable to Cooper-Standard Holdings Inc.	$	102.8	$	102.8		$	150.4		$	13.9		$	(267.1)	$	102.8
Comprehensive income (loss)	$	69.8	$	69.8		$	150.4		$	(12.2	)	$	(213.2)	$	64.6
Add: Comprehensive loss attributable to noncontrolling interests		-		-			-			5.2			-		5.2
Comprehensive income (loss) attributable to Cooper-Standard Holdings Inc.	$	69.8	$	69.8		$	150.4		$	(7.0	)	$	(213.2)	$	69.8

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2011

	Parent		Issuer		Guarantors			Non-Guarantors			Eliminations			Consolidated Totals
	(dollars in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	-	$	189.6	$	-		$	172.1		$	-		$	361.7
Accounts receivable, net		-		66.8		74.8			292.3			-			433.9
Inventories, net		-		18.8		24.2			96.7			-			139.7
Prepaid expenses		-		5.2		0.4			20.7			-			26.3
Other		-		23.1		2.0			18.8			-			43.9
Total current assets		-		303.5		101.4			600.6			-			1,005.5
Investments in affiliates and intercompany accounts, net		597.9		290.9		1,050.0			(164.9	)		(1,719.5	)		54.4
Property, plant, and equipment, net		-		77.8		64.6			477.3			-			619.7
Goodwill		-		111.1		-			25.3			-			136.4
Other assets		-		97.6		(5.8	)		96.0			-			187.8
	$	597.9	$	880.9	$	1,210.2		$	1,034.3		$	(1,719.5	)	$	2,003.8
LIABILITIES & EQUITY
Current liabilities:
Debt payable within one year	$	-	$	-	$	-		$	33.1		$	-		$	33.1
Accounts payable		-		48.3		30.9			177.5			-			256.7
Accrued liabilities		-		48.9		9.0			135.3			-			193.2
Total current liabilities		-		97.2		39.9			345.9			-			483.0
Long-term debt		-		450.0		-			5.6			-			455.6
Other liabilities		-		164.1		5.9			153.8			-			323.8
Total liabilities		-		711.3		45.8			505.3			-			1,262.4
Redeemable noncontrolling interests		-		-		-			14.3			-			14.3
Preferred stock		-		125.9		-			-			-			125.9
Total Cooper-Standard Holdings Inc. equity		597.9		43.7		1,164.4			511.4			(1,719.5	)		597.9
Noncontrolling interests		-		-		-			3.3			-			3.3
Total equity		597.9		43.7		1,164.4			514.7			(1,719.5	)		601.2
Total liabilities and equity	$	597.9	$	880.9	$	1,210.2		$	1,034.3		$	(1,719.5	)	$	2,003.8

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2012

	Parent		Issuer		Guarantors			Non-Guarantors			Eliminations			Consolidated Totals
	(dollars in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	-	$	177.5	$	4.4		$	88.7		$	-		$	270.6
Accounts receivable, net		-		68.2		84.7			346.7			-			499.6
Inventories, net		-		18.8		28.5			96.0			-			143.3
Prepaid expenses		-		5.9		0.3			15.7			-			21.9
Other		-		35.5		0.6			19.1			-			55.2
Total current assets		-		305.9		118.5			566.2			-			990.6
Investments in affiliates and intercompany accounts, net		628.3		339.7		998.7			(52.9	)		(1,851.6	)		62.2
Property, plant, and equipment, net		-		88.2		56.5			483.9			-			628.6
Goodwill		-		111.1		-			22.6			-			133.7
Other assets		-		80.9		48.2			81.8			-			210.9
	$	628.3	$	925.8	$	1,221.9		$	1,101.6		$	(1,851.6	)	$	2,026.0
LIABILITIES & EQUITY
Current liabilities:
Debt payable within one year	$	-	$	-	$	-		$	32.6		$	-		$	32.6
Accounts payable		-		45.4		41.3			184.7			-			271.4
Accrued liabilities		-		59.1		5.4			118.5			-			183.0
Total current liabilities		-		104.5		46.7			335.8			-			487.0
Long-term debt		-		450.0		-			0.8			-			450.8
Other liabilities		-		167.4		(0.2	)		156.0			-			323.2
Total liabilities		-		721.9		46.5			492.6			-			1,261.0
Redeemable noncontrolling interests		-		-		-			14.2			-			14.2
Preferred stock		-		121.6		-			-			-			121.6
Total Cooper-Standard Holdings Inc. equity		628.3		82.3		1,175.4			593.9			(1,851.6	)		628.3
Noncontrolling interests		-		-		-			0.9			-			0.9
Total equity		628.3		82.3		1,175.4			594.8			(1,851.6	)		629.2
Total liabilities and equity	$	628.3	$	925.8	$	1,221.9		$	1,101.6		$	(1,851.6	)	$	2,026.0

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Five Months Ended May 31, 2010

Predecessor

	Parent		Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollars in millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	-	$	(122.8	)	$	(0.3	)	$	47.7		$	-	$	(75.4	)
INVESTING ACTIVITIES
Capital expenditures, including other intangible assets		-		(3.0	)		(4.0	)		(15.9	)		-		(22.9	)
Proceeds from the sale of fixed assets		-		-			3.6			0.2			-		3.8
Net cash used in investing activities		-		(3.0	)		(0.4	)		(15.7	)		-		(19.1	)
FINANCING ACTIVITIES
Decrease in short-term debt		-		(75.0	)		-			(102.1	)		-		(177.1	)
Principal payments on long-term debt		-		(595.5	)		-			(114.0	)		-		(709.5	)
Proceeds from issuance of stock		-		355.0			-			-			-		355.0
Debt issuance costs		-		(30.9	)		-			(0.1	)		-		(31.0	)
Proceeds from issuance of long-term debt		-		450.0			-			-			-		450.0
Net cash provided by (used in) financing activities		-		103.6			-			(216.2	)		-		(112.6	)
Effects of exchange rate changes on cash		-		(0.3	)		-			5.8			-		5.5
Changes in cash and cash equivalents		-		(22.5	)		(0.7	)		(178.4	)		-		(201.6	)
Cash and cash equivalents at beginning of period		-		91.5			0.7			288.1			-		380.3
Cash and cash equivalents at end of period	$	-	$	69.0		$	-		$	109.7		$	-	$	178.7
Depreciation and amortization	$	-	$	6.5		$	6.6		$	22.6		$	-	$	35.7

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Seven Months Ended December 31, 2010

Successor

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollars in millions)
OPERATING ACTIVITIES
Net cash provided by operating activities	$	3.2		$	65.0		$	6.3		$	96.1		$	-	$	170.6
INVESTING ACTIVITIES
Capital expenditures, including other intangible assets		-			(10.2	)		(6.3	)		(37.9	)		-		(54.4	)
Proceeds from the sale of fixed assets		-			2.3			-			0.3			-		2.6
Net cash used in investing activities		-			(7.9	)		(6.3	)		(37.6	)		-		(51.8	)
FINANCING ACTIVITIES
Increase in short-term debt		-			-			-			3.9			-		3.9
Principal payments on long-term debt		-			(0.1	)		-			(2.0	)		-		(2.1	)
Other		(3.2	)		37.0			-			(37.0	)		-		(3.2	)
Net cash provided by (used in) financing activities		(3.2	)		36.9			-			(35.1	)		-		(1.4	)
Effects of exchange rate changes on cash		-			-			-			(1.6	)		-		(1.6	)
Changes in cash and cash equivalents		-			94.0			-			21.8			-		115.8
Cash and cash equivalents at beginning of period		-			69.0			-			109.7			-		178.7
Cash and cash equivalents at end of period	$	-		$	163.0		$	-		$	131.5		$	-	$	294.5
Depreciation and amortization	$	-		$	17.1		$	10.3		$	39.3		$	-	$	66.7

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2011

Successor

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollars in millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	7.1		$	31.7		$	(2.3	)	$	135.8		$	-	$	172.3
INVESTING ACTIVITIES
Capital expenditures, including other intangible assets		-			(23.1	)		(13.4	)		(71.8	)		-		(108.3	)
Acquisition of businesses, net of cash acquired		-			-			-			28.4			-		28.4
Investment in affiliates		-			(10.5	)		-			-			-		(10.5	)
Proceeds from partial sale of joint venture		-			-			16.0			-			-		16.0
Proceeds from the sale of fixed assets		-			-			0.5			0.1			-		0.6
Net cash provided by (used in) investing activities		-			(33.6	)		3.1			(43.3	)		-		(73.8	)
FINANCING ACTIVITIES
Decrease in short-term debt		-			-			-			(5.8	)		-		(5.8	)
Principal payments on long-term debt		-			-			-			(4.0	)		-		(4.0	)
Repurchase of preferred stock		-			(7.5	)		-			-			-		(7.5	)
Other		(7.1	)		36.0			(0.8	)		(35.4	)		-		(7.3	)
Net cash provided by (used in) financing activities		(7.1	)		28.5			(0.8	)		(45.2	)		-		(24.6	)
Effects of exchange rate changes on cash		-			-			-			(6.7	)		-		(6.7	)
Changes in cash and cash equivalents		-			26.6			-			40.6			-		67.2
Cash and cash equivalents at beginning of period		-			163.0			-			131.5			-		294.5
Cash and cash equivalents at end of period	$	-		$	189.6		$	-		$	172.1		$	-	$	361.7
Depreciation and amortization	$	-		$	28.5		$	16.3		$	79.3		$	-	$	124.1

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2012

Successor

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollars in millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	6.8		$	(1.0	)	$	17.0		$	61.6		$	-	$	84.4
INVESTING ACTIVITIES
Capital expenditures, including other intangible assets		-			(28.9	)		(16.7	)		(85.5	)		-		(131.1	)
Acquisition of businesses, net of cash acquired		-						-			(1.1	)		-		(1.1	)
Proceeds from the sale of fixed assets		-			(0.1	)		4.1			10.6			-		14.6
Net cash used in investing activities		-			(29.0	)		(12.6	)		(76.0	)		-		(117.6	)
FINANCING ACTIVITIES
Decrease in short-term debt		-			-			-			(0.4	)		-		(0.4	)
Principal payments on long-term debt		-			-			-			(5.1	)		-		(5.1	)
Purchase of noncontrolling interest		-			-			-			(2.0	)		-		(2.0	)
Repurchase of preferred and common stock		-			(43.7	)		-			-			-		(43.7	)
Other		(6.8	)		61.6			-			(61.6	)		-		(6.8	)
Net cash provided by (used in) financing activities		(6.8	)		17.9			-			(69.1	)		-		(58.0	)
Effects of exchange rate changes on cash		-			-			-			0.1			-		0.1
Changes in cash and cash equivalents		-			(12.1	)		4.4			(83.4	)		-		(91.1	)
Cash and cash equivalents at beginning of period		-			189.6			-			172.1			-		361.7
Cash and cash equivalents at end of period	$	-		$	177.5		$	4.4		$	88.7		$	-	$	270.6
Depreciation and amortization	$	-		$	28.3		$	14.5		$	79.9		$	-	$	122.7