Reorganization Under Chapter 11 of the Bankruptcy Code and Fresh-Start Accounting (Tables)

12 Months Ended

Dec. 31, 2012

Represents the adjustment of assets and liabilities to fair value

Fresh-start accounting results in a new basis of accounting and reflects the allocation of the Company’s fair value to its underlying assets and liabilities. Significant adjustments are summarized below:

Elimination of Predecessor’s goodwill	$	(87,728	)
Successor’s goodwill		136,666
Elimination of Predecessor’s intangible assets		(10,294	)
Successor’s intangible asset adjustment (a)		155,005
Defined benefit plans adjustment (b)		(30,680	)
Inventory adjustment (c)		8,136
Property, plant and equipment adjustment (d)		40,665
Investments in non-consolidated affiliates adjustment (e)		9,021
Noncontrolling interest adjustments (e)		(2,182	)
Elimination of Predecessor’s accumulated other comprehensive loss and other adjustments		(78,678	)
Pretax income on fresh-start accounting adjustments		139,931
Tax related to fresh-start accounting adjustments (f)		(24,580	)
Net gain on fresh-start accounting adjustments	$	115,351

Reorganization items and fresh-start accounting adjustments, net for the Predecessor period

A summary of reorganization items and fresh-start accounting adjustments, net for the Predecessor period, is shown below:

Pretax reorganization items:
Professional and other fees	$	48,701
Gain on prepetition settlement		(49,980	)
Gain on settlement of liabilities subject to compromise		(162,243	)
		(163,522	)
Pretax fresh-start accounting adjustments		(139,931	)
Reorganization items and fresh-start accounting adjustments, net	$	(303,453	)