Guarantor and Non-Guarantor Subsidiaries (Tables)

3 Months Ended

Mar. 31, 2014

Guarantor Condensed Financial Statements [Abstract]

Condensed Consolidating Statement of Comprehensive Income

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2013

	Parent		Issuer			Guarantors		Non-Guarantors			Eliminations			Consolidated Totals
	(dollar amounts in millions)
Sales	$	—	$	145.2		$	165.7	$	486.3		$	(49.6	)	$	747.6
Cost of products sold	—		120.5			133.2		423.2			(49.6		)	627.3
Selling, administration, & engineering expenses	—		34.8			3.1		37.2			—			75.1
Amortization of intangibles	—		2.9			—		1.0			—			3.9
Restructuring	—		1.6			0.1		3.0			—			4.7
Operating profit (loss)	—		(14.6		)	29.3		21.9			—			36.6
Interest expense, net of interest income	—		(8.3		)	—		(2.9		)	—			(11.2		)
Equity earnings	—		1.0			0.9		0.8			—			2.7
Other income (expense), net	—		7.5			0.1		(7.9		)	—			(0.3		)
Income (loss) before income taxes	—		(14.4		)	30.3		11.9			—			27.8
Income tax expense (benefit)	—		(2.7		)	5.5		5.1			—			7.9
Income (loss) before equity in income of subsidiaries	—		(11.7		)	24.8		6.8			—			19.9
Equity in net income of subsidiaries	20.7		32.4			—		—			(53.1		)	—
Net income	20.7		20.7			24.8		6.8			(53.1		)	19.9
Net loss attributable to noncontrolling interests	—		—			—		0.8			—			0.8
Net income attributable to Cooper-Standard Holdings Inc.	$	20.7	$	20.7		$	24.8	$	7.6		$	(53.1	)	$	20.7
Comprehensive income	$	12.9	$	12.9		$	24.8	$	1.4		$	(40.1	)	$	11.9
Add: Comprehensive loss attributable to noncontrolling interests	—		—			—		1.0			—			1.0
Comprehensive income attributable to Cooper-Standard Holdings Inc.	$	12.9	$	12.9		$	24.8	$	2.4		$	(40.1	)	$	12.9

CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2014

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations			Consolidated Totals
	(dollar amounts in millions)
Sales	$	—		$	155.3		$	175.1		$	557.5		$	(50.3	)	$	837.6
Cost of products sold	—			133.3			137.8			482.5			(50.3		)	703.3
Selling, administration, & engineering expenses	—			36.8			(0.2		)	43.0			—			79.6
Amortization of intangibles	—			2.9			—			1.5			—			4.4
Restructuring	—			—			0.1			3.0			—			3.1
Operating profit (loss)	—			(17.7		)	37.4			27.5			—			47.2
Interest expense, net of interest income	(4.0		)	(7.2		)	—			(3.8		)	—			(15.0		)
Equity earnings	—			0.3			—			0.9			—			1.2
Other income (expense), net	—			6.9			0.1			(7.0		)	—			—
Income (loss) before income taxes	(4.0		)	(17.7		)	37.5			17.6			—			33.4
Income tax expense (benefit)	(1.7		)	(7.0		)	15.8			5.0			—			12.1
Income (loss) before equity in income of subsidiaries	(2.3		)	(10.7		)	21.7			12.6			—			21.3
Equity in net income of subsidiaries	22.0			32.7			—			—			(54.7		)	—
Net income	19.7			22.0			21.7			12.6			(54.7		)	21.3
Net income attributable to noncontrolling interest	—			—			—			(1.6		)	—			(1.6		)
Net income attributable to Cooper-Standard Holdings Inc.	$	19.7		$	22.0		$	21.7		$	11.0		$	(54.7	)	$	19.7
Comprehensive income	$	18.9		$	21.2		$	21.7		$	11.4		$	(52.5	)	$	20.7
Less: Comprehensive income attributable to noncontrolling interests	—			—			—			(1.8		)	—			(1.8		)
Comprehensive income attributable to Cooper-Standard Holdings Inc.	$	18.9		$	21.2		$	21.7		$	9.6		$	(52.5	)	$	18.9

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

	Parent		Issuer		Guarantors			Non-Guarantors			Eliminations			Consolidated Totals
	(dollar amounts in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	13.1	$	83.0	$	—		$	88.3		$	—		$	184.4
Accounts receivable, net	—		55.5		70.9			239.4			—			365.8
Tooling receivable	—		27.1		15.7			113.4			—			156.2
Inventories	—		24.6		32.3			122.9			—			179.8
Prepaid expenses	—		6.2		0.6			20.1			—			26.9
Other	—		26.4		0.7			55.2			—			82.3
Total current assets	13.1		222.8		120.2			639.3			—			995.4
Investments in affiliates and intercompany accounts, net	800.5		231.8		1,191.6			(110.2		)	(2,047.2		)	66.5
Property, plant, and equipment, net	—		103.6		58.6			570.7			—			732.9
Goodwill	—		111.1		—			28.6			—			139.7
Other assets	4.8		150.1		(40.8		)	54.2			—			168.3
	$	818.4	$	819.4	$	1,329.6		$	1,182.6		$	(2,047.2	)	$	2,102.8
LIABILITIES & EQUITY
Current liabilities:
Debt payable within one year	$	—	$	—	$	—		$	28.3		$	—		$	28.3
Accounts payable	—		53.8		54.6			247.0			—			355.4
Accrued liabilities	3.7		40.8		3.7			138.3			—			186.5
Total current liabilities	3.7		94.6		58.3			413.6			—			570.2
Long-term debt	196.5		450.0		—			9.6			—			656.1
Other liabilities	—		115.3		(0.1		)	140.5			—			255.7
Total liabilities	200.2		659.9		58.2			563.7			—			1,482.0
Redeemable noncontrolling interests	—		—		—			5.2			—			5.2
Total Cooper-Standard Holdings Inc. equity	618.2		159.5		1,271.4			616.3			(2,047.2		)	618.2
Noncontrolling interests	—		—		—			(2.6		)	—			(2.6		)
Total equity	618.2		159.5		1,271.4			613.7			(2,047.2		)	615.6
Total liabilities and equity	$	818.4	$	819.4	$	1,329.6		$	1,182.6		$	(2,047.2	)	$	2,102.8

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2014

	Parent		Issuer		Guarantors			Non-Guarantors			Eliminations			Consolidated Totals
	(dollar amounts in millions)
ASSETS
Current assets:
Cash and cash equivalents	$	13.1	$	56.3	$	—		$	68.6		$	—		$	138.0
Accounts receivable, net	—		77.1		88.2			273.8			—			439.1
Tooling receivable	—		22.9		18.9			105.7			—			147.5
Inventories	—		24.2		32.5			131.9			—			188.6
Prepaid expenses	—		5.6		0.6			19.9			—			26.1
Other	—		27.0		0.6			57.6			—			85.2
Total current assets	13.1		213.1		140.8			657.5			—			1,024.5
Investments in affiliates and intercompany accounts, net	829.4		237.4		1,200.8			(126.5		)	(2,076.0		)	65.1
Property, plant, and equipment, net	—		105.5		59.3			592.5			—			757.3
Goodwill	—		111.1		—			28.2			—			139.3
Other assets	6.4		155.2		(56.7		)	56.8			—			161.7
	$	848.9	$	822.3	$	1,344.2		$	1,208.5		$	(2,076.0	)	$	2,147.9
LIABILITIES & EQUITY
Current liabilities:
Debt payable within one year	$	—	$	0.5	$	—		$	31.4		$	—		$	31.9
Accounts payable	—		46.7		47.7			232.5			—			326.9
Accrued liabilities	7.4		56.2		3.5			154.6			—			221.7
Total current liabilities	7.4		103.4		51.2			418.5			—			580.5
Long-term debt	196.7		450.0		—			14.6			—			661.3
Other liabilities	—		111.8		(0.1		)	145.2			—			256.9
Total liabilities	204.1		665.2		51.1			578.3			—			1,498.7
Redeemable noncontrolling interests	—		—		—			5.3			—			5.3
Total Cooper-Standard Holdings Inc. equity	644.8		157.1		1,293.1			625.8			(2,076.0		)	644.8
Noncontrolling interests	—		—		—			(0.9		)	—			(0.9		)
Total equity	644.8		157.1		1,293.1			624.9			(2,076.0		)	643.9
Total liabilities and equity	$	848.9	$	822.3	$	1,344.2		$	1,208.5		$	(2,076.0	)	$	2,147.9

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2013

	Parent			Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollar amounts in millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	1.7		$	(4.4	)	$	(2.4	)	$	(8.2	)	$	—	$	(13.3	)
INVESTING ACTIVITIES
Capital expenditures	—			(6.4		)	(4.1		)	(23.8		)	—		(34.3		)
Return on equity investments	—			—			2.1			—			—		2.1
Proceeds from the sale of fixed assets	—			—			—			0.2			—		0.2
Net cash used in investing activities	—			(6.4		)	(2.0		)	(23.6		)	—		(32.0		)
FINANCING ACTIVITIES
Increase in short-term debt	—			—			—			4.9			—		4.9
Principal payments on long-term debt	—			—			—			(1.8		)	—		(1.8		)
Purchase of noncontrolling interest	—			—			—			(1.9		)	—		(1.9		)
Repurchase of common stock	—			(11.1		)	—			—			—		(11.1		)
Other	(1.7		)	(2.8		)	—			2.9			—		(1.6		)
Net cash provided by (used in) financing activities	(1.7		)	(13.9		)	—			4.1			—		(11.5		)
Effects of exchange rate changes on cash and cash equivalents	—			—			—			2.9			—		2.9
Changes in cash and cash equivalents	—			(24.7		)	(4.4		)	(24.8		)	—		(53.9		)
Cash and cash equivalents at beginning of period	—			177.5			4.4			88.7			—		270.6
Cash and cash equivalents at end of period	$	—		$	152.8		$	—		$	63.9		$	—	$	216.7
Depreciation and amortization	$	—		$	7.1		$	3.4		$	19.3		$	—	$	29.8

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Three Months Ended March 31, 2014

	Parent		Issuer			Guarantors			Non-Guarantors			Eliminations		Consolidated Totals
	(dollar amounts in millions)
OPERATING ACTIVITIES
Net cash provided by (used in) operating activities	$	—	$	(18.4	)	$	3.0		$	19.3		$	—	$	3.9
INVESTING ACTIVITIES
Capital expenditures	—		(10.8		)	(4.0		)	(49.0		)	—		(63.8		)
Return on equity investments	—		—			1.0			—			—		1.0
Proceeds from the sale of fixed assets and other	—		(0.1		)	—			2.2			—		2.1
Net cash used in investing activities	—		(10.9		)	(3.0		)	(46.8		)	—		(60.7		)
FINANCING ACTIVITIES
Increase in short-term debt, net	—		—			—			2.3			—		2.3
Borrowings on long-term debt	—		—			—			4.4			—		4.4
Principal payments on long-term debt	—		—			—			(0.1		)	—		(0.1		)
Debt issuance costs	—		(0.7		)	—			—			—		(0.7		)
Proceeds from exercise of warrants	—		4.6			—			—			—		4.6
Other	—		(1.3		)	—			0.3			—		(1.0		)
Net cash provided by financing activities	—		2.6			—			6.9			—		9.5
Effects of exchange rate changes on cash and cash equivalents	—		—			—			0.9			—		0.9
Changes in cash and cash equivalents	—		(26.7		)	—			(19.7		)	—		(46.4		)
Cash and cash equivalents at beginning of period	13.1		83.0			—			88.3			—		184.4
Cash and cash equivalents at end of period	$	13.1	$	56.3		$	—		$	68.6		$	—	$	138.0
Depreciation and amortization	$	—	$	7.0		$	2.8		$	18.5		$	—	$	28.3