Level 3 Consolidating Guarantor and Nonguarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Consolidating Guarantor and Nonguarantor Financial Information [Abstract]

Consolidating Statements of Comprehensive Income (Loss) [Table Text Block]

Boise Cascade Company and Subsidiaries

Consolidating Statements of Comprehensive Income

For the Three Months Ended June 30, 2014

(unaudited) 

	Boise Cascade Company (Parent)			Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Sales
Trade	$	—		$	957,289	$	3,898		$	—		$	961,187
Intercompany	—			—		5,785			(5,785		)	—
	—			957,289		9,683			(5,785		)	961,187
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	—			821,453		8,481			(6,402		)	823,532
Depreciation and amortization	43			12,137		302			—			12,482
Selling and distribution expenses	—			66,587		594			—			67,181
General and administrative expenses	4,657			6,651		—			617			11,925
Other (income) expense, net	(9		)	295		(123		)	—			163
	4,691			907,123		9,254			(5,785		)	915,283
Income (loss) from operations	(4,691		)	50,166		429			—			45,904
Foreign currency exchange gain	170			29		67			—			266
Interest expense	(5,519		)	—		—			—			(5,519		)
Interest income	3			50		—			—			53
	(5,346		)	79		67			—			(5,200		)
Income (loss) before income taxes and equity in net income of affiliates	(10,037		)	50,245		496			—			40,704
Income tax (provision) benefit	(14,311		)	25		—			—			(14,286		)
Income (loss) before equity in net income of affiliates	(24,348		)	50,270		496			—			26,418
Equity in net income of affiliates	50,766			—		—			(50,766		)	—
Net income	26,418			50,270		496			(50,766		)	26,418
Other comprehensive loss, net of tax
Defined benefit pension plans
Amortization of actuarial gain	(4		)	—		—			—			(4		)
Other comprehensive loss, net of tax	(4		)	—		—			—			(4		)
Comprehensive income	$	26,414		$	50,270	$	496		$	(50,766	)	$	26,414

Boise Cascade Company and Subsidiaries

Consolidating Statements of Comprehensive Income (Loss)

For the Three Months Ended June 30, 2013

(unaudited) 

	Boise Cascade Company (Parent)			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Sales
Trade	$	—		$	848,515		$	3,780		$	—		$	852,295
Intercompany	—			—			2,920			(2,920		)	—
	—			848,515			6,700			(2,920		)	852,295
Costs and expenses
Materials, labor, and other operating expenses (excluding depreciation)	—			746,539			7,692			(3,235		)	750,996
Depreciation and amortization	33			8,429			304			—			8,766
Selling and distribution expenses	—			59,461			641			—			60,102
General and administrative expenses	4,045			5,891			—			315			10,251
Other (income) expense, net	5			261			(305		)	—			(39		)
	4,083			820,581			8,332			(2,920		)	830,076
Income (loss) from operations	(4,083		)	27,934			(1,632		)	—			22,219
Foreign currency exchange loss	(200		)	(69		)	(22		)	—			(291		)
Interest expense	(4,781		)	—			—			—			(4,781		)
Interest income	27			35			—			—			62
	(4,954		)	(34		)	(22		)	—			(5,010		)
Income (loss) before income taxes and equity in net income of affiliates	(9,037		)	27,900			(1,654		)	—			17,209
Income tax provision	(6,797		)	—			—			—			(6,797		)
Income (loss) before equity in net income of affiliates	(15,834		)	27,900			(1,654		)	—			10,412
Equity in net income of affiliates	26,246			—			—			(26,246		)	—
Net income (loss)	10,412			27,900			(1,654		)	(26,246		)	10,412
Other comprehensive income, net of tax
Defined benefit pension plans
Amortization of actuarial loss	1,411			—			—			—			1,411
Amortization of prior service costs	14			—			—			—			14
Other comprehensive income, net of tax	1,425			—			—			—			1,425
Comprehensive income (loss)	$	11,837		$	27,900		$	(1,654	)	$	(26,246	)	$	11,837

Boise Cascade Company and Subsidiaries

Consolidating Statements of Comprehensive Income

For the Six Months Ended June 30, 2014

(unaudited) 

	Boise Cascade Company (Parent)			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Sales
Trade	$	—		$	1,721,359		$	7,008		$	—		$	1,728,367
Intercompany	—			—			8,350			(8,350		)	—
	—			1,721,359			15,358			(8,350		)	1,728,367
Costs and expenses
Materials, labor, and other operating expenses, (excluding depreciation)	—			1,491,203			13,879			(8,942		)	1,496,140
Depreciation and amortization	77			24,116			609			—			24,802
Selling and distribution expenses	—			124,862			1,249			—			126,111
General and administrative expenses	8,932			13,066			—			592			22,590
Other (income) expense, net	—			(1,335		)	(402		)	—			(1,737		)
	9,009			1,651,912			15,335			(8,350		)	1,667,906
Income (loss) from operations	(9,009		)	69,447			23			—			60,461
Foreign currency exchange gain	108			38			31			—			177
Interest expense	(11,031		)	—			—			—			(11,031		)
Interest income	8			115			—			—			123
	(10,915		)	153			31			—			(10,731		)
Income (loss) before income taxes and equity in net income of affiliates	(19,924		)	69,600			54			—			49,730
Income tax (provision) benefit	(17,790		)	43			—			—			(17,747		)
Income (loss) before equity in net income of affiliates	(37,714		)	69,643			54			—			31,983
Equity in net income of affiliates	69,697			—			—			(69,697		)	—
Net income	31,983			69,643			54			(69,697		)	31,983
Other comprehensive loss, net of tax
Defined benefit pension plans
Amortization of actuarial gain	(8		)	—			—			—			(8		)
Other comprehensive loss, net of tax	(8		)	—			—			—			(8		)
Comprehensive income	$	31,975		$	69,643		$	54		$	(69,697	)	$	31,975

Boise Cascade Company and Subsidiaries

Consolidating Statements of Comprehensive Income (Loss)

For the Six Months Ended June 30, 2013

(unaudited) 

	Boise Cascade Company (Parent)			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Sales
Trade	$	—		$	1,590,898		$	6,275		$	—		$	1,597,173
Intercompany	—			—			5,558			(5,558		)	—
	—			1,590,898			11,833			(5,558		)	1,597,173
Costs and expenses
Materials, labor, and other operating expenses, (excluding depreciation)	—			1,388,126			13,662			(5,945		)	1,395,843
Depreciation and amortization	79			16,553			611			—			17,243
Selling and distribution expenses	—			115,833			1,273			—			117,106
General and administrative expenses	8,148			11,762			—			387			20,297
Other (income) expense, net	7			487			(667		)	—			(173		)
	8,234			1,532,761			14,879			(5,558		)	1,550,316
Income (loss) from operations	(8,234		)	58,137			(3,046		)	—			46,857
Foreign currency exchange loss	(230		)	(113		)	(28		)	—			(371		)
Interest expense	(9,672		)	—			—			—			(9,672		)
Interest income	55			69			—			—			124
	(9,847		)	(44		)	(28		)	—			(9,919		)
Income (loss) before income taxes and equity in net income of affiliates	(18,081		)	58,093			(3,074		)	—			36,938
Income tax benefit	54,310			—			—			—			54,310
Income (loss) before equity in net income of affiliates	36,229			58,093			(3,074		)	—			91,248
Equity in net income of affiliates	55,019			—			—			(55,019		)	—
Net income (loss)	91,248			58,093			(3,074		)	(55,019		)	91,248
Other comprehensive income, net of tax
Defined benefit pension plans
Amortization of actuarial loss	2,806			—			—			—			2,806
Amortization of prior service costs	28			—			—			—			28
Other comprehensive income, net of tax	2,834			—			—			—			2,834
Comprehensive income (loss)	$	94,082		$	58,093		$	(3,074	)	$	(55,019	)	$	94,082

Consolidating Balance Sheets [Table Text Block]

Boise Cascade Company and Subsidiaries Consolidating Balance Sheets at June 30, 2014 (unaudited)
	Boise Cascade Company (Parent)		Guarantor Subsidiaries		Non- guarantor Subsidiaries		Eliminations			Consolidated
	(thousands)
ASSETS
Current
Cash and cash equivalents	$	129,883	$	23	$	13	$	—		$	129,919
Receivables
Trade, less allowances	116		217,253		1,571		—			218,940
Related parties	—		714		—		—			714
Other	11		6,101		261		—			6,373
Inventories	—		405,585		4,980		—			410,565
Deferred income taxes	18,020		—		8		—			18,028
Prepaid expenses and other	3,334		5,271		122		—			8,727
	151,364		634,947		6,955		—			793,266
Property and equipment, net	1,413		346,402		7,543		—			355,358
Timber deposits	—		6,386		—		—			6,386
Deferred financing costs	7,753		—		—		—			7,753
Goodwill	—		21,823		—		—			21,823
Intangible assets, net	—		10,230		—		—			10,230
Deferred income taxes	—		—		—		—			—
Other assets	36		8,713		—		—			8,749
Investments in affiliates	770,191		—		—		(770,191		)	—
Total assets	$	930,757	$	1,028,501	$	14,498	$	(770,191	)	$	1,203,565

Boise Cascade Company and Subsidiaries Consolidating Balance Sheets at June 30, 2014 (continued) (unaudited)
	Boise Cascade Company (Parent)			Guarantor Subsidiaries		Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$	2,716		$	200,839	$	769		$	—		$	204,324
Related parties	—			2,378		—			—			2,378
Accrued liabilities	—			—		—			—
Compensation and benefits	21,365			30,877		346			—			52,588
Income taxes payable	9,257			1		(9		)	—			9,249
Interest payable	3,297			—		—			—			3,297
Other	1,891			31,749		1,194			—			34,834
	38,526			265,844		2,300			—			306,670
Debt
Long-term debt	301,516			—		—			—			301,516
Other
Compensation and benefits	91,606			—		—			—			91,606
Other long-term liabilities	12,300			4,664		—			—			16,964
	103,906			4,664		—			—			108,570
Commitments and contingent liabilities
Stockholders' equity
Preferred stock	—			—		—			—			—
Common stock	433			—		—			—			433
Treasury stock	(100,000		)	—		—			—			(100,000		)
Additional paid-in capital	498,945			—		—			—			498,945
Accumulated other comprehensive loss	(55,257		)	—		—			—			(55,257		)
Retained earnings	142,688			—		—			—			142,688
Subsidiary equity	—			757,993		12,198			(770,191		)	—
Total stockholders' equity	486,809			757,993		12,198			(770,191		)	486,809
Total liabilities and stockholders' equity	$	930,757		$	1,028,501	$	14,498		$	(770,191	)	$	1,203,565

Boise Cascade Company and Subsidiaries Consolidating Balance Sheets at December 31, 2013
	Boise Cascade Company (Parent)			Guarantor Subsidiaries		Non- guarantor Subsidiaries		Eliminations			Consolidated
	(thousands)
ASSETS
Current
Cash and cash equivalents	$	118,198		$	25	$	26	$	—		$	118,249
Receivables
Trade, less allowances	13			151,225		1,002		—			152,240
Related parties	17			566		—		—			583
Other	(30		)	7,115		183		—			7,268
Inventories	(101		)	379,012		4,448		—			383,359
Deferred income taxes	18,143			—		8		—			18,151
Prepaid expenses and other	2,819			4,983		53		—			7,855
	139,059			542,926		5,720		—			687,705
Property and equipment, net	1,113			351,838		8,034		—			360,985
Timber deposits	—			6,266		—		—			6,266
Deferred financing costs	8,334			—		—		—			8,334
Goodwill	—			21,823		—		—			21,823
Intangible assets, net	—			10,277		—		—			10,277
Deferred income taxes	760			—		—		—			760
Other assets	36			8,000		—		—			8,036
Investments in affiliates	739,420			—		—		(739,420		)	—
Total assets	$	888,722		$	941,130	$	13,754	$	(739,420	)	$	1,104,186

Boise Cascade Company and Subsidiaries Consolidating Balance Sheets at December 31, 2013  (continued)
	Boise Cascade Company (Parent)			Guarantor Subsidiaries		Non- guarantor Subsidiaries		Eliminations			Consolidated
	(thousands)
LIABILITIES AND STOCKHOLDERS' EQUITY
Current
Accounts payable
Trade	$	5,396		$	133,724	$	516	$	—		$	139,636
Related parties	402			2,082		—		—			2,484
Accrued liabilities
Compensation and benefits	17,262			42,784		481		—			60,527
Income taxes payable	163			1		2		—			166
Interest payable	3,294			—		—		—			3,294
Other	1,258			30,340		1,312		—			32,910
	27,775			208,931		2,311		—			239,017
Debt
Long-term debt	301,613			—		—		—			301,613
Other
Compensation and benefits	96,536			—		—		—			96,536
Other long-term liabilities	10,317			4,222		—		—			14,539
	106,853			4,222		—		—			111,075
Commitments and contingent liabilities
Stockholders' equity
Preferred stock	—			—		—		—			—
Common stock	432			—		—		—			432
Treasury stock	(100,000		)	—		—		—			(100,000		)
Additional paid-in capital	496,593			—		—		—			496,593
Accumulated other comprehensive loss	(55,249		)	—		—		—			(55,249		)
Retained earnings	110,705			—		—		—			110,705
Subsidiary equity	—			727,977		11,443		(739,420		)	—
Total stockholders' equity	452,481			727,977		11,443		(739,420		)	452,481
Total liabilities and stockholders' equity	$	888,722		$	941,130	$	13,754	$	(739,420	)	$	1,104,186

Consolidating Statements of Cash Flows [Table Text Block]

Boise Cascade Company and Subsidiaries Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2014 (unaudited)
	Boise Cascade Company (Parent)			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Cash provided by (used for) operations
Net income	$	31,983		$	69,643		$	54		$	(69,697	)	$	31,983
Items in net income not using (providing) cash
Equity in net income of affiliates	(69,697		)	—			—			69,697			—
Depreciation and amortization, including deferred financing costs and other	892			24,116			608			—			25,616
Stock-based compensation	2,310			—			—			—			2,310
Pension expense	357			—			—			—			357
Deferred income taxes	2,721			—			—			—			2,721
Other	—			(1,729		)	—			—			(1,729		)
Decrease (increase) in working capital
Receivables	(144		)	(65,162		)	(647		)	—			(65,953		)
Inventories	(101		)	(26,573		)	(532		)	—			(27,206		)
Prepaid expenses and other	(468		)	(2,887		)	(69		)	—			(3,424		)
Accounts payable and accrued liabilities	(1,730		)	60,124			(1		)	—			58,393
Pension contributions	(780		)	—			—			—			(780		)
Income taxes payable	11,003			—			(10		)	—			10,993
Other	(2,907		)	(1,049		)	—			—			(3,956		)
Net cash provided by (used for) operations	(26,561		)	56,483			(597		)	—			29,325
Cash provided by (used for) investment
Expenditures for property and equipment	(327		)	(21,535		)	(109		)	—			(21,971		)
Proceeds from sales of assets	—			4,637			—			—			4,637
Other	—			40			(8		)	—			32
Net cash used for investment	(327		)	(16,858		)	(117		)	—			(17,302		)
Cash provided by (used for) financing
Issuances of long-term debt, including revolving credit facility	57,600			—			—			—			57,600
Payments of long-term debt, including revolving credit facility	(57,600		)	—			—			—			(57,600		)
Financing costs	(11		)	—			—			—			(11		)
Other	(342		)	—			—			—			(342		)
Due to (from) affiliates	38,926			(39,627		)	701			—			—
Net cash provided by (used for) financing	38,573			(39,627		)	701			—			(353		)
Net increase (decrease) in cash and cash equivalents	11,685			(2		)	(13		)	—			11,670
Balance at beginning of the period	118,198			25			26			—			118,249
Balance at end of the period	$	129,883		$	23		$	13		$	—		$	129,919

Boise Cascade Company and Subsidiaries Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2013 (unaudited)
	Boise Cascade Company (Parent)			Guarantor Subsidiaries			Non- guarantor Subsidiaries			Eliminations			Consolidated
	(thousands)
Cash provided by (used for) operations
Net income (loss)	$	91,248		$	58,093		$	(3,074	)	$	(55,019	)	$	91,248
Items in net income (loss) not using (providing) cash
Equity in net income of affiliates	(55,019		)	—			—			55,019			—
Depreciation and amortization, including deferred financing costs and other	967			16,553			611			—			18,131
Stock-based compensation	1,073			—			—			—			1,073
Pension expense	5,434			—			—			—			5,434
Deferred income taxes	(66,314		)	—			—			—			(66,314		)
Other	—			(277		)	—			—			(277		)
Decrease (increase) in working capital
Receivables	253			(71,768		)	28			—			(71,487		)
Inventories	—			(41,570		)	(974		)	—			(42,544		)
Prepaid expenses and other	49			(2,474		)	(98		)	—			(2,523		)
Accounts payable and accrued liabilities	(3,104		)	40,101			(336		)	—			36,661
Pension contributions	(9,970		)	—			—			—			(9,970		)
Income taxes payable	(877		)	1			(5		)	—			(881		)
Other	(3,397		)	(1,148		)	(1		)	—			(4,546		)
Net cash used for operations	(39,657		)	(2,489		)	(3,849		)	—			(45,995		)
Cash provided by (used for) investment
Expenditures for property and equipment	—			(13,932		)	(110		)	—			(14,042		)
Proceeds from sales of assets	—			129			417			—			546
Other	1			(3		)	12			—			10
Net cash provided by (used for) investment	1			(13,806		)	319			—			(13,486		)
Cash provided by (used for) financing
Net proceeds from issuance of common stock	262,599			—			—			—			262,599
Issuances of long-term debt, including revolving credit facility	55,000			—			—			—			55,000
Payments of long-term debt, including revolving credit facility	(80,000		)	—			—			—			(80,000		)
Financing costs	(321		)	—			—			—			(321		)
Other	—			—			191			—			191
Due to (from) affiliates	(19,469		)	16,296			3,173			—			—
Net cash provided by financing	217,809			16,296			3,364			—			237,469
Net increase (decrease) in cash and cash equivalents	178,153			1			(166		)	—			177,988
Balance at beginning of the period	45,680			35			178			—			45,893
Balance at end of the period	$	223,833		$	36		$	12		$	—		$	223,881