Discontinued Operations and Notes Receivable from Sale of Business

3 Months Ended

Dec. 31, 2013

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations and Notes Receivable from Sale of Business

D. Discontinued Operations and Notes Receivable from Sale of Business

In January 2012, the Company sold its Supermetals Business to Global Advanced Metals Pty Ltd., an Australian company (“GAM”), for $452 million, including cash consideration of $175 million received on the closing date and notes receivable (“GAM Notes”) totaling $277 million payable at various dates through March 2014. Through December 31, 2013, Cabot received payments of $62 million under the GAM Notes that became due. The carrying value of the GAM Notes at December 31, 2013 was $215 million, which was presented as Notes receivable from sale of business on the Consolidated Balance Sheets. These Notes are secured by liens on the property and assets of the sold business and guaranteed by the GAM Corporate Group. The Notes are included in Current assets as they are due no later than March 31, 2014.