Guarantor Finanical Information

9 Months Ended

Sep. 30, 2014

Guarantees [Abstract]

Consolidating Financial Information

Guarantor Financial Information

The accompanying condensed consolidating financial information has been prepared and presented pursuant to Rule 3-10 of SEC Regulation S-X “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” The condensed consolidating financial information presents A. M. Castle & Co. (Parent) and subsidiaries. The condensed consolidating financial information has been prepared on the same basis as the consolidated statements of the Parent. The equity method of accounting is followed within this financial information.

Condensed Consolidating Balance Sheet As of September 30, 2014
	Parent			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	2,995		$	—	$	8,810	$	—		$	11,805
Accounts receivable, less allowance for doubtful accounts	77,168			20,783		50,275		—			148,226
Receivables from affiliates	1,419			—		—		(1,419		)	—
Inventories	157,256			18,946		76,563		(68		)	252,697
Prepaid expenses and other current assets	6,270			1,025		8,952		(202		)	16,045
Total current assets	245,108			40,754		144,600		(1,689		)	428,773
Investment in joint venture	46,247			—		—		—			46,247
Goodwill	—			12,973		—		—			12,973
Intangible assets, net	45,230			—		14,732		—			59,962
Other assets	30,710			—		4,359		—			35,069
Investment in subsidiaries	94,793			—		—		(94,793		)	—
Receivables from affiliates	99,259			38,639		1,425		(139,323		)	—
Property, plant and equipment, net	47,010			12,016		14,092		—			73,118
Total assets	$	608,357		$	104,382	$	179,208	$	(235,805	)	$	656,142
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	81,016		$	10,904	$	19,192	$	—		$	111,112
Payables due to affiliates	884			—		535		(1,419		)	—
Other current liabilities	30,944			133		8,004		—			39,081
Current portion of long-term debt	686			—		48		—			734
Total current liabilities	113,530			11,037		27,779		(1,419		)	150,927
Long-term debt, less current portion	274,075			—		2,065		—			276,140
Payables due to affiliates	—			7,313		132,010		(139,323		)	—
Deferred income taxes	(3,928		)	6,952		1,190		—			4,214
Other non-current liabilities	10,230			—		181		—			10,411
Stockholders’ equity	214,450			79,080		15,983		(95,063		)	214,450
Total liabilities and stockholders’ equity	$	608,357		$	104,382	$	179,208	$	(235,805	)	$	656,142

Condensed Consolidating Balance Sheet As of December 31, 2013
	Parent		Guarantors		Non-Guarantors			Eliminations			Consolidated
Assets
Current assets
Cash and cash equivalents	$	8,675	$	495	$	21,659		$	—		$	30,829
Accounts receivable, less allowance for doubtful accounts	67,536		18,305		42,703			—			128,544
Receivables from affiliates	2,811		—		—			(2,811		)	—
Inventories	133,139		16,357		65,472			(68		)	214,900
Prepaid expenses and other current assets	8,383		2,244		5,993			(202		)	16,418
Total current assets	220,544		37,401		135,827			(3,081		)	390,691
Investment in joint venture	41,879		—		—			—			41,879
Goodwill	41,504		12,973		14,812			—			69,289
Intangible assets, net	52,703		—		16,786			—			69,489
Other assets	28,145		—		3,635			—			31,780
Investment in subsidiaries	119,075		—		—			(119,075		)	—
Receivables from affiliates	87,247		34,637		1,465			(123,349		)	—
Property, plant and equipment, net	50,812		12,855		13,027			—			76,694
Total assets	$	641,909	$	97,866	$	185,552		$	(245,505	)	$	679,822
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$	41,233	$	8,274	$	20,070		$	—		$	69,577
Payables due to affiliates	2,270		—		541			(2,811		)	—
Other current liabilities	22,801		944		7,622			—			31,367
Current portion of long-term debt	371		—		26			—			397
Total current liabilities	66,675		9,218		28,259			(2,811		)	101,341
Long-term debt, less current portion	245,561		—		38			—			245,599
Payables due to affiliates	—		6,579		116,770			(123,349		)	—
Deferred income taxes	7,823		7,061		(4,151		)	—			10,733
Other non-current liabilities	11,956		—		299			—			12,255
Stockholders’ equity	309,894		75,008		44,337			(119,345		)	309,894
Total liabilities and stockholders’ equity	$	641,909	$	97,866	$	185,552		$	(245,505	)	$	679,822

Condensed Consolidating Statement of Operations and Comprehensive Loss For the Three Months Ended September 30, 2014
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net Sales	$	151,998		$	34,787		$	60,847		$	(2,163	)	$	245,469
Costs, expenses and (gains):
Cost of materials (exclusive of depreciation and amortization)	113,127			24,660			48,793			(2,163		)	184,417
Warehouse, processing and delivery expense	24,374			2,934			7,132			—			34,440
Sales, general and administrative expense	16,241			4,592			4,352			—			25,185
Restructuring activity	(5,197		)	—			50			—			(5,147		)
Depreciation and amortization expense	4,819			539			1,041			—			6,399
Impairment of goodwill	—			—			—			—			—
Operating income (loss)	(1,366		)	2,062			(521		)	—			175
Interest expense, net	(6,388		)	—			(3,760		)	—			(10,148		)
Other expense	—			—			(2,335		)	—			(2,335		)
(Loss) income before income taxes and equity in earnings of subsidiaries and joint venture	(7,754		)	2,062			(6,616		)	—			(12,308		)
Income taxes	2,724			(784		)	830			—			2,770
Equity in (losses) earnings of subsidiaries	(4,508		)	—			—			4,508			—
Equity in earnings of joint venture	2,213			—			—			—			2,213
Net (loss) income	$	(7,325	)	$	1,278		$	(5,786	)	$	4,508		$	(7,325	)
Comprehensive (loss) income	$	(9,135	)	$	1,278		$	(7,850	)	$	6,572		$	(9,135	)

Condensed Consolidating Statement of Operations and Comprehensive Loss For the Three Months Ended September 30, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net Sales	$	168,591		$	33,708		$	57,949		$	(6,535	)	$	253,713
Costs and expenses:
Cost of materials (exclusive of depreciation and amortization)	123,589			24,071			45,633			(6,535		)	186,758
Warehouse, processing and delivery expense	25,913			2,932			5,963			—			34,808
Sales, general and administrative expense	18,786			4,534			4,566			—			27,886
Restructuring activity	627			—			258			—			885
Depreciation and amortization expense	4,864			558			978			—			6,400
Operating (loss) income	(5,188		)	1,613			551			—			(3,024		)
Interest expense, net	(6,594		)	—			(3,583		)	—			(10,177		)
Other income	—			—			166			—			166
(Loss) income before income taxes and equity in earnings of subsidiaries and joint venture	(11,782		)	1,613			(2,866		)	—			(13,035		)
Income taxes	3,848			(615		)	1,038			—			4,271
Equity in (losses) earnings of subsidiaries	(830		)	—			—			830			—
Equity in earnings of joint venture	1,853			—			—			—			1,853
Net (loss) income	$	(6,911	)	$	998		$	(1,828	)	$	830		$	(6,911	)
Comprehensive (loss) income	$	(5,641	)	$	998		$	(904	)	$	(94	)	$	(5,641	)

Condensed Consolidating Statement of Operations and Comprehensive Loss For the Nine Months Ended September 30, 2014
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net Sales	$	469,455		$	104,531		$	184,316		$	(9,931	)	$	748,371
Costs, expenses and (gains):
Cost of materials (exclusive of depreciation and amortization)	352,013			74,020			148,411			(9,931		)	564,513
Warehouse, processing and delivery expense	77,166			8,805			20,597			—			106,568
Sales, general and administrative expense	55,638			14,054			14,588			—			84,280
Restructuring activity	(3,725		)	—			224			—			(3,501		)
Depreciation and amortization expense	14,643			1,632			3,114			—			19,389
Impairment of goodwill	41,308			—			14,852			—			56,160
Operating (loss) income	(67,588		)	6,020			(17,470		)	—			(79,038		)
Interest expense, net	(18,848		)	—			(11,140		)	—			(29,988		)
Other expense	—			—			(1,427		)	—			(1,427		)
(Loss) income before income taxes and equity in earnings of subsidiaries and joint venture	(86,436		)	6,020			(30,037		)	—			(110,453		)
Income taxes	7,750			(1,946		)	3,114			—			8,918
Equity in (losses) earnings of subsidiaries	(22,849		)	—			—			22,849			—
Equity in earnings of joint venture	5,914			—			—			—			5,914
Net (loss) income	$	(95,621	)	$	4,074		$	(26,923	)	$	22,849		$	(95,621	)
Comprehensive (loss) income	$	(96,298	)	$	4,074		$	(28,361	)	$	24,287		$	(96,298	)

Condensed Consolidating Statement of Operations and Comprehensive Loss For the Nine Months Ended September 30, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Net Sales	$	559,388		$	102,007		$	183,129		$	(24,687	)	$	819,837
Costs and expenses:
Cost of materials (exclusive of depreciation and amortization)	416,736			73,029			142,572			(24,687		)	607,650
Warehouse, processing and delivery expense	79,311			9,149			17,752			—			106,212
Sales, general and administrative expense	56,499			13,525			15,404			—			85,428
Restructuring activity	6,557			—			2,146			—			8,703
Depreciation and amortization expense	14,933			1,662			3,009			—			19,604
Operating (loss) income	(14,648		)	4,642			2,246			—			(7,760		)
Interest expense, net	(19,418		)	—			(11,037		)	—			(30,455		)
Other expense	—			—			(1,388		)	—			(1,388		)
(Loss) income before income taxes and equity in earnings of subsidiaries and joint venture	(34,066		)	4,642			(10,179		)	—			(39,603		)
Income taxes	11,592			(1,695		)	3,558			—			13,455
Equity in (losses) earnings of subsidiaries	(3,674		)	—			—			3,674			—
Equity in earnings of joint venture	4,816			—			—			—			4,816
Net (loss) income	$	(21,332	)	$	2,947		$	(6,621	)	$	3,674		$	(21,332	)
Comprehensive (loss) income	$	(21,872	)	$	2,947		$	(8,197	)	$	5,250		$	(21,872	)

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2014
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating activities:
Net (loss) income	$	(95,621	)	$	4,074		$	(26,923	)	$	22,849		$	(95,621	)
Equity in losses (earnings) of subsidiaries	22,849			—			—			(22,849		)	—
Adjustments to reconcile net (loss) income to cash (used in) from operating activities	51,088			(508		)	208			—			50,788
Net cash (used in) from operating activities	(21,684		)	3,566			(26,715		)	—			(44,833		)
Investing activities:
Capital expenditures	(4,671		)	(793		)	(3,261		)	—			(8,725		)
Other investing activities	7,096			—			52			—			7,148
Net cash (used in) from investing activities	2,425			(793		)	(3,209		)	—			(1,577		)
Financing activities:
Proceeds from long-term debt	219,714			—			3,075			—			222,789
Repayments of long-term debt	(194,316		)	—			(1,027		)	—			(195,343		)
Net intercompany (repayments) borrowings	(12,012		)	(3,268		)	15,280			—			—
Other financing activities	193			—			—			—			193
Net cash from (used in) financing activities	13,579			(3,268		)	17,328			—			27,639
Effect of exchange rate changes on cash and cash equivalents	—			—			(253		)	—			(253		)
Decrease in cash and cash equivalents	(5,680		)	(495		)	(12,849		)	—			(19,024		)
Cash and cash equivalents - beginning of year	8,675			495			21,659			—			30,829
Cash and cash equivalents - end of period	$	2,995		$	—		$	8,810		$	—		$	11,805

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2013
	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Operating activities:
Net (loss) income	$	(21,332	)	$	2,947		$	(6,621	)	$	3,674		$	(21,332	)
Equity in losses (earnings) of subsidiaries	3,674			—			—			(3,674		)	—
Adjustments to reconcile net (loss) income to cash from operating activities	76,970			(396		)	10,460			—			87,034
Net cash from operating activities	59,312			2,551			3,839			—			65,702
Investing activities:
Capital expenditures	(3,803		)	(1,378		)	(2,401		)	—			(7,582		)
Other investing activities	730			—			35			—			765
Net cash used in investing activities	(3,073		)	(1,378		)	(2,366		)	—			(6,817		)
Financing activities:
Short-term debt repayments	—			—			(501		)	—			(501		)
Proceeds from long-term debt	115,300			—			—			—			115,300
Repayments of long-term debt	(151,094		)	—			(4,098		)	—			(155,192		)
Net intercompany (repayments) borrowings	(2,423		)	(1,524		)	3,947			—			—
Other financing activities	1,516			—			—			—			1,516
Net cash used in financing activities	(36,701		)	(1,524		)	(652		)	—			(38,877		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(121		)	—			(121		)
Increase (decrease) in cash and cash equivalents	19,538			(351		)	700			—			19,887
Cash and cash equivalents - beginning of year	4,106			903			16,598			—			21,607
Cash and cash equivalents - end of period	$	23,644		$	552		$	17,298		$	—		$	41,494