XML 34 R32.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)
9 Months Ended
Sep. 30, 2012
Financial Information for Subsidiary Guarantors and Non-Guarantors  
Balance Sheet

 

September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Balance Sheet

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

 

$

 

$

1,133

 

$

 

$

1,133

 

Inventories

 

 

 

 

 

1,228

 

 

 

1,228

 

Other current assets

 

 

 

 

 

427

 

 

 

427

 

Total current assets

 

 

 

2,788

 

 

2,788

 

Investments in and advances to subsidiaries

 

1,921

 

1,671

 

 

 

(3,592

)

 

Goodwill

 

 

 

 

 

2,065

 

 

 

2,065

 

Other non-current assets

 

 

 

 

 

1,283

 

 

 

1,283

 

Total other assets

 

1,921

 

1,671

 

3,348

 

(3,592

)

3,348

 

Property, plant and equipment, net

 

 

 

 

 

2,735

 

 

 

2,735

 

Total assets

 

$

1,921

 

$

1,671

 

$

8,871

 

$

(3,592

)

$

8,871

 

Current liabilities :

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

 

$

 

$

1,517

 

$

 

$

1,517

 

Current portion of asbestos liability

 

165

 

 

 

 

 

 

 

165

 

Short-term loans and long-term debt due within one year

 

 

 

 

 

356

 

 

 

356

 

Total current liabilities

 

165

 

 

1,873

 

 

2,038

 

Long-term debt

 

250

 

 

 

3,537

 

(250

)

3,537

 

Asbestos-related liabilities

 

220

 

 

 

 

 

 

 

220

 

Other non-current liabilities

 

 

 

 

 

1,640

 

 

 

1,640

 

Total share owners’ equity of the Company

 

1,286

 

1,671

 

1,671

 

(3,342

)

1,286

 

Noncontrolling interests

 

 

 

 

 

150

 

 

 

150

 

Total liabilities and share owners’ equity

 

$

1,921

 

$

1,671

 

$

8,871

 

$

(3,592

)

$

8,871

 

 

 

 

December 31, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Balance Sheet

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

 

$

 

$

1,158

 

$

 

$

1,158

 

Inventories

 

 

 

 

 

1,061

 

 

 

1,061

 

Other current assets

 

 

 

 

 

524

 

 

 

524

 

Total current assets

 

 

 

2,743

 

 

2,743

 

Investments in and advances to subsidiaries

 

1,609

 

1,359

 

 

 

(2,968

)

 

Goodwill

 

 

 

 

 

2,082

 

 

 

2,082

 

Other non-current assets

 

 

 

 

 

1,273

 

 

 

1,273

 

Total other assets

 

1,609

 

1,359

 

3,355

 

(2,968

)

3,355

 

Property, plant and equipment, net

 

 

 

 

 

2,877

 

 

 

2,877

 

Total assets

 

$

1,609

 

$

1,359

 

$

8,975

 

$

(2,968

)

$

8,975

 

Current liabilities :

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

 

$

 

$

1,674

 

$

 

$

1,674

 

Current portion of asbestos liability

 

165

 

 

 

 

 

 

 

165

 

Short-term loans and long-term debt due within one year

 

 

 

 

 

406

 

 

 

406

 

Total current liabilities

 

165

 

 

2,080

 

 

2,245

 

Long-term debt

 

250

 

 

 

3,627

 

(250

)

3,627

 

Asbestos-related liabilities

 

306

 

 

 

 

 

 

 

306

 

Other non-current liabilities

 

 

 

 

 

1,756

 

 

 

1,756

 

Total share owners’ equity of the Company

 

888

 

1,359

 

1,359

 

(2,718

)

888

 

Noncontrolling interests

 

 

 

 

 

153

 

 

 

153

 

Total liabilities and share owners’ equity

 

$

1,609

 

$

1,359

 

$

8,975

 

$

(2,968

)

$

8,975

 

 

 

 

September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Balance Sheet

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

Accounts receivable

 

$

 

$

 

$

1,218

 

$

 

$

1,218

 

Inventories

 

 

 

 

 

1,101

 

 

 

1,101

 

Other current assets

 

 

 

 

 

369

 

 

 

369

 

Total current assets

 

 

 

2,688

 

 

2,688

 

Investments in and advances to subsidiaries

 

2,613

 

2,363

 

 

 

(4,976

)

 

Goodwill

 

 

 

 

 

2,762

 

 

 

2,762

 

Other non-current assets

 

 

 

 

 

1,220

 

 

 

1,220

 

Total other assets

 

2,613

 

2,363

 

3,982

 

(4,976

)

3,982

 

Property, plant and equipment, net

 

 

 

 

 

2,931

 

 

 

2,931

 

Total assets

 

$

2,613

 

$

2,363

 

$

9,601

 

$

(4,976

)

$

9,601

 

Current liabilities :

 

 

 

 

 

 

 

 

 

 

 

Accounts payable and accrued liabilities

 

$

 

$

 

$

1,598

 

$

 

$

1,598

 

Current portion of asbestos liability

 

170

 

 

 

 

 

 

 

170

 

Short-term loans and long-term debt due within one year

 

 

 

 

 

345

 

 

 

345

 

Total current liabilities

 

170

 

 

1,943

 

 

2,113

 

Long-term debt

 

250

 

 

 

3,743

 

(250

)

3,743

 

Asbestos-related liabilities

 

204

 

 

 

 

 

 

 

204

 

Other non-current liabilities

 

 

 

 

 

1,398

 

 

 

1,398

 

Total share owners’ equity of the Company

 

1,989

 

2,363

 

2,363

 

(4,726

)

1,989

 

Noncontrolling interests

 

 

 

 

 

154

 

 

 

154

 

Total liabilities and share owners’ equity

 

$

2,613

 

$

2,363

 

$

9,601

 

$

(4,976

)

$

9,601

 

Results of Operations

Three months ended September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Results of Operations

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net sales

 

$

 

$

 

$

1,747

 

$

 

$

1,747

 

Manufacturing, shipping and delivery

 

 

 

 

 

(1,405

)

 

 

(1,405

)

Gross profit

 

 

 

342

 

 

342

 

Research, engineering, selling, administrative, and other

 

 

 

 

 

(180

)

 

 

(180

)

Net intercompany interest

 

5

 

 

 

(5

)

 

 

 

Interest expense

 

(5

)

 

 

(56

)

 

 

(61

)

Interest income

 

 

 

 

 

2

 

 

 

2

 

Equity earnings from subsidiaries

 

90

 

90

 

 

 

(180

)

 

Other equity earnings

 

 

 

 

 

16

 

 

 

16

 

Other income

 

 

 

 

 

8

 

 

 

8

 

Earnings before income taxes

 

90

 

90

 

127

 

(180

)

127

 

Provision for income taxes

 

 

 

 

 

(28

)

 

 

(28

)

Earnings from continuing operations

 

90

 

90

 

99

 

(180

)

99

 

Loss from discontinued operations

 

 

 

 

 

(2

)

 

 

(2

)

Net earnings

 

90

 

90

 

97

 

(180

)

97

 

Net earnings attributable to noncontrolling interests

 

 

 

 

 

(7

)

 

 

(7

)

Net earnings attributable to the Company

 

$

90

 

$

90

 

$

90

 

$

(180

)

$

90

 

 

 

 

Three months ended September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Comprehensive Income

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net earnings

 

$

90

 

$

90

 

$

97

 

$

(180

)

$

97

 

Other comprehensive income

 

103

 

103

 

81

 

(182

)

105

 

Total comprehensive income

 

193

 

193

 

178

 

(362

)

202

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

(9

)

 

 

(9

)

Comprehensive income attributable to the Company

 

$

193

 

$

193

 

$

169

 

$

362

)

$

193

 

 

 

 

Three months ended September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Results of Operations

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net sales

 

$

 

$

 

$

1,862

 

$

 

$

1,862

 

Manufacturing, shipping and delivery

 

 

 

 

 

(1,475

)

 

 

(1,475

)

Gross profit

 

 

 

387

 

 

387

 

Research, engineering, selling, administrative, and other

 

 

 

 

 

(196

)

 

 

(196

)

Net intercompany interest

 

5

 

 

 

(5

)

 

 

 

Interest expense

 

(5

)

 

 

(65

)

 

 

(70

)

Interest income

 

 

 

 

 

2

 

 

 

2

 

Equity earnings from subsidiaries

 

116

 

116

 

 

 

(232

)

 

Other equity earnings

 

 

 

 

 

19

 

 

 

19

 

Other income

 

 

 

 

 

6

 

 

 

6

 

Earnings from continuing operations before income taxes

 

116

 

116

 

148

 

(232

)

148

 

Provision for income taxes

 

 

 

 

 

(25

)

 

 

(25

)

Earnings from continuing operations

 

116

 

116

 

123

 

(232

)

123

 

Loss from discontinued operations

 

 

 

 

 

(3

)

 

 

(3

)

Net earnings

 

116

 

116

 

120

 

(232

)

120

 

Net earnings attributable to noncontrolling interest

 

 

 

 

 

(4

)

 

 

(4

)

Net earnings attributable to the Company

 

$

116

 

$

116

 

$

116

 

$

(232

)

$

116

 

 

 

 

Three months ended September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Comprehensive Income

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net earnings

 

$

116

 

$

116

 

$

120

 

$

(232

)

$

120

 

Other comprehensive income

 

(315

)

(315

)

(341

)

650

 

(321

)

Total comprehensive income

 

(199

)

(199

)

(221

)

418

 

(201

)

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

2

 

 

 

2

 

Comprehensive income attributable to the Company

 

$

(199

)

$

(199

)

$

(219

)

$

418

 

$

(199

)

 

 

 

Nine months ended September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Results of Operations

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net sales

 

$

 

$

 

$

5,252

 

$

 

$

5,252

 

Manufacturing, shipping, and delivery

 

 

 

 

 

(4,156

)

 

 

(4,156

)

Gross profit

 

 

 

1,096

 

 

1,096

 

Research, engineering, selling, administrative, and other

 

 

 

 

 

(510

)

 

 

(510

)

Net intercompany interest

 

15

 

 

 

(15

)

 

 

Interest expense

 

(15

)

 

 

(172

)

 

 

(187

)

Interest income

 

 

 

 

 

7

 

 

7

 

Equity earnings from subsidiaries

 

344

 

344

 

 

 

(688

)

 

Other equity earnings

 

 

 

 

 

47

 

 

 

47

 

Other income

 

 

 

 

 

23

 

 

 

23

 

Earnings from continuing operations before income taxes

 

344

 

344

 

476

 

(688

)

476

 

Provision for income taxes

 

 

 

 

 

(113

)

 

 

(113

)

Earnings from continuing operations

 

344

 

344

 

363

 

(688

)

363

 

Loss from discontinued operations

 

 

 

 

 

(4

)

 

 

(4

)

Net earnings

 

344

 

344

 

359

 

(688

)

359

 

Net earnings attributable to noncontrolling interest

 

 

 

 

 

(15

)

 

 

(15

)

Net earnings attributable to the Company

 

$

344

 

$

344

 

$

344

 

$

(688

)

$

344

 

 

 

 

Nine months ended September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Comprehensive Income

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net earnings

 

$

344

 

$

344

 

$

359

 

$

(688

)

$

359

 

Other comprehensive income (loss)

 

51

 

51

 

(16

)

(29

)

57

 

Total comprehensive income

 

395

 

395

 

343

 

(717

)

416

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

(21

)

 

 

(21

)

Comprehensive income attributable to the Company

 

$

395

 

$

395

 

$

322

 

$

(717

)

$

395

 

 

 

 

Nine months ended September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Results of Operations

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net sales

 

$

 

$

 

$

5,540

 

$

 

$

5,540

 

Manufacturing, shipping and delivery

 

 

 

 

 

(4,455

)

 

 

(4,455

)

Gross profit

 

 

 

1,085

 

 

1,085

 

Research, engineering, selling, administrative, and other

 

 

 

 

 

(544

)

 

 

(544

)

Net intercompany interest

 

15

 

 

 

(15

)

 

 

 

Interest expense

 

(15

)

 

 

(231

)

 

 

(246

)

Interest income

 

 

 

 

 

8

 

 

 

8

 

Equity earnings from subsidiaries

 

271

 

271

 

 

 

(542

)

 

Other equity earnings

 

 

 

 

 

52

 

 

 

52

 

Other income

 

 

 

 

 

18

 

 

 

18

 

Earnings from continuing operations before income taxes

 

271

 

271

 

373

 

(542

)

373

 

Provision for income taxes

 

 

 

 

 

(85

)

 

 

(85

)

Earnings from continuing operations

 

271

 

271

 

288

 

(542

)

288

 

Loss from discontinued operations

 

 

 

 

 

(2

)

 

 

(2

)

Net earnings

 

271

 

271

 

286

 

(542

)

286

 

Net earnings attributable to noncontrolling interest

 

 

 

 

 

(15

)

 

 

(15

)

Net earnings attributable to the Company

 

$

271

 

$

271

 

$

271

 

$

(542

)

$

271

 

 

 

 

Nine months ended September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Comprehensive Income

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Net earnings

 

$

271

 

$

271

 

$

286

 

$

(542

)

$

286

 

Other comprehensive income

 

(81

)

(81

)

(141

)

225

 

(78

)

Total comprehensive income

 

190

 

190

 

145

 

(317

)

208

 

Comprehensive income attributable to noncontrolling interests

 

 

 

 

 

(18

)

 

 

(18

)

Comprehensive income attributable to the Company

 

$

190

 

$

190

 

$

127

 

$

(317

)

$

190

Cash Flows

 

 

 

Nine months ended September 30, 2012

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Cash Flows

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Cash provided by (used in) operating activities

 

$

(86

)

$

 

$

313

 

$

 

$

227

 

Cash used in investing activities

 

 

 

 

 

(125

)

 

 

(125

)

Cash provided by (used in) financing activities

 

86

 

 

 

(265

)

 

 

(179

)

Effect of exchange rate change on cash

 

 

 

 

 

13

 

 

 

13

 

Net change in cash

 

 

 

(64

)

 

(64

)

Cash at beginning of period

 

 

 

 

 

400

 

 

 

400

 

Cash at end of period

 

$

 

$

 

$

336

 

$

 

$

336

 

 

 

 

Nine months ended September 30, 2011

 

 

 

 

 

 

 

Non-

 

 

 

 

 

 

 

 

 

Guarantor

 

Guarantor

 

 

 

 

 

Cash Flows

 

Parent

 

Subsidiaries

 

Subsidiaries

 

Eliminations

 

Consolidated

 

Cash provided by (used in) operating activities

 

$

(102

)

$

 

$

382

 

$

 

$

280

 

Cash used in investing activities

 

 

 

 

 

(351

)

 

 

(351

)

Cash provided by (used in) financing activities

 

102

 

 

 

(418

)

 

 

(316

)

Effect of exchange rate change on cash

 

 

 

 

 

3

 

 

 

3

 

Net change in cash

 

 

 

(384

)

 

(384

)

Cash at beginning of period

 

 

 

 

 

640

 

 

 

640

 

Cash at end of period

 

$

 

$

 

$

256

 

$

 

$

256