Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)

3 Months Ended

Mar. 31, 2012

Financial Information for Subsidiary Guarantors and Non-Guarantors

Balance Sheet

	March 31, 2012
								Non-
					Guarantor			Guarantor
Balance Sheet	Parent		Issuer		Subsidiaries			Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	110	$	(12	)	$	1,101				$	1,199
Inventories			212					1,025					1,237
Other current assets			3		32			394					429
Total current assets	—		325		20			2,520		—			2,865
Investments in and advances to subsidiaries	1,822		2,987		(12		)			(4,797		)	—
Goodwill			555		8			1,564					2,127
Other non-current assets			162		88			1,035					1,285
Total other assets	1,822		3,704		84			2,599		(4,797		)	3,412
Property, plant and equipment, net			619		44			2,221					2,884
Total assets	$	1,822	$	4,648	$	148		$	7,340	$	(4,797	)	$	9,161
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	235	$	77		$	1,219	$	14		$	1,545
Short-term loans and long-term debt due within one year			23		1			382					406
Total current liabilities	—		258		78			1,601		14			1,951
Long-term debt	250		1,849		14			1,611					3,724
Other non-current liabilities			34		741			975					1,750
Investments by and advances from parent			2,507		(685		)	2,989		(4,811		)	—
Total share owner’s equity of the Company	1,572												1,572
Noncontrolling interests								164					164
Total liabilities and share owners’ equity	$	1,822	$	4,648	$	148		$	7,340	$	(4,797	)	$	9,161

	December 31, 2011
								Non-
					Guarantor			Guarantor
Balance Sheet	Parent		Issuer		Subsidiaries			Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	120	$	(14	)	$	1,052	$	—		$	1,158
Inventories			192					869					1,061
Other current assets			3		33			488					524
Total current assets	—		315		19			2,409		—			2,743
Investments in and advances to subsidiaries	1,609		2,788		18					(4,415		)	—
Goodwill			561		8			1,513					2,082
Other non-current assets			148		83			1,041		1			1,273
Total other assets	1,609		3,497		109			2,554		(4,414		)	3,355
Property, plant and equipment, net			626		45			2,206					2,877
Total assets	$	1,609	$	4,438	$	173		$	7,169	$	(4,414	)	$	8,975
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	358	$	19		$	1,310	$	(13	)	$	1,674
Short-term loans and long-term debt due within one year			15		1			390					406
Total current liabilities	—		373		20			1,700		(13		)	2,080
Long-term debt	250		1,797		15			1,565					3,627
Other non-current liabilities			45		753			958					1,756
Investments by and advances from parent			2,223		(615		)	2,793		(4,401		)	—
Total share owner’s equity of the Company	1,359									—			1,359
Noncontrolling interests								153					153
Total liabilities and share owners’ equity	$	1,609	$	4,438	$	173		$	7,169	$	(4,414	)	$	8,975

	March 31, 2011
								Non-
					Guarantor			Guarantor
Balance Sheet	Parent		Issuer		Subsidiaries			Subsidiaries		Eliminations			Consolidated
Current assets:
Accounts receivable	$	—	$	129	$	(7	)	$	1,101	$	—		$	1,223
Inventories			169					935		(1		)	1,103
Other current assets			21		166			321					508
Total current assets	—		319		159			2,357		(1		)	2,834
Investments in and advances to subsidiaries	2,722		3,904		(224		)			(6,402		)	—
Goodwill			561		10			2,329					2,900
Other non-current assets			150		124			875		(1		)	1,148
Total other assets	2,722		4,615		(90		)	3,204		(6,403		)	4,048
Property, plant and equipment, net			653		42			2,448					3,143
Total assets	$	2,722	$	5,587	$	111		$	8,009	$	(6,404	)	$	10,025
Current liabilities :
Accounts payable and accrued liabilities	$	—	$	303	$	41		$	1,195	$	(4	)	$	1,535
Short-term loans and long-term debt due within one year					1			371					372
Total current liabilities	—		303		42			1,566		(4		)	1,907
Long-term debt	250		2,105		15			1,621					3,991
Other non-current liabilities			98		413			945		(2		)	1,454
Investments by and advances from parent			3,081		(359		)	3,676		(6,398		)	—
Total share owner’s equity of the Company	2,472									—			2,472
Noncontrolling interests								201					201
Total liabilities and share owners’ equity	$	2,722	$	5,587	$	111		$	8,009	$	(6,404	)	$	10,025

Results of Operations

	Three months ended March 31, 2012
										Non-
							Guarantor			Guarantor
Results of Operations	Parent			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales				$	456					$	1,283					$	1,739
Manufacturing, shipping, and delivery				(330		)				(1,031		)				(1,361		)
Gross profit	—			126			—			252			—			378
Research, engineering, selling, administrative, and other				(47		)	(23		)	(96		)				(166		)
Net intercompany interest	5			(5		)										—
Interest expense	(5		)	(26		)				(33		)				(64		)
Interest income										3						3
Equity earnings from subsidiaries	121			97									(218		)	—
Other equity earnings				3						10						13
Other income				4						2						6
Earnings (loss) from continuing operations before income taxes	121			152			(23		)	138			(218		)	170
Provision for income taxes				(3		)	(1		)	(40		)				(44		)
Earnings (loss) from continuing
operations	121			149			(24		)	98			(218		)	126
Earnings from discontinued operations										(1		)				(1		)
Net earnings (loss)	121			149			(24		)	97			(218		)	125
Net earnings attributable to noncontrolling interests										(4		)				(4		)
Net earnings (loss) attributable to the Company	$	121		$	149		$	(24	)	$	93		$	(218	)	$	121

	Three months ended March 31, 2012
								Non-
					Guarantor			Guarantor
Comprehensive Income	Parent		Issuer		Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	121	$	149	$	(24	)	$	97		$	(218	)	$	125
Other comprehensive income	116							99			(92		)	123
Total comprehensive income (loss)	237		149		(24		)	196			(310		)	248
Comprehensive income attributable to noncontrolling interests								(11		)				(11		)
Comprehensive income (loss) attributable to the Company	$	237	$	149	$	(24	)	$	185		$	(310	)	$	237

	Three months ended March 31, 2011
										Non-
							Guarantor			Guarantor
Results of Operations	Parent			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	449		$	—		$	1,296		$	(26	)	$	1,719
Manufacturing, shipping, and delivery				(364		)				(1,110		)	98			(1,376		)
Gross profit	—			85			—			186			72			343
Research, engineering, selling, administrative, and other				(40		)	(17		)	(120		)	1			(176		)
Net intercompany interest	5						(4		)	(1		)				—
Interest expense	(5		)	(36		)	(1		)	(34		)				(76		)
Interest income										3						3
Equity earnings from subsidiaries	82			22			(7		)				(97		)	—
Other equity earnings				2			7			4			1			14
Other income				76						2			(71		)	7
Earnings (loss) from continuing operations before income taxes	82			109			(22		)	40			(94		)	115
Provision for income taxes				(4		)	(4		)	(20		)				(28		)
Earnings (loss) from continuing operations	82			105			(26		)	20			(94		)	87
Loss from discontinued operations							(1		)							(1		)
Net earnings (loss)	82			105			(27		)	20			(94		)	86
Net earnings attributable to noncontrolling interests										(4		)				(4		)
Net earnings (loss) attributable to the Company	$	82		$	105		$	(27	)	$	16		$	(94	)	$	82

	Three months ended March 31, 2011
									Non-
						Guarantor			Guarantor
Comprehensive Income	Parent		Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	82	$	105		$	(27	)	$	20		$	(94	)	$	86
Other comprehensive income (loss)	91		(17		)				91			(70		)	95
Total comprehensive income (loss)	173		88			(27		)	111			(164		)	181
Comprehensive income attributable to noncontrolling interests									(8		)				(8		)
Comprehensive income (loss) attributable to the Company	$	173	$	88		$	(27	)	$	103		$	(164	)	$	173

Cash Flows

	Three months ended March 31, 2012
										Non-
							Guarantor			Guarantor
Cash Flows	Parent			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided by (utilized in) operating activities	$	—		$	45		$	42		$	(80	)	$	(72	)	$	(65	)
Investing Activities:
Additions to property, plant and equipment				(29		)	(1		)	(43		)				(73		)
Acquisitions, net of cash acquired										(5		)				(5		)
Net cash proceeds from asset sales and other										11						11
Cash utilized in investing activities	—			(29		)	(1		)	(37		)	—			(67		)
Financing Activities:
Net distribution to OI Inc.	(30		)													(30		)
Change in intercompany transactions	30			(71		)	(42		)	11			72			—
Additions to long term debt				110						9						119
Repayments of long term debt				(55		)				(7		)				(62		)
Decrease in short term debt										(20		)				(20		)
Net receipts for hedging activity										8						8
Cash provided by (utilized in) financing activities	—			(16		)	(42		)	1			72			15
Effect of exchange rate change on cash										16						16
Decrease in cash	—			—			(1		)	(100		)	—			(101		)
Cash at beginning of period							21			379						400
Cash at end of period	$	—		$	—		$	20		$	279		$	—		$	299

	Three months ended March 31, 2011
										Non-
							Guarantor			Guarantor
Cash Flows	Parent			Issuer			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided by (utilized in) operating activities	$	—		$	91		$	55		$	(156	)	$	(42	)	$	(52	)
Investing Activities:
Additions to property, plant, and equipment				(17		)	(1		)	(55		)				(73		)
Acquisitions, net of cash acquired										6						6
Cash utilized in investing activities	—			(17		)	(1		)	(49		)	—			(67		)
Financing Activities:
Net distribution to OI Inc.	(31		)													(31		)
Change in intercompany transactions	31			(74		)	(106		)	107			42			—
Additions to short term debt										(32		)				(32		)
Additions to long term debt										5						5
Repayments of long term debt										(10		)				(10		)
Net receipts for hedging activity										(12		)				(12		)
Dividends paid to noncontrolling interests										(18		)				(18		)
Cash provided by (utilized in) financing activities	—			(74		)	(106		)	40			42			(98		)
Effect of exchange rate change on cash										7						7
Decrease in cash	—			—			(52		)	(158		)	—			(210		)
Cash at beginning of period							230			410						640
Cash at end of period	$	—		$	—		$	178		$	252		$	—		$	430