Debtor's Financial Statements

6 Months Ended

Sep. 30, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

DEBTOR FINANCIAL STATEMENTS

DEBTOR FINANCIAL STATEMENTS

The financial statements reflect the results of operations, financial position, and cash flows of the Debtor only, including certain amounts and activities between Debtor and non-Debtor subsidiaries of the Company, which were eliminated in the Consolidated Financial Statements.

Debtor's Statements of Operations

	Three Months Ended						Six Months Ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
	(In thousands)						(In thousands)
Net sales	$	241,744		$	296,236		$	511,322		$	583,830
Cost of sales	210,874			255,152			462,588			517,920
Gross profit	30,870			41,084			48,734			65,910
Selling and administrative expenses	42,217			38,200			79,226			78,706
Restructuring and impairments, net	13,655			2,298			13,910			9,931
Operating income (loss)	(25,002		)	586			(44,402		)	(22,727		)
Other (income) expense, net	16,496			(5,771		)	17,849			(28,688		)
Loss in net earnings of subsidiaries	1,252			2,093			5,488			33,410
Interest expense, net	33,914			26,028			62,980			44,175
Loss before reorganization items, net	(76,664		)	(21,764		)	(130,719		)	(71,624		)
Reorganization items, net	19,558			18,397			36,724			57,465
Loss before income taxes	(96,222		)	(40,161		)	(167,443		)	(129,089		)
Income tax provision	—			14			—			2,221
Net loss attributable to Debtor	$	(96,222	)	$	(40,175	)	$	(167,443	)	$	(131,310	)

Debtor's Balance Sheet

	September 30, 2014			March 31, 2014
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	19,934		$	17,349
Accounts receivable, net	103,086			133,384
Non-Debtor receivables	51,086			40,550
Inventories	212,146			196,129
Prepaid expenses and other current assets	54,675			37,594
Total current assets	440,927			425,006
Property, plant and equipment, net	227,507			228,297
Other assets:
Investments in non-Debtor subsidiaries	362,944			400,048
Non-Debtor loans	244,047			240,505
Other noncurrent assets	65,133			84,734
Total other assets	672,124			725,287
Total assets	$	1,340,558		$	1,378,590
LIABILITIES AND DEBTOR'S DEFICIT
Current liabilities:
Current maturities of long-term debt	$	413,498		$	284,625
Accounts payable and accrued expenses	118,293			110,812
Total current liabilities	531,791			395,437
Other noncurrent liabilities	56,409			60,442
Liabilities not subject to compromise	588,200			455,879
Liabilities subject to compromise	982,308			950,643
DEBTOR'S DEFICIT
Total Debtor's deficit	(229,950		)	(27,932		)
Total liabilities and Debtor's deficit	$	1,340,558		$	1,378,590

Debtor's Statements of Cash Flows

	Six Months Ended
	September 30, 2014			September 30, 2013
	(In thousands)
Cash Flows From Operating Activities:
Net cash used in operating activities	$	(104,048	)	$	(217,406	)
Cash Flows From Investing Activities:
Capital expenditures	(15,398		)	(14,410		)
Proceeds from asset sales	14			12
Net cash used in investing activities	(15,384		)	(14,398		)
Cash Flows From Financing Activities:
Increase in other debt	127,181			267,207
Financing fees and other	(5,164		)	(28,475		)
Net cash provided by financing activities	122,017			238,732
Net increase in cash and cash equivalents	2,585			6,928
Cash and cash equivalents, beginning of period	17,349			26,419
Cash and cash equivalents, end of period	$	19,934		$	33,347