Debtor's Financial Statements

9 Months Ended

Dec. 31, 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						Nine Months Ended
	December 31, 2014			December 31, 2013			December 31, 2014			December 31, 2013
	(In thousands)						(In thousands)
Net sales	$	253,290		$	266,612		$	764,612		$	850,442
Cost of sales	228,790			230,420			691,378			748,340
Gross profit	24,500			36,192			73,234			102,102
Selling and administrative expenses	38,248			38,005			117,474			116,711
Restructuring and impairments, net	681			(1,239		)	14,591			8,692
Operating loss	(14,429		)	(574		)	(58,831		)	(23,301		)
Other (income) expense, net	9,545			(3,671		)	27,394			(32,359		)
Loss (gain) in net earnings of subsidiaries	(7,292		)	(6,224		)	(1,804		)	27,186
Interest expense, net	28,698			27,200			91,678			71,375
Loss before reorganization items, net	(45,380		)	(17,879		)	(176,099		)	(89,503		)
Reorganization items, net	18,145			16,783			54,869			74,248
Loss before income taxes	(63,525		)	(34,662		)	(230,968		)	(163,751		)
Income tax provision	—			30			—			2,248
Net loss attributable to Debtor	$	(63,525	)	$	(34,692	)	$	(230,968	)	$	(165,999	)

Debtor's Balance Sheet

	December 31, 2014			March 31, 2014
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	4,333		$	17,349
Accounts receivable, net	98,120			133,384
Non-Debtor receivables	47,637			40,550
Inventories	201,588			196,129
Prepaid expenses and other current assets	27,558			37,594
Total current assets	379,236			425,006
Property, plant and equipment, net	231,003			228,297
Other assets:
Investments in non-Debtor subsidiaries	350,962			400,048
Non-Debtor loans	239,247			240,505
Other noncurrent assets	135,607			84,734
Total other assets	725,816			725,287
Total assets	$	1,336,055		$	1,378,590
LIABILITIES AND DEBTOR'S DEFICIT
Current liabilities:
Current maturities of long-term debt	$	483,783		$	284,625
Accounts payable and accrued expenses	113,070			110,812
Total current liabilities	596,853			395,437
Other noncurrent liabilities	55,236			60,442
Liabilities not subject to compromise	652,089			455,879
Liabilities subject to compromise	998,317			950,643
DEBTOR'S DEFICIT
Total Debtor's deficit	(314,351		)	(27,932		)
Total liabilities and Debtor's deficit	$	1,336,055		$	1,378,590

Debtor's Statements of Cash Flows

	Nine Months Ended
	December 31, 2014			December 31, 2013
	(In thousands)
Cash Flows From Operating Activities:
Net cash used in operating activities	$	(164,857	)	$	(259,895	)
Cash Flows From Investing Activities:
Capital expenditures	(28,287		)	(21,808		)
Proceeds from asset sales	27			111
Net cash used in investing activities	(28,260		)	(21,697		)
Cash Flows From Financing Activities:
Increase in other debt	196,173			295,653
Financing fees and other	(16,072		)	(29,221		)
Net cash provided by financing activities	180,101			266,432
Net decrease in cash and cash equivalents	(13,016		)	(15,160		)
Cash and cash equivalents, beginning of period	17,349			26,419
Cash and cash equivalents, end of period	$	4,333		$	11,259