Guarantor and Non-guarantor Financial Statements (Tables)

12 Months Ended

Dec. 31, 2012

Guarantor and Non-guarantor Financial Statements [Abstract]

CONDENSED CONSOLIDATED BALANCE SHEET

CONDENSED CONSOLIDATING BALANCE SHEETS

	December 31, 2012
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
ASSETS
Cash and cash equivalents	$	24,113		$	(109	)	$	2,747			—		$	26,751
Accounts and other receivables, net		62,719			29,285			3,219		$	(30,627	)		64,596
Inventories		19,563			39,443			2,766			(580	)		61,192
Other current assets		(1,348	)		10,737			786			—			10,175
Total current assets		105,047			79,356			9,518			(31,207	)		162,714
Property, plant, and equipment, net		93,990			135,215			38,172			—			267,377
Goodwill		96,283			4,414			—			—			100,697
Intangible assets, net		131,347			2,833			—			—			134,180
Investments in and advances to subsidiaries and affiliates		95,958			—			—			(95,958	)		—
Other non-current assets		(2,694	)		20,261			2,184			(6,903	)		12,848
TOTAL	$	519,931		$	242,079		$	49,874		$	(134,068	)	$	677,816
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	14,838		$	36,702			7,641			—		$	59,181
Accrued payroll and compensation		1,241			7,488			1,997			—			10,726
Accrued interest payable		12,543			—			—			—			12,543
Accrued and other liabilities		35,756			16,479			3,283		$	(31,207	)		24,311
Total current liabilities		64,378			60,669			12,921			(31,207	)		106,761
Long term debt		324,133			—			—			—			324,133
Deferred and non-current income taxes		48,071			(12,042	)		(1,894	)		(6,903	)		27,232
Other non-current liabilities		18,476			106,671			29,670			—			154,817
Stockholders' equity		64,873			86,781			9,177			(95,958	)		64,873
TOTAL	$	519,931		$	242,079		$	49,874		$	(134,068	)	$	677,816

	December 31, 2011
(In thousands)	Parent		Guarantor Subsidiaries			Non-guarantor Subsidiaries		Eliminations			Total
ASSETS
Cash and cash equivalents	$	51,578	$	(2,770	)	$	8,107		—		$	56,915
Accounts and other receivables, net		36,736		100,097			12,099	$	(50,857	)		98,075
Inventories		26,655		39,555			6,617		—			72,827
Other current assets		4,441		5,771			2,120		—			12,332
Total current assets		119,410		142,653			28,943		(50,857	)		240,149
Property, plant, and equipment, net		73,765		150,900			46,897		—			271,562
Goodwill		96,283		67,253			—		—			163,536
Intangible assets, net		139,384		41,965			—		—			181,349
Investments in and advances to subsidiaries and affiliates		281,552		—			—		(281,552	)		—
Other non-current assets		9,880		8,883			1,649		(8,146	)		12,266
TOTAL	$	720,274	$	411,654		$	77,489	$	(340,555	)	$	868,862
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	$	17,615	$	52,938		$	9,708		—		$	80,261
Accrued payroll and compensation		3,079		9,167			4,220		—			16,466
Accrued interest payable		12,503		—			—		—			12,503
Accrued and other liabilities		52,932		13,542			3,642	$	(50,857	)		19,259
Total current liabilities		86,129		75,647			17,570		(50,857	)		128,489
Long term debt		323,082		—			—		—			323,082
Deferred and non-current income taxes		37,045		—			—		(8,146	)		28,899
Other non-current liabilities		16,635		91,447			22,927		—			131,009
Stockholders' equity		257,383		244,560			36,992		(281,552	)		257,383
TOTAL	$	720,274	$	411,654		$	77,489	$	(340,555	)	$	868,862

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

	Successor Year ended December 31, 2012
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	438,378		$	533,771		$	146,620		$	(188,998	)	$	929,771
Cost of goods sold		386,004			544,499			141,377			(188,998	)		882,882
Gross profit		52,374			(10,728	)		5,243			—			46,889
Operating expenses		50,510			5,648			290			—			56,448
Impairment of goodwill and other intangibles assets		—			133,732			—			—			133,732
Income from operations		1,864			(150,108	)		4,953			—			(143,291	)
Other income (expense):
Interest expense, net		(34,672	)		(449	)		183			—			(34,938	)
Equity in earnings of subsidiaries		(147,224	)		—			—			147,224			—
Other income (expense), net		1,167			243			(2,274	)		—			(864	)
Income (loss) before income taxes from continuing operations		(178,865	)		(150,314	)		2,862			147,224			(179,093	)
Income tax (benefit)		(858	)		—			(799	)		—			(1,657	)
Income (loss) from continuing operations		(178,007	)		(150,314	)		3,661			147,224			(177,436	)
Discontinued operations, net of tax		—			—			(571	)		—			(571	)
Net income (loss)	$	(178,007	)	$	(150,314	)	$	3,090		$	147,224		$	(178,007	)
Comprehensive income (loss)	$	(195,419	)	$	(157,779	)	$	(4,392	)	$	162,171		$	(195,419	)

	Successor Year ended December 31, 2011
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	432,994		$	520,139		$	147,236		$	(164,274	)	$	936,095
Cost of goods sold		374,807			506,611			138,140			(164,274	)		855,284
Gross profit		58,187			13,528			9,096			—			80,811
Operating expenses		46,748			9,811			340			—			56,899
Income from operations		11,439			3,717			8,756			—			23,912
Other income (expense):
Interest expense, net		(33,475	)		(1,718	)		1,096			—			(34,097	)
Equity in earnings of subsidiaries		(27,734	)		—			—			27,734			—
Other income (expense), net		37,788			3,267			(37,459	)		—			3,596
Income (loss) before income taxes from continuing operations		(11,982	)		5,266			(27,607	)		27,734			(6,589	)
Income tax provision		5,049			—			2,712			—			7,761
Income (loss) from continuing operations		(17,031	)		5,266			(30,319	)		27,734			(14,350	)
Discontinued operations, net of tax		—			—			(2,681	)		—			(2,681	)
Net income (loss)	$	(17,031	)	$	5,266		$	(33,000	)	$	27,734		$	(17,031	)
Comprehensive income (loss)	$	(42,892	)	$	(8,897	)	$	(40,681	)	$	49,578		$	(42,892	)

	Successor Period from February 26 to December 31, 2010
(In thousands)	Parent			Guarantor Subsidiaries		Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	292,041		$	297,343	$	96,808		$	(103,885	)	$	582,307
Cost of goods sold		275,553			280,005		90,186			(103,885	)		541,859
Gross profit		16,488			17,338		6,622			—			40,448
Operating expenses		46,909			7,005		233			—			54,147
Income (loss) from operations		(30,421	)		10,333		6,389			—			(13,699	)
Other income expense:
Interest expense, net		(33,030	)		2,412		(2,832	)		—			(33,450	)
Equity in earnings of subsidiaries		21,581			—		—			(21,581	)		—
Other income (expense), net		(87,925	)		516		(1,133	)		—			(88,542	)
Income (loss) before income taxes from continuing operations		(129,795	)		13,261		2,424			(21,581	)		(135,691	)
Income tax provision (benefit)		(3,263	)		—		1,056			—			(2,207	)
Income (loss) from continuing operations		(126,532	)		13,261		1,368			(21,581	)		(133,484	)
Discontinued operations, net of tax		—			—		6,952			—			6,952
Net income (loss)	$	(126,532	)	$	13,261	$	8,320		$	(21,581	)	$	(126,532	)
Comprehensive income (loss)	$	(135,093	)	$	12,911	$	1,095		$	(14,006	)	$	(135,093	)

	Predecessor Period from January 1 to February 26, 2010
(In thousands)	Parent			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
Net sales	$	47,044		$	45,412		$	14,011		$	(14,820	)	$	91,647
Cost of goods sold		44,827			45,072			14,318			(14,820	)		89,397
Gross profit (loss)		2,217			340			(307	)		—			2,250
Operating expenses		5,327			1,121			31			—			6,479
Loss from operations		(3,110	)		(781	)		(338	)		—			(4,229	)
Other income (expense):
Interest expense, net		(6,804	)		515			(1,207	)		—			(7,496	)
Equity in earnings of subsidiaries		(1,096	)		—			—			1,096			—
Other income (expense), net		547			49			(30	)		—			566
Income (loss) before reorganization items and income taxes from continuing operations		(10,463	)		(217	)		(1,575	)		1,096			(11,159	)
Reorganization expense (income)		(59,334	)		—			23			—			(59,311	)
Income tax benefit		(1,931	)		—			—			—			(1,931	)
Income (loss) from continuing operations		50,802			(217	)		(1,598	)		1,096			50,083
Discontinued operations, net of tax		—			—			719			—			719
Net income (loss)	$	50,802		$	(217	)	$	(879	)	$	1,096		$	50,802
Comprehensive income (loss)	$	50,802		$	(217	)	$	(879	)	$	1,096		$	50,802

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Successor Year ended December 31, 2012
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(178,007	)	$	(150,314	)	$	3,090		$	147,224		$	(178,007	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and impairment		10,493			160,054			11,319			—			181,866
Amortization – deferred financing costs		2,759			—			—			—			2,759
Amortization – other intangible assets		8,616			2,365			—			—			10,981
(Gain) loss on disposal of assets		(1,950	)		2,719			106			—			875
Deferred income taxes		(1,571	)		—			(2,232	)		—			(3,803	)
Non-cash stock-based compensation		3,119			—			—			—			3,119
Equity in earnings of subsidiaries and affiliates		147,224			—			—			(147,224	)		—
Change in other operating items		35,881			(22,795	)		(2,846	)		—			10,240
Net cash provided by (used in) operating activities		26,564			(7,971	)		9,437			—			28,030
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(25,152	)		(32,025	)		(2,017	)		—			(59,194	)
Other		(37,787	)		42,657			(3,870	)		—			1,000
Net cash provided by (used in) investing activities		(62,939	)		10,632			(5,887	)		—			(58,194	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in revolving credit advance		8,910			—			(8,910	)		—			—
Net cash provided by financing activities		8,910			—			(8,910	)		—			—
Increase (decrease) in cash and cash equivalents		(27,465	)		2,661			(5,360	)		—			(30,164	)
Cash and cash equivalents, beginning of period		51,578			(2,770	)		8,107			—			56,915
Cash and cash equivalents, end of period	$	24,113		$	(109	)	$	2,747		$	—		$	26,751

	Successor Year ended December 31, 2011
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(17,031	)	$	5,266		$	(33,000	)	$	27,734		$	(17,031	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		10,717			21,162			7,039			—			38,918
Amortization – deferred financing costs		2,759			—			—			—			2,759
Amortization – other intangible assets		8,767			2,614			979			—			12,360
(Gain) loss on disposal of assets		(11,461	)		(922	)		12,827			—			444
Deferred income taxes		4,842			—			(548	)		—			4,294
Non-cash stock-based compensation		2,397			—			—			—			2,397
Equity in earnings of subsidiaries and affiliates		27,734			—			—			(27,734	)		—
Non-cash change in warrant liability		(3,971	)		—			—			—			(3,971	)
Change in other operating items		(35,793	)		16,894			(22,808	)		—			(41,707	)
Net cash provided by (used in) operating activities		(11,040	)		45,014			(35,511	)		—			(1,537	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(10,115	)		(45,784	)		(2,472	)		—			(58,371	)
Other		(22,381	)		—			40,738			—			18,357
Net cash provided by (used in) investing activities		(32,496	)		(45,784	)		38,266			—			(40,014	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase in revolving credit advance		20,000			—			—			—			20,000
Net cash provided by financing activities		20,000			—			—			—			20,000
Increase (decrease) in cash and cash equivalents		(23,536	)		(770	)		2,755			—			(21,551	)
Cash and cash equivalents, beginning of period		75,114			(2,000	)		5,352			—			78,466
Cash and cash equivalents, end of period	$	51,578		$	(2,770	)	$	8,107		$	—		$	56,915

	Successor Period from February 26 to December 31, 2010
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(126,532	)	$	13,261		$	8,320		$	(21,581	)	$	(126,532	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		7,026			19,539			8,738			—			35,303
Amortization – deferred financing costs		1,148			—			—			—			1,148
Amortization – other intangible assets		5,572			1,721			1,163			—			8,456
Loss on disposal of assets		16			36			158			—			210
Deferred income taxes		(2,929	)		—			4,228			—			1,299
Paid-in-kind interest		6,863			—			—			—			6,863
Non-cash stock-based compensation		1,101			—			—			—			1,101
Equity in earnings of subsidiaries and affiliates		(21,581	)		—			—			21,581			—
Non-cash change in market valuation - convertible notes		(75,574	)		—			—			—			(75,574	)
Non-cash change in warrant liability		(2,648	)		—			—			—			(2,648	)
Non-cash inducement expense		166,691			—			—			—			166,691
Change in other operating items		20,449			(21,527	)		(4,829	)		—			(5,907	)
Net cash provided by (used in) operating activities		(20,398	)		13,030			17,778			—			10,410
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(2,110	)		(11,889	)		(2,329	)		—			(16,328	)
Other		13,027			311			9,075			—			22,413
Net cash provided by (used in) investing activities		10,917			(11,578	)		6,746			—			6,085
CASH FLOWS FROM FINANCING ACTIVITIES:
Other		3,624			—			(22,000	)		—			(18,376	)
Net cash provided by (used in) financing activities		3,624			—			(22,000	)		—			(18,376	)
Increase (decrease) in cash and cash equivalents		(5,857	)		1,452			2,524			—			(1,881	)
Cash and cash equivalents, beginning of period		80,971			(3,452	)		2,828			—			80,347
Cash and cash equivalents, end of period	$	75,114		$	(2,000	)	$	5,352		$	—		$	78,466

	Predecessor Period from January 1 to February 26, 2010
(In thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations			Total
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	50,802		$	(217	)	$	(879	)	$	1,096		$	50,802
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation		1,205			4,164			1,342			—			6,711
Amortization – deferred financing costs		690			—			4			—			694
Amortization – other intangible assets		31			614			176			—			821
Reorganization items		(59,334	)		—			23			—			(59,311	)
Payments on reorganization items		(12,164	)		—			—			—			(12,164	)
Paid-in-kind interest		1,769			—			—			—			1,769
Loss (gain) on disposal of assets		2			—			1			—			3
Equity in earnings of subsidiaries and affiliates		1,096			—			—			(1,096	)		—
Deferred income taxes		(1,957	)		—			397			—			(1,560	)
Change in other operating items		(625	)		(5,356	)		(2,557	)		—			(8,538	)
Net cash used in operating activities		(18,485	)		(795	)		(1,493	)		—			(20,773	)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment		(60	)		(1,338	)		(59	)		—			(1,457	)
Other		(600	)		45			—			—			(555	)
Net cash used in investing activities		(660	)		(1,293	)		(59	)		—			(2,012	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from debt issuance		46,611			—			—			—			46,611
Net cash provided by financing activities		46,611			—			—			—			46,611
Increase (decrease) in cash and cash equivalents		27,466			(2,088	)		(1,552	)		—			23,826
Cash and cash equivalents, beginning of year		53,505			(1,364	)		4,380			—			56,521
Cash and cash equivalents, end of period	$	80,971		$	(3,452	)	$	2,828		$	—		$	80,347