GUARANTOR AND NON-GUARANTOR CONDENSED CONSOLIDATING FINANCIAL STATEMENTS (Tables)

9 Months Ended

Sep. 30, 2013

Condensed Consolidating Balance Sheet

September 30, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Assets
Current assets:
Cash and cash equivalents	$	41,025		$	14,329		$	19,631		$	—		$	74,985
Accounts receivable, net	100,152			282,914			25,256			—			408,322
Inventories	27,249			9,453			3			—			36,705
Prepaid expenses and other (including intercompany)	1,971,516			5,232,562			3,085			(7,158,157		)	49,006
Total current assets	2,139,942			5,539,258			47,975			(7,158,157		)	569,018
Property, plant and equipment, net	19,014			89,854			958			—			109,826
Goodwill	23,700			601,750			6,988			—			632,438
Other intangible assets, net	11,517			192,467			—			—			203,984
Investments	717,055			19,912			—			(732,964		)	4,003
Intercompany note receivable (payable)	326,622			(314,292		)	(12,330		)	—			—
Other assets	6,392			3,029			12			—			9,433
Total assets	$	3,244,242		$	6,131,978		$	43,603		$	(7,891,121	)	$	1,528,702

Liabilities and Stockholders’ Equity
Current liabilities:
Current portion, long-term debt	$	33,750		$	—		$	—		$	—		$	33,750
Accounts payable and intercompany payable	2,132,824			5,271,181			18,296			(7,158,157		)	264,144
Progress billings	13,128			15,065			9,891			—			38,084
Accrued expenses	52,508			35,842			7,992			—			96,342
Total current liabilities	2,232,210			5,322,088			36,179			(7,158,157		)	432,320
Long-term debt	502,650			—			—			—			502,650
Deferred income taxes	(3,421		)	65,398			(4,009		)	—			57,968
Other non-current liabilities	15,041			31,020			(8,059		)	—			38,002
Total liabilities	2,746,480			5,418,506			24,111			(7,158,157		)	1,030,940
Stockholders’ equity	497,762			713,472			19,492			(732,964		)	497,762
Total liabilities and stockholders’ equity	$	3,244,242		$	6,131,978		$	43,603		$	(7,891,121	)	$	1,528,702

Condensed Consolidating Balance Sheet

December 31, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Assets
Current assets:
Cash and cash equivalents	$	62,836		$	10,745		$	21,130		$	—		$	94,711
Accounts receivable, net	116,821			287,230			22,848			—			426,899
Inventories	35,421			7,829			3			—			43,253
Prepaid expenses and other (including intercompany)	1,520,526			3,706,682			1,998			(5,192,617		)	36,589
Total current assets	1,735,604			4,012,486			45,979			(5,192,617		)	601,452
Property, plant and equipment, net	19,159			105,667			1,006			—			125,832
Goodwill	23,699			601,750			6,989			—			632,438
Other intangible assets, net	11,534			203,637			—			—			215,171
Investments	645,411			15,375			—			(658,355		)	2,431
Intercompany note receivable (payable)	364,921			(360,830		)	(4,091		)	—			—
Other assets	7,543			4,157			11			—			11,711
Total assets	$	2,807,871		$	4,582,242		$	49,894		$	(5,850,972	)	$	1,589,035

Liabilities and Stockholders’ Equity
Current liabilities:
Current portion, long-term debt	$	22,500		$	—		$	—		$	—		$	22,500
Accounts payable and intercompany payable	1,653,928			3,804,209			15,800			(5,192,617		)	281,320
Progress billings	16,459			7,758			15,378			—			39,595
Accrued expenses	61,741			38,878			6,848			—			107,467
Total current liabilities	1,754,628			3,850,845			38,026			(5,192,617		)	450,882
Long-term debt	565,061			—			—			—			565,061
Deferred income taxes	(4,131		)	65,398			(4,009		)	—			57,258
Other non-current liabilities	18,750			22,722			799			—			42,271
Total liabilities	2,334,308			3,938,965			34,816			(5,192,617		)	1,115,472
Stockholders’ equity	473,563			643,277			15,078			(658,355		)	473,563
Total liabilities and stockholders’ equity	$	2,807,871		$	4,582,242		$	49,894		$	(5,850,972	)	$	1,589,035

Condensed consolidating statement of comprehensive income

Condensed Consolidating Statement of Comprehensive Income

Nine Months Ended September 30, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	515,716		$	1,332,741		$	44,754		$	(310,566	)	$	1,582,645
Costs and expenses:
Cost of sales	435,750			864,353			34,637			(153,835		)	1,180,905
Selling, general and administrative	76,842			305,097			9,290			(156,731		)	234,498
Amortization expense	17			9,540			—			—			9,557
Goodwill impairment	3,985			3,600			—			—			7,585
Total costs and expenses	516,594			1,182,590			43,927			(310,566		)	1,432,545
Earnings (loss) from operations	(878		)	150,151			827			—			150,100
Other expenses and income:
Interest expense	21,372			—			—			—			21,372
Interest income	(80		)	3			(97		)	—			(174		)
Intercompany interest	(19,817		)	19,770			47			—			—
Other expenses (income), net	34			(526		)	(33		)	—			(525		)
Total other expenses (income), net	1,509			19,247			(83		)	—			20,673
Earnings (loss) before income taxes	(2,387		)	130,904			910			—			129,427
Income tax expense (benefit)	(6,016		)	49,540			1,035			—			44,559
Equity in net earnings of subsidiaries	81,239			3,475			—			(84,714		)	—
Net earnings (loss)	$	84,868		$	84,839		$	(125	)	$	(84,714	)	$	84,868
Other comprehensive income (loss)	(435		)	750			750			(1,500		)	(435		)
Comprehensive income	$	84,433		$	85,589		$	625		$	(86,214	)	$	84,433

Condensed Consolidating Statement of Comprehensive Income

Nine Months Ended September 30, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	399,108		$	1,342,934		$	46,112		$	(320,362	)	$	1,467,792
Costs and expenses:
Cost of sales	312,523			909,324			33,065			(168,264		)	1,086,648
Selling, general and administrative	73,578			296,882			10,270			(152,098		)	228,632
Amortization expense	17			11,170			—			—			11,187
Total costs and expenses	386,118			1,217,376			43,335			(320,362		)	1,326,467
Earnings from operations	12,990			125,558			2,777			—			141,325
Other expenses and income:
Interest expense	22,464			—			—			—			22,464
Interest income	(70		)	—			(68		)	—			(138		)
Intercompany interest	(20,315		)	20,315			—			—			—
Other income, net	(874		)	(1,459		)	(303		)	—			(2,636		)
Total other expenses (income), net	1,205			18,856			(371		)	—			19,690
Earnings before income taxes	11,785			106,702			3,148			—			121,635
Income tax expense	2,220			42,582			665						45,467
Equity in net earnings of subsidiaries	66,603			2,483						(69,086		)	—
Net earnings	$	76,168		$	66,603		$	2,483		$	(69,086	)	$	76,168
Other comprehensive income	222			929			929			(1,858		)	222
Comprehensive income	$	76,390		$	67,532		$	3,412		$	(70,944	)	$	76,390

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended September 30, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	172,888		$	445,063	$	12,868		$	(106,997	)	$	523,822
Costs and expenses:
Cost of sales	145,467			286,533		9,093			(52,809		)	388,284
Selling, general and administrative	23,033			101,614		2,899			(54,188		)	73,358
Amortization expense	6			3,239		—			—			3,245
Total costs and expenses	168,506			391,386		11,992			(106,997		)	464,887
Earnings from operations	4,382			53,677		876			—			58,935
Other expenses and income:
Interest expense	7,563			—		—			—			7,563
Interest income	(20		)	3		(29		)	—			(46		)
Intercompany interest	(9,062		)	9,062		—			—			—
Other expenses, net	49			197		3			—			249
Total other expenses (income), net	(1,470		)	9,262		(26		)	—			7,766
Earnings before income taxes	5,852			44,415		902			—			51,169
Income tax expense (benefit)	(3,429		)	17,632		226			—			14,429
Equity in net earnings of subsidiaries	27,459			4,276		—			(31,735		)	—
Net earnings	$	36,740		$	31,059	$	676		$	(31,735	)	$	36,740
Other comprehensive income (loss)	(9		)	197		197			(394		)	(9		)
Comprehensive income	$	36,731		$	31,256	$	873		$	(32,129	)	$	36,731

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended September 30, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Consolidated Total
Revenues	$	126,994		$	453,902		$	13,813		$	(105,326	)	$	489,383
Costs and expenses:
Cost of sales	100,190			308,615			9,893			(57,361		)	361,337
Selling, general and administrative	23,682			95,278			3,582			(47,965		)	74,577
Amortization expense	6			3,723			—			—			3,729
Total costs and expenses	123,878			407,616			13,475			(105,326		)	439,643
Earnings from operations	3,116			46,286			338			—			49,740
Other expenses and income:
Interest expense	7,287			—			—			—			7,287
Interest income	(18		)	—			(12		)	—			(30		)
Intercompany interest	(9,082		)	9,082			—			—			—
Other income, net	(816		)	(835		)	(62		)	—			(1,713		)
Total other expenses (income), net	(2,629		)	8,247			(74		)	—			5,544
Earnings before income taxes	5,745			38,039			412			—			44,196
Income tax expense	684			15,557			242			—			16,483
Equity in net earnings of subsidiaries	22,652			170			—			(22,822		)	—
Net earnings	$	27,713		$	22,652		$	170		$	(22,822	)	$	27,713
Other comprehensive income (loss)	907			(707		)	(707		)	1,414			907
Comprehensive income (loss)	$	28,620		$	21,945		$	(537	)	$	(21,408	)	$	28,620

Condensed consolidating statement of cash flows

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2012

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Total
Net cash provided by (used in) operating activities	$	153,569		$	(40,611	)	$	(1,764	)	$	—	$	111,194
Cash flows from investing activities:
Additions to property, plant and equipment	(4,472		)	(11,100		)	(211		)	—		(15,783		)
Digital acquisitions, net of cash acquired	—			(18,344		)	—			—		(18,344		)
Proceeds from sale of property, plant and equipment	250			—			6			—		256
Net cash used in investing activities	(4,222		)	(29,444		)	(205		)	—		(33,871		)
Cash flows from financing activities:
Cash provided by (used in) intercompany activity	(70,042		)	70,042			—			—		—
Repayments of long-term debt	(11,250		)	—			—			—		(11,250		)
Repurchases of common stock	(87,130		)	—			—			—		(87,130		)
Proceeds from stock option exercises	8,956			—			—			—		8,956
Net cash provided by (used in) financing activities	(159,466		)	70,042			—			—		(89,424		)
Effect of exchange rate changes on cash and cash equivalents	—			—			474			—		474
Net decrease in cash and cash equivalents	(10,119		)	(13		)	(1,495		)	—		(11,627		)
Cash and cash equivalents at beginning of period	68,887			7,543			25,541			—		101,971
Cash and cash equivalents at end of period	$	58,768		$	7,530		$	24,046		$	—	$	90,344

Condensed Consolidating Statement of Cash Flows

Nine Months Ended September 30, 2013

(in thousands of U.S. dollars)



	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Consolidated Total
Net cash provided by (used in) operating activities	$	11,300		$	95,666		$	(1,145	)	$	—	$	105,821
Cash flows from investing activities:
Additions to property, plant and equipment	(1,744		)	(12,715		)	(287		)	—		(14,746		)
Proceeds from sale of property, plant and equipment	79			5,200			9			—		5,288
Net cash used in investing activities	(1,665		)	(7,515		)	(278		)	—		(9,458		)
Cash flows from financing activities:
Cash provided by (used in) intercompany activity	84,567			(84,567		)	—			—		—
Repayments of long-term debt	(51,161		)	—			—			—		(51,161		)
Dividends paid on common shares and restricted stock	(35,732		)	—			—			—		(35,732		)
Repurchases of common stock	(60,325		)	—			—			—		(60,325		)
Proceeds from stock options exercises	31,205			—			—			—		31,205
Net cash used in financing activities	(31,446		)	(84,567		)	—			—		(116,013		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(76		)	—		(76		)
Net increase (decrease) in cash and cash equivalents	(21,811		)	3,584			(1,499		)	—		(19,726		)
Cash and cash equivalents at beginning of period	62,836			10,745			21,130			—		94,711
Cash and cash equivalents at end of period	$	41,025		$	14,329		$	19,631		$	—	$	74,985