Condensed Consolidating Financial Statements (Tables)

3 Months Ended

9 Months Ended

Dec. 31, 2014

Dec. 31, 2014

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet (1)

March 31, 2014

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	616	$	22,200	$	35,113	$	—		$	57,929
Accounts receivable, net	—		49,462		49,485		—			98,947
Intercompany receivable	318,582		329,211		203,018		(850,811		)	—
Inventories, net	—		119,340		68,634		—			187,974
Prepaid expenses and other	3,146		15,286		21,380		(2,941		)	36,871
Deferred income taxes	—		1,022		5,673		—			6,695
Current assets of discontinued operations	—		—		12,160		—			12,160
Total current assets	322,344		536,521		395,463		(853,752		)	400,576
Property and equipment, net	329		104,874		187,445		—			292,648
Goodwill	—		35,584		—		—			35,584
Intangible assets, net	—		28,380		8,804		—			37,184
Investment in NEC TOKIN	—		46,419		—		—			46,419
Investments in subsidiaries	402,090		424,386		30,285		(856,761		)	—
Restricted cash	—		13,512		—		—			13,512
Deferred income taxes	—		1,010		5,768		—			6,778
Other assets	5,415		3,895		820		—			10,130
Non-current assets of discontinued operations	—		—		836		—			836
Long-term intercompany receivable	81,746		60,663		2,801		(145,210		)	—
Total assets	$	811,924	$	1,255,244	$	632,222	$	(1,855,723	)	$	843,667
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	5,988	$	—	$	1,309	$	—		$	7,297
Accounts payable	84		36,579		38,155		—			74,818
Intercompany payable	176,624		570,535		103,652		(850,811		)	—
Accrued expenses	34,236		13,698		28,534		—			76,468
Income taxes payable and deferred income taxes	—		2,909		1,012		(2,941		)	980
Current liabilities of discontinued operations	—		—		7,269		—			7,269
Total current liabilities	216,932		623,721		179,931		(853,752		)	166,832
Long-term debt, less current portion	372,251		6,449		12,592		—			391,292
Other non-current obligations	857		3,311		51,696		—			55,864
Deferred income taxes	—		3,258		1,945		—			5,203
Non-current liabilities of discontinued operations	—		—		2,592		—			2,592
Long-term intercompany payable	—		81,747		63,463		(145,210		)	—
Stockholders’ equity	221,884		536,758		320,003		(856,761		)	221,884
Total liabilities and stockholders’ equity	$	811,924	$	1,255,244	$	632,222	$	(1,855,723	)	$	843,667

(1) Derived from audited financial statements.

Condensed Consolidating Balance Sheet

December 31, 2014

(Unaudited)

	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	640	$	29,936	$	25,006	$	—		$	55,582
Accounts receivable, net	—		38,148		54,337		—			92,485
Intercompany receivable	320,682		413,279		202,659		(936,620		)	—
Inventories, net	—		127,906		59,708		—			187,614
Prepaid expenses and other	3,146		15,684		22,947		(2,941		)	38,836
Deferred income taxes	—		2,314		4,381		—			6,695
Total current assets	324,468		627,267		369,038		(939,561		)	381,212
Property and equipment, net	305		100,025		164,638		—			264,968
Goodwill	—		35,584		—		—			35,584
Intangible assets, net	—		27,343		7,252		—			34,595
Investment in NEC TOKIN	—		52,168		—		—			52,168
Investments in subsidiaries	434,413		423,462		31,135		(889,010		)	—
Restricted cash	—		2,003		—		—			2,003
Deferred income taxes	—		948		5,743		—			6,691
Other assets	4,419		17,167		937		—			22,523
Long-term intercompany receivable	71,982		56,574		2,800		(131,356		)	—
Total assets	$	835,587	$	1,342,541	$	581,543	$	(1,959,927	)	$	799,744
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	—	$	7,000	$	5,521	$	—		$	12,521
Accounts payable	26		29,555		32,551		—			62,132
Intercompany payable	246,916		596,366		93,338		(936,620		)	—
Accrued expenses	15,103		16,348		27,160		—			58,611
Income taxes payable and deferred income taxes	—		2,934		403		(2,941		)	396
Total current liabilities	262,045		652,203		158,973		(939,561		)	133,660
Long-term debt, less current portion	357,634		22,448		12,000		—			392,082
Other non-current obligations	—		2,894		47,069		—			49,963
Deferred income taxes	—		4,548		3,583		—			8,131
Long-term intercompany payable	—		71,982		59,374		(131,356		)	—
Stockholders’ equity	215,908		588,466		300,544		(889,010		)	215,908
Total liabilities and stockholders’ equity	$	835,587	$	1,342,541	$	581,543	$	(1,959,927	)	$	799,744

Condensed Consolidating Statement of Operations

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	85		$	242,498		$	188,122		$	(229,395	)	$	201,310
Operating costs and expenses:
Cost of sales	687			192,305			179,437			(215,587		)	156,842
Selling, general and administrative expenses	7,193			18,562			11,427			(13,808		)	23,374
Research and development	149			4,321			1,833			—			6,303
Restructuring charges	—			1,133			4,930			—			6,063
Net (gain) loss on sales and disposals of assets	—			(144		)	(430		)	—			(574		)
Total operating costs and expenses	8,029			216,177			197,197			(229,395		)	192,008
Operating income (loss)	(7,944		)	26,321			(9,075		)	—			9,302
Interest income	—			—			(5		)	—			(5		)
Interest expense	9,631			39			268			—			9,938
Other (income) expense, net	(7,373		)	5,935			(2,263		)	—			(3,701		)
Equity in earnings of subsidiaries	(13,116		)	—			—			13,116			—
Income (loss) from continuing operations before income taxes and equity income (loss) from NEC TOKIN	2,914			20,347			(7,075		)	(13,116		)	3,070
Income tax expense	—			57			1,302			—			1,359
Income (loss) from continuing operations before equity income from NEC TOKIN	2,914			20,290			(8,377		)	(13,116		)	1,711
Equity income (loss) from NEC TOKIN	—			1,367			—			—			1,367
Income (loss) from continuing operations	2,914			21,657			(8,377		)	(13,116		)	3,078
Income (loss) from discontinued operations	—			(2		)	(162		)	—			(164		)
Net income (loss)	$	2,914		$	21,655		$	(8,539	)	$	(13,116	)	$	2,914

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	195		$	748,094		$	588,324		$	(707,129	)	$	629,484
Operating costs and expenses:
Cost of sales	1,712			626,305			540,184			(661,897		)	506,304
Selling, general and administrative expenses	31,338			50,785			36,772			(45,232		)	73,663
Research and development	355			12,918			5,957			—			19,230
Restructuring charges	—			1,695			7,885			—			9,580
Net gain (loss) on sales and disposals of assets	(9		)	86			(836		)	—			(759		)
Total operating costs and expenses	33,396			691,789			589,962			(707,129		)	608,018
Operating income (loss)	(33,201		)	56,305			(1,638		)	—			21,466
Non-operating (income) expense:
Interest income	—			—			(11		)	—			(11		)
Interest expense	29,156			702			823			—			30,681
Non-operating (income) expense, net	(31,175		)	22,734			(6,388		)	—			(14,829		)
Equity in earnings of subsidiaries	(36,886		)	—			—			36,886			—
Income (loss) from continuing operations before income taxes and equity income (loss) from NEC TOKIN	5,704			32,869			3,938			(36,886		)	5,625
Income tax expense	—			290			4,934			—			5,224
Income (loss) from continuing operations before equity income (loss) from NEC TOKIN	5,704			32,579			(996		)	(36,886		)	401
Equity income (loss) from NEC TOKIN	—			(76		)	—			—			(76		)
Income (loss) from continuing operations	5,704			32,503			(996		)	(36,886		)	325
Income (loss) from discontinued operations	—			102			5,277			—			5,379
Net income (loss)	$	5,704		$	32,605		$	4,281		$	(36,886	)	$	5,704

Condensed Consolidating Statement of Operations

For the Quarter Ended December 31, 2013

(Unaudited)

	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	88		$	242,149	$	203,486		$	(238,384	)	$	207,339
Operating costs and expenses:
Cost of sales	376			212,086		181,109			(223,894		)	169,677
Selling, general and administrative expenses	10,276			15,195		11,450			(14,490		)	22,431
Research and development	31			4,072		1,924			—			6,027
Restructuring charges	—			254		1,940			—			2,194
Write down of long-lived assets	—			—		3,358			—			3,358
Net (gain) loss on sales and disposals of assets	—			45		(16		)	—			29
Total operating costs and expenses	10,683			231,652		199,765			(238,384		)	203,716
Operating income (loss)	(10,595		)	10,497		3,721			—			3,623
Non-operating (income) expense:
Interest income	—			—		(7		)	—			(7		)
Interest expense	9,977			302		70			—			10,349
Other (income) expense, net	(10,165		)	7,778		1,036			—			(1,351		)
Equity in earnings of subsidiaries	(4,587		)	—		—			4,587			—
Income (loss) from continuing operations before income taxes	(5,820		)	2,417		2,622			(4,587		)	(5,368		)
Income tax expense	—			53		980			—			1,033
Income (loss) from continuing operations before equity loss from NEC TOKIN	(5,820		)	2,364		1,642			(4,587		)	(6,401		)
Equity income (loss) from NEC TOKIN	—			1,657		—			—			1,657
Income (loss) from continuing operations	(5,820		)	4,021		1,642			(4,587		)	(4,744		)
Income (loss) from discontinued operations	—			—		(1,076		)	—			(1,076		)
Net income (loss)	$	(5,820	)	$	4,021	$	566		$	(4,587	)	$	(5,820	)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	173		$	725,721		$	619,977		$	(728,026	)	$	617,845
Operating costs and expenses:
Cost of sales	1,093			662,619			554,805			(687,794		)	530,723
Selling, general and administrative expenses	30,830			43,755			36,473			(40,232		)	70,826
Research and development	174			12,138			5,391			—			17,703
Restructuring charges	—			2,634			5,534			—			8,168
Write down of long-lived assets	—			—			3,358			—			3,358
Net (gain) loss on sales and disposals of assets	—			63			8			—			71
Total operating costs and expenses	32,097			721,209			605,569			(728,026		)	630,849
Operating income (loss)	(31,924		)	4,512			14,408			—			(13,004		)
Non-operating (income) expense:
Interest income	(12		)	(3		)	(167		)	—			(182		)
Interest expense	30,171			780			(660		)	—			30,291
Other (income) expense, net	(30,139		)	28,223			1,866			—			(50		)
Equity in earnings of subsidiaries	22,111			—			—			(22,111		)	—
Income (loss) from continuing operations before income taxes	(54,055		)	(24,488		)	13,369			22,111			(43,063		)
Income tax expense (benefit)	—			142			4,151			—			4,293
Income (loss) from continuing operations before equity income (loss) from NEC TOKIN	(54,055		)	(24,630		)	9,218			22,111			(47,356		)
Equity income (loss) from NEC TOKIN	—			(2,963		)	—			—			(2,963		)
Income (loss) from continuing operations	(54,055		)	(27,593		)	9,218			22,111			(50,319		)
Income (loss) from discontinued operations	—			—			(3,737		)	—			(3,737		)
Net income (loss)	$	(54,055	)	$	(27,593	)	$	5,481		$	22,111		$	(54,056	)

Condensed Statement of Comprehensive Income [Table Text Block]

Comprehensive income (loss) $ 293 $ 24,794 $ (12,135 ) $ (13,116 ) $ (164 )

Condensed Consolidating Statements of Comprehensive Income (Loss)

For the Quarter Ended December 31, 2013

(Unaudited)

Comprehensive income (loss) $ (4,122 ) $ 4,686 $ 3,220 $ (4,587 ) $ (803 )

Comprehensive income (loss) $ (4,061 ) $ 40,644 $ (8,320 ) $ (36,886 ) $ (8,623 )

Comprehensive income (loss) $ (48,211 ) $ (30,289 ) $ 14,971 $ 22,111 $ (41,418 )

Condensed Consolidating Statement of Cash Flows

Condensed

Consolidating Statement of Cash Flows

For the Nine Month Period Ended December 31, 2014

(Unaudited)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash provided by (used in) operating activities	$	31,316		$	(18,502	)	$	(16,084	)	$	—	$	(3,270	)
Investing activities:
Capital expenditures	—			(9,542		)	(7,932		)	—		(17,474		)
Change in restricted cash	—			11,509			—			—		11,509
Proceeds from sale of assets	—			2,274			2,266			—		4,540
Proceeds from sale of discontinued operations	—			—			9,564			—		9,564
Net cash used in investing activities	—			4,241			3,898			—		8,139
Financing activities:
Proceeds from revolving line credit	—			37,340			5,000			—		42,340
Payments of revolving line credit	—			(14,342		)	—			—		(14,342		)
Deferred acquisition payments	(10,899		)	(1,000		)	—			—		(11,899		)
Payments of long-term debt	(20,417		)	—			(1,316		)	—		(21,733		)
Proceeds from exercise of stock options	24			—			—			—		24
Net cash provided by (used in) financing activities	(31,292		)	21,998			3,684			—		(5,610		)
Net increase (decrease) in cash and cash equivalents	24			7,737			(8,502		)	—		(741		)
Effect of foreign currency fluctuations on cash	—			(1		)	(1,605		)	—		(1,606		)
Cash and cash equivalents at beginning of fiscal period	616			22,200			35,113			—		57,929
Cash and cash equivalents at end of fiscal period	$	640		$	29,936		$	25,006		$	—	$	55,582

Condensed Consolidating Statements of Cash Flows

For the Nine Month Period Ended December 31, 2013

(Unaudited)

	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Reclassifications and Eliminations		Consolidated
Sources (uses) of cash and cash equivalents
Net cash provided by (used in) operating activities	$	(3,339	)	$	(30,386	)	$	7,413		$	—	$	(26,312	)
Investing activities:
Capital expenditures	—			(10,955		)	(14,038		)	—		(24,993		)
Change in restricted cash	—			3,532						—		3,532
Net cash used in investing activities	—			(7,423		)	(14,038		)	—		(21,461		)
Financing activities:
Proceeds from revolving line credit	—			9,000			12,000			—		21,000
Deferred acquisition payments	(10,703		)	(1,000		)	—			—		(11,703		)
Payments of long-term debt	(2,841		)	(17		)	—			—		(2,858		)
Proceeds from exercise of stock options	86			—			—			—		86
Net cash provided by (used in) financing activities	(13,458		)	7,983			12,000			—		6,525
Net increase (decrease) in cash and cash equivalents	(16,797		)	(29,826		)	5,375			—		(41,248		)
Effect of foreign currency fluctuations on cash	—			(672		)	1,536			—		864
Cash and cash equivalents at beginning of fiscal period	17,202			52,056			26,720			—		95,978
Cash and cash equivalents at end of fiscal period	$	405		$	21,558		$	33,631		$	—	$	55,594