Supplemental Guarantor Information

9 Months Ended

Oct. 02, 2011

Supplemental Guarantor Information [Abstract]

Supplemental Guarantor Information

Note 13: Supplemental Guarantor Information

As of October 2, 2011, Belden Inc. (the Issuer) has outstanding $550.0 million aggregate principal amount of senior subordinated notes. The notes rank equal in right of payment with any of our future senior subordinated debt. The notes are subordinated to all of our senior debt and the senior debt of our subsidiary guarantors, including our Senior Secured Facility. Belden Inc. and certain of its subsidiaries have fully and unconditionally guaranteed the notes on a joint and several basis. In addition, effective April 25, 2011, in connection with the refinancing of our Senior Secured Facility, the guarantor subsidiaries of the notes have been revised. The financial position, results of operations, and cash flows of the guarantor subsidiaries are not material and are combined with the Issuer in the following consolidating financial information. The following consolidating financial information presents information about the Issuer and non-guarantor subsidiaries. Investments in subsidiaries are accounted for on the equity basis. Intercompany transactions are eliminated.

Supplemental Condensed Consolidating Balance Sheets

	October 2, 2011
	Issuer			Non- Guarantor Subsidiaries		Eliminations			Total
	(Unaudited) (In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	72,858		$	275,332	$	—		$	348,190
Receivables, net		141,702			207,545		—			349,247
Inventories, net		108,578			88,522		—			197,100
Deferred income taxes		7,745			1,914		—			9,659
Other current assets		9,773			12,074		—			21,847
Total current assets		340,656			585,387		—			926,043
Property, plant and equipment, less accumulated depreciation		124,694			159,298		—			283,992
Goodwill		220,842			132,005		—			352,847
Intangible assets, less accumulated amortization		66,582			89,814		—			156,396
Deferred income taxes		7,249			13,748		—			20,997
Other long-lived assets		13,863			56,514		—			70,377
Investment in subsidiaries		1,303,682			—		(1,303,682	)		—
	$	2,077,568		$	1,036,766	$	(1,303,682	)	$	1,810,652
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	98,804		$	135,185	$	—		$	233,989
Accrued liabilities		77,265			89,264		—			166,529
Total current liabilities		176,069			224,449		—			400,518
Long-term debt		550,955			—		—			550,955
Postretirement benefits		30,670			86,256		—			116,926
Other long-term liabilities		22,227			10,312		—			32,539
Intercompany accounts		(39,565	)		39,565		—			—
Total stockholders’ equity		1,337,212			676,184		(1,303,682	)		709,714
	$	2,077,568		$	1,036,766	$	(1,303,682	)	$	1,810,652

	December 31, 2010
	Issuer			Non- Guarantor Subsidiaries		Eliminations			Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	173,699		$	184,954	$	—		$	358,653
Receivables, net		117,303			180,963		—			298,266
Inventories, net		109,127			66,532		—			175,659
Deferred income taxes		5,590			3,883		—			9,473
Other current assets		10,199			8,605		—			18,804
Total current assets		415,918			444,937		—			860,855
Property, plant and equipment, less accumulated depreciation		120,857			158,009		—			278,866
Goodwill		258,094			64,462		—			322,556
Intangible assets, less accumulated amortization		93,695			50,125		—			143,820
Deferred income taxes		9,342			18,223		—			27,565
Other long-lived assets		12,771			50,051		—			62,822
Investment in subsidiaries		1,227,959			—		(1,227,959)			—
	$	2,138,636		$	785,807	$	(1,227,959	)	$	1,696,484
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	92,996		$	119,088	$	—		$	212,084
Accrued liabilities		78,013			67,827		—			145,840
Total current liabilities		171,009			186,915		—			357,924
Long-term debt		551,155			—		—			551,155
Postretirement benefits		27,949			84,477		—			112,426
Other long-term liabilities		30,047			6,417		—			36,464
Intercompany accounts		(249,051	)		249,051		—			—
Total stockholders’ equity		1,607,527			258,947		(1,227,959	)		638,515
	$	2,138,636		$	785,807	$	(1,227,959	)	$	1,696,484

Supplemental Condensed Consolidating Statements of Operations (Unaudited)

	Three Months Ended October 2, 2011
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	270,679		$	316,087		$	(67,053	)	$	519,713
Cost of sales		(207,466	)		(226,549	)		67,053			(366,962	)
Gross profit		63,213			89,538			—			152,751
Selling, general and administrative expenses		(46,932	)		(38,423	)		—			(85,355	)
Research and development		(2,486	)		(11,155	)		—			(13,641	)
Amortization of intangibles		(820	)		(2,551	)		—			(3,371	)
Income from equity method investment		—			1,479			—			1,479
Operating income		12,975			38,888			—			51,863
Interest expense		(11,662	)		(28	)		—			(11,690	)
Interest income		12			199			—			211
Intercompany income (expense)		9,622			(9,622	)		—			—
Income (loss) from equity investment in subsidiaries		22,936			—			(22,936	)		—
Income (loss) from continuing operations before taxes		33,883			29,437			(22,936	)		40,384
Income tax expense		(2,518	)		(6,501	)		—			(9,019	)
Income (loss) from continuing operations		31,365			22,936			(22,936	)		31,365
Loss from discontinued operations, net of tax		(162	)		—			—			(162	)
Net income (loss)	$	31,203		$	22,936		$	(22,936	)	$	31,203

	Three Months Ended October 3, 2010
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	242,794		$	193,624		$	(39,491	)	$	396,927
Cost of sales		(168,201	)		(150,033	)		39,491			(278,743	)
Gross profit		74,593			43,591			—			118,184
Selling, general and administrative expenses		(42,272	)		(23,892	)		—			(66,164	)
Research and development		(3,315	)		(7,572	)		—			(10,887	)
Amortization of intangibles		(727	)		(1,873	)		—			(2,600	)
Income from equity method investment		—			3,053			—			3,053
Operating income		28,279			13,307			—			41,586
Interest expense		(11,451	)		(327	)		—			(11,778	)
Interest income		45			35			—			80
Intercompany income (expense)		(514	)		514			—			—
Income (loss) from equity investment in subsidiaries		10,658			—			(10,658	)		—
Income (loss) from continuing operations before taxes		27,017			13,529			(10,658	)		29,888
Income tax expense		(4,373	)		(2,871	)		—			(7,244	)
Income (loss) from continuing operations		22,644			10,658			(10,658	)		22,644
Loss from discontinued operations, net of tax		(2,039	)		—			—			(2,039	)
Net income (loss)	$	20,605		$	10,658		$	(10,658	)	$	20,605

	Nine Months Ended October 2, 2011
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	792,028		$	887,652		$	(162,088	)	$	1,517,592
Cost of sales		(596,368	)		(643,492	)		162,088			(1,077,772	)
Gross profit		195,660			244,160			—			439,820
Selling, general and administrative expenses		(130,750	)		(113,921	)		—			(244,671	)
Research and development		(8,136	)		(33,664	)		—			(41,800	)
Amortization of intangibles		(2,460	)		(7,937	)		—			(10,397	)
Income from equity method investment		—			9,196			—			9,196
Operating income		54,314			97,834			—			152,148
Interest expense		(35,606	)		(640	)		—			(36,246	)
Interest income		84			442			—			526
Intercompany income (expense)		(5,064	)		5,064			—			—
Income (loss) from equity investment in subsidiaries		78,589			—			(78,589	)		—
Income (loss) from continuing operations before taxes		92,317			102,700			(78,589	)		116,428
Income tax expense		(4,053	)		(24,111	)		—			(28,164	)
Income (loss) from continuing operations		88,264			78,589			(78,589	)		88,264
Loss from discontinued operations, net of tax		(446	)		—			—			(446	)
Net income (loss)	$	87,818		$	78,589		$	(78,589	)	$	87,818

	Nine Months Ended October 3, 2010
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
				(In thousands)
Revenues	$	639,496		$	667,123		$	(114,705	)	$	1,191,914
Cost of sales		(452,287	)		(508,434	)		114,705			(846,016	)
Gross profit		187,209			158,689			—			345,898
Selling, general and administrative expenses		(117,205	)		(86,101	)		—			(203,306	)
Research and development		(8,601	)		(22,505	)		—			(31,106	)
Amortization of intangibles		(2,193	)		(5,707	)		—			(7,900	)
Income from equity method investment		—			8,905			—			8,905
Operating income		59,210			53,281			—			112,491
Interest expense		(38,676	)		(234	)		—			(38,910	)
Interest income		124			274			—			398
Other income		—			1,465			—			1,465
Intercompany income (expense)		(820	)		820			—			—
Income (loss) from equity investment in subsidiaries		42,936			—			(42,936	)		—
Income (loss) from continuing operations before taxes		62,774			55,606			(42,936	)		75,444
Income tax expense		(4,215	)		(12,670	)		—			(16,885	)
Income (loss) from continuing operations		58,559			42,936			(42,936	)		58,559
Loss from discontinued operations, net of tax		(6,535	)		—			—			(6,535	)
Net income (loss)	$	52,024		$	42,936		$	(42,936	)	$	52,024

Supplemental Condensed Consolidating Statements of Cash Flows (Unaudited)

	Nine Months Ended October 2, 2011
	Issuer			Non- Guarantor Subsidiaries			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	(911	)	$	100,373		$	99,462
Cash flows from investing activities:
Cash used to acquire businesses, net of cash acquired		(59,708	)		—			(59,708	)
Capital expenditures		(12,327	)		(9,433	)		(21,760	)
Proceeds from disposal of tangible assets		1,135			71			1,206
Net cash used for investing activities		(70,900	)		(9,362	)		(80,262	)
Cash flows from financing activities:
Payments under share repurchase program		(25,000	)		—			(25,000	)
Cash dividends paid		(7,090	)		—			(7,090	)
Debt issuance costs		(3,296	)		—			(3,296	)
Tax benefit related to share-based compensation		1,802			—			1,802
Proceeds from exercise of stock options		4,554			—			4,554
Net cash used for financing activities		(29,030	)		—			(29,030	)
Effect of currency exchange rate changes on cash and cash equivalents		—			(633	)		(633	)
Increase (decrease) in cash and cash equivalents		(100,841	)		90,378			(10,463	)
Cash and cash equivalents, beginning of period		173,699			184,954			358,653
Cash and cash equivalents, end of period	$	72,858		$	275,332		$	348,190

	Nine Months Ended October 3, 2010
	Issuer			Non- Guarantor Subsidiaries			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	106,459		$	(51,048	)	$	55,411
Cash flows from investing activities:
Capital expenditures		(10,142	)		(9,056	)		(19,198	)
Proceeds from disposal of tangible assets		2,314			18			2,332
Cash provided by other investing activities		163			—			163
Net cash used for investing activities		(7,665	)		(9,038	)		(16,703	)
Cash flows from financing activities:
Payments under borrowing arrangements		(46,268	)		—			(46,268	)
Cash dividends paid		(7,052	)		—			(7,052	)
Tax deficiency related to share-based compensation		(239	)		—			(239	)
Proceeds from exercise of stock options		720			—			720
Cash received upon termination of derivative instruments		4,217			—			4,217
Net cash used for financing activities		(48,622	)		—			(48,622	)
Effect of currency exchange rate changes on cash and cash equivalents		—			(2,884	)		(2,884	)
Increase (decrease) in cash and cash equivalents		50,172			(62,970	)		(12,798	)
Cash and cash equivalents, beginning of period		58,855			250,024			308,879
Cash and cash equivalents, end of period	$	109,027		$	187,054		$	296,081