Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2017



CONDENSED CONSOLIDATING BALANCE SHEETS
As of December 31, 2016
(in thousands)
							Consolidating
					Non-		Entries and
	Parent		Guarantors		Guarantors		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	636	$	10,974	$	—		$	11,610
Accounts receivable - affiliates	51,592		3,624		19,643		(74,859		)	—
Accounts receivable - trade	—		7,518		73,050		—			80,568
Inventories	—		44,563		111,548		—			156,111
Prepaid and other current assets	1,350		4,853		15,462		—			21,665
Current assets of discontinued operations	—		51,160		14,296		(4,477		)	60,979
Total current assets	52,942		112,354		244,973		(79,336		)	330,933

Investment in affiliates	844,379		601,597		—		(1,445,976		)	—
Property, plant and equipment	—		191,503		317,352		—			508,855
Deferred income taxes	—		—		19,803		—			19,803
Goodwill	—		70,399		100,718		—			171,117
Notes receivable - affiliate	—		49,003		—		(49,003		)	—
Other assets	—		70,767		70,801		—			141,568
Total Assets	$	897,321	$	1,095,623	$	753,647	$	(1,574,315	)	$	1,172,276

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	806	$	71,243	$	2,810	$	(74,859	)	$	—
Accounts payable - trade	964		8,033		38,666		—			47,663
Short-term debt	—		3,062		5,790		—			8,852
Accrued income and other taxes	—		2,095		3,161		—			5,256
Other accrued liabilities	2,444		12,205		15,945		—			30,594
Short-term liabilities of discontinued operations	—		20,381		4,138		(4,477		)	20,042
Total current liabilities	4,214		117,019		70,510		(79,336		)	112,407

Long-term debt - affiliate	41,590		—		7,413		(49,003		)	—
Long-term debt - third party	274,132		81,695		753		—			356,580
Other long-term obligations	—		50,943		31,205		—			82,148
Deferred income taxes	—		909		41,997		—			42,906
Long-term liabilities of discontinued operations	—		678		172		—			850
Stockholders' equity	577,385		844,379		601,597		(1,445,976		)	577,385
Total Liabilities and Stockholders' Equity	$	897,321	$	1,095,623	$	753,647	$	(1,574,315	)	$	1,172,276



CONDENSED CONSOLIDATING BALANCE SHEETS
As of June 30, 2017
(in thousands)
								Consolidating
					Non-			Entries and
	Parent		Guarantors		Guarantors			Eliminations				Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	811	$	11,119		$	—			$	11,930
Accounts receivable - affiliates	51,592		14,331		9,484			(75,407		)		—
Accounts receivable - trade	—		9,705		72,292			—				81,997
Inventories	—		45,037		119,387							164,424
Prepaid and other current assets	554		5,786		18,005			—				24,345
Current assets of discontinued operations	—		32,839		11,840			(2,063		)		42,616
Total current assets	52,146		108,509		242,127			(77,470		)		325,312

Investment in affiliates	828,394		581,431		—			(1,409,825		)		—
Property, plant and equipment	—		183,901		322,847			—				506,748
Deferred income taxes	—		—		19,340			—				19,340
Goodwill	—		70,399		100,718			—				171,117
Notes receivable - affiliate			60,101		—			(60,101		)		—
Other assets	—		64,577		62,179			—				126,756
Total Assets	$	880,540	$	1,068,918	$	747,211		$	(1,547,396	)		$	1,149,273

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	814	$	61,074	$	13,519		$	(75,407	)		$	—
Accounts payable - trade	—		7,701		39,552			—				47,253
Short-term debt	—		7,863		144			—				8,007
Accrued income and other taxes	—		1,405		6,134			—				7,539
Other accrued liabilities	2,444		7,986		16,849			—				27,279
Liabilities of discontinued operations	—		14,622		3,609			(2,063		)		16,168
Total current liabilities	3,258		100,651		79,807			(77,470		)		106,246

Long-term debt - affiliate	52,688		—		7,413			(60,101		)		—
Long-term debt - third party	277,341		89,778		837			—				367,956
Other long-term obligations	—		48,151		32,989			—				81,140
Deferred income taxes	—		1,158		44,549			—				45,707
Long-term liabilities of discontinued operations	—		786		185		—	—			—	971
Stockholders' equity	547,253		828,394		581,431			(1,409,825		)		547,253
Total Liabilities and Stockholders' Equity	$	880,540	$	1,068,918	$	747,211		$	(1,547,396	)		$	1,149,273

Condensed Income Statement



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three months ended June 30, 2016
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	38,238		$	16,081		$	(54,319	)		$	—
Sales - third party	—			21,824			93,541			—				115,365
Net sales	—			60,062			109,622			(54,319		)		115,365
Cost of sales	—			43,760			130,825			(54,319		)		120,266
Additions to lower cost or market inventory reserve	—			1,761			1,743			—				3,504
Gross profit (loss)	—			14,541			(22,946		)	—				(8,405		)

Research and development	—			786			—			—				786
Selling and administrative expenses	—			3,716			9,707			—				13,423
Operating income (loss)	—			10,039			(32,653		)	—				(22,614		)

Other expense (income), net	—			472			(1,670		)	—				(1,198		)
Interest expense - affiliate	236			—			—			(236		)		—
Interest expense - third party	6,353			13			70			—				6,436
Interest income - affiliate	—			(236		)	—			236				—
Income (Loss) from continuing operations before provision for income taxes	(6,589		)	9,790			(31,053		)	—			`	(27,852		)

Provision for income taxes	—			238			(5,829		)	—				(5,591		)
Equity in loss from continuing operations of subsidiary	(15,672		)	(25,224		)	—			40,896				—
Net loss from continuing operations	(22,261		)	(15,672		)	(25,224		)	40,896				(22,261		)

Loss from discontinued operations, net of tax	—			(103,752		)	(2,386		)	—				(106,138		)
Equity in loss from discontinued operations of subsidiary	(106,138		)	(2,386		)	—			108,524				—
Net loss from discontinued operations	(106,138		)	(106,138		)	(2,386		)	108,524				(106,138		)

Net loss	$	(128,399	)	$	(121,810	)	$	(27,610	)	$	149,420			$	(128,399	)


Statements of Comprehensive Income (Loss)

Net loss	$	(128,399	)	$	(121,810	)	$	(27,610	)	$	149,420			$	(128,399	)
Other comprehensive income	(936		)	(936		)	(936		)	1,872				(936		)
Comprehensive loss	$	(129,335	)	$	(122,746	)	$	(28,546	)	$	151,292			$	(129,335	)



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three months ended June 30, 2017
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	21,453		$	12,623		$	(34,076	)		$	—
Sales - third party	—			22,482			93,832			—				116,314
Net sales	—			43,935			106,455			(34,076		)		116,314
Cost of sales	—			45,314			95,185			(34,076		)		106,423
Additions to lower of cost or market inventory reserve	—			209			3			—				212
Gross (loss) profit	—			(1,588		)	11,267			—				9,679

Research and development	—			943			—			—				943
Selling and administrative expenses	—			3,970			8,225			—				12,195
Operating (loss) income	—			(6,501		)	3,042			—				(3,459		)

Other expense (income), net	(1		)	221			966			—				1,186
Interest expense - affiliate	788			—			—			(788		)		—
Interest expense - third party	6,391			1,423			88			—				7,902
Interest income - affiliate	—			(788		)	—			788				—
Interest income - third party	—			—			(139		)	—				(139		)
(Loss) income from continuing operations before provision for income taxes	(7,178		)	(7,357		)	2,127			—			`	(12,408		)

Provision for income taxes	—			123			802			—				925
Equity in loss from continuing operations of subsidiary	(6,155		)	1,325			—			4,830				—
Net (loss) income from continuing operations	(13,333		)	(6,155		)	1,325			4,830				(13,333		)

Income (loss) income from discontinued operations, net of tax	77			(3,638		)	(489		)	—				(4,050		)
Equity in loss from discontinued operations of subsidiary	(4,127		)	(489		)	—			4,616				—
Net loss from discontinued operations	(4,050		)	(4,127		)	(489		)	4,616				(4,050		)

Net (loss) income	$	(17,383	)	$	(10,282	)	$	836		$	9,446			$	(17,383	)


Statements of Comprehensive Income (Loss)

Net (loss) income	$	(17,383	)	$	(10,282	)	$	836		$	9,446			$	(17,383	)
Other comprehensive income	8,755			8,755			8,755			(17,510		)		8,755
Comprehensive (loss) income	$	(8,628	)	$	(1,527	)	$	9,591		$	(8,064	)		$	(8,628	)



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2016
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	79,137		$	35,724		$	(114,861	)		$	—
Sales - third party	—			42,644			168,297			—				210,941
Net sales	—			121,781			204,021			(114,861		)		210,941
Cost of sales	—			105,414			227,143			(114,861		)		217,696
Additions to lower cost or market inventory reserve	—			3,782			10,843			—				14,625
Gross profit (loss)	—			12,585			(33,965		)	—				(21,380		)

Research and development	—			1,438			—			—				1,438
Selling and administrative expenses	—			9,789			17,426			—				27,215
Operating (loss) income	—			1,358			(51,391		)	—				(50,033		)

Other expense (income), net	6			742			(1,708		)	—				(960		)
Interest expense - affiliate	434			—			—			(434		)		—
Interest expense - third party	12,697			54			145			—				12,896
Interest income - affiliate	—			(434		)	—			434				—
Interest income - third party	—			—			(12		)	—				(12		)
Income (Loss) from continuing operations before provision for income taxes	(13,137		)	996			(49,816		)	—			`	(61,957		)

Provision for income taxes	—			255			(6,141		)	—				(5,886		)
Equity in loss from continuing operations of subsidiary	(42,934		)	(43,675		)	—			86,609				—
Net loss from continuing operations	(56,071		)	(42,934		)	(43,675		)	86,609				(56,071		)

Loss from discontinued operations, net of tax	—			(105,330		)	(3,372		)	—				(108,702		)
Equity in loss from discontinued operations of subsidiary	(108,702		)	(3,372		)	—			112,074				—
Net loss from discontinued operations	(108,702		)	(108,702		)	(3,372		)	112,074				(108,702		)

Net loss	$	(164,773	)	$	(151,636	)	$	(47,047	)	$	198,683			$	(164,773	)


Statements of Comprehensive Income (Loss)

Net loss	$	(164,773	)	$	(151,636	)	$	(47,047	)	$	198,683			$	(164,773	)
Other comprehensive income	11,701			11,701			11,701			(23,402		)		11,701
Comprehensive loss	$	(153,072	)	$	(139,935	)	$	(35,346	)	$	175,281			$	(153,072	)



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Six Months Ended June 30, 2017
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	46,797		$	24,708		$	(71,505	)		$	—
Sales - third party	—			44,363			176,690			—				221,053
Net sales	—			91,160			201,398			(71,505		)		221,053
Cost of sales	—			91,784			188,501			(71,505		)		208,780
Additions to lower of cost or market inventory reserve	—			934			575			—				1,509
Gross (loss) profit	—			(1,558		)	12,322			—				10,764

Research and development	—			1,772			—			—				1,772
Selling and administrative expenses	—			7,269			16,609			—				23,878
Operating loss	—			(10,599		)	(4,287		)	—				(14,886		)

Other expense (income), net	6			436			3,811			—				4,253
Interest expense - affiliate	1,447			—			—			(1,447		)		—
Interest expense - third party	12,771			2,475			202			—				15,448
Interest income - affiliate	—			(1,447		)	—			1,447				—
Interest income - third party	—			—			(262		)	—				(262		)
Loss from continuing operations before provision for income taxes	(14,224		)	(12,063		)	(8,038		)	—			`	(34,325		)

Provision for income taxes	—			254			1,032			—				1,286
Equity in loss from continuing operations of subsidiary	(21,387		)	(9,070		)	—			30,457				—
Net loss from continuing operations	(35,611		)	(21,387		)	(9,070		)	30,457				(35,611		)

Income (loss) from discontinued operations, net of tax	77			(7,780		)	(413		)	—				(8,116		)
Equity in loss from discontinued operations of subsidiary	(8,193		)	(413		)	—			8,606				—
Net loss from discontinued operations	(8,116		)	(8,193		)	(413		)	8,606				(8,116		)

Net loss	$	(43,727	)	$	(29,580	)	$	(9,483	)	$	39,063			$	(43,727	)


Statements of Comprehensive Income (Loss)

Net loss	$	(43,727	)	$	(29,580	)	$	(9,483	)	$	39,063			$	(43,727	)
Other comprehensive income	13,595			13,595			13,595			(27,190		)		13,595
Comprehensive (loss) income	$	(30,132	)	$	(15,985	)	$	4,112		$	11,873			$	(30,132	)

Condensed Cash Flow Statement



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30, 2016
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities:	$	(9,568	)	$	14,014		$	6,739		$	—		$	11,185

Cash flow from investing activities:
(Loans to) repayments from affiliates	—			(9,568		)	—			9,568			—
Capital expenditures	—			(4,825		)	(10,315		)	—			(15,140		)
Other	—			—			(721		)	—			(721		)
Proceeds from sale of fixed assets	—			458			99			—			557
Net cash (used in) provided by investing activities	—			(13,935		)	(10,937		)	9,568			(15,304		)

Cash flow from financing activities:
Loans from (Repayments to) affiliates	9,568			—			—			(9,568		)	—
Short-term debt, net	—			6,002			5,002			—			11,004
Revolving Facility borrowings	—			27,000			5,000			—			32,000
Revolving Facility reductions	—			(32,000		)	—			—			(32,000		)
Principal payments on long term debt	—			(69		)	—			—			(69		)
Revolver facility refinancing	—			(922		)	—			—			(922		)
Net cash provided by (used in) financing activities	9,568			11			10,002			(9,568		)	10,013

Net change in cash and cash equivalents	—			90			5,804			—			5,894
Effect of exchange rate changes on cash and cash equivalents	—			—			588			—			588
Cash and cash equivalents at beginning of period	—			646			6,281			—			6,927
Cash and cash equivalents at end of period	$	—		$	736		$	12,673		$	—		$	13,409



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30, 2017
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities:	$	(9,659	)	$	(1,514	)	$	39,265		$	(24,619	)	$	3,473

Cash flow from investing activities:
Loans to affiliates	—			(9,659		)	—			9,659			—
Capital expenditures	—			(1,497		)	(11,948		)	—			(13,445		)
Proceeds from sale of assets	—			114			3,042			—			3,156
Net cash (used in) provided by investing activities	—			(11,042		)	(8,906		)	9,659			(10,289		)

Cash flow from financing activities:
Loans from affiliates	9,659			—			—			(9,659		)	—
Dividends to affiliates	—			—			(24,619		)	24,619			—
Short-term debt, net	—			802			(5,658		)	—			(4,856		)
Revolving Facility borrowings	—			30,000			—			—			30,000
Revolving Facility reductions	—			(18,000		)	—			—			(18,000		)
Principal payments on long term debt	—			(71		)	—			—			(71		)
Net cash provided by (used in) financing activities	9,659			12,731			(30,277		)	14,960			7,073

Net change in cash and cash equivalents	—			175			82			—			257
Effect of exchange rate changes on cash and cash equivalents	—			—			63			—			63
Cash and cash equivalents at beginning of period	—			636			10,974			—			11,610
Cash and cash equivalents at end of period	$	—		$	811		$	11,119		$	—		$	11,930