XML 52 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Financial Information for Subsidiary and Guarantor Parent (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure | Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets March 31, 2014
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 9.5 |  |  | $ | 13.0 |  |  | $ | 815.2 |  |  | $ | — |  |  | $ | 837.7 |
Accounts receivable, net | 0.5 |  |  | 196.8 |  |  | 360.2 |  |  | — |  |  | 557.5 |
Intercompany notes receivable | — |  |  | — |  |  | 1,781.3 |  |  | (1,781.3 | ) |  | — |
Inventories, net | — |  |  | 353.8 |  |  | 1,054.7 |  |  | — |  |  | 1,408.5 |
Prepaid expenses and other current assets | 38.7 |  |  | 9.9 |  |  | 38.3 |  |  | — |  |  | 86.9 |
Current assets of discontinued operations | — |  |  | — |  |  | 5.1 |  |  | — |  |  | 5.1 |
Total current assets | 48.7 |  |  | 573.5 |  |  | 4,054.8 |  |  | (1,781.3 | ) |  | 2,895.7 |
Property, plant and equipment, net | 2.6 |  |  | 1,430.8 |  |  | 1,455.9 |  |  | — |  |  | 2,889.3 |
Cost in excess of net assets acquired | — |  |  | 126.6 |  |  | 648.9 |  |  | — |  |  | 775.5 |
Intercompany notes receivable | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investment in subsidiaries | 6,208.8 |  |  | 37.7 |  |  | — |  |  | (6,246.5 | ) |  | — |
Other assets | 31.1 |  |  | 30.2 |  |  | 292.3 |  |  | — |  |  | 353.6 |
Non-current assets of discontinued operations | — |  |  | — |  |  | 3.4 |  |  | — |  |  | 3.4 |
Total assets | $ | 6,291.2 |  |  | $ | 2,198.8 |  |  | $ | 6,655.3 |  |  | $ | (8,227.8 | ) |  | $ | 6,917.5 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 4.5 |  |  | $ | 315.3 |  |  | $ | 198.4 |  |  | $ | — |  |  | $ | 518.2 |
Accrued liabilities | 45.2 |  |  | 59.4 |  |  | 190.3 |  |  | — |  |  | 294.9 |
Intercompany notes payable | 895.8 |  |  | 885.5 |  |  | — |  |  | (1,781.3 | ) |  | — |
Deferred income taxes | 15.7 |  |  | — |  |  | — |  |  | — |  |  | 15.7 |
Short-term debt and current portion of long-term debt | 403.0 |  |  | 0.1 |  |  | 16.9 |  |  | — |  |  | 420.0 |
Current liabilities of discontinued operations | — |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |
Total current liabilities | 1,364.2 |  |  | 1,260.3 |  |  | 410.5 |  |  | (1,781.3 | ) |  | 1,253.7 |
Long-term debt | 1,350.7 |  |  | 150.4 |  |  | 25.7 |  |  | — |  |  | 1,526.8 |
Intercompany notes payable | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits | — |  |  | 176.1 |  |  | 256.6 |  |  | — |  |  | 432.7 |
Pension liabilities | 317.0 |  |  | 5.5 |  |  | 39.3 |  |  | — |  |  | 361.8 |
Deferred income taxes | 214.6 |  |  | — |  |  | — |  |  | — |  |  | 214.6 |
Other long-term liabilities | 77.6 |  |  | 19.3 |  |  | 51.7 |  |  | — |  |  | 148.6 |
Total liabilities | 3,324.1 |  |  | 1,811.6 |  |  | 783.8 |  |  | (1,981.3 | ) |  | 3,938.2 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 12.2 |  |  | — |  |  | 12.2 |
Total stockholders’ equity | 2,967.1 |  |  | 387.2 |  |  | 5,859.3 |  |  | (6,246.5 | ) |  | 2,967.1 |
Total liabilities and stockholders’ equity | $ | 6,291.2 |  |  | $ | 2,198.8 |  |  | $ | 6,655.3 |  |  | $ | (8,227.8 | ) |  | $ | 6,917.5 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended March 31, 2014
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 427.9 |  |  | $ | 559.4 |  |  | $ | — |  |  | $ | 987.3 |
Cost of sales | 12.3 |  |  | 439.6 |  |  | 465.2 |  |  | — |  |  | 917.1 |
Selling and administrative expenses | 27.1 |  |  | 10.1 |  |  | 30.5 |  |  | — |  |  | 67.7 |
Income (loss) before interest, other income and income taxes | (39.4 | ) |  | (21.8 | ) |  | 63.7 |  |  | — |  |  | 2.5 |
Interest income (expense), net | (28.5 | ) |  | (10.6 | ) |  | 10.0 |  |  | — |  |  | (29.1 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | 41.9 |  |  | 0.3 |  |  | 0.6 |  |  | (42.2 | ) |  | 0.6 |
Income (loss) from continuing operations before income tax provision (benefit) | (26.0 | ) |  | (32.1 | ) |  | 74.3 |  |  | (42.2 | ) |  | (26.0 | )
Income tax provision (benefit) | (10.0 | ) |  | (11.3 | ) |  | 26.4 |  |  | (15.1 | ) |  | (10.0 | )
Income (loss) from continuing operations | (16.0 | ) |  | (20.8 | ) |  | 47.9 |  |  | (27.1 | ) |  | (16.0 | )
Income (loss) from discontinued operations, net of tax | (1.9 | ) |  | — |  |  | (1.9 | ) |  | 1.9 |  |  | (1.9 | )
Net income (loss) | (17.9 | ) |  | (20.8 | ) |  | 46.0 |  |  | (25.2 | ) |  | (17.9 | )
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 2.1 |  |  | — |  |  | 2.1 |
Net income (loss) attributable to ATI | $ | (17.9 | ) |  | $ | (20.8 | ) |  | $ | 43.9 |  |  | $ | (25.2 | ) |  | $ | (20.0 | )
Comprehensive income (loss) attributable to ATI | $ | (0.8 | ) |  | $ | (18.8 | ) |  | $ | 42.5 |  |  | $ | (23.9 | ) |  | $ | (1.0 | )
Condensed Statements of Cash Flows For the three months ended March 31, 2014
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (29.7 | ) |  | $ | (125.6 | ) |  | $ | 98.4 |  |  | $ | — |  |  | $ | (56.9 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (26.3 | ) |  | (13.3 | ) |  | — |  |  | (39.6 | )
Purchase of business, net of cash acquired | — |  |  | — |  |  | (71.1 | ) |  | — |  |  | (71.1 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (208.9 | ) |  | 208.9 |  |  | — |
Asset disposals and other | — |  |  | 1.4 |  |  | 0.4 |  |  | — |  |  | 1.8 |
Cash flows provided by (used in) investing activities | — |  |  | (24.9 | ) |  | (292.9 | ) |  | 208.9 |  |  | (108.9 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Net receipts/(payments) on intercompany activity | 58.9 |  |  | 150.0 |  |  | — |  |  | (208.9 | ) |  | — |
Dividends paid to stockholders | (19.3 | ) |  | — |  |  | — |  |  | — |  |  | (19.3 | )
Other | (4.0 | ) |  | — |  |  | — |  |  | — |  |  | (4.0 | )
Cash flows provided by (used in) financing activities | 35.6 |  |  | 150.0 |  |  | — |  |  | (208.9 | ) |  | (23.3 | )
Increase (decrease) in cash and cash equivalents | $ | 5.9 |  |  | $ | (0.5 | ) |  | $ | (194.5 | ) |  | $ | — |  |  | $ | (189.1 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2013
| Guarantor |  |  |  | Non-guarantor |  |  |  |
(In millions) | Parent |  | Subsidiary |  | Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 3.6 |  |  | $ | 13.5 |  |  | $ | 1,009.7 |  |  | $ | — |  |  | $ | 1,026.8 |
Accounts receivable, net | 0.3 |  |  | 179.4 |  |  | 348.5 |  |  | — |  |  | 528.2 |
Intercompany notes receivable | — |  |  | — |  |  | 1,589.4 |  |  | (1,589.4 | ) |  | — |
Inventories, net | — |  |  | 295.5 |  |  | 1,026.6 |  |  | — |  |  | 1,322.1 |
Prepaid expenses and other current assets | 26.2 |  |  | 6.5 |  |  | 34.9 |  |  | — |  |  | 67.6 |
Current assets of discontinued operations | — |  |  | — |  |  | 6.1 |  |  | — |  |  | 6.1 |
Total current assets | 30.1 |  |  | 494.9 |  |  | 4,015.2 |  |  | (1,589.4 | ) |  | 2,950.8 |
Property, plant and equipment, net | 2.9 |  |  | 1,397.5 |  |  | 1,473.7 |  |  | — |  |  | 2,874.1 |
Cost in excess of net assets acquired | — |  |  | 112.1 |  |  | 615.8 |  |  | — |  |  | 727.9 |
Intercompany notes receivable | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investment in subsidiaries | 6,170.8 |  |  | 37.7 |  |  | — |  |  | (6,208.5 | ) |  | — |
Other assets | 35.7 |  |  | 32.0 |  |  | 274.3 |  |  | — |  |  | 342.0 |
Non-current assets of discontinued operations | — |  |  | — |  |  | 3.7 |  |  | — |  |  | 3.7 |
Total assets | $ | 6,239.5 |  |  | $ | 2,074.2 |  |  | $ | 6,582.7 |  |  | $ | (7,997.9 | ) |  | $ | 6,898.5 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 3.1 |  |  | $ | 310.5 |  |  | $ | 158.2 |  |  | $ | — |  |  | $ | 471.8 |
Accrued liabilities | 51.6 |  |  | 56.6 |  |  | 202.7 |  |  | — |  |  | 310.9 |
Intercompany notes payable | 825.6 |  |  | 763.8 |  |  | — |  |  | (1,589.4 | ) |  | — |
Deferred income taxes | 3.5 |  |  | — |  |  | — |  |  | — |  |  | 3.5 |
Short-term debt and current portion of long-term debt | 402.9 |  |  | 0.1 |  |  | 16.9 |  |  | — |  |  | 419.9 |
Current liabilities of discontinued operations | — |  |  | — |  |  | 4.9 |  |  | — |  |  | 4.9 |
Total current liabilities | 1,286.7 |  |  | 1,131.0 |  |  | 382.7 |  |  | (1,589.4 | ) |  | 1,211.0 |
Long-term debt | 1,350.8 |  |  | 150.4 |  |  | 26.2 |  |  | — |  |  | 1,527.4 |
Intercompany notes payable | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits | — |  |  | 179.7 |  |  | 262.7 |  |  | — |  |  | 442.4 |
Pension liabilities | 323.0 |  |  | 5.6 |  |  | 39.6 |  |  | — |  |  | 368.2 |
Deferred income taxes | 206.6 |  |  | — |  |  | — |  |  | — |  |  | 206.6 |
Other long-term liabilities | 77.7 |  |  | 20.2 |  |  | 50.3 |  |  | — |  |  | 148.2 |
Total liabilities | 3,244.8 |  |  | 1,686.9 |  |  | 761.5 |  |  | (1,789.4 | ) |  | 3,903.8 |
Total stockholders’ equity | 2,994.7 |  |  | 387.3 |  |  | 5,821.2 |  |  | (6,208.5 | ) |  | 2,994.7 |
Total liabilities and stockholders’ equity | $ | 6,239.5 |  |  | $ | 2,074.2 |  |  | $ | 6,582.7 |  |  | $ | (7,997.9 | ) |  | $ | 6,898.5 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations and Comprehensive Income For the three months ended March 31, 2013
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales | $ | — |  |  | $ | 477.1 |  |  | $ | 621.9 |  |  | $ | — |  |  | $ | 1,099.0 |
Cost of sales | 17.5 |  |  | 466.7 |  |  | 514.3 |  |  | — |  |  | 998.5 |
Selling and administrative expenses | 28.5 |  |  | 10.4 |  |  | 33.5 |  |  | — |  |  | 72.4 |
Income (loss) before interest, other income and income taxes | (46.0 | ) |  | — |  |  | 74.1 |  |  | — |  |  | 28.1 |
Interest expense, net | (11.7 | ) |  | (2.6 | ) |  | (0.1 | ) |  | — |  |  | (14.4 | )
Other income (loss) including equity in income of unconsolidated subsidiaries | 72.5 |  |  | (5.4 | ) |  | 9.2 |  |  | (75.2 | ) |  | 1.1 |
Income (loss) from continuing operations before income tax provision | 14.8 |  |  | (8.0 | ) |  | 83.2 |  |  | (75.2 | ) |  | 14.8 |
Income tax provision (benefit) | 3.5 |  |  | (2.5 | ) |  | 29.0 |  |  | (26.5 | ) |  | 3.5 |
Income (loss) from continuing operations | 11.3 |  |  | (5.5 | ) |  | 54.2 |  |  | (48.7 | ) |  | 11.3 |
Income (loss) from discontinued operations, net of tax | 0.3 |  |  | — |  |  | 0.3 |  |  | (0.3 | ) |  | 0.3 |
Net income (loss) | 11.6 |  |  | (5.5 | ) |  | 54.5 |  |  | (49.0 | ) |  | 11.6 |
Less: Net income attributable to noncontrolling interests | — |  |  | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
Net income (loss) attributable to ATI | $ | 11.6 |  |  | $ | (5.5 | ) |  | $ | 52.9 |  |  | $ | (49.0 | ) |  | $ | 10.0 |
Comprehensive income (loss) attributable to ATI | $ | 25.3 |  |  | $ | (5.4 | ) |  | $ | 40.0 |  |  | $ | (36.7 | ) |  | $ | 23.2 |
Condensed Statements of Cash Flows For the three months ended March 31, 2013
(In millions) | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities | $ | (25.7 | ) |  | $ | (95.4 | ) |  | $ | 63.7 |  |  | $ | — |  |  | $ | (57.4 | )
Investing Activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (75.0 | ) |  | (11.9 | ) |  | — |  |  | (86.9 | )
Net receipts/(payments) on intercompany activity | — |  |  | — |  |  | (213.1 | ) |  | 213.1 |  |  | — |
Asset disposals and other | — |  |  | 0.1 |  |  | 0.6 |  |  | — |  |  | 0.7 |
Cash flows provided by (used in) investing activities | — |  |  | (74.9 | ) |  | (224.4 | ) |  | 213.1 |  |  | (86.2 | )
Financing Activities: |  |  |  |  |  |  |  |  |
Net receipts/(payments) on intercompany activity | 47.4 |  |  | 165.7 |  |  | — |  |  | (213.1 | ) |  | — |
Dividends paid to stockholders | (19.2 | ) |  | — |  |  | — |  |  | — |  |  | (19.2 | )
Other | (3.7 | ) |  | — |  |  | (0.1 | ) |  | — |  |  | (3.8 | )
Cash flows provided by (used in) financing activities | 24.5 |  |  | 165.7 |  |  | (0.1 | ) |  | (213.1 | ) |  | (23.0 | )
Decrease in cash and cash equivalents | $ | (1.2 | ) |  | $ | (4.6 | ) |  | $ | (160.8 | ) |  | $ | — |  |  | $ | (166.6 | )

X
- Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration