Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

Consolidating Financial Information [Abstract]

Schedule Of Consolidating Statements Of Income And Comprehensive Income



NewMarket Corporation and Subsidiaries
Consolidating Statements of Income and Comprehensive Income
Three Months Ended March 31, 2013

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Consolidating Adjustments			Consolidated
Revenue:
Net sales - product	$	0		$	211,694		$	348,056		$	0		$	559,750
Rental revenue	0			2,858			0			0			2,858
	0			214,552			348,056			0			562,608
Costs:
Cost of goods sold - product	0			102,006			289,337			0			391,343
Cost of rental	0			1,068			0			0			1,068
	0			103,074			289,337			0			392,411
Gross profit	0			111,478			58,719			0			170,197
Selling, general, and administrative expenses	1,684			21,792			17,465			0			40,941
Research, development, and testing expenses	0			21,952			9,069			0			31,021
Operating (loss) profit	(1,684		)	67,734			32,185			0			98,235
Interest and financing expenses, net	4,810			(610		)	909			0			5,109
Other income (expense), net	700			3			44			0			747
(Loss) income before income taxes and equity income of subsidiaries	(5,794		)	68,347			31,320			0			93,873
Income tax (benefit) expense	(2,013		)	19,819			8,232			0			26,038
Equity income of subsidiaries	71,616			0			0			(71,616		)	0
Net income	67,835			48,528			23,088			(71,616		)	67,835
Other comprehensive (loss) income	(16,692		)	(3,514		)	(14,001		)	17,515			(16,692		)
Comprehensive income	$	51,143		$	45,014		$	9,087		$	(54,101	)	$	51,143



NewMarket Corporation and Subsidiaries
Consolidating Statements of Income and Comprehensive Income
Three Months Ended March 31, 2012

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Total Consolidating Adjustments			Consolidated
Revenue:
Net sales - product	$	0		$	225,709		$	334,112	$	0		$	559,821
Rental revenue	0			2,858			0		0			2,858
	0			228,567			334,112		0			562,679
Costs:
Cost of goods sold - product	0			99,176			292,899		0			392,075
Cost of rental	0			1,068			0		0			1,068
	0			100,244			292,899		0			393,143
Gross profit	0			128,323			41,213		0			169,536
Selling, general, and administrative expenses	1,450			27,819			7,639		0			36,908
Research, development, and testing expenses	0			21,120			6,775		0			27,895
Operating (loss) profit	(1,450		)	79,384			26,799		0			104,733
Interest and financing expenses, net	3,377			87			1,018		0			4,482
Loss on early extinguishment of debt	3,221			0			0		0			3,221
Other income (expense), net	1,744			(31		)	60		0			1,773
(Loss) income before income taxes and equity income of subsidiaries	(6,304		)	79,266			25,841		0			98,803
Income tax (benefit) expense	(2,584		)	29,124			5,716		0			32,256
Equity income of subsidiaries	70,267			0			0		(70,267		)	0
Net income	66,547			50,142			20,125		(70,267		)	66,547
Other comprehensive (loss) income	8,085			2,778			4,730		(7,508		)	8,085
Comprehensive income	$	74,632		$	52,920		$	24,855	$	(77,775	)	$	74,632

Schedule of Consolidating Balance Sheets



NewMarket Corporation and Subsidiaries
Consolidating Balance Sheets
March 31, 2013

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Consolidating Adjustments			Consolidated
ASSETS
Cash and cash equivalents	$	3		$	4,141		$	59,869		$	0		$	64,013
Trade and other accounts receivable, net	3,562			121,399			206,194			0			331,155
Amounts due from affiliated companies	21,824			78,413			16,809			(117,046		)	0
Inventories	0			124,731			196,608			0			321,339
Deferred income taxes	2,079			4,690			682			0			7,451
Prepaid expenses and other current assets	10,591			21,447			2,218			0			34,256
Total current assets	38,059			354,821			482,380			(117,046		)	758,214
Amounts due from affiliated companies	55,928			111,833			0			(167,761		)	0
Property, plant, and equipment, at cost	0			840,821			237,837			0			1,078,658
Less accumulated depreciation and amortization	0			584,102			133,962			0			718,064
Net property, plant, and equipment	0			256,719			103,875			0			360,594
Investment in consolidated subsidiaries	862,545			0			0			(862,545		)	0
Prepaid pension cost	0			0			12,800			0			12,800
Deferred income taxes	51,155			0			6,909			(4,104		)	53,960
Other assets and deferred charges	42,285			23,863			1,295			0			67,443
Intangibles (net of amortization) and goodwill	0			22,031			6,347			0			28,378
Total assets	$	1,049,972		$	769,267		$	613,606		$	(1,151,456	)	$	1,281,389
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	$	25		$	72,851		$	42,799		$	0		$	115,675
Accrued expenses	10,579			37,399			17,571			0			65,549
Dividends payable	10,282			0			0			0			10,282
Book overdraft	0			5,149			0			0			5,149
Amounts due to affiliated companies	45,626			46,097			25,323			(117,046		)	0
Long-term debt, current portion	0			0			5,193			0			5,193
Income taxes payable	4,955			5,789			14,550			0			25,294
Total current liabilities	71,467			167,285			105,436			(117,046		)	227,142
Long-term debt	425,422			0			0			0			425,422
Amounts due to affiliated companies	0			63,954			103,807			(167,761		)	0
Other noncurrent liabilities	134,514			41,706			38,140			(4,104		)	210,256
Total liabilities	631,403			272,945			247,383			(288,911		)	862,820
Shareholders' equity:
Common stock and paid-in capital	0			388,282			71,322			(459,604		)	0
Accumulated other comprehensive loss	(127,381		)	(22,281		)	(50,056		)	72,337			(127,381		)
Retained earnings	545,950			130,321			344,957			(475,278		)	545,950
Total shareholders' equity	418,569			496,322			366,223			(862,545		)	418,569
Total liabilities and shareholders' equity	$	1,049,972		$	769,267		$	613,606		$	(1,151,456	)	$	1,281,389



NewMarket Corporation and Subsidiaries
Consolidating Balance Sheets
December 31, 2012

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Consolidating Adjustments			Consolidated
ASSETS
Cash and cash equivalents	$	5,001		$	7,202		$	76,926		$	0		$	89,129
Trade and other accounts receivable, net	4,346			116,865			175,844			0			297,055
Amounts due from affiliated companies	0			142,277			33,282			(175,559		)	0
Inventories	0			125,171			197,503			0			322,674
Deferred income taxes	2,555			5,204			693			0			8,452
Prepaid expenses and other current assets	66			16,253			1,866			0			18,185
Total current assets	11,968			412,972			486,114			(175,559		)	735,495
Amounts due from affiliated companies	58,935			56,326			0			(115,261		)	0
Property, plant, and equipment, at cost	0			833,352			237,615			0			1,070,967
Less accumulated depreciation and amortization	0			578,183			134,413			0			712,596
Net property, plant, and equipment	0			255,169			103,202			0			358,371
Investment in consolidated subsidiaries	895,029			0			0			(895,029		)	0
Prepaid pension cost	0			0			12,710			0			12,710
Deferred income taxes	53,087			0			8,451			(6,415		)	55,123
Other assets and deferred charges	46,286			23,670			2,051			0			72,007
Intangibles (net of amortization) and goodwill	0			23,784			6,758			0			30,542
Total assets	$	1,065,305		$	771,921		$	619,286		$	(1,192,264	)	$	1,264,248
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	$	206		$	75,483		$	43,609		$	0		$	119,298
Accrued expenses	8,367			51,577			19,117			0			79,061
Book overdraft	0			3,906			0			0			3,906
Amounts due to affiliated companies	91,403			55,437			28,719			(175,559		)	0
Long-term debt, current portion	0			0			4,382			0			4,382
Income taxes payable	0			55			9,969			0			10,024
Total current liabilities	99,976			186,458			105,796			(175,559		)	216,671
Long-term debt	424,407			0			0			0			424,407
Amounts due to affiliated companies	0			8,024			107,237			(115,261		)	0
Other noncurrent liabilities	138,717			49,280			39,383			(6,415		)	220,965
Total liabilities	663,100			243,762			252,416			(297,235		)	862,043
Shareholders' equity:
Common stock and paid-in capital	721			388,282			71,322			(459,604		)	721
Accumulated other comprehensive loss	(110,689		)	(18,767		)	(36,055		)	54,822			(110,689		)
Retained earnings	512,173			158,644			331,603			(490,247		)	512,173
Total shareholders' equity	402,205			528,159			366,870			(895,029		)	402,205
Total liabilities and shareholders' equity	$	1,065,305		$	771,921		$	619,286		$	(1,192,264	)	$	1,264,248

Schedule Of Condensed Consolidating Statements Of Cash Flows



NewMarket Corporation and Subsidiaries
Condensed Consolidating Statements of Cash Flows
Three Months Ended March 31, 2013

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Consolidating Adjustments			Consolidated
Cash provided from (used in) operating activities	$	92,885		$	76,432		$	(174	)	$	(142,015	)	$	27,128
Cash flows from investing activities:
Capital expenditures	0			(8,383		)	(7,726		)	0			(16,109		)
Deposits for interest rate swap	(2,982		)	0			0			0			(2,982		)
Return of deposits for interest rate swap	6,850			0			0			0			6,850
Payments on settlement of interest rate swap	(2,617		)	0			0			0			(2,617		)
Receipts from settlement of interest rate swap	82			0			0			0			82
Cash provided from (used in) investing activities	1,333			(8,383		)	(7,726		)	0			(14,776		)
Cash flows from financing activities:
Net borrowings (repayments) under revolving credit facility	1,000			0			0			0			1,000
Net borrowings (repayments) under lines of credit	0			0			811			0			811
Dividends paid	(11,998		)	(86,585		)	(9,916		)	96,501			(11,998		)
Debt issuance costs	(1,115		)	0			0			0			(1,115		)
Repurchases of common stock	(22,508		)	0			0			0			(22,508		)
Issuance of intercompany note payable, net	0			(3,135		)	3,135			0			0
Repayment of intercompany note payable, net	3,006			(3,006		)	0			0			0
Financing from affiliated companies	(67,601		)	22,087			0			45,514			0
Cash provided from (used in) financing activities	(99,216		)	(70,639		)	(5,970		)	142,015			(33,810		)
Effect of foreign exchange on cash and cash equivalents	0			(471		)	(3,187		)	0			(3,658		)
(Decrease) increase in cash and cash equivalents	(4,998		)	(3,061		)	(17,057		)	0			(25,116		)
Cash and cash equivalents at beginning of year	5,001			7,202			76,926			0			89,129
Cash and cash equivalents at end of period	$	3		$	4,141		$	59,869		$	0		$	64,013



NewMarket Corporation and Subsidiaries
Condensed Consolidating Statements of Cash Flows
Three Months Ended March 31, 2012

(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Total Consolidating Adjustments			Consolidated
Cash provided from (used in) operating activities	$	(19,495	)	$	75,997		$	12,483		$	(5,895	)	$	63,090
Cash flows from investing activities:
Capital expenditures	0			(5,044		)	(2,388		)	0			(7,432		)
Deposits for interest rate swap	(5,079		)	0			0			0			(5,079		)
Return of deposits for interest rate swap	8,340			0			0			0			8,340
Payments on settlement of interest rate swap	(2,574		)	0			0			0			(2,574		)
Receipts from settlement of interest rate swap	100			0			0			0			100
Cash provided from (used in) investing activities	787			(5,044		)	(2,388		)	0			(6,645		)
Cash flows from financing activities:
Net borrowings (repayments) under revolving credit facility	(22,000		)	0			0			0			(22,000		)
Repayment of Foundry Park I mortgage loan	0			(715		)	0			0			(715		)
Net borrowings (repayments) under lines of credit	0			0			(223		)	0			(223		)
Dividends paid	(10,054		)	(38		)	(5,857		)	5,895			(10,054		)
Debt issuance costs	(2,351		)	0			0			0			(2,351		)
Financing from affiliated companies	53,113			(53,113		)	0			0			0
Cash provided from (used in) financing activities	18,708			(53,866		)	(6,080		)	5,895			(35,343		)
Effect of foreign exchange on cash and cash equivalents	0			555			719			0			1,274
(Decrease) increase in cash and cash equivalents	0			17,642			4,734			0			22,376
Cash and cash equivalents at beginning of year	17			9,653			40,700			0			50,370
Cash and cash equivalents at end of period	$	17		$	27,295		$	45,434		$	0		$	72,746