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v2.3.0.11

Condensed Consolidating Financial Information | 6 Months Ended
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Jun. 30, 2011
Notes to Financial Statements [Abstract] |
Condensed Consolidating Financial Information | Our 8.0% senior secured notes due 2014 and 7.5% senior unsecured notes due 2014 are guaranteed by each of our material existing and future domestic subsidiaries, except for Nordural US LLC. Each subsidiary guarantor is 100% owned by Century. All guarantees are full and unconditional; all guarantees are joint and several. These notes are not guaranteed by our foreign subsidiaries (such subsidiaries and Nordural US LLC, collectively the “Non-Guarantor Subsidiaries”). We allocate corporate expenses or income to our subsidiaries and charge interest on certain intercompany balances. The following summarized condensed consolidating balance sheets as of June 30, 2011 and December 31, 2010, condensed consolidating statements of operations for the three and six months ended June 30, 2011 and June 30, 2010 and the condensed consolidating statements of cash flows for the six months ended June 30, 2011 and June 30, 2010 present separate results for Century, the Guarantor Subsidiaries, the Non-Guarantor Subsidiaries, consolidating adjustments and total consolidated amounts. This summarized condensed consolidating financial information may not necessarily be indicative of the results of operations or financial position had Century, the Guarantor Subsidiaries or the Non-Guarantor subsidiaries operated as independent entities.
CONDENSED CONSOLIDATING BALANCE SHEET |
As of June 30, 2011 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 573 |  |  | $ | 193,658 |  |  | $ | 38,170 |  |  | $ | — |  |  | $ | 232,401 |
Accounts receivable — net |  |  | 37,934 |  |  |  | 16,904 |  |  |  | — |  |  |  | — |  |  |  | 54,838 |
Due from affiliates |  |  | 629,572 |  |  |  | 9,721 |  |  |  | 2,529,095 |  |  |  | (3,131,124 | ) |  |  | 37,264 |
Inventories |  |  | 121,632 |  |  |  | 65,756 |  |  |  | — |  |  |  | — |  |  |  | 187,388 |
Prepaid and other current assets |  |  | 5,790 |  |  |  | 48,936 |  |  |  | 3,925 |  |  |  | (12,500 | ) |  |  | 46,151 |
Total current assets |  |  | 795,501 |  |  |  | 334,975 |  |  |  | 2,571,190 |  |  |  | (3,143,624 | ) |  |  | 558,042 |
Investment in subsidiaries |  |  | 35,783 |  |  |  | — |  |  |  | (910,471 | ) |  |  | 874,688 |  |  |  | — |
Property, plant and equipment — net |  |  | 351,745 |  |  |  | 885,708 |  |  |  | 1,418 |  |  |  | (220 | ) |  |  | 1,238,651 |
Due from affiliates — less current portion |  |  | — |  |  |  | 3,094 |  |  |  | — |  |  |  | — |  |  |  | 3,094 |
Other assets |  |  | 22,132 |  |  |  | 38,430 |  |  |  | 39,493 |  |  |  | — |  |  |  | 100,055 |
Total |  | $ | 1,205,161 |  |  | $ | 1,262,207 |  |  | $ | 1,701,630 |  |  | $ | (2,269,156 | ) |  | $ | 1,899,842 |
Liabilities and shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, trade |  | $ | 38,030 |  |  | $ | 49,167 |  |  | $ | 398 |  |  | $ | — |  |  | $ | 87,595 |
Due to affiliates |  |  | 2,108,927 |  |  |  | 74,172 |  |  |  | 226,818 |  |  |  | (2,370,369 | ) |  |  | 39,548 |
Accrued and other current liabilities |  |  | 10,361 |  |  |  | 40,943 |  |  |  | 10,421 |  |  |  | (12,500 | ) |  |  | 49,225 |
Accrued employee benefits costs — current portion |  |  | 13,088 |  |  |  | — |  |  |  | 2,821 |  |  |  | — |  |  |  | 15,909 |
Industrial revenue bonds |  |  | 7,815 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,815 |
Total current liabilities |  |  | 2,178,221 |  |  |  | 164,282 |  |  |  | 240,458 |  |  |  | (2,382,869 | ) |  |  | 200,092 |
Senior notes payable |  |  | — |  |  |  | — |  |  |  | 249,011 |  |  |  | — |  |  |  | 249,011 |
Accrued pension benefit costs — less current portion |  |  | 16,238 |  |  |  | — |  |  |  | 22,280 |  |  |  | — |  |  |  | 38,518 |
Accrued postretirement benefit costs — less current portion |  |  | 102,315 |  |  |  | — |  |  |  | 4,403 |  |  |  | — |  |  |  | 106,718 |
Other liabilities/intercompany loan |  |  | 62,001 |  |  |  | 732,979 |  |  |  | 7,656 |  |  |  | (760,974 | ) |  |  | 41,662 |
Deferred taxes |  |  | — |  |  |  | 86,019 |  |  |  | — |  |  |  | — |  |  |  | 86,019 |
Total noncurrent liabilities |  |  | 180,554 |  |  |  | 818,998 |  |  |  | 283,350 |  |  |  | (760,974 | ) |  |  | 521,928 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Common stock |  |  | 60 |  |  |  | 12 |  |  |  | 932 |  |  |  | (72 | ) |  |  | 932 |
Additional paid-in capital |  |  | 297,300 |  |  |  | 144,383 |  |  |  | 2,506,435 |  |  |  | (441,683 | ) |  |  | 2,506,435 |
Accumulated other comprehensive income (loss) |  |  | (85,349 | ) |  |  | (1,297 | ) |  |  | (78,234 | ) |  |  | 86,646 |  |  |  | (78,234 | )
Retained earnings (accumulated deficit) |  |  | (1,365,625 | ) |  |  | 135,829 |  |  |  | (1,251,312 | ) |  |  | 1,229,796 |  |  |  | (1,251,312 | )
Total shareholders’ equity |  |  | (1,153,614 | ) |  |  | 278,927 |  |  |  | 1,177,822 |  |  |  | 874,687 |  |  |  | 1,177,822 |
Total |  | $ | 1,205,161 |  |  | $ | 1,262,207 |  |  | $ | 1,701,630 |  |  | $ | (2,269,156 | ) |  | $ | 1,899,842 |
CONDENSED CONSOLIDATING BALANCE SHEET |
As of December 31, 2010 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 214,923 |  |  | $ | 89,373 |  |  | $ | — |  |  | $ | 304,296 |
Restricted cash |  |  | 3,673 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,673 |
Accounts receivable — net |  |  | 31,779 |  |  |  | 12,124 |  |  |  | — |  |  |  | — |  |  |  | 43,903 |
Due from affiliates |  |  | 636,511 |  |  |  | 7,148 |  |  |  | 2,537,945 |  |  |  | (3,130,598 | ) |  |  | 51,006 |
Inventories |  |  | 97,422 |  |  |  | 58,486 |  |  |  | — |  |  |  | — |  |  |  | 155,908 |
Prepaid and other current assets |  |  | 3,687 |  |  |  | 39,453 |  |  |  | 2,152 |  |  |  | (27,000 | ) |  |  | 18,292 |
Total current assets |  |  | 773,072 |  |  |  | 332,134 |  |  |  | 2,629,470 |  |  |  | (3,157,598 | ) |  |  | 577,078 |
Investment in subsidiaries |  |  | 33,186 |  |  |  | — |  |  |  | (934,307 | ) |  |  | 901,121 |  |  |  | — |
Property, plant and equipment — net |  |  | 364,760 |  |  |  | 890,924 |  |  |  | 1,451 |  |  |  | (165 | ) |  |  | 1,256,970 |
Due from affiliates — less current portion |  |  | — |  |  |  | 6,054 |  |  |  | — |  |  |  | — |  |  |  | 6,054 |
Other assets |  |  | 22,197 |  |  |  | 36,735 |  |  |  | 24,022 |  |  |  | — |  |  |  | 82,954 |
Total |  | $ | 1,193,215 |  |  | $ | 1,265,847 |  |  | $ | 1,720,636 |  |  | $ | (2,256,642 | ) |  | $ | 1,923,056 |
Liabilities and shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable, trade |  | $ | 43,072 |  |  | $ | 44,629 |  |  | $ | 303 |  |  | $ | — |  |  | $ | 88,004 |
Due to affiliates |  |  | 2,094,293 |  |  |  | 70,580 |  |  |  | 222,245 |  |  |  | (2,341,737 | ) |  |  | 45,381 |
Accrued and other current liabilities |  |  | 9,187 |  |  |  | 44,932 |  |  |  | 14,376 |  |  |  | (27,000 | ) |  |  | 41,495 |
Accrued employee benefits costs — current portion |  |  | 23,592 |  |  |  | — |  |  |  | 3,090 |  |  |  | — |  |  |  | 26,682 |
Convertible senior notes |  |  | — |  |  |  | — |  |  |  | 45,483 |  |  |  | — |  |  |  | 45,483 |
Industrial revenue bonds |  |  | 7,815 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,815 |
Total current liabilities |  |  | 2,177,959 |  |  |  | 160,141 |  |  |  | 285,497 |  |  |  | (2,368,737 | ) |  |  | 254,860 |
Senior notes payable |  |  | — |  |  |  | — |  |  |  | 248,530 |  |  |  | — |  |  |  | 248,530 |
Accrued pension benefit costs — less current portion |  |  | 14,096 |  |  |  | — |  |  |  | 23,699 |  |  |  | — |  |  |  | 37,795 |
Accrued postretirement benefit costs — less current portion |  |  | 99,469 |  |  |  | — |  |  |  | 4,275 |  |  |  | — |  |  |  | 103,744 |
Other liabilities/intercompany loan |  |  | 61,488 |  |  |  | 756,208 |  |  |  | 4,119 |  |  |  | (784,203 | ) |  |  | 37,612 |
Deferred taxes — less current portion |  |  | — |  |  |  | 90,822 |  |  |  | — |  |  |  | (4,823 | ) |  |  | 85,999 |
Total noncurrent liabilities |  |  | 175,053 |  |  |  | 847,030 |  |  |  | 280,623 |  |  |  | (789,026 | ) |  |  | 513,680 |
Shareholders’ equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Preferred stock |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Common stock |  |  | 60 |  |  |  | 12 |  |  |  | 928 |  |  |  | (72 | ) |  |  | 928 |
Additional paid-in capital |  |  | 297,300 |  |  |  | 144,383 |  |  |  | 2,503,907 |  |  |  | (441,683 | ) |  |  | 2,503,907 |
Accumulated other comprehensive income (loss) |  |  | (60,220 | ) |  |  | (1,220 | ) |  |  | (49,976 | ) |  |  | 61,440 |  |  |  | (49,976 | )
Retained earnings (accumulated deficit) |  |  | (1,396,937 | ) |  |  | 115,501 |  |  |  | (1,300,344 | ) |  |  | 1,281,436 |  |  |  | (1,300,344 | )
Total shareholders’ equity |  |  | (1,159,797 | ) |  |  | 258,676 |  |  |  | 1,154,516 |  |  |  | 901,121 |  |  |  | 1,154,516 |
Total |  | $ | 1,193,215 |  |  | $ | 1,265,847 |  |  | $ | 1,720,636 |  |  | $ | (2,256,642 | ) |  | $ | 1,923,056 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the three months ended June 30, 2011 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party customers |  | $ | 143,052 |  |  | $ | 64,039 |  |  | $ | — |  |  | $ | — |  |  | $ | 207,091 |
Related parties |  |  | 83,751 |  |  |  | 75,435 |  |  |  | — |  |  |  | — |  |  |  | 159,186 |
|  |  | 226,803 |  |  |  | 139,474 |  |  |  | — |  |  |  | — |  |  |  | 366,277 |
Cost of goods sold |  |  | 212,685 |  |  |  | 104,078 |  |  |  | — |  |  |  | — |  |  |  | 316,763 |
Gross profit |  |  | 14,118 |  |  |  | 35,396 |  |  |  | — |  |  |  | — |  |  |  | 49,514 |
Other operating income - net |  |  | (5,205 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,205 | )
Selling, general and admin expenses |  |  | 16,614 |  |  |  | 1,943 |  |  |  | — |  |  |  | — |  |  |  | 18,557 |
Operating income |  |  | 2,709 |  |  |  | 33,453 |  |  |  | — |  |  |  | — |  |  |  | 36,162 |
Interest expense – third party |  |  | (6,386 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6,386 | )
Interest expense – affiliates |  |  | 17,442 |  |  |  | (17,442 | ) |  |  | — |  |  |  | — |  |  |  | — |
Interest income – third party |  |  | 13 |  |  |  | 52 |  |  |  | — |  |  |  | — |  |  |  | 65 |
Interest income – affiliates |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | 70 |
Net loss on forward contracts |  |  | (1,617 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,617 | )
Other expense - net |  |  | (900 | ) |  |  | (232 | ) |  |  | — |  |  |  | — |  |  |  | (1,132 | )
Income before taxes and equity in earnings of subsidiaries and joint ventures |  |  | 11,261 |  |  |  | 15,901 |  |  |  | — |  |  |  | — |  |  |  | 27,162 |
Income tax benefit (expense) |  |  | 1,769 |  |  |  | (5,405 | ) |  |  | — |  |  |  | — |  |  |  | (3,636 | )
Income before equity in earnings of subsidiaries and joint ventures |  |  | 13,030 |  |  |  | 10,496 |  |  |  | — |  |  |  | — |  |  |  | 23,526 |
Equity earnings of subsidiaries and joint ventures |  |  | 1,406 |  |  |  | 460 |  |  |  | 23,986 |  |  |  | (25,392 | ) |  |  | 460 |
Net income (loss) |  | $ | 14,436 |  |  | $ | 10,956 |  |  | $ | 23,986 |  |  | $ | (25,392 | ) |  | $ | 23,986 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the three months ended June 30, 2010 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party customers |  | $ | 109,433 |  |  | $ | 73,612 |  |  | $ | — |  |  | $ | — |  |  | $ | 183,045 |
Related parties |  |  | 65,438 |  |  |  | 39,370 |  |  |  | — |  |  |  | — |  |  |  | 104,808 |
|  |  | 174,871 |  |  |  | 112,982 |  |  |  | — |  |  |  | — |  |  |  | 287,853 |
Cost of goods sold |  |  | 183,249 |  |  |  | 83,088 |  |  |  | — |  |  |  | — |  |  |  | 266,337 |
Gross profit (loss) |  |  | (8,378 | ) |  |  | 29,894 |  |  |  | — |  |  |  | — |  |  |  | 21,516 |
Other operating expenses |  |  | 4,644 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,644 |
Selling, general and admin expenses |  |  | 9,772 |  |  |  | 1,192 |  |  |  | — |  |  |  | — |  |  |  | 10,964 |
Operating income (loss) |  |  | (22,794 | ) |  |  | 28,702 |  |  |  | — |  |  |  | — |  |  |  | 5,908 |
Interest expense – third party |  |  | (6,357 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6,357 | )
Interest expense – affiliates |  |  | 16,408 |  |  |  | (16,408 | ) |  |  | — |  |  |  | — |  |  |  | — |
Interest income |  |  | 37 |  |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | 102 |
Interest income – affiliates |  |  | — |  |  |  | 111 |  |  |  | — |  |  |  | — |  |  |  | 111 |
Net gain on forward contracts |  |  | 9,294 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,294 |
Other income - net |  |  | 14 |  |  |  | 216 |  |  |  | — |  |  |  | — |  |  |  | 230 |
Income (loss) before taxes and equity in earnings (loss) of subsidiaries and joint ventures |  |  | (3,398 | ) |  |  | 12,686 |  |  |  | — |  |  |  | — |  |  |  | 9,288 |
Income tax expense |  |  | 261 |  |  |  | (4,880 | ) |  |  | — |  |  |  | — |  |  |  | (4,619 | )
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures |  |  | (3,137 | ) |  |  | 7,806 |  |  |  | — |  |  |  |  |  |  |  | 4,669 |
Equity earnings of subsidiaries and joint ventures |  |  | 1,061 |  |  |  | 477 |  |  |  | 5,146 |  |  |  | (6,207 | ) |  |  | 477 |
Net income (loss) |  | $ | (2,076 | ) |  | $ | 8,283 |  |  | $ | 5,146 |  |  | $ | (6,207 | ) |  | $ | 5,146 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the six months ended June 30, 2011 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party customers |  | $ | 273,539 |  |  | $ | 121,864 |  |  | $ | — |  |  | $ | — |  |  | $ | 395,403 |
Related parties |  |  | 151,063 |  |  |  | 146,148 |  |  |  | — |  |  |  | — |  |  |  | 297,211 |
|  |  | 424,602 |  |  |  | 268,012 |  |  |  | — |  |  |  | — |  |  |  | 692,614 |
Cost of goods sold |  |  | 399,705 |  |  |  | 201,079 |  |  |  | — |  |  |  | — |  |  |  | 600,784 |
Gross profit |  |  | 24,897 |  |  |  | 66,933 |  |  |  | — |  |  |  | — |  |  |  | 91,830 |
Other operating income - net |  |  | (11,089 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11,089 | )
Selling, general and admin expenses |  |  | 25,714 |  |  |  | 3,452 |  |  |  | — |  |  |  | — |  |  |  | 29,166 |
Operating income |  |  | 10,272 |  |  |  | 63,481 |  |  |  | — |  |  |  | — |  |  |  | 73,753 |
Interest expense – third party |  |  | (13,163 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,163 | )
Interest expense – affiliates |  |  | 34,672 |  |  |  | (34,672 | ) |  |  | — |  |  |  | — |  |  |  | — |
Interest income – third party |  |  | 43 |  |  |  | 177 |  |  |  | — |  |  |  | — |  |  |  | 220 |
Interest income – affiliates |  |  | — |  |  |  | 183 |  |  |  | — |  |  |  | — |  |  |  | 183 |
Net loss on forward contracts |  |  | (6,426 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (6,426 | )
Other expense - net |  |  | (284 | ) |  |  | (171 | ) |  |  | — |  |  |  | — |  |  |  | (455 | )
Income before taxes and equity in earnings of subsidiaries and joint ventures |  |  | 25,114 |  |  |  | 28,998 |  |  |  | — |  |  |  | — |  |  |  | 54,112 |
Income tax benefit (expense) |  |  | 3,590 |  |  |  | (10,349 | ) |  |  | — |  |  |  | — |  |  |  | (6,759 | )
Income before equity in earnings of subsidiaries and joint ventures |  |  | 28,704 |  |  |  | 18,649 |  |  |  | — |  |  |  | — |  |  |  | 47,353 |
Equity earnings of subsidiaries and joint ventures |  |  | 2,608 |  |  |  | 1,679 |  |  |  | 49,032 |  |  |  | (51,640 | ) |  |  | 1,679 |
Net income (loss) |  | $ | 31,312 |  |  | $ | 20,328 |  |  | $ | 49,032 |  |  | $ | (51,640 | ) |  | $ | 49,032 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS |
For the six months ended June 30, 2010 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Reclassifications and Eliminations |  |  | Consolidated |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third-party customers |  | $ | 227,511 |  |  | $ | 148,466 |  |  | $ | — |  |  | $ | — |  |  | $ | 375,977 |
Related parties |  |  | 122,419 |  |  |  | 74,846 |  |  |  | — |  |  |  | — |  |  |  | 197,265 |
|  |  | 349,930 |  |  |  | 223,312 |  |  |  | — |  |  |  | — |  |  |  | 573,242 |
Cost of goods sold |  |  | 351,698 |  |  |  | 166,052 |  |  |  | — |  |  |  | — |  |  |  | 517,750 |
Gross profit (loss) |  |  | (1,768 | ) |  |  | 57,260 |  |  |  | — |  |  |  | — |  |  |  | 55,492 |
Other operating expenses – net |  |  | 9,109 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,109 |
Selling, general and admin expenses |  |  | 21,060 |  |  |  | 2,155 |  |  |  | — |  |  |  | — |  |  |  | 23,215 |
Operating income (loss) |  |  | (31,937 | ) |  |  | 55,105 |  |  |  | — |  |  |  | — |  |  |  | 23,168 |
Interest expense – third party |  |  | (12,755 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (12,755 | )
Interest expense – affiliates |  |  | 32,362 |  |  |  | (32,362 | ) |  |  | — |  |  |  | — |  |  |  | — |
Interest income – third party |  |  | 59 |  |  |  | 144 |  |  |  | — |  |  |  | — |  |  |  | 203 |
Interest income – affiliates |  |  | — |  |  |  | 220 |  |  |  | — |  |  |  | — |  |  |  | 220 |
Net gain on forward contracts |  |  | 7,322 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,322 |
Other income - net |  |  | 291 |  |  |  | 347 |  |  |  | — |  |  |  | — |  |  |  | 638 |
Income (loss) before taxes and equity in earnings (loss) of subsidiaries and joint ventures |  |  | (4,658 | ) |  |  | 23,454 |  |  |  | — |  |  |  | — |  |  |  | 18,796 |
Income tax benefit (expense) |  |  | 236 |  |  |  | (9,136 | ) |  |  | — |  |  |  | — |  |  |  | (8,900 | )
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures |  |  | (4,422 | ) |  |  | 14,318 |  |  |  | — |  |  |  | — |  |  |  | 9,896 |
Equity earnings of subsidiaries and joint ventures |  |  | 2,040 |  |  |  | 1,582 |  |  |  | 11,478 |  |  |  | (13,518 | ) |  |  | 1,582 |
Net income (loss) |  | $ | (2,382 | ) |  | $ | 15,900 |  |  | $ | 11,478 |  |  | $ | (13,518 | ) |  | $ | 11,478 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the six months ended June 30, 2011 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (20,260 | ) |  | $ | 4,125 |  |  | $ | — |  |  | $ | (16,135 | )
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment |  |  | (2,860 | ) |  |  | (4,164 | ) |  |  | (329 | ) |  |  | (7,353 | )
Nordural expansion |  |  | — |  |  |  | (7,968 | ) |  |  | — |  |  |  | (7,968 | )
Proceeds from sale of property, plant and equipment |  |  | — |  |  |  | 56 |  |  |  | — |  |  |  | 56 |
Payments received on advances from joint ventures |  |  | — |  |  |  | — |  |  |  | 3,056 |  |  |  | 3,056 |
Restricted and other cash deposits |  |  | 3,673 |  |  |  | — |  |  |  | — |  |  |  | 3,673 |
Net cash provided by (used in) investing activities |  |  | 813 |  |  |  | (12,076 | ) |  |  | 2,727 |  |  |  | (8,536 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayments of long-term debt |  |  | — |  |  |  | — |  |  |  | (47,067 | ) |  |  | (47,067 | )
Repayments of contingent obligation |  |  | (189 | ) |  |  | — |  |  |  | — |  |  |  | (189 | )
Intercompany transactions |  |  | 20,209 |  |  |  | (13,314 | ) |  |  | (6,895 | ) |  |  | — |
Issuance of common stock – net |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | 32 |
Net cash provided by (used in) financing activities |  |  | 20,020 |  |  |  | (13,314 | ) |  |  | (53,930 | ) |  |  | (47,224 | )
Net change in cash and cash equivalents |  |  | 573 |  |  |  | (21,265 | ) |  |  | (51,203 | ) |  |  | (71,895 | )
Cash and cash equivalents, beginning of the period |  |  | — |  |  |  | 214,923 |  |  |  | 89,373 |  |  |  | 304,296 |
Cash and cash equivalents, end of the period |  | $ | 573 |  |  | $ | 193,658 |  |  | $ | 38,170 |  |  | $ | 232,401 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the six months ended June 30, 2010 |
|  | Combined Guarantor Subsidiaries |  |  | Combined Non-Guarantor Subsidiaries |  |  | The Company |  |  | Consolidated |
Net cash provided by operating activities |  | $ | 54,042 |  |  | $ | 18,090 |  |  | $ | — |  |  | $ | 72,132 |
Investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchase of property, plant and equipment |  |  | (1,262 | ) |  |  | (1,743 | ) |  |  | (7 | ) |  |  | (3,012 | )
Nordural expansion |  |  | — |  |  |  | (10,113 | ) |  |  | — |  |  |  | (10,113 | )
Investments in and advances to joint ventures |  |  | — |  |  |  | — |  |  |  | (17 | ) |  |  | (17 | )
Restricted and other cash deposits |  |  | (983 | ) |  |  | — |  |  |  | — |  |  |  | (983 | )
Net cash used in investing activities |  |  | (2,245 | ) |  |  | (11,856 | ) |  |  | (24 | ) |  |  | (14,125 | )
Financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Intercompany transactions |  |  | (51,797 | ) |  |  | 56,466 |  |  |  | (4,669 | ) |  |  | — |
Issuance of common stock – net |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | 23 |
Net cash provided by (used in) financing activities |  |  | (51,797 | ) |  |  | 56,466 |  |  |  | (4,646 | ) |  |  | 23 |
Net change in cash and cash equivalents |  |  | — |  |  |  | 62,700 |  |  |  | (4,670 | ) |  |  | 58,030 |
Cash and cash equivalents, beginning of the period |  |  | — |  |  |  | 109,798 |  |  |  | 88,436 |  |  |  | 198,234 |
Cash and cash equivalents, end of the period |  | $ | — |  |  | $ | 172,498 |  |  | $ | 83,766 |  |  | $ | 256,264 |

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- Definition Text block that encapsulates the detailed table comprising the condensed financial statements (balance sheet, income statement and statement of cash flows), normally using the registrant (parent) as the sole domain member. If condensed consolidating financial statements are being presented, other domain members (in addition to parent) such as guarantor subsidiaries, non-guarantor subsidiaries, and the consolidation eliminations, will be included in order that the respective monetary amounts for each of the domains will aggregate to the respective amounts on the consolidated financial statements. The line items are the various captions used to compile the condensed financial statements. Using extensions, most, if not all, of the elements representing condensed financial statement captions will be the same as those used for the consolidated financial statements captions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 + Details
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