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Condensed consolidating financial information (Tables) | 3 Months Ended
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Mar. 31, 2012
Condensed Consolidating Financial Information [Abstract] |
Condensed Financial information | The following summarized condensed consolidating balance sheets as of March 31, 2012 and December 31, 2011, condensed consolidating statements of operations for the three months ended March 31, 2012 and March 31, 2011 and the condensed consolidating statements of cash flows for the three months ended March 31, 2012 and March 31, 2011 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 March 31, 2012
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Assets: |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | 154,506 |  | $ | 28,039 |  | $ | — |  | $ | 182,545 |
Accounts receivable — net | 36,348 |  | 14,183 |  | — |  | — |  | 50,531 |
Due from affiliates | 615,425 |  | 8,193 |  | 2,469,467 |  | (3,053,868 | ) | 39,217 |
Inventories | 103,057 |  | 67,245 |  | — |  | — |  | 170,302 |
Prepaid and other current assets | 3,624 |  | 37,315 |  | 2,911 |  | — |  | 43,850 |
Total current assets | 758,454 |  | 281,442 |  | 2,500,417 |  | (3,053,868 | ) | 486,445 |
Investment in subsidiaries | 36,730 |  | — |  | (998,608 | ) | 961,878 |  | — |
Property, plant and equipment — net | 332,665 |  | 872,655 |  | 1,073 |  | (287 | ) | 1,206,106 |
Other assets | 21,842 |  | 43,823 |  | 39,210 |  | — |  | 104,875 |
Total | $ | 1,149,691 |  | $ | 1,197,920 |  | $ | 1,542,092 |  | $ | (2,092,277 | ) | $ | 1,797,426 |
Liabilities and shareholders’ equity: |  |  |  |  |
Accounts payable, trade | $ | 32,733 |  | $ | 40,566 |  | $ | 1,687 |  | $ | — |  | $ | 74,986 |
Due to affiliates | 2,107,644 |  | 77,522 |  | 202,812 |  | (2,346,434 | ) | 41,544 |
Accrued and other current liabilities | 11,173 |  | 22,998 |  | 14,746 |  | — |  | 48,917 |
Accrued employee benefits costs — current portion | 13,918 |  | — |  | 2,270 |  | — |  | 16,188 |
Industrial revenue bonds | 7,815 |  | — |  | — |  | — |  | 7,815 |
Total current liabilities | 2,173,283 |  | 141,086 |  | 221,515 |  | (2,346,434 | ) | 189,450 |
Senior notes payable | — |  | — |  | 249,769 |  | — |  | 249,769 |
Accrued pension benefit costs — less current portion | 37,395 |  | — |  | 30,876 |  | — |  | 68,271 |
Accrued postretirement benefit costs — less current portion | 123,252 |  | — |  | 5,667 |  | — |  | 128,919 |
Other liabilities/intercompany loan | 63,940 |  | 679,726 |  | 3,521 |  | (707,721 | ) | 39,466 |
Deferred taxes — less current portion | — |  | 90,807 |  | — |  | — |  | 90,807 |
Total noncurrent liabilities | 224,587 |  | 770,533 |  | 289,833 |  | (707,721 | ) | 577,232 |
Shareholders’ equity: |  |  |  |  |
Preferred stock | — |  | — |  | 1 |  | — |  | 1 |
Common stock | 60 |  | 12 |  | 932 |  | (72 | ) | 932 |
Additional paid-in capital | 297,300 |  | 144,383 |  | 2,506,987 |  | (441,683 | ) | 2,506,987 |
Treasury stock, at cost | — |  | — |  | (49,924 | ) | — |  | (49,924 | )
Accumulated other comprehensive loss | (131,278 | ) | (1,411 | ) | (133,832 | ) | 132,689 |  | (133,832 | )
Retained earnings (accumulated deficit) | (1,414,261 | ) | 143,317 |  | (1,293,420 | ) | 1,270,944 |  | (1,293,420 | )
Total shareholders’ equity | (1,248,179 | ) | 286,301 |  | 1,030,744 |  | 961,878 |  | 1,030,744 |
Total | $ | 1,149,691 |  | $ | 1,197,920 |  | $ | 1,542,092 |  | $ | (2,092,277 | ) | $ | 1,797,426 |
CONDENSED CONSOLIDATING BALANCE SHEET
As of December 31, 2011
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Assets: |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | 159,157 |  | $ | 24,244 |  | $ | — |  | $ | 183,401 |
Accounts receivable — net | 40,062 |  | 7,585 |  | — |  | — |  | 47,647 |
Due from affiliates | 616,830 |  | 13,517 |  | 2,474,727 |  | (3,060,409 | ) | 44,665 |
Inventories | 96,197 |  | 75,764 |  | — |  | — |  | 171,961 |
Prepaid and other current assets | 8,668 |  | 38,809 |  | 3,169 |  | (10,000 | ) | 40,646 |
Total current assets | 761,757 |  | 294,832 |  | 2,502,140 |  | (3,070,409 | ) | 488,320 |
Investment in subsidiaries | 36,965 |  | — |  | (995,131 | ) | 958,166 |  | — |
Property, plant and equipment — net | 338,946 |  | 878,333 |  | 1,211 |  | (265 | ) | 1,218,225 |
Other assets | 21,870 |  | 43,269 |  | 39,410 |  | — |  | 104,549 |
Total | $ | 1,159,538 |  | $ | 1,216,434 |  | $ | 1,547,630 |  | $ | (2,112,508 | ) | $ | 1,811,094 |
Liabilities and shareholders’ equity: |  |  |  |  |
Accounts payable, trade | $ | 43,215 |  | $ | 42,278 |  | $ | 679 |  | $ | — |  | $ | 86,172 |
Due to affiliates | 2,103,687 |  | 78,411 |  | 205,651 |  | (2,345,845 | ) | 41,904 |
Accrued and other current liabilities | 10,596 |  | 29,822 |  | 10,358 |  | (10,000 | ) | 40,776 |
Accrued employee benefits costs — current portion | 14,267 |  | — |  | 2,431 |  | — |  | 16,698 |
Industrial revenue bonds | 7,815 |  | — |  | — |  | — |  | 7,815 |
Total current liabilities | 2,179,580 |  | 150,511 |  | 219,119 |  | (2,355,845 | ) | 193,365 |
Senior notes payable | — |  | — |  | 249,512 |  | — |  | 249,512 |
Accrued pension benefit costs — less current portion | 40,277 |  | — |  | 30,622 |  | — |  | 70,899 |
Accrued postretirement benefit costs — less current portion | 122,609 |  | — |  | 5,469 |  | — |  | 128,078 |
Other liabilities/intercompany loan | 63,369 |  | 686,834 |  | 4,631 |  | (714,829 | ) | 40,005 |
Deferred taxes — less current portion | — |  | 90,958 |  | — |  | — |  | 90,958 |
Total noncurrent liabilities | 226,255 |  | 777,792 |  | 290,234 |  | (714,829 | ) | 579,452 |
Shareholders’ equity: |  |  |  |  |
Preferred stock | — |  | — |  | 1 |  | — |  | 1 |
Common stock | 60 |  | 12 |  | 932 |  | (72 | ) | 932 |
Additional paid-in capital | 297,300 |  | 144,383 |  | 2,506,842 |  | (441,683 | ) | 2,506,842 |
Treasury stock, at cost | — |  | — |  | (45,891 | ) | — |  | (45,891 | )
Accumulated other comprehensive income (loss) | (132,235 | ) | (1,373 | ) | (134,588 | ) | 133,608 |  | (134,588 | )
Retained earnings (accumulated deficit) | (1,411,422 | ) | 145,109 |  | (1,289,019 | ) | 1,266,313 |  | (1,289,019 | )
Total shareholders’ equity | (1,246,297 | ) | 288,131 |  | 1,038,277 |  | 958,166 |  | 1,038,277 |
Total | $ | 1,159,538 |  | $ | 1,216,434 |  | $ | 1,547,630 |  | $ | (2,112,508 | ) | $ | 1,811,094 |
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the three months ended March 31, 2012
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Net sales: |  |  |  |  |
Third-party customers | $ | 135,854 |  | $ | 52,985 |  | $ | — |  | $ | — |  | $ | 188,839 |
Related parties | 74,530 |  | 62,821 |  | — |  | — |  | 137,351 |
| 210,384 |  | 115,806 |  | — |  | — |  | 326,190 |
Cost of goods sold | 206,936 |  | 98,662 |  | — |  | — |  | 305,598 |
Gross profit | 3,448 |  | 17,144 |  | — |  | — |  | 20,592 |
Other operating loss - net | 3,721 |  | — |  | — |  | — |  | 3,721 |
Selling, general and admin expenses | 7,979 |  | 480 |  | — |  | — |  | 8,459 |
Operating income | (8,252 | ) | 16,664 |  | — |  | — |  | 8,412 |
Interest expense – third party | (5,978 | ) | — |  | — |  | — |  | (5,978 | )
Interest expense – affiliates | 16,218 |  | (16,218 | ) | — |  | — |  | — |
Interest income – third party | 11 |  | 127 |  | — |  | — |  | 138 |
Interest income – affiliates | — |  | 60 |  | — |  | — |  | 60 |
Net loss on forward contracts | (5,159 | ) | — |  | — |  | — |  | (5,159 | )
Other income (loss) - net | 804 |  | (498 | ) | — |  | — |  | 306 |
Income (loss) before taxes and equity in earnings (loss) of subsidiaries and joint ventures | (2,356 | ) | 135 |  | — |  | — |  | (2,221 | )
Income tax expense | (253 | ) | (2,568 | ) | — |  | — |  | (2,821 | )
Income (loss) before equity in earnings (loss) of subsidiaries and joint ventures | (2,609 | ) | (2,433 | ) | — |  | — |  | (5,042 | )
Equity earnings (loss) of subsidiaries and joint ventures | (230 | ) | 641 |  | (4,401 | ) | 4,631 |  | 641 |
Net loss | $ | (2,839 | ) | $ | (1,792 | ) | $ | (4,401 | ) | $ | 4,631 |  | $ | (4,401 | )
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS
For the three months ended March 31, 2011
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Net sales: |  |  |  |  |
Third-party customers | $ | 130,487 |  | $ | 57,825 |  | $ | — |  | $ | — |  | $ | 188,312 |
Related parties | 67,312 |  | 70,713 |  | — |  | — |  | 138,025 |
| 197,799 |  | 128,538 |  | — |  | — |  | 326,337 |
Cost of goods sold | 187,020 |  | 97,001 |  | — |  | — |  | 284,021 |
Gross profit | 10,779 |  | 31,537 |  | — |  | — |  | 42,316 |
Other operating income - net | (5,884 | ) | — |  | — |  | — |  | (5,884 | )
Selling, general and admin expenses | 9,100 |  | 1,509 |  | — |  | — |  | 10,609 |
Operating income | 7,563 |  | 30,028 |  | — |  | — |  | 37,591 |
Interest expense – third party | (6,777 | ) | — |  | — |  | — |  | (6,777 | )
Interest expense – affiliates | 17,230 |  | (17,230 | ) | — |  | — |  | — |
Interest income – third party | 30 |  | 125 |  | — |  | — |  | 155 |
Interest income – affiliates | — |  | 113 |  | — |  | — |  | 113 |
Net loss on forward contracts | (4,809 | ) | — |  | — |  | — |  | (4,809 | )
Other income - net | 616 |  | 61 |  | — |  | — |  | 677 |
Income before taxes and equity in earnings of subsidiaries and joint ventures | 13,853 |  | 13,097 |  | — |  | — |  | 26,950 |
Income tax benefit (expense) | 1,821 |  | (4,944 | ) | — |  | — |  | (3,123 | )
Income before equity in earnings of subsidiaries and joint ventures | 15,674 |  | 8,153 |  | — |  | — |  | 23,827 |
Equity earnings of subsidiaries and joint ventures | 1,202 |  | 1,219 |  | 25,046 |  | (26,248 | ) | 1,219 |
Net income | $ | 16,876 |  | $ | 9,372 |  | $ | 25,046 |  | $ | (26,248 | ) | $ | 25,046 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
For the three months ended March 31, 2012
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Comprehensive income (loss) |  |  |  |  |
Net loss | $ | (2,839 | ) | $ | (1,792 | ) | $ | (4,401 | ) | $ | 4,631 |  | $ | (4,401 | )
Other comprehensive income (loss) before income tax effect: |  |  |  |  |
Net unrealized loss on financial instruments | (246 | ) | — |  | — |  | — |  | (246 | )
Net loss reclassified to income on financial instruments | 272 |  | — |  | — |  | — |  | 272 |
Net amount of foreign currency cash flow hedges reclassified as income | — |  | (47 | ) | — |  | — |  | (47 | )
Defined benefit plans and other postretirement benefits: |  |  |  |  |  |
Amortization of prior service benefit | (1,035 | ) | — |  | 10 |  | — |  | (1,025 | )
Amortization of net loss | 1,991 |  | — |  | 193 |  | — |  | 2,184 |
Other comprehensive income (loss) before income tax effect | 982 |  | (47 | ) | 203 |  | — |  | 1,138 |
Income tax effect | (322 | ) | 8 |  | (68 | ) | — |  | (382 | )
Other comprehensive income (loss) | 660 |  | (39 | ) | 135 |  | — |  | 756 |
Total comprehensive loss | $ | (2,179 | ) | $ | (1,831 | ) | $ | (4,266 | ) | $ | 4,631 |  | $ | (3,645 | )
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME
For the three months ended March 31, 2011
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Reclassifications and Eliminations | Consolidated
Comprehensive income (loss) |  |  |  |  |
Net income | $ | 16,876 |  | $ | 9,372 |  | $ | 25,046 |  | $ | (26,248 | ) | $ | 25,046 |
Other comprehensive income (loss) before income tax effect: |  |  |  |  |
Net unrealized loss on financial instruments | (11 | ) | — |  | — |  | — |  | (11 | )
Net loss reclassified to income on financial instruments | (6 | ) | — |  | — |  | — |  | (6 | )
Net amount of foreign currency cash flow hedges reclassified as income | — |  | (46 | ) | — |  | — |  | (46 | )
Defined benefit plans and other postretirement benefits: |  |  |  |  |  |
Amortization of prior service benefit | (15,122 | ) | — |  | 3 |  | — |  | (15,119 | )
Amortization of net loss | 6,125 |  | — |  | 160 |  | — |  | 6,285 |
Other comprehensive income (loss) before income tax effect | (9,014 | ) | (46 | ) | 163 |  | — |  | (8,897 | )
Income tax effect | (2,514 | ) | 8 |  | 46 |  | — |  | (2,460 | )
Other comprehensive income (loss) | (11,528 | ) | (38 | ) | 209 |  | — |  | (11,357 | )
Total comprehensive income | $ | 5,348 |  | $ | 9,334 |  | $ | 25,255 |  | $ | (26,248 | ) | $ | 13,689 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2012
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Consolidated
Net cash provided by (used in) operating activities | $ | 13,292 |  | $ | (8,394 | ) | $ | — |  | $ | 4,898 |
Investing activities: |  |  |  |
Purchase of property, plant and equipment | (1,649 | ) | (1,223 | ) | (27 | ) | (2,899 | )
Nordural expansion | — |  | (1,946 | ) | — |  | (1,946 | )
Proceeds from the sale of property, plant and equipment | — |  | 58 |  | — |  | 58 |
Investments in and advances to joint ventures | — |  | — |  | (100 | ) | (100 | )
Payments received on advances to joint ventures | — |  | — |  | 3,166 |  | 3,166 |
Net cash provided by (used in) investing activities | (1,649 | ) | (3,111 | ) | 3,039 |  | (1,721 | )
Financing activities: |  |  |  |
Borrowings under revolving credit facility | — |  | — |  | 18,076 |  | 18,076 |
Repayments under revolving credit facility | — |  | — |  | (18,076 | ) | (18,076 | )
Intercompany transactions | (11,643 | ) | 6,854 |  | 4,789 |  | — |
Repurchase of common stock | — |  | — |  | (4,033 | ) | (4,033 | )
Net cash provided by (used in) financing activities | (11,643 | ) | 6,854 |  | 756 |  | (4,033 | )
Net change in cash and cash equivalents | — |  | (4,651 | ) | 3,795 |  | (856 | )
Cash and cash equivalents, beginning of the period | — |  | 159,157 |  | 24,244 |  | 183,401 |
Cash and cash equivalents, end of the period | $ | — |  | $ | 154,506 |  | $ | 28,039 |  | $ | 182,545 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
For the three months ended March 31, 2011
| Combined Guarantor Subsidiaries | Combined Non-Guarantor Subsidiaries | The Company | Consolidated
Net cash provided by (used in) operating activities | $ | 1,251 |  | $ | (4,881 | ) | $ | — |  | $ | (3,630 | )
Investing activities: |  |  |  |
Purchase of property, plant and equipment | (2,319 | ) | (793 | ) | (16 | ) | (3,128 | )
Nordural expansion | — |  | (4,051 | ) | — |  | (4,051 | )
Net cash used in investing activities | (2,319 | ) | (4,844 | ) | (16 | ) | (7,179 | )
Financing activities: |  |  |  |
Intercompany transactions | 1,068 |  | 15,859 |  | (16,927 | ) | — |
Net cash provided by (used in) financing activities | 1,068 |  | 15,859 |  | (16,927 | ) | — |
Net change in cash and cash equivalents | — |  | 6,134 |  | (16,943 | ) | (10,809 | )
Cash and cash equivalents, beginning of the period | — |  | 214,923 |  | 89,373 |  | 304,296 |
Cash and cash equivalents, end of the period | $ | — |  | $ | 221,057 |  | $ | 72,430 |  | $ | 293,487 |

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- Definition Tabular disclosure of the condensed financial statements (balance sheet, income statement, cash flows), normally using the registrant (parent) as the sole domain member. If condensed consolidating financial statements are being presented, other domain members (guarantor subsidiaries, non-guarantor subsidiaries or consolidation eliminations) will be included in order that the respective monetary amounts for each domain will aggregate to the respective amounts on the consolidated financial statements. + References No definition available. + Details
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