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Condensed consolidating financial information (Tables) | 3 Months Ended
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Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Statements of Comprehensive Income (Loss) |
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |  |
Related parties |  | $ | — |  |  | $ | 162,120 |  |  | $ | 141,654 |  |  | $ | (23,397 | ) |  | $ | 280,377 |
Third-party customers |  | — |  |  | 38,468 |  |  | 9 |  |  | — |  |  | 38,477 |
Total net sales |  | — |  |  | 200,588 |  |  | 141,663 |  |  | (23,397 | ) |  | 318,854 |
Cost of goods sold |  | — |  |  | 209,573 |  |  | 136,304 |  |  | (23,971 | ) |  | 321,906 |
Gross profit (loss) |  | — |  |  | (8,985 | ) |  | 5,359 |  |  | 574 |  |  | (3,052 | )
Selling, general and administrative expenses |  | 8,299 |  |  | — |  |  | 1,326 |  |  | — |  |  | 9,625 |
Other operating expense - net |  | — |  |  | — |  |  | 881 |  |  | — |  |  | 881 |
Operating income (loss) |  | (8,299 | ) |  | (8,985 | ) |  | 3,152 |  |  | 574 |  |  | (13,558 | )
Interest expense - third parties |  | (5,065 | ) |  | (382 | ) |  | (46 | ) |  | — |  |  | (5,493 | )
Interest income (expense) - affiliates |  | 9,548 |  |  | — |  |  | (9,548 | ) |  | — |  |  | — |
Interest income - third parties |  | 37 |  |  | — |  |  | 77 |  |  | — |  |  | 114 |
Net gain on forward and derivative contracts |  | — |  |  | 353 |  |  | — |  |  | — |  |  | 353 |
Other income (expense) - net |  | 771 |  |  | (6 | ) |  | (771 | ) |  | — |  |  | (6 | )
Loss before income taxes and equity in earnings (loss) of joint ventures |  | (3,008 | ) |  | (9,020 | ) |  | (7,136 | ) |  | 574 |  |  | (18,590 | )
Income tax benefit |  | 620 |  |  | — |  |  | 1,450 |  |  | — |  |  | 2,070 |
Loss before income taxes and equity in earnings (loss) of joint ventures |  | (2,388 | ) |  | (9,020 | ) |  | (5,686 | ) |  | 574 |  |  | (16,520 | )
Equity in earnings (loss) of joint ventures |  | (13,775 | ) |  | — |  |  | 357 |  |  | 13,775 |  |  | 357 |
Net loss |  | $ | (16,163 | ) |  | $ | (9,020 | ) |  | $ | (5,329 | ) |  | $ | 14,349 |  |  | $ | (16,163 | )
Other comprehensive income before income tax effect |  | 1,206 |  |  | 778 |  |  | 303 |  |  | (1,081 | ) |  | 1,206 |
Income tax effect |  | (383 | ) |  | — |  |  | 8 |  |  | (8 | ) |  | (383 | )
Other comprehensive income (loss) |  | 823 |  |  | 778 |  |  | 311 |  |  | (1,089 | ) |  | 823 |
Total comprehensive loss |  | $ | (15,340 | ) |  | $ | (8,242 | ) |  | $ | (5,018 | ) |  | $ | 13,260 |  |  | $ | (15,340 | )
Condensed Consolidating Statements of Comprehensive Income (Loss)
For the three months ended March 31, 2015
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
NET SALES: |  |  |  |  |  |  |  |  |  |
Related parties |  | $ | — |  |  | $ | 403,064 |  |  | $ | 173,779 |  |  | $ | (1,114 | ) |  | $ | 575,729 |
Third-party customers |  | — |  |  | 12,874 |  |  | 6 |  |  | (698 | ) |  | 12,182 |
Total net sales |  | — |  |  | 415,938 |  |  | 173,785 |  |  | (1,812 | ) |  | 587,911 |
Cost of goods sold |  | — |  |  | 362,302 |  |  | 136,028 |  |  | (4,514 | ) |  | 493,816 |
Gross profit |  | — |  |  | 53,636 |  |  | 37,757 |  |  | 2,702 |  |  | 94,095 |
Selling, general and administrative expenses |  | 10,837 |  |  | (944 | ) |  | 1,078 |  |  | 1,000 |  |  | 11,971 |
Other operating expense - net |  | — |  |  | — |  |  | 2,079 |  |  | — |  |  | 2,079 |
Operating income (loss) |  | (10,837 | ) |  | 54,580 |  |  | 34,600 |  |  | 1,702 |  |  | 80,045 |
Interest expense - third parties |  | (5,109 | ) |  | (396 | ) |  | (46 | ) |  | — |  |  | (5,551 | )
Interest income (expense) - affiliates |  | 10,226 |  |  | — |  |  | (10,226 | ) |  | — |  |  | — |
Interest income - third parties |  | 15 |  |  | 4 |  |  | 123 |  |  | — |  |  | 142 |
Net gain on forward and derivative contracts |  | — |  |  | 353 |  |  | — |  |  | — |  |  | 353 |
Unrealized gain on fair value of contingent consideration |  | — |  |  | 6,527 |  |  | — |  |  | — |  |  | 6,527 |
Other income (expense) - net |  | 537 |  |  | (484 | ) |  | 2,731 |  |  | (1,730 | ) |  | 1,054 |
Income (loss) before income taxes and equity in earnings of joint ventures |  | (5,168 | ) |  | 60,584 |  |  | 27,182 |  |  | (28 | ) |  | 82,570 |
Income tax expense |  | (299 | ) |  | — |  |  | (9,052 | ) |  | 50 |  |  | (9,301 | )
Income (loss) before equity in earnings of joint ventures |  | (5,467 | ) |  | 60,584 |  |  | 18,130 |  |  | 22 |  |  | 73,269 |
Equity in earnings of joint ventures |  | 79,246 |  |  | — |  |  | 510 |  |  | (79,246 | ) |  | 510 |
Net income |  | $ | 73,779 |  |  | $ | 60,584 |  |  | $ | 18,640 |  |  | $ | (79,224 | ) |  | $ | 73,779 |
Other comprehensive income before income tax effect |  | 461 |  |  | 33 |  |  | 245 |  |  | (278 | ) |  | 461 |
Income tax effect |  | (383 | ) |  | — |  |  | 8 |  |  | (8 | ) |  | (383 | )
Other comprehensive income (loss) |  | 78 |  |  | 33 |  |  | 253 |  |  | (286 | ) |  | 78 |
Total comprehensive income |  | $ | 73,857 |  |  | $ | 60,617 |  |  | $ | 18,893 |  |  | $ | (79,510 | ) |  | $ | 73,857 |
Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet
As of March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash & cash equivalents |  | $ | 49,667 |  |  | $ | (74 | ) |  | $ | 76,868 |  |  | $ | — |  |  | $ | 126,461 |
Restricted cash |  | — |  |  | 795 |  |  | — |  |  | — |  |  | 795 |
Accounts receivable - net |  | — |  |  | 12,088 |  |  | 580 |  |  | — |  |  | 12,668 |
Due from affiliates |  | 382 |  |  | 13,955 |  |  | 1,141 |  |  | — |  |  | 15,478 |
Inventories |  | 180 |  |  | 142,070 |  |  | 80,526 |  |  | (2,274 | ) |  | 220,502 |
Prepaid and other current assets |  | 7,073 |  |  | 4,290 |  |  | 18,259 |  |  | — |  |  | 29,622 |
Assets held for sale |  | — |  |  | — |  |  | 29,715 |  |  | — |  |  | 29,715 |
Total current assets |  | 57,302 |  |  | 173,124 |  |  | 207,089 |  |  | (2,274 | ) |  | 435,241 |
Property, plant and equipment - net |  | 8,863 |  |  | 352,384 |  |  | 853,975 |  |  | — |  |  | 1,215,222 |
Investment in subsidiaries |  | 580,999 |  |  | — |  |  | — |  |  | (580,999 | ) |  | — |
Due from affiliates - less current portion |  | 639,780 |  |  | — |  |  | — |  |  | (639,780 | ) |  | — |
Other assets |  | 30,025 |  |  | 19,328 |  |  | 16,371 |  |  | 7,418 |  |  | 73,142 |
TOTAL |  | $ | 1,316,969 |  |  | $ | 544,836 |  |  | $ | 1,077,435 |  |  | $ | (1,215,635 | ) |  | $ | 1,723,605 |
Accounts payable, trade |  | $ | 2,582 |  |  | $ | 47,777 |  |  | $ | 34,228 |  |  | $ | — |  |  | $ | 84,587 |
Due to affiliates |  | 1,500 |  |  | 1,210 |  |  | 547 |  |  | 2,916 |  |  | 6,173 |
Accrued and other current liabilities |  | 14,280 |  |  | 11,073 |  |  | 24,816 |  |  | — |  |  | 50,169 |
Accrued employee benefits costs |  | 1,824 |  |  | 7,550 |  |  | 680 |  |  | — |  |  | 10,054 |
Industrial revenue bonds |  | — |  |  | 7,815 |  |  | — |  |  | — |  |  | 7,815 |
Total current liabilities |  | 20,186 |  |  | 75,425 |  |  | 60,271 |  |  | 2,916 |  |  | 158,798 |
Senior notes payable |  | 247,380 |  |  | — |  |  | — |  |  | — |  |  | 247,380 |
Accrued pension benefits costs cost - less current portion |  | 39,552 |  |  | (11,009 | ) |  | 14,894 |  |  | — |  |  | 43,437 |
Accrued postretirement benefits costs - less current portion |  | 4,834 |  |  | 119,529 |  |  | 1,578 |  |  | — |  |  | 125,941 |
Other liabilities |  | 1,893 |  |  | 30,749 |  |  | 11,739 |  |  | 7,418 |  |  | 51,799 |
Intercompany loan |  | — |  |  | 126,343 |  |  | 518,353 |  |  | (644,696 | ) |  | — |
Deferred taxes |  | — |  |  | — |  |  | 93,399 |  |  | — |  |  | 93,399 |
Total noncurrent liabilities |  | 293,659 |  |  | 265,612 |  |  | 639,963 |  |  | (637,278 | ) |  | 561,956 |
Series A Preferred stock |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Common stock |  | 942 |  |  | — |  |  | 228,424 |  |  | (228,424 | ) |  | 942 |
Additional paid-in capital |  | 2,513,952 |  |  | 191,023 |  |  | 2,182,533 |  |  | (2,373,556 | ) |  | 2,513,952 |
Treasury stock, at cost |  | (86,276 | ) |  | — |  |  | — |  |  | — |  |  | (86,276 | )
Accumulated other comprehensive loss |  | (13,391 | ) |  | (59,249 | ) |  | (39,187 | ) |  | — |  |  | (111,827 | )
Accumulated deficit |  | (1,412,104 | ) |  | 72,025 |  |  | (1,994,569 | ) |  | 2,020,707 |  |  | (1,313,941 | )
Total shareholder's equity |  | 1,003,124 |  |  | 203,799 |  |  | 377,201 |  |  | (581,273 | ) |  | 1,002,851 |
TOTAL |  | $ | 1,316,969 |  |  | $ | 544,836 |  |  | $ | 1,077,435 |  |  | $ | (1,215,635 | ) |  | $ | 1,723,605 |
Condensed Consolidating Balance Sheet
As of December 31, 2015
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Cash & cash equivalents |  | $ | 58,421 |  |  | $ | (3,647 | ) |  | $ | 60,619 |  |  | $ | — |  |  | $ | 115,393 |
Restricted cash |  | — |  |  | 791 |  |  | — |  |  | — |  |  | 791 |
Accounts receivable - net |  | 104 |  |  | 8,891 |  |  | 480 |  |  | — |  |  | 9,475 |
Due from affiliates |  | 13 |  |  | 14,493 |  |  | 2,911 |  |  | — |  |  | 17,417 |
Inventories |  | 180 |  |  | 148,280 |  |  | 85,937 |  |  | (2,525 | ) |  | 231,872 |
Prepaid and other current assets |  | 7,713 |  |  | 16,242 |  |  | 18,457 |  |  | — |  |  | 42,412 |
Assets held for sale |  | — |  |  | — |  |  | 30,697 |  |  | — |  |  | 30,697 |
Total current assets |  | 66,431 |  |  | 185,050 |  |  | 199,101 |  |  | (2,525 | ) |  | 448,057 |
Property, plant and equipment - net |  | 9,188 |  |  | 361,626 |  |  | 861,442 |  |  | — |  |  | 1,232,256 |
Investment in subsidiaries |  | 593,604 |  |  | — |  |  | — |  |  | (593,604 | ) |  | — |
Due from affiliates - less current portion |  | 632,170 |  |  | — |  |  | — |  |  | (632,170 | ) |  | — |
Other assets |  | 29,536 |  |  | 19,153 |  |  | 16,047 |  |  | 7,419 |  |  | 72,155 |
TOTAL |  | $ | 1,330,929 |  |  | $ | 565,829 |  |  | $ | 1,076,590 |  |  | $ | (1,220,880 | ) |  | $ | 1,752,468 |
Accounts payable, trade |  | $ | 2,380 |  |  | $ | 53,145 |  |  | $ | 34,964 |  |  | $ | — |  |  | $ | 90,489 |
Due to affiliates |  | 2,143 |  |  | 7,167 |  |  | 735 |  |  | — |  |  | 10,045 |
Accrued and other current liabilities |  | 11,247 |  |  | 14,759 |  |  | 22,816 |  |  | — |  |  | 48,822 |
Accrued employee benefits costs |  | 1,824 |  |  | 7,644 |  |  | 680 |  |  | — |  |  | 10,148 |
Industrial revenue bonds |  | — |  |  | 7,815 |  |  | — |  |  | — |  |  | 7,815 |
Total current liabilities |  | 17,594 |  |  | 90,530 |  |  | 59,195 |  |  | — |  |  | 167,319 |
Senior notes payable |  | 247,278 |  |  | — |  |  | — |  |  | — |  |  | 247,278 |
Accrued pension benefits costs cost - less current portion |  | 39,831 |  |  | (11,021 | ) |  | 15,189 |  |  | — |  |  | 43,999 |
Accrued postretirement benefits costs - less current portion |  | 4,524 |  |  | 119,911 |  |  | 1,564 |  |  | — |  |  | 125,999 |
Other liabilities |  | 3,307 |  |  | 30,505 |  |  | 11,779 |  |  | 7,418 |  |  | 53,009 |
Intercompany loan |  | — |  |  | 124,518 |  |  | 509,652 |  |  | (634,170 | ) |  | — |
Deferred taxes |  | — |  |  | — |  |  | 96,994 |  |  | — |  |  | 96,994 |
Total noncurrent liabilities |  | 294,940 |  |  | 263,913 |  |  | 635,178 |  |  | (626,752 | ) |  | 567,279 |
Series A Preferred stock |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
Common stock |  | 942 |  |  | — |  |  | 224,424 |  |  | (224,424 | ) |  | 942 |
Additional paid-in capital |  | 2,513,631 |  |  | 191,023 |  |  | 2,038,138 |  |  | (2,229,161 | ) |  | 2,513,631 |
Treasury stock, at cost |  | (86,276 | ) |  | — |  |  | — |  |  | — |  |  | (86,276 | )
Accumulated other comprehensive loss |  | (13,125 | ) |  | (60,026 | ) |  | (39,499 | ) |  | — |  |  | (112,650 | )
Accumulated deficit |  | (1,396,778 | ) |  | 80,389 |  |  | (1,840,846 | ) |  | 1,859,457 |  |  | (1,297,778 | )
Total shareholder's equity |  | 1,018,395 |  |  | 211,386 |  |  | 382,217 |  |  | (594,128 | ) |  | 1,017,870 |
TOTAL |  | $ | 1,330,929 |  |  | $ | 565,829 |  |  | $ | 1,076,590 |  |  | $ | (1,220,880 | ) |  | $ | 1,752,468 |
Condensed Consolidating Statement of Cash Flows |
Condensed Consolidating Statement of Cash Flows
For the three months ended March 31, 2016
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities |  | $ | (8,754 | ) |  | $ | 5,435 |  |  | $ | 9,956 |  |  | $ | 8,266 |  |  | $ | 14,903 |
Purchase of property, plant and equipment |  | — |  |  | (1,426 | ) |  | (2,409 | ) |  | — |  |  | (3,835 | )
Net cash used in investing activities |  | — |  |  | (1,426 | ) |  | (2,409 | ) |  | — |  |  | (3,835 | )
Borrowings under revolving credit facilities |  | 371 |  |  | — |  |  | — |  |  | — |  |  | 371 |
Repayments under revolving credit facilities |  | (371 | ) |  | — |  |  | — |  |  | — |  |  | (371 | )
Intercompany transactions |  | — |  |  | (436 | ) |  | 8,702 |  |  | (8,266 | ) |  | — |
Net cash provided by (used in) financing activities |  | — |  |  | (436 | ) |  | 8,702 |  |  | (8,266 | ) |  | — |
CHANGE IN CASH AND CASH EQUIVALENTS |  | (8,754 | ) |  | 3,573 |  |  | 16,249 |  |  | — |  |  | 11,068 |
Cash and cash equivalents, beginning of period |  | 58,421 |  |  | (3,647 | ) |  | 60,619 |  |  | — |  |  | 115,393 |
Cash and cash equivalents, end of period |  | $ | 49,667 |  |  | $ | (74 | ) |  | $ | 76,868 |  |  | $ | — |  |  | $ | 126,461 |
Condensed Consolidating Statement of Cash Flows
For the three months ended March 31, 2015
|  | The Company |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Total Consolidated
Net cash provided by (used in) operating activities |  | $ | 113,179 |  |  | $ | 40,025 |  |  | $ | (222,561 | ) |  | $ | 185,624 |  |  | $ | 116,267 |
Purchase of property, plant and equipment |  | (348 | ) |  | (6,726 | ) |  | (5,553 | ) |  | — |  |  | (12,627 | )
Restricted and other cash deposits |  | — |  |  | (21,012 | ) |  | — |  |  | — |  |  | (21,012 | )
Net cash used in investing activities |  | (348 | ) |  | (27,738 | ) |  | (5,553 | ) |  | — |  |  | (33,639 | )
Borrowings under revolving credit facilities |  | 455 |  |  | — |  |  | — |  |  | — |  |  | 455 |
Repayments under revolving credit facilities |  | (455 | ) |  | — |  |  | — |  |  | — |  |  | (455 | )
Repurchase of common stock |  | (19,439 | ) |  | — |  |  | — |  |  | — |  |  | (19,439 | )
Intercompany transactions |  | — |  |  | (11,164 | ) |  | 196,788 |  |  | (185,624 | ) |  | — |
Net cash provided by (used in) financing activities |  | (19,439 | ) |  | (11,164 | ) |  | 196,788 |  |  | (185,624 | ) |  | (19,439 | )
CHANGE IN CASH AND CASH EQUIVALENTS |  | 93,392 |  |  | 1,123 |  |  | (31,326 | ) |  | — |  |  | 63,189 |
Cash and cash equivalents, beginning of period |  | 70,683 |  |  | (1,187 | ) |  | 93,746 |  |  | — |  |  | 163,242 |
Cash and cash equivalents, end of period |  | $ | 164,075 |  |  | $ | (64 | ) |  | $ | 62,420 |  |  | $ | — |  |  | $ | 226,431 |

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