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Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables) | 12 Months Ended
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Dec. 31, 2011
Financial Information for Subsidiary Guarantors and Non-Guarantors |
Balance Sheet |
|  | December 31, 2011 |
--- | --- | --- | ---
Balance Sheet |  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | — |  | $ | — |  | $ | 1,158 |  | $ | — |  | $ | 1,158 |
Inventories |  |  |  |  |  |  |  |  | 1,012 |  |  |  |  |  | 1,012 |
Other current assets |  |  |  |  |  |  |  |  | 524 |  |  |  |  |  | 524 |
Total current assets |  |  | — |  |  | — |  |  | 2,694 |  |  | — |  |  | 2,694 |
Investments in and advances to subsidiaries |  |  | 1,560 |  |  | 1,310 |  |  |  |  |  | (2,870 | ) |  | — |
Goodwill |  |  |  |  |  |  |  |  | 2,082 |  |  |  |  |  | 2,082 |
Other non-current assets |  |  |  |  |  |  |  |  | 1,273 |  |  |  |  |  | 1,273 |
Total other assets |  |  | 1,560 |  |  | 1,310 |  |  | 3,355 |  |  | (2,870 | ) |  | 3,355 |
Property, plant and equipment, net |  |  |  |  |  |  |  |  | 2,877 |  |  |  |  |  | 2,877 |
Total assets |  | $ | 1,560 |  | $ | 1,310 |  | $ | 8,926 |  | $ | (2,870 | ) | $ | 8,926 |
Current liabilities : |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | — |  | $ | — |  | $ | 1,674 |  | $ | — |  | $ | 1,674 |
Current portion of asbestos liability |  |  | 165 |  |  |  |  |  |  |  |  |  |  |  | 165 |
Short-term loans and long-term debt due within one year |  |  |  |  |  |  |  |  | 406 |  |  |  |  |  | 406 |
Total current liabilities |  |  | 165 |  |  | — |  |  | 2,080 |  |  | — |  |  | 2,245 |
Long-term debt |  |  | 250 |  |  |  |  |  | 3,627 |  |  | (250 | ) |  | 3,627 |
Asbestos-related liabilities |  |  | 306 |  |  |  |  |  |  |  |  |  |  |  | 306 |
Other non-current liabilities |  |  |  |  |  |  |  |  | 1,756 |  |  |  |  |  | 1,756 |
Total share owners' equity of the Company |  |  | 839 |  |  | 1,310 |  |  | 1,310 |  |  | (2,620 | ) |  | 839 |
Noncontrolling interests |  |  |  |  |  |  |  |  | 153 |  |  |  |  |  | 153 |
Total liabilities and share owners' equity |  | $ | 1,560 |  | $ | 1,310 |  | $ | 8,926 |  | $ | (2,870 | ) | $ | 8,926 |
|  | December 31, 2010 |
--- | --- | --- | ---
Balance Sheet |  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | — |  | $ | — |  | $ | 1,075 |  | $ | — |  | $ | 1,075 |
Inventories |  |  |  |  |  |  |  |  | 946 |  |  |  |  |  | 946 |
Other current assets |  |  |  |  |  |  |  |  | 717 |  |  |  |  |  | 717 |
Total current assets |  |  | — |  |  | — |  |  | 2,738 |  |  | — |  |  | 2,738 |
Investments in and advances to subsidiaries |  |  | 2,541 |  |  | 2,291 |  |  |  |  |  | (4,832 | ) |  | — |
Goodwill |  |  |  |  |  |  |  |  | 2,821 |  |  |  |  |  | 2,821 |
Other non-current assets |  |  |  |  |  |  |  |  | 1,088 |  |  |  |  |  | 1,088 |
Total other assets |  |  | 2,541 |  |  | 2,291 |  |  | 3,909 |  |  | (4,832 | ) |  | 3,909 |
Property, plant and equipment, net |  |  |  |  |  |  |  |  | 3,107 |  |  |  |  |  | 3,107 |
Total assets |  | $ | 2,541 |  | $ | 2,291 |  | $ | 9,754 |  | $ | (4,832 | ) | $ | 9,754 |
Current liabilities : |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities |  | $ | — |  | $ | — |  | $ | 1,555 |  | $ | — |  | $ | 1,555 |
Current portion of asbestos liability |  |  | 170 |  |  |  |  |  |  |  |  |  |  |  | 170 |
Short-term loans and long-term debt due within one year |  |  |  |  |  |  |  |  | 354 |  |  |  |  |  | 354 |
Total current liabilities |  |  | 170 |  |  | — |  |  | 1,909 |  |  | — |  |  | 2,079 |
Long-term debt |  |  | 250 |  |  |  |  |  | 3,924 |  |  | (250 | ) |  | 3,924 |
Asbestos-related liabilities |  |  | 306 |  |  |  |  |  |  |  |  |  |  |  | 306 |
Other non-current liabilities |  |  |  |  |  |  |  |  | 1,419 |  |  |  |  |  | 1,419 |
Total share owners' equity of the Company |  |  | 1,815 |  |  | 2,291 |  |  | 2,291 |  |  | (4,582 | ) |  | 1,815 |
Noncontrolling interests |  |  |  |  |  |  |  |  | 211 |  |  |  |  |  | 211 |
Total liabilities and share owners' equity |  | $ | 2,541 |  | $ | 2,291 |  | $ | 9,754 |  | $ | (4,832 | ) | $ | 9,754 |
Results of Operations |
|  | Year ended December 31, 2011 |
--- | --- | --- | ---
Results of Operations |  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Net sales |  | $ | — |  | $ | — |  | $ | 7,358 |  | $ | — |  | $ | 7,358 |
Manufacturing, shipping, and delivery |  |  |  |  |  |  |  |  | (5,979 | ) |  |  |  |  | (5,979 | )
Gross profit |  |  | — |  |  | — |  |  | 1,379 |  |  | — |  |  | 1,379 |
Research, engineering, selling, administrative, and other |  |  | (165 | ) |  |  |  |  | (1,410 | ) |  |  |  |  | (1,575 | )
External interest expense |  |  | (20 | ) |  |  |  |  | (294 | ) |  |  |  |  | (314 | )
Intercompany interest expense |  |  |  |  |  | (20 | ) |  | (20 | ) |  | 40 |  |  | — |
External interest income |  |  |  |  |  |  |  |  | 11 |  |  |  |  |  | 11 |
Intercompany interest income |  |  | 20 |  |  | 20 |  |  |  |  |  | (40 | ) |  | — |
Equity earnings from subsidiaries |  |  | (345 | ) |  | (345 | ) |  |  |  |  | 690 |  |  | — |
Other equity earnings |  |  |  |  |  |  |  |  | 66 |  |  |  |  |  | 66 |
Other revenue |  |  |  |  |  |  |  |  | 27 |  |  |  |  |  | 27 |
Earnings (loss) before income taxes |  |  | (510 | ) |  | (345 | ) |  | (241 | ) |  | 690 |  |  | (406 | )
Provision for income taxes |  |  |  |  |  |  |  |  | (85 | ) |  |  |  |  | (85 | )
Earnings (loss) from continuing operations |  |  | (510 | ) |  | (345 | ) |  | (326 | ) |  | 690 |  |  | (491 | )
Earnings from discontinued operations |  |  |  |  |  |  |  |  | 1 |  |  | — |  |  | 1 |
Net earnings (loss) |  |  | (510 | ) |  | (345 | ) |  | (325 | ) |  | 690 |  |  | (490 | )
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (20 | ) |  |  |  |  | (20 | )
Net earnings (loss) attributable to the Company |  | $ | (510 | ) | $ | (345 | ) | $ | (345 | ) | $ | 690 |  | $ | (510 | )
|  | Year ended December 31, 2010 |
--- | --- | --- | ---
Results of Operations |  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Net sales |  | $ | — |  | $ | — |  | $ | 6,633 |  | $ | — |  | $ | 6,633 |
Manufacturing, shipping, and delivery |  |  |  |  |  |  |  |  | (5,283 | ) |  |  |  |  | (5,283 | )
Gross profit |  |  | — |  |  | — |  |  | 1,350 |  |  | — |  |  | 1,350 |
Research, engineering, selling, administrative, and other |  |  | (170 | ) |  |  |  |  | (611 | ) |  |  |  |  | (781 | )
External interest expense |  |  | (21 | ) |  |  |  |  | (228 | ) |  |  |  |  | (249 | )
Intercompany interest expense |  |  |  |  |  | (21 | ) |  | (21 | ) |  | 42 |  |  | — |
External interest income |  |  |  |  |  |  |  |  | 13 |  |  |  |  |  | 13 |
Intercompany interest income |  |  | 21 |  |  | 21 |  |  |  |  |  | (42 | ) |  | — |
Equity earnings from subsidiaries |  |  | 109 |  |  | 109 |  |  |  |  |  | (218 | ) |  | — |
Other equity earnings |  |  |  |  |  |  |  |  | 59 |  |  |  |  |  | 59 |
Other revenue |  |  |  |  |  |  |  |  | 32 |  |  |  |  |  | 32 |
Earnings before income taxes |  |  | (61 | ) |  | 109 |  |  | 594 |  |  | (218 | ) |  | 424 |
Provision for income taxes |  |  | 8 |  |  |  |  |  | (137 | ) |  |  |  |  | (129 | )
Earnings (loss) from continuing operations |  |  | (53 | ) |  | 109 |  |  | 457 |  |  | (218 | ) |  | 295 |
Earnings from discontinued operations |  |  |  |  |  |  |  |  | 31 |  |  | — |  |  | 31 |
Loss on disposal of discontinued operations |  |  | 6 |  |  |  |  |  | (337 | ) |  |  |  |  | (331 | )
Net earnings (loss) |  |  | (47 | ) |  | 109 |  |  | 151 |  |  | (218 | ) |  | (5 | )
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (42 | ) |  |  |  |  | (42 | )
Net earnings (loss) attributable to the Company |  | $ | (47 | ) | $ | 109 |  | $ | 109 |  | $ | (218 | ) | $ | (47 | )
|  | Year ended December 31, 2009 |
--- | --- | --- | ---
Results of Operations |  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Net sales |  | $ | — |  | $ | — |  | $ | 6,652 |  | $ | — |  | $ | 6,652 |
Manufacturing, shipping, and delivery |  |  |  |  |  |  |  |  | (5,317 | ) |  |  |  |  | (5,317 | )
Gross profit |  |  | — |  |  | — |  |  | 1,335 |  |  | — |  |  | 1,335 |
Research, engineering, selling, administrative, and other |  |  | (180 | ) |  |  |  |  | (813 | ) |  |  |  |  | (993 | )
External interest expense |  |  | (39 | ) |  |  |  |  | (183 | ) |  |  |  |  | (222 | )
Intercompany interest expense |  |  |  |  |  | (39 | ) |  | (39 | ) |  | 78 |  |  | — |
External interest income |  |  |  |  |  |  |  |  | 18 |  |  |  |  |  | 18 |
Intercompany interest income |  |  | 39 |  |  | 39 |  |  |  |  |  | (78 | ) |  | — |
Equity earnings from subsidiaries |  |  | 249 |  |  | 249 |  |  |  |  |  | (498 | ) |  | — |
Other equity earnings |  |  |  |  |  |  |  |  | 53 |  |  |  |  |  | 53 |
Other revenue |  |  |  |  |  |  |  |  | 24 |  |  |  |  |  | 24 |
Earnings before income taxes |  |  | 69 |  |  | 249 |  |  | 395 |  |  | (498 | ) |  | 215 |
Provision for income taxes |  |  | 27 |  |  |  |  |  | (110 | ) |  |  |  |  | (83 | )
Earnings from continuing operations |  |  | 96 |  |  | 249 |  |  | 285 |  |  | (498 | ) |  | 132 |
Earnings from discontinued operations |  |  | 66 |  |  | 66 |  |  | 66 |  |  | (132 | ) |  | 66 |
Net earnings |  |  | 162 |  |  | 315 |  |  | 351 |  |  | (630 | ) |  | 198 |
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (36 | ) |  |  |  |  | (36 | )
Net earnings attributable to the Company |  | $ | 162 |  | $ | 315 |  | $ | 315 |  | $ | (630 | ) | $ | 162 |
Cash Flows |
|  | Year ended December 31, 2011 |
--- | --- | --- | ---
Cash Flows |  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Cash provided by (utilized in) operating activities |  | $ | (170 | ) | $ | — |  | $ | 673 |  | $ | — |  | $ | 503 |
Cash utilized in investing activities |  |  |  |  |  |  |  |  | (426 | ) |  |  |  |  | (426 | )
Cash provided by (utilized in) financing activities |  |  | 170 |  |  |  |  |  | (493 | ) |  |  |  |  | (323 | )
Effect of exchange rate change on cash |  |  |  |  |  |  |  |  | 6 |  |  |  |  |  | 6 |
Net change in cash |  |  | — |  |  | — |  |  | (240 | ) |  | — |  |  | (240 | )
Cash at beginning of period |  |  |  |  |  |  |  |  | 640 |  |  |  |  |  | 640 |
Cash at end of period |  | $ | — |  | $ | — |  | $ | 400 |  | $ | — |  | $ | 400 |
|  | Year ended December 31, 2010 |
--- | --- | --- | ---
Cash Flows |  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Cash provided by (utilized in) operating activities |  | $ | (179 | ) | $ | — |  | $ | 771 |  | $ | — |  | $ | 592 |
Cash utilized in investing activities |  |  |  |  |  |  |  |  | (1,314 | ) |  |  |  |  | (1,314 | )
Cash provided by financing activities |  |  | 179 |  |  |  |  |  | 368 |  |  |  |  |  | 547 |
Effect of exchange rate change on cash |  |  |  |  |  |  |  |  | 3 |  |  |  |  |  | 3 |
Net change in cash |  |  | — |  |  | — |  |  | (172 | ) |  | — |  |  | (172 | )
Cash at beginning of period |  |  |  |  |  |  |  |  | 812 |  |  |  |  |  | 812 |
Cash at end of period |  | $ | — |  | $ | — |  | $ | 640 |  | $ | — |  | $ | 640 |
|  | Year ended December 31, 2009 |
--- | --- | --- | ---
Cash Flows |  | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
Cash provided by (utilized in) operating activities |  | $ | (190 | ) | $ | — |  | $ | 990 |  | $ | — |  | $ | 800 |
Cash utilized in investing activities |  |  |  |  |  |  |  |  | (418 | ) |  |  |  |  | (418 | )
Cash provided by (utilized in) financing activities |  |  | 190 |  |  |  |  |  | (76 | ) |  |  |  |  | 114 |
Effect of exchange rate change on cash |  |  |  |  |  |  |  |  | (64 | ) |  |  |  |  | (64 | )
Net change in cash |  |  | — |  |  | — |  |  | 432 |  |  | — |  |  | 432 |
Cash at beginning of period |  |  |  |  |  |  |  |  | 380 |  |  |  |  |  | 380 |
Cash at end of period |  | $ | — |  | $ | — |  | $ | 812 |  | $ | — |  | $ | 812 |

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