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Financial Information for Subsidiary Guarantors and Non-Guarantors

12 Months Ended

Dec. 31, 2011

Financial Information for Subsidiary Guarantors and Non-Guarantors

Financial Information for Subsidiary Guarantors and Non-Guarantors

23. Financial Information for Subsidiary Guarantors and Non-Guarantors

        The following presents condensed consolidating financial information for the Company, segregating: (1) Owens-Illinois, Inc., the issuer of two series of senior notes and debentures (the "Parent"); (2) the two subsidiaries which have guaranteed the senior notes and debentures on a subordinated basis (the "Guarantor Subsidiaries"); and (3) all other subsidiaries (the "Non-Guarantor Subsidiaries"). The Guarantor Subsidiaries are 100% owned direct and indirect subsidiaries of the Company and their guarantees are full, unconditional and joint and several. They have no operations and function only as intermediate holding companies.

        Wholly-owned subsidiaries are presented on the equity basis of accounting. Certain reclassifications have been made to conform all of the financial information to the financial presentation on a consolidated basis. The principal eliminations relate to investments in subsidiaries and inter-company balances and transactions.

		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

		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

		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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- Definition

This element represents the disclosure of 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.

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