Financial Information for Subsidiary Guarantors and Non-Guarantors (Tables)

12 Months Ended

Dec. 31, 2014

	December 31, 2014
Balance Sheet	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—	$	512	$	—		$	512
Receivables						744					744
Inventories						1,035					1,035
Prepaid expenses						80					80

Total current assets		—		—		2,371		—			2,371
Investments in and advances to subsidiaries		1,863		1,593				(3,456	)		—
Property, plant and equipment, net						2,445					2,445
Goodwill						1,893					1,893
Other assets						1,149					1,149

Total assets	$	1,863	$	1,593	$	7,858	$	(3,456	)	$	7,858


Current liabilities:
Short-term loans and long-term debt due within one year	$	—	$	—	$	488	$	—		$	488
Current portion of asbestos liability		143									143
Accounts payable						1,137					1,137
Other liabilities		20				560		(20	)		560

Total current liabilities		163		—		2,185		(20	)		2,328
Long-term debt		250				2,972		(250	)		2,972
Asbestos-related liabilities		292									292
Other long-term liabilities						991					991
Share owners' equity		1,158		1,593		1,593		(3,186	)		1,158
Noncontrollling interest						117					117

Total liabilities and share owners' equity	$	1,863	$	1,593	$	7,858	$	(3,456	)	$	7,858

	December 31, 2013
Balance Sheet	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—	$	383	$	—		$	383
Receivables						943					943
Inventories						1,117					1,117
Prepaid expenses						107					107

Total current assets		—		—		2,550		—			2,550
Investments in and advances to subsidiaries		2,154		1,904				(4,058	)		—
Property, plant and equipment, net						2,632					2,632
Goodwill						2,059					2,059
Other assets						1,178					1,178

Total assets	$	2,154	$	1,904	$	8,419	$	(4,058	)	$	8,419


Current liabilities:
Short-term loans and long-term debt due within one year	$	—	$	—	$	322	$	—		$	322
Current portion of asbestos liability		150									150
Accounts payable						1,144					1,144
Other liabilities						638					638

Total current liabilities		150		—		2,104		—			2,254
Long-term debt		250				3,245		(250	)		3,245
Asbestos-related liabilities		298									298
Other long-term liabilities						1,019					1,019
Share owners' equity		1,456		1,904		1,904		(3,808	)		1,456
Noncontrolling interests						147					147

Total liabilities and share owners' equity	$	2,154	$	1,904	$	8,419	$	(4,058	)	$	8,419

	Year ended December 31, 2014
Results of Operations	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	6,784		$	—		$	6,784
Cost of goods sold							(5,531	)					(5,531	)

Gross profit		—			—		1,253			—			1,253
Selling and administrative expense							(523	)					(523	)
Research, development and engineering expense							(63	)					(63	)
Net intercompany interest		20					(20	)					—
Interest expense, net		(20	)				(210	)					(230	)
Equity earnings from subsidiaries		210			210					(420	)		—
Other equity earnings							64						64
Other expense, net		(135	)				(148	)					(283	)

Earnings before income taxes		75			210		353			(420	)		218
Provision for income taxes							(92	)					(92	)

Earnings from continuing operations		75			210		261			(420	)		126
Loss from discontinued operations							(23	)					(23	)

Net earnings		75			210		238			(420	)		103
Net earnings attributable to noncontrolling interests							(28	)					(28	)

Net earnings attributable to the Company	$	75		$	210	$	210		$	(420	)	$	75

	Year ended December 31, 2014
Comprehensive Income	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	75		$	210		$	238		$	(420	)	$	103
Other comprehensive income (loss)		(394	)		(394	)		(394	)		788			(394	)

Total comprehensive income (loss)		(319	)		(184	)		(156	)		368			(291	)
Comprehensive income attributable to noncontrolling interests		21						(7	)		(21)			(7	)

Comprehensive income (loss) attributable to the Company	$	(298	)	$	(184	)	$	(163	)	$	347		$	(298	)

	Year ended December 31, 2013
Results of Operations	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	6,967		$	—		$	6,967
Cost of goods sold							(5,636	)					(5,636	)

Gross profit		—			—		1,331			—			1,331
Selling and administrative expense							(506	)					(506	)
Research, development and engineering expense							(62	)					(62	)
Net intercompany interest		20					(20	)
Interest expense, net		(20	)				(209	)					(229	)
Equity earnings from subsidiaries		329			329					(658	)
Other equity earnings							67						67
Other expense, net		(145	)				(121	)					(266	)

Earnings before income taxes		184			329		480			(658	)		335
Provision for income taxes							(120	)					(120	)

Earnings from continuing operations		184			329		360			(658	)		215
Loss from discontinued operations							(18	)					(18	)

Net earnings		184			329		342			(658	)		197
Net earnings attributable to noncontrolling interests							(13	)					(13	)

Net earnings attributable to the Company	$	184		$	329	$	329		$	(658	)	$	184

	Year ended December 31, 2013
Comprehensive Income	Parent		Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	184	$	329	$	342		$	(658	)	$	197
Other comprehensive income (loss)		379		379		379			(758	)		379

Total comprehensive income (loss)		563		708		721			(1,416	)		576
Comprehensive income attributable to noncontrolling interests		6				(7	)		(6)			(7	)

Comprehensive income (loss) attributable to the Company	$	569	$	708	$	714		$	(1,422	)	$	569

	Year ended December 31, 2012
Results of Operations	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	—	$	7,000		$	—		$	7,000
Cost of goods sold							(5,626	)					(5,626	)

Gross profit		—			—		1,374			—			1,374
Selling and administrative expense							(555	)					(555	)
Research, development and engineering expense							(62	)					(62	)
Net intercompany interest		20					(20	)
Interest expense, net		(20	)				(219	)					(239	)
Equity earnings from subsidiaries		339			339					(678	)
Other equity earnings							64						64
Other expense, net		(155	)				(99	)					(254	)

Earnings before income taxes		184			339		483			(678	)		328
Provision for income taxes							(108	)					(108	)

Earnings from continuing operations		184			339		375			(678	)		220
Loss from discontinued operations							(2	)					(2	)

Net earnings		184			339		373			(678	)		218
Net earnings attributable to noncontrolling interests							(34	)					(34	)

Net earnings attributable to the Company	$	184		$	339	$	339		$	(678	)	$	184


	Year ended December 31, 2012
Comprehensive Income	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings (loss)	$	184		$	339		$	373		$	(678	)	$	218
Other comprehensive income		(177	)		(177	)		(177	)		354			(177	)

Total comprehensive income		7			162			196			(324	)		41
Comprehensive income attributable to noncontrolling interests		(8)						(42	)		8			(42	)

Comprehensive income attributable to the Company	$	(1)		$	162		$	154		$	(316	)	$	(1	)

	Year ended December 31, 2014
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(148	)	$	—	$	823		$	—	$	675
Cash utilized in investing activities							(455	)				(455	)
Cash provided by (utilized in) financing activities		148					(218	)				(70	)
Effect of exchange rate change on cash							(21	)				(21	)

Net change in cash		—			—		129			—		129
Cash at beginning of period							383					383

Cash at end of period	$	—		$	—	$	512		$	—	$	512

	Year ended December 31, 2013
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(158	)	$	—	$	840		$	—	$	682
Cash utilized in investing activities							(402	)				(402	)
Cash provided by (utilized in) financing activities		158					(479	)				(321	)
Effect of exchange rate change on cash							(7	)				(7	)

Net change in cash		—			—		(48	)		—		(48	)
Cash at beginning of period							431					431

Cash at end of period	$	—		$	—	$	383		$	—	$	383

	Year ended December 31, 2012
Cash Flows	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations		Consolidated
Cash provided by (utilized in) operating activities	$	(165	)	$	—	$	740		$	—	$	575
Cash utilized in investing activities							(221	)				(221	)
Cash provided by (utilized in) financing activities		165					(504	)				(339	)
Effect of exchange rate change on cash							16					16

Net change in cash		—			—		31			—		31
Cash at beginning of period							400					400

Cash at end of period	$	—		$	—	$	431		$	—	$	431