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

9 Months Ended

Sep. 30, 2015

Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract]

Balance Sheet

		September 30, 2015
					Guarantor			Non-Guarantor
Balance Sheet		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Current assets:
Cash and cash equivalents		$	—		$	—		$	270		$			$	270
Receivables									1,108						1,108
Inventories									1,023						1,023
Prepaid expenses									87						87
Total current assets			—			—			2,488			—			2,488
Investments in and advances to subsidiaries			1,403			1,146						(2,549)
Property, plant and equipment, net									2,874						2,874
Goodwill									2,797						2,797
Other assets									1,395						1,395
Total assets		$	1,403		$	1,146		$	9,554		$	(2,549)		$	9,554
Current liabilities :
Short-term loans and long-term debt due within one year		$	—		$	—		$	250		$	—		$	250
Current portion of asbestos liability			143												143
Accounts payable									1,004						1,004
Other liabilities			7						527			(7)			527
Total current liabilities			150			—			1,781			(7)			1,924
Long-term debt			250						5,609			(250)			5,609
Asbestos-related liabilities			235												235
Other long-term liabilities									908						908
Share owners’ equity			768			1,146			1,146			(2,292)			768
Noncontrolling interests									110						110
Total liabilities and share owners’ equity		$	1,403		$	1,146		$	9,554		$	(2,549)		$	9,554

		December 31, 2014
								Non-
					Guarantor			Guarantor
Balance Sheet		Parent			Subsidiaries			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									1,134						1,134
Total assets		$	1,863		$	1,593		$	7,843		$	(3,456)		$	7,843
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						2,957			(250)			2,957
Asbestos-related liabilities			292												292
Other long-term liabilities									991						991
Total Share owners’ equity of the Company			1,158			1,593			1,593			(3,186)			1,158
Noncontrolling interest									117						117
Total liabilities and share owners’ equity		$	1,863		$	1,593		$	7,843		$	(3,456)		$	7,843

		September 30, 2014
								Non-
					Guarantor			Guarantor
Balance Sheet		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Current assets:
Cash  and cash equivalents		$	—		$	—		$	264		$	—		$	264
Receivables									1,042						1,042
Inventories									1,112						1,112
Prepaid  expenses									105						105
Total current assets			—			—			2,523			—			2,523
Investments in and advances to subsidiaries			2,325			2,075						(4,400)
Property, plant and equipment, net									2,499						2,499
Goodwill									1,960						1,960
Other assets									1,159						1,159
Total assets		$	2,325		$	2,075		$	8,141		$	(4,400)		$	8,141
Current liabilities :
Short-term loans and long-term debt due within one year		$	—		$	—		$	1,065		$	—		$	1,065
Current portion of asbestos liability			150												150
Accounts payable									1,027						1,027
Other liabilities									544						544
Total current liabilities			150						2,636						2,786
Long-term debt			250						2,419			(250)			2,419
Asbestos-related liabilities			226												226
Other long-term liabilities									887						887
Share owners’ equity			1,699			2,075			2,075			(4,150)			1,699
Noncontrolling interests									124						124
Total liabilities and share owners’ equity		$	2,325		$	2,075		$	8,141		$	(4,400)		$	8,141

Results of Operations and Comprehensive Income

		Three months ended  September 30, 2015
								Non-
					Guarantor			Guarantor
Results of Operations		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales		$	—		$	—		$	1,566		$	—		$	1,566
Cost of goods sold									(1,290)						(1,290)
Gross profit			—			—			276			—			276
Selling and administrative expense									(109)						(109)
Research, development and engineering expense									(15)						(15)
Net intercompany interest			5						(5)
Interest expense, net			(5)						(62)						(67)
Equity earnings from subsidiaries			17			17						(34)
Other equity earnings									17						17
Other expense, net									(44)						(44)
Earnings before income taxes			17			17			58			(34)			58
Provision for income taxes									(33)						(33)
Earnings from continuing operations			17			17			25			(34)			25
Loss from discontinued operations									(1)						(1)
Net earnings			17			17			24			(34)			24
Net earnings attributable to noncontrolling interests									(7)						(7)
Net earnings attributable to the Company		$	17		$	17		$	17		$	(34)		$	17

		Three months ended  September 30, 2015
								Non-
					Guarantor			Guarantor
Comprehensive Income		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings		$	17		$	17		$	24		$	(34)		$	24
Other comprehensive income, net			(235)			(235)			(243)			470			(243)
Total comprehensive loss			(218)			(218)			(219)			436			(219)
Comprehensive income attributable to noncontrolling interests									1						1
Comprehensive income (loss) attributable to the Company		$	(218)		$	(218)		$	(218)		$	436		$	(218)

		Three months ended  September 30, 2014
								Non-
					Guarantor			Guarantor
Results of Operations		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales		$	—		$	—		$	1,745		$	—		$	1,745
Cost of goods sold									(1,408)						(1,408)
Gross profit			—			—			337			—			337
Selling and administrative expense									(118)						(118)
Research, development and engineering expense									(15)						(15)
Net intercompany interest			5						(5)						—
Interest expense, net			(5)						(48)						(53)
Equity earnings from subsidiaries			60			60						(120)			—
Other equity earnings									13						13
Other expense, net									(73)						(73)
Earnings before income taxes			60			60			91			(120)			91
Provision for income taxes									(23)						(23)
Earnings from continuing operations			60			60			68			(120)			68
Loss from discontinued operations									(1)						(1)
Net earnings			60			60			67			(120)			67
Net earnings attributable to noncontrolling interests									(7)						(7)
Net earnings attributable to the Company		$	60		$	60		$	60		$	(120)		$	60

		Three months ended  September 30, 2014
								Non-
					Guarantor			Guarantor
Comprehensive Income		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings		$	60		$	60		$	67		$	(120)		$	67
Other comprehensive income, net			(165)			(165)			(168)			330			(168)
Total comprehensive loss			(105)			(105)			(101)			210			(101)
Comprehensive income attributable to noncontrolling interests									(4)						(4)
Comprehensive loss attributable to the Company		$	(105)		$	(105)		$	(105)		$	210		$	(105)

		Nine months ended September 30, 2015
								Non-
					Guarantor			Guarantor
Results of Operations		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales		$	—		$	—		$	4,530		$	—		$	4,530
Cost of goods sold									(3,712)						(3,712)
Gross profit			—			—			818			—			818
Selling and administrative expense									(351)						(351)
Research,development and engineering expense									(46)						(46)
Net intercompany interest			15						(15)
Interest expense, net			(15)						(173)						(188)
Equity earnings from subsidiaries			128			128						(256)
Other equity earnings									46						46
Other expense, net									(59)						(59)
Earnings before income taxes			128			128			220			(256)			220
Provision for income taxes									(73)						(73)
Earnings from continuing operations			128			128			147			(256)			147
Loss from discontinued operations									(3)						(3)
Net earnings			128			128			144			(256)			144
Net earnings attributable to noncontrolling interests									(16)						(16)
Net earnings attributable to the Company		$	128		$	128		$	128		$	(256)		$	128

		Nine months ended September 30, 2015
								Non-
					Guarantor			Guarantor
Comprehensive Income		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings		$	128		$	128		$	144		$	(256)		$	144
Other comprehensive income, net			(418)			(418)			(434)			836			(434)
Total comprehensive loss			(290)			(290)			(290)			580			(290)
Comprehensive income attributable to noncontrolling interests
Comprehensive loss attributable to the Company		$	(290)		$	(290)		$	(290)		$	580		$	(290)

		Nine months ended September 30, 2014
								Non-
					Guarantor			Guarantor
Results of Operations		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net sales		$	-		$	-		$	5,181		$	-		$	5,181
Cost of goods sold									(4,165)						(4,165)
Gross profit			-			-			1,016			-			1,016
Selling and administrative expense									(382)						(382)
Research,development and engineering expense									(47)						(47)
Net intercompany interest			15						(15)						-
Interest expense, net			(15)						(146)						(161)
Equity earnings from subsidiaries			275			275						(550)			-
Other equity earnings									48						48
Other expense, net									(70)						(70)
Earnings before income taxes			275			275			404			(550)			404
Provision for income taxes									(89)						(89)
Earnings from continuing operations			275			275			315			(550)			315
Loss from discontinued operations									(22)						(22)
Net earnings			275			275			293			(550)			293
Net earnings attributable to noncontrolling interests									(18)						(18)
Net earnings attributable to the Company		$	275		$	275		$	275		$	(550)		$	275

		Nine months ended September 30, 2014
								Non-
					Guarantor			Guarantor
Comprehensive Income		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Net earnings		$	275		$	275		$	293		$	(550)		$	293
Other comprehensive income, net			(46)			(46)			(50)			92			(50)
Total comprehensive income			229			229			243			(458)			243
Comprehensive income attributable to noncontrolling interests									(14)						(14)
Comprehensive income attributable to the Company		$	229		$	229		$	229		$	(458)		$	229

Cash Flows

		Nine months ended September 30, 2015
								Non-
					Guarantor			Guarantor
Cash Flows		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided by (utilized in) operating activities		$	(58)		$	—		$	161		$	—		$	103
Cash utilized in investing activities									(2,638)						(2,638)
Cash provided by financing activities			58						2,264						2,322
Effect of exchange rate change on cash									(29)						(29)
Net change in cash			—			—			(242)			—			(242)
Cash at beginning of period									512						512
Cash at end of period		$	—		$	—		$	270		$	—		$	270

		Nine months ended September 30, 2014
								Non-
					Guarantor			Guarantor
Cash Flows		Parent			Subsidiaries			Subsidiaries			Eliminations			Consolidated
Cash provided by (utilized in) operating activities		$	(72)		$	—		$	259		$	—		$	187
Cash utilized in investing activities									(269)						(269)
Cash provided by (utilized in) financing activities			72						(99)						(27)
Effect of exchange rate change on cash									(10)						(10)
Net change in cash			—			—			(119)			—			(119)
Cash at beginning of period									383						383
Cash at end of period		$	—		$	—		$	264		$	—		$	264

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