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Financial Information for Subsidiary Guarantors and Non-Guarantors | 12 Months Ended
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Dec. 31, 2015
Financial Information for Subsidiary Guarantors and Non-Guarantors Disclosure [Abstract] |
Financial Information for Subsidiary Guarantors and Non-Guarantors | 22. 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 senior debentures (the “Parent”); (2) the two subsidiaries which have guaranteed the senior 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. 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 intercompany balances and transactions.
|  | December 31, 2015 |
|  | Parent |  | Guarantor |  | Non-Guarantor |  |  |  |  | Consolidated |
Balance Sheet |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 399 |  | $ | — |  | $ | 399 |
Trade receivables, net |  |  |  |  |  |  |  |  | 562 |  |  |  |  |  | 562 |
Inventories |  |  |  |  |  |  |  |  | 1,007 |  |  |  |  |  | 1,007 |
Prepaid expenses and other current assets |  |  |  |  |  |  |  |  | 366 |  |  |  |  |  | 366 |
Total current assets |  |  | — |  |  | — |  |  | 2,334 |  |  | — |  |  | 2,334 |
Investments in and advances to subsidiaries |  |  | 1,240 |  |  | 988 |  |  |  |  |  | (2,228) |  |  | — |
Property, plant and equipment, net |  |  |  |  |  |  |  |  | 2,961 |  |  |  |  |  | 2,961 |
Intangibles |  |  |  |  |  |  |  |  | 597 |  |  |  |  |  | 597 |
Goodwill |  |  |  |  |  |  |  |  | 2,489 |  |  |  |  |  | 2,489 |
Other assets |  |  |  |  |  |  |  |  | 1,040 |  |  |  |  |  | 1,040 |
Total assets |  | $ | 1,240 |  | $ | 988 |  | $ | 9,421 |  | $ | (2,228) |  | $ | 9,421 |
Current liabilities : |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term loans and long-term debt due within one year |  | $ | — |  | $ | — |  | $ | 228 |  | $ | — |  | $ | 228 |
Current portion of asbestos liability |  |  | 130 |  |  |  |  |  |  |  |  |  |  |  | 130 |
Accounts payable |  |  |  |  |  |  |  |  | 1,212 |  |  |  |  |  | 1,212 |
Other liabilities |  |  | 2 |  |  |  |  |  | 552 |  |  | (2) |  |  | 552 |
Total current liabilities |  |  | 132 |  |  | — |  |  | 1,992 |  |  | (2) |  |  | 2,122 |
Long-term debt |  |  | 250 |  |  |  |  |  | 5,345 |  |  | (250) |  |  | 5,345 |
Asbestos-related liabilities |  |  | 687 |  |  |  |  |  |  |  |  |  |  |  | 687 |
Other long-term liabilities |  |  |  |  |  |  |  |  | 988 |  |  |  |  |  | 988 |
Share owners’ equity |  |  | 171 |  |  | 988 |  |  | 988 |  |  | (1,976) |  |  | 171 |
Noncontrolling interests |  |  |  |  |  |  |  |  | 108 |  |  |  |  |  | 108 |
Total liabilities and share owners’ equity |  | $ | 1,240 |  | $ | 988 |  | $ | 9,421 |  | $ | (2,228) |  | $ | 9,421 |
| (1) |  | See Note 1 for restatement information.
|  | December 31, 2014 |
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Balance Sheet |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  | $ | — |  | $ | 512 |  | $ | — |  | $ | 512 |
Trade receivables, net |  |  |  |  |  |  |  |  | 550 |  |  |  |  |  | 550 |
Inventories |  |  |  |  |  |  |  |  | 1,035 |  |  |  |  |  | 1,035 |
Prepaid expenses and other current assets |  |  |  |  |  |  |  |  | 274 |  |  |  |  |  | 274 |
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 |  |  | 796 |  |  |  |  |  |  |  |  |  |  |  | 796 |
Other long-term liabilities |  |  |  |  |  |  |  |  | 991 |  |  |  |  |  | 991 |
Share owners’ equity |  |  | 654 |  |  | 1,593 |  |  | 1,593 |  |  | (3,186) |  |  | 654 |
Noncontrolling interests |  |  |  |  |  |  |  |  | 117 |  |  |  |  |  | 117 |
Total liabilities and share owners’ equity |  | $ | 1,863 |  | $ | 1,593 |  | $ | 7,843 |  | $ | (3,456) |  | $ | 7,843 |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2015 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Results of Operations |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Net sales |  | $ |  |  | $ |  |  | $ | 6,156 |  | $ |  |  | $ | 6,156 |
Cost of goods sold |  |  |  |  |  |  |  |  | (5,046) |  |  |  |  |  | (5,046) |
Gross profit |  |  |  |  |  |  |  |  | 1,110 |  |  |  |  |  | 1,110 |
Selling and administrative expense |  |  |  |  |  |  |  |  | (476) |  |  |  |  |  | (476) |
Research, development and engineering expense |  |  |  |  |  |  |  |  | (64) |  |  |  |  |  | (64) |
Net intercompany interest |  |  | 20 |  |  |  |  |  | (20) |  |  |  |  |  | — |
Interest expense, net |  |  | (20) |  |  |  |  |  | (231) |  |  |  |  |  | (251) |
Equity earnings from subsidiaries |  |  | 151 |  |  | 151 |  |  |  |  |  | (302) |  |  | — |
Other equity earnings |  |  |  |  |  |  |  |  | 60 |  |  |  |  |  | 60 |
Other expense, net |  |  | (16) |  |  |  |  |  | (95) |  |  |  |  |  | (111) |
Earnings before income taxes |  |  | 135 |  |  | 151 |  |  | 284 |  |  | (302) |  |  | 268 |
Provision for income taxes |  |  |  |  |  |  |  |  | (106) |  |  |  |  |  | (106) |
Earnings from continuing operations |  |  | 135 |  |  | 151 |  |  | 178 |  |  | (302) |  |  | 162 |
Loss from discontinued operations |  |  |  |  |  |  |  |  | (4) |  |  |  |  |  | (4) |
Net earnings |  |  | 135 |  |  | 151 |  |  | 174 |  |  | (302) |  |  | 158 |
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (23) |  |  |  |  |  | (23) |
Net earnings attributable to the Company |  | $ | 135 |  | $ | 151 |  | $ | 151 |  | $ | (302) |  | $ | 135 |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2015 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Comprehensive Income |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Net earnings |  | $ | 135 |  | $ | 151 |  | $ | 174 |  | $ | (302) |  | $ | 158 |
Other comprehensive loss, net |  |  | (539) |  |  | (539) |  |  | (539) |  |  | 1,078 |  |  | (539) |
Total comprehensive loss |  |  | (404) |  |  | (388) |  |  | (365) |  |  | 776 |  |  | (381) |
Comprehensive income attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (7) |  |  |  |  |  | (7) |
Comprehensive loss attributable to the Company |  | $ | (404) |  | $ | (388) |  | $ | (372) |  | $ | 776 |  | $ | (388) |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2014 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Results of Operations |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
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 |  |  | (46) |  |  |  |  |  | (148) |  |  |  |  |  | (194) |
Earnings before income taxes |  |  | 164 |  |  | 210 |  |  | 353 |  |  | (420) |  |  | 307 |
Provision for income taxes |  |  |  |  |  |  |  |  | (92) |  |  |  |  |  | (92) |
Earnings from continuing operations |  |  | 164 |  |  | 210 |  |  | 261 |  |  | (420) |  |  | 215 |
Loss from discontinued operations |  |  |  |  |  |  |  |  | (23) |  |  |  |  |  | (23) |
Net earnings |  |  | 164 |  |  | 210 |  |  | 238 |  |  | (420) |  |  | 192 |
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (28) |  |  |  |  |  | (28) |
Net earnings attributable to the Company |  | $ | 164 |  | $ | 210 |  | $ | 210 |  | $ | (420) |  | $ | 164 |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2014 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Comprehensive Income |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Net earnings |  | $ | 164 |  | $ | 210 |  | $ | 238 |  | $ | (420) |  | $ | 192 |
Other comprehensive loss, net |  |  | (394) |  |  | (394) |  |  | (394) |  |  | 788 |  |  | (394) |
Total comprehensive loss |  |  | (230) |  |  | (184) |  |  | (156) |  |  | 368 |  |  | (202) |
Comprehensive income attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (7) |  |  |  |  |  | (7) |
Comprehensive loss attributable to the Company |  | $ | (230) |  | $ | (184) |  | $ | (163) |  | $ | 368 |  | $ | (209) |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2013 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Results of Operations |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
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 |  |  | (12) |  |  |  |  |  | (121) |  |  |  |  |  | (133) |
Earnings before income taxes |  |  | 317 |  |  | 329 |  |  | 480 |  |  | (658) |  |  | 468 |
Provision for income taxes |  |  |  |  |  |  |  |  | (120) |  |  |  |  |  | (120) |
Earnings from continuing operations |  |  | 317 |  |  | 329 |  |  | 360 |  |  | (658) |  |  | 348 |
Loss from discontinued operations |  |  |  |  |  |  |  |  | (18) |  |  |  |  |  | (18) |
Net earnings |  |  | 317 |  |  | 329 |  |  | 342 |  |  | (658) |  |  | 330 |
Net earnings attributable to noncontrolling interests |  |  |  |  |  |  |  |  | (13) |  |  |  |  |  | (13) |
Net earnings attributable to the Company |  | $ | 317 |  | $ | 329 |  | $ | 329 |  | $ | (658) |  | $ | 317 |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2013 |
|  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  | Parent |  | Guarantor |  | Guarantor |  |  |  |  | Consolidated |
Comprehensive Income |  | (restated(1)) |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | (restated(1)) |
Net earnings |  | $ | 317 |  | $ | 329 |  | $ | 342 |  | $ | (658) |  | $ | 330 |
Other comprehensive income, net |  |  | 379 |  |  | 379 |  |  | 379 |  |  | (758) |  |  | 379 |
Total comprehensive income |  |  | 696 |  |  | 708 |  |  | 721 |  |  | (1,416) |  |  | 709 |
Comprehensive income (loss) attributable to noncontrolling interests |  |  | 6 |  |  | — |  |  | (7) |  |  | (6) |  |  | (7) |
Comprehensive income attributable to the Company |  | $ | 702 |  | $ | 708 |  | $ | 714 |  | $ | (1,422) |  | $ | 702 |
| (1) |  | See Note 1 for restatement information.
|  | Year ended December 31, 2015 |
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  |  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |  |
Cash Flows |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated |
Cash provided by (utilized in) operating activities |  | $ | 87 |  | $ | — |  | $ | 521 |  | $ | — |  | $ | 608 |
Cash utilized in investing activities |  |  |  |  |  |  |  |  | (2,748) |  |  |  |  |  | (2,748) |
Cash provided by financing activities |  |  | (87) |  |  |  |  |  | 2,144 |  |  |  |  |  | 2,057 |
Effect of exchange rate change on cash |  |  |  |  |  |  |  |  | (30) |  |  |  |  |  | (30) |
Net change in cash |  |  | — |  |  | — |  |  | (113) |  |  | — |  |  | (113) |
Cash at beginning of period |  |  |  |  |  |  |  |  | 512 |  |  |  |  |  | 512 |
Cash at end of period |  | $ | — |  | $ | — |  | $ | 399 |  | $ | — |  | $ | 399 |
|  | Year ended December 31, 2014 |
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  |  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |  |
Cash Flows |  | Parent |  | Subsidiaries |  | 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 |
|  |  |  |  |  |  |  | Non- |  |  |  |  |  |  |
|  |  |  |  | Guarantor |  | Guarantor |  |  |  |  |  |  |
Cash Flows |  | Parent |  | Subsidiaries |  | 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 |

X
- 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. + References No definition available. + Details
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X
- References No definition available. + Details
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