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Supplemental Guarantor Condensed Consolidating Financial Information | 6 Months Ended
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Jun. 30, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Supplemental Guarantor Condensed Consolidating Financial Information | Supplemental Guarantor Condensed Consolidating Financial Information Under an indenture dated December 29, 2009, TriMas Corporation, the parent company ("Parent"), issued 9¾% senior secured notes due 2017 ("Senior Notes") in a total principal amount of $250.0 million (face value). The outstanding Senior Notes are fully and unconditionally guaranteed on a joint and several basis by substantially all of the Company's domestic subsidiaries ("Guarantor Subsidiaries”). The Company's non-domestic subsidiaries and TSPC, Inc. have not guaranteed the Senior Notes ("Non-Guarantor Subsidiaries"). The Guarantor Subsidiaries have also guaranteed amounts outstanding under the Company's Credit Agreement. The accompanying supplemental guarantor condensed, consolidating financial information is presented using the equity method of accounting for all periods presented. Under this method, investments in subsidiaries are recorded at cost and adjusted for the Company's share in the subsidiaries' cumulative results of operations, capital contributions and distributions and other changes in equity. Elimination entries relate primarily to the elimination of investments in subsidiaries and associated intercompany balances and transactions. Supplemental Guarantor Condensed Financial Statements Consolidating Balance Sheet (dollars in thousands)
|  | June 30, 2012
|  | Parent |  | Guarantor |  | Non- Guarantor |  | Eliminations |  | Consolidated Total
Assets |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 8,980 |  |  | $ | 20,300 |  |  | $ | — |  |  | $ | 29,280 |
Trade receivables, net |  | — |  |  | 154,820 |  |  | 31,900 |  |  | — |  |  | 186,720 |
Receivables, intercompany |  | — |  |  | 2,170 |  |  | — |  |  | (2,170 | ) |  | — |
Inventories |  | — |  |  | 179,490 |  |  | 34,540 |  |  | — |  |  | 214,030 |
Deferred income taxes |  | — |  |  | 17,540 |  |  | 970 |  |  | — |  |  | 18,510 |
Prepaid expenses and other current assets |  | — |  |  | 9,140 |  |  | 2,410 |  |  | — |  |  | 11,550 |
Total current assets |  | — |  |  | 372,140 |  |  | 90,120 |  |  | (2,170 | ) |  | 460,090 |
Investments in subsidiaries |  | 484,290 |  |  | 144,610 |  |  | — |  |  | (628,900 | ) |  | — |
Property and equipment, net |  | — |  |  | 112,450 |  |  | 60,760 |  |  | — |  |  | 173,210 |
Goodwill |  | — |  |  | 203,900 |  |  | 45,770 |  |  | — |  |  | 249,670 |
Intangibles and other assets |  | 4,700 |  |  | 208,870 |  |  | 6,130 |  |  | (1,100 | ) |  | 218,600 |
Total assets |  | $ | 488,990 |  |  | $ | 1,041,970 |  |  | $ | 202,780 |  |  | $ | (632,170 | ) |  | $ | 1,101,570 |
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Current maturities, long-term debt |  | $ | — |  |  | $ | 2,320 |  |  | $ | 6,040 |  |  | $ | — |  |  | $ | 8,360 |
Accounts payable, trade |  | — |  |  | 138,150 |  |  | 31,520 |  |  | — |  |  | 169,670 |
Accounts payable, intercompany |  | — |  |  | — |  |  | 2,170 |  |  | (2,170 | ) |  | — |
Accrued liabilities |  | 850 |  |  | 56,580 |  |  | 10,240 |  |  | — |  |  | 67,670 |
Total current liabilities |  | 850 |  |  | 197,050 |  |  | 49,970 |  |  | (2,170 | ) |  | 245,700 |
Long-term debt |  | 196,920 |  |  | 215,540 |  |  | — |  |  | — |  |  | 412,460 |
Deferred income taxes |  | — |  |  | 60,530 |  |  | 5,220 |  |  | (1,100 | ) |  | 64,650 |
Other long-term liabilities |  | — |  |  | 59,070 |  |  | 2,980 |  |  | — |  |  | 62,050 |
Total liabilities |  | 197,770 |  |  | 532,190 |  |  | 58,170 |  |  | (3,270 | ) |  | 784,860 |
Redeemable noncontrolling interest |  | — |  |  | 25,490 |  |  | — |  |  | — |  |  | 25,490 |
Total shareholders' equity |  | 291,220 |  |  | 484,290 |  |  | 144,610 |  |  | (628,900 | ) |  | 291,220 |
Total liabilities and shareholders' equity |  | $ | 488,990 |  |  | $ | 1,041,970 |  |  | $ | 202,780 |  |  | $ | (632,170 | ) |  | $ | 1,101,570 |
Supplemental Guarantor Condensed Financial Statements Consolidating Balance Sheet (dollars in thousands)
|  | December 31, 2011
|  | Parent |  | Guarantor |  | Non- Guarantor |  | Eliminations |  | Consolidated Total
Assets |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | — |  |  | $ | 33,820 |  |  | $ | 55,100 |  |  | $ | — |  |  | $ | 88,920 |
Trade receivables, net |  | — |  |  | 105,030 |  |  | 30,580 |  |  | — |  |  | 135,610 |
Receivables, intercompany |  | — |  |  | 2,290 |  |  | — |  |  | (2,290 | ) |  | — |
Inventories |  | — |  |  | 147,010 |  |  | 31,020 |  |  | — |  |  | 178,030 |
Deferred income taxes |  | — |  |  | 17,280 |  |  | 1,230 |  |  | — |  |  | 18,510 |
Prepaid expenses and other current assets |  | — |  |  | 8,950 |  |  | 1,670 |  |  | — |  |  | 10,620 |
Total current assets |  | — |  |  | 314,380 |  |  | 119,600 |  |  | (2,290 | ) |  | 431,690 |
Investments in subsidiaries |  | 412,840 |  |  | 169,360 |  |  | — |  |  | (582,200 | ) |  | — |
Property and equipment, net |  | — |  |  | 103,880 |  |  | 55,330 |  |  | — |  |  | 159,210 |
Goodwill |  | — |  |  | 169,290 |  |  | 46,070 |  |  | — |  |  | 215,360 |
Intangibles and other assets |  | 7,920 |  |  | 169,020 |  |  | 6,350 |  |  | (3,010 | ) |  | 180,280 |
Total assets |  | $ | 420,760 |  |  | $ | 925,930 |  |  | $ | 227,350 |  |  | $ | (587,500 | ) |  | $ | 986,540 |
Liabilities and Shareholders' Equity |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Current maturities, long-term debt |  | $ | — |  |  | $ | 7,290 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,290 |
Accounts payable, trade |  | — |  |  | 115,150 |  |  | 31,780 |  |  | — |  |  | 146,930 |
Accounts payable, intercompany |  | — |  |  | — |  |  | 2,290 |  |  | (2,290 | ) |  | — |
Accrued liabilities |  | 1,080 |  |  | 58,660 |  |  | 10,400 |  |  | — |  |  | 70,140 |
Total current liabilities |  | 1,080 |  |  | 181,100 |  |  | 44,470 |  |  | (2,290 | ) |  | 224,360 |
Long-term debt |  | 245,890 |  |  | 216,720 |  |  | — |  |  | — |  |  | 462,610 |
Deferred income taxes |  | — |  |  | 61,580 |  |  | 6,210 |  |  | (3,010 | ) |  | 64,780 |
Other long-term liabilities |  | — |  |  | 53,690 |  |  | 7,310 |  |  | — |  |  | 61,000 |
Total liabilities |  | 246,970 |  |  | 513,090 |  |  | 57,990 |  |  | (5,300 | ) |  | 812,750 |
Total shareholders' equity |  | 173,790 |  |  | 412,840 |  |  | 169,360 |  |  | (582,200 | ) |  | 173,790 |
Total liabilities and shareholders' equity |  | $ | 420,760 |  |  | $ | 925,930 |  |  | $ | 227,350 |  |  | $ | (587,500 | ) |  | $ | 986,540 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Operations (dollars in thousands)
|  | Three Months Ended June 30, 2012
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net sales |  | $ | — |  |  | $ | 288,070 |  |  | $ | 66,450 |  |  | $ | (16,090 | ) |  | $ | 338,430 |
Cost of sales |  | — |  |  | (207,690 | ) |  | (50,940 | ) |  | 16,090 |  |  | (242,540 | )
Gross profit |  | — |  |  | 80,380 |  |  | 15,510 |  |  | — |  |  | 95,890 |
Selling, general and administrative expenses |  | — |  |  | (44,910 | ) |  | (7,800 | ) |  | — |  |  | (52,710 | )
Gain on dispositions of property and equipment |  | — |  |  | 10 |  |  | 10 |  |  | — |  |  | 20 |
Operating profit |  | — |  |  | 35,480 |  |  | 7,720 |  |  | — |  |  | 43,200 |
Other expense, net: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (6,200 | ) |  | (3,660 | ) |  | (440 | ) |  | — |  |  | (10,300 | )
Debt extinguishment costs |  | (6,560 | ) |  | — |  |  | — |  |  | — |  |  | (6,560 | )
Other, net |  | — |  |  | (590 | ) |  | (320 | ) |  | — |  |  | (910 | )
Income (loss) from continuing operations before income tax (expense) benefit and equity in net income of subsidiaries |  | (12,760 | ) |  | 31,230 |  |  | 6,960 |  |  | — |  |  | 25,430 |
Income tax (expense) benefit |  | 4,480 |  |  | (11,150 | ) |  | (1,590 | ) |  | — |  |  | (8,260 | )
Equity in net income of subsidiaries |  | 25,450 |  |  | 5,370 |  |  | — |  |  | (30,820 | ) |  | — |
Net income |  | 17,170 |  |  | 25,450 |  |  | 5,370 |  |  | (30,820 | ) |  | 17,170 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | 510 |  |  | — |  |  | — |  |  | 510 |
Net income attributable to TriMas Corporation |  | $ | 17,170 |  |  | $ | 24,940 |  |  | $ | 5,370 |  |  | $ | (30,820 | ) |  | $ | 16,660 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Operations (dollars in thousands)
|  | Three Months Ended June 30, 2011
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net sales |  | $ | — |  |  | $ | 240,790 |  |  | $ | 59,410 |  |  | $ | (12,110 | ) |  | $ | 288,090 |
Cost of sales |  | — |  |  | (168,380 | ) |  | (43,530 | ) |  | 12,110 |  |  | (199,800 | )
Gross profit |  | — |  |  | 72,410 |  |  | 15,880 |  |  | — |  |  | 88,290 |
Selling, general and administrative expenses |  | — |  |  | (39,790 | ) |  | (7,680 | ) |  | — |  |  | (47,470 | )
Gain (loss) on dispositions of property and equipment |  | — |  |  | (60 | ) |  | 20 |  |  | — |  |  | (40 | )
Operating profit |  | — |  |  | 32,560 |  |  | 8,220 |  |  | — |  |  | 40,780 |
Other income (expense), net: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (6,410 | ) |  | (4,600 | ) |  | (610 | ) |  | — |  |  | (11,620 | )
Debt extinguishment costs |  | — |  |  | (3,970 | ) |  | — |  |  | — |  |  | (3,970 | )
Other, net |  | — |  |  | (1,840 | ) |  | 1,290 |  |  | — |  |  | (550 | )
Income (loss) from continuing operations before income tax (expense) benefit and equity in net income of subsidiaries |  | (6,410 | ) |  | 22,150 |  |  | 8,900 |  |  | — |  |  | 24,640 |
Income tax (expense) benefit |  | 2,240 |  |  | (8,840 | ) |  | (2,030 | ) |  | — |  |  | (8,630 | )
Equity in net income of subsidiaries |  | 21,260 |  |  | 6,870 |  |  | — |  |  | (28,130 | ) |  | — |
Income from continuing operations |  | 17,090 |  |  | 20,180 |  |  | 6,870 |  |  | (28,130 | ) |  | 16,010 |
Income from discontinued operations, net of income taxes |  | — |  |  | 1,080 |  |  | — |  |  | — |  |  | 1,080 |
Net income |  | $ | 17,090 |  |  | $ | 21,260 |  |  | $ | 6,870 |  |  | $ | (28,130 | ) |  | $ | 17,090 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Operations (dollars in thousands)
|  | Six Months Ended June 30, 2012
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net sales |  | $ | — |  |  | $ | 537,430 |  |  | $ | 127,650 |  |  | $ | (29,080 | ) |  | $ | 636,000 |
Cost of sales |  | — |  |  | (391,580 | ) |  | (98,700 | ) |  | 29,080 |  |  | (461,200 | )
Gross profit |  | — |  |  | 145,850 |  |  | 28,950 |  |  | — |  |  | 174,800 |
Selling, general and administrative expenses |  | — |  |  | (87,130 | ) |  | (16,050 | ) |  | — |  |  | (103,180 | )
Gain on dispositions of property and equipment |  | — |  |  | 320 |  |  | — |  |  | — |  |  | 320 |
Operating profit |  | — |  |  | 59,040 |  |  | 12,900 |  |  | — |  |  | 71,940 |
Other income (expense), net: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (12,610 | ) |  | (7,510 | ) |  | (850 | ) |  | — |  |  | (20,970 | )
Debt extinguishment costs |  | (6,560 | ) |  | — |  |  | — |  |  | — |  |  | (6,560 | )
Other, net |  | — |  |  | (3,630 | ) |  | 1,080 |  |  | — |  |  | (2,550 | )
Income (loss) from continuing operations before income tax (expense) benefit and equity in net income of subsidiaries |  | (19,170 | ) |  | 47,900 |  |  | 13,130 |  |  | — |  |  | 41,860 |
Income tax (expense) benefit |  | 6,710 |  |  | (16,100 | ) |  | (3,050 | ) |  | — |  |  | (12,440 | )
Equity in net income of subsidiaries |  | 41,880 |  |  | 10,080 |  |  | — |  |  | (51,960 | ) |  | — |
Net income |  | 29,420 |  |  | 41,880 |  |  | 10,080 |  |  | (51,960 | ) |  | 29,420 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | 270 |  |  | — |  |  | — |  |  | 270 |
Net income attributable to TriMas Corporation |  | $ | 29,420 |  |  | $ | 41,610 |  |  | $ | 10,080 |  |  | $ | (51,960 | ) |  | $ | 29,150 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Operations (dollars in thousands)
|  | Six Months Ended June 30, 2011
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net sales |  | $ | — |  |  | $ | 457,740 |  |  | $ | 111,090 |  |  | $ | (22,180 | ) |  | $ | 546,650 |
Cost of sales |  | — |  |  | (326,280 | ) |  | (82,440 | ) |  | 22,180 |  |  | (386,540 | )
Gross profit |  | — |  |  | 131,460 |  |  | 28,650 |  |  | — |  |  | 160,110 |
Selling, general and administrative expenses |  | — |  |  | (75,810 | ) |  | (15,200 | ) |  | — |  |  | (91,010 | )
Gain on dispositions of property and equipment |  | — |  |  | 10 |  |  | 20 |  |  | — |  |  | 30 |
Operating profit |  | — |  |  | 55,660 |  |  | 13,470 |  |  | — |  |  | 69,130 |
Other income (expense), net: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (12,830 | ) |  | (9,660 | ) |  | (1,150 | ) |  | — |  |  | (23,640 | )
Debt extinguishment costs |  | — |  |  | (3,970 | ) |  | — |  |  | — |  |  | (3,970 | )
Other, net |  | — |  |  | (4,410 | ) |  | 2,700 |  |  | — |  |  | (1,710 | )
Income (loss) from continuing operations before income tax (expense) benefit and equity in net income of subsidiaries |  | (12,830 | ) |  | 37,620 |  |  | 15,020 |  |  | — |  |  | 39,810 |
Income tax (expense) benefit |  | 4,490 |  |  | (12,480 | ) |  | (5,120 | ) |  | — |  |  | (13,110 | )
Equity in net income of subsidiaries |  | 37,180 |  |  | 9,900 |  |  | — |  |  | (47,080 | ) |  | — |
Income from continuing operations |  | 28,840 |  |  | 35,040 |  |  | 9,900 |  |  | (47,080 | ) |  | 26,700 |
Income from discontinued operations, net of income taxes |  | — |  |  | 2,140 |  |  | — |  |  | — |  |  | 2,140 |
Net income |  | $ | 28,840 |  |  | $ | 37,180 |  |  | $ | 9,900 |  |  | $ | (47,080 | ) |  | $ | 28,840 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Comprehensive Income (dollars in thousands)
|  | Three Months Ended June 30, 2012
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net income |  | $ | 17,170 |  |  | $ | 25,450 |  |  | $ | 5,370 |  |  | $ | (30,820 | ) |  | $ | 17,170 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |
Amortization of defined benefit plan deferred losses, net of tax |  | — |  |  | 60 |  |  | 30 |  |  | — |  |  | 90 |
Foreign currency translation |  | — |  |  | — |  |  | (4,870 | ) |  | — |  |  | (4,870 | )
Net changes in unrealized loss on derivative instruments, net of tax |  | — |  |  | (450 | ) |  | (60 | ) |  | — |  |  | (510 | )
Total other comprehensive loss |  | — |  |  | (390 | ) |  | (4,900 | ) |  | — |  |  | (5,290 | )
Total comprehensive income |  | 17,170 |  |  | 25,060 |  |  | 470 |  |  | (30,820 | ) |  | 11,880 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | 510 |  |  | — |  |  | — |  |  | 510 |
Total comprehensive income attributable to TriMas Corporation |  | $ | 17,170 |  |  | $ | 24,550 |  |  | $ | 470 |  |  | $ | (30,820 | ) |  | $ | 11,370 |
|  | Three Months Ended June 30, 2011
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net income |  | $ | 17,090 |  |  | $ | 21,260 |  |  | $ | 6,870 |  |  | $ | (28,130 | ) |  | $ | 17,090 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |
Amortization of defined benefit plan deferred losses, net of tax |  | — |  |  | 30 |  |  | 30 |  |  | — |  |  | 60 |
Foreign currency translation |  | — |  |  | — |  |  | 2,510 |  |  | — |  |  | 2,510 |
Net changes in unrealized loss on derivative instruments, net of tax |  | — |  |  | 80 |  |  | — |  |  | — |  |  | 80 |
Total other comprehensive income |  | — |  |  | 110 |  |  | 2,540 |  |  | — |  |  | 2,650 |
Total comprehensive income |  | $ | 17,090 |  |  | $ | 21,370 |  |  | $ | 9,410 |  |  | $ | (28,130 | ) |  | $ | 19,740 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Comprehensive Income (dollars in thousands)
|  | Six Months Ended June 30, 2012
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net income |  | $ | 29,420 |  |  | $ | 41,880 |  |  | $ | 10,080 |  |  | $ | (51,960 | ) |  | $ | 29,420 |
Other comprehensive income |  |  |  |  |  |  |  |  |  |
Amortization of defined benefit plan deferred losses, net of tax |  | — |  |  | 120 |  |  | 90 |  |  | — |  |  | 210 |
Foreign currency translation |  | — |  |  | — |  |  | (360 | ) |  | — |  |  | (360 | )
Net changes in unrealized loss on derivative instruments, net of tax |  | — |  |  | (860 | ) |  | (60 | ) |  | — |  |  | (920 | )
Total other comprehensive loss |  | — |  |  | (740 | ) |  | (330 | ) |  | — |  |  | (1,070 | )
Total comprehensive income |  | 29,420 |  |  | 41,140 |  |  | 9,750 |  |  | (51,960 | ) |  | 28,350 |
Less: Net income attributable to noncontrolling interests |  | — |  |  | 270 |  |  | — |  |  | — |  |  | 270 |
Total comprehensive income attributable to TriMas Corporation |  | $ | 29,420 |  |  | $ | 40,870 |  |  | $ | 9,750 |  |  | $ | (51,960 | ) |  | $ | 28,080 |
|  | Six Months Ended June 30, 2011
|  | Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Net income |  | $ | 28,840 |  |  | $ | 37,180 |  |  | $ | 9,900 |  |  | $ | (47,080 | ) |  | $ | 28,840 |
Other comprehensive income |  |  |  |  |  |  |  |  |  |
Amortization of defined benefit plan deferred losses, net of tax |  | — |  |  | 60 |  |  | 50 |  |  | — |  |  | 110 |
Foreign currency translation |  | — |  |  | — |  |  | 7,350 |  |  | — |  |  | 7,350 |
Net changes in unrealized loss on derivative instruments, net of tax |  | — |  |  | 230 |  |  | — |  |  | — |  |  | 230 |
Total other comprehensive income |  | — |  |  | 290 |  |  | 7,400 |  |  | — |  |  | 7,690 |
Total comprehensive income |  | $ | 28,840 |  |  | $ | 37,470 |  |  | $ | 17,300 |  |  | $ | (47,080 | ) |  | $ | 36,530 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Cash Flows (dollars in thousands)
| Six Months Ended June 30, 2012
| Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Net cash provided by (used for) operating activities | $ | (41,000 | ) |  | $ | 23,810 |  |  | $ | 12,310 |  |  | $ | — |  |  | (4,880 | )
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (17,340 | ) |  | (9,300 | ) |  | — |  |  | (26,640 | )
Acquisition of businesses, net of cash acquired | — |  |  | (61,820 | ) |  | — |  |  | — |  |  | (61,820 | )
Net proceeds from disposition of assets | — |  |  | 2,770 |  |  | — |  |  | — |  |  | 2,770 |
Net cash used for investing activities | — |  |  | (76,390 | ) |  | (9,300 | ) |  | — |  |  | (85,690 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |
Proceeds from sale of common stock in connection with the Company's equity offering, net of issuance costs | 79,040 |  |  | — |  |  | — |  |  | — |  |  | 79,040 |
Proceeds from borrowings on term loan facilities | — |  |  | — |  |  | 69,530 |  |  | — |  |  | 69,530 |
Repayments of borrowings on term loan facilities | — |  |  | (6,160 | ) |  | (62,990 | ) |  | — |  |  | (69,150 | )
Proceeds from borrowings on revolving credit facilities and accounts receivable facility | — |  |  | 412,900 |  |  | — |  |  | — |  |  | 412,900 |
Repayments of borrowings on revolving credit facilities and accounts receivable facility | — |  |  | (412,900 | ) |  | — |  |  | — |  |  | (412,900 | )
Retirement of 9¾% senior secured notes | (50,000 | ) |  | — |  |  | — |  |  | — |  |  | (50,000 | )
Senior secured notes redemption premium | (4,880 | ) |  | — |  |  | — |  |  | — |  |  | (4,880 | )
Distributions to noncontrolling interests | — |  |  | (410 | ) |  | — |  |  | — |  |  | (410 | )
Shares surrendered upon vesting of options and restricted stock awards to cover tax obligations | (990 | ) |  | — |  |  | — |  |  | — |  |  | (990 | )
Proceeds from exercise of stock options | 5,660 |  |  | — |  |  | — |  |  | — |  |  | 5,660 |
Excess tax benefits from stock based compensation | — |  |  | 2,130 |  |  | — |  |  | — |  |  | 2,130 |
Intercompany transfers (to) from subsidiaries | 12,170 |  |  | 32,180 |  |  | (44,350 | ) |  | — |  |  | — |
Net cash provided by (used for) financing activities | 41,000 |  |  | 27,740 |  |  | (37,810 | ) |  | — |  |  | 30,930 |
Cash and Cash Equivalents: |  |  |  |  |  |  |  |  |
Decrease for the period | — |  |  | (24,840 | ) |  | (34,800 | ) |  | — |  |  | (59,640 | )
At beginning of period | — |  |  | 33,820 |  |  | 55,100 |  |  | — |  |  | 88,920 |
At end of period | $ | — |  |  | $ | 8,980 |  |  | $ | 20,300 |  |  | $ | — |  |  | $ | 29,280 |
Supplemental Guarantor Condensed Financial Statements Consolidating Statement of Cash Flows (dollars in thousands)
| Six Months Ended June 30, 2011
| Parent |  | Guarantor |  | Non-Guarantor |  | Eliminations |  | Consolidated Total
Cash Flows from Operating Activities: |  |  |  |  |  |  |  |  |
Net cash provided by (used for) operating activities | $ | (12,190 | ) |  | $ | (840 | ) |  | $ | 8,370 |  |  | $ | — |  |  | (4,660 | )
Cash Flows from Investing Activities: |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (9,490 | ) |  | (4,530 | ) |  | — |  |  | (14,020 | )
Net proceeds from disposition of assets | — |  |  | 1,640 |  |  | 20 |  |  | — |  |  | 1,660 |
Net cash used for investing activities | — |  |  | (7,850 | ) |  | (4,510 | ) |  | — |  |  | (12,360 | )
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |  |
Proceeds from borrowings on term loan facilities | — |  |  | 225,000 |  |  | 1,520 |  |  | — |  |  | 226,520 |
Repayments of borrowings on term loan facilities | — |  |  | (248,950 | ) |  | — |  |  | — |  |  | (248,950 | )
Proceeds from borrowings on revolving credit facilities and accounts receivable facility | — |  |  | 303,520 |  |  | — |  |  | — |  |  | 303,520 |
Repayments of borrowings on revolving credit facilities and accounts receivable facility | — |  |  | (297,600 | ) |  | — |  |  | — |  |  | (297,600 | )
Debt financing fees | — |  |  | (6,570 | ) |  | — |  |  | — |  |  | (6,570 | )
Shares surrendered upon vesting of options and restricted stock awards to cover tax obligations | (830 | ) |  | — |  |  | — |  |  | — |  |  | (830 | )
Proceeds from exercise of stock options | 830 |  |  | — |  |  | — |  |  | — |  |  | 830 |
Excess tax benefits from stock based compensation | — |  |  | 3,800 |  |  | — |  |  | — |  |  | 3,800 |
Intercompany transfers (to) from subsidiaries | 12,190 |  |  | 14,630 |  |  | (26,820 | ) |  | — |  |  | — |
Net cash provided by (used for) financing activities | 12,190 |  |  | (6,170 | ) |  | (25,300 | ) |  | — |  |  | (19,280 | )
Cash and Cash Equivalents: |  |  |  |  |  |  |  |  |
Decrease for the period | — |  |  | (14,860 | ) |  | (21,440 | ) |  | — |  |  | (36,300 | )
At beginning of period | — |  |  | 15,070 |  |  | 31,300 |  |  | — |  |  | 46,370 |
At end of period | $ | — |  |  | $ | 210 |  |  | $ | 9,860 |  |  | $ | — |  |  | $ | 10,070 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24072-122690 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 51 -Paragraph 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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