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Supplemental Condensed Consolidating Guarantor Financial Statements (Tables)

6 Months Ended

Jul. 01, 2012

Supplemental Condensed Consolidating Guarantor Financial Statements [Abstract]

Condensed consolidating statement of operations

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE THREE MONTHS ENDED JULY 1, 2012


		GUARANTOR SUBSIDIARIES				NON- GUARANTOR SUBSIDIARIES				INTERFACE, INC. (PARENT CORPORATION)				CONSOLIDATION AND ELIMINATION ENTRIES				CONSOLIDATED TOTALS
		(In thousands)
Net sales		$	167,714			$	117,526			$	—			$	(30,633	)		$	254,607
Cost of sales			121,595				79,050				—				(30,633	)			170,012

Gross profit on sales			46,119				38,476				—				—				84,595
Selling, general and administrative expenses			29,477				27,063				6,022				—				62,562

Operating income (loss)			16,642				11,413				(6,022	)			—				22,033
Interest/Other expense			11,007				2,870				(7,464	)			—				6,413

Income before taxes on income and equity in income of subsidiaries			5,635				8,543				1,442				—				15,620
Income tax expense			1,934				2,933				495				—				5,362
Equity in income (loss) of subsidiaries			—				—				9,311				(9,311	)			—

Net income (loss)		$	3,701			$	5,610			$	10,258			$	(9,311	)		$	10,258

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED JULY 1, 2012


		GUARANTOR SUBSIDIARIES				NON- GUARANTOR SUBSIDIARIES				INTERFACE, INC. (PARENT CORPORATION)				CONSOLIDATION AND ELIMINATION ENTRIES				CONSOLIDATED TOTALS
		(In thousands)
Net sales		$	310,498			$	238,181			$	—			$	(61,312	)		$	487,367
Cost of sales			227,938				159,943				—				(61,312	)			326,569

Gross profit on sales			82,560				78,238				—				—				160,798
Selling, general and administrative expenses			56,296				54,668				10,966				—				121,930
Restructuring and asset impairment charge			1,143				15,173				—				—				16,316

Operating income (loss)			25,121				8,397				(10,966	)			—				22,552
Interest/Other expense			18,242				6,603				(11,342	)			—				13,503

Income (loss) before taxes on income and equity in income of subsidiaries			6,879				1,794				376				—				9,049
Income tax expense			2,055				2,278				392				—				4,725
Equity in income (loss) of subsidiaries			—				—				4,340				(4,340	)			—

Net income (loss)		$	4,824			$	(484	)		$	4,324			$	(4,340	)		$	4,324

Condensed consolidating balance sheet

CONDENSED CONSOLIDATING BALANCE SHEET

JULY 1, 2012


		GUARANTOR SUBSIDIARIES				NON- GUARANTOR SUBSIDIARIES				INTERFACE, INC. (PARENT CORPORATION)				CONSOLIDATION AND ELIMINATION ENTRIES				CONSOLIDATED TOTALS
		(In thousands)
ASSETS
Current assets:
Cash and cash equivalents		$	1,446			$	26,419			$	9,013			$	—			$	36,878
Accounts receivable			66,614				73,936				582				—				141,132
Inventories			98,789				74,895				—				—				173,684
Prepaids and deferred income taxes			8,993				17,926				9,101				—				36,020

Total current assets			175,842				193,176				18,696				—				387,714
Property and equipment less accumulated depreciation			83,319				103,735				3,598				—				190,652
Investment in subsidiaries			267,400				198,892				124,800				(591,092	)			—
Goodwill			6,955				65,177				—				—				72,132
Other assets			5,680				10,552				84,840				—				101,072

		$	539,196			$	571,532			$	231,934			$	(591,092	)		$	751,570

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities		$	47,794			$	75,227			$	18,942			$	—			$	141,963
Senior notes			—				—				283,070				—				283,070
Deferred income taxes			188				11,302				(3,005	)			—				8,485
Other			1,406				8,565				27,217				—				37,188

Total liabilities			49,388				95,094				326,224				—				470,706
Common stock			94,145				102,199				6,596				(196,344	)			6,596
Additional paid-in capital			249,302				12,525				364,376				(261,827	)			364,376
Retained earnings (deficit)			148,441				425,226				(455,813	)			(132,921	)			(15,067	)
Foreign currency translation adjustment			(2,080	)			(29,647	)			(7,018	)			—				(38,745	)
Pension liability			—				(33,865	)			(2,431	)			—				(36,296	)

		$	539,196			$	571,532			$	231,934			$	(591,092	)		$	751,570

Condensed consolidating statement of cash flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

FOR THE SIX MONTHS

ENDED JULY 1, 2012


		GUARANTOR SUBSIDIARIES				NON- GUARANTOR SUBSIDIARIES				INTERFACE, INC. (PARENT CORPORATION)				CONSOLIDATION AND ELIMINATION ENTRIES				CONSOLIDATED TOTALS
		(In thousands)
Net cash provided by operating activities		$	6,532			$	2,812			$	10,667			$	3,418			$	23,429

Cash flows from investing activities:
Purchase of plant and equipment			(7,292	)			(14,443	)			(12	)			—				(21,747	)
Other			390				(31	)			(1,496	)			—				(1,137	)

Net cash used for investing activities			(6,902	)			(14,474	)			(1,508	)			—				(22,884	)

Cash flows from financing activities:
Repurchase of senior subordinated notes			—				—				(11,477	)			—				(11,477	)
Other			715				2,536				167				(3,418	)			—
Proceeds from issuance of common stock			—				—				131				—				131
Dividends paid			—				—				(2,627	)			—				(2,627	)

Net cash provided by (used for) financing activities			715				2,536				(13,806	)			(3,418	)			(13,973	)
Effect of exchange rate change on cash			—				(329	)			—				—				(329	)

Net increase (decrease) in cash			345				(9,455	)			(4,647	)			—				(13,757	)
Cash at beginning of period			1,101				35,874				13,660				—				50,635

Cash at end of period		$	1,446			$	26,419			$	9,013			$	—			$	36,878