Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2017



CONDENSED CONSOLIDATING BALANCE SHEETS
As of December 31, 2016
(in thousands)
							Consolidating
					Non-		Entries and
	Parent		Guarantors		Guarantors		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	636	$	10,974	$	—		$	11,610
Accounts receivable - affiliates	51,592		3,624		19,643		(74,859		)	—
Accounts receivable - trade	—		7,518		73,050		—			80,568
Inventories	—		44,563		111,548		—			156,111
Prepaid and other current assets	1,350		4,853		15,462		—			21,665
Current assets of discontinued operations	—		51,160		14,296		(4,477		)	60,979
Total current assets	52,942		112,354		244,973		(79,336		)	330,933

Investment in affiliates	844,379		601,597		—		(1,445,976		)	—
Property, plant and equipment	—		191,503		317,352		—			508,855
Deferred income taxes	—		—		19,803		—			19,803
Goodwill	—		70,399		100,718		—			171,117
Notes receivable - affiliate	—		49,003		—		(49,003		)	—
Other assets	—		70,767		70,801		—			141,568
Long-term assets of discontinued operations	—		—		—		—			—
Total Assets	$	897,321	$	1,095,623	$	753,647	$	(1,574,315	)	$	1,172,276

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	806	$	71,243	$	2,810	$	(74,859	)	$	—
Accounts payable - trade	964		8,033		38,666		—			47,663
Short-term debt	—		3,062		5,790		—			8,852
Accrued income and other taxes	—		2,095		3,161		—			5,256
Other accrued liabilities	2,444		12,205		15,945		—			30,594
Short-term liabilities of discontinued operations	—		20,381		4,138		(4,477		)	20,042
Total current liabilities	4,214		117,019		70,510		(79,336		)	112,407

Long-term debt - affiliate	41,590		—		7,413		(49,003		)	—
Long-term debt - third party	274,132		81,695		753		—			356,580
Other long-term obligations	—		50,943		31,205		—			82,148
Deferred income taxes	—		909		41,997		—			42,906
Long-term liabilities of discontinued operations	—		678		172		—			850
Stockholders' equity	577,385		844,379		601,597		(1,445,976		)	577,385
Total Liabilities and Stockholders' Equity	$	897,321	$	1,095,623	$	753,647	$	(1,574,315	)	$	1,172,276



CONDENSED CONSOLIDATING BALANCE SHEETS
As of March 31, 2017
(in thousands)
								Consolidating
					Non-			Entries and
	Parent		Guarantors		Guarantors			Eliminations				Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	663	$	17,818		$	—			$	18,481
Accounts receivable - affiliates	51,592		10,104		17,484			(79,180		)		—
Accounts receivable - trade	—		6,775		67,884			—				74,659
Inventories	—		44,198		115,195							159,393
Prepaid and other current assets	1,440		4,260		16,736			—				22,436
Current assets of discontinued operations	—		43,380		13,579			(3,147		)		53,812
Total current assets	53,032		109,380		248,696			(82,327		)		328,781

Investment in affiliates	829,921		596,259		—			(1,426,180		)		—
Property, plant and equipment	—		187,936		316,869			—				504,805
Deferred income taxes	—		—		20,315			—				20,315
Goodwill	—		70,399		100,718			—				171,117
Notes receivable - affiliate			49,380		—			(49,380		)		—
Other assets	—		67,706		70,903			—				138,609
Total Assets	$	882,953	$	1,081,060	$	757,501		$	(1,557,887	)		$	1,163,627

LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable - affiliate	$	1,184	$	68,734	$	9,262		$	(79,180	)		$	—
Accounts payable - trade	964		8,372		35,382			—				44,718
Short-term debt	—		4,362		5,994			—				10,356
Accrued income and other taxes	—		1,097		4,812			—				5,909
Other accrued liabilities	7,225		8,930		17,562			—				33,717
Liabilities of discontinued operations	—		16,137		4,326			(3,147		)		17,316
Total current liabilities	9,373		107,632		77,338			(82,327		)		112,016

Long-term debt - affiliate	41,967		—		7,413			(49,380		)		—
Long-term debt - third party	275,732		92,737		777			—				369,246
Other long-term obligations	—		48,869		32,299			—				81,168
Deferred income taxes	—		1,037		43,239			—				44,276
Long-term liabilities of discontinued operations	—		864		176		—	—			—	1,040
Stockholders' equity	555,881		829,921		596,259			(1,426,180		)		555,881
Total Liabilities and Stockholders' Equity	$	882,953	$	1,081,060	$	757,501		$	(1,557,887	)		$	1,163,627

Condensed Income Statement



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three Months Ended March 31, 2016
(in thousands)

										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	40,899		$	19,643		$	(60,542	)		$	—
Sales - third party	—			20,820			74,756			—				95,576
Net sales	—			61,719			94,399			(60,542		)		95,576
Cost of sales	—			61,602			95,954			(60,542		)		97,014
Additions to lower cost or market inventory reserve	—			2,073			9,464			—				11,537
Gross profit (loss)	—			(1,956		)	(11,019		)	—				(12,975		)

Research and development	—			651			—			—				651
Selling and administrative expenses	—			6,074			7,720			—				13,794
Operating (loss) income	—			(8,681		)	(18,739		)	—				(27,420		)

Other expense (income), net	6			270			(39		)	—				237
Interest expense - affiliate	198			—			—			(198		)		—
Interest expense - third party	6,344			41			75			—				6,460
Interest income - affiliate	—			(198		)	—			198				—
Interest income - third party	—			—			(12		)	—				(12		)
Income (Loss) from continuing operations before provision for income taxes	(6,548		)	(8,794		)	(18,763		)	—			`	(34,105		)

Provision for income taxes	—			17			(312		)	—				(295		)
Equity in loss from continuing operations of subsidiary	(27,262		)	(18,451		)	—			45,713				—
Net loss from continuing operations	(33,810		)	(27,262		)	(18,451		)	45,713				(33,810		)

Loss from discontinued operations, net of tax	—			(1,578		)	(987		)	—				(2,565		)
Equity in loss from discontinued operations of subsidiary	(2,565		)	(987		)	—			3,552				—
Net loss from discontinued operations	(2,565		)	(2,565		)	(987		)	3,552				(2,565		)

Net loss	$	(36,375	)	$	(29,827	)	$	(19,438	)	$	49,265			$	(36,375	)


Statements of Comprehensive Income (Loss)

Net loss	$	(36,375	)	$	(29,827	)	$	(19,438	)	$	49,265			$	(36,375	)
Other comprehensive income	12,637			12,637			12,637			(25,274		)		12,637
Comprehensive loss	$	(23,738	)	$	(17,190	)	$	(6,801	)	$	23,991			$	(23,738	)



CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three Months Ended March 31, 2017
(in thousands)

										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations				Consolidated

Sales - affiliates	$	—		$	25,344		$	12,085		$	(37,429	)		$	—
Sales - third party	—			21,881			82,858			—				104,739
Net sales	—			47,225			94,943			(37,429		)		104,739
Cost of sales	—			46,470			93,316			(37,429		)		102,357
Additions to lower of cost or market inventory reserve	—			725			572			—				1,297
Gross profit	—			30			1,055			—				1,085

Research and development	—			829			—			—				829
Selling and administrative expenses	—			3,299			8,384			—				11,683
Operating (loss)	—			(4,098		)	(7,329		)	—				(11,427		)

Other expense (income), net	7			215			2,845			—				3,067
Interest expense - affiliate	659			—			—			(659		)		—
Interest expense - third party	6,380			1,052			114			—				7,546
Interest income - affiliate	—			(659		)	—			659				—
Interest income - third party	—			—			(123		)	—				(123		)
Loss from continuing operations before provision for income taxes	(7,046		)	(4,706		)	(10,165		)	—			`	(21,917		)

Provision for income taxes	—			131			230			—				361
Equity in loss from continuing operations of subsidiary	(15,232		)	(10,395		)	—			25,627				—
Net loss from continuing operations	(22,278		)	(15,232		)	(10,395		)	25,627				(22,278		)

(Loss) income from discontinued operations, net of tax	—			(4,142		)	76			—				(4,066		)
Equity in (loss) income from discontinued operations of subsidiary	(4,066		)	76			—			3,990				—
Net (loss) income from discontinued operations	(4,066		)	(4,066		)	76			3,990				(4,066		)

Net loss	$	(26,344	)	$	(19,298	)	$	(10,319	)	$	29,617			$	(26,344	)


Statements of Comprehensive Income (Loss)

Net loss	$	(26,344	)	$	(19,298	)	$	(10,319	)	$	29,617			$	(26,344	)
Other comprehensive income	4,840			4,840			4,840			(9,680		)		4,840
Comprehensive loss	$	(21,504	)	$	(14,458	)	$	(5,479	)	$	19,937			$	(21,504	)

Condensed Cash Flow Statement



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Three Months Ended March 31, 2016
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities:	$	(6	)	$	8,007		$	1,723		$	—		$	9,724

Cash flow from investing activities:
(Loans to) repayments from affiliates	—			(6		)	—			6			—
Capital expenditures	—			(3,828		)	(4,586		)	—			(8,414		)
Other	—			—			(253		)	—			(253		)
Proceeds from sale of fixed assets	—			391			13			—			404
Net cash (used in) provided by investing activities	—			(3,443		)	(4,826		)	6			(8,263		)

Cash flow from financing activities:
Loans from (Repayments to) affiliates	6			—			—			(6		)	—
Short-term debt, net	—			1			5,000			—			5,001
Revolving Facility borrowings	—			19,000			—			—			19,000
Revolving Facility reductions	—			(23,000		)	—			—			(23,000		)
Principal payments on long term debt	—			(34		)	—			—			(34		)
Net cash provided by (used in) financing activities	6			(4,033		)	5,000			(6		)	967

Net change in cash and cash equivalents	—			531			1,897			—			2,428
Effect of exchange rate changes on cash and cash equivalents	—			—			477			—			477
Cash and cash equivalents at beginning of period	—			646			6,281			—			6,927
Cash and cash equivalents at end of period	$	—		$	1,177		$	8,655		$	—		$	9,832



CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
For the Three Months Ended March 31, 2017
(in thousands)
										Consolidating
							Non-			Entries and
	Parent			Guarantors			Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities:	$	(96	)	$	(11,077	)	$	12,990		$	—		$	1,817

Cash flow from investing activities:
Loans to affiliates	—			(96		)	—			96			—
Capital expenditures	—			(1,069		)	(6,927		)	—			(7,996		)
Proceeds from sale of assets	—			4			364			—			368
Net cash (used in) provided by investing activities	—			(1,161		)	(6,563		)	96			(7,628		)

Cash flow from financing activities:
Loans from affiliates	96			—			—			(96		)	—
Short-term debt, net	—			(699		)	201			—			(498		)
Revolving Facility borrowings	—			13,000			—			—			13,000
Principal payments on long term debt	—			(36		)	—			—			(36		)
Net cash provided by (used in) financing activities	96			12,265			201			(96		)	12,466

Net change in cash and cash equivalents	—			27			6,628			—			6,655
Effect of exchange rate changes on cash and cash equivalents	—			—			216			—			216
Cash and cash equivalents at beginning of period	—			636			10,974			—			11,610
Cash and cash equivalents at end of period	$	—		$	663		$	17,818		$	—		$	18,481