| SUPPLEMENTAL GUARANTOR INFORMATION |
19. SUPPLEMENTAL GUARANTOR INFORMATION
Axiall Corporation is effectively a holding company for all of its wholly-and majority-owned subsidiaries. Our payment obligations under the indenture for our 9 percent notes are guaranteed by Georgia Gulf Lake Charles, LLC, Axiall, LLC, Royal Mouldings Limited, Royal Plastics Group (USA) Limited, Rome Delaware Corporation, Plastic Trends, Inc., Royal Group Sales (USA) Limited, Royal Outdoor Products, Inc., Royal Window and Door Profiles Plant 13 Inc., Royal Window and Door Profiles Plant 14 Inc. and Exterior Portfolio LLC, all of which are wholly-owned subsidiaries (the "Guarantor Subsidiaries") of Axiall Corporation. The guarantees are full, unconditional and joint and several. Investments in subsidiaries in the following tables reflect investments in wholly-owned entities within Axiall Corporation. The Company's Guarantor Subsidiaries and Non-Guarantor Subsidiaries (defined below) are not consistent with the Company's business groups or geographic operations; accordingly this basis of presentation is not included to present the Company's financial condition, results of operations or cash flows for any purpose other than to comply with the specific requirements for subsidiary guarantor reporting. We are required to present condensed consolidating financial information in order for the subsidiary guarantors of the Company's public debt to be exempt from certain reporting obligations under the Securities Exchange Act of 1934.
The following supplemental condensed consolidating balance sheet, statements of operations and statements of cash flows present the combined financial statements of the parent company and the combined financial statements of our Guarantor Subsidiaries and our remaining subsidiaries (the "Non-Guarantor Subsidiaries"). Separate financial statements of the Guarantor Subsidiaries are not presented because we have determined that they would not be material to investors. The condensed consolidating financial information for the years ended December 31, 2011 and 2010 has been corrected to include comprehensive income. Management does not believe such correction is material to the previously issued financial statements.
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Balance Sheet
December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-
Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
- |
|
$ |
131,027 |
|
$ |
69,287 |
|
$ |
- |
|
$ |
200,314 |
|
|
Receivables, net of allowance |
|
|
2,204 |
|
|
989,063 |
|
|
55,273 |
|
|
(731,660 |
) |
|
314,880 |
|
|
Inventories |
|
|
- |
|
|
201,543 |
|
|
86,813 |
|
|
- |
|
|
288,356 |
|
|
Prepaid expenses and other |
|
|
- |
|
|
11,917 |
|
|
2,785 |
|
|
- |
|
|
14,702 |
|
|
Deferred income taxes |
|
|
7,945 |
|
|
12,957 |
|
|
225 |
|
|
- |
|
|
21,127 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
10,149 |
|
|
1,346,507 |
|
|
214,383 |
|
|
(731,660 |
) |
|
839,379 |
|
|
Property, plant and equipment, net |
|
|
1,482 |
|
|
422,026 |
|
|
214,204 |
|
|
- |
|
|
637,712 |
|
|
Long term receivables—affiliates |
|
|
457,960 |
|
|
9,400 |
|
|
- |
|
|
(467,360 |
) |
|
- |
|
|
Goodwill |
|
|
- |
|
|
105,043 |
|
|
112,172 |
|
|
- |
|
|
217,215 |
|
|
Intangible assets, net |
|
|
- |
|
|
40,936 |
|
|
2,487 |
|
|
- |
|
|
43,423 |
|
|
Other assets, net |
|
|
13,930 |
|
|
38,832 |
|
|
10,824 |
|
|
- |
|
|
63,586 |
|
|
Investment in subsidiaries |
|
|
1,446,560 |
|
|
- |
|
|
- |
|
|
(1,446,560 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,930,081 |
|
$ |
1,962,744 |
|
$ |
554,070 |
|
$ |
(2,645,580 |
) |
$ |
1,801,315 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
745,067 |
|
$ |
176,298 |
|
$ |
21,519 |
|
$ |
(731,660 |
) |
$ |
211,224 |
|
|
Interest payable |
|
|
18,892 |
|
|
- |
|
|
- |
|
|
- |
|
|
18,892 |
|
|
Income taxes payable |
|
|
- |
|
|
13,887 |
|
|
1,233 |
|
|
- |
|
|
15,120 |
|
|
Accrued compensation |
|
|
- |
|
|
29,414 |
|
|
15,284 |
|
|
- |
|
|
44,698 |
|
|
Other accrued liabilities |
|
|
983 |
|
|
38,513 |
|
|
21,663 |
|
|
- |
|
|
61,159 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
764,942 |
|
|
258,112 |
|
|
59,699 |
|
|
(731,660 |
) |
|
351,093 |
|
|
Long-term debt |
|
|
448,091 |
|
|
- |
|
|
- |
|
|
- |
|
|
448,091 |
|
|
Lease financing obligation |
|
|
- |
|
|
- |
|
|
112,269 |
|
|
- |
|
|
112,269 |
|
|
Long-term payables—affiliates |
|
|
- |
|
|
- |
|
|
467,360 |
|
|
(467,360 |
) |
|
- |
|
|
Deferred income taxes |
|
|
16,874 |
|
|
161,040 |
|
|
- |
|
|
- |
|
|
177,914 |
|
|
Other non-current liabilities |
|
|
96,627 |
|
|
97,031 |
|
|
19,597 |
|
|
(104,854 |
) |
|
108,401 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
1,326,534 |
|
|
516,183 |
|
|
658,925 |
|
|
(1,303,874 |
) |
|
1,197,768 |
|
|
Total stockholders' equity (deficit) |
|
|
603,547 |
|
|
1,446,561 |
|
|
(104,855 |
) |
|
(1,341,706 |
) |
|
603,547 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity |
|
$ |
1,930,081 |
|
$ |
1,962,744 |
|
$ |
554,070 |
|
$ |
(2,645,580 |
) |
$ |
1,801,315 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Balance Sheet
December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-
Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
- |
|
$ |
43,374 |
|
$ |
45,201 |
|
$ |
- |
|
$ |
88,575 |
|
|
Receivables, net of allowance |
|
|
- |
|
|
776,859 |
|
|
62,469 |
|
|
(582,579 |
) |
|
256,749 |
|
|
Inventories |
|
|
- |
|
|
207,854 |
|
|
79,700 |
|
|
- |
|
|
287,554 |
|
|
Prepaid expenses and other |
|
|
146 |
|
|
12,264 |
|
|
3,340 |
|
|
- |
|
|
15,750 |
|
|
Deferred income taxes |
|
|
- |
|
|
14,769 |
|
|
220 |
|
|
- |
|
|
14,989 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
146 |
|
|
1,055,120 |
|
|
190,930 |
|
|
(582,579 |
) |
|
663,617 |
|
|
Property, plant and equipment, net |
|
|
1,292 |
|
|
422,302 |
|
|
217,306 |
|
|
- |
|
|
640,900 |
|
|
Long term receivables—affiliates |
|
|
447,661 |
|
|
- |
|
|
- |
|
|
(447,661 |
) |
|
- |
|
|
Goodwill |
|
|
- |
|
|
103,959 |
|
|
109,649 |
|
|
- |
|
|
213,608 |
|
|
Intangible assets, net |
|
|
- |
|
|
44,284 |
|
|
2,431 |
|
|
- |
|
|
46,715 |
|
|
Other assets |
|
|
15,646 |
|
|
51,296 |
|
|
12,429 |
|
|
- |
|
|
79,371 |
|
|
Investment in subsidiaries |
|
|
1,226,725 |
|
|
- |
|
|
- |
|
|
(1,226,725 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,691,470 |
|
$ |
1,676,961 |
|
$ |
532,745 |
|
$ |
(2,256,965 |
) |
$ |
1,644,211 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
572,600 |
|
$ |
148,573 |
|
$ |
20,193 |
|
$ |
(573,179 |
) |
$ |
168,187 |
|
|
Interest payable |
|
|
20,930 |
|
|
- |
|
|
1 |
|
|
- |
|
|
20,931 |
|
|
Income taxes payable |
|
|
(1,213 |
) |
|
1,213 |
|
|
1,202 |
|
|
- |
|
|
1,202 |
|
|
Accrued compensation |
|
|
- |
|
|
11,572 |
|
|
8,171 |
|
|
- |
|
|
19,743 |
|
|
Other accrued liabilities |
|
|
419 |
|
|
43,691 |
|
|
24,715 |
|
|
- |
|
|
68,825 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
592,736 |
|
|
205,049 |
|
|
54,282 |
|
|
(573,179 |
) |
|
278,888 |
|
|
Long-term debt |
|
|
497,464 |
|
|
- |
|
|
- |
|
|
- |
|
|
497,464 |
|
|
Lease financing obligation |
|
|
- |
|
|
- |
|
|
109,899 |
|
|
- |
|
|
109,899 |
|
|
Long-term payables—affiliates |
|
|
- |
|
|
- |
|
|
457,061 |
|
|
(457,061 |
) |
|
- |
|
|
Deferred income taxes |
|
|
16,054 |
|
|
165,411 |
|
|
- |
|
|
- |
|
|
181,465 |
|
|
Other non-current liabilities |
|
|
96,552 |
|
|
70,860 |
|
|
18,656 |
|
|
(98,237 |
) |
|
87,831 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
1,202,806 |
|
|
441,320 |
|
|
639,898 |
|
|
(1,128,477 |
) |
|
1,155,547 |
|
|
Total stockholders' equity (deficit) |
|
|
488,664 |
|
|
1,235,641 |
|
|
(107,153 |
) |
|
(1,128,488 |
) |
|
488,664 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' equity |
|
$ |
1,691,470 |
|
$ |
1,676,961 |
|
$ |
532,745 |
|
$ |
(2,256,965 |
) |
$ |
1,644,211 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Income and Comprehensive Income
Year Ended December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent Company |
|
Guarantor Subsidiaries |
|
Non-Guarantor Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net sales |
|
$ |
- |
|
$ |
2,880,835 |
|
$ |
611,078 |
|
$ |
(166,077 |
) |
$ |
3,325,836 |
|
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
- |
|
|
2,517,928 |
|
|
513,519 |
|
|
(166,077 |
) |
|
2,865,370 |
|
|
Selling, general and administrative expenses |
|
|
38,097 |
|
|
94,509 |
|
|
70,891 |
|
|
- |
|
|
203,497 |
|
|
Transaction related costs, restructuring and other, net |
|
|
35,832 |
|
|
2,455 |
|
|
546 |
|
|
- |
|
|
38,833 |
|
|
Gain on sale of assets |
|
|
- |
|
|
(19,250 |
) |
|
- |
|
|
- |
|
|
(19,250 |
) |
|
Long-lived asset impairment charges |
|
|
- |
|
|
(824 |
) |
|
- |
|
|
- |
|
|
(824 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total operating costs and expenses |
|
|
73,929 |
|
|
2,594,818 |
|
|
584,956 |
|
|
(166,077 |
) |
|
3,087,626 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) |
|
|
(73,929 |
) |
|
286,017 |
|
|
26,122 |
|
|
- |
|
|
238,210 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
|
(89,878 |
) |
|
56,199 |
|
|
(23,465 |
) |
|
- |
|
|
(57,144 |
) |
|
Loss on redemption and other debt costs |
|
|
(2,720 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(2,720 |
) |
|
Foreign exchange gain (loss) |
|
|
247 |
|
|
(61 |
) |
|
(748 |
) |
|
- |
|
|
(562 |
) |
|
Equity in income of subsidiaries |
|
|
233,316 |
|
|
748 |
|
|
- |
|
|
(234,064 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
67,036 |
|
|
342,903 |
|
|
1,909 |
|
|
(234,064 |
) |
|
177,784 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for (benefit from) income taxes |
|
|
(53,525 |
) |
|
115,268 |
|
|
(4,520 |
) |
|
- |
|
|
57,223 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
120,561 |
|
$ |
227,635 |
|
$ |
6,429 |
|
$ |
(234,064 |
) |
$ |
120,561 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income |
|
$ |
116,842 |
|
$ |
219,839 |
|
$ |
4,128 |
|
$ |
(223,967 |
) |
$ |
116,842 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Income and Comprehensive Income
Year Ended December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-
Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net sales |
|
$ |
- |
|
$ |
2,747,075 |
|
$ |
649,708 |
|
$ |
(173,899 |
) |
$ |
3,222,884 |
|
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
- |
|
|
2,540,607 |
|
|
552,917 |
|
|
(173,899 |
) |
|
2,919,625 |
|
|
Selling, general and administrative expenses |
|
|
32,000 |
|
|
73,652 |
|
|
62,569 |
|
|
- |
|
|
168,221 |
|
|
Transaction related costs, restructuring and other, net |
|
|
- |
|
|
686 |
|
|
2,585 |
|
|
- |
|
|
3,271 |
|
|
Gain on sale of assets |
|
|
- |
|
|
(1,150 |
) |
|
- |
|
|
- |
|
|
(1,150 |
) |
|
Long-lived asset impairment charges |
|
|
- |
|
|
3,445 |
|
|
4,873 |
|
|
- |
|
|
8,318 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total operating costs and expenses |
|
|
32,000 |
|
|
2,617,240 |
|
|
622,944 |
|
|
(173,899 |
) |
|
3,098,285 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) |
|
|
(32,000 |
) |
|
129,835 |
|
|
26,764 |
|
|
- |
|
|
124,599 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
|
(77,126 |
) |
|
35,823 |
|
|
(24,062 |
) |
|
- |
|
|
(65,365 |
) |
|
Loss on redemption and other debt costs |
|
|
(4,908 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(4,908 |
) |
|
Foreign exchange gain (loss) |
|
|
(23 |
) |
|
75 |
|
|
(838 |
) |
|
- |
|
|
(786 |
) |
|
Equity in income of subsidiaries |
|
|
180,797 |
|
|
(416 |
) |
|
- |
|
|
(180,381 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
66,740 |
|
|
165,317 |
|
|
1,864 |
|
|
(180,381 |
) |
|
53,540 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for (benefit from) income taxes |
|
|
8,983 |
|
|
6,163 |
|
|
(19,363 |
) |
|
- |
|
|
(4,217 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
57,757 |
|
$ |
159,154 |
|
$ |
21,227 |
|
$ |
(180,381 |
) |
$ |
57,757 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income |
|
$ |
39,816 |
|
$ |
145,112 |
|
$ |
23,551 |
|
$ |
(168,663 |
) |
$ |
39,816 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Income and Comprehensive Income
Year Ended December 31, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-
Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net sales |
|
$ |
12,455 |
|
$ |
2,383,630 |
|
$ |
613,103 |
|
$ |
(191,148 |
) |
$ |
2,818,040 |
|
|
Operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
|
- |
|
|
2,206,220 |
|
|
516,110 |
|
|
(178,692 |
) |
|
2,543,638 |
|
|
Selling, general and administrative expenses |
|
|
32,161 |
|
|
76,936 |
|
|
63,390 |
|
|
(12,456 |
) |
|
160,031 |
|
|
Transaction related costs, restructuring and other, net |
|
|
- |
|
|
587 |
|
|
(485 |
) |
|
- |
|
|
102 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Total operating costs and expenses |
|
|
32,161 |
|
|
2,283,743 |
|
|
579,015 |
|
|
(191,148 |
) |
|
2,703,771 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) |
|
|
(19,706 |
) |
|
99,887 |
|
|
34,088 |
|
|
- |
|
|
114,269 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income (expense), net |
|
|
(73,900 |
) |
|
25,954 |
|
|
(21,527 |
) |
|
- |
|
|
(69,473 |
) |
|
Foreign exchange loss (gain) |
|
|
132 |
|
|
13 |
|
|
(984 |
) |
|
- |
|
|
(839 |
) |
|
Equity in income of subsidiaries |
|
|
133,432 |
|
|
1,976 |
|
|
- |
|
|
(135,408 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
|
39,958 |
|
|
127,830 |
|
|
11,577 |
|
|
(135,408 |
) |
|
43,957 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Provision for (benefit from) income taxes |
|
|
(2,720 |
) |
|
12,181 |
|
|
(8,182 |
) |
|
- |
|
|
1,279 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net income |
|
$ |
42,678 |
|
$ |
115,649 |
|
$ |
19,759 |
|
$ |
(135,408 |
) |
$ |
42,678 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income |
|
$ |
46,782 |
|
$ |
112,963 |
|
$ |
11,672 |
|
$ |
(124,635 |
) |
$ |
46,782 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net cash provided by operating activities |
|
$ |
62,320 |
|
$ |
126,540 |
|
$ |
42,386 |
|
$ |
- |
|
$ |
231,246 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
(357 |
) |
|
(62,627 |
) |
|
(17,354 |
) |
|
- |
|
|
(80,338 |
) |
|
Proceeds from sale of assets |
|
|
- |
|
|
23,534 |
|
|
87 |
|
|
- |
|
|
23,621 |
|
|
Distribution from affiliate |
|
|
1,854 |
|
|
206 |
|
|
- |
|
|
(2,060 |
) |
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
|
1,497 |
|
|
(38,887 |
) |
|
(17,267 |
) |
|
(2,060 |
) |
|
(56,717 |
) |
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt payments |
|
|
(51,500 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(51,500 |
) |
|
Fees paid related to financing activities |
|
|
(1,514 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(1,514 |
) |
|
Return of capital |
|
|
- |
|
|
- |
|
|
(2,060 |
) |
|
2,060 |
|
|
- |
|
|
Tax benefits from employee share-based exercises |
|
|
2,747 |
|
|
- |
|
|
- |
|
|
- |
|
|
2,747 |
|
|
Dividends paid |
|
|
(8,318 |
) |
|
|
|
|
|
|
|
|
|
|
(8,318 |
) |
|
Stock compensation plan activity |
|
|
(5,232 |
) |
|
- |
|
|
- |
|
|
- |
|
|
(5,232 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
|
|
(63,817 |
) |
|
- |
|
|
(2,060 |
) |
|
2,060 |
|
|
(63,817 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
- |
|
|
- |
|
|
1,027 |
|
|
- |
|
|
1,027 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
- |
|
|
87,653 |
|
|
24,086 |
|
|
- |
|
|
111,739 |
|
|
Cash and cash equivalents at beginning of year |
|
|
- |
|
|
43,374 |
|
|
45,201 |
|
|
- |
|
|
88,575 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year |
|
$ |
- |
|
$ |
131,027 |
|
$ |
69,287 |
|
$ |
- |
|
$ |
200,314 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net cash provided by operating activities |
|
$ |
158,297 |
|
$ |
1,736 |
|
$ |
27,416 |
|
$ |
- |
|
$ |
187,449 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
(1,193 |
) |
|
(53,953 |
) |
|
(11,236 |
) |
|
- |
|
|
(66,382 |
) |
|
Proceeds from sale of assets |
|
|
- |
|
|
1,218 |
|
|
25 |
|
|
- |
|
|
1,243 |
|
|
Acquisitions, net of cash acquired |
|
|
- |
|
|
(71,371 |
) |
|
- |
|
|
- |
|
|
(71,371 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
|
(1,193 |
) |
|
(124,106 |
) |
|
(11,211 |
) |
|
- |
|
|
(136,510 |
) |
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt payments |
|
|
(85,053 |
) |
|
(4 |
) |
|
- |
|
|
- |
|
|
(85,057 |
) |
|
Fees paid related to financing activities |
|
|
(1,394 |
) |
|
- |
|
|
(617 |
) |
|
- |
|
|
(2,011 |
) |
|
Intercompany financing to fund acquisition |
|
|
(72,067 |
) |
|
72,067 |
|
|
- |
|
|
- |
|
|
- |
|
|
Tax benefits from employee share-based exercises |
|
|
1,371 |
|
|
- |
|
|
- |
|
|
- |
|
|
1,371 |
|
|
Stock compensation plan activity |
|
|
39 |
|
|
- |
|
|
- |
|
|
- |
|
|
39 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in) provided by financing activities |
|
|
(157,104 |
) |
|
72,063 |
|
|
(617 |
) |
|
- |
|
|
(85,658 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
- |
|
|
- |
|
|
536 |
|
|
- |
|
|
536 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
- |
|
|
(50,307 |
) |
|
16,124 |
|
|
- |
|
|
(34,183 |
) |
|
Cash and cash equivalents at beginning of year |
|
|
- |
|
|
93,681 |
|
|
29,077 |
|
|
- |
|
|
122,758 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year |
|
$ |
- |
|
$ |
43,374 |
|
$ |
45,201 |
|
$ |
- |
|
$ |
88,575 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
Axiall Corporation and Subsidiaries
Supplemental Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Parent
Company |
|
Guarantor
Subsidiaries |
|
Non-Guarantor
Subsidiaries |
|
Eliminations |
|
Consolidated |
|
|
Net cash provided by operating activities |
|
$ |
55,411 |
|
$ |
100,283 |
|
$ |
28,105 |
|
$ |
- |
|
$ |
183,799 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
- |
|
|
(31,461 |
) |
|
(14,253 |
) |
|
- |
|
|
(45,714 |
) |
|
Proceeds from sale of assets |
|
|
- |
|
|
16 |
|
|
1,053 |
|
|
- |
|
|
1,069 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
|
- |
|
|
(31,445 |
) |
|
(13,200 |
) |
|
- |
|
|
(44,645 |
) |
|
Financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in ABL revolver |
|
|
(56,000 |
) |
|
- |
|
|
(353 |
) |
|
- |
|
|
(56,353 |
) |
|
Long-term debt payments |
|
|
- |
|
|
(37 |
) |
|
- |
|
|
- |
|
|
(37 |
) |
|
Fees paid related to financing activities |
|
|
(3,412 |
) |
|
- |
|
|
82 |
|
|
- |
|
|
(3,330 |
) |
|
Tax benefits from employee share-based exercises |
|
|
4,001 |
|
|
- |
|
|
- |
|
|
- |
|
|
4,001 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities |
|
|
(55,411 |
) |
|
(37 |
) |
|
(271 |
) |
|
- |
|
|
(55,719 |
) |
|
Effect of exchange rate changes on cash and cash equivalents |
|
|
- |
|
|
- |
|
|
526 |
|
|
- |
|
|
526 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash and cash equivalents |
|
|
- |
|
|
68,801 |
|
|
15,160 |
|
|
- |
|
|
83,961 |
|
|
Cash and cash equivalents at beginning of year |
|
|
- |
|
|
24,880 |
|
|
13,917 |
|
|
- |
|
|
38,797 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year |
|
$ |
- |
|
$ |
93,681 |
|
$ |
29,077 |
|
$ |
- |
|
$ |
122,758 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|