v2.4.0.6

SUPPLEMENTAL GUARANTOR INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2013
SUPPLEMENTAL GUARANTOR INFORMATION |
Supplemental Condensed Consolidating Balance Sheet Information | Supplemental Condensed Consolidating Balance Sheet March 31, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | - |  | $ | 8.6 |  | $ | 60.6 |  | $ | - |  | $ | 69.2 |
Receivables, net of allowance for doubtful accounts |  |  | 1.5 |  |  | 1,243.9 |  |  | 91.1 |  |  | (699.6 | ) |  | 636.9 |
Inventories |  |  | - |  |  | 328.8 |  |  | 114.8 |  |  | - |  |  | 443.6 |
Prepaid expenses and other |  |  | - |  |  | 26.5 |  |  | 4.3 |  |  | - |  |  | 30.8 |
Deferred income taxes |  |  | 7.9 |  |  | - |  |  | 0.2 |  |  | (6.8 | ) |  | 1.3 |
Total current assets |  |  | 9.4 |  |  | 1,607.8 |  |  | 271.0 |  |  | (706.4 | ) |  | 1,181.8 |
Property, plant and equipment, net |  |  | 1.5 |  |  | 1,297.1 |  |  | 337.3 |  |  | - |  |  | 1,635.9 |
Long term receivables—affiliates |  |  | 448.7 |  |  | 86.4 |  |  | - |  |  | (535.1 | ) |  | - |
Goodwill |  |  | - |  |  | 1,395.7 |  |  | 271.5 |  |  | - |  |  | 1,667.2 |
Intangibles, net |  |  | - |  |  | 1,066.9 |  |  | 186.8 |  |  | - |  |  | 1,253.7 |
Other assets, net |  |  | 12.9 |  |  | 61.2 |  |  | 12.7 |  |  | - |  |  | 86.8 |
Investment in subsidiaries |  |  | 3,310.0 |  |  | 320.6 |  |  | - |  |  | (3,630.6 | ) |  | - |
Total assets |  | $ | 3,782.5 |  | $ | 5,835.7 |  | $ | 1,079.3 |  | $ | (4,872.1 | ) | $ | 5,825.4 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 52.3 |  | $ | 2.8 |  | $ | - |  | $ | - |  | $ | 55.1 |
Accounts payable |  |  | 708.6 |  |  | 285.5 |  |  | 49.7 |  |  | (699.6 | ) |  | 344.2 |
Interest payable |  |  | 4.0 |  |  | 5.5 |  |  | - |  |  | - |  |  | 9.5 |
Income taxes payable |  |  | - |  |  | 3.5 |  |  | 2.9 |  |  | - |  |  | 6.4 |
Accrued compensation |  |  | - |  |  | 23.7 |  |  | 10.6 |  |  | - |  |  | 34.3 |
Current deferred tax liability |  |  | - |  |  | 12.1 |  |  | 0.1 |  |  | (6.8 | ) |  | 5.4 |
Other accrued current liabilities |  |  | 1.2 |  |  | 79.6 |  |  | 30.7 |  |  | - |  |  | 111.5 |
Total current liabilities |  |  | 766.1 |  |  | 412.7 |  |  | 94.0 |  |  | (706.4 | ) |  | 566.4 |
Long-term debt |  |  | 536.7 |  |  | 881.5 |  |  | - |  |  | - |  |  | 1,418.2 |
Long-term payables—affiliates |  |  | - |  |  | - |  |  | 535.1 |  |  | (535.1 | ) |  | - |
Lease financing obligation |  |  | - |  |  | - |  |  | 110.0 |  |  | - |  |  | 110.0 |
Deferred income taxes |  |  | 13.5 |  |  | 716.2 |  |  | 47.5 |  |  | - |  |  | 777.2 |
Pension and other post retirement benefits |  |  | - |  |  | 315.9 |  |  | 11.6 |  |  | - |  |  | 327.5 |
Other non-current liabilities |  |  | 104.0 |  |  | 111.2 |  |  | 21.6 |  |  | (103.9 | ) |  | 132.9 |
Total liabilities |  |  | 1,420.3 |  |  | 2,437.5 |  |  | 819.8 |  |  | (1,345.4 | ) |  | 3,332.2 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Axiall stockholders' equity (deficit) |  |  | 2,362.2 |  |  | 3,398.2 |  |  | 128.5 |  |  | (3,526.7 | ) |  | 2,362.2 |
Noncontrolling interest |  |  | - |  |  | - |  |  | 131.0 |  |  | - |  |  | 131.0 |
Total equity |  |  | 2,362.2 |  |  | 3,398.2 |  |  | 259.5 |  |  | (3,526.7 | ) |  | 2,493.2 |
Total liabilities and equity |  | $ | 3,782.5 |  | $ | 5,835.7 |  | $ | 1,079.3 |  | $ | (4,872.1 | ) | $ | 5,825.4 |
Supplemental Condensed Consolidating Balance Sheet December 31, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | - |  | $ | 131.0 |  | $ | 69.3 |  | $ | - |  | $ | 200.3 |
Receivables, net of allowance for doubtful accounts |  |  | 2.2 |  |  | 989.1 |  |  | 55.3 |  |  | (731.7 | ) |  | 314.9 |
Inventories |  |  | - |  |  | 201.6 |  |  | 86.8 |  |  | - |  |  | 288.4 |
Prepaid expenses and other |  |  | - |  |  | 11.9 |  |  | 2.8 |  |  | - |  |  | 14.7 |
Deferred income taxes |  |  | 7.9 |  |  | 13.0 |  |  | 0.2 |  |  | - |  |  | 21.1 |
Total current assets |  |  | 10.1 |  |  | 1,346.6 |  |  | 214.4 |  |  | (731.7 | ) |  | 839.4 |
Property, plant and equipment, net |  |  | 1.5 |  |  | 422.0 |  |  | 214.2 |  |  | - |  |  | 637.7 |
Long term receivables—affiliates |  |  | 458.0 |  |  | 9.4 |  |  | - |  |  | (467.4 | ) |  | - |
Goodwill |  |  | - |  |  | 105.0 |  |  | 112.2 |  |  | - |  |  | 217.2 |
Intangible assets, net |  |  | - |  |  | 40.9 |  |  | 2.5 |  |  | - |  |  | 43.4 |
Other assets, net |  |  | 14.0 |  |  | 38.8 |  |  | 10.8 |  |  | - |  |  | 63.6 |
Investment in subsidiaries |  |  | 1,446.5 |  |  | - |  |  | - |  |  | (1,446.5 | ) |  | - |
Total assets |  | $ | 1,930.1 |  | $ | 1,962.7 |  | $ | 554.1 |  | $ | (2,645.6 | ) | $ | 1,801.3 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 745.1 |  | $ | 176.3 |  | $ | 21.5 |  | $ | (731.7 | ) | $ | 211.2 |
Interest payable |  |  | 18.9 |  |  | - |  |  | - |  |  | - |  |  | 18.9 |
Income taxes payable |  |  | - |  |  | 13.9 |  |  | 1.2 |  |  | - |  |  | 15.1 |
Accrued compensation |  |  | - |  |  | 29.4 |  |  | 15.3 |  |  | - |  |  | 44.7 |
Other accrued liabilities |  |  | 1.0 |  |  | 38.5 |  |  | 21.7 |  |  | - |  |  | 61.2 |
Total current liabilities |  |  | 765.0 |  |  | 258.1 |  |  | 59.7 |  |  | (731.7 | ) |  | 351.1 |
Long-term debt |  |  | 448.1 |  |  | - |  |  | - |  |  | - |  |  | 448.1 |
Lease financing obligation |  |  | - |  |  | - |  |  | 112.3 |  |  | - |  |  | 112.3 |
Long-term payables—affiliates |  |  | - |  |  | - |  |  | 467.4 |  |  | (467.4 | ) |  | - |
Deferred income taxes |  |  | 16.9 |  |  | 161.0 |  |  | - |  |  | - |  |  | 177.9 |
Pension and other post retirement benefits |  |  | - |  |  | 48.3 |  |  | - |  |  | - |  |  | 48.3 |
Other non-current liabilities |  |  | 96.6 |  |  | 48.7 |  |  | 19.6 |  |  | (104.8 | ) |  | 60.1 |
Total liabilities |  |  | 1,326.6 |  |  | 516.1 |  |  | 659.0 |  |  | (1,303.9 | ) |  | 1,197.8 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Axiall stockholders' equity (deficit) |  |  | 603.5 |  |  | 1,446.6 |  |  | (104.9 | ) |  | (1,341.7 | ) |  | 603.5 |
Total equity |  |  | 603.5 |  |  | 1,446.6 |  |  | (104.9 | ) |  | (1,341.7 | ) |  | 603.5 |
Total liabilities and equity |  | $ | 1,930.1 |  | $ | 1,962.7 |  | $ | 554.1 |  | $ | (2,645.6 | ) | $ | 1,801.3 |
Supplemental Condensed Consolidating Statements of Income and Comprehensive Income Information | Axiall Corporation Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 31, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 971.7 |  | $ | 135.6 |  | $ | (46.1 | ) | $ | 1,061.2 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 825.5 |  |  | 119.6 |  |  | (46.1 | ) |  | 899.0 |
Selling, general and administrative expenses |  |  | 8.2 |  |  | 51.1 |  |  | 19.0 |  |  | - |  |  | 78.3 |
Transaction related costs and other, net |  |  | 9.1 |  |  | 0.7 |  |  | 0.3 |  |  | - |  |  | 10.1 |
Long-lived asset impairment charges (recoveries), net |  |  | - |  |  | 2.6 |  |  | - |  |  | - |  |  | 2.6 |
Total operating costs and expenses |  |  | 17.3 |  |  | 879.9 |  |  | 138.9 |  |  | (46.1 | ) |  | 990.0 |
Operating income (loss) |  |  | (17.3 | ) |  | 91.8 |  |  | (3.3 | ) |  | - |  |  | 71.2 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss on redemption and other debt costs |  |  | (66.1 | ) |  | (12.4 | ) |  | - |  |  | - |  |  | (78.5 | )
Interest expense, net |  |  | (16.5 | ) |  | 3.8 |  |  | (5.6 | ) |  | - |  |  | (18.3 | )
Gain on acquisition of controlling interest |  |  | - |  |  | 23.5 |  |  | - |  |  | - |  |  | 23.5 |
Foreign exchange gain (loss) |  |  | (0.1 | ) |  | - |  |  | 0.2 |  |  | - |  |  | 0.1 |
Equity in income (loss) of subsidiaries |  |  | 83.9 |  |  | 2.3 |  |  | - |  |  | (86.2 | ) |  | - |
Income (loss) before income taxes |  |  | (16.1 | ) |  | 109.0 |  |  | (8.7 | ) |  | (86.2 | ) |  | (2.0 | )
Provision for (benefit from) income taxes |  |  | (12.6 | ) |  | 16.0 |  |  | (2.6 | ) |  | - |  |  | 0.8 |
Consolidated net income (loss) |  |  | (3.5 | ) |  | 93.0 |  |  | (6.1 | ) |  | (86.2 | ) |  | (2.8 | )
Less net income attributable to noncontrolling interest |  |  | - |  |  | - |  |  | 0.7 |  |  | - |  |  | 0.7 |
Net income (loss) attributable to Axiall |  | $ | (3.5 | ) | $ | 93.0 |  | $ | (6.8 | ) | $ | (86.2 | ) | $ | (3.5 | )
Comprehensive income (loss) attributable to Axiall |  | $ | (11.2 | ) | $ | 89.1 |  | $ | (9.2 | ) | $ | (79.9 | ) | $ | (11.2 | )
Axiall Corporation and Subsidiaries Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three Months Ended March 31, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 781.7 |  | $ | 126.8 |  | $ | (48.6 | ) | $ | 859.9 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 692.8 |  |  | 112.2 |  |  | (48.6 | ) |  | 756.4 |
Selling, general and administrative expenses |  |  | 7.8 |  |  | 23.2 |  |  | 16.7 |  |  | - |  |  | 47.7 |
Transaction related costs and other, net |  |  | 5.0 |  |  | 0.3 |  |  | - |  |  | - |  |  | 5.3 |
Long-lived asset impairment charges (recoveries), net |  |  | - |  |  | (0.3 | ) |  | - |  |  | - |  |  | (0.3 | )
Gain on sale of assets |  |  | - |  |  | (17.4 | ) |  | - |  |  | - |  |  | (17.4 | )
Total operating costs and expenses |  |  | 12.8 |  |  | 698.6 |  |  | 128.9 |  |  | (48.6 | ) |  | 791.7 |
Operating income (loss) |  |  | (12.8 | ) |  | 83.1 |  |  | (2.1 | ) |  | - |  |  | 68.2 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  |  | (21.5 | ) |  | 13.0 |  |  | (5.9 | ) |  | - |  |  | (14.4 | )
Foreign exchange gain (loss) |  |  | 0.3 |  |  | - |  |  | (0.4 | ) |  | - |  |  | (0.1 | )
Equity in income (loss) of subsidiaries |  |  | 57.7 |  |  | (0.8 | ) |  | - |  |  | (56.9 | ) |  | - |
Income (loss) before income taxes |  |  | 23.7 |  |  | 95.3 |  |  | (8.4 | ) |  | (56.9 | ) |  | 53.7 |
Provision for (benefit from) income taxes |  |  | (11.6 | ) |  | 30.1 |  |  | (0.1 | ) |  | - |  |  | 18.4 |
Consolidated net income (loss) |  |  | 35.3 |  |  | 65.2 |  |  | (8.3 | ) |  | (56.9 | ) |  | 35.3 |
Net income (loss) attributable to Axiall |  | $ | 35.3 |  | $ | 65.2 |  | $ | (8.3 | ) | $ | (56.9 | ) | $ | 35.3 |
Comprehensive income (loss) attributable to Axiall |  | $ | 38.2 |  | $ | 64.4 |  | $ | (10.6 | ) | $ | (53.8 | ) | $ | 38.2 |
Supplemental Condensed Consolidating Statement of Cash Flows Information | Axiall Corporation Supplemental Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net cash used in operating activities |  | $ | (75.0 | ) | $ | (0.8 | ) | $ | (29.0 | ) | $ | - |  | $ | (104.8 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | - |  |  | (13.7 | ) |  | (2.7 | ) |  | - |  |  | (16.4 | )
Cash acquired in acquisition |  |  | - |  |  | - |  |  | 26.7 |  |  | - |  |  | 26.7 |
Net cash provided by (used in) investing activities |  |  | - |  |  | (13.7 | ) |  | 24.0 |  |  | - |  |  | 10.3 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings on ABL revolver |  |  | 222.7 |  |  | - |  |  | - |  |  | - |  |  | 222.7 |
Repayments on ABL revolver |  |  | (83.7 | ) |  | - |  |  | - |  |  | - |  |  | (83.7 | )
Issuance of long-term debt |  |  | 450.0 |  |  | - |  |  | - |  |  | - |  |  | 450.0 |
Long-term debt payments |  |  | (450.0 | ) |  | (79.7 | ) |  | - |  |  | - |  |  | (529.7 | )
Fees paid related to financing activities |  |  | (64.1 | ) |  | (28.6 | ) |  | (1.7 | ) |  | - |  |  | (94.4 | )
Excess tax benefits from share-based payment arrangements |  |  | 0.1 |  |  | - |  |  | - |  |  | - |  |  | 0.1 |
Net cash provided by (used in) financing activities |  |  | 75.0 |  |  | (108.3 | ) |  | (1.7 | ) |  | - |  |  | (35.0 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  | - |  |  | (1.6 | ) |  | - |  |  | (1.6 | )
Net change in cash and cash equivalents |  |  | - |  |  | (122.8 | ) |  | (8.3 | ) |  | - |  |  | (131.1 | )
Cash and cash equivalents at beginning of period |  |  | - |  |  | 131.4 |  |  | 68.9 |  |  | - |  |  | 200.3 |
Cash and cash equivalents at end of period |  | $ | - |  | $ | 8.6 |  | $ | 60.6 |  | $ | - |  | $ | 69.2 |
Axiall Corporation Supplemental Condensed Consolidating Statement of Cash Flows Three Months Ended March 31, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net cash used in operating activities |  | $ | (30.8 | ) | $ | (33.0 | ) | $ | (21.7 | ) | $ | - |  | $ | (85.5 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (0.1 | ) |  | (9.1 | ) |  | (4.3 | ) |  | - |  |  | (13.5 | )
Proceeds from sale of assets |  |  | - |  |  | 19.3 |  |  | - |  |  | - |  |  | 19.3 |
Distributions from affiliate |  |  | 1.9 |  |  | 0.2 |  |  | - |  |  | (2.1 | ) |  | - |
Net cash provided by (used in) investing activities |  |  | 1.8 |  |  | 10.4 |  |  | (4.3 | ) |  | (2.1 | ) |  | 5.8 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings on ABL revolver |  |  | 89.1 |  |  | - |  |  | - |  |  | - |  |  | 89.1 |
Repayments on ABL revolver |  |  | (60.1 | ) |  | - |  |  | - |  |  | - |  |  | (60.1 | )
Return on capital |  |  | - |  |  | - |  |  | (2.1 | ) |  | 2.1 |  |  | - |
Net cash provided by (used in) financing activities |  |  | 29.0 |  |  | - |  |  | (2.1 | ) |  | 2.1 |  |  | 29.0 |
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  | - |  |  | 1.1 |  |  | - |  |  | 1.1 |
Net change in cash and cash equivalents |  |  | - |  |  | (22.6 | ) |  | (27.0 | ) |  | - |  |  | (49.6 | )
Cash and cash equivalents at beginning of period |  |  | - |  |  | 43.4 |  |  | 45.2 |  |  | - |  |  | 88.6 |
Cash and cash equivalents at end of period |  | $ | - |  | $ | 20.8 |  | $ | 18.2 |  | $ | - |  | $ | 39.0 |

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