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SUPPLEMENTAL GUARANTOR INFORMATION | 9 Months Ended
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Sep. 30, 2013
SUPPLEMENTAL GUARANTOR INFORMATION |
SUPPLEMENTAL GUARANTOR INFORMATION | 18. SUPPLEMENTAL GUARANTOR INFORMATION Axiall Corporation is effectively a holding company for all of its wholly-and majority-owned subsidiaries. Our payment obligations under the indentures for the 4.625 Notes and the 4.875 Notes and the Term Loan Credit Agreement, as described in Note 8 to the unaudited condensed consolidated financial statements, are guaranteed by Axiall, LLC, Georgia Gulf Lake Charles, LLC, Royal Mouldings Limited, Royal Window and Door Profiles Plant 13 Inc., Royal Window and Door Profiles Plant 14 Inc., Exterior Portfolio, LLC, Plastic Trends, Inc., Royal Group Sales (USA) Limited, Rome Delaware Corporation, Royal Plastics Group (U.S.A.) Limited, PHH Monomers, L.L.C., Eagle Holdco 3 LLC, Eagle US 2 LLC, Axiall Ohio, Inc. (formerly known as Eagle Controlled 2 Ohio Spinco, Inc.), Eagle Natrium LLC, and Eagle Pipeline, Inc., all of which are direct and indirect wholly-owned subsidiaries (together with Splitco the "Guarantor Subsidiaries") of Axiall Corporation effective January 28, 2013. Our wholly owned subsidiary Splitco is the issuer of the 4.625 Notes and the borrower under the Term Loan (as to each of which obligations Axiall is also a guarantor) and a subsidiary guarantor of the 4.875 Notes. Splitco is included in the Guarantor columns of the supplemental condensed consolidating balance sheet, and supplemental statement of operations and comprehensive income as of, and for the three and nine months ended September 30, 2013. Splitco is included in the Guarantor column of supplemental condensed consolidating statement of cash flows for the nine months ended September 30, 2013. Our payment obligations under the indenture for the prior 9 percent notes were 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 "Prior Guarantor Subsidiaries") of Axiall Corporation. Many of the covenants under this indenture were terminated in connection with the redemption of the 9 percent notes in February 2013. Information regarding the Prior Guarantor Subsidiaries of the 9 percent notes is included in the supplemental condensed consolidating balance sheet as of December 31, 2012, and supplemental statement of operations and comprehensive income as of and for the three and nine months ended September 30, 2012. Information regarding the Prior Guarantor Subsidiaries of the 9 percent notes is included in the Guarantor column of supplemental condensed consolidating statement of cash flows for the nine months ended September 30, 2012. The guarantees are full, unconditional and joint and several. Investments in subsidiaries in the supplemental guarantor financial statements reflect investments in wholly-owned entities within Axiall. The Guarantor Subsidiaries and our remaining subsidiaries (the "Non-Guarantor Subsidiaries") 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. The following supplemental condensed consolidating balance sheets, statements of operations and comprehensive income and statements of cash flows present the combined financial statements of the parent company and the combined financial statements of our Guarantor Subsidiaries (or Prior Guarantor Subsidiaries, as appropriate) and Non-Guarantor Subsidiaries. Separate financial statements of the Guarantor Subsidiaries and Prior Guarantor Subsidiaries are not presented because we have determined that they would not be material to investors. Axiall Corporation Supplemental Condensed Consolidating Balance Sheet September 30, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | - |  | $ | 15.7 |  | $ | 64.2 |  | $ | - |  | $ | 79.9 |
Receivables, net of allowance for doubtful accounts |  |  | 0.9 |  |  | 1,372.9 |  |  | 114.7 |  |  | (851.4 | ) |  | 637.1 |
Inventories |  |  | - |  |  | 309.9 |  |  | 104.9 |  |  | - |  |  | 414.8 |
Prepaid expenses and other |  |  | 21.8 |  |  | 40.3 |  |  | 3.5 |  |  | - |  |  | 65.6 |
Deferred income taxes |  |  | 7.9 |  |  | 2.3 |  |  | 0.2 |  |  | - |  |  | 10.4 |
Total current assets |  |  | 30.6 |  |  | 1,741.1 |  |  | 287.5 |  |  | (851.4 | ) |  | 1,207.8 |
Property, plant and equipment, net |  |  | 4.2 |  |  | 1,320.4 |  |  | 324.7 |  |  | - |  |  | 1,649.3 |
Long-term receivables—affiliates |  |  | 442.7 |  |  | - |  |  | - |  |  | (442.7 | ) |  | - |
Goodwill |  |  | - |  |  | 1,444.5 |  |  | 275.5 |  |  | - |  |  | 1,720.0 |
Intangibles, net |  |  | - |  |  | 970.7 |  |  | 168.9 |  |  | - |  |  | 1,139.6 |
Other assets, net |  |  | 12.7 |  |  | 47.9 |  |  | 15.8 |  |  | - |  |  | 76.4 |
Investment in subsidiaries |  |  | 3,436.9 |  |  | 311.5 |  |  | - |  |  | (3,748.4 | ) |  | - |
Total assets |  | $ | 3,927.1 |  | $ | 5,836.1 |  | $ | 1,072.4 |  | $ | (5,042.5 | ) | $ | 5,793.1 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | - |  | $ | 2.8 |  | $ | - |  | $ | - |  | $ | 2.8 |
Accounts payable |  |  | 856.6 |  |  | 277.8 |  |  | 49.0 |  |  | (851.4 | ) |  | 332.0 |
Interest payable |  |  | 8.5 |  |  | 4.3 |  |  | - |  |  | - |  |  | 12.8 |
Income taxes payable |  |  | - |  |  | - |  |  | 3.8 |  |  | - |  |  | 3.8 |
Accrued compensation |  |  | - |  |  | 34.0 |  |  | 13.5 |  |  | - |  |  | 47.5 |
Other accrued current liabilities |  |  | 10.7 |  |  | 80.2 |  |  | 37.8 |  |  | - |  |  | 128.7 |
Total current liabilities |  |  | 875.8 |  |  | 399.1 |  |  | 104.1 |  |  | (851.4 | ) |  | 527.6 |
Long-term debt excluding current portion of long-term debt |  |  | 450.0 |  |  | 880.5 |  |  | - |  |  | - |  |  | 1,330.5 |
Long-term payables—affiliates |  |  | - |  |  | - |  |  | 442.7 |  |  | (442.7 | ) |  | - |
Lease financing obligation |  |  | - |  |  | - |  |  | 108.3 |  |  | - |  |  | 108.3 |
Deferred income taxes |  |  | 11.4 |  |  | 686.4 |  |  | 46.1 |  |  | - |  |  | 743.9 |
Pension and other post retirement benefits |  |  | - |  |  | 319.6 |  |  | 11.9 |  |  | - |  |  | 331.5 |
Other non-current liabilities |  |  | 128.3 |  |  | 114.1 |  |  | 17.3 |  |  | (88.6 | ) |  | 171.1 |
Total liabilities |  |  | 1,465.5 |  |  | 2,399.7 |  |  | 730.4 |  |  | (1,382.7 | ) |  | 3,212.9 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Axiall stockholders' equity |  |  | 2,461.6 |  |  | 3,436.4 |  |  | 223.4 |  |  | (3,659.8 | ) |  | 2,461.6 |
Noncontrolling interest |  |  | - |  |  | - |  |  | 118.6 |  |  | - |  |  | 118.6 |
Total equity |  |  | 2,461.6 |  |  | 3,436.4 |  |  | 342.0 |  |  | (3,659.8 | ) |  | 2,580.2 |
Total liabilities and equity |  | $ | 3,927.1 |  | $ | 5,836.1 |  | $ | 1,072.4 |  | $ | (5,042.5 | ) | $ | 5,793.1 |
Axiall Corporation 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 |  |  | 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 excluding current portion of 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 |  |  | 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 |
Axiall Corporation Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 1,033.4 |  | $ | 215.9 |  | $ | (51.8 | ) | $ | 1,197.5 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 867.5 |  |  | 169.2 |  |  | (51.8 | ) |  | 984.9 |
Selling, general and administrative expenses |  |  | 10.0 |  |  | 62.8 |  |  | 21.1 |  |  | - |  |  | 93.9 |
Long-lived asset impairment charges, net |  |  | - |  |  | 22.9 |  |  | 2.9 |  |  | - |  |  | 25.8 |
Transaction related costs and other, net |  |  | 10.4 |  |  | 1.4 |  |  | 3.0 |  |  | - |  |  | 14.8 |
Total operating costs and expenses |  |  | 20.4 |  |  | 954.6 |  |  | 196.2 |  |  | (51.8 | ) |  | 1,119.4 |
Operating income (loss) |  |  | (20.4 | ) |  | 78.8 |  |  | 19.7 |  |  | - |  |  | 78.1 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  |  | (14.1 | ) |  | 0.2 |  |  | (5.8 | ) |  | - |  |  | (19.7 | )
Foreign exchange loss |  |  | - |  |  | - |  |  | (0.4 | ) |  | - |  |  | (0.4 | )
Equity in income of subsidiaries |  |  | 56.0 |  |  | 4.9 |  |  | - |  |  | (60.9 | ) |  | - |
Income before income taxes |  |  | 21.5 |  |  | 83.9 |  |  | 13.5 |  |  | (60.9 | ) |  | 58.0 |
Provision for (benefit from) income taxes |  |  | (17.5 | ) |  | 33.8 |  |  | 2.4 |  |  | - |  |  | 18.7 |
Consolidated net income |  |  | 39.0 |  |  | 50.1 |  |  | 11.1 |  |  | (60.9 | ) |  | 39.3 |
Less net income attributable to noncontrolling interest |  |  | - |  |  | - |  |  | 0.3 |  |  | - |  |  | 0.3 |
Net income attributable to Axiall |  | $ | 39.0 |  | $ | 50.1 |  | $ | 10.8 |  | $ | (60.9 | ) | $ | 39.0 |
Comprehensive income (loss) attributable to Axiall |  | $ | 46.4 |  | $ | 53.8 |  | $ | 12.6 |  | $ | (66.4 | ) | $ | 46.4 |
Axiall Corporation Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income Three Months Ended September 30, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 677.3 |  | $ | 176.3 |  | $ | (40.1 | ) | $ | 813.5 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 571.6 |  |  | 141.7 |  |  | (40.1 | ) |  | 673.2 |
Selling, general and administrative expenses |  |  | 10.2 |  |  | 24.6 |  |  | 18.7 |  |  | - |  |  | 53.5 |
Transaction related costs and other, net |  |  | 13.1 |  |  | 1.3 |  |  | 0.4 |  |  | - |  |  | 14.8 |
Gain on sale of assets, net |  |  | - |  |  | (1.9 | ) |  | - |  |  | - |  |  | (1.9 | )
Total operating costs and expenses |  |  | 23.3 |  |  | 595.6 |  |  | 160.8 |  |  | (40.1 | ) |  | 739.6 |
Operating income (loss) |  |  | (23.3 | ) |  | 81.7 |  |  | 15.5 |  |  | - |  |  | 73.9 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  |  | (23.2 | ) |  | 14.4 |  |  | (5.9 | ) |  | - |  |  | (14.7 | )
Foreign exchange loss |  |  | - |  |  | - |  |  | (0.2 | ) |  | - |  |  | (0.2 | )
Equity in income of subsidiaries |  |  | 69.7 |  |  | 0.9 |  |  | - |  |  | (70.6 | ) |  | - |
Income before income taxes |  |  | 23.2 |  |  | 97.0 |  |  | 9.4 |  |  | (70.6 | ) |  | 59.0 |
Provision for (benefit from) income taxes |  |  | (16.1 | ) |  | 34.0 |  |  | 1.8 |  |  | - |  |  | 19.7 |
Consolidated net income |  |  | 39.3 |  |  | 63.0 |  |  | 7.6 |  |  | (70.6 | ) |  | 39.3 |
Net income attributable to Axiall |  | $ | 39.3 |  | $ | 63.0 |  | $ | 7.6 |  | $ | (70.6 | ) | $ | 39.3 |
Comprehensive income attributable to Axiall |  | $ | 47.3 |  | $ | 63.0 |  | $ | 3.6 |  | $ | (66.6 | ) | $ | 47.3 |
Axiall Corporation and Subsidiaries Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 3,119.9 |  | $ | 564.9 |  | $ | (153.3 | ) | $ | 3,531.5 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 2,623.2 |  |  | 455.7 |  |  | (153.3 | ) |  | 2,925.6 |
Selling, general and administrative expenses |  |  | 27.8 |  |  | 180.4 |  |  | 61.7 |  |  | - |  |  | 269.9 |
Long-lived asset impairment charges, net |  |  | - |  |  | 25.5 |  |  | 2.9 |  |  | - |  |  | 28.4 |
Transaction related costs and other, net |  |  | 26.0 |  |  | 4.3 |  |  | 3.4 |  |  | - |  |  | 33.7 |
Total operating costs and expenses |  |  | 53.8 |  |  | 2,833.4 |  |  | 523.7 |  |  | (153.3 | ) |  | 3,257.6 |
Operating income (loss) |  |  | (53.8 | ) |  | 286.5 |  |  | 41.2 |  |  | - |  |  | 273.9 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  |  | (42.8 | ) |  | 2.5 |  |  | (17.1 | ) |  | - |  |  | (57.4 | )
Loss on redemption and other debt costs |  |  | (66.1 | ) |  | (12.4 | ) |  | - |  |  | - |  |  | (78.5 | )
Gain on acquisition of controlling interest |  |  | - |  |  | 23.5 |  |  | - |  |  | - |  |  | 23.5 |
Equity in income of subsidiaries |  |  | 213.5 |  |  | 13.8 |  |  | - |  |  | (227.3 | ) |  | - |
Income before income taxes |  |  | 50.8 |  |  | 313.9 |  |  | 24.1 |  |  | (227.3 | ) |  | 161.5 |
Provision for (benefit from) income taxes |  |  | (57.5 | ) |  | 103.9 |  |  | 4.9 |  |  | - |  |  | 51.3 |
Consolidated net income |  |  | 108.3 |  |  | 210.0 |  |  | 19.2 |  |  | (227.3 | ) |  | 110.2 |
Less net income attributable to noncontrolling interest |  |  | - |  |  | - |  |  | 1.9 |  |  | - |  |  | 1.9 |
Net income attributable to Axiall |  | $ | 108.3 |  | $ | 210.0 |  | $ | 17.3 |  | $ | (227.3 | ) | $ | 108.3 |
Comprehensive income (loss) attributable to Axiall |  | $ | 98.0 |  | $ | 205.9 |  | $ | 16.3 |  | $ | (222.2 | ) | $ | 98.0 |
Axiall Corporation and Subsidiaries Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income Nine Months Ended September 30, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net sales |  | $ | - |  | $ | 2,198.6 |  | $ | 479.6 |  | $ | (137.1 | ) | $ | 2,541.1 |
Operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | - |  |  | 1,949.1 |  |  | 398.5 |  |  | (137.1 | ) |  | 2,210.5 |
Selling, general and administrative expenses |  |  | 28.2 |  |  | 71.2 |  |  | 53.6 |  |  | - |  |  | 153.0 |
Long-lived asset impairment recoveries, net |  |  | - |  |  | (0.8 | ) |  | - |  |  | - |  |  | (0.8 | )
Transaction related costs and other, net |  |  | 25.1 |  |  | 1.6 |  |  | 0.5 |  |  | - |  |  | 27.2 |
Gain on sale of assets |  |  | - |  |  | (19.3 | ) |  | - |  |  | - |  |  | (19.3 | )
Total operating costs and expenses |  |  | 53.3 |  |  | 2,001.8 |  |  | 452.6 |  |  | (137.1 | ) |  | 2,370.6 |
Operating income (loss) |  |  | (53.3 | ) |  | 196.8 |  |  | 27.0 |  |  | - |  |  | 170.5 |
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income (expense), net |  |  | (66.5 | ) |  | 40.5 |  |  | (17.6 | ) |  | - |  |  | (43.6 | )
Foreign exchange gain (loss) |  |  | 0.2 |  |  | - |  |  | (0.8 | ) |  | - |  |  | (0.6 | )
Equity in income of subsidiaries |  |  | 171.7 |  |  | 1.2 |  |  | - |  |  | (172.9 | ) |  | - |
Income before income taxes |  |  | 52.1 |  |  | 238.5 |  |  | 8.6 |  |  | (172.9 | ) |  | 126.3 |
Provision for (benefit from) income taxes |  |  | (36.1 | ) |  | 75.7 |  |  | (1.5 | ) |  | - |  |  | 38.1 |
Consolidated net income |  |  | 88.2 |  |  | 162.8 |  |  | 10.1 |  |  | (172.9 | ) |  | 88.2 |
Net income attributable to Axiall |  | $ | 88.2 |  | $ | 162.8 |  | $ | 10.1 |  | $ | (172.9 | ) | $ | 88.2 |
Comprehensive income attributable to Axiall |  | $ | 96.2 |  | $ | 163.7 |  | $ | 6.7 |  | $ | (170.4 | ) | $ | 96.2 |
Axiall Corporation Supplemental Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2013 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net cash provided by operating activities |  | $ | 60.7 |  | $ | 76.4 |  | $ | 18.9 |  | $ | - |  | $ | 156.0 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (2.9 | ) |  | (91.9 | ) |  | (13.7 | ) |  | - |  |  | (108.5 | )
Proceeds from sale of assets |  |  | - |  |  | 11.1 |  |  | - |  |  | - |  |  | 11.1 |
Distribution from affiliate |  |  | 19.9 |  |  | 19.9 |  |  | - |  |  | (39.8 | ) |  | - |
Cash acquired in acquisition |  |  | - |  |  | - |  |  | 26.7 |  |  | - |  |  | 26.7 |
Net cash provided by (used in) investing activities |  |  | 17.0 |  |  | (60.9 | ) |  | 13.0 |  |  | (39.8 | ) |  | (70.7 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings on ABL revolver |  |  | 396.6 |  |  | - |  |  | 5.9 |  |  | - |  |  | 402.5 |
Repayments on ABL revolver |  |  | (396.6 | ) |  | - |  |  | (5.9 | ) |  | - |  |  | (402.5 | )
Issuance of long-term debt |  |  | 450.0 |  |  | - |  |  | - |  |  | - |  |  | 450.0 |
Long-term debt payments |  |  | (450.0 | ) |  | (81.1 | ) |  | - |  |  | - |  |  | (531.1 | )
Make-whole and other fees paid related to financing activities |  |  | (65.8 | ) |  | (30.2 | ) |  | (2.0 | ) |  | - |  |  | (98.0 | )
Dividends paid |  |  | (11.2 | ) |  | - |  |  | - |  |  | - |  |  | (11.2 | )
Distribution to affiliate |  |  | - |  |  | (19.9 | ) |  | (19.9 | ) |  | 39.8 |  |  | - |
Distribution to noncontrolling interest |  |  | - |  |  | - |  |  | (13.3 | ) |  | - |  |  | (13.3 | )
Excess tax benefits from share-based payment arrangements |  |  | 0.8 |  |  | - |  |  | - |  |  | - |  |  | 0.8 |
Stock compensation plan activity |  |  | (1.5 | ) |  | - |  |  | - |  |  | - |  |  | (1.5 | )
Net cash used in financing activities |  |  | (77.7 | ) |  | (131.2 | ) |  | (35.2 | ) |  | 39.8 |  |  | (204.3 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  | - |  |  | (1.4 | ) |  | - |  |  | (1.4 | )
Net change in cash and cash equivalents |  |  | - |  |  | (115.7 | ) |  | (4.7 | ) |  | - |  |  | (120.4 | )
Cash and cash equivalents at beginning of period |  |  | - |  |  | 131.4 |  |  | 68.9 |  |  | - |  |  | 200.3 |
Cash and cash equivalents at end of period |  | $ | - |  | $ | 15.7 |  | $ | 64.2 |  | $ | - |  | $ | 79.9 |
Axiall Corporation Supplemental Condensed Consolidating Statement of Cash Flows Nine Months Ended September 30, 2012 (Unaudited)
(In millions) |  | Parent Company |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Net cash provided by operating activities |  | $ | 3.7 |  | $ | 57.9 |  | $ | 4.1 |  | $ | - |  | $ | 65.7 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | (0.3 | ) |  | (45.6 | ) |  | (9.9 | ) |  | - |  |  | (55.8 | )
Proceeds from sale of assets |  |  | - |  |  | 23.5 |  |  | 0.1 |  |  | - |  |  | 23.6 |
Distributions from affiliate |  |  | 1.8 |  |  | 0.3 |  |  | - |  |  | (2.1 | ) |  | - |
Net cash provided by (used in) investing activities |  |  | 1.5 |  |  | (21.8 | ) |  | (9.8 | ) |  | (2.1 | ) |  | (32.2 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings on ABL revolver |  |  | 183.4 |  |  | - |  |  | - |  |  | - |  |  | 183.4 |
Repayments on ABL revolver |  |  | (183.4 | ) |  | - |  |  | - |  |  | - |  |  | (183.4 | )
Stock compensation plan activity |  |  | (5.1 | ) |  | - |  |  | - |  |  | - |  |  | (5.1 | )
Return on capital |  |  | - |  |  | - |  |  | (2.1 | ) |  | 2.1 |  |  | - |
Make-whole and other fees paid related to financing activities |  |  | (0.6 | ) |  | - |  |  | - |  |  | - |  |  | (0.6 | )
Dividends paid |  |  | (2.8 | ) |  | - |  |  | - |  |  | - |  |  | (2.8 | )
Excess tax benefits from share-based payment arrangements |  |  | 3.3 |  |  | - |  |  | - |  |  | - |  |  | 3.3 |
Net cash used in financing activities |  |  | (5.2 | ) |  | - |  |  | (2.1 | ) |  | 2.1 |  |  | (5.2 | )
Effect of exchange rate changes on cash and cash equivalents |  |  | - |  |  | - |  |  | 1.6 |  |  | - |  |  | 1.6 |
Net change in cash and cash equivalents |  |  | - |  |  | 36.1 |  |  | (6.2 | ) |  | - |  |  | 29.9 |
Cash and cash equivalents at beginning of period |  |  | - |  |  | 43.4 |  |  | 45.2 |  |  | - |  |  | 88.6 |
Cash and cash equivalents at end of period |  | $ | - |  | $ | 79.5 |  | $ | 39.0 |  | $ | - |  | $ | 118.5 |

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- Definition The entire disclosure of pertinent information about each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. + References No definition available. + Details
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