v2.4.0.8

SUPPLEMENTAL GUARANTOR INFORMATION (Tables)

3 Months Ended

Mar. 31, 2014

SUPPLEMENTAL GUARANTOR INFORMATION

Supplemental Condensed Consolidating Balance Sheet Information

AXIALL CORPORATION
Supplemental Condensed Consolidating Balance Sheet
March 31, 2014
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non- Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Assets
Cash and cash equivalents		​$	-		​$	-		​$	48.6		​$	48.6		​$	37.9		​$	-		​$	86.5
Receivables, net of allowance for doubtful accounts			128.0			-			467.4			451.9			83.7			(133.9	)		529.7
Inventories			-			-			326.7			326.7			116.7			-			443.4
Prepaid expenses and other			0.8			-			24.8			24.8			9.5			(0.2	)		34.9
Deferred income taxes			-			-			23.2			23.2			-			(2.7	)		20.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total current assets			128.8			-			890.7			875.2			247.8			(136.8	)		1,115.0
Property, plant and equipment, net			10.8			-			1,311.3			1,311.3			323.9			-			1,646.0
Long-term receivables—affiliates			1,312.3			-			-			-			-			(1,312.3	)		-
Goodwill			-			-			1,495.6			1,495.6			259.6			-			1,755.2
Customer relationships, net			-			-			921.8			921.8			159.8			-			1,081.6
Other intangible assets, net			-			-			71.3			71.3			0.3			-			71.6
Other assets, net			12.4			12.8			67.7			80.5			10.6			-			103.5
Investment in subsidiaries			1,757.3			2,877.9			309.5			309.5			-			(2,066.8	)		-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total assets		$	3,221.6		$	2,890.7		$	5,067.9		$	5,065.2		$	1,002.0		$	(3,515.9	)	$	5,772.9
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
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Liabilities and Equity
Current portion of long-term debt		$	-		$	2.8		$	-		$	2.8		$	-		$	-		$	2.8
Accounts payable			16.0			143.2			287.4			415.0			42.1			(133.9	)		339.2
Interest payable			8.5			4.2			-			4.2			-			-			12.7
Income taxes payable			-			-			0.2			0.2			3.9			(0.2	)		3.9
Accrued compensation			-			-			16.9			16.9			8.8			-			25.7
Other accrued current liabilities			23.2			-			71.2			71.2			36.2			(2.7	)		127.9
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total current liabilities			47.7			150.2			375.7			510.3			91.0			(136.8	)		512.2
Long-term debt excluding current portion of long-term debt			450.0			879.3			-			879.3			-			-			1,329.3
Long-term payables—affiliates			-			900.0			-			900.0			412.3			(1,312.3	)		-
Lease financing obligation			-			-			-			-			100.6			-			100.6
Deferred income taxes			25.2			-			780.4			780.4			41.8			-			847.4
Pension and other post-retirement benefits			3.4			-			113.7			113.7			8.8			-			125.9
Other non-current liabilities			120.6			-			123.9			123.9			13.0			(91.5	)		166.0
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total liabilities			646.9			1,929.5			1,393.7			3,307.6			667.5			(1,540.6	)		3,081.4
Equity
Total Axiall stockholders' equity			2,574.7			961.2			3,674.2			1,757.6			217.7			(1,975.3	)		2,574.7
Noncontrolling interest			-			-			-			-			116.8			-			116.8
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total equity			2,574.7			961.2			3,674.2			1,757.6			334.5			(1,975.3	)		2,691.5
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total liabilities and equity		$	3,221.6		$	2,890.7		$	5,067.9		$	5,065.2		$	1,002.0		$	(3,515.9	)	$	5,772.9
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AXIALL CORPORATION
Supplemental Condensed Consolidating Balance Sheet
December 31, 2013
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non- Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Assets:
Cash and cash equivalents		​$	-		​$	-		​$	76.9		​$	76.9		​$	89.6		​$	-		​$	166.5
Receivables, net of allowance for doubtful accounts			162.5			-			482.2			478.7			73.3			(165.7	)		548.8
Inventories			-			-			310.5			310.5			93.1			-			403.6
Prepaid expenses and other			1.3			-			26.1			26.1			4.2			-			31.6
Deferred income taxes			-			-			20.5			20.5			0.2			(2.7	)		18.0
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total current assets			163.8			-			916.2			912.7			260.4			(168.4	)		1,168.5
Property, plant and equipment, net			9.8			-			1,325.6			1,325.6			323.3			-			1,658.7
Long-term receivables—affiliates			1,328.6			-			-			-			-			(1,328.6	)		-
Goodwill			-			-			1,496.6			1,496.6			266.6			-			1,763.2
Customer relationships, net			-			-			935.2			935.2			166.6			-			1,101.8
Other intangible assets, net			-			-			72.9			72.9			-			-			72.9
Other assets, net			12.2			13.2			71.7			84.9			15.0			-			112.1
Investment in subsidiaries			1,747.7			2,950.8			312.9			312.9			-			(2,060.6	)		-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total assets		$	3,262.1		$	2,964.0		$	5,131.1		$	5,140.8		$	1,031.9		$	(3,557.6	)	$	5,877.2
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Liabilities and Equity
Current portion of long-term debt		$	-		$	2.8		$	-		$	2.8		$	-		$	-		$	2.8
Accounts payable			16.8			119.6			319.6			435.7			26.9			(165.7	)		313.7
Interest payable			3.1			12.3			-			12.3			-			-			15.4
Income taxes payable			-			-			12.2			12.2			4.9			-			17.1
Accrued compensation			0.5			-			49.6			49.6			11.4			-			61.5
Other accrued current liabilities			12.9			-			86.5			86.5			35.9			(2.7	)		132.6
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total current liabilities			33.3			134.7			467.9			599.1			79.1			(168.4	)		543.1
Long-term debt excluding current portion of long-term debt			450.0			880.0			-			880.0			-			-			1,330.0
Lease financing obligation			-			-			-			-			104.7			-			104.7
Long-term payables—affiliates			-			900.0			-			900.0			428.6			(1,328.6	)		-
Deferred income taxes			31.0			-			790.9			790.9			43.6			-			865.5
Pension and other post retirement benefits			13.7			-			107.0			107.0			9.1			-			129.8
Other non-current liabilities			125.2			-			116.4			116.4			20.9			(86.7	)		175.8
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total liabilities			653.2			1,914.7			1,482.2			3,393.4			686.0			(1,583.7	)		3,148.9
Equity
Total Axiall stockholders' equity			2,608.9			1,049.3			3,648.9			1,747.4			226.5			(1,973.9	)		2,608.9
Noncontrolling interest			-			-			-			-			119.4			-			119.4
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total equity			2,608.9			1,049.3			3,648.9			1,747.4			345.9			(1,973.9	)		2,728.3
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Total liabilities and equity		$	3,262.1		$	2,964.0		$	5,131.1		$	5,140.8		$	1,031.9		$	(3,557.6	)	$	5,877.2
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Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Information

AXIALL CORPORATION
Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended March 31, 2014
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non- Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Net sales		$	-		$	-		$	903.7		$	905.6		$	143.4		$	(55.3	)	$	993.7
Operating costs and expenses:
Cost of sales			-			-			843.4			845.3			123.3			(55.3	)		913.3
Selling, general and administrative expenses			10.9			-			42.8			42.8			19.9			-			73.6
Transaction-related costs and other, net			4.6			-			1.4			1.4			0.6			-			6.6
Long-lived asset impairment charges, net			-			-			0.4			0.4			0.2			-			0.6
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total operating costs and expenses			15.5			-			888.0			889.9			144.0			(55.3	)		994.1
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating income (loss)			(15.5	)		-			15.7			15.7			(0.6	)		-			(0.4	)
Other income (expense):
Interest income (expense), net			7.8			(21.4	)		0.6			(20.9	)		(5.2	)		-			(18.3	)
Foreign exchange gain (loss)			(0.1	)		-			(0.1	)		-			0.5			-			0.4
Equity in income (loss) of subsidiaries			(6.1	)		(28.3	)		3.0			3.0			-			3.1			-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Income (loss) before income taxes			(13.9	)		(49.7	)		19.2			(2.2	)		(5.3	)		3.1			(18.3	)
Provision for (benefit from) income taxes			(2.3	)		(6.2	)		2.0			(4.2	)		(1.2	)		-			(7.7	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Consolidated net income (loss)			(11.6	)		(43.5	)		17.2			2.0			(4.1	)		3.1			(10.6	)
Less net income attributable to noncontrolling interest			-			-			-			-			1.0			-			1.0
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income (loss) attributable to Axiall		$	(11.6	)	$	(43.5	)	$	17.2		$	2.0		$	(5.1	)	$	3.1		$	(11.6	)
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Comprehensive income (loss) attributable to Axiall		$	(24.9	)	$	(88.1	)	$	(26.6	)	$	(41.8	)	$	(9.8	)	$	51.6		$	(24.9	)
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AXIALL CORPORATION
Supplemental Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Three Months Ended March 31, 2013
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non- Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Net sales		$	-		$	-		$	970.0		$	971.7		$	135.6		$	(46.1	)	$	1,061.2
Operating costs and expenses:
Cost of sales			-			-			832.4			834.9			120.2			(46.1	)		909.0
Selling, general and administrative expenses			8.2			-			42.5			41.7			18.4			-			68.3
Transaction-related costs and other, net			9.1			-			0.7			0.7			0.3			-			10.1
Long-lived asset impairment charges, net			-			-			2.6			2.6			-			-			2.6
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total operating costs and expenses			17.3			-			878.2			879.9			138.9			(46.1	)		990.0
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating income (loss)			(17.3	)		-			91.8			91.8			(3.3	)		-			71.2
Other income (expense):
Interest income (expense), net			(16.5	)		(8.0	)		11.9			3.8			(5.6	)		-			(18.3	)
Loss on redemption and other debt costs			(66.1	)		(12.4	)		-			(12.4	)		-			-			(78.5	)
Gain on acquisition of controlling interest			-			-			23.5			23.5			-			-			23.5
Foreign exchange gain			(0.1	)		-			-			-			0.2			-			0.1
Equity in income of subsidiaries			66.0			24.5			2.4			2.4			-			(68.4	)		-
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Income (loss) before income taxes			(34.0	)		4.1			129.6			109.1			(8.7	)		(68.4	)		(2.0	)
Provision for (benefit from) income taxes			(30.5	)		(6.2	)		40.1			33.9			(2.6	)		-			0.8
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Consolidated net income (loss)			(3.5	)		10.3			89.5			75.2			(6.1	)		(68.4	)		(2.8	)
Less net income attributable to noncontrolling interest			-			-			-			-			0.7			-			0.7
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net income (loss) attributable to Axiall		$	(3.5	)	$	10.3		$	89.5		$	75.2		$	(6.8	)	$	(68.4	)	$	(3.5	)
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Comprehensive income (loss) attributable to Axiall		$	(11.2	)	$	-		$	89.1		$	89.1		$	(9.2	)	$	(79.9	)	$	(11.2	)
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Supplemental Condensed Consolidating Statement of Cash Flows Information

AXIALL CORPORATION
Supplemental Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2014
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Net cash provided by (used in) operating activities		$	13.0		$	0.7		$	5.9		$	6.6		$	(41.4	)	$	-		$	(21.8	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Cash flows from investing activities:
Capital expenditures			(1.8	)		-			(34.2	)		(34.2	)		(7.0	)		-			(43.0	)
Proceeds from sale of assets			-			-			-			-			0.1			-			0.1
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash used in investing activities			(1.8	)		-			(34.2	)		(34.2	)		(6.9	)		-			(42.9	)
Cash flows from financing activities:
Long-term debt payments			-			(0.7	)		-			(0.7	)		-			-			(0.7	)
Dividends paid			(11.2	)		-			-			-			-			-			(11.2	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash used in financing activities			(11.2	)		(0.7	)		-			(0.7	)		-			-			(11.9	)
Effect of exchange rate changes on cash and cash equivalents			-			-			-			-			(3.4	)		-			(3.4	)
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net change in cash and cash equivalents			-			-			(28.3	)		(28.3	)		(51.7	)		-			(80.0	)
Cash and cash equivalents at beginning of period			-			-			76.9			76.9			89.6			-			166.5
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Cash and cash equivalents at end of period		$	-		$	-		$	48.6		$	48.6		$	37.9		$	-		$	86.5
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AXIALL CORPORATION
Supplemental Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2013
(Unaudited)

(In millions)		Parent Company (a)			Eagle Spinco Inc.			Guarantor Subsidiaries Excluding Eagle Spinco Inc.			Guarantor Subsidiaries Including Eagle Spinco Inc. (b)			Non Guarantor Subsidiaries (c)			Eliminations (d)			Consolidated (a)+(b)+(c)+(d)
Net cash used in operating activities		$	(75.0	)	$	108.3		$	(109.1	)	$	(0.8	)	$	(29.0	)	$	-		$	(104.8	)
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Cash flows from investing activities:
Capital expenditures			-			-			(13.7	)		(13.7	)		(2.7	)		-			(16.4	)
Cash acquired in acquisition			-			-			-			-			26.7			-			26.7
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash provided by (used in) investing activities			-			-			(13.7	)		(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	)		-			(79.7	)		-			-			(529.7	)
Fees paid related to financing activities			(64.1	)		(28.6	)		-			(28.6	)		(1.7	)		-			(94.4	)
Stock compensation plan activity			0.1			-			-			-			-			-			0.1
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net cash provided by (used in) financing activities			75.0			(108.3	)		-			(108.3	)		(1.7	)		-			(35.0	)
Effect of exchange rate changes on cash and cash equivalents			-			-			-			-			(1.6	)		-			(1.6	)
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Net change in cash and cash equivalents			-			-			(122.8	)		(122.8	)		(8.3	)		-			(131.1	)
Cash and cash equivalents at beginning of period			-			-			131.4			131.4			68.9			-			200.3
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Cash and cash equivalents at end of period		$	-		$	-		$	8.6		$	8.6		$	60.6		$	-		$	69.2
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
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