v2.4.1.9
GUARANTOR INFORMATION (Tables)
12 Months Ended
Dec. 31, 2014
GUARANTOR INFORMATION  
Guarantor Condensed Consolidating Balance Sheet Information

 

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Balance Sheet
December 31, 2014

                                                                                                                                                                                    

(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

 

$

-

 

$

-

 

$

78.2

 

$

78.2

 

$

88.6

 

$

-

 

$

166.8

 

Receivables, net of allowance for doubtful accounts

 

 

162.8

 

 

-

 

 

509.7

 

 

493.9

 

 

71.4

 

 

(261.1

)

 

467.0

 

Inventories

 

 

-

 

 

-

 

 

257.0

 

 

257.0

 

 

96.7

 

 

-

 

 

353.7

 

Prepaid expenses and other

 

 

0.1

 

 

-

 

 

83.0

 

 

83.0

 

 

6.6

 

 

-

 

 

89.7

 

Deferred income taxes

 

 

3.1

 

 

-

 

 

24.9

 

 

24.9

 

 

-

 

 

-

 

 

28.0

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current assets

 

 

166.0

 

 

-

 

 

952.8

 

 

937.0

 

 

263.3

 

 

(261.1

)

 

1,105.2

 

Property, plant and equipment, net

 

 

12.0

 

 

-

 

 

1,367.7

 

 

1,367.7

 

 

286.0

 

 

-

 

 

1,665.7

 

Long-term receivables—affiliates

 

 

1,292.9

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(1,292.9

)

 

-

 

Goodwill

 

 

-

 

 

-

 

 

1,493.7

 

 

1,493.7

 

 

247.3

 

 

-

 

 

1,741.0

 

Customer relationships, net

 

 

-

 

 

-

 

 

877.9

 

 

877.9

 

 

146.6

 

 

-

 

 

1,024.5

 

Other intangible assets, net

 

 

-

 

 

-

 

 

67.8

 

 

67.8

 

 

0.3

 

 

-

 

 

68.1

 

Other assets, net

 

 

17.0

 

 

12.4

 

 

31.7

 

 

44.0

 

 

9.4

 

 

(0.6

)

 

69.8

 

Investment in subsidiaries

 

 

1,682.7

 

 

2,831.2

 

 

290.5

 

 

290.5

 

 

-

 

 

(1,973.2

)

 

-  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total assets

 

$

3,170.6

 

$

2,843.6

 

$

5,082.1

 

$

5,078.6

 

$

952.9

 

$

(3,527.8

)

$

5,674.3

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Liabilities and Equity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current portion of long-term debt

 

$

-

 

$

2.8

 

$

-

 

$

2.8

 

$

-

 

$

-

 

$

2.8

 

Accounts payable

 

 

97.2

 

 

178.6

 

 

249.8

 

 

412.5

 

 

46.9

 

 

(261.1

)

 

295.5

 

Interest payable

 

 

3.0

 

 

12.2

 

 

-

 

 

12.2

 

 

-

 

 

-

 

 

15.2

 

Income taxes payable

 

 

-

 

 

-

 

 

0.9

 

 

0.9

 

 

2.2

 

 

-

 

 

3.1

 

Accrued compensation

 

 

-

 

 

-

 

 

25.3

 

 

25.3

 

 

8.3

 

 

-

 

 

33.6

 

Other accrued liabilities

 

 

14.3

 

 

-

 

 

90.3

 

 

90.3

 

 

29.3

 

 

-

 

 

133.9

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total current liabilities

 

 

114.5

 

 

193.6

 

 

366.3

 

 

544.0

 

 

86.7

 

 

(261.1

)

 

484.1

 

Long-term debt excluding current portion of long-term debt

 

 

450.0

 

 

877.8

 

 

-

 

 

877.8

 

 

-

 

 

-

 

 

1,327.8

 

Long-term payables—affiliates

 

 

-

 

 

900.0

 

 

-

 

 

900.0

 

 

392.9

 

 

(1,292.9

)

 

-

 

Lease financing obligation

 

 

-

 

 

-

 

 

-

 

 

-

 

 

94.2

 

 

-

 

 

94.2

 

Deferred income taxes

 

 

10.0

 

 

-

 

 

720.4

 

 

720.4

 

 

37.7

 

 

(0.6

)

 

767.5

 

Pension and other post retirement benefits

 

 

4.4

 

 

-

 

 

235.7

 

 

235.7

 

 

10.4

 

 

-

 

 

250.5

 

Other non-current liabilities

 

 

110.6

 

 

-

 

 

118.7

 

 

118.7

 

 

9.0

 

 

(77.1

)

 

161.2

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities

 

 

689.5

 

 

1,971.4

 

 

1,441.1

 

 

3,396.6

 

 

630.9

 

 

(1,631.7

)

 

3,085.3

 

Equity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Axiall stockholders' equity

 

 

2,481.1

 

 

872.2

 

 

3,641.0

 

 

1,682.0

 

 

214.1

 

 

(1,896.1

)

 

2,481.1

 

Noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

107.9

 

 

-

 

 

107.9

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total equity

 

 

2,481.1

 

 

872.2

 

 

3,641.0

 

 

1,682.0

 

 

322.0

 

 

(1,896.1

)

 

2,589.0

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total liabilities and equity

 

$

3,170.6

 

$

2,843.6

 

$

5,082.1

 

$

5,078.6

 

$

952.9

 

$

(3,527.8

)

$

5,674.3

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  


Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Balance Sheet
December 31, 2013

                                                                                                                                                                                    

(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

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

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

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

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

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Guarantor Consolidating Statement of Operations and Comprehensive Income (Loss) Information

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
Year Ended December 31, 2014

                                                                                                                                                                                    

(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

 

$

-

 

$

-

 

$

4,036.3

 

$

4,036.3

 

$

762.7

 

$

(230.3

)

$

4,568.7

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

-

 

 

-

 

 

3,658.1

 

 

3,658.1

 

 

640.3

 

 

(230.3

)

 

4,068.1

 

Selling, general and administrative expenses

 

 

45.5

 

 

-

 

 

188.6

 

 

188.6

 

 

76.4

 

 

-

 

 

310.5

 

Transaction-related costs and other, net

 

 

15.4

 

 

-

 

 

15.2

 

 

15.2

 

 

7.8

 

 

-

 

 

38.4

 

Long-lived asset impairment charges, net

 

 

-

 

 

-

 

 

17.5

 

 

17.5

 

 

0.1

 

 

-

 

 

17.6

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total operating costs and expenses

 

 

60.9

 

 

-

 

 

3,879.4

 

 

3,879.4

 

 

724.6

 

 

(230.3

)

 

4,434.6

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

(60.9

)

 

-

 

 

156.9

 

 

156.9

 

 

38.1

 

 

-

 

 

134.1

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

 

31.1

 

 

(87.4

)

 

1.9

 

 

(85.5

)

 

(21.4

)

 

-

 

 

(75.8

)

Foreign exchange loss

 

 

-

 

 

-

 

 

(0.5

)

 

(0.5

)

 

(0.1

)

 

-

 

 

(0.6

)

Equity in income (loss) of subsidiaries

 

 

55.7

 

 

(19.3

)

 

11.7

 

 

11.7

 

 

-

 

 

(67.4

)

 

-  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income (loss) before income taxes

 

 

25.9

 

 

(106.7

)

 

170.0

 

 

82.6

 

 

16.6

 

 

(67.4

)

 

57.7

 

Provision for (benefit from) income taxes

 

 

(20.4

)

 

(29.9

)

 

59.6

 

 

29.7

 

 

(1.8

)

 

-

 

 

7.5

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Consolidated net income (loss)

 

 

46.3

 

 

(76.8

)

 

110.4

 

 

52.9

 

 

18.4

 

 

(67.4

)

 

50.2

 

Less net income attributable to noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

3.9

 

 

-

 

 

3.9

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income (loss) attributable to Axiall

 

$

46.3

 

$

(76.8

)

$

110.4

 

$

52.9

 

$

14.5

 

$

(67.4

)

$

46.3

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income (loss) attributable to Axiall

 

$

(93.7

)

$

(193.1

)

$

(50.4

)

$

(107.9

)

$

(0.9

)

$

108.8

 

$

(93.7

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Operations and Comprehensive Income
Year Ended December 31, 2013

                                                                                                                                                                                    

(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

 

$

-

 

$

-

 

$

4,125.1

 

$

4,125.1

 

$

734.4

 

$

(193.5

)

$

4,666.0

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

-

 

 

-

 

 

3,520.8

 

 

3,520.8

 

 

597.2

 

 

(193.5

)

 

3,924.5

 

Selling, general and administrative expenses

 

 

41.3

 

 

-

 

 

181.4

 

 

181.4

 

 

76.4

 

 

-

 

 

299.1

 

Transaction related costs and other, net

 

 

34.4

 

 

-

 

 

(2.3

)

 

(2.3

)

 

3.5

 

 

-

 

 

35.6

 

Long-lived asset impairment charges, net

 

 

7.5

 

 

-

 

 

25.5

 

 

25.5

 

 

3.0

 

 

-

 

 

36.0

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total operating costs and expenses

 

 

83.2

 

 

-

 

 

3,725.4

 

 

3,725.4

 

 

680.1

 

 

(193.5

)

 

4,295.2

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

(83.2

)

 

-

 

 

399.7

 

 

399.7

 

 

54.3

 

 

-

 

 

370.8

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income (expense), net

 

 

(45.7

)

 

(45.8

)

 

37.7

 

 

(8.1

)

 

(22.8

)

 

-

 

 

(76.6

)

Loss on redemption and other debt costs

 

 

(66.1

)

 

(12.4

)

 

-

 

 

(12.4

)

 

-

 

 

-

 

 

(78.5

)

Gain on acquisition of controlling interest

 

 

-

 

 

-

 

 

25.9

 

 

25.9

 

 

-

 

 

-

 

 

25.9

 

Equity in income of subsidiaries

 

 

293.1

 

 

114.3

 

 

22.6

 

 

22.6

 

 

-

 

 

(315.7

)

 

-  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income before income taxes

 

 

98.1

 

 

56.1

 

 

485.9

 

 

427.7

 

 

31.5

 

 

(315.7

)

 

241.6

 

Provision for (benefit from) income taxes

 

 

(67.2

)

 

(19.7

)

 

157.1

 

 

137.4

 

 

3.4

 

 

-

 

 

73.6

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Consolidated net income

 

 

165.3

 

 

75.8

 

 

328.8

 

 

290.3

 

 

28.1

 

 

(315.7

)

 

168.0

 

Less net income attributable to noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

2.7

 

 

-

 

 

2.7

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Axiall

 

$

165.3

 

$

75.8

 

$

328.8

 

$

290.3

 

$

25.4

 

$

(315.7

)

$

165.3

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income attributable to Axiall

 

$

253.5

 

$

165.7

 

$

479.3

 

$

429.0

 

$

19.8

 

$

(448.8

)

$

253.5

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Operations and Comprehensive Income
Year Ended December 31, 2012

                                                                                                                                                                                    

(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

 

$

-

 

$

-

 

$

2,880.8

 

$

2,880.8

 

$

611.1

 

$

(166.1

)

$

3,325.8

 

Operating costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales

 

 

-

 

 

-

 

 

2,518.0

 

 

2,518.0

 

 

513.5

 

 

(166.1

)

 

2,865.4

 

Selling, general and administrative expenses

 

 

38.1

 

 

-

 

 

94.5

 

 

94.5

 

 

70.9

 

 

-

 

 

203.5

 

Transaction related costs and other, net

 

 

35.8

 

 

-

 

 

2.6

 

 

2.6

 

 

0.5

 

 

-

 

 

38.9

 

Long-lived asset impairment charges

 

 

-

 

 

-

 

 

(0.8

)

 

(0.8

)

 

-

 

 

-

 

 

(0.8

)

Gain on sale of assets

 

 

-

 

 

-

 

 

(19.3

)

 

(19.3

)

 

-

 

 

-

 

 

(19.3

)

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total operating costs and expenses

 

 

73.9

 

 

-

 

 

2,595.0

 

 

2,595.0

 

 

584.9

 

 

(166.1

)

 

3,087.7

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Operating income (loss)

 

 

(73.9

)

 

-

 

 

285.8

 

 

285.8

 

 

26.2

 

 

-

 

 

238.1

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income (expense), net

 

 

(89.9

)

 

-

 

 

56.3

 

 

56.3

 

 

(23.5

)

 

-

 

 

(57.1

)

Loss on redemption and other debt costs

 

 

(2.7

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(2.7

)

Foreign exchange gain (loss)

 

 

0.2

 

 

-

 

 

(0.1

)

 

(0.1

)

 

(0.7

)

 

-

 

 

(0.6

)

Equity in income of subsidiaries

 

 

233.3

 

 

-

 

 

0.7

 

 

0.7

 

 

-

 

 

(234.0

)

 

-  

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Income before income taxes

 

 

67.0

 

 

-

 

 

342.7

 

 

342.7

 

 

2.0

 

 

(234.0

)

 

177.7

 

Provision for (benefit from) income taxes

 

 

(53.5

)

 

-

 

 

115.2

 

 

115.2

 

 

(4.5

)

 

-

 

 

57.2

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net income attributable to Axiall

 

$

120.5

 

$

-

 

$

227.5

 

$

227.5

 

$

6.5

 

$

(234.0

)

$

120.5

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Comprehensive income attributable to Axiall

 

$

116.8

 

$

-

 

$

219.9

 

$

219.9

 

$

4.1

 

$

(224.0

)

$

116.8

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

 

Guarantor Condensed Consolidating Statement of Cash Flows Information

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2014

                                                                                                                                                                                    

(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 operating activities

 

$

68.2

 

$

12.4

 

$

194.4

 

$

197.6

 

$

46.1

 

$

(20.8

)

$

291.1

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(6.8

)

 

-

 

 

(185.1

)

 

(185.1

)

 

(18.6

)

 

-

 

 

(210.5

)

 

Proceeds from the sale of assets and other

 

 

-

 

 

-

 

 

7.7

 

 

7.7

 

 

0.4

 

 

-

 

 

8.1

 

 

Acquisitions, net of cash acquired

 

 

-

 

 

-

 

 

(5.8

)

 

(5.8

)

 

(0.3

)

 

-

 

 

(6.1

)

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in investing activities

 

 

(6.8

)

 

-

 

 

(183.2

)

 

(183.2

)

 

(18.5

)

 

-

 

 

(208.5

)

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings on ABL revolver

 

 

148.9

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

148.9

 

 

Repayments on ABL revolver

 

 

(148.9

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(148.9

)

 

Long-term debt payments

 

 

-

 

 

(2.8

)

 

(0.7

)

 

(3.5

)

 

-

 

 

-

 

 

(3.5

)

 

Fees paid related to financing activities

 

 

(1.8

)

 

(0.4

)

 

-

 

 

(0.4

)

 

-

 

 

-

 

 

(2.2

)

 

Lease financing obligation payment

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(2.3

)

 

-

 

 

(2.3

)

 

Deferred acquisition payments

 

 

(10.0

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(10.0

)

 

Dividends paid

 

 

(45.0

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(45.0

)

 

Distribution to noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(7.7

)

 

-

 

 

(7.7

)

 

Excess tax benefits from share-based payment arrangements

 

 

2.3

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

2.3

 

 

Stock compensation plan activity

 

 

(6.9

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(6.9

)

 

Distribution to affiliate

 

 

-

 

 

(9.2

)

 

(9.2

)

 

(9.2

)

 

(11.6

)

 

20.8

 

 

-

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in financing activities

 

 

(61.4

)

 

(12.4

)

 

(9.9

)

 

(13.1

)

 

(21.6

)

 

20.8

 

 

(75.3

)

 

Effect of exchange rate changes on cash and cash equivalents

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(7.0

)

 

-

 

 

(7.0

)

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net change in cash and cash equivalents

 

 

-

 

 

-

 

 

1.3

 

 

1.3

 

 

(1.0

)

 

-

 

 

0.3

 

 

Cash and cash equivalents at beginning of period

 

 

-

 

 

-

 

 

76.9

 

 

76.9

 

 

89.6

 

 

-

 

 

166.5

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash and cash equivalents at end of period

 

$

-

 

$

-

 

$

78.2

 

$

78.2

 

$

88.6

 

$

-

 

$

166.8

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2013

                                                                                                                                                                                    

(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 operating activities

 

$

60.1

 

$

112.0

 

$

94.0

 

$

206.0

 

$

59.6

 

$

-

 

$

325.7

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(8.7

)

 

-

 

 

(163.6

)

 

(163.6

)

 

(23.8

)

 

-

 

 

(196.1

)

 

Proceeds from sale of assets and other

 

 

-

 

 

-

 

 

11.1

 

 

11.1

 

 

0.3

 

 

 

 

 

11.4

 

 

Distribution from affiliate

 

 

15.9

 

 

15.9

 

 

19.9

 

 

19.9

 

 

-

 

 

(35.8

)

 

-

 

 

Acquisitions, net of cash acquired

 

 

21.6

 

 

-

 

 

-

 

 

-

 

 

23.5

 

 

-

 

 

45.1

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash provided by (used in) investing activities

 

 

28.8

 

 

15.9

 

 

(132.6

)

 

(132.6

)

 

-

 

 

(35.8

)

 

(139.6

)

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of long-term debt

 

 

450.0

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

450.0

 

 

Long-term debt payments

 

 

(450.0

)

 

(81.8

)

 

-

 

 

(81.8

)

 

-

 

 

-

 

 

(531.8

)

 

Make-whole and other fees paid related to financing activities

 

 

(65.9

)

 

(30.2

)

 

-

 

 

(30.2

)

 

(2.0

)

 

-

 

 

(98.1

)

 

Dividends paid

 

 

(22.2

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(22.2

)

 

Distribution to noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(13.3

)

 

-

 

 

(13.3

)

 

Excess tax benefits from share based payment arrangements

 

 

0.9

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

0.9

 

 

Stock compensation plan activity

 

 

(1.7

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(1.7

)

 

Distribution to affiliate

 

 

-

 

 

(15.9

)

 

(15.9

)

 

(15.9

)

 

(19.9

)

 

35.8

 

 

-

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in financing activities

 

 

(88.9

)

 

(127.9

)

 

(15.9

)

 

(127.9

)

 

(35.2

)

 

35.8

 

 

(216.2

)

 

Effect of exchange rate changes on cash and cash equivalents

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(3.7

)

 

-

 

 

(3.7

)

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net change in cash and cash equivalents

 

 

-

 

 

-

 

 

(54.5

)

 

(54.5

)

 

20.7

 

 

-

 

 

(33.8

)

 

Cash and cash equivalents at beginning of period

 

 

-

 

 

-

 

 

131.4

 

 

131.4

 

 

68.9

 

 

-

 

 

200.3

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash and cash equivalents at end of period

 

$

-

 

$

-

 

$

76.9

 

$

76.9

 

$

89.6

 

$

-

 

$

166.5

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Axiall Corporation and Subsidiaries
Guarantor Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2012

                                                                                                                                                                                    

(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 operating activities

 

$

62.3

 

$

-

 

$

126.9

 

$

126.9

 

$

42.0

 

$

-

 

$

231.2

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

(0.4

)

 

-

 

 

(62.6

)

 

(62.6

)

 

(17.3

)

 

-

 

 

(80.3

)

 

Proceeds from sale of assets and other

 

 

-

 

 

-

 

 

23.5

 

 

23.5

 

 

0.1

 

 

 

 

 

23.6

 

 

Distribution from affiliate

 

 

1.9

 

 

-

 

 

0.2

 

 

0.2

 

 

-

 

 

(2.1

)

 

-

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash provided by (used in) investing activities

 

 

1.5

 

 

-

 

 

(38.9

)

 

(38.9

)

 

(17.2

)

 

(2.1

)

 

(56.7

)

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Borrowings on ABL revolver

 

 

183.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

183.4

 

 

Repayments on ABL revolver

 

 

(183.4

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(183.4

)

 

Long-term debt payments

 

 

(51.5

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(51.5

)

 

Make-whole and other fees paid related to financing activities

 

 

(1.5

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(1.5

)

 

Dividends paid

 

 

(8.3

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(8.3

)

 

Distribution to noncontrolling interest

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(2.1

)

 

2.1

 

 

-

 

 

Excess tax benefits from share based payment arrangements

 

 

2.7

 

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

2.7

 

 

Stock compensation plan activity

 

 

(5.2

)

 

-

 

 

-

 

 

-

 

 

-

 

 

-

 

 

(5.2

)

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net cash used in financing activities

 

 

(63.8

)

 

-

 

 

-

 

 

-

 

 

(2.1

)

 

2.1

 

 

(63.8

)

 

Effect of exchange rate changes on cash and cash equivalents

 

 

-

 

 

-

 

 

-

 

 

-

 

 

1.0

 

 

-

 

 

1.0

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Net change in cash and cash equivalents

 

 

-

 

 

-

 

 

88.0

 

 

88.0

 

 

23.7

 

 

-

 

 

111.7

 

 

Cash and cash equivalents at beginning of period

 

 

-

 

 

-

 

 

43.4

 

 

43.4

 

 

45.2

 

 

-

 

 

88.6

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Cash and cash equivalents at end of period

 

$

-

 

$

-

 

$

131.4

 

$

131.4

 

$

68.9

 

$

-

 

$

200.3

 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​