Guarantor Information (Tables)

AXIALL CORPORATION

Guarantor Condensed Consolidating Balance Sheet

As of June 30, 2016

(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	$	-	$	-	$	24.9	$	24.9	$	103.5	$	-	$	128.4
Receivables, net of allowance for doubtful accounts		49.4		9.1		515.7		515.7		85.5		(195.6)		455.0
Inventories		-		-		218.2		218.2		57.8		-		276.0
Prepaid expenses and other		0.5		-		92.1		92.1		7.9		-		100.5
Current assets of discontinued operations		-		-		0.8		0.8		-		-		0.8

Total current assets		49.9		9.1		851.7		851.7		254.7		(195.6)		960.7
Property, plant and equipment, net		10.1		-		1,380.3		1,380.3		168.4		-		1,558.8
Long-term receivables—affiliates		900.0		-		-		-		-		(900.0)		-
Goodwill		-		-		707.8		707.8		148.6		-		856.4
Customer relationships, net		-		-		795.6		795.6		127.6		-		923.2
Other intangible assets, net		-		-		60.8		60.8		-		-		60.8
Other assets, net		4.5		1.7		73.9		73.9		3.3		-		81.7
Investment in subsidiaries		1,177.0		1,795.1		467.9		467.9		-		(1,644.9)		-

Total assets	$	2,141.5	$	1,805.9	$	4,338.0	$	4,338.0	$	702.6	$	(2,740.5)	$	4,441.6

Liabilities and Equity:
Current portion of long-term debt	$	-	$	-	$	2.5	$	2.5	$	-	$	-	$	2.5
Accounts payable		127.1		49.3		236.3		276.5		48.3		(195.6)		256.3
Interest payable		3.1		12.1		-		12.1		-		-		15.2
Income taxes payable		-		-		-		-		2.4		-		2.4
Accrued compensation		1.3		-		51.6		51.6		7.3		-		60.2
Other accrued liabilities		34.4		-		79.6		79.6		21.9		-		135.9
Current liabilities of discontinued operations		-		-		6.8		6.8		-		-		6.8

Total current liabilities		165.9		61.4		376.8		429.1		79.9		(195.6)		479.3
Long-term debt, excluding the current portion of long-term debt		444.6		679.2		240.9		920.2		-		-		1,364.8
Long-term payables—affiliates		-		900.0		-		900.0		-		(900.0)		-
Lease financing obligation		-		-		-		-		46.8		-		46.8
Deferred income taxes		19.3		-		612.1		610.3		31.5		-		661.1
Pension and other post-retirement benefits		3.3		-		179.7		179.7		6.7		-		189.7
Other non-current liabilities		11.3		-		121.9		121.9		8.6		(9.5)		132.3

Total liabilities		644.4		1,640.6		1,531.4		3,161.2		173.5		(1,105.1)		2,874.0
Equity:
Total Axiall stockholders’ equity		1,497.1		165.3		2,806.6		1,176.8		458.6		(1,635.4)		1,497.1
Noncontrolling interest		-		-		-		-		70.5		-		70.5

Total equity		1,497.1		165.3		2,806.6		1,176.8		529.1		(1,635.4)		1,567.6

Total liabilities and equity	$	2,141.5	$	1,805.9	$	4,338.0	$	4,338.0	$	702.6	$	(2,740.5)	$	4,441.6

AXIALL CORPORATION

Guarantor Condensed Consolidating Balance Sheet

As of December 31, 2015

(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	$	0.3	$	-	$	161.7	$	161.7	$	96.0	$	-	$	258.0
Receivables, net of allowance for doubtful accounts		27.1		5.5		377.8		377.8		48.0		(97.6)		355.3
Inventories		-		-		217.6		217.6		63.3		-		280.9
Prepaid expenses and other		0.7		-		55.9		55.9		2.7		(0.4)		58.9
Current assets of discontinued operations		-		-		19.3		19.3		17.6		-		36.9

Total current assets		28.1		5.5		832.3		832.3		227.6		(98.0)		990.0
Property, plant and equipment, net		11.0		-		1,357.9		1,357.9		187.6		-		1,556.5
Long-term receivables—affiliates		900.0		-		-		-		-		(900.0)		-
Goodwill		-		-		707.8		707.8		144.3		-		852.1
Customer relationships, net		-		-		823.1		823.1		127.2		-		950.3
Other intangible assets, net		-		-		63.1		63.1		0.3		-		63.4
Non-current assets of discontinued operations		-		-		18.4		18.4		43.6		-		62.0
Other assets, net		5.6		1.7		56.2		56.2		3.3		-		65.1
Investment in subsidiaries		1,235.5		1,833.3		473.2		473.2		-		(1,708.7)		-

Total assets	$	2,180.2	$	1,840.5	$	4,332.0	$	4,332.0	$	733.9	$	(2,706.7)	$	4,539.4

Liabilities and Equity:
Current portion of long-term debt	$	-	$	-	$	2.5	$	2.5	$	-	$	-	$	2.5
Accounts payable		81.7		27.0		214.9		236.4		24.3		(97.6)		244.8
Interest payable		3.2		12.2		-		12.2		-		-		15.4
Income taxes payable		-		-		0.4		0.4		2.2		(0.4)		2.2
Accrued compensation		9.5		-		23.7		23.7		7.8		-		41.0
Other accrued liabilities		16.2		-		45.6		45.6		32.9		-		94.7
Current liabilities of discontinued operations		-		-		9.3		9.3		6.2		-		15.5

Total current liabilities		110.6		39.2		296.4		330.1		73.4		(98.0)		416.1
Long-term debt, excluding the current portion of long-term debt		444.2		678.4		241.9		920.3		-		-		1,364.5
Long-term payables—affiliates		-		900.0		-		900.0		-		(900.0)		-
Lease financing obligation		-		-		-		-		44.0		-		44.0
Deferred income taxes		18.0		-		636.1		634.4		30.6		-		683.0
Pension and other post-retirement benefits		3.6		-		189.9		189.9		9.3		-		202.8
Non-current liabilities of discontinued operations		-		-		-		-		35.6		-		35.6
Other non-current liabilities		25.5		-		113.2		113.2		8.8		(7.2)		140.3

Total liabilities		601.9		1,617.6		1,477.5		3,087.9		201.7		(1,005.2)		2,886.3
Equity:
Total Axiall stockholders’ equity		1,578.3		222.9		2,854.5		1,244.1		457.4		(1,701.5)		1,578.3
Noncontrolling interest		-		-		-		-		74.8		-		74.8

Total equity		1,578.3		222.9		2,854.5		1,244.1		532.2		(1,701.5)		1,653.1

Total liabilities and equity	$	2,180.2	$	1,840.5	$	4,332.0	$	4,332.0	$	733.9	$	(2,706.7)	$	4,539.4

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

For the Three Months Ended June 30, 2016

(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	$	-	$	-	$	670.7	$	670.7	$	136.9	$	(31.5)	$	776.1
Operating costs and expenses:
Cost of sales		-		-		630.2		630.2		106.8		(31.5)		705.5
Selling, general and administrative expenses		14.4		-		42.9		42.9		12.5		-		69.8
Restructuring and divestiture costs		2.0		-		1.8		1.8		0.7		-		4.5
Integration-related costs and other, net		0.4		-		1.7		1.7		-		-		2.1
Legal and settlement claims, net		-		-		23.4		23.4		-		-		23.4
Fees associated with unsolicited offer and strategic alternatives		8.4		-		-		-		-		-		8.4

Total operating costs and expenses		25.2		-		700.0		700.0		120.0		(31.5)		813.7

Operating income (loss)		(25.2)		-		(29.3)		(29.3)		16.9		-		(37.6)
Other income (expense):
Interest income (expense), net		4.7		(19.8)		(1.9)		(21.7)		(1.0)		-		(18.0)
Foreign currency exchange loss		-		-		(0.1)		(0.1)		-		-		(0.1)
Equity in income (loss) of subsidiaries		(16.8)		(22.0)		17.2		17.2		-		(0.4)		-

Income (loss) from continuing operations before income taxes		(37.3)		(41.8)		(14.1)		(33.9)		15.9		(0.4)		(55.7)
Benefit from income taxes		(9.5)		(9.1)		(7.9)		(17.0)		(1.9)		-		(28.4)

Income (loss) from continuing operations		(27.8)		(32.7)		(6.2)		(16.9)		17.8		(0.4)		(27.3)
Discontinued operations:
Loss from discontinued operations		-		-		(1.6)		(1.6)		(0.1)		-		(1.7)
Less: Benefit from income taxes of discontinued operations		-		-		(1.7)		(1.7)		-		-		(1.7)

Net income (loss) from discontinued operations		-		-		0.1		0.1		(0.1)		-		-

Consolidated net income (loss)		(27.8)		(32.7)		(6.1)		(16.8)		17.7		(0.4)		(27.3)
Less: net income attributable to noncontrolling interest		-		-		-		-		0.5		-		0.5

Net income (loss) attributable to Axiall	$	(27.8)	$	(32.7)	$	(6.1)	$	(16.8)	$	17.2	$	(0.4)	$	(27.8)



Comprehensive income (loss) attributable to Axiall	$	(28.2)	$	(34.6)	$	(6.6)	$	(17.3)	$	17.3	$	-	$	(28.2)

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Operations and

Comprehensive Loss

For the Three Months Ended June 30, 2015

(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	$	-	$	-	$	756.9	$	756.9	$	167.9	$	(55.6)	$	869.2
Operating costs and expenses:
Cost of sales		-		-		670.1		670.1		131.2		(55.6)		745.7
Selling, general and administrative expenses		13.9		-		44.3		44.3		17.6		-		75.8
Restructuring and divestiture costs		0.5		-		(0.1)		(0.1)		-		-		0.4
Integration-related costs and other, net		2.0		-		2.2		2.2		-		-		4.2

Total operating costs and expenses		16.4		-		716.5		716.5		148.8		(55.6)		826.1

Operating income (loss)		(16.4)		-		40.4		40.4		19.1		-		43.1
Other income (expense):
Interest income (expense), net		4.5		(19.8)		(1.9)		(21.7)		(1.1)		-		(18.3)
Foreign currency exchange loss		-		-		-		-		(0.1)		-		(0.1)
Equity in income (loss) of subsidiaries		32.5		(5.2)		15.2		15.2		-		(47.7)		-

Income (loss) from continuing operations before income taxes		20.6		(25.0)		53.7		33.9		17.9		(47.7)		24.7
Provision for income taxes		-		0.4		1.4		1.8		0.1		-		1.9

Income (loss) from continuing operations		20.6		(25.4)		52.3		32.1		17.8		(47.7)		22.8
Discontinued operations:
Loss from discontinued operations		-		-		(0.4)		(0.4)		(1.3)		-		(1.7)
Less: Benefit from income taxes of discontinued operations		-		-		(0.8)		(0.8)		-		-		(0.8)

Net income (loss) from discontinued operations		-		-		0.4		0.4		(1.3)		-		(0.9)

Consolidated net income (loss)		20.6		(25.4)		52.7		32.5		16.5		(47.7)		21.9
Less: net income attributable to noncontrolling interest		-		-		-		-		1.3		-		1.3

Net income (loss) attributable to Axiall	$	20.6	$	(25.4)	$	52.7	$	32.5	$	15.2	$	(47.7)	$	20.6



Comprehensive income (loss) attributable to Axiall	$	29.0	$	(15.7)	$	61.1	$	40.9	$	25.1	$	(66.0)	$	29.0

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Operations and

Comprehensive Income (Loss)

For the Six Months Ended June 30, 2016

(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	$	-	$	-	$	1,298.0	$	1,298.0	$	249.1	$	(71.8)	$	1,475.3
Operating costs and expenses:
Cost of sales		-		-		1,197.9		1,197.9		198.4		(71.8)		1,324.5
Selling, general and administrative expenses		27.3		-		87.2		87.2		25.4		-		139.9
Restructuring and divestiture costs		7.5		-		11.3		11.3		22.4		-		41.2
Integration-related costs and other, net		0.9		-		4.6		4.6		-		-		5.5
Legal and settlement claims, net		-		-		23.4		23.4		-		-		23.4
Fees associated with unsolicited offer and strategic alternatives		13.6		-		-		-		-		-		13.6

Total operating costs and expenses		49.3		-		1,324.4		1,324.4		246.2		(71.8)		1,548.1

Operating income (loss)		(49.3)		-		(26.4)		(26.4)		2.9		-		(72.8)
Other income (expense):
Interest income (expense), net		9.4		(39.6)		(2.9)		(42.5)		(1.9)		-		(35.0)
Foreign currency exchange loss		-		-		(0.1)		(0.1)		(0.9)		-		(1.0)
Equity in loss of subsidiaries		(61.8)		(32.4)		(5.3)		(5.3)		-		67.1		-

Income (loss) from continuing operations before income taxes		(101.7)		(72.0)		(34.7)		(74.3)		0.1		67.1		(108.8)
Benefit from income taxes		(20.3)		(20.1)		(10.0)		(30.1)		(0.8)		-		(51.2)

Income (loss) from continuing operations		(81.4)		(51.9)		(24.7)		(44.2)		0.9		67.1		(57.6)
Discontinued operations:
Loss from discontinued operations		-		-		(27.8)		(27.8)		(5.3)		-		(33.1)
Less: Benefit from income taxes of discontinued operations		-		-		(10.1)		(10.1)		-		-		(10.1)

Net loss from discontinued operations		-		-		(17.7)		(17.7)		(5.3)		-		(23.0)

Consolidated net loss		(81.4)		(51.9)		(42.4)		(61.9)		(4.4)		67.1		(80.6)
Less: net income attributable to noncontrolling interest		-		-		-		-		0.8		-		0.8

Net loss attributable to Axiall	$	(81.4)	$	(51.9)	$	(42.4)	$	(61.9)	$	(5.2)	$	67.1	$	(81.4)



Comprehensive income (loss) attributable to Axiall	$	(59.9)	$	(49.3)	$	(21.0)	$	(40.5)	$	21.6	$	18.9	$	(59.9)

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Operations and

Comprehensive Loss

For the Six Months Ended June 30, 2015

(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	$	-	$	-	$	1,469.7	$	1,469.7	$	287.9	$	(103.8)	$	1,653.8
Operating costs and expenses:
Cost of sales		-		-		1,296.5		1,296.5		233.7		(103.8)		1,426.4
Selling, general and administrative expenses		26.3		-		91.4		91.4		34.1		-		151.8
Restructuring and divestiture costs		1.1		-		(0.1)		(0.1)		0.1		-		1.1
Integration-related costs and other, net		5.4		-		3.3		3.3		0.6		-		9.3

Total operating costs and expenses		32.8		-		1,391.1		1,391.1		268.5		(103.8)		1,588.6

Operating income (loss)		(32.8)		-		78.6		78.6		19.4		-		65.2
Other income (expense):
Interest income (expense), net		10.5		(40.7)		(1.9)		(42.6)		(3.8)		-		(35.9)
Debt refinancing costs		-		(0.1)		(3.1)		(3.2)		-		-		(3.2)
Foreign currency exchange gain (loss)		(0.1)		0.1		(0.1)		(0.1)		(0.6)		-		(0.8)
Equity in income (loss) of subsidiaries		29.6		(12.1)		10.7		10.7		-		(40.3)		-

Income (loss) from continuing operations before income taxes		7.2		(52.8)		84.2		43.4		15.0		(40.3)		25.3
Provision for (benefit from) income taxes		(2.8)		(5.2)		11.9		6.7		1.0		-		4.9

Income (loss) from continuing operations		10.0		(47.6)		72.3		36.7		14.0		(40.3)		20.4
Discontinued operations:
Loss from discontinued operations		-		-		(2.9)		(2.9)		(6.0)		-		(8.9)
Less: Benefit from income taxes of discontinued operations		-		-		(1.6)		(1.6)		-		-		(1.6)

Net loss from discontinued operations		-		-		(1.3)		(1.3)		(6.0)		-		(7.3)

Consolidated net income (loss)		10.0		(47.6)		71.0		35.4		8.0		(40.3)		13.1
Less: net income attributable to noncontrolling interest		-		-		-		-		3.1		-		3.1

Net income (loss) attributable to Axiall	$	10.0	$	(47.6)	$	71.0	$	35.4	$	4.9	$	(40.3)	$	10.0




Comprehensive income (loss) attributable to Axiall	$	(9.4)	$	(22.6)	$	49.1	$	13.5	$	(31.9)	$	18.4	$	(9.4)

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Cash Flows

For the Six Months Ended June 30, 2016

(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)
Cash provided by (used in) operating activities - continuing operations	$	38.5	$	8.5	$	(19.7)	$	(19.7)	$	6.9	$	(37.1)	$	(11.4)
Cash provided by (used in) operating activities - discontinued operations		-		-		9.4		9.4		(4.2)		-		5.2

Net cash provided by (used in) operating activities		38.5		8.5		(10.3)		(10.3)		2.7		(37.1)		(6.2)

Cash flows from investing activities:
Capital expenditures		(0.1)		-		(115.0)		(115.0)		(4.5)		-		(119.6)
Proceeds from the sales of business assets		-		-		0.4		0.4		11.1		-		11.5

Cash used in investing activities - continuing operations		(0.1)		-		(114.6)		(114.6)		6.6		-		(108.1)
Cash provided by investing activities - discontinued operations		-		-		7.3		7.3		19.5		-		26.8

Net cash provided by (used in) investing activities		(0.1)		-		(107.3)		(107.3)		26.1		-		(81.3)

Cash flows from financing activities:
Long-term debt payments		-		-		(1.7)		(1.7)		-		-		(1.7)
Deferred acquisition payments		(15.0)		-		-		-		-		-		(15.0)
Dividends paid		(22.8)		-		-		-		-		-		(22.8)
Distribution to noncontrolling interest		-		-		-		-		(7.1)		-		(7.1)
Share-based compensation plan activity		(0.9)		-		-		-		-		-		(0.9)
Distribution to affiliate		-		(8.5)		(17.5)		(17.5)		(19.6)		37.1		-

Net cash used in financing activities		(38.7)		(8.5)		(19.2)		(19.2)		(26.7)		37.1		(47.5)
Effect of exchange rate changes on cash and cash equivalents		-		-		-		-		5.4		-		5.4

Net change in cash and cash equivalents		(0.3)		-		(136.8)		(136.8)		7.5		-		(129.6)
Cash and cash equivalents at beginning of period		0.3		-		161.7		161.7		96.0		-		258.0

Cash and cash equivalents at end of period	$	-	$	-	$	24.9	$	24.9	$	103.5	$	-	$	128.4

AXIALL CORPORATION

Guarantor Condensed Consolidating Statement of Cash Flows

For the Six Months Ended June 30, 2015

(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)
Cash provided by (used in) operating activities - continuing operations	$	40.0	$	10.1	$	30.5	$	30.5	$	(2.7)	$	(22.7)	$	45.1
Cash used in operating activities - discontinued operations		-		-		(1.7)		(1.7)		(7.2)		-		(8.9)

Net cash provided by (used in) operating activities		40.0		10.1		28.8		28.8		(9.9)		(22.7)		36.2

Cash flows from investing activities:
Capital expenditures		(0.4)		-		(69.3)		(69.3)		(4.2)		-		(73.9)
Proceeds from sales of business assets		-		-		5.6		5.6		0.7		-		6.3

Cash used in investing activities - continuing operations		(0.4)		-		(63.7)		(63.7)		(3.5)		-		(67.6)
Cash provided by (used in) investing activities - discontinued operations		-		-		(1.6)		(1.6)		0.7		-		(0.9)

Net cash used in investing activities		(0.4)		-		(65.3)		(65.3)		(2.8)		-		(68.5)

Cash flows from financing activities:
Issuance of long-term debt		-		-		248.8		248.8		-		-		248.8
Long-term debt payments		-		(194.4)		(1.7)		(196.1)		-		-		(196.1)
Intercompany financing		-		194.4		(194.4)		-		-		-		-
Fees paid related to financing activities		(0.3)		-		(3.2)		(3.2)		-		-		(3.5)
Deferred acquisition payments		(10.0)		-		-		-		-		-		(10.0)
Dividends paid		(23.1)		-		-		-		-		-		(23.1)
Distribution to noncontrolling interest		-		-		-		-		(8.4)		-		(8.4)
Share-based compensation plan activities		(6.2)		-		-		-		-		-		(6.2)
Distribution to affiliate		-		(10.1)		(10.1)		(10.1)		(12.6)		22.7		-

Net cash provided by (used in) financing activities		(39.6)		(10.1)		39.4		39.4		(21.0)		22.7		1.5
Effect of exchange rate changes on cash and cash equivalents		-		-		-		-		(4.6)		-		(4.6)

Net change in cash and cash equivalents		-		-		2.9		2.9		(38.3)		-		(35.4)
Cash and cash equivalents at beginning of period		-		-		78.2		78.2		88.6		-		166.8

Cash and cash equivalents at end of period	$	-	$	-	$	81.1	$	81.1	$	50.3	$	-	$	131.4