v2.4.0.6

Financial Guarantees and Condensed Consolidating Financial Statements (Tables) | 9 Months Ended
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Sep. 29, 2012
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of September 29, 2012 (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7,560 |  |  | $ | 23,523 |  |  | $ | 64,016 |  |  | $ | — |  |  | $ | 95,099 |
Accounts receivable, net | — |  |  | 22,783 |  |  | 108,548 |  |  | — |  |  | 131,331 |
Inventories, net | — |  |  | 26,602 |  |  | 72,207 |  |  | — |  |  | 98,809 |
Deferred income taxes | — |  |  | — |  |  | 3,866 |  |  | 439 |  |  | 4,305 |
Other current assets | 2,494 |  |  | 9,552 |  |  | 26,268 |  |  | — |  |  | 38,314 |
Total current assets | 10,054 |  |  | 82,460 |  |  | 274,905 |  |  | 439 |  |  | 367,858 |
Property, plant and equipment, net | 24,370 |  |  | 101,461 |  |  | 356,171 |  |  | — |  |  | 482,002 |
Goodwill | — |  |  | 20,718 |  |  | 59,671 |  |  | — |  |  | 80,389 |
Intangible assets, net | 24,878 |  |  | 43,127 |  |  | 9,400 |  |  | — |  |  | 77,405 |
Net investment in and advances to (from) subsidiaries | 694,230 |  |  | 783,727 |  |  | (195,397 | ) |  | (1,282,560 | ) |  | — |
Deferred income taxes | — |  |  | — |  |  | 1,944 |  |  | — |  |  | 1,944 |
Other noncurrent assets | 197 |  |  | 5,803 |  |  | 34,972 |  |  | — |  |  | 40,972 |
Total assets | $ | 753,729 |  |  | $ | 1,037,296 |  |  | $ | 541,666 |  |  | $ | (1,282,121 | ) |  | $ | 1,050,570 |
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term borrowings | $ | 71 |  |  | $ | — |  |  | $ | 3,000 |  |  | $ | — |  |  | $ | 3,071 |
Accounts payable and accrued liabilities | 16,953 |  |  | 38,130 |  |  | 133,252 |  |  | — |  |  | 188,335 |
Income taxes payable | — |  |  | — |  |  | 2,923 |  |  | — |  |  | 2,923 |
Deferred income taxes | 19 |  |  | 1,016 |  |  | 1,691 |  |  | (1,035 | ) |  | 1,691 |
Current portion of long-term debt | 107 |  |  | — |  |  | 9,418 |  |  | — |  |  | 9,525 |
Total current liabilities | 17,150 |  |  | 39,146 |  |  | 150,284 |  |  | (1,035 | ) |  | 205,545 |
Long-term debt | 560,066 |  |  | — |  |  | 33,659 |  |  | — |  |  | 593,725 |
Deferred income taxes | 571 |  |  | 7,623 |  |  | 25,127 |  |  | 1,474 |  |  | 34,795 |
Other noncurrent liabilities | — |  |  | 14,433 |  |  | 26,130 |  |  | — |  |  | 40,563 |
Total liabilities | 577,787 |  |  | 61,202 |  |  | 235,200 |  |  | 439 |  |  | 874,628 |
Common stock | — |  |  | — |  |  | 36,083 |  |  | (36,083 | ) |  | — |
Other shareholders’ equity | 175,942 |  |  | 976,094 |  |  | 270,383 |  |  | (1,246,477 | ) |  | 175,942 |
Total equity | 175,942 |  |  | 976,094 |  |  | 306,466 |  |  | (1,282,560 | ) |  | 175,942 |
Total liabilities and equity | $ | 753,729 |  |  | $ | 1,037,296 |  |  | $ | 541,666 |  |  | $ | (1,282,121 | ) |  | $ | 1,050,570 |
Condensed Consolidating Balance Sheet As of December 31, 2011 (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 3,135 |  |  | $ | 14,574 |  |  | $ | 55,033 |  |  | $ | — |  |  | $ | 72,742 |
Accounts receivable, net | — |  |  | 18,270 |  |  | 122,902 |  |  | — |  |  | 141,172 |
Inventories, net | — |  |  | 34,381 |  |  | 69,530 |  |  | — |  |  | 103,911 |
Deferred income taxes | 80 |  |  | — |  |  | 3,866 |  |  | 458 |  |  | 4,404 |
Other current assets | 1,173 |  |  | 8,783 |  |  | 26,088 |  |  | — |  |  | 36,044 |
Total current assets | 4,388 |  |  | 76,008 |  |  | 277,419 |  |  | 458 |  |  | 358,273 |
Property, plant and equipment, net | 9,267 |  |  | 111,469 |  |  | 372,616 |  |  | — |  |  | 493,352 |
Goodwill | — |  |  | 20,718 |  |  | 59,828 |  |  | — |  |  | 80,546 |
Intangible assets, net | 27,545 |  |  | 45,247 |  |  | 10,959 |  |  | — |  |  | 83,751 |
Net investment in and advances to (from) subsidiaries | 739,121 |  |  | 754,930 |  |  | (238,038 | ) |  | (1,256,013 | ) |  | — |
Deferred income taxes | — |  |  | — |  |  | 1,939 |  |  | — |  |  | 1,939 |
Other noncurrent assets | 409 |  |  | 5,424 |  |  | 36,884 |  |  | — |  |  | 42,717 |
Total assets | $ | 780,730 |  |  | $ | 1,013,796 |  |  | $ | 521,607 |  |  | $ | (1,255,555 | ) |  | $ | 1,060,578 |
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term borrowings | $ | — |  |  | $ | — |  |  | $ | 5,000 |  |  | $ | — |  |  | $ | 5,000 |
Accounts payable and accrued liabilities | 32,524 |  |  | 26,897 |  |  | 130,940 |  |  | 155 |  |  | 190,516 |
Income taxes payable | — |  |  | 37 |  |  | 986 |  |  | — |  |  | 1,023 |
Deferred income taxes | — |  |  | 1,016 |  |  | 1,691 |  |  | (1,016 | ) |  | 1,691 |
Current portion of long-term debt | 107 |  |  | — |  |  | 7,485 |  |  | — |  |  | 7,592 |
Total current liabilities | 32,631 |  |  | 27,950 |  |  | 146,102 |  |  | (861 | ) |  | 205,822 |
Long-term debt | 560,132 |  |  | — |  |  | 27,721 |  |  | — |  |  | 587,853 |
Deferred income taxes | 670 |  |  | 7,624 |  |  | 25,039 |  |  | 1,474 |  |  | 34,807 |
Other noncurrent liabilities | — |  |  | 17,230 |  |  | 27,569 |  |  | — |  |  | 44,799 |
Total liabilities | 593,433 |  |  | 52,804 |  |  | 226,431 |  |  | 613 |  |  | 873,281 |
Common stock | — |  |  | — |  |  | 36,083 |  |  | (36,083 | ) |  | — |
Other shareholders’ equity | 187,297 |  |  | 960,992 |  |  | 259,093 |  |  | (1,220,085 | ) |  | 187,297 |
Total equity | 187,297 |  |  | 960,992 |  |  | 295,176 |  |  | (1,256,168 | ) |  | 187,297 |
Total liabilities and equity | $ | 780,730 |  |  | $ | 1,013,796 |  |  | $ | 521,607 |  |  | $ | (1,255,555 | ) |  | $ | 1,060,578 |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations For the Three Months Ended September 29, 2012 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 92,443 |  |  | $ | 203,125 |  |  | $ | (5,471 | ) |  | $ | 290,097 |
Cost of goods sold | (12 | ) |  | 78,461 |  |  | 165,145 |  |  | (5,471 | ) |  | 238,123 |
Gross profit | 12 |  |  | 13,982 |  |  | 37,980 |  |  | — |  |  | 51,974 |
Selling, general and administrative expenses | 9,141 |  |  | 5,491 |  |  | 18,412 |  |  | — |  |  | 33,044 |
Special charges, net | 759 |  |  | (294 | ) |  | 1,267 |  |  | — |  |  | 1,732 |
Other operating loss (income), net | 7 |  |  | (19 | ) |  | (223 | ) |  | — |  |  | (235 | )
Operating (loss) income | (9,895 | ) |  | 8,804 |  |  | 18,524 |  |  | — |  |  | 17,433 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 12,485 |  |  | (4,690 | ) |  | 4,692 |  |  | — |  |  | 12,487 |
Intercompany royalty and technical service fees, net | (1,563 | ) |  | (1,853 | ) |  | 3,416 |  |  | — |  |  | — |
Foreign currency and other (gain) loss, net | (18,932 | ) |  | 19,092 |  |  | 839 |  |  | — |  |  | 999 |
Equity in earnings of subsidiaries | 686 |  |  | 7,754 |  |  | — |  |  | (8,440 | ) |  | — |
(Loss) income before income tax (benefit) expense | (1,199 | ) |  | 4,009 |  |  | 9,577 |  |  | (8,440 | ) |  | 3,947 |
Income tax (benefit) expense | (2,553 | ) |  | 3,260 |  |  | 1,886 |  |  | — |  |  | 2,593 |
Net income (loss) | $ | 1,354 |  |  | $ | 749 |  |  | $ | 7,691 |  |  | $ | (8,440 | ) |  | $ | 1,354 |
Condensed Consolidating Statement of Operations For the Three Months Ended October 1, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 99,756 |  |  | $ | 219,043 |  |  | $ | (3,301 | ) |  | $ | 315,498 |
Cost of goods sold | (26 | ) |  | 86,025 |  |  | 183,811 |  |  | (3,301 | ) |  | 266,509 |
Gross profit | 26 |  |  | 13,731 |  |  | 35,232 |  |  | — |  |  | 48,989 |
Selling, general and administrative expenses | 9,677 |  |  | 6,020 |  |  | 18,819 |  |  | — |  |  | 34,516 |
Special charges, net | 981 |  |  | 250 |  |  | 168 |  |  | — |  |  | 1,399 |
Other operating loss (income), net | 23 |  |  | (29 | ) |  | 1,697 |  |  | — |  |  | 1,691 |
Operating (loss) income | (10,655 | ) |  | 7,490 |  |  | 14,548 |  |  | — |  |  | 11,383 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 11,045 |  |  | (3,388 | ) |  | 5,209 |  |  | — |  |  | 12,866 |
Intercompany royalty and technical service fees, net | (2,655 | ) |  | (1,331 | ) |  | 3,986 |  |  | — |  |  | — |
Foreign currency and other loss (gain), net | 1,836 |  |  | 73 |  |  | 977 |  |  | — |  |  | 2,886 |
Equity in earnings of subsidiaries | 6,971 |  |  | (1,605 | ) |  | — |  |  | (5,366 | ) |  | — |
(Loss) income before income tax expense and discontinued operations | (13,910 | ) |  | 10,531 |  |  | 4,376 |  |  | (5,366 | ) |  | (4,369 | )
Income tax (benefit) expense | (4,722 | ) |  | 3,520 |  |  | 2,138 |  |  | — |  |  | 936 |
(Loss) income before discontinued operations | (9,188 | ) |  | 7,011 |  |  | 2,238 |  |  | (5,366 | ) |  | (5,305 | )
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (3,363 | ) |  | — |  |  | (3,363 | )
Loss on sale of discontinued operations | — |  |  | — |  |  | (520 | ) |  | — |  |  | (520 | )
Net (loss) income | $ | (9,188 | ) |  | $ | 7,011 |  |  | $ | (1,645 | ) |  | $ | (5,366 | ) |  | $ | (9,188 | )
Condensed Consolidating Statement of Operations For the Nine Months Ended September 29, 2012 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 286,210 |  |  | $ | 610,967 |  |  | $ | (15,665 | ) |  | $ | 881,512 |
Cost of goods sold | (42 | ) |  | 246,998 |  |  | 498,641 |  |  | (15,665 | ) |  | 729,932 |
Gross profit | 42 |  |  | 39,212 |  |  | 112,326 |  |  | — |  |  | 151,580 |
Selling, general and administrative expenses | 27,420 |  |  | 18,051 |  |  | 56,883 |  |  | — |  |  | 102,354 |
Special charges, net | 6,082 |  |  | 2,004 |  |  | 4,818 |  |  | — |  |  | 12,904 |
Other operating (income) loss, net | (3 | ) |  | (240 | ) |  | (511 | ) |  | — |  |  | (754 | )
Operating (loss) income | (33,457 | ) |  | 19,397 |  |  | 51,136 |  |  | — |  |  | 37,076 |
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense (income), net | 41,624 |  |  | (17,968 | ) |  | 14,418 |  |  | — |  |  | 38,074 |
Intercompany royalty and technical service fees, net | (4,492 | ) |  | (5,295 | ) |  | 9,787 |  |  | — |  |  | — |
Foreign currency and other (gain) loss, net | (18,934 | ) |  | 18,854 |  |  | 4,175 |  |  | — |  |  | 4,095 |
Equity in earnings of subsidiaries | 32,229 |  |  | 16,078 |  |  | — |  |  | (48,307 | ) |  | — |
(Loss) income before income tax (benefit) expense | (19,426 | ) |  | 39,884 |  |  | 22,756 |  |  | (48,307 | ) |  | (5,093 | )
Income tax (benefit) expense | (8,421 | ) |  | 7,465 |  |  | 6,868 |  |  | — |  |  | 5,912 |
Net (loss) income | $ | (11,005 | ) |  | $ | 32,419 |  |  | $ | 15,888 |  |  | $ | (48,307 | ) |  | $ | (11,005 | )
Condensed Consolidating Statement of Operations For the Eight Months Ended October 1, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 253,997 |  |  | $ | 566,907 |  |  | $ | (9,912 | ) |  | $ | 810,992 |
Cost of goods sold | 20 |  |  | 221,734 |  |  | 476,841 |  |  | (9,912 | ) |  | 688,683 |
Gross profit | (20 | ) |  | 32,263 |  |  | 90,066 |  |  | — |  |  | 122,309 |
Selling, general and administrative expenses | 25,571 |  |  | 17,954 |  |  | 54,813 |  |  | — |  |  | 98,338 |
Special charges, net | 27,275 |  |  | 846 |  |  | 1,346 |  |  | — |  |  | 29,467 |
Other operating loss (income), net | 695 |  |  | (174 | ) |  | 2,371 |  |  | — |  |  | 2,892 |
Operating (loss) income | (53,561 | ) |  | 13,637 |  |  | 31,536 |  |  | — |  |  | (8,388 | )
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 50,963 |  |  | (29,695 | ) |  | 12,245 |  |  | — |  |  | 33,513 |
Intercompany royalty and technical service fees, net | (4,841 | ) |  | (5,811 | ) |  | 10,652 |  |  | — |  |  | — |
Foreign currency and other loss, net | 1,132 |  |  | 480 |  |  | 2,637 |  |  | — |  |  | 4,249 |
Equity in earnings of subsidiaries | 37,850 |  |  | (4,577 | ) |  | — |  |  | (33,273 | ) |  | — |
(Loss) income before income tax expense and discontinued operations | (62,965 | ) |  | 44,086 |  |  | 6,002 |  |  | (33,273 | ) |  | (46,150 | )
Income tax (benefit) expense | (8,215 | ) |  | 6,151 |  |  | 3,678 |  |  | — |  |  | 1,614 |
(Loss) income before discontinued operations | (54,750 | ) |  | 37,935 |  |  | 2,324 |  |  | (33,273 | ) |  | (47,764 | )
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (6,192 | ) |  | — |  |  | (6,192 | )
Loss on sale of discontinued operations | — |  |  | — |  |  | (735 | ) |  | — |  |  | (735 | )
Net (loss) income | (54,750 | ) |  | 37,935 |  |  | (4,603 | ) |  | (33,273 | ) |  | (54,691 | )
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (59 | ) |  | — |  |  | (59 | )
Net (loss) income attributable to Polymer Group, Inc. | $ | (54,750 | ) |  | $ | 37,935 |  |  | $ | (4,662 | ) |  | $ | (33,273 | ) |  | $ | (54,750 | )
Condensed Consolidating Statement of Operations For the One Month Ended January 28, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 27,052 |  |  | $ | 58,887 |  |  | $ | (1,333 | ) |  | $ | 84,606 |
Cost of goods sold | (24 | ) |  | 22,587 |  |  | 47,301 |  |  | (1,333 | ) |  | 68,531 |
Gross profit | 24 |  |  | 4,465 |  |  | 11,586 |  |  | — |  |  | 16,075 |
Selling, general and administrative expenses | 3,620 |  |  | 1,873 |  |  | 6,071 |  |  | — |  |  | 11,564 |
Special charges, net | 18,944 |  |  | 170 |  |  | 1,710 |  |  | — |  |  | 20,824 |
Other operating (income) loss, net | (1 | ) |  | (42 | ) |  | (521 | ) |  | — |  |  | (564 | )
Operating (loss) income | (22,539 | ) |  | 2,464 |  |  | 4,326 |  |  | — |  |  | (15,749 | )
Other expense (income): |  |  |  |  |  |  |  |  |
Interest expense, net | 1,859 |  |  | (1,176 | ) |  | 1,239 |  |  | — |  |  | 1,922 |
Intercompany royalty and technical service fees, net | (546 | ) |  | (683 | ) |  | 1,229 |  |  | — |  |  | — |
Foreign currency and other loss (gain), net | 28 |  |  | 85 |  |  | (31 | ) |  | — |  |  | 82 |
Equity in earnings of subsidiaries | 5,198 |  |  | 1,672 |  |  | — |  |  | (6,870 | ) |  | — |
(Loss) income before income tax expense and discontinued operations | (18,682 | ) |  | 5,910 |  |  | 1,889 |  |  | (6,870 | ) |  | (17,753 | )
Income tax (benefit) expense | (479 | ) |  | 706 |  |  | 322 |  |  | — |  |  | 549 |
(Loss) income before discontinued operations | (18,203 | ) |  | 5,204 |  |  | 1,567 |  |  | (6,870 | ) |  | (18,302 | )
Income from discontinued operations, net of tax | — |  |  | — |  |  | 182 |  |  | — |  |  | 182 |
Net (loss) income | (18,203 | ) |  | 5,204 |  |  | 1,749 |  |  | (6,870 | ) |  | (18,120 | )
Net income attributable to noncontrolling interests | — |  |  | — |  |  | (83 | ) |  | — |  |  | (83 | )
Net (loss) income attributable to Polymer Group, Inc. | $ | (18,203 | ) |  | $ | 5,204 |  |  | $ | 1,666 |  |  | $ | (6,870 | ) |  | $ | (18,203 | )
Schedule of Comprehensive Income (Loss) | Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended September 29, 2012 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net income (loss) | $ | 1,354 |  |  | $ | 749 |  |  | $ | 7,691 |  |  | $ | (8,440 | ) |  | $ | 1,354 |
Other comprehensive income (loss), net of tax |  |  |  |  |  |  |  |  |
Unrealized currency translation adjustments | 3,976 |  |  | 4,225 |  |  | 1,361 |  |  | (5,586 | ) |  | 3,976 |
Employee postretirement benefits | 206 |  |  | 206 |  |  | 206 |  |  | (412 | ) |  | 206 |
Cash flow hedge adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive income (loss), net of tax | 4,182 |  |  | 4,431 |  |  | 1,567 |  |  | (5,998 | ) |  | 4,182 |
Comprehensive income (loss) | 5,536 |  |  | 5,180 |  |  | 9,258 |  |  | (14,438 | ) |  | 5,536 |
Comprehensive income attributable to non controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income (loss) attributable to Polymer Group, Inc. | $ | 5,536 |  |  | $ | 5,180 |  |  | $ | 9,258 |  |  | $ | (14,438 | ) |  | $ | 5,536 |
Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended October 1, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net (loss) income | $ | (9,188 | ) |  | $ | 7,011 |  |  | $ | (1,645 | ) |  | $ | (5,366 | ) |  | $ | (9,188 | )
Other comprehensive (loss) income, net of tax |  |  |  |  |  |  |  |  |
Unrealized currency translation adjustments | (10,054 | ) |  | (9,583 | ) |  | (1,927 | ) |  | 11,510 |  |  | (10,054 | )
Employee postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive (loss) income, net of tax | (10,054 | ) |  | (9,583 | ) |  | (1,927 | ) |  | 11,510 |  |  | (10,054 | )
Comprehensive (loss) income | (19,242 | ) |  | (2,572 | ) |  | (3,572 | ) |  | 6,144 |  |  | (19,242 | )
Comprehensive income attributable to non controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive (loss) income attributable to Polymer Group, Inc. | $ | (19,242 | ) |  | $ | (2,572 | ) |  | $ | (3,572 | ) |  | $ | 6,144 |  |  | $ | (19,242 | )
Condensed Consolidating Statement of Comprehensive Income For the Nine Months Ended September 29, 2012 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net (loss) income | $ | (11,005 | ) |  | $ | 32,419 |  |  | $ | 15,888 |  |  | $ | (48,307 | ) |  | $ | (11,005 | )
Other comprehensive (loss) income, net of tax |  |  |  |  |  |  |  |  |
Unrealized currency translation adjustments | (1,292 | ) |  | 185 |  |  | 18 |  |  | (203 | ) |  | (1,292 | )
Employee postretirement benefits | (42 | ) |  | (42 | ) |  | (42 | ) |  | 84 |  |  | (42 | )
Cash flow hedge adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive (loss) income, net of tax | (1,334 | ) |  | 143 |  |  | (24 | ) |  | (119 | ) |  | (1,334 | )
Comprehensive (loss) income | (12,339 | ) |  | 32,562 |  |  | 15,864 |  |  | (48,426 | ) |  | (12,339 | )
Comprehensive income attributable to non controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive (loss) income attributable to Polymer Group, Inc. | $ | (12,339 | ) |  | $ | 32,562 |  |  | $ | 15,864 |  |  | $ | (48,426 | ) |  | $ | (12,339 | )
Condensed Consolidating Statement of Comprehensive Income For the Eight Months Ended October 1, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net (loss) income | $ | (54,750 | ) |  | $ | 37,935 |  |  | $ | (4,603 | ) |  | $ | (33,273 | ) |  | $ | (54,691 | )
Other comprehensive income (loss), net of tax |  |  |  |  |  |  |  |  |
Unrealized currency translation adjustments | 1,848 |  |  | 34,084 |  |  | 7,381 |  |  | (41,465 | ) |  | 1,848 |
Employee postretirement benefits | — |  |  | (2,527 | ) |  | 429 |  |  | 2,098 |  |  | — |
Cash flow hedge adjustments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total other comprehensive income (loss), net of tax | 1,848 |  |  | 31,557 |  |  | 7,810 |  |  | (39,367 | ) |  | 1,848 |
Comprehensive (loss) income | (52,902 | ) |  | 69,492 |  |  | 3,207 |  |  | (72,640 | ) |  | (52,843 | )
Comprehensive income attributable to non controlling interest | — |  |  | — |  |  | (121 | ) |  | — |  |  | (121 | )
Comprehensive (loss) income attributable to Polymer Group, Inc. | $ | (52,902 | ) |  | $ | 69,492 |  |  | $ | 3,086 |  |  | $ | (72,640 | ) |  | $ | (52,964 | )
Condensed Consolidating Statement of Comprehensive Income For the One Month Ended January 28, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net (loss) income | $ | (18,203 | ) |  | $ | 5,204 |  |  | $ | 1,749 |  |  | $ | (6,870 | ) |  | $ | (18,120 | )
Other comprehensive (loss) income, net of tax |  |  |  |  |  |  |  |  |
Unrealized currency translation adjustments | 2,845 |  |  | 2,810 |  |  | 358 |  |  | (3,168 | ) |  | 2,845 |
Employee postretirement benefits | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash flow hedge adjustments | 183 |  |  | — |  |  | — |  |  | — |  |  | 183 |
Total other comprehensive (loss) income, net of tax | 3,028 |  |  | 2,810 |  |  | 358 |  |  | (3,168 | ) |  | 3,028 |
Comprehensive (loss) income | (15,175 | ) |  | 8,014 |  |  | 2,107 |  |  | (10,038 | ) |  | (15,092 | )
Comprehensive income attributable to non controlling interest | — |  |  | — |  |  | (83 | ) |  | — |  |  | (83 | )
Comprehensive (loss) income attributable to Polymer Group, Inc. | $ | (15,175 | ) |  | $ | 8,014 |  |  | $ | 2,024 |  |  | $ | (10,038 | ) |  | $ | (15,175 | )
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 29, 2012 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | $ | (73,342 | ) |  | $ | 70,705 |  |  | $ | 58,267 |  |  | $ | — |  |  | $ | 55,630 |
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (20,399 | ) |  | (2,483 | ) |  | (17,264 | ) |  | — |  |  | (40,146 | )
Proceeds from the sale of assets | — |  |  | 1,646 |  |  | 11 |  |  | — |  |  | 1,657 |
Acquisition of intangibles and other | (175 | ) |  | — |  |  | — |  |  | — |  |  | (175 | )
Intercompany investing activities, net | 57,118 |  |  | (37,389 | ) |  | (25,118 | ) |  | 5,389 |  |  | — |
Net cash provided by (used in) investing activities | 36,544 |  |  | (38,226 | ) |  | (42,371 | ) |  | 5,389 |  |  | (38,664 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from long-term debt | — |  |  | — |  |  | 10,977 |  |  | — |  |  | 10,977 |
Proceeds from short-term borrowings | 1,943 |  |  | — |  |  | 3,000 |  |  | — |  |  | 4,943 |
Repayment of long-term debt | (79 | ) |  | — |  |  | (3,170 | ) |  | — |  |  | (3,249 | )
Repayment of short-term borrowings | (1,894 | ) |  | — |  |  | (5,000 | ) |  | — |  |  | (6,894 | )
Intercompany financing activities, net | 41,253 |  |  | (23,530 | ) |  | (12,334 | ) |  | (5,389 | ) |  | — |
Net cash (used in) provided by financing activities | 41,223 |  |  | (23,530 | ) |  | (6,527 | ) |  | (5,389 | ) |  | 5,777 |
Effect of exchange rate changes on cash | — |  |  | — |  |  | (386 | ) |  | — |  |  | (386 | )
Net increase in cash and cash equivalents | 4,425 |  |  | 8,949 |  |  | 8,983 |  |  | — |  |  | 22,357 |
Cash and cash equivalents at beginning of period | 3,135 |  |  | 14,574 |  |  | 55,033 |  |  | — |  |  | 72,742 |
Cash and cash equivalents at end of period | $ | 7,560 |  |  | $ | 23,523 |  |  | $ | 64,016 |  |  | $ | — |  |  | $ | 95,099 |
Condensed Consolidating Statement of Cash Flows For the Eight Months Ended October 1, 2011 Successor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | $ | (35,808 | ) |  | $ | 16,186 |  |  | $ | 19,658 |  |  | $ | — |  |  | $ | 36 |
Investing activities: |  |  |  |  |  |  |  |  |
Acquisition of Polymer Group, Inc. | (403,496 | ) |  | — |  |  | — |  |  | — |  |  | (403,496 | )
Purchases of property, plant and equipment | (18,957 | ) |  | (9,902 | ) |  | (24,897 | ) |  | — |  |  | (53,756 | )
Proceeds from the sale of assets | — |  |  | 85 |  |  | 10,925 |  |  | — |  |  | 11,010 |
Acquisition of noncontrolling interest | — |  |  | — |  |  | (7,246 | ) |  | — |  |  | (7,246 | )
Acquisition of intangibles and other | (152 | ) |  | — |  |  | (16 | ) |  | — |  |  | (168 | )
Intercompany investing activities, net | (2,581 | ) |  | 18,007 |  |  | (19,572 | ) |  | 4,146 |  |  | — |
Net cash (used in) provided by investing activities | (425,186 | ) |  | 8,190 |  |  | (40,806 | ) |  | 4,146 |  |  | (453,656 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes | 560,000 |  |  | — |  |  | — |  |  | — |  |  | 560,000 |
Issuance of Common Stock | 259,865 |  |  | — |  |  | — |  |  | — |  |  | 259,865 |
Proceeds from long-term debt | — |  |  | — |  |  | 10,281 |  |  | — |  |  | 10,281 |
Proceeds from short-term borrowings | — |  |  | — |  |  | 5,245 |  |  | — |  |  | 5,245 |
Repayment of term loan | (286,470 | ) |  | — |  |  | — |  |  | — |  |  | (286,470 | )
Repayment of long-term debt | (31,500 | ) |  | — |  |  | (18,633 | ) |  | — |  |  | (50,133 | )
Repayment of short-term borrowings | (561 | ) |  | — |  |  | (34,313 | ) |  | — |  |  | (34,874 | )
Loan acquisition costs | (19,252 | ) |  | — |  |  | — |  |  | — |  |  | (19,252 | )
Intercompany financing activities, net | (17,856 | ) |  | (16,385 | ) |  | 38,387 |  |  | (4,146 | ) |  | — |
Net cash provided by (used in) financing activities | 464,226 |  |  | (16,385 | ) |  | 967 |  |  | (4,146 | ) |  | 444,662 |
Effect of exchange rate changes on cash | — |  |  | — |  |  | 558 |  |  | — |  |  | 558 |
Net increase (decrease) in cash and cash equivalents | 3,232 |  |  | 7,991 |  |  | (19,623 | ) |  | — |  |  | (8,400 | )
Cash and cash equivalents at beginning of period | 42 |  |  | 3,210 |  |  | 67,519 |  |  | — |  |  | 70,771 |
Cash and cash equivalents at end of period | $ | 3,274 |  |  | $ | 11,201 |  |  | $ | 47,896 |  |  | $ | — |  |  | $ | 62,371 |
Condensed Consolidating Statement of Cash Flows For the One Month Ended January 28, 2011 Predecessor (In Thousands)
| PGI (Issuer) |  | Guarantors |  | Non-Guarantors |  | Eliminations |  | Consolidated
Net cash (used in) provided by operating activities | $ | (40,725 | ) |  | $ | 6,886 |  |  | $ | 8,569 |  |  | $ | — |  |  | $ | (25,270 | )
Investing activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (28 | ) |  | (5,652 | ) |  | (2,725 | ) |  | — |  |  | (8,405 | )
Proceeds from the sale of assets | — |  |  | 65 |  |  | 40 |  |  | — |  |  | 105 |
Acquisition of intangibles and other | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Intercompany investing activities, net | 2,805 |  |  | (5,250 | ) |  | (4,000 | ) |  | 6,445 |  |  | — |
Net cash provided by (used in) investing activities | 2,772 |  |  | (10,837 | ) |  | (6,685 | ) |  | 6,445 |  |  | (8,305 | )
Financing activities: |  |  |  |  |  |  |  |  |
Proceeds from long-term debt | 31,500 |  |  | — |  |  | — |  |  | — |  |  | 31,500 |
Proceeds from short-term borrowings | 631 |  |  | — |  |  | — |  |  | — |  |  | 631 |
Repayment of long-term debt | — |  |  | — |  |  | (24 | ) |  | — |  |  | (24 | )
Repayment of short-term borrowings | — |  |  | — |  |  | (665 | ) |  | — |  |  | (665 | )
Intercompany financing activities, net | 5,250 |  |  | 2,872 |  |  | (1,677 | ) |  | (6,445 | ) |  | — |
Net cash provided by (used in) financing activities | 37,381 |  |  | 2,872 |  |  | (2,366 | ) |  | (6,445 | ) |  | 31,442 |
Effect of exchange rate changes on cash | — |  |  | — |  |  | 549 |  |  | — |  |  | 549 |
Net increase (decrease) in cash and cash equivalents | (572 | ) |  | (1,079 | ) |  | 67 |  |  | — |  |  | (1,584 | )
Cash and cash equivalents at beginning of period | 614 |  |  | 4,289 |  |  | 67,452 |  |  | — |  |  | 72,355 |
Cash and cash equivalents at end of period | $ | 42 |  |  | $ | 3,210 |  |  | $ | 67,519 |  |  | $ | — |  |  | $ | 70,771 |

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- Definition Tabular disclosure of components of comprehensive income (loss) including, but not limited to: (a) foreign currency translation adjustments; (b) gains (losses) on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (c) gains (losses) on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (d) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (e) unrealized holding gains (losses) on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (f) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (g) the net gain (loss) and net prior service cost or credit for pension plans and other postretirement benefit plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e526-108580 + Details
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