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Financial Guarantees and Condensed Consolidating Financial Statements (Tables)
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3 Months Ended |
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Mar. 30, 2013
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| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
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| Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet As of March 30, 2013 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | ASSETS | | | | | | | | | | Current Assets: | | | | | | | | | | Cash and cash equivalents | $ | 4,060 |
| | $ | 15,234 |
| | $ | 55,333 |
| | $ | — |
| | $ | 74,627 |
| Accounts receivable, net | — |
| | 24,913 |
| | 114,935 |
| | — |
| | 139,848 |
| Inventories, net | (52 | ) | | 21,025 |
| | 75,919 |
| | — |
| | 96,892 |
| Deferred income taxes | — |
| | 613 |
| | 3,806 |
| | (613 | ) | | 3,806 |
| Other current assets | 3,908 |
| | 10,017 |
| | 26,153 |
| | — |
| | 40,078 |
| Total current assets | 7,916 |
| | 71,802 |
| | 276,146 |
| | (613 | ) | | 355,251 |
| Property, plant and equipment, net | 38,212 |
| | 96,687 |
| | 343,059 |
| | — |
| | 477,958 |
| Goodwill | — |
| | 20,718 |
| | 59,994 |
| | — |
| | 80,712 |
| Intangible assets, net | 23,483 |
| | 41,715 |
| | 8,439 |
| | — |
| | 73,637 |
| Net investment in and advances to (from) subsidiaries | 644,908 |
| | 756,142 |
| | (169,899 | ) | | (1,231,151 | ) | | — |
| Deferred income taxes | — |
| | — |
| | 1,222 |
| | — |
| | 1,222 |
| Other noncurrent assets | 306 |
| | 5,645 |
| | 18,904 |
| | — |
| | 24,855 |
| Total assets | $ | 714,825 |
| | $ | 992,709 |
| | $ | 537,865 |
| | $ | (1,231,764 | ) | | $ | 1,013,635 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | | Current liabilities: | | | | | | | | | | Short-term borrowings | $ | 1,411 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 1,411 |
| Accounts payable and accrued liabilities | 17,985 |
| | 38,875 |
| | 136,316 |
| | — |
| | 193,176 |
| Income taxes payable | — |
| | — |
| | 3,716 |
| | — |
| | 3,716 |
| Deferred income taxes | 331 |
| | — |
| | 14 |
| | 134 |
| | 479 |
| Current portion of long-term debt | 107 |
| | — |
| | 21,356 |
| | — |
| | 21,463 |
| Total current liabilities | 19,834 |
| | 38,875 |
| | 161,402 |
| | 134 |
| | 220,245 |
| Long-term debt | 560,019 |
| | — |
| | 23,180 |
| | — |
| | 583,199 |
| Deferred income taxes | 273 |
| | 9,149 |
| | 24,370 |
| | (747 | ) | | 33,045 |
| Other noncurrent liabilities | 5,164 |
| | 14,935 |
| | 27,512 |
| | — |
| | 47,611 |
| Total liabilities | 585,290 |
| | 62,959 |
| | 236,464 |
| | (613 | ) | | 884,100 |
| Common stock | — |
| | — |
| | 36,083 |
| | (36,083 | ) | | — |
| Other shareholders’ equity | 129,535 |
| | 929,750 |
| | 265,318 |
| | (1,195,068 | ) | | 129,535 |
| Total shareholders' equity | 129,535 |
| | 929,750 |
| | 301,401 |
| | (1,231,151 | ) | | 129,535 |
| Total liabilities and shareholders' equity | $ | 714,825 |
| | $ | 992,709 |
| | $ | 537,865 |
| | $ | (1,231,764 | ) | | $ | 1,013,635 |
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Condensed Consolidating Balance Sheet As of December 29, 2012 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | ASSETS | | | | | | | | | | Current Assets: | | | | | | | | | | Cash and cash equivalents | $ | 486 |
| | $ | 28,285 |
| | $ | 69,108 |
| | $ | — |
| | $ | 97,879 |
| Accounts receivable, net | — |
| | 22,350 |
| | 109,219 |
| | — |
| | 131,569 |
| Inventories, net | — |
| | 23,843 |
| | 71,121 |
| | — |
| | 94,964 |
| Deferred income taxes | — |
| | 613 |
| | 3,832 |
| | (613 | ) | | 3,832 |
| Other current assets | 1,821 |
| | 7,710 |
| | 23,883 |
| | — |
| | 33,414 |
| Total current assets | 2,307 |
| | 82,801 |
| | 277,163 |
| | (613 | ) | | 361,658 |
| Property, plant and equipment, net | 27,711 |
| | 99,660 |
| | 351,798 |
| | — |
| | 479,169 |
| Goodwill | — |
| | 20,718 |
| | 59,890 |
| | — |
| | 80,608 |
| Intangible assets, net | 24,313 |
| | 42,422 |
| | 8,928 |
| | — |
| | 75,663 |
| Net investment in and advances to (from) subsidiaries | 679,818 |
| | 723,861 |
| | (188,670 | ) | | (1,215,009 | ) | | — |
| Deferred income taxes | — |
| | — |
| | 945 |
| | — |
| | 945 |
| Other noncurrent assets | 275 |
| | 5,787 |
| | 17,964 |
| | — |
| | 24,026 |
| Total assets | $ | 734,424 |
| | $ | 975,249 |
| | $ | 528,018 |
| | $ | (1,215,622 | ) | | $ | 1,022,069 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | | | | | | | | | | Current liabilities: | | | | | | | | | | Short-term borrowings | $ | 813 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 813 |
| Accounts payable and accrued liabilities | 28,511 |
| | 33,344 |
| | 135,050 |
| | — |
| | 196,905 |
| Income taxes payable | — |
| | 89 |
| | 3,752 |
| | — |
| | 3,841 |
| Deferred income taxes | 331 |
| | — |
| | 14 |
| | 134 |
| | 479 |
| Current portion of long-term debt | 107 |
| | — |
| | 19,370 |
| | — |
| | 19,477 |
| Total current liabilities | 29,762 |
| | 33,433 |
| | 158,186 |
| | 134 |
| | 221,515 |
| Long-term debt | 560,043 |
| | — |
| | 19,356 |
| | — |
| | 579,399 |
| Deferred income taxes | 273 |
| | 9,149 |
| | 24,506 |
| | (747 | ) | | 33,181 |
| Other noncurrent liabilities | 5,144 |
| | 15,540 |
| | 28,088 |
| | — |
| | 48,772 |
| Total liabilities | 595,222 |
| | 58,122 |
| | 230,136 |
| | (613 | ) | | 882,867 |
| Common stock | — |
| | — |
| | 36,083 |
| | (36,083 | ) | | — |
| Other shareholders’ equity | 139,202 |
| | 917,127 |
| | 261,799 |
| | (1,178,926 | ) | | 139,202 |
| Total shareholders' equity | 139,202 |
| | 917,127 |
| | 297,882 |
| | (1,215,009 | ) | | 139,202 |
| Total liabilities and shareholders' equity | $ | 734,424 |
| | $ | 975,249 |
| | $ | 528,018 |
| | $ | (1,215,622 | ) | | $ | 1,022,069 |
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| Condensed Consolidating Statement of Operations |
Condensed Consolidating Statement of Operations For the Three Months Ended March 30, 2013 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | Net sales | $ | — |
| | $ | 93,012 |
| | $ | 199,529 |
| | $ | (5,459 | ) | | $ | 287,082 |
| Cost of goods sold | (25 | ) | | (81,846 | ) | | (164,804 | ) | | 5,459 |
| | (241,216 | ) | Gross profit | (25 | ) | | 11,166 |
| | 34,725 |
| | — |
| | 45,866 |
| Selling, general and administrative expenses | (9,644 | ) | | (5,760 | ) | | (18,938 | ) | | — |
| | (34,342 | ) | Special charges, net | (1,354 | ) | | (37 | ) | | (413 | ) | | — |
| | (1,804 | ) | Other operating, net | 2 |
| | (76 | ) | | (266 | ) | | — |
| | (340 | ) | Operating income (loss) | (11,021 | ) | | 5,293 |
| | 15,108 |
| | — |
| | 9,380 |
| Other income (expense): | | | | | | | | | | Interest expense | (10,228 | ) | | 3,101 |
| | (4,957 | ) | | — |
| | (12,084 | ) | Intercompany royalty and technical service fees | 1,327 |
| | 1,607 |
| | (2,934 | ) | | — |
| | — |
| Foreign currency and other, net | (2 | ) | | (97 | ) | | (1,321 | ) | | — |
| | (1,420 | ) | Equity in earnings of subsidiaries | 11,524 |
| | 3,817 |
| | — |
| | (15,341 | ) | | — |
| Income (loss) before income taxes | (8,400 | ) | | 13,721 |
| | 5,896 |
| | (15,341 | ) | | (4,124 | ) | Income tax (provision) benefit | 2,173 |
| | (2,145 | ) | | (2,131 | ) | | — |
| | (2,103 | ) | Net income (loss) | $ | (6,227 | ) | | $ | 11,576 |
| | $ | 3,765 |
| | $ | (15,341 | ) | | $ | (6,227 | ) | Comprehensive income (loss) | $ | (9,903 | ) | | $ | 16,102 |
| | $ | 5,384 |
| | $ | (21,486 | ) | | $ | (9,903 | ) |
Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2012 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | Net sales | $ | — |
| | $ | 95,414 |
| | $ | 204,541 |
| | $ | (4,784 | ) | | $ | 295,171 |
| Cost of goods sold | 17 |
| | (82,447 | ) | | (164,338 | ) | | 4,784 |
| | (241,984 | ) | Gross profit | 17 |
| | 12,967 |
| | 40,203 |
| | — |
| | 53,187 |
| Selling, general and administrative expenses | (9,291 | ) | | (5,917 | ) | | (18,923 | ) | | — |
| | (34,131 | ) | Special charges, net | (1,478 | ) | | (216 | ) | | (725 | ) | | — |
| | (2,419 | ) | Other operating, net | — |
| | 103 |
| | 258 |
| | — |
| | 361 |
| Operating income (loss) | (10,752 | ) | | 6,937 |
| | 20,813 |
| | — |
| | 16,998 |
| Other income (expense): | | | | | | | | | | Interest expense | (11,275 | ) | | 3,315 |
| | (4,888 | ) | | — |
| | (12,848 | ) | Intercompany royalty and technical service fees | 1,490 |
| | 1,811 |
| | (3,301 | ) | | — |
| | — |
| Foreign currency and other, net | (30 | ) | | (163 | ) | | 255 |
| | — |
| | 62 |
| Equity in earnings of subsidiaries | 18,165 |
| | 9,151 |
| | — |
| | (27,316 | ) | | — |
| Income (loss) before income taxes | (2,402 | ) | | 21,051 |
| | 12,879 |
| | (27,316 | ) | | 4,212 |
| Income tax (provision) benefit | 2,137 |
| | (2,832 | ) | | (3,782 | ) | | — |
| | (4,477 | ) | Net income (loss) | $ | (265 | ) | | $ | 18,219 |
| | $ | 9,097 |
| | $ | (27,316 | ) | | $ | (265 | ) | Comprehensive income (loss) | $ | 4,558 |
| | $ | 24,380 |
| | $ | 12,228 |
| | $ | (36,608 | ) | | $ | 4,558 |
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| Condensed Consolidating Statement of Cash Flows |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 30, 2013 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | Net cash provided by (used in) operating activities | $ | (15,118 | ) | | $ | 16,397 |
| | $ | (15,990 | ) | | $ | — |
| | $ | (14,711 | ) | Investing activities: | | | | | | | | | | Purchases of property, plant and equipment | (10,592 | ) | | (682 | ) | | (3,043 | ) | | — |
| | (14,317 | ) | Proceeds from the sale of assets | — |
| | — |
| | 11 |
| | — |
| | 11 |
| Acquisition of intangibles and other | (53 | ) | | — |
| | — |
| | — |
| | (53 | ) | Intercompany investing activities, net | 5,766 |
| | (23,000 | ) | | — |
| | 17,234 |
| | — |
| Net cash provided by (used in) investing activities | (4,879 | ) | | (23,682 | ) | | (3,032 | ) | | 17,234 |
| | (14,359 | ) | Financing activities: | | | | | | | | | | Proceeds from long-term borrowings | — |
| | — |
| | 6,666 |
| | — |
| | 6,666 |
| Proceeds from short-term borrowings | 1,446 |
| | — |
| | — |
| | — |
| | 1,446 |
| Repayment of long-term borrowings | (27 | ) | | — |
| | (885 | ) | | — |
| | (912 | ) | Repayment of short-term borrowings | (848 | ) | | — |
| | — |
| | — |
| | (848 | ) | Intercompany financing activities, net | 23,000 |
| | (5,766 | ) | | — |
| | (17,234 | ) | | — |
| Net cash provided by (used in) financing activities | 23,571 |
| | (5,766 | ) | | 5,781 |
| | (17,234 | ) | | 6,352 |
| Effect of exchange rate changes on cash | — |
| | — |
| | (534 | ) | | — |
| | (534 | ) | Net change in cash and cash equivalents | 3,574 |
| | (13,051 | ) | | (13,775 | ) | | — |
| | (23,252 | ) | Cash and cash equivalents at beginning of period | 486 |
| | 28,285 |
| | 69,108 |
| | — |
| | 97,879 |
| Cash and cash equivalents at end of period | $ | 4,060 |
| | $ | 15,234 |
| | $ | 55,333 |
| | $ | — |
| | $ | 74,627 |
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Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2012 | | | | | | | | | | | | | | | | | | | | | In thousands | PGI (Issuer) | | Guarantors | | Non-Guarantors | | Eliminations | | Consolidated | Net cash provided by (used in) operating activities | $ | (31,450 | ) | | $ | 28,014 |
| | $ | 23,050 |
| | $ | — |
| | $ | 19,614 |
| Investing activities: | | | | | | | | | | Purchases of property, plant and equipment | (8,316 | ) | | (623 | ) | | (4,373 | ) | | — |
| | (13,312 | ) | Proceeds from the sale of assets | — |
| | 1,646 |
| | 11 |
| | — |
| | 1,657 |
| Acquisition of intangibles and other | (56 | ) | | — |
| | — |
| | — |
| | (56 | ) | Intercompany investing activities, net | 15,771 |
| | (25,770 | ) | | (8,781 | ) | | 18,780 |
| | — |
| Net cash provided by (used in) investing activities | 7,399 |
| | (24,747 | ) | | (13,143 | ) | | 18,780 |
| | (11,711 | ) | Financing activities: | | | | | | | | | | Proceeds from long-term borrowings | — |
| | — |
| | 24 |
| | — |
| | 24 |
| Proceeds from short-term borrowings | 1,436 |
| | — |
| | 5 |
| | — |
| | 1,441 |
| Repayment of long-term borrowings | (22 | ) | | — |
| | (918 | ) | | — |
| | (940 | ) | Repayment of short-term borrowings | (72 | ) | | — |
| | (2,000 | ) | | — |
| | (2,072 | ) | Intercompany financing activities, net | 25,770 |
| | (6,990 | ) | | — |
| | (18,780 | ) | | — |
| Net cash provided by (used in) financing activities | 27,112 |
| | (6,990 | ) | | (2,889 | ) | | (18,780 | ) | | (1,547 | ) | Effect of exchange rate changes on cash | — |
| | — |
| | 523 |
| | — |
| | 523 |
| Net change in cash and cash equivalents | 3,061 |
| | (3,723 | ) | | 7,541 |
| | — |
| | 6,879 |
| Cash and cash equivalents at beginning of period | 3,135 |
| | 14,574 |
| | 55,033 |
| | — |
| | 72,742 |
| Cash and cash equivalents at end of period | $ | 6,196 |
| | $ | 10,851 |
| | $ | 62,574 |
| | $ | — |
| | $ | 79,621 |
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