Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'TENNECO INC | ' |
Entity Central Index Key | '0001024725 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 60,834,533 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
Net sales and operating revenues | $1,963 | $1,778 | $5,933 | $5,610 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | 1,691 | 1,494 | 5,031 | 4,696 |
Engineering, research, and development | 35 | 28 | 103 | 94 |
Selling, general, and administrative | 112 | 94 | 337 | 321 |
Depreciation and amortization of other intangibles | 51 | 49 | 151 | 148 |
Costs and expenses | 1,889 | 1,665 | 5,622 | 5,259 |
Other expense | ' | ' | ' | ' |
Loss on sale of receivables | -1 | -1 | -3 | -3 |
Other | -1 | -1 | -2 | -4 |
Total other income (expense) | -2 | -2 | -5 | -7 |
Earnings before interest expense, income taxes, and noncontrolling interests | 72 | 111 | 306 | 344 |
Interest expense (net of interest capitalized of $1 million in both of the three months ended September 30, 2013 and 2012, respectively, and $3 million in both of the nine months ended September 30, 2013 and 2012, respectively) | 20 | 21 | 60 | 84 |
Earnings before income taxes and noncontrolling interests | 52 | 90 | 246 | 260 |
Income tax (benefit) expense | 30 | -42 | 89 | -3 |
Net income | 22 | 132 | 157 | 263 |
Less: Net income attributable to noncontrolling interests | 10 | 7 | 28 | 21 |
Net income attributable to Tenneco Inc. | $12 | $125 | $129 | $242 |
Weighted average shares of common stock outstanding — | ' | ' | ' | ' |
Basic (in shares) | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 |
Diluted (in shares) | 61,865,375 | 60,949,632 | 61,583,629 | 61,266,124 |
Basic earnings per share of common stock (in dollars per share) | $0.19 | $2.09 | $2.13 | $4.04 |
Diluted earnings per share of common stock (in dollars per share) | $0.19 | $2.05 | $2.09 | $3.95 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Capitalized interest | $1 | $1 | $3 | $3 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net Income | $22 | $132 | $157 | $263 |
Translation of foreign currency statements | 23 | 14 | -27 | -3 |
Additional Liability for Pension and Postretirement Benefits, net of tax | 3 | 3 | 13 | 11 |
Other Comprehensive Income | 26 | 17 | -14 | 8 |
Comprehensive Income | 48 | 149 | 143 | 271 |
Cumulative Translation Adjustment | ' | ' | ' | ' |
Balance July 1 | -69 | -43 | -19 | -26 |
Translation of foreign currency statements | 23 | 14 | -27 | -3 |
Balance September 30 | -46 | -29 | -46 | -29 |
Additional Liability for Pension and Postretirement Benefits | ' | ' | ' | ' |
Balance July 1 | -374 | -344 | -384 | -352 |
Additional Liability for Pension and Postretirement Benefits, net of tax | 3 | 3 | 13 | 11 |
Balance September 30 | -371 | -341 | -371 | -341 |
Balance September 30 | -417 | -370 | -417 | -370 |
Tenneco Inc. | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net Income | 12 | 125 | 129 | 242 |
Translation of foreign currency statements | 23 | 14 | -27 | -3 |
Additional Liability for Pension and Postretirement Benefits, net of tax | 3 | 3 | 13 | 11 |
Other Comprehensive Income | 26 | 17 | -14 | 8 |
Comprehensive Income | 38 | 142 | 115 | 250 |
Cumulative Translation Adjustment | ' | ' | ' | ' |
Balance July 1 | -74 | -47 | -24 | -30 |
Translation of foreign currency statements | 23 | 14 | -27 | -3 |
Balance September 30 | -51 | -33 | -51 | -33 |
Additional Liability for Pension and Postretirement Benefits | ' | ' | ' | ' |
Balance July 1 | -374 | -344 | -384 | -352 |
Additional Liability for Pension and Postretirement Benefits, net of tax | 3 | 3 | 13 | 11 |
Balance September 30 | -371 | -341 | -371 | -341 |
Balance September 30 | -422 | -374 | -422 | -374 |
Noncontrolling Interests | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' |
Net Income | 10 | 7 | 28 | 21 |
Translation of foreign currency statements | 0 | 0 | 0 | 0 |
Other Comprehensive Income | 0 | 0 | 0 | 0 |
Comprehensive Income | 10 | 7 | 28 | 21 |
Cumulative Translation Adjustment | ' | ' | ' | ' |
Balance July 1 | 5 | 4 | 5 | 4 |
Translation of foreign currency statements | 0 | 0 | ' | 0 |
Balance September 30 | 5 | 4 | 5 | 4 |
Additional Liability for Pension and Postretirement Benefits | ' | ' | ' | ' |
Balance July 1 | 0 | 0 | 0 | 0 |
Balance September 30 | 0 | 0 | 0 | 0 |
Balance September 30 | $5 | $4 | $5 | $4 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $276 | $223 |
Restricted cash | 5 | 0 |
Receivables — | ' | ' |
Customer notes and accounts, net | 1,226 | 966 |
Other | 29 | 20 |
Inventories — | ' | ' |
Finished goods | 267 | 273 |
Work in process | 228 | 207 |
Raw materials | 148 | 133 |
Materials and supplies | 56 | 54 |
Deferred income taxes | 76 | 72 |
Prepayments and other | 268 | 176 |
Total current assets | 2,579 | 2,124 |
Other assets: | ' | ' |
Long-term receivables, net | 8 | 4 |
Goodwill | 70 | 72 |
Intangibles, net | 31 | 35 |
Deferred income taxes | 158 | 116 |
Other | 120 | 135 |
Total other assets | 387 | 362 |
Plant, property, and equipment, at cost | 3,423 | 3,365 |
Less — Accumulated depreciation and amortization | -2,290 | -2,243 |
Plant, property and equipment, net | 1,133 | 1,122 |
Total Assets | 4,099 | 3,608 |
Current liabilities: | ' | ' |
Short-term debt (including current maturities of long-term debt) | 131 | 113 |
Trade payables | 1,288 | 1,186 |
Accrued taxes | 45 | 50 |
Accrued interest | 14 | 10 |
Accrued liabilities | 270 | 239 |
Other | 104 | 51 |
Total current liabilities | 1,852 | 1,649 |
Long-term debt | 1,226 | 1,067 |
Deferred income taxes | 25 | 27 |
Postretirement benefits | 358 | 407 |
Deferred credits and other liabilities | 199 | 152 |
Total liabilities | 3,660 | 3,302 |
Redeemable noncontrolling interests | 15 | 15 |
Tenneco Inc. Shareholders’ equity: | ' | ' |
Common stock | 1 | 1 |
Premium on common stock and other capital surplus | 3,070 | 3,031 |
Accumulated other comprehensive loss | -422 | -408 |
Retained earnings (accumulated deficit) | -1,975 | -2,104 |
Shareholders Equity Before Deduction Of Treasury Stock, Total | 674 | 520 |
Less — Shares held as treasury stock, at cost | 294 | 274 |
Total Tenneco Inc. shareholders’ equity | 380 | 246 |
Noncontrolling interests | 44 | 45 |
Total equity | 424 | 291 |
Total liabilities, redeemable noncontrolling interests and equity | $4,099 | $3,608 |
CONDENSED_CONSOLIDATED_STATEME3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities | ' | ' | ' | ' |
Net Income | $22 | $132 | $157 | $263 |
Adjustments to reconcile net income to cash provided by operating activities — | ' | ' | ' | ' |
Depreciation and amortization of other intangibles | 51 | 49 | 151 | 148 |
Deferred income taxes | -10 | -87 | 6 | -94 |
Stock-based compensation | 3 | 2 | 10 | 9 |
Loss on sale of assets | -1 | 1 | 1 | 3 |
Changes in components of working capital — | ' | ' | ' | ' |
(Increase) decrease in receivables | -27 | 55 | -280 | -157 |
(Increase) decrease in inventories | -21 | 2 | -39 | -81 |
(Increase) decrease in prepayments and other current assets | -16 | -1 | -97 | -40 |
Increase (decrease) in payables | -38 | -50 | 111 | 36 |
Increase (decrease) in accrued taxes | 8 | 19 | -5 | 37 |
Increase (decrease) in accrued interest | 4 | 5 | 4 | 1 |
Increase (decrease) in other current liabilities | 79 | 0 | 86 | 15 |
Changes in long-term assets | 6 | 7 | 9 | 16 |
Changes in long-term liabilities | -11 | -13 | -31 | -35 |
Other | 1 | 4 | 8 | 5 |
Net cash provided by operating activities | 50 | 125 | 91 | 126 |
Investing Activities | ' | ' | ' | ' |
Proceeds from the sale of assets | 4 | 1 | 6 | 2 |
Cash payments for plant, property, and equipment | -54 | -70 | -178 | -195 |
Cash payments for software related intangible assets | -7 | -3 | -19 | -10 |
Cash payments for net assets purchased | 0 | -7 | 0 | -7 |
Changes in restricted cash | 0 | 0 | -5 | 0 |
Net cash (used) by investing activities | -57 | -79 | -196 | -210 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 4 | 0 | 17 | 0 |
Tax benefit from stock-based compensation | 17 | 0 | 17 | 0 |
Retirement of long-term debt | -5 | -3 | -13 | -406 |
Issuance of long-term debt | 0 | 0 | 0 | 250 |
Debt issuance cost of long-term debt | 0 | 0 | 0 | -13 |
Purchase of common stock under the share repurchase program | -18 | 0 | -20 | -18 |
Increase (decrease) in bank overdrafts | -38 | 2 | -3 | 2 |
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt | 84 | -19 | 191 | 217 |
Net increase in short-term borrowings secured by accounts receivable | 0 | 0 | 0 | 60 |
Capital contribution from noncontrolling interest partners | 0 | 4 | 0 | 5 |
Distributions to noncontrolling interest partners | -6 | -9 | -29 | -27 |
Net cash provided (used) by financing activities | 38 | -25 | 160 | 70 |
Effect of foreign exchange rate changes on cash and cash equivalents | 10 | 5 | -2 | 7 |
Increase (decrease) in cash and cash equivalents | 41 | 26 | 53 | -7 |
Cash and cash equivalents, July 1 and January 1, respectively | 235 | 181 | 223 | 214 |
Cash and cash equivalents, September 30 (Note) | 276 | 207 | 276 | 207 |
Supplemental Cash Flow Information | ' | ' | ' | ' |
Cash paid during the period for interest | 16 | 16 | 55 | 75 |
Cash paid during the period for income taxes (net of refunds) | 21 | 18 | 92 | 54 |
Non-cash Investing and Financing Activities | ' | ' | ' | ' |
Period end balance of trade payables for plant, property, and equipment | $27 | $25 | $27 | $25 |
CONDENSED_CONSOLIDATED_STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS EQUITY (USD $) | Total | Common Stock | Premium on Common Stock and Other Capital Surplus | Accumulated Other Comprehensive Loss | Retained Earnings (Accumulated Deficit) | Less — Common Stock Held as Treasury Stock, at Cost | Tenneco Inc. | Noncontrolling Interests |
In Millions, except Share data, unless otherwise specified | ||||||||
Balance January 1 at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | $43 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Contribution | ' | ' | ' | ' | ' | ' | ' | -3 |
Balance September 30 at Mar. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance January 1 at Dec. 31, 2011 | ' | 1 | 3,016 | -382 | -2,379 | 256 | ' | 43 |
Balance January 1 at Dec. 31, 2011 | ' | 62,101,335 | ' | ' | ' | 1,694,692 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on common stock issued pursuant to benefit plans | ' | ' | 10 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | 8 | ' | ' | ' | ' |
Net income attributable to Tenneco Inc. | 242 | ' | ' | ' | 242 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | 16 |
Dividends declared | ' | ' | ' | ' | ' | ' | ' | -20 |
Purchase of common stock through stock repurchase program, Shares | ' | ' | ' | ' | ' | 600,000 | ' | ' |
Purchase of common stock through stock repurchase program | ' | ' | ' | ' | ' | 18 | ' | ' |
Issued pursuant to benefit plans | ' | 149,497 | ' | ' | ' | ' | ' | ' |
Stock options exercised | ' | 232,258 | ' | ' | ' | ' | ' | ' |
Balance September 30 at Sep. 30, 2012 | 284 | 1 | 3,026 | -374 | -2,137 | 274 | 242 | 42 |
Balance September 30 at Sep. 30, 2012 | ' | 62,483,090 | ' | ' | ' | 2,294,692 | ' | ' |
Balance January 1 at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | 45 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Capital Contribution | ' | ' | ' | ' | ' | ' | ' | 0 |
Balance September 30 at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' |
Balance January 1 at Dec. 31, 2012 | 291 | 1 | 3,031 | -408 | -2,104 | 274 | ' | 45 |
Balance January 1 at Dec. 31, 2012 | ' | 62,789,382 | ' | ' | ' | 2,294,692 | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on common stock issued pursuant to benefit plans | ' | ' | 39 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | -14 | ' | ' | ' | ' |
Net income attributable to Tenneco Inc. | 129 | ' | ' | ' | 129 | ' | ' | ' |
Net income | ' | ' | ' | ' | ' | ' | ' | 18 |
Dividends declared | ' | ' | ' | ' | ' | ' | ' | -19 |
Purchase of common stock through stock repurchase program, Shares | ' | ' | ' | ' | ' | 419,900 | ' | ' |
Purchase of common stock through stock repurchase program | ' | ' | ' | ' | ' | 20 | ' | ' |
Issued pursuant to benefit plans | ' | 158,308 | ' | ' | ' | ' | ' | ' |
Stock options exercised | ' | 638,817 | ' | ' | ' | ' | ' | ' |
Balance September 30 at Sep. 30, 2013 | $424 | $1 | $3,070 | ($422) | ($1,975) | $294 | $380 | $44 |
Balance September 30 at Sep. 30, 2013 | ' | 63,586,507 | ' | ' | ' | 2,714,592 | ' | ' |
Consolidation_and_Presentation
Consolidation and Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Consolidation and Presentation | ' |
Consolidation and Presentation | |
As you read the accompanying financial statements you should also read our Annual Report on Form 10-K for the year ended December 31, 2012. | |
In our opinion, the accompanying unaudited financial statements contain all adjustments (consisting of normal recurring adjustments) necessary to present fairly Tenneco Inc.’s results of operations, comprehensive income, financial position, cash flows, and changes in shareholders’ equity for the periods indicated. We have prepared the unaudited condensed consolidated financial statements pursuant to the rules and regulations of the U.S. Securities and Exchange Commission for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (U.S. GAAP) for annual financial statements. | |
Our condensed consolidated financial statements include all majority-owned subsidiaries. We carry investments in 20 percent to 50 percent owned companies in which the Company does not have a controlling interest, as equity method investments, at cost plus equity in undistributed earnings since the date of acquisition and cumulative translation adjustments. We have eliminated all intercompany transactions. We have evaluated all significant subsequent events for any impact on these financial statements through the date they were issued. |
Financial_Instruments
Financial Instruments | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||
Financial Instruments | ' | |||||||||||||||||||||
Financial Instruments | ||||||||||||||||||||||
The carrying and estimated fair values of our financial instruments by class at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Long-term debt (including current maturities) | $ | 1,227 | $ | 1,290 | $ | 1,070 | $ | 1,136 | ||||||||||||||
Instruments with off-balance sheet risk: | ||||||||||||||||||||||
Foreign exchange forward contracts: | ||||||||||||||||||||||
Asset derivative contracts | — | — | 1 | 1 | ||||||||||||||||||
Asset and Liability Instruments — The fair value of cash and cash equivalents, short and long-term receivables, accounts payable, and short-term debt was considered to be the same as or was not determined to be materially different from the carrying amount. | ||||||||||||||||||||||
Long-term Debt — The fair value of our public fixed rate senior notes is based on quoted market prices (level 1). The fair value of our private borrowings under our senior credit facility and other long-term debt instruments is based on the market value of debt with similar maturities, interest rates and risk characteristics (level 2). The fair value of our level 1 debt, as classified in the fair value hierarchy, was $787 million and $790 million at September 30, 2013 and December 31, 2012, respectively. We have classified $493 million and $334 million as level 2 in the fair value hierarchy at September 30, 2013 and December 31, 2012, respectively, since we utilize valuation inputs that are observable both directly and indirectly. We classified the remaining $10 million and $12 million, consisting of foreign subsidiary debt, as level 3 in the fair value hierarchy at September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||||||||
Foreign Exchange Forward Contracts — We use derivative financial instruments, principally foreign currency forward purchase and sales contracts with terms of less than one year, to hedge our exposure to changes in foreign currency exchange rates. Our primary exposure to changes in foreign currency rates results from intercompany loans made between affiliates to minimize the need for borrowings from third parties. Additionally, we enter into foreign currency forward purchase and sale contracts to mitigate our exposure to changes in exchange rates on certain intercompany and third-party trade receivables and payables. We manage counter-party credit risk by entering into derivative financial instruments with major financial institutions that can be expected to fully perform under the terms of such agreements. We do not enter into derivative financial instruments for speculative purposes. The fair value of our foreign currency forward contracts is based on an internally developed model which incorporates observable inputs including quoted spot rates, forward exchange rates and discounted future expected cash flows utilizing market interest rates with similar quality and maturity characteristics. We record the change in fair value of these foreign exchange forward contracts as part of currency gains (losses) within cost of sales in the condensed consolidated statements of income. The fair value of foreign exchange forward contracts are recorded in prepayments and other current assets or other current liabilities in the condensed consolidated balance sheet. The fair value of our foreign exchange forward contracts, presented on a gross basis at September 30, 2013 and December 31, 2012, respectively, was as follows: | ||||||||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Asset | Liability | Total | Asset | Liability | Total | |||||||||||||||||
Derivatives | Derivatives | Derivatives | Derivatives | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Foreign exchange forward contracts | $— | $— | $— | $1 | $— | $1 | ||||||||||||||||
The fair value of our recurring financial assets at September 30, 2013 and December 31, 2012, respectively, are as follows: | ||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
(Millions) | ||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||
Foreign exchange forward contracts | n/a | $ | — | n/a | n/a | $ | 1 | n/a | ||||||||||||||
The fair value hierarchy definition prioritizes the inputs used in measuring fair value into the following levels: | ||||||||||||||||||||||
Level 1 | — | Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||
Level 2 | — | Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. | ||||||||||||||||||||
Level 3 | — | Unobservable inputs based on our own assumptions. | ||||||||||||||||||||
The following table summarizes by major currency the notional amounts for foreign currency forward purchase and sale contracts as of September 30, 2013 (all of which mature in 2013): | ||||||||||||||||||||||
Notional Amount | ||||||||||||||||||||||
in Foreign Currency | ||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Australian dollars | —Purchase | 3 | ||||||||||||||||||||
British pounds | —Purchase | 9 | ||||||||||||||||||||
European euro | —Sell | (9 | ) | |||||||||||||||||||
South African rand | —Purchase | 107 | ||||||||||||||||||||
Japanese yen | —Purchase | 98 | ||||||||||||||||||||
—Sell | (842 | ) | ||||||||||||||||||||
Mexican peso | —Purchase | 6 | ||||||||||||||||||||
Polish zloty | —Purchase | 21 | ||||||||||||||||||||
U.S. dollars | —Purchase | 13 | ||||||||||||||||||||
—Sell | (25 | ) | ||||||||||||||||||||
Other | —Sell | (2 | ) | |||||||||||||||||||
Guarantees —We have from time to time issued guarantees for the performance of obligations by some of our subsidiaries, and some of our subsidiaries have guaranteed our debt. All of our existing and future material domestic wholly-owned subsidiaries fully and unconditionally guarantee our senior credit facility and our senior notes on a joint and several basis. The arrangement for the senior credit facility is also secured by first-priority liens on substantially all our domestic assets and pledges of up to 66 percent of the stock of certain first-tier foreign subsidiaries. No assets or capital stock of our direct or indirect subsidiaries secure our senior notes. For additional information, refer to Note 13 of our condensed consolidated financial statements, where we present the Supplemental Guarantor Condensed Consolidating Financial Statements. | ||||||||||||||||||||||
We have two performance guarantee agreements in the U.K. between Tenneco Management Europe Limited (“TMEL”) and the two Walker Group Retirement Plans, the Walker Group Employee Benefit Plan and the Walker Group Executive Retirement Benefit Plan (the “Walker Plans”), whereby TMEL will guarantee the payment of all current and future pension contributions in event of a payment default by the sponsoring or participating employers of the Walker Plans. As a result of our decision to enter into these performance guarantee agreements, the levy due to the U.K. Pension Protection Fund was reduced. The Walker Plans are comprised of employees from Tenneco Walker (U.K.) Limited and our Futaba-Tenneco U.K. joint venture. Employer contributions are funded by both Tenneco Walker (U.K.) Limited, as the sponsoring employer and Futaba-Tenneco U.K., as a participating employer. The performance guarantee agreements are expected to remain in effect until all pension obligations for the Walker Plans’ sponsoring and participating employers have been satisfied. The maximum amount payable for these pension performance guarantees is approximately $34 million as of September 30, 2013 which is determined by taking 105 percent of the liability of the Walker Plans calculated under section 179 of the U.K. Pension Act of 2004 offset by plan assets. We did not record an additional liability for this performance guarantee since Tenneco Walker (U.K.) Limited, as the sponsoring employer of the Walker Plans, already recognizes 100 percent of the pension obligation calculated based on U.S. GAAP, for all of the Walker Plans’ participating employers on its balance sheet, which was $4 million and $7 million at September 30, 2013 and December 31, 2012, respectively. At September 30, 2013, all pension contributions under the Walker Plans were current for all of the Walker Plans’ sponsoring and participating employers. | ||||||||||||||||||||||
In June 2011, we entered into an indemnity agreement between TMEL and Futaba Industrial Co. Ltd. which requires Futaba to indemnify TMEL for any cost, loss or liability which TMEL may incur under the performance guarantee agreements relating to the Futaba-Tenneco U.K. joint venture. The maximum amount reimbursable by Futaba to TMEL under this indemnity agreement is equal to the amount incurred by TMEL under the performance guarantee agreements multiplied by Futaba’s shareholder ownership percentage of the Futaba-Tenneco U.K. joint venture. At September 30, 2013, the maximum amount reimbursable by Futaba to TMEL is approximately $6 million. | ||||||||||||||||||||||
We have issued guarantees through letters of credit in connection with some obligations of our affiliates. As of September 30, 2013, we have guaranteed $40 million in letters of credit to support some of our subsidiaries’ insurance arrangements, foreign employee benefit programs, environmental remediation activities and cash management and capital requirements. | ||||||||||||||||||||||
Negotiable Financial Instruments — One of our European subsidiaries receives payment from one of its customers whereby the accounts receivable are satisfied through the delivery of negotiable financial instruments. We may collect these financial instruments before their maturity date by either selling them at a discount or using them to satisfy accounts receivable that have previously been sold to a European bank. Any of these financial instruments which are not sold are classified as other current assets. The amount of these financial instruments that was collected before their maturity date and sold at a discount totaled $4 million and $6 million at September 30, 2013 and December 31, 2012, respectively. No negotiable financial instruments were held by our European subsidiary as of September 30, 2013 or December 31, 2012. | ||||||||||||||||||||||
In certain instances, several of our Chinese subsidiaries receive payment from customers and satisfy vendor payments through the receipt and delivery of negotiable financial instruments. Financial instruments used to satisfy vendor payables and not redeemed totaled $13 million and $12 million at September 30, 2013 and December 31, 2012, respectively, and were classified as notes payable. Financial instruments received from customers and not redeemed totaled $16 million and $8 million at September 30, 2013 and December 31, 2012, respectively. We classify financial instruments received from our customers as other current assets if issued by a financial institution of our customers or as customer notes and accounts, net if issued by our customer. We classified $16 million and $8 million in other current assets at September 30, 2013 and December 31, 2012, respectively. Some of our Chinese subsidiaries that issue their own negotiable financial instruments to pay vendors are required to maintain a cash balance if they exceed certain credit limits with the financial institution that guarantees those financial instruments. A restricted cash balance was not required at those Chinese subsidiaries at September 30, 2013 or December 31, 2012. | ||||||||||||||||||||||
The negotiable financial instruments received by one of our European subsidiaries and some of our Chinese subsidiaries are checks drawn by our customers and guaranteed by their banks that are payable at a future date. The use of these instruments for payment follows local commercial practice. Because negotiable financial instruments are financial obligations of our customers and are guaranteed by our customers’ banks, we believe they represent a lower financial risk than the outstanding accounts receivable that they satisfy which are not guaranteed by a bank. | ||||||||||||||||||||||
Supply Chain Financing — Near the end of the second quarter of 2013 certain of our suppliers in the U.S. extended their payment terms to Tenneco. The liquidity benefit to Tenneco from the extended payment terms totaled $10 million at September 30, 2013. These suppliers also began participating in a supply chain financing program under which they securitize their accounts receivables from Tenneco with several financial institutions. The financial institutions participate in the supply chain financing program on an uncommitted basis and can cease purchasing receivables from Tenneco's suppliers at any time. If the financial institutions did not continue to purchase receivables from Tenneco's suppliers under this program, the participating vendors could reduce their payment terms to Tenneco which in turn would cause our borrowings under our revolving credit facility to increase. | ||||||||||||||||||||||
Restricted Cash - Two of our Australian subsidiaries have arranged for $5 million in guarantees to be issued by a financial institution to support some of our subsidiaries' insurance arrangements and foreign employee benefit programs. These guarantees were supported by a cash deposit with the financial institution which has been classified as restricted cash on the Tenneco Inc. consolidated balance sheet at September 30, 2013. |
LongTerm_Debt_and_Financing_Ar
Long-Term Debt and Financing Arrangements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Long-Term Debt and Financing Arrangements | ' | ||||||||||||||||
Long-Term Debt and Financing Arrangements | |||||||||||||||||
Our financing arrangements are primarily provided by a committed senior secured financing arrangement with a syndicate of banks and other financial institutions. The arrangement is secured by substantially all our domestic assets and pledges of up to 66 percent of the stock of certain first-tier foreign subsidiaries, as well as guarantees by our material domestic subsidiaries. | |||||||||||||||||
On March 22, 2012, we completed an amendment and restatement of our senior credit facility by increasing the amount and extending the maturity date of our revolving credit facility and adding a new $250 million Tranche A Term Facility. The amended and restated facility replaces our former $556 million revolving credit facility, $148 million Tranche B Term Facility and $130 million Tranche B-1 letter of credit/revolving loan facility. The proceeds from this refinancing transaction were used to repay our $148 million Tranche B Term Facility and, as described below, to fund the purchase and redemption of our $250 million 8.125 percent senior notes due in 2015. As of September 30, 2013, the senior credit facility provides us with a total revolving credit facility size of $850 million and had a $231 million balance outstanding under the Tranche A Term Facility, both of which will mature on March 22, 2017. Funds may be borrowed, repaid and re-borrowed under the revolving credit facility without premium or penalty. The revolving credit facility is reflected as debt on our balance sheet only if we borrow money under this facility or if we use the facility to make payments for letters of credit. Outstanding letters of credit reduce our availability to enter into revolving loans under the facility. We are required to make quarterly principal payments under the Tranche A Term Facility of $3.1 million through March 31, 2014, $6.3 million beginning June 30, 2014 through March 31, 2015, $9.4 million beginning June 30, 2015 through March 31, 2016, $12.5 million beginning June 30, 2016 through December 31, 2016 and a final payment of $125 million is due on March 22, 2017. | |||||||||||||||||
The financial ratios required under the amended and restated senior credit facility, and the actual ratios we achieved for the three quarters of 2013, are as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
March 31, 2013 | June 30, 2013 | September 30, 2013 | |||||||||||||||
Required | Actual | Required | Actual | Required | Actual | ||||||||||||
Leverage Ratio (maximum) | 3.5 | 1.98 | 3.5 | 1.79 | 3.5 | 1.86 | |||||||||||
Interest Coverage Ratio (minimum) | 2.55 | 8.39 | 2.55 | 8.74 | 2.55 | 9.09 | |||||||||||
The senior credit facility includes a maximum leverage ratio covenant of 3.50 through March 22, 2017 and a minimum interest coverage ratio of 2.55 through December 31, 2013 and 2.75 thereafter, through March 22, 2017. | |||||||||||||||||
On March 8, 2012, we announced a cash tender offer to purchase our outstanding $250 million 8.125 percent senior notes due in 2015 and a solicitation of consents to certain proposed amendments to the indenture governing these notes. We received tenders and consents representing $232 million aggregate principal amount of the notes and, on March 22, 2012, we purchased the tendered notes at a price of 104.44 percent of the principal amount (which includes a consent payment of three percent of the principal amount), plus accrued and unpaid interest, and amended the related indenture. On April 6, 2012, we redeemed all remaining outstanding $18 million aggregate principal amount of senior notes that were not purchased pursuant to the tender offer at a price of 104.06 percent of the principal amount, plus accrued and unpaid interest. The additional liquidity provided by the new $850 million revolving credit facility and the new $250 million Tranche A Term Facility was used to fund the total cost of the tender offer and redemption, including all related fees and expenses. | |||||||||||||||||
We recorded $17 million of pre-tax charges in March 2012 related to the refinancing of our senior credit facility, the repurchase and redemption of $232 million aggregate principal amount of our 8.125 percent senior notes due in 2015 and the write-off of deferred debt issuance costs relating to these senior notes. We recorded an additional $1 million of pre-tax charges during the second quarter of 2012 relating to the redemption of the remaining $18 million aggregate principal amount of our 8.125 percent senior notes which occurred in April 2012. | |||||||||||||||||
At September 30, 2013, of the $850 million available under the revolving credit facility, we had unused borrowing capacity of $550 million with $261 million in outstanding borrowings and $39 million in outstanding letters of credit. As of September 30, 2013, our outstanding debt also included $231 million related to our Tranche A Term Facility which is subject to quarterly principal payments as described above through March 22, 2017, $225 million of 7.75 percent senior notes due August 15, 2018, $500 million of 6.875 percent senior notes due December 15, 2020, and $140 million of other debt. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Sep. 30, 2013 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
Income Taxes | ||
We reported an income tax expense of $30 million and benefit of $42 million in the three month periods ended September 30, 2013 and 2012, respectively, and an income tax expense of $89 million and benefit of $3 million in the nine month periods ended September 30, 2013 and 2012, respectively. The tax expense recorded in the first nine months of 2013 includes a net tax benefit of $22 million for changes to prior year estimates primarily related to recognizing a U.S. tax benefit for foreign taxes. Because our operations in Spain and Belgium are in a valuation allowance position, we were unable to recognize a tax benefit for the $55 million of restructuring charges incurred in these two countries during the third quarter of 2013. | ||
The U.S. tax benefit for foreign taxes is driven by our ability to claim a U.S. foreign tax credit beginning in 2013. The U.S. foreign tax credit regime provides for a credit against U.S. taxes otherwise payable for foreign taxes paid with regard to dividends, interest and royalties paid to us in the U.S. | ||
In 2008, given our historical losses in the U.S., we concluded that our ability to fully utilize our federal and state net operating loss ("NOL") carryforward was limited. As a result, we recorded a valuation allowance against all of our U.S. deferred tax assets except for our tax planning strategies which had not yet been implemented and which did not depend upon generating future taxable income. Prior to the reversal of the valuation allowance in the third quarter of 2012, we carried a deferred tax asset in the U.S. of $90 million relating to the expected utilization of the federal and state NOL. The recording of a valuation allowance did not impact the amount of the NOL that would be available for federal and state income tax purposes in future periods. | ||
In the third quarter of 2012, we reversed the tax valuation allowance against our net deferred tax assets in the U.S. based on operating improvements we had made, the outlook for light and commercial vehicle production in the U.S. and the positive impact this should have on our U.S. operations. The net income impact of the tax valuation allowance release in the U.S was a tax benefit of approximately $81 million. Our federal NOL at December 31, 2012 totaled $190 million and expires beginning in tax years ending in 2025 through 2030. The state NOLs expire in various tax years through 2032. | ||
Valuation allowances are established in certain foreign jurisdictions for deferred tax assets based on a “more likely than not” standard. The ability to realize deferred tax assets depends on our ability to generate sufficient taxable income within the carryforward periods provided for in the tax law for each tax jurisdiction. We have considered the following possible sources of taxable income when assessing the realization of our deferred tax assets: | ||
• | Future reversals of existing taxable temporary differences; | |
• | Taxable income or loss, based on recent results, exclusive of reversing temporary differences and carryforwards; | |
• | Tax-planning strategies; and | |
• | Taxable income in prior carryback years if carryback is permitted under the relevant tax law. | |
The valuation allowances recorded against deferred tax assets generated by taxable losses in Spain and certain other foreign jurisdictions will impact our provision for income taxes until the valuation allowances are released. Our provision for income taxes will include no tax benefit for losses incurred and no tax expense with respect to income generated in these jurisdictions until the respective valuation allowance is eliminated. |
Accounts_Receivable_Securitiza
Accounts Receivable Securitization | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Accounts Receivables Additional Information [Abstract] | ' |
Accounts Receivable Securitization | ' |
Accounts Receivable Securitization | |
We securitize some of our accounts receivable on a limited recourse basis in North America and Europe. As servicer under these accounts receivable securitization programs, we are responsible for performing all accounts receivable administration functions for these securitized financial assets including collections and processing of customer invoice adjustments. In North America, we have an accounts receivable securitization program with three commercial banks comprised of a first priority facility and a second priority facility. We securitize original equipment and aftermarket receivables on a daily basis under the bank program. In March 2013, the North American program was amended and extended to March 21, 2014. The first priority facility continues to provide financing of up to $110 million and the second priority facility, which is subordinated to the first priority facility, continues to provide up to an additional $40 million of financing. Both facilities monetize accounts receivable generated in the U.S. and Canada that meet certain eligibility requirements, and the second priority facility also monetizes certain accounts receivable generated in the U.S. and Canada that would otherwise be ineligible under the first priority securitization facility. The amount of outstanding third-party investments in our securitized accounts receivable under the North American program was $50 million at both September 30, 2013 and December 31, 2012. | |
Each facility contains customary covenants for financings of this type, including restrictions related to liens, payments, mergers or consolidations and amendments to the agreements underlying the receivables pool. Further, each facility may be terminated upon the occurrence of customary events (with customary grace periods, if applicable), including breaches of covenants, failure to maintain certain financial ratios, inaccuracies of representations and warranties, bankruptcy and insolvency events, certain changes in the rate of default or delinquency of the receivables, a change of control and the entry or other enforcement of material judgments. In addition, each facility contains cross-default provisions, where the facility could be terminated in the event of non-payment of other material indebtedness when due and any other event which permits the acceleration of the maturity of material indebtedness. | |
We also securitize receivables in our European operations with regional banks in Europe under various separate facilities. The commitments for these arrangements are generally for one year, but some may be canceled with notice 90 days prior to renewal. In some instances, the arrangement provides for cancellation by the applicable financial institution at any time upon 15 days, or less, notification. The amount of outstanding third-party investments in our securitized accounts receivable in Europe was $150 million and $94 million at September 30, 2013 and December 31, 2012, respectively. | |
If we were not able to securitize receivables under either the North American or European securitization programs, our borrowings under our revolving credit agreement might increase. These accounts receivable securitization programs provide us with access to cash at costs that are generally favorable to alternative sources of financing, and allow us to reduce borrowings under our revolving credit agreement. | |
In our North American accounts receivable securitization programs, we transfer a partial interest in a pool of receivables and the interest that we retain is subordinate to the transferred interest. Accordingly, we account for our North American securitization program as a secured borrowing. In our European programs, we transfer accounts receivables in their entirety to the acquiring entities and satisfy all of the conditions established under Accounting Standards Codification (ASC) Topic 860, “Transfers and Servicing,” to report the transfer of financial assets in their entirety as a sale. The proceeds received in exchange for the transfer of accounts receivable under our European securitization programs approximates the fair value of such receivables. We recognized less than $1 million interest expense in each of the three month periods ended September 30, 2013 and 2012, and $2 million for each of the nine month periods ended September 30, 2013 and 2012, relating to our North American securitization program. In addition, we recognized a loss of $1 million in each of the three month periods ended September 30, 2013 and 2012, and $3 million for each of the nine month periods ended September 30, 2013 and 2012, on the sale of trade accounts receivable in our European accounts receivable securitization programs, representing the discount from book values at which these receivables were sold to our banks. The discount rate varies based on funding costs incurred by our banks, which averaged approximately three percent during both the first half of 2013 and 2012, respectively. |
Restructuring_and_Other_Charge
Restructuring and Other Charges | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Restructuring Reserve [Abstract] | ' | |||||||||||||||
Restructuring and Other Charges | ' | |||||||||||||||
Restructuring and Other Charges | ||||||||||||||||
Over the past several years, we have adopted plans to restructure portions of our operations. These plans were approved by our Board of Directors and were designed to reduce operational and administrative overhead costs throughout the business. In 2012, we incurred $13 million in restructuring and related costs, primarily related to headcount reductions in South America and non-cash asset write downs of $4 million in Europe, of which $10 million was recorded in cost of sales and $3 million was recorded in SG&A. In the third quarter of 2013, we incurred $58 million in restructuring and related costs, primarily related to European cost reduction efforts including non-cash asset write downs of $2 million and headcount reductions in various regions, of which $56 million was recorded in cost of sales, $1 million was recorded in SG&A and $1 million was recorded in other expense. In the third quarter of 2012, we incurred $7 million in restructuring and related costs, primarily related to non-cash asset write downs of $4 million in Europe and headcount reductions in South America of which $4 million was recorded in cost of sales and $3 million was recorded in SG&A. For the first nine months of 2013, we have incurred $69 million in restructuring and related costs, primarily related to European cost reduction efforts including non-cash asset write downs of $2 million, our exit from the distribution of aftermarket exhaust products and ending production of leaf springs in Australia, headcount reductions in various regions, and the net impact of freezing our defined benefit plans in the United Kingdom, of which $63 million was recorded in cost of sales, $5 million was recorded in SG&A and $1 million was recorded in other expense. For the first nine months of 2012, we incurred $10 million in restructuring and related costs primarily related to non-cash asset write downs of $4 million in Europe and headcount reductions in South America, of which $7 million was recorded in cost of sales and $3 million was recorded in SG&A. | ||||||||||||||||
Amounts related to activities that are part of our restructuring reserves are as follows: | ||||||||||||||||
December 31, | 2013 | 2013 | September 30, | |||||||||||||
2012 | Expenses | Cash | 2013 | |||||||||||||
Restructuring | Payments | Restructuring | ||||||||||||||
Reserve | Reserve | |||||||||||||||
(Millions) | ||||||||||||||||
Employee Severance and Termination Benefits | $— | $67 | ($14 | ) | $53 | |||||||||||
Under the terms of our amended and restated senior credit agreement that took effect on March 22, 2012, we are allowed to exclude $80 million of cash charges and expenses, before taxes, related to cost reduction initiatives incurred after March 22, 2012 from the calculation of the financial covenant ratios required under our senior credit facility. As of September 30, 2013, we have excluded $75 million in cumulative allowable charges relating to restructuring initiatives against the $80 million available under the terms of the senior credit facility. | ||||||||||||||||
On January 31, 2013, we announced our intent to reduce structural costs in Europe. This initiative includes the non-cash charges of $4 million we incurred in 2012 in connection with the announced closing of the Vittaryd facility in Sweden and a $7 million charge recorded in the fourth quarter of 2012 related to the impairment of certain assets in the European ride performance business. In August 2013, we completed the closure of the Vittaryd facility. $56 million of the total of $58 million we incurred in restructuring and related costs in the third quarter of 2013 was related to this initiative, including $2 million for non-cash asset write downs. $61 million of the total of $69 million we incurred in restructuring and related costs in the first nine months of 2013 was related to this initiative, including $2 million for non-cash asset write downs. On September 5, 2013, we announced our intent to close our ride performance plant in Gijon, Spain and reduce the workforce at our ride performance plant in Sint-Truiden, Belgium. We recorded $55 million in charges related to these actions in the third quarter of 2013. These charges included non-cash asset impairments, the cost of relocating tooling, equipment and production to other facilities, severance and retention payments to employees and other costs related to these actions. |
Environmental_Matters_Litigati
Environmental Matters, Litigation and Product Warranties | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Environmental Matters, Litigation and Product Warranties [Abstract] | ' | |||||||
Environmental Matters, Litigation and Product Warranties | ' | |||||||
Environmental Matters, Litigation and Product Warranties | ||||||||
We are involved in environmental remediation matters, legal proceedings, claims, investigations and warranty obligations that are incidental to the conduct of our business and create the potential for contingent losses. We accrue for potential contingent losses when our review of available facts indicates that it is probable a loss has been incurred and the amount of the loss is reasonably estimable. Each quarter we assess our loss contingencies based upon currently available facts, existing technology, presently enacted laws and regulations and taking into consideration the likely effects of inflation and other societal and economic factors and record adjustments to these reserves as required. As an example, we consider all available evidence, including prior experience in remediation of contaminated sites, other companies’ cleanup experiences and data released by the United States Environmental Protection Agency or other organizations when we evaluate our environmental remediation contingencies. All of our loss contingency estimates are subject to revision in future periods based on actual costs or new information. With respect to our environmental liabilities, where future cash flows are fixed or reliably determinable, we have discounted those liabilities. All other environmental liabilities are recorded at their undiscounted amounts. We evaluate recoveries separately from the liability and, when they are assured, recoveries are recorded and reported separately from the associated liability in our consolidated financial statements. | ||||||||
We are subject to a variety of environmental and pollution control laws and regulations in all jurisdictions in which we operate. We expense or capitalize, as appropriate, expenditures for ongoing compliance with environmental regulations that relate to current operations. We expense costs related to an existing condition caused by past operations that do not contribute to current or future revenue generation. As of September 30, 2013, we have the obligation to remediate or contribute towards the remediation of certain sites, including one Federal Superfund site. At September 30, 2013, our aggregated estimated share of environmental remediation costs for all these sites on a discounted basis was approximately $16 million, of which $4 million is recorded in other current liabilities and $12 million is recorded in deferred credits and other liabilities in our condensed consolidated balance sheet. For those locations where the liability was discounted, the weighted average discount rate used was 2.40 percent. The undiscounted value of the estimated remediation costs was $20 million. Our expected payments of environmental remediation costs are estimated to be approximately $2 million in 2013, $2 million in 2014, $1 million each year beginning 2015 through 2017 and $13 million in aggregate thereafter. | ||||||||
Based on information known to us, we have established reserves that we believe are adequate for these costs. Although we believe these estimates of remediation costs are reasonable and are based on the latest available information, the costs are estimates and are subject to revision as more information becomes available about the extent of remediation required. At some sites, we expect that other parties will contribute to the remediation costs. In addition, certain environmental statutes provide that our liability could be joint and several, meaning that we could be required to pay in excess of our share of remediation costs. Our understanding of the financial strength of other potentially responsible parties at these sites has been considered, where appropriate, in our determination of our estimated liability. We do not believe that any potential costs associated with our current status as a potentially responsible party in the Federal Superfund site, or as a liable party at the other locations referenced herein, will be material to our consolidated results of operations, financial position or cash flows. | ||||||||
We are also from time to time involved in legal proceedings, claims or investigations. Some of these proceedings allege damages against us relating to environmental liabilities (including toxic tort, property damage and remediation), intellectual property matters (including patent, trademark and copyright infringement, and licensing disputes), personal injury claims (including injuries due to product failure, design or warning issues, and other product liability related matters), taxes, employment matters, and commercial or contractual disputes, sometimes related to acquisitions or divestitures. For example, one of our Argentine subsidiaries is currently defending against a criminal complaint alleging the failure to comply with laws requiring the proceeds of export transactions to be collected, reported and/or converted to local currency within specified time periods. As another example, in the U.S. we are subject to an audit in 11 states with respect to the payment of unclaimed property to those states, spanning a period as far back as over 30 years. While we vigorously defend ourselves against all of these claims, in future periods, we could be subject to cash costs or charges to earnings if any of these matters are resolved on unfavorable terms. Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on current information, including our assessment of the merits of the particular claim, we do not expect that these legal proceedings or claims will have any material adverse impact on our future consolidated financial position, results of operations or cash flows. | ||||||||
In addition, we are subject to lawsuits initiated by a significant number of claimants alleging health problems as a result of exposure to asbestos. In the early 2000s we were named in nearly 20,000 complaints, most of which were filed in Mississippi state court and the vast majority of which made no allegations of exposure to asbestos from our product categories. Most of these claims have been dismissed and our current docket of active and inactive cases is less than 500 cases nationwide. A small number of claims have been asserted by railroad workers alleging exposure to asbestos products in railroad cars manufactured by The Pullman Company, one of our subsidiaries. The substantial majority of the remaining claims are related to alleged exposure to asbestos in our automotive products. Only a small percentage of the claimants allege that they were automobile mechanics and a significant number appear to involve workers in other industries or otherwise do not include sufficient information to determine whether there is any basis for a claim against us. We believe, based on scientific and other evidence, it is unlikely that mechanics were exposed to asbestos by our former products and that, in any event, they would not be at increased risk of asbestos-related disease based on their work with these products. Further, many of these cases involve numerous defendants, with the number in some cases exceeding 100 defendants from a variety of industries. Additionally, the plaintiffs either do not specify any, or specify the jurisdictional minimum, dollar amount for damages. As major asbestos manufacturers and/or users continue to go out of business or file for bankruptcy, we may experience an increased number of these claims. We vigorously defend ourselves against these claims as part of our ordinary course of business. In future periods, we could be subject to cash costs or charges to earnings if any of these matters are resolved unfavorably to us. To date, with respect to claims that have proceeded sufficiently through the judicial process, we have regularly achieved favorable resolutions. Accordingly, we presently believe that these asbestos-related claims will not have a material adverse impact on our future consolidated financial condition, results of operations or cash flows. | ||||||||
We provide warranties on some of our products. The warranty terms vary but range from one year up to limited lifetime warranties on some of our premium aftermarket products. Provisions for estimated expenses related to product warranty are made at the time products are sold or when specific warranty issues are identified on OE products. These estimates are established using historical information about the nature, frequency, and average cost of warranty claims. We actively study trends of our warranty claims and take action to improve product quality and minimize warranty claims. We believe that the warranty reserve is appropriate; however, actual claims incurred could differ from the original estimates, requiring adjustments to the reserve. The reserve is included in both current and long-term liabilities on the balance sheet. | ||||||||
Below is a table that shows the activity in the warranty accrual accounts: | ||||||||
Nine Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
(Millions) | ||||||||
Beginning Balance January 1, | $ | 23 | $ | 26 | ||||
Accruals related to product warranties | 12 | 10 | ||||||
Reductions for payments made | (13 | ) | (13 | ) | ||||
Ending Balance September 30, | $ | 22 | $ | 23 | ||||
In the fourth quarter of 2011, we encountered an issue in our North America OE ride control business involving struts supplied on one particular OE platform. As a result, we directly incurred approximately $2 million in premium freight and overtime costs in the fourth quarter of 2011 and $3 million in 2012. In the first quarter of 2013 we incurred a charge of $2 million in connection with the resolution of all existing claims pertaining to this matter. We paid the customer the $2 million in the second quarter of 2013. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
Earnings per share of common stock outstanding were computed as follows: | ||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||
(Millions Except Share and Per Share Amounts) | ||||||||||||||||
Basic earnings per share — | ||||||||||||||||
Net income attributable to Tenneco Inc. | $ | 12 | $ | 125 | $ | 129 | $ | 242 | ||||||||
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 | ||||||||||||
Earnings per share of common stock | $ | 0.19 | $ | 2.09 | $ | 2.13 | $ | 4.04 | ||||||||
Diluted earnings per share — | ||||||||||||||||
Net income attributable to Tenneco Inc. | $ | 12 | $ | 125 | $ | 129 | $ | 242 | ||||||||
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Restricted stock | 220,132 | 120,169 | 182,378 | 132,755 | ||||||||||||
Stock options | 1,020,885 | 1,063,366 | 925,599 | 1,150,059 | ||||||||||||
Weighted Average shares of common stock outstanding including dilutive securities | 61,865,375 | 60,949,632 | 61,583,629 | 61,266,124 | ||||||||||||
Earnings per share of common stock | $ | 0.19 | $ | 2.05 | $ | 2.09 | $ | 3.95 | ||||||||
Options to purchase 516,957 and 521,249 shares of common stock were outstanding as of September 30, 2013 and 2012, respectively, but not included in the computation of diluted earnings per share respectively, because the options were anti-dilutive. |
Common_Stock
Common Stock | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Common Stock | ' | ||||||||||||
Common Stock | |||||||||||||
Equity Plans — We have granted a variety of awards, including common stock, restricted stock, restricted stock units, performance units, stock appreciation rights (“SARs”), and stock options to our directors, officers, and employees. | |||||||||||||
Accounting Methods — We have recorded $1 million in compensation expense in each of the three month periods ended September 30, 2013 and 2012 and $4 million in compensation expense for each of the nine month periods ended September 30, 2013 and 2012, related to nonqualified stock options as part of our selling, general and administrative expense. This resulted in a decrease of $0.02 in both basic and diluted earnings per share for the three month periods ended September 30, 2013 and 2012 and a decrease of $0.07 in both basic and diluted earnings per share for the nine month periods ended September 30, 2013 and 2012. | |||||||||||||
For employees eligible to retire at the grant date, we immediately expense stock options and restricted stock. If employees become eligible to retire during the vesting period, we immediately recognize any remaining expense associated with their stock options and restricted stock. | |||||||||||||
As of September 30, 2013, there was approximately $7 million of unrecognized compensation costs related to our stock option awards that we expect to recognize over a weighted average period of 1.4 years. | |||||||||||||
Compensation expense for restricted stock, restricted stock units, long-term performance units and SARs was $4 million and $3 million for the three months ended September 30, 2013 and 2012, respectively, and $14 million and $11 million for the nine months ended September 30, 2013 and 2012 respectively, and was recorded in selling, general, and administrative expense in our condensed consolidated statements of income. | |||||||||||||
Cash received from stock option exercises for the nine months ended September 30, 2013 and 2012 was $13 million and $3 million, respectively. Stock option exercises in the first nine months of 2013 and 2012 would have generated an excess tax benefit of $4 million and $1 million, respectively. In September 2013 we also recorded a tax benefit of $17 million related to the historic tax benefit on stock options because we have begun utilizing our federal and state net operating losses. | |||||||||||||
Assumptions — We calculated the fair values of stock option awards using the Black-Scholes option pricing model with the weighted average assumptions listed below. The fair value of share-based awards is determined at the time the awards are granted which is generally in January of each year, and requires judgment in estimating employee and market behavior. | |||||||||||||
Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Stock Options Granted | |||||||||||||
Weighted average grant date fair value, per share | $ | 19.84 | $ | 17.35 | |||||||||
Weighted average assumptions used: | |||||||||||||
Expected volatility | 66.4 | % | 73.5 | % | |||||||||
Expected lives | 4.9 | 4.7 | |||||||||||
Risk-free interest rates | 0.7 | % | 0.8 | % | |||||||||
Dividend yields | — | % | — | % | |||||||||
Expected volatility is calculated based on current implied volatility and historical realized volatility for the Company. | |||||||||||||
Expected lives of options are based upon the historical and expected time to post-vesting forfeiture and exercise. We believe this method is the best estimate of the future exercise patterns currently available. | |||||||||||||
The risk-free interest rates are based upon the Constant Maturity Rates provided by the U.S. Treasury. For our valuations, we used the continuous rate with a term equal to the expected life of the options. | |||||||||||||
Stock Options — The following table reflects the status and activity for all options to purchase common stock for the period indicated: | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Shares | Weighted Avg. | Weighted Avg. | Aggregate | ||||||||||
Under | Exercise | Remaining | Intrinsic | ||||||||||
Option | Prices | Life in Years | Value | ||||||||||
(Millions) | |||||||||||||
Outstanding Stock Options | |||||||||||||
Outstanding, January 1, 2013 | 2,447,475 | $ | 20.14 | 4.1 | $ | 29 | |||||||
Granted | 311,539 | 36.29 | |||||||||||
Canceled | (7,225 | ) | 11.73 | ||||||||||
Forfeited | (14,920 | ) | 14.59 | ||||||||||
Exercised | (82,622 | ) | 19.96 | 1 | |||||||||
Outstanding, March 31, 2013 | 2,654,247 | $ | 22.12 | 4.3 | $ | 41 | |||||||
Granted | 388 | 38.9 | |||||||||||
Forfeited | (450 | ) | 21.81 | ||||||||||
Exercised | (393,442 | ) | 22.53 | 7 | |||||||||
Outstanding, June 30, 2013 | 2,260,743 | $ | 22.06 | 4.7 | $ | 44 | |||||||
Granted | 1,182 | 35.41 | |||||||||||
Forfeited | (283 | ) | 8.68 | ||||||||||
Exercised | (147,753 | ) | 15.42 | ||||||||||
Outstanding, September 30, 2013 | 2,113,889 | $ | 22.52 | 4.6 | $ | 56 | |||||||
The weighted average grant-date fair value of options granted during the nine months ended September 30, 2013 and 2012 was $19.86 and $17.49, respectively. The total fair value of shares vested was $5 million and $4 million for the periods ended September 30, 2013 and 2012, respectively. | |||||||||||||
Restricted Stock — The following table reflects the status for all nonvested restricted shares for the period indicated: | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Shares | Weighted Avg. | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested Restricted Shares | |||||||||||||
Nonvested balance at January 1, 2013 | 348,918 | $ | 31.69 | ||||||||||
Granted | 204,731 | 36.28 | |||||||||||
Vested | (154,160 | ) | 29.54 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at March 31, 2013 | 399,489 | $ | 34.88 | ||||||||||
Granted | 226 | 38.9 | |||||||||||
Vested | (15,289 | ) | 35.4 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at June 30, 2013 | 384,426 | $ | 34.86 | ||||||||||
Granted | 2,223 | 46.91 | |||||||||||
Vested | (16,255 | ) | 35.58 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at September 30, 2013 | 370,394 | $ | 34.9 | ||||||||||
The fair value of restricted stock grants is equal to the average of the high and low trading price of our stock on the date of grant. As of September 30, 2013, approximately $7 million of total unrecognized compensation costs related to restricted stock awards is expected to be recognized over a weighted-average period of approximately 1.8 years. The total fair value of restricted shares vested was $6 million and $5 million at September 30, 2013 and 2012, respectively. | |||||||||||||
In January 2013, our Board of Directors approved a share repurchase program, authorizing us to repurchase up to 550,000 shares of Tenneco’s outstanding common stock over a 12 month period. This share repurchase program is intended to offset dilution from shares of restricted stock and stock options issued in 2013 to employees. We purchased 45,000 shares during the second quarter of 2013, which were funded through cash from operations at a total cost of $2 million and an average price of $44.56 per share. During the third quarter of 2013, we purchased 374,900 shares, which were funded through cash from operations at a total cost of $18 million and an average price of $48.89 per share. These repurchased shares are held as part of our treasury stock which increased to 2,714,592 shares at September 30, 2013 from 2,294,692 shares at December 31, 2012. | |||||||||||||
Long-Term Performance Units, Restricted Stock Units and SARs — Long-term performance units, restricted stock units and SARs are paid in cash and recognized as a liability based upon their fair value. As of September 30, 2013, $16 million of total unrecognized compensation costs is expected to be recognized over a weighted-average period of approximately 1.9 years. |
Pension_Plans_Postretirement_a
Pension Plans, Postretirement and Other Employee Benefits | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Pension Plans, Postretirement and Other Employee Benefits | ' | |||||||||||||||||||||||
ion Plans, Postretirement and Other Employee Benefits | ||||||||||||||||||||||||
Net periodic pension costs and postretirement benefit costs consist of the following components: | ||||||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
US | Foreign | US | Foreign | US | US | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Service cost — benefits earned during the period | $ | — | $ | 1 | $ | 1 | $ | 1 | $ | — | $ | — | ||||||||||||
Interest cost | 5 | 5 | 5 | 5 | 1 | 2 | ||||||||||||||||||
Expected return on plan assets | (6 | ) | (5 | ) | (5 | ) | (4 | ) | — | — | ||||||||||||||
Net amortization: | ||||||||||||||||||||||||
Actuarial loss | 3 | 2 | 1 | 2 | 2 | 1 | ||||||||||||||||||
Prior service cost (credit) | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||
Net pension and postretirement costs | $ | 2 | $ | 3 | $ | 2 | $ | 4 | $ | 1 | $ | 1 | ||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
US | Foreign | US | Foreign | US | US | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Service cost — benefits earned during the period | $ | 1 | $ | 6 | $ | 1 | $ | 5 | $ | — | $ | — | ||||||||||||
Interest cost | 14 | 13 | 15 | 14 | 4 | 5 | ||||||||||||||||||
Expected return on plan assets | (17 | ) | (15 | ) | (16 | ) | (15 | ) | — | — | ||||||||||||||
Net amortization: | ||||||||||||||||||||||||
Actuarial loss | 8 | 8 | 5 | 6 | 4 | 4 | ||||||||||||||||||
Prior service cost (credit) | — | 1 | — | 1 | (5 | ) | (5 | ) | ||||||||||||||||
Net pension and postretirement costs | $ | 6 | $ | 13 | $ | 5 | $ | 11 | $ | 3 | $ | 4 | ||||||||||||
For the nine months ended September 30, 2013, we made pension contributions of $24 million and $20 million for our domestic and foreign pension plans, respectively. Based on current actuarial estimates, we believe we will be required to contribute approximately $15 million for the remainder of 2013. Pension contributions beyond 2013 will be required, but those amounts will vary based upon many factors including, for example, the performance of our pension fund investments during 2013. | ||||||||||||||||||||||||
We made postretirement contributions of approximately $5 million during the first nine months of 2013. Based on current actuarial estimates, we believe we will be required to contribute approximately $4 million for the remainder of 2013. | ||||||||||||||||||||||||
The assets of some of our pension plans are invested in trusts that permit commingling of the assets of more than one employee benefit plan for investment and administrative purposes. Each of the plans participating in the trust has interests in the net assets of the underlying investment pools of the trusts. The investments for all our pension plans are recorded at estimated fair value, in compliance with the accounting guidance on fair value measurement. | ||||||||||||||||||||||||
Amounts recognized for pension and postretirement benefits in other comprehensive income for the three and nine month periods ended September 30, 2013 and 2012 include the following components: | ||||||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before-Tax | Tax | Net-of-Tax | Before- | Tax | Net-of-Tax | |||||||||||||||||||
Amount | Benefit | Amount | Tax | Benefit | Amount | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Defined benefit pension and postretirement plans: | ||||||||||||||||||||||||
Amortization of prior service cost included in net periodic pension and postretirement cost | $ | (2 | ) | $ | — | $ | (2 | ) | $ | (2 | ) | $ | — | $ | (2 | ) | ||||||||
Amortization of actuarial loss included in net periodic pension and postretirement cost | 7 | (2 | ) | 5 | 4 | 1 | 5 | |||||||||||||||||
Other comprehensive income – pension benefits | $ | 5 | $ | (2 | ) | $ | 3 | $ | 2 | $ | 1 | $ | 3 | |||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before-Tax | Tax | Net-of-Tax | Before- | Tax | Net-of-Tax | |||||||||||||||||||
Amount | Benefit | Amount | Tax | Benefit | Amount | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Defined benefit pension and postretirement plans: | ||||||||||||||||||||||||
Amortization of prior service cost included in net periodic pension and postretirement cost | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (4 | ) | $ | — | $ | (4 | ) | ||||||||
Amortization of actuarial loss included in net periodic pension and postretirement cost | 21 | (4 | ) | 17 | 15 | — | 15 | |||||||||||||||||
Other comprehensive income – pension benefits | $ | 17 | $ | (4 | ) | $ | 13 | $ | 11 | $ | — | $ | 11 | |||||||||||
Effective January 1, 2012, the Tenneco Employee Stock Ownership Plan for Hourly Employees and the Tenneco Employee Stock Ownership Plan for Salaried Employees were merged into one plan called the Tenneco 401(k) Retirement Savings Plan (the “Retirement Savings Plan”). The Retirement Savings Plan has been designed to adopt a Safe-Harbor approach approved by the Internal Revenue Service and which will provide for increased company matching contributions at lower percentages of employee deferrals. The company matching contribution has changed from 50 percent on the first eight percent of employee contributions to 100 percent on the first three percent and 50 percent on the next two percent of employee contributions effective January 1, 2012. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued an amendment to provide explicit guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or tax credit carryforward exists. The objective of the amendment is to eliminate the diversity in practice in the presentation of unrecognized tax benefits in those instances. This amendment is effective for reporting periods beginning after December 15, 2013. We will adopt this amendment on January 1, 2014. Adoption of the amendment is not expected to have a material impact on our consolidated financial statements. | |
In April 2013, the FASB issued an amendment to clarify when an entity should apply the liquidation basis of accounting and to provide principles for the measurement of assets and liabilities under the liquidation basis of accounting, as well as any required disclosures. The amendment applies to all entities that issue financial statements that are presented in conformity with U.S. GAAP except investment companies that are regulated under the Investment Company Act of 1940. This amendment is effective for reporting periods beginning after December 15, 2013. Adoption of the amendment will not have any impact on our consolidated financial statements. | |
In February 2013, the FASB issued an amendment to resolve the diversity in practice about whether Subtopic 810-10, Consolidation-Overall, or Subtopic 830-30, Foreign Currency Matters-Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part of all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business (other than a sale of in substance real state or conveyance of oil and gas mineral rights) within a foreign entity. In addition, the amendments resolve the diversity in practice for the treatment of business combinations achieved in stages (sometimes also referred to as step acquisitions) involving a foreign entity. This amendment is effective for reporting periods beginning after December 15, 2013. Adoption of the amendment will not have any impact on our consolidated financial statements. | |
In February 2013, the FASB issued an amendment to the accounting guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. The guidance requires an entity to measure those obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement amount its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in this amendment also requires an entity to disclose the nature and amount of the obligation as well as other information about those obligations. This amendment is effective for reporting periods beginning after December 15, 2013. Adoption of the amendment will not have any impact on our consolidated financial statements. | |
In February 2013, the FASB issued an amendment to the accounting guidance to improve the transparency of reporting amounts reclassified out of other comprehensive income. Other comprehensive income (loss) includes gains and losses that are initially excluded from net income for an accounting period. Those gains and losses are later reclassified out of accumulated other comprehensive income into net income. This amendment does not change the current requirements for reporting net income or other comprehensive income in the financial statements. All of the information that this amendment requires already is required to be disclosed elsewhere in the financial statements under U.S. GAAP. This new amendment requires presentation either on the face of the statement where net income is presented or in the notes, the effects of significant amounts reclassified out of accumulated other comprehensive income, and that the reclassified amounts be cross-referenced to the other disclosures required under U.S. GAAP. This amendment was effective for reporting periods beginning after December 15, 2012. This amendment has not had a material impact on our condensed consolidated financial statements. | |
In December 2011, the FASB issued an amendment relating to the disclosure about offsetting assets and liabilities. This amendment requires disclosure to provide information to help reconcile differences in the offsetting requirements under U.S. GAAP and International Financial Reporting Standards ("IFRS"). A reporting entity will be required to disclose (1) the gross amount of recognized assets and liabilities, (2) the amounts offset to determine the net amounts presented in the statement of financial position, (3) the net amounts presented in the statement of financial position, (4) the amounts subject to an enforceable master netting arrangement or similar agreement not otherwise included in (2), and (5) the net amount after deducting the amounts in (4) and (3). This amendment was effective for a reporting entity’s interim and annual periods beginning on or after January 1, 2013. Following issuance of this amendment, considerable concerns were raised regarding the broad scope of this amendment. In response to the concerns, in January, 2013, the FASB issued a new amendment revising the scope of the disclosure requirements to apply only to derivatives, repurchase agreements and reverse repurchase agreements, and security borrowing and lending transactions subject to a master netting arrangement or similar agreement. As a result of this new amendment the disclosure about offsetting assets and liabilities did not have any impact to our consolidated financial statements. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||||||||||
Segment Information | ||||||||||||||||||||||||||||||||||||
In connection with the organizational changes announced on February 14, 2013 that aligned our businesses along product lines, effective with the first quarter of 2013, our three prior geographic reportable segments have each been split into two product segments. Beginning with the first quarter of 2013, we are managed and organized along our two major product lines (emission control and ride control) and three geographic areas (North America; Europe, South America and India; and Asia Pacific), resulting in six operating segments (North America Clean Air, North America Ride Performance, Europe, South America and India Clean Air, Europe, South America and India Ride Performance, Asia Pacific Clean Air and Asia Pacific Ride Performance). Within each geographical area, each operating segment manufactures and distributes either ride control or emission control products primarily for the original equipment and aftermarket industries. Each of the six operating segments constitutes a reportable segment. Costs related to other business activities, primarily corporate headquarter functions, are disclosed separately from the six operating segments as "Other." We evaluate segment performance based primarily on earnings before interest expense, income taxes, and noncontrolling interests. Products are transferred between segments and geographic areas on a basis intended to reflect as nearly as possible the “market value” of the products. Prior period segment information has been revised to reflect our new reporting segments. | ||||||||||||||||||||||||||||||||||||
The following table summarizes certain Tenneco Inc. segment information: | ||||||||||||||||||||||||||||||||||||
Clean Air Division | Ride Performance Division | |||||||||||||||||||||||||||||||||||
North | Europe, South America & India | Asia | North | Europe, South America & India | Asia | Other | Reclass & Elims | Total | ||||||||||||||||||||||||||||
America | Pacific | America | Pacific | |||||||||||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||||||||||||||
At September 30, 2013 and for the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | 648 | $ | 470 | $ | 210 | $ | 321 | $ | 258 | $ | 56 | $ | — | $ | — | $ | 1,963 | ||||||||||||||||||
Intersegment revenues | 2 | 29 | — | 3 | 10 | 8 | — | (52 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 57 | 16 | 22 | 33 | (40 | ) | 5 | (21 | ) | — | 72 | |||||||||||||||||||||||||
Total assets | 1,133 | 912 | 515 | 696 | 584 | 213 | — | 46 | 4,099 | |||||||||||||||||||||||||||
At September 30, 2012 and for the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | 592 | 414 | 179 | 299 | 245 | 49 | — | — | 1,778 | |||||||||||||||||||||||||||
Intersegment revenues | 1 | 21 | — | 3 | 11 | 7 | — | (43 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 48 | 7 | 20 | 35 | 10 | 3 | (12 | ) | — | 111 | ||||||||||||||||||||||||||
Total assets | 1,069 | 820 | 401 | 617 | 582 | 202 | — | 11 | 3,702 | |||||||||||||||||||||||||||
At September 30, 2013 and for the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | 1,981 | $ | 1,453 | $ | 596 | $ | 952 | $ | 791 | $ | 160 | $ | — | $ | — | $ | 5,933 | ||||||||||||||||||
Intersegment revenues | 4 | 86 | — | 8 | 31 | 23 | — | (152 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 174 | 45 | 58 | 94 | (16 | ) | 15 | (64 | ) | — | 306 | |||||||||||||||||||||||||
Total assets | 1,133 | 912 | 515 | 696 | 584 | 213 | — | 46 | 4,099 | |||||||||||||||||||||||||||
At September 30, 2012 and for the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | 1,932 | 1,308 | 504 | 941 | 793 | 132 | — | — | 5,610 | |||||||||||||||||||||||||||
Intersegment revenues | 6 | 80 | — | 8 | 39 | 23 | — | (156 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 153 | 43 | 50 | 107 | 36 | 3 | (48 | ) | — | 344 | ||||||||||||||||||||||||||
Total assets | 1,069 | 820 | 401 | 617 | 582 | 202 | — | 11 | 3,702 | |||||||||||||||||||||||||||
Supplemental_Guarantor_Condens
Supplemental Guarantor Condensed Consolidating Financial Statements | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Statements | ' | |||||||||||||||||||
Supplemental Guarantor Condensed Consolidating Financial Statements | ||||||||||||||||||||
Basis of Presentation | ||||||||||||||||||||
Substantially all of our existing and future material domestic 100% owned subsidiaries (which are referred to as the Guarantor Subsidiaries) fully and unconditionally guarantee our senior notes due in 2018 and 2020 on a joint and several basis. However, a subsidiary’s guarantee may be released in certain customary circumstances such as a sale of the subsidiary or all or substantially all of its assets in accordance with the indenture applicable to the notes. The Guarantor Subsidiaries are combined in the presentation below. | ||||||||||||||||||||
These consolidating financial statements are presented on the equity method. Under this method, our investments are recorded at cost and adjusted for our ownership share of a subsidiary’s cumulative results of operations, capital contributions and distributions, and other equity changes. You should read the condensed consolidating financial information of the Guarantor Subsidiaries in connection with our condensed consolidated financial statements and related notes of which this note is an integral part. | ||||||||||||||||||||
Distributions | ||||||||||||||||||||
There are no significant restrictions on the ability of the Guarantor Subsidiaries to make distributions to us. | ||||||||||||||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 864 | $ | 1,099 | $ | — | $ | — | $ | 1,963 | ||||||||||
Affiliated companies | 89 | 139 | — | (228 | ) | — | ||||||||||||||
953 | 1,238 | — | (228 | ) | 1,963 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 827 | 1,093 | — | (229 | ) | 1,691 | ||||||||||||||
Engineering, research, and development | 16 | 19 | — | — | 35 | |||||||||||||||
Selling, general, and administrative | 42 | 68 | 2 | — | 112 | |||||||||||||||
Depreciation and amortization of other intangibles | 20 | 31 | — | — | 51 | |||||||||||||||
905 | 1,211 | 2 | (229 | ) | 1,889 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Other income (loss) | 6 | 2 | — | (9 | ) | (1 | ) | |||||||||||||
6 | 1 | — | (9 | ) | (2 | ) | ||||||||||||||
Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 54 | 28 | (2 | ) | (8 | ) | 72 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 1 | 19 | — | 20 | |||||||||||||||
Affiliated companies (net of interest income) | 17 | (17 | ) | — | — | — | ||||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 37 | 44 | (21 | ) | (8 | ) | 52 | |||||||||||||
Income tax (benefit) expense | (12 | ) | 42 | 30 | ||||||||||||||||
Equity in net income (loss) from affiliated companies | (10 | ) | — | 33 | (23 | ) | — | |||||||||||||
Net Income | 39 | 2 | 12 | (31 | ) | 22 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 10 | — | — | 10 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 39 | $ | (8 | ) | $ | 12 | $ | (31 | ) | $ | 12 | ||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 50 | $ | 7 | $ | 12 | $ | (31 | ) | $ | 38 | |||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 792 | $ | 986 | $ | — | $ | — | $ | 1,778 | ||||||||||
Affiliated companies | 43 | 123 | — | (166 | ) | — | ||||||||||||||
835 | 1,109 | — | (166 | ) | 1,778 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 771 | 889 | — | (166 | ) | 1,494 | ||||||||||||||
Engineering, research, and development | 14 | 14 | — | — | 28 | |||||||||||||||
Selling, general, and administrative | 26 | 67 | 1 | — | 94 | |||||||||||||||
Depreciation and amortization of other intangibles | 18 | 31 | — | — | 49 | |||||||||||||||
829 | 1,001 | 1 | (166 | ) | 1,665 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Other income (expense) | 13 | (11 | ) | — | (3 | ) | (1 | ) | ||||||||||||
13 | (12 | ) | — | (3 | ) | (2 | ) | |||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 19 | 96 | (1 | ) | (3 | ) | 111 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 1 | 20 | — | 21 | |||||||||||||||
Affiliated companies (net of interest income) | 57 | (21 | ) | (36 | ) | — | — | |||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | (38 | ) | 116 | 15 | (3 | ) | 90 | |||||||||||||
Income tax (benefit) expense | (77 | ) | 35 | — | — | (42 | ) | |||||||||||||
Equity in net income (loss) from affiliated companies | 73 | — | 110 | (183 | ) | — | ||||||||||||||
Net income (loss) | 112 | 81 | 125 | (186 | ) | 132 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 7 | — | — | 7 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 112 | $ | 74 | $ | 125 | $ | (186 | ) | $ | 125 | |||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 117 | $ | 86 | $ | 125 | $ | (186 | ) | $ | 142 | |||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 2,620 | $ | 3,313 | $ | — | $ | — | $ | 5,933 | ||||||||||
Affiliated companies | 260 | 430 | — | (690 | ) | — | ||||||||||||||
2,880 | 3,743 | — | (690 | ) | 5,933 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 2,345 | 3,376 | — | (690 | ) | 5,031 | ||||||||||||||
Goodwill impairment charge | — | — | — | — | — | |||||||||||||||
Engineering, research, and development | 45 | 58 | — | — | 103 | |||||||||||||||
Selling, general, and administrative | 140 | 192 | 5 | — | 337 | |||||||||||||||
Depreciation and amortization of other intangibles | 58 | 93 | — | — | 151 | |||||||||||||||
2,588 | 3,719 | 5 | (690 | ) | 5,622 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Other income (expense) | 39 | 7 | — | (48 | ) | (2 | ) | |||||||||||||
39 | 4 | — | (48 | ) | (5 | ) | ||||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 331 | 28 | (5 | ) | (48 | ) | 306 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | (1 | ) | 3 | 58 | 60 | |||||||||||||||
Affiliated companies (net of interest income) | 53 | (54 | ) | 1 | — | — | ||||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 279 | 79 | (64 | ) | (48 | ) | 246 | |||||||||||||
Income tax expense | 34 | 55 | — | — | 89 | |||||||||||||||
Equity in net income (loss) from affiliated companies | (13 | ) | — | 193 | (180 | ) | — | |||||||||||||
Net income (loss) | 232 | 24 | 129 | (228 | ) | 157 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 28 | — | — | 28 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 232 | $ | (4 | ) | $ | 129 | $ | (228 | ) | $ | 129 | ||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 243 | $ | (29 | ) | $ | 129 | $ | (228 | ) | $ | 115 | ||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 2,579 | $ | 3,031 | $ | — | $ | — | $ | 5,610 | ||||||||||
Affiliated companies | 139 | 420 | — | (559 | ) | — | ||||||||||||||
2,718 | 3,451 | — | (559 | ) | 5,610 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 2,389 | 2,866 | — | (559 | ) | 4,696 | ||||||||||||||
Goodwill impairment charge | — | — | — | — | — | |||||||||||||||
Engineering, research, and development | 42 | 52 | — | — | 94 | |||||||||||||||
Selling, general, and administrative | 103 | 214 | 4 | — | 321 | |||||||||||||||
Depreciation and amortization of other intangibles | 54 | 94 | — | — | 148 | |||||||||||||||
2,588 | 3,226 | 4 | (559 | ) | 5,259 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Other income (expense) | 59 | (21 | ) | — | (42 | ) | (4 | ) | ||||||||||||
59 | (24 | ) | — | (42 | ) | (7 | ) | |||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 189 | 201 | (4 | ) | (42 | ) | 344 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 3 | 81 | — | 84 | |||||||||||||||
Affiliated companies (net of interest income) | 169 | (63 | ) | (106 | ) | — | — | |||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 20 | 261 | 21 | (42 | ) | 260 | ||||||||||||||
Income (benefit) tax expense | (70 | ) | 67 | — | — | (3 | ) | |||||||||||||
Equity in net income (loss) from affiliated companies | 170 | — | 221 | (391 | ) | — | ||||||||||||||
Net income (loss) | 260 | 194 | 242 | (433 | ) | 263 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 21 | — | — | 21 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 260 | $ | 173 | $ | 242 | $ | (433 | ) | $ | 242 | |||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 262 | $ | 179 | $ | 242 | $ | (433 | ) | $ | 250 | |||||||||
BALANCE SHEET | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Restricted cash | — | 5 | — | — | 5 | |||||||||||||||
Receivables, net | 451 | 1,223 | 16 | (435 | ) | 1,255 | ||||||||||||||
Inventories | 288 | 411 | — | — | 699 | |||||||||||||||
Deferred income taxes | 91 | — | 6 | (21 | ) | 76 | ||||||||||||||
Prepayments and other | 39 | 229 | — | — | 268 | |||||||||||||||
Total current assets | 872 | 2,141 | 22 | (456 | ) | 2,579 | ||||||||||||||
Other assets: | ||||||||||||||||||||
Investment in affiliated companies | 629 | — | 889 | (1,518 | ) | — | ||||||||||||||
Notes and advances receivable from affiliates | 971 | 6,535 | 4,760 | (12,266 | ) | — | ||||||||||||||
Long-term receivables, net | 6 | 2 | — | — | 8 | |||||||||||||||
Goodwill | 22 | 48 | — | — | 70 | |||||||||||||||
Intangibles, net | 14 | 17 | — | — | 31 | |||||||||||||||
Deferred income taxes | 112 | 10 | 36 | — | 158 | |||||||||||||||
Other | 47 | 48 | 25 | — | 120 | |||||||||||||||
1,801 | 6,660 | 5,710 | (13,784 | ) | 387 | |||||||||||||||
Plant, property, and equipment, at cost | 1,145 | 2,278 | — | — | 3,423 | |||||||||||||||
Less — Accumulated depreciation and amortization | (792 | ) | (1,498 | ) | — | — | (2,290 | ) | ||||||||||||
353 | 780 | — | — | 1,133 | ||||||||||||||||
Total assets | $ | 3,026 | $ | 9,581 | $ | 5,732 | $ | (14,240 | ) | $ | 4,099 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Short-term debt (including current maturities of long-term debt) | ||||||||||||||||||||
Short-term debt — non-affiliated | $ | — | $ | 131 | $ | — | $ | — | $ | 131 | ||||||||||
Short-term debt — affiliated | 50 | 206 | 10 | (266 | ) | — | ||||||||||||||
Trade payables | 468 | 948 | — | (128 | ) | 1,288 | ||||||||||||||
Accrued taxes | 14 | 31 | — | — | 45 | |||||||||||||||
Other | 136 | 300 | 14 | (62 | ) | 388 | ||||||||||||||
Total current liabilities | 668 | 1,616 | 24 | (456 | ) | 1,852 | ||||||||||||||
Long-term debt — non-affiliated | — | 8 | 1,218 | — | 1,226 | |||||||||||||||
Long-term debt — affiliated | 1,620 | 6,580 | 4,066 | (12,266 | ) | — | ||||||||||||||
Deferred income taxes | — | 25 | — | — | 25 | |||||||||||||||
Postretirement benefits and other liabilities | 458 | 95 | — | 4 | 557 | |||||||||||||||
Commitments and contingencies | ||||||||||||||||||||
Total liabilities | 2,746 | 8,324 | 5,308 | (12,718 | ) | 3,660 | ||||||||||||||
Redeemable noncontrolling interests | — | 15 | — | — | 15 | |||||||||||||||
Tenneco Inc. shareholders’ equity | 280 | 1,198 | 424 | (1,522 | ) | 380 | ||||||||||||||
Noncontrolling interests | — | 44 | — | — | 44 | |||||||||||||||
Total equity | 280 | 1,242 | 424 | (1,522 | ) | 424 | ||||||||||||||
Total liabilities, redeemable noncontrolling interests and equity | $ | 3,026 | $ | 9,581 | $ | 5,732 | $ | (14,240 | ) | $ | 4,099 | |||||||||
BALANCE SHEET | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 4 | $ | 219 | $ | — | $ | — | $ | 223 | ||||||||||
Receivables, net | 341 | 1,268 | 30 | (653 | ) | 986 | ||||||||||||||
Inventories | 278 | 389 | — | — | 667 | |||||||||||||||
Deferred income taxes | 91 | — | 6 | (25 | ) | 72 | ||||||||||||||
Prepayments and other | 28 | 148 | — | — | 176 | |||||||||||||||
Total current assets | 742 | 2,024 | 36 | (678 | ) | 2,124 | ||||||||||||||
Other assets: | ||||||||||||||||||||
Investment in affiliated companies | 551 | — | 717 | (1,268 | ) | — | ||||||||||||||
Notes and advances receivable from affiliates | 957 | 4,495 | 4,594 | (10,046 | ) | — | ||||||||||||||
Long-term receivables, net | 2 | 2 | — | — | 4 | |||||||||||||||
Goodwill | 21 | 51 | — | — | 72 | |||||||||||||||
Intangibles, net | 18 | 17 | — | — | 35 | |||||||||||||||
Deferred income taxes | 55 | 1 | 60 | — | 116 | |||||||||||||||
Other | 31 | 75 | 29 | — | 135 | |||||||||||||||
1,635 | 4,641 | 5,400 | (11,314 | ) | 362 | |||||||||||||||
Plant, property, and equipment, at cost | 1,098 | 2,267 | — | — | 3,365 | |||||||||||||||
Less — Accumulated depreciation and amortization | (763 | ) | (1,480 | ) | — | — | (2,243 | ) | ||||||||||||
335 | 787 | — | — | 1,122 | ||||||||||||||||
Total assets | $ | 2,712 | $ | 7,452 | $ | 5,436 | $ | (11,992 | ) | $ | 3,608 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Short-term debt (including current maturities of long-term debt) | ||||||||||||||||||||
Short-term debt — non-affiliated | $ | — | $ | 112 | $ | 1 | $ | — | $ | 113 | ||||||||||
Short-term debt — affiliated | 250 | 173 | 10 | (433 | ) | — | ||||||||||||||
Trade payables | 423 | 954 | — | (191 | ) | 1,186 | ||||||||||||||
Accrued taxes | 16 | 34 | — | — | 50 | |||||||||||||||
Other | 135 | 210 | 9 | (54 | ) | 300 | ||||||||||||||
Total current liabilities | 824 | 1,483 | 20 | (678 | ) | 1,649 | ||||||||||||||
Long-term debt — non-affiliated | — | 8 | 1,059 | — | 1,067 | |||||||||||||||
Long-term debt — affiliated | 1,447 | 4,533 | 4,066 | (10,046 | ) | — | ||||||||||||||
Deferred income taxes | — | 27 | — | — | 27 | |||||||||||||||
Postretirement benefits and other liabilities | 438 | 118 | — | 3 | 559 | |||||||||||||||
Commitments and contingencies | ||||||||||||||||||||
Total liabilities | 2,709 | 6,169 | 5,145 | (10,721 | ) | 3,302 | ||||||||||||||
Redeemable noncontrolling interests | — | 15 | — | — | 15 | |||||||||||||||
Tenneco Inc. shareholders’ equity | 3 | 1,223 | 291 | (1,271 | ) | 246 | ||||||||||||||
Noncontrolling interests | — | 45 | — | — | 45 | |||||||||||||||
Total equity | 3 | 1,268 | 291 | (1,271 | ) | 291 | ||||||||||||||
Total liabilities, redeemable noncontrolling interests and equity | $ | 2,712 | $ | 7,452 | $ | 5,436 | $ | (11,992 | ) | $ | 3,608 | |||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided by operating activities | $ | 21 | $ | 16 | $ | 13 | $ | — | $ | 50 | ||||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 4 | — | — | 4 | |||||||||||||||
Cash payments for plant, property, and equipment | (21 | ) | (33 | ) | — | — | (54 | ) | ||||||||||||
Cash payments for software related intangible assets | (6 | ) | (1 | ) | — | — | (7 | ) | ||||||||||||
Net cash used by investing activities | (27 | ) | (30 | ) | — | — | (57 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Issuance of common and treasury shares | — | — | 4 | — | 4 | |||||||||||||||
Tax benefit from stock-based compensation | 17 | — | — | — | 17 | |||||||||||||||
Retirement of long-term debt | — | (1 | ) | (4 | ) | — | (5 | ) | ||||||||||||
Purchase of common stock under the share repurchase program | — | — | (18 | ) | — | (18 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | (40 | ) | 2 | — | (38 | ) | ||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 12 | 72 | — | 84 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 31 | 36 | (67 | ) | — | — | ||||||||||||||
Distributions to noncontrolling interest partners | — | (6 | ) | — | — | (6 | ) | |||||||||||||
Net cash provided (used) by financing activities | 8 | 43 | (13 | ) | — | 38 | ||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 10 | — | — | 10 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 2 | 39 | — | — | 41 | |||||||||||||||
Cash and cash equivalents, July 1 | 1 | 234 | — | — | 235 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 107 | $ | 69 | $ | (51 | ) | $ | — | $ | 125 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 1 | — | — | 1 | |||||||||||||||
Cash payments for plant, property, and equipment | (32 | ) | (38 | ) | — | — | (70 | ) | ||||||||||||
Cash payments for software related intangible assets | (3 | ) | — | — | — | (3 | ) | |||||||||||||
Cash payments for net assets purchased | (7 | ) | (7 | ) | ||||||||||||||||
Net cash used by investing activities | (42 | ) | (37 | ) | — | — | (79 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Retirement of long-term debt | — | — | (3 | ) | — | (3 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | 2 | — | — | 2 | |||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt | — | (1 | ) | (18 | ) | — | (19 | ) | ||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | (61 | ) | (11 | ) | 72 | — | — | |||||||||||||
Capital contribution from noncontrolling interest partner | — | 4 | — | — | 4 | |||||||||||||||
Distributions to noncontrolling interest partners | — | (9 | ) | — | — | (9 | ) | |||||||||||||
Net cash provided (used) by financing activities | (61 | ) | (15 | ) | 51 | — | (25 | ) | ||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 5 | — | — | 5 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 4 | 22 | — | — | 26 | |||||||||||||||
Cash and cash equivalents, July 1 | — | 181 | — | — | 181 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 4 | $ | 203 | $ | — | $ | — | $ | 207 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 6 | $ | 104 | $ | (19 | ) | $ | — | $ | 91 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | 1 | 5 | — | — | 6 | |||||||||||||||
Cash payments for plant, property, and equipment | (76 | ) | (102 | ) | — | — | (178 | ) | ||||||||||||
Cash payments for software related intangible assets | (15 | ) | (4 | ) | — | — | (19 | ) | ||||||||||||
Changes in restricted cash | — | (5 | ) | — | — | (5 | ) | |||||||||||||
Net cash used by investing activities | (90 | ) | (106 | ) | — | — | (196 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Issuance of common and treasury shares | — | — | 17 | — | 17 | |||||||||||||||
Tax benefit from stock-based compensation | 17 | — | — | — | 17 | |||||||||||||||
Retirement of long-term debt | — | (2 | ) | (11 | ) | (13 | ) | |||||||||||||
Purchase of common stock under the share repurchase program | — | — | (20 | ) | — | (20 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 22 | 169 | — | 191 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 66 | 70 | (136 | ) | — | — | ||||||||||||||
Distributions to noncontrolling interest partners | — | (29 | ) | — | (29 | ) | ||||||||||||||
Net cash provided by financing activities | $ | 83 | $ | 58 | $ | 19 | $ | — | $ | 160 | ||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | (2 | ) | — | — | (2 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | (1 | ) | 54 | — | — | 53 | ||||||||||||||
Cash and cash equivalents, January 1 | 4 | 219 | — | — | 223 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 231 | $ | 72 | $ | (177 | ) | $ | — | $ | 126 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 2 | — | — | 2 | |||||||||||||||
Cash payments for plant, property, and equipment | (79 | ) | (116 | ) | — | — | (195 | ) | ||||||||||||
Cash payments for software related intangible assets | (5 | ) | (5 | ) | — | — | (10 | ) | ||||||||||||
Cash payments for net assets purchased | (7 | ) | — | — | — | (7 | ) | |||||||||||||
Net cash used by investing activities | (91 | ) | (119 | ) | — | — | (210 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Retirement of long-term debt | — | (1 | ) | (405 | ) | — | (406 | ) | ||||||||||||
Issuance of long-term debt | — | — | 250 | — | 250 | |||||||||||||||
Debt issuance cost of long-term debt | — | — | (13 | ) | — | (13 | ) | |||||||||||||
Purchase of common stock under the share repurchase program | — | — | (18 | ) | — | (18 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | 2 | — | — | 2 | |||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 67 | 150 | — | 217 | |||||||||||||||
Net increase (decrease) in short-term borrowings secured by accounts receivables | — | — | 60 | — | 60 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | (137 | ) | (16 | ) | 153 | — | — | |||||||||||||
Capital contribution from noncontrolling interest partners | — | 5 | — | — | 5 | |||||||||||||||
Distributions to noncontrolling interest partners | — | (27 | ) | — | — | (27 | ) | |||||||||||||
Net cash provided (used) by financing activities | (137 | ) | 30 | 177 | — | 70 | ||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 7 | — | — | 7 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 3 | (10 | ) | — | — | (7 | ) | |||||||||||||
Cash and cash equivalents, January 1 | 1 | 213 | — | — | 214 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 4 | $ | 203 | $ | — | $ | — | $ | 207 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. |
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||
Carrying and Estimated Fair Value | ' | |||||||||||||||||||||
The carrying and estimated fair values of our financial instruments by class at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Long-term debt (including current maturities) | $ | 1,227 | $ | 1,290 | $ | 1,070 | $ | 1,136 | ||||||||||||||
Instruments with off-balance sheet risk: | ||||||||||||||||||||||
Foreign exchange forward contracts: | ||||||||||||||||||||||
Asset derivative contracts | — | — | 1 | 1 | ||||||||||||||||||
Foreign Exchange Forward Contracts Fair Value on Gross Basis | ' | |||||||||||||||||||||
The fair value of our foreign exchange forward contracts, presented on a gross basis at September 30, 2013 and December 31, 2012, respectively, was as follows: | ||||||||||||||||||||||
Fair Value of Derivative Instruments | ||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | |||||||||||||||||||||
Asset | Liability | Total | Asset | Liability | Total | |||||||||||||||||
Derivatives | Derivatives | Derivatives | Derivatives | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Foreign exchange forward contracts | $— | $— | $— | $1 | $— | $1 | ||||||||||||||||
Fair Value of Financial Assets on Recurring Basis | ' | |||||||||||||||||||||
The fair value of our recurring financial assets at September 30, 2013 and December 31, 2012, respectively, are as follows: | ||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | |||||||||||||||||
(Millions) | ||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||
Foreign exchange forward contracts | n/a | $ | — | n/a | n/a | $ | 1 | n/a | ||||||||||||||
Fair Value Hierarchy | ' | |||||||||||||||||||||
The fair value hierarchy definition prioritizes the inputs used in measuring fair value into the following levels: | ||||||||||||||||||||||
Level 1 | — | Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||
Level 2 | — | Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. | ||||||||||||||||||||
Level 3 | — | Unobservable inputs based on our own assumptions. | ||||||||||||||||||||
Summarization for Foreign Currency Forward Purchase and Sale Contracts | ' | |||||||||||||||||||||
The following table summarizes by major currency the notional amounts for foreign currency forward purchase and sale contracts as of September 30, 2013 (all of which mature in 2013): | ||||||||||||||||||||||
Notional Amount | ||||||||||||||||||||||
in Foreign Currency | ||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||
Australian dollars | —Purchase | 3 | ||||||||||||||||||||
British pounds | —Purchase | 9 | ||||||||||||||||||||
European euro | —Sell | (9 | ) | |||||||||||||||||||
South African rand | —Purchase | 107 | ||||||||||||||||||||
Japanese yen | —Purchase | 98 | ||||||||||||||||||||
—Sell | (842 | ) | ||||||||||||||||||||
Mexican peso | —Purchase | 6 | ||||||||||||||||||||
Polish zloty | —Purchase | 21 | ||||||||||||||||||||
U.S. dollars | —Purchase | 13 | ||||||||||||||||||||
—Sell | (25 | ) | ||||||||||||||||||||
Other | —Sell | (2 | ) |
LongTerm_Debt_and_Financing_Ar1
Long-Term Debt and Financing Arrangements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Financial Ratios under Senior Credit Facility | ' | ||||||||||||||||
The financial ratios required under the amended and restated senior credit facility, and the actual ratios we achieved for the three quarters of 2013, are as follows: | |||||||||||||||||
Quarter Ended | |||||||||||||||||
March 31, 2013 | June 30, 2013 | September 30, 2013 | |||||||||||||||
Required | Actual | Required | Actual | Required | Actual | ||||||||||||
Leverage Ratio (maximum) | 3.5 | 1.98 | 3.5 | 1.79 | 3.5 | 1.86 | |||||||||||
Interest Coverage Ratio (minimum) | 2.55 | 8.39 | 2.55 | 8.74 | 2.55 | 9.09 | |||||||||||
Restructuring_and_Other_Charge1
Restructuring and Other Charges (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Restructuring Reserve [Abstract] | ' | |||||||||||||||
Roll Forward of Restructuring Reserve | ' | |||||||||||||||
Amounts related to activities that are part of our restructuring reserves are as follows: | ||||||||||||||||
December 31, | 2013 | 2013 | September 30, | |||||||||||||
2012 | Expenses | Cash | 2013 | |||||||||||||
Restructuring | Payments | Restructuring | ||||||||||||||
Reserve | Reserve | |||||||||||||||
(Millions) | ||||||||||||||||
Employee Severance and Termination Benefits | $— | $67 | ($14 | ) | $53 | |||||||||||
Environmental_Matters_Litigati1
Environmental Matters, Litigation and Product Warranties (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Environmental Matters, Litigation and Product Warranties [Abstract] | ' | |||||||
Warranty Accrual Rollforward | ' | |||||||
Below is a table that shows the activity in the warranty accrual accounts: | ||||||||
Nine Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
(Millions) | ||||||||
Beginning Balance January 1, | $ | 23 | $ | 26 | ||||
Accruals related to product warranties | 12 | 10 | ||||||
Reductions for payments made | (13 | ) | (13 | ) | ||||
Ending Balance September 30, | $ | 22 | $ | 23 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Summary of Earnings Per Share of Common Stock | ' | |||||||||||||||
Earnings per share of common stock outstanding were computed as follows: | ||||||||||||||||
Three Months Ended September 30, 2013 | Three Months Ended September 30, 2012 | Nine Months Ended September 30, 2013 | Nine Months Ended September 30, 2012 | |||||||||||||
(Millions Except Share and Per Share Amounts) | ||||||||||||||||
Basic earnings per share — | ||||||||||||||||
Net income attributable to Tenneco Inc. | $ | 12 | $ | 125 | $ | 129 | $ | 242 | ||||||||
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 | ||||||||||||
Earnings per share of common stock | $ | 0.19 | $ | 2.09 | $ | 2.13 | $ | 4.04 | ||||||||
Diluted earnings per share — | ||||||||||||||||
Net income attributable to Tenneco Inc. | $ | 12 | $ | 125 | $ | 129 | $ | 242 | ||||||||
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Restricted stock | 220,132 | 120,169 | 182,378 | 132,755 | ||||||||||||
Stock options | 1,020,885 | 1,063,366 | 925,599 | 1,150,059 | ||||||||||||
Weighted Average shares of common stock outstanding including dilutive securities | 61,865,375 | 60,949,632 | 61,583,629 | 61,266,124 | ||||||||||||
Earnings per share of common stock | $ | 0.19 | $ | 2.05 | $ | 2.09 | $ | 3.95 | ||||||||
Common_Stock_Tables
Common Stock (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Assumptions Used for Calculating Fair Values of Stock Option Awards | ' | ||||||||||||
The fair value of share-based awards is determined at the time the awards are granted which is generally in January of each year, and requires judgment in estimating employee and market behavior. | |||||||||||||
Nine Months Ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Stock Options Granted | |||||||||||||
Weighted average grant date fair value, per share | $ | 19.84 | $ | 17.35 | |||||||||
Weighted average assumptions used: | |||||||||||||
Expected volatility | 66.4 | % | 73.5 | % | |||||||||
Expected lives | 4.9 | 4.7 | |||||||||||
Risk-free interest rates | 0.7 | % | 0.8 | % | |||||||||
Dividend yields | — | % | — | % | |||||||||
Stock Options Status and Activity | ' | ||||||||||||
Stock Options — The following table reflects the status and activity for all options to purchase common stock for the period indicated: | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Shares | Weighted Avg. | Weighted Avg. | Aggregate | ||||||||||
Under | Exercise | Remaining | Intrinsic | ||||||||||
Option | Prices | Life in Years | Value | ||||||||||
(Millions) | |||||||||||||
Outstanding Stock Options | |||||||||||||
Outstanding, January 1, 2013 | 2,447,475 | $ | 20.14 | 4.1 | $ | 29 | |||||||
Granted | 311,539 | 36.29 | |||||||||||
Canceled | (7,225 | ) | 11.73 | ||||||||||
Forfeited | (14,920 | ) | 14.59 | ||||||||||
Exercised | (82,622 | ) | 19.96 | 1 | |||||||||
Outstanding, March 31, 2013 | 2,654,247 | $ | 22.12 | 4.3 | $ | 41 | |||||||
Granted | 388 | 38.9 | |||||||||||
Forfeited | (450 | ) | 21.81 | ||||||||||
Exercised | (393,442 | ) | 22.53 | 7 | |||||||||
Outstanding, June 30, 2013 | 2,260,743 | $ | 22.06 | 4.7 | $ | 44 | |||||||
Granted | 1,182 | 35.41 | |||||||||||
Forfeited | (283 | ) | 8.68 | ||||||||||
Exercised | (147,753 | ) | 15.42 | ||||||||||
Outstanding, September 30, 2013 | 2,113,889 | $ | 22.52 | 4.6 | $ | 56 | |||||||
Nonvested Restricted Shares | ' | ||||||||||||
Restricted Stock — The following table reflects the status for all nonvested restricted shares for the period indicated: | |||||||||||||
Nine Months Ended September 30, 2013 | |||||||||||||
Shares | Weighted Avg. | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Nonvested Restricted Shares | |||||||||||||
Nonvested balance at January 1, 2013 | 348,918 | $ | 31.69 | ||||||||||
Granted | 204,731 | 36.28 | |||||||||||
Vested | (154,160 | ) | 29.54 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at March 31, 2013 | 399,489 | $ | 34.88 | ||||||||||
Granted | 226 | 38.9 | |||||||||||
Vested | (15,289 | ) | 35.4 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at June 30, 2013 | 384,426 | $ | 34.86 | ||||||||||
Granted | 2,223 | 46.91 | |||||||||||
Vested | (16,255 | ) | 35.58 | ||||||||||
Forfeited | — | — | |||||||||||
Nonvested balance at September 30, 2013 | 370,394 | $ | 34.9 | ||||||||||
Pension_Plans_Postretirement_a1
Pension Plans, Postretirement and Other Employee Benefits (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||||||||||||
Components of Net Periodic Benefit Cost | ' | |||||||||||||||||||||||
Net periodic pension costs and postretirement benefit costs consist of the following components: | ||||||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
US | Foreign | US | Foreign | US | US | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Service cost — benefits earned during the period | $ | — | $ | 1 | $ | 1 | $ | 1 | $ | — | $ | — | ||||||||||||
Interest cost | 5 | 5 | 5 | 5 | 1 | 2 | ||||||||||||||||||
Expected return on plan assets | (6 | ) | (5 | ) | (5 | ) | (4 | ) | — | — | ||||||||||||||
Net amortization: | ||||||||||||||||||||||||
Actuarial loss | 3 | 2 | 1 | 2 | 2 | 1 | ||||||||||||||||||
Prior service cost (credit) | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||
Net pension and postretirement costs | $ | 2 | $ | 3 | $ | 2 | $ | 4 | $ | 1 | $ | 1 | ||||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||
US | Foreign | US | Foreign | US | US | |||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Service cost — benefits earned during the period | $ | 1 | $ | 6 | $ | 1 | $ | 5 | $ | — | $ | — | ||||||||||||
Interest cost | 14 | 13 | 15 | 14 | 4 | 5 | ||||||||||||||||||
Expected return on plan assets | (17 | ) | (15 | ) | (16 | ) | (15 | ) | — | — | ||||||||||||||
Net amortization: | ||||||||||||||||||||||||
Actuarial loss | 8 | 8 | 5 | 6 | 4 | 4 | ||||||||||||||||||
Prior service cost (credit) | — | 1 | — | 1 | (5 | ) | (5 | ) | ||||||||||||||||
Net pension and postretirement costs | $ | 6 | $ | 13 | $ | 5 | $ | 11 | $ | 3 | $ | 4 | ||||||||||||
For | ||||||||||||||||||||||||
Amounts Recognized for Pension and Postretirement Benefits in Other Comprehensive Income | ' | |||||||||||||||||||||||
Amounts recognized for pension and postretirement benefits in other comprehensive income for the three and nine month periods ended September 30, 2013 and 2012 include the following components: | ||||||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before-Tax | Tax | Net-of-Tax | Before- | Tax | Net-of-Tax | |||||||||||||||||||
Amount | Benefit | Amount | Tax | Benefit | Amount | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Defined benefit pension and postretirement plans: | ||||||||||||||||||||||||
Amortization of prior service cost included in net periodic pension and postretirement cost | $ | (2 | ) | $ | — | $ | (2 | ) | $ | (2 | ) | $ | — | $ | (2 | ) | ||||||||
Amortization of actuarial loss included in net periodic pension and postretirement cost | 7 | (2 | ) | 5 | 4 | 1 | 5 | |||||||||||||||||
Other comprehensive income – pension benefits | $ | 5 | $ | (2 | ) | $ | 3 | $ | 2 | $ | 1 | $ | 3 | |||||||||||
Nine Months Ended September 30, | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Before-Tax | Tax | Net-of-Tax | Before- | Tax | Net-of-Tax | |||||||||||||||||||
Amount | Benefit | Amount | Tax | Benefit | Amount | |||||||||||||||||||
Amount | ||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||
Defined benefit pension and postretirement plans: | ||||||||||||||||||||||||
Amortization of prior service cost included in net periodic pension and postretirement cost | $ | (4 | ) | $ | — | $ | (4 | ) | $ | (4 | ) | $ | — | $ | (4 | ) | ||||||||
Amortization of actuarial loss included in net periodic pension and postretirement cost | 21 | (4 | ) | 17 | 15 | — | 15 | |||||||||||||||||
Other comprehensive income – pension benefits | $ | 17 | $ | (4 | ) | $ | 13 | $ | 11 | $ | — | $ | 11 | |||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Segment Information | ' | |||||||||||||||||||||||||||||||||||
The following table summarizes certain Tenneco Inc. segment information: | ||||||||||||||||||||||||||||||||||||
Clean Air Division | Ride Performance Division | |||||||||||||||||||||||||||||||||||
North | Europe, South America & India | Asia | North | Europe, South America & India | Asia | Other | Reclass & Elims | Total | ||||||||||||||||||||||||||||
America | Pacific | America | Pacific | |||||||||||||||||||||||||||||||||
(Millions) | ||||||||||||||||||||||||||||||||||||
At September 30, 2013 and for the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | 648 | $ | 470 | $ | 210 | $ | 321 | $ | 258 | $ | 56 | $ | — | $ | — | $ | 1,963 | ||||||||||||||||||
Intersegment revenues | 2 | 29 | — | 3 | 10 | 8 | — | (52 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 57 | 16 | 22 | 33 | (40 | ) | 5 | (21 | ) | — | 72 | |||||||||||||||||||||||||
Total assets | 1,133 | 912 | 515 | 696 | 584 | 213 | — | 46 | 4,099 | |||||||||||||||||||||||||||
At September 30, 2012 and for the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | 592 | 414 | 179 | 299 | 245 | 49 | — | — | 1,778 | |||||||||||||||||||||||||||
Intersegment revenues | 1 | 21 | — | 3 | 11 | 7 | — | (43 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 48 | 7 | 20 | 35 | 10 | 3 | (12 | ) | — | 111 | ||||||||||||||||||||||||||
Total assets | 1,069 | 820 | 401 | 617 | 582 | 202 | — | 11 | 3,702 | |||||||||||||||||||||||||||
At September 30, 2013 and for the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | $ | 1,981 | $ | 1,453 | $ | 596 | $ | 952 | $ | 791 | $ | 160 | $ | — | $ | — | $ | 5,933 | ||||||||||||||||||
Intersegment revenues | 4 | 86 | — | 8 | 31 | 23 | — | (152 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 174 | 45 | 58 | 94 | (16 | ) | 15 | (64 | ) | — | 306 | |||||||||||||||||||||||||
Total assets | 1,133 | 912 | 515 | 696 | 584 | 213 | — | 46 | 4,099 | |||||||||||||||||||||||||||
At September 30, 2012 and for the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||
Revenues from external customers | 1,932 | 1,308 | 504 | 941 | 793 | 132 | — | — | 5,610 | |||||||||||||||||||||||||||
Intersegment revenues | 6 | 80 | — | 8 | 39 | 23 | — | (156 | ) | — | ||||||||||||||||||||||||||
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 153 | 43 | 50 | 107 | 36 | 3 | (48 | ) | — | 344 | ||||||||||||||||||||||||||
Total assets | 1,069 | 820 | 401 | 617 | 582 | 202 | — | 11 | 3,702 | |||||||||||||||||||||||||||
Supplemental_Guarantor_Condens1
Supplemental Guarantor Condensed Consolidating Financial Statements (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||
Statement of Comprehensive Income (Loss) | ' | |||||||||||||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 864 | $ | 1,099 | $ | — | $ | — | $ | 1,963 | ||||||||||
Affiliated companies | 89 | 139 | — | (228 | ) | — | ||||||||||||||
953 | 1,238 | — | (228 | ) | 1,963 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 827 | 1,093 | — | (229 | ) | 1,691 | ||||||||||||||
Engineering, research, and development | 16 | 19 | — | — | 35 | |||||||||||||||
Selling, general, and administrative | 42 | 68 | 2 | — | 112 | |||||||||||||||
Depreciation and amortization of other intangibles | 20 | 31 | — | — | 51 | |||||||||||||||
905 | 1,211 | 2 | (229 | ) | 1,889 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Other income (loss) | 6 | 2 | — | (9 | ) | (1 | ) | |||||||||||||
6 | 1 | — | (9 | ) | (2 | ) | ||||||||||||||
Earnings (loss) before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 54 | 28 | (2 | ) | (8 | ) | 72 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 1 | 19 | — | 20 | |||||||||||||||
Affiliated companies (net of interest income) | 17 | (17 | ) | — | — | — | ||||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 37 | 44 | (21 | ) | (8 | ) | 52 | |||||||||||||
Income tax (benefit) expense | (12 | ) | 42 | 30 | ||||||||||||||||
Equity in net income (loss) from affiliated companies | (10 | ) | — | 33 | (23 | ) | — | |||||||||||||
Net Income | 39 | 2 | 12 | (31 | ) | 22 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 10 | — | — | 10 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 39 | $ | (8 | ) | $ | 12 | $ | (31 | ) | $ | 12 | ||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 50 | $ | 7 | $ | 12 | $ | (31 | ) | $ | 38 | |||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Three Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 792 | $ | 986 | $ | — | $ | — | $ | 1,778 | ||||||||||
Affiliated companies | 43 | 123 | — | (166 | ) | — | ||||||||||||||
835 | 1,109 | — | (166 | ) | 1,778 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 771 | 889 | — | (166 | ) | 1,494 | ||||||||||||||
Engineering, research, and development | 14 | 14 | — | — | 28 | |||||||||||||||
Selling, general, and administrative | 26 | 67 | 1 | — | 94 | |||||||||||||||
Depreciation and amortization of other intangibles | 18 | 31 | — | — | 49 | |||||||||||||||
829 | 1,001 | 1 | (166 | ) | 1,665 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (1 | ) | — | — | (1 | ) | |||||||||||||
Other income (expense) | 13 | (11 | ) | — | (3 | ) | (1 | ) | ||||||||||||
13 | (12 | ) | — | (3 | ) | (2 | ) | |||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 19 | 96 | (1 | ) | (3 | ) | 111 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 1 | 20 | — | 21 | |||||||||||||||
Affiliated companies (net of interest income) | 57 | (21 | ) | (36 | ) | — | — | |||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | (38 | ) | 116 | 15 | (3 | ) | 90 | |||||||||||||
Income tax (benefit) expense | (77 | ) | 35 | — | — | (42 | ) | |||||||||||||
Equity in net income (loss) from affiliated companies | 73 | — | 110 | (183 | ) | — | ||||||||||||||
Net income (loss) | 112 | 81 | 125 | (186 | ) | 132 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 7 | — | — | 7 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 112 | $ | 74 | $ | 125 | $ | (186 | ) | $ | 125 | |||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 117 | $ | 86 | $ | 125 | $ | (186 | ) | $ | 142 | |||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 2,620 | $ | 3,313 | $ | — | $ | — | $ | 5,933 | ||||||||||
Affiliated companies | 260 | 430 | — | (690 | ) | — | ||||||||||||||
2,880 | 3,743 | — | (690 | ) | 5,933 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 2,345 | 3,376 | — | (690 | ) | 5,031 | ||||||||||||||
Goodwill impairment charge | — | — | — | — | — | |||||||||||||||
Engineering, research, and development | 45 | 58 | — | — | 103 | |||||||||||||||
Selling, general, and administrative | 140 | 192 | 5 | — | 337 | |||||||||||||||
Depreciation and amortization of other intangibles | 58 | 93 | — | — | 151 | |||||||||||||||
2,588 | 3,719 | 5 | (690 | ) | 5,622 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Other income (expense) | 39 | 7 | — | (48 | ) | (2 | ) | |||||||||||||
39 | 4 | — | (48 | ) | (5 | ) | ||||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 331 | 28 | (5 | ) | (48 | ) | 306 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | (1 | ) | 3 | 58 | 60 | |||||||||||||||
Affiliated companies (net of interest income) | 53 | (54 | ) | 1 | — | — | ||||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 279 | 79 | (64 | ) | (48 | ) | 246 | |||||||||||||
Income tax expense | 34 | 55 | — | — | 89 | |||||||||||||||
Equity in net income (loss) from affiliated companies | (13 | ) | — | 193 | (180 | ) | — | |||||||||||||
Net income (loss) | 232 | 24 | 129 | (228 | ) | 157 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 28 | — | — | 28 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 232 | $ | (4 | ) | $ | 129 | $ | (228 | ) | $ | 129 | ||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 243 | $ | (29 | ) | $ | 129 | $ | (228 | ) | $ | 115 | ||||||||
STATEMENT OF COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Revenues | ||||||||||||||||||||
Net sales and operating revenues — | ||||||||||||||||||||
External | $ | 2,579 | $ | 3,031 | $ | — | $ | — | $ | 5,610 | ||||||||||
Affiliated companies | 139 | 420 | — | (559 | ) | — | ||||||||||||||
2,718 | 3,451 | — | (559 | ) | 5,610 | |||||||||||||||
Costs and expenses | ||||||||||||||||||||
Cost of sales (exclusive of depreciation and amortization shown below) | 2,389 | 2,866 | — | (559 | ) | 4,696 | ||||||||||||||
Goodwill impairment charge | — | — | — | — | — | |||||||||||||||
Engineering, research, and development | 42 | 52 | — | — | 94 | |||||||||||||||
Selling, general, and administrative | 103 | 214 | 4 | — | 321 | |||||||||||||||
Depreciation and amortization of other intangibles | 54 | 94 | — | — | 148 | |||||||||||||||
2,588 | 3,226 | 4 | (559 | ) | 5,259 | |||||||||||||||
Other income (expense) | ||||||||||||||||||||
Loss on sale of receivables | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Other income (expense) | 59 | (21 | ) | — | (42 | ) | (4 | ) | ||||||||||||
59 | (24 | ) | — | (42 | ) | (7 | ) | |||||||||||||
Earnings before interest expense, income taxes, noncontrolling interests, and equity in net income from affiliated companies | 189 | 201 | (4 | ) | (42 | ) | 344 | |||||||||||||
Interest expense — | ||||||||||||||||||||
External (net of interest capitalized) | — | 3 | 81 | — | 84 | |||||||||||||||
Affiliated companies (net of interest income) | 169 | (63 | ) | (106 | ) | — | — | |||||||||||||
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 20 | 261 | 21 | (42 | ) | 260 | ||||||||||||||
Income (benefit) tax expense | (70 | ) | 67 | — | — | (3 | ) | |||||||||||||
Equity in net income (loss) from affiliated companies | 170 | — | 221 | (391 | ) | — | ||||||||||||||
Net income (loss) | 260 | 194 | 242 | (433 | ) | 263 | ||||||||||||||
Less: Net income attributable to noncontrolling interests | — | 21 | — | — | 21 | |||||||||||||||
Net income (loss) attributable to Tenneco Inc. | $ | 260 | $ | 173 | $ | 242 | $ | (433 | ) | $ | 242 | |||||||||
Comprehensive income (loss) attributable to Tenneco Inc. | $ | 262 | $ | 179 | $ | 242 | $ | (433 | ) | $ | 250 | |||||||||
Balance Sheet | ' | |||||||||||||||||||
BALANCE SHEET | ||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Restricted cash | — | 5 | — | — | 5 | |||||||||||||||
Receivables, net | 451 | 1,223 | 16 | (435 | ) | 1,255 | ||||||||||||||
Inventories | 288 | 411 | — | — | 699 | |||||||||||||||
Deferred income taxes | 91 | — | 6 | (21 | ) | 76 | ||||||||||||||
Prepayments and other | 39 | 229 | — | — | 268 | |||||||||||||||
Total current assets | 872 | 2,141 | 22 | (456 | ) | 2,579 | ||||||||||||||
Other assets: | ||||||||||||||||||||
Investment in affiliated companies | 629 | — | 889 | (1,518 | ) | — | ||||||||||||||
Notes and advances receivable from affiliates | 971 | 6,535 | 4,760 | (12,266 | ) | — | ||||||||||||||
Long-term receivables, net | 6 | 2 | — | — | 8 | |||||||||||||||
Goodwill | 22 | 48 | — | — | 70 | |||||||||||||||
Intangibles, net | 14 | 17 | — | — | 31 | |||||||||||||||
Deferred income taxes | 112 | 10 | 36 | — | 158 | |||||||||||||||
Other | 47 | 48 | 25 | — | 120 | |||||||||||||||
1,801 | 6,660 | 5,710 | (13,784 | ) | 387 | |||||||||||||||
Plant, property, and equipment, at cost | 1,145 | 2,278 | — | — | 3,423 | |||||||||||||||
Less — Accumulated depreciation and amortization | (792 | ) | (1,498 | ) | — | — | (2,290 | ) | ||||||||||||
353 | 780 | — | — | 1,133 | ||||||||||||||||
Total assets | $ | 3,026 | $ | 9,581 | $ | 5,732 | $ | (14,240 | ) | $ | 4,099 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Short-term debt (including current maturities of long-term debt) | ||||||||||||||||||||
Short-term debt — non-affiliated | $ | — | $ | 131 | $ | — | $ | — | $ | 131 | ||||||||||
Short-term debt — affiliated | 50 | 206 | 10 | (266 | ) | — | ||||||||||||||
Trade payables | 468 | 948 | — | (128 | ) | 1,288 | ||||||||||||||
Accrued taxes | 14 | 31 | — | — | 45 | |||||||||||||||
Other | 136 | 300 | 14 | (62 | ) | 388 | ||||||||||||||
Total current liabilities | 668 | 1,616 | 24 | (456 | ) | 1,852 | ||||||||||||||
Long-term debt — non-affiliated | — | 8 | 1,218 | — | 1,226 | |||||||||||||||
Long-term debt — affiliated | 1,620 | 6,580 | 4,066 | (12,266 | ) | — | ||||||||||||||
Deferred income taxes | — | 25 | — | — | 25 | |||||||||||||||
Postretirement benefits and other liabilities | 458 | 95 | — | 4 | 557 | |||||||||||||||
Commitments and contingencies | ||||||||||||||||||||
Total liabilities | 2,746 | 8,324 | 5,308 | (12,718 | ) | 3,660 | ||||||||||||||
Redeemable noncontrolling interests | — | 15 | — | — | 15 | |||||||||||||||
Tenneco Inc. shareholders’ equity | 280 | 1,198 | 424 | (1,522 | ) | 380 | ||||||||||||||
Noncontrolling interests | — | 44 | — | — | 44 | |||||||||||||||
Total equity | 280 | 1,242 | 424 | (1,522 | ) | 424 | ||||||||||||||
Total liabilities, redeemable noncontrolling interests and equity | $ | 3,026 | $ | 9,581 | $ | 5,732 | $ | (14,240 | ) | $ | 4,099 | |||||||||
BALANCE SHEET | ||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
ASSETS | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 4 | $ | 219 | $ | — | $ | — | $ | 223 | ||||||||||
Receivables, net | 341 | 1,268 | 30 | (653 | ) | 986 | ||||||||||||||
Inventories | 278 | 389 | — | — | 667 | |||||||||||||||
Deferred income taxes | 91 | — | 6 | (25 | ) | 72 | ||||||||||||||
Prepayments and other | 28 | 148 | — | — | 176 | |||||||||||||||
Total current assets | 742 | 2,024 | 36 | (678 | ) | 2,124 | ||||||||||||||
Other assets: | ||||||||||||||||||||
Investment in affiliated companies | 551 | — | 717 | (1,268 | ) | — | ||||||||||||||
Notes and advances receivable from affiliates | 957 | 4,495 | 4,594 | (10,046 | ) | — | ||||||||||||||
Long-term receivables, net | 2 | 2 | — | — | 4 | |||||||||||||||
Goodwill | 21 | 51 | — | — | 72 | |||||||||||||||
Intangibles, net | 18 | 17 | — | — | 35 | |||||||||||||||
Deferred income taxes | 55 | 1 | 60 | — | 116 | |||||||||||||||
Other | 31 | 75 | 29 | — | 135 | |||||||||||||||
1,635 | 4,641 | 5,400 | (11,314 | ) | 362 | |||||||||||||||
Plant, property, and equipment, at cost | 1,098 | 2,267 | — | — | 3,365 | |||||||||||||||
Less — Accumulated depreciation and amortization | (763 | ) | (1,480 | ) | — | — | (2,243 | ) | ||||||||||||
335 | 787 | — | — | 1,122 | ||||||||||||||||
Total assets | $ | 2,712 | $ | 7,452 | $ | 5,436 | $ | (11,992 | ) | $ | 3,608 | |||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Short-term debt (including current maturities of long-term debt) | ||||||||||||||||||||
Short-term debt — non-affiliated | $ | — | $ | 112 | $ | 1 | $ | — | $ | 113 | ||||||||||
Short-term debt — affiliated | 250 | 173 | 10 | (433 | ) | — | ||||||||||||||
Trade payables | 423 | 954 | — | (191 | ) | 1,186 | ||||||||||||||
Accrued taxes | 16 | 34 | — | — | 50 | |||||||||||||||
Other | 135 | 210 | 9 | (54 | ) | 300 | ||||||||||||||
Total current liabilities | 824 | 1,483 | 20 | (678 | ) | 1,649 | ||||||||||||||
Long-term debt — non-affiliated | — | 8 | 1,059 | — | 1,067 | |||||||||||||||
Long-term debt — affiliated | 1,447 | 4,533 | 4,066 | (10,046 | ) | — | ||||||||||||||
Deferred income taxes | — | 27 | — | — | 27 | |||||||||||||||
Postretirement benefits and other liabilities | 438 | 118 | — | 3 | 559 | |||||||||||||||
Commitments and contingencies | ||||||||||||||||||||
Total liabilities | 2,709 | 6,169 | 5,145 | (10,721 | ) | 3,302 | ||||||||||||||
Redeemable noncontrolling interests | — | 15 | — | — | 15 | |||||||||||||||
Tenneco Inc. shareholders’ equity | 3 | 1,223 | 291 | (1,271 | ) | 246 | ||||||||||||||
Noncontrolling interests | — | 45 | — | — | 45 | |||||||||||||||
Total equity | 3 | 1,268 | 291 | (1,271 | ) | 291 | ||||||||||||||
Total liabilities, redeemable noncontrolling interests and equity | $ | 2,712 | $ | 7,452 | $ | 5,436 | $ | (11,992 | ) | $ | 3,608 | |||||||||
Statement of Cash Flows | ' | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass & | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | Elims | |||||||||||||||||
Company) | ||||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided by operating activities | $ | 21 | $ | 16 | $ | 13 | $ | — | $ | 50 | ||||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 4 | — | — | 4 | |||||||||||||||
Cash payments for plant, property, and equipment | (21 | ) | (33 | ) | — | — | (54 | ) | ||||||||||||
Cash payments for software related intangible assets | (6 | ) | (1 | ) | — | — | (7 | ) | ||||||||||||
Net cash used by investing activities | (27 | ) | (30 | ) | — | — | (57 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Issuance of common and treasury shares | — | — | 4 | — | 4 | |||||||||||||||
Tax benefit from stock-based compensation | 17 | — | — | — | 17 | |||||||||||||||
Retirement of long-term debt | — | (1 | ) | (4 | ) | — | (5 | ) | ||||||||||||
Purchase of common stock under the share repurchase program | — | — | (18 | ) | — | (18 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | (40 | ) | 2 | — | (38 | ) | ||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 12 | 72 | — | 84 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 31 | 36 | (67 | ) | — | — | ||||||||||||||
Distributions to noncontrolling interest partners | — | (6 | ) | — | — | (6 | ) | |||||||||||||
Net cash provided (used) by financing activities | 8 | 43 | (13 | ) | — | 38 | ||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 10 | — | — | 10 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 2 | 39 | — | — | 41 | |||||||||||||||
Cash and cash equivalents, July 1 | 1 | 234 | — | — | 235 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 107 | $ | 69 | $ | (51 | ) | $ | — | $ | 125 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 1 | — | — | 1 | |||||||||||||||
Cash payments for plant, property, and equipment | (32 | ) | (38 | ) | — | — | (70 | ) | ||||||||||||
Cash payments for software related intangible assets | (3 | ) | — | — | — | (3 | ) | |||||||||||||
Cash payments for net assets purchased | (7 | ) | (7 | ) | ||||||||||||||||
Net cash used by investing activities | (42 | ) | (37 | ) | — | — | (79 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Retirement of long-term debt | — | — | (3 | ) | — | (3 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | 2 | — | — | 2 | |||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt | — | (1 | ) | (18 | ) | — | (19 | ) | ||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | (61 | ) | (11 | ) | 72 | — | — | |||||||||||||
Capital contribution from noncontrolling interest partner | — | 4 | — | — | 4 | |||||||||||||||
Distributions to noncontrolling interest partners | — | (9 | ) | — | — | (9 | ) | |||||||||||||
Net cash provided (used) by financing activities | (61 | ) | (15 | ) | 51 | — | (25 | ) | ||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 5 | — | — | 5 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 4 | 22 | — | — | 26 | |||||||||||||||
Cash and cash equivalents, July 1 | — | 181 | — | — | 181 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 4 | $ | 203 | $ | — | $ | — | $ | 207 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 6 | $ | 104 | $ | (19 | ) | $ | — | $ | 91 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | 1 | 5 | — | — | 6 | |||||||||||||||
Cash payments for plant, property, and equipment | (76 | ) | (102 | ) | — | — | (178 | ) | ||||||||||||
Cash payments for software related intangible assets | (15 | ) | (4 | ) | — | — | (19 | ) | ||||||||||||
Changes in restricted cash | — | (5 | ) | — | — | (5 | ) | |||||||||||||
Net cash used by investing activities | (90 | ) | (106 | ) | — | — | (196 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Issuance of common and treasury shares | — | — | 17 | — | 17 | |||||||||||||||
Tax benefit from stock-based compensation | 17 | — | — | — | 17 | |||||||||||||||
Retirement of long-term debt | — | (2 | ) | (11 | ) | (13 | ) | |||||||||||||
Purchase of common stock under the share repurchase program | — | — | (20 | ) | — | (20 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | (3 | ) | — | — | (3 | ) | |||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 22 | 169 | — | 191 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | 66 | 70 | (136 | ) | — | — | ||||||||||||||
Distributions to noncontrolling interest partners | — | (29 | ) | — | (29 | ) | ||||||||||||||
Net cash provided by financing activities | $ | 83 | $ | 58 | $ | 19 | $ | — | $ | 160 | ||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | (2 | ) | — | — | (2 | ) | |||||||||||||
Increase (decrease) in cash and cash equivalents | (1 | ) | 54 | — | — | 53 | ||||||||||||||
Cash and cash equivalents, January 1 | 4 | 219 | — | — | 223 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 3 | $ | 273 | $ | — | $ | — | $ | 276 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. | |||||||||||||||||||
STATEMENT OF CASH FLOWS | ||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||
Guarantor | Nonguarantor | Tenneco Inc. | Reclass | Consolidated | ||||||||||||||||
Subsidiaries | Subsidiaries | (Parent | & | |||||||||||||||||
Company) | Elims | |||||||||||||||||||
(Millions) | ||||||||||||||||||||
Operating Activities | ||||||||||||||||||||
Net cash provided (used) by operating activities | $ | 231 | $ | 72 | $ | (177 | ) | $ | — | $ | 126 | |||||||||
Investing Activities | ||||||||||||||||||||
Proceeds from sale of assets | — | 2 | — | — | 2 | |||||||||||||||
Cash payments for plant, property, and equipment | (79 | ) | (116 | ) | — | — | (195 | ) | ||||||||||||
Cash payments for software related intangible assets | (5 | ) | (5 | ) | — | — | (10 | ) | ||||||||||||
Cash payments for net assets purchased | (7 | ) | — | — | — | (7 | ) | |||||||||||||
Net cash used by investing activities | (91 | ) | (119 | ) | — | — | (210 | ) | ||||||||||||
Financing Activities | ||||||||||||||||||||
Retirement of long-term debt | — | (1 | ) | (405 | ) | — | (406 | ) | ||||||||||||
Issuance of long-term debt | — | — | 250 | — | 250 | |||||||||||||||
Debt issuance cost of long-term debt | — | — | (13 | ) | — | (13 | ) | |||||||||||||
Purchase of common stock under the share repurchase program | — | — | (18 | ) | — | (18 | ) | |||||||||||||
Increase (decrease) in bank overdrafts | — | 2 | — | — | 2 | |||||||||||||||
Net increase (decrease) in revolver borrowings and short-term debt excluding current maturities of long-term debt and short-term borrowings secured by accounts receivables | — | 67 | 150 | — | 217 | |||||||||||||||
Net increase (decrease) in short-term borrowings secured by accounts receivables | — | — | 60 | — | 60 | |||||||||||||||
Intercompany dividends and net increase (decrease) in intercompany obligations | (137 | ) | (16 | ) | 153 | — | — | |||||||||||||
Capital contribution from noncontrolling interest partners | — | 5 | — | — | 5 | |||||||||||||||
Distributions to noncontrolling interest partners | — | (27 | ) | — | — | (27 | ) | |||||||||||||
Net cash provided (used) by financing activities | (137 | ) | 30 | 177 | — | 70 | ||||||||||||||
Effect of foreign exchange rate changes on cash and cash equivalents | — | 7 | — | — | 7 | |||||||||||||||
Increase (decrease) in cash and cash equivalents | 3 | (10 | ) | — | — | (7 | ) | |||||||||||||
Cash and cash equivalents, January 1 | 1 | 213 | — | — | 214 | |||||||||||||||
Cash and cash equivalents, September 30 (Note) | $ | 4 | $ | 203 | $ | — | $ | — | $ | 207 | ||||||||||
Note: | Cash and cash equivalents include highly liquid investments with a maturity of three months or less at the date of purchase. |
Consolidation_and_Presentation1
Consolidation and Presentation - Additional Information (Detail) | Sep. 30, 2013 |
Minimum [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Range of percentages of investments, equity method investments | 20.00% |
Maximum [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Range of percentages of investments, equity method investments | 50.00% |
Carrying_and_Estimated_Fair_Va
Carrying and Estimated Fair Value (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Instruments with off-balance sheet risk: | ' | ' |
Asset derivative contracts | $0 | $1 |
Carrying Amount [Member] | ' | ' |
Carrying and estimated fair value | ' | ' |
Long-term debt (including current maturities) | 1,227 | 1,070 |
Instruments with off-balance sheet risk: | ' | ' |
Asset derivative contracts | 0 | 1 |
Fair Value [Member] | ' | ' |
Carrying and estimated fair value | ' | ' |
Long-term debt (including current maturities) | 1,290 | 1,136 |
Instruments with off-balance sheet risk: | ' | ' |
Asset derivative contracts | $0 | $1 |
Fair_Value_of_Long_Term_Debt_A
Fair Value of Long Term Debt - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value of long term debt | $787 | $790 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value of long term debt | 493 | 334 |
Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Fair value of long term debt | $10 | $12 |
Foreign_Exchange_Forward_Contr
Foreign Exchange Forward Contracts Fair Value on Gross Basis (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair Value of Derivative Instruments, Asset Derivatives | $0 | $1 |
Fair Value of Derivative Instruments, Liability Derivatives | 0 | 0 |
Fair Value of Derivative Instruments | $0 | $1 |
Term Of Foreign Currency Forward Purchase And Sales Contacts (less than one year) | '1 year | ' |
Fair_Value_of_Financial_Assets
Fair Value of Financial Assets on Recurring Basis (Detail) (Level 2 [Member], Foreign Exchange Forward Contracts [Member], Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Level 2 [Member] | Foreign Exchange Forward Contracts [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Financial Assets: | ' | ' |
Foreign exchange forward contracts | $0 | $1 |
Summarization_for_Foreign_Curr
Summarization for Foreign Currency Forward Purchase and Sale Contracts (Detail) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | USD ($) | USD ($) | Australian dollars [Member] | British pounds [Member] | European euro [Member] | South African rand [Member] | Japanese yen [Member] | Mexico, Pesos | Polish zloty [Member] | U.S. dollars [Member] | Other [Member] |
AUD | GBP (£) | EUR (€) | ZAR | JPY (¥) | MXN | PLN | USD ($) | USD ($) | |||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Negotiable Financial Instruments Collected Before Maturity Date And Sold At Discount | $4 | $6 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount in Foreign Currency, Purchase | ' | ' | 3 | 9 | ' | 107 | 98 | 6 | 21 | 13 | ' |
Notional Amount in Foreign Currency, Sell | ' | ' | ' | ' | -€ 9 | ' | ¥ (842) | ' | ' | ($25) | ($2) |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ' | ' |
Maximum percentage of stock of certain first tier foreign subsidiaries pledged to secure senior credit facility | 66.00% | ' |
Line of credit facility letters of credit outstanding | $40 | ' |
Negotiable Financial Instruments Collected Before Maturity Date And Sold At Discount | 4 | 6 |
Negotiable Financial Instruments Not Redeemed And Used For Vendor Payment | 13 | 12 |
Negotiable financial instruments received from one customer not redeemed | 16 | 8 |
Negotiable financial instruments received classified as other current assets | 16 | 8 |
Extended Payment Term | 10 | ' |
Restricted cash | 5 | 0 |
TMEL and Walker Plans [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Number of performance guarantee agreements | 2 | ' |
Number of group benefit plans under the agreement | 2 | ' |
Maximum amount payable for pension performance guarantees | 34 | ' |
Percentage of liability considered to determine maximum amount payable for pension performance guarantees | 105.00% | ' |
Percentage of the pension obligation recognized for participating employers | 100.00% | ' |
Pension obligation of participating employers recognized on the balance sheet | 4 | 7 |
TMEL and Futaba [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Maximum amount reimbursable under indemnity agreement | 6 | ' |
Australia [Member] | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Number of subsidiaries | 2 | ' |
Restricted cash | $5 | ' |
LongTerm_Debt_and_Financing_Ar2
Long-Term Debt and Financing Arrangements - Additional Information (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Mar. 22, 2012 | Mar. 22, 2012 | Mar. 22, 2012 | Sep. 30, 2013 | Mar. 22, 2012 | Mar. 08, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 30, 2012 | Mar. 22, 2012 | Sep. 30, 2012 | Apr. 06, 2012 | Mar. 30, 2012 | Mar. 08, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Expiration of former revolving credit Agreement due 2014 [Member] | Expiration Of Tranche B Term Facility [Member] | Expiration of Tranche B-1 letter of credit and revolving loan facilities [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Tranche A Term Facility due March 22, 2017 [Member] | Revolving Credit Facility (Member) | 8 1/8 percent senior notes due in 2015 [Member] | 8 1/8 percent senior notes due in 2015 [Member] | 8 1/8 percent senior notes due in 2015 [Member] | 8 1/8 percent senior notes due in 2015 [Member] | 8 1/8 percent senior notes due in 2015 [Member] | 8 1/8 percent senior notes due in 2015 [Member] | Letter of Credit (Member) | 7 3/4 percent senior notes due August 15, 2018 [Member] | 6 7/8 percent senior notes due Dec 15, 2020 [Member] | Other Debt [Member] | ||
June 30, 2012 through March 31, 2014 [Member] | June 30, 2014 through March 31, 2015 [Member] | June 30, 2015 through March 31, 2016 [Member] | June 30, 2016 through December 31, 2016 [Member] | Due on March 22, 2017 [Member] | |||||||||||||||||||
Long Term Debt And Other Financing Arrangement [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of stock of certain first-tier foreign subsidiaries pledged to secure senior credit facility | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | ' | $556 | $148 | $130 | $231 | $250 | $250 | ' | ' | ' | ' | ' | $850 | ' | ' | ' | ' | ' | $250 | ' | ' | ' | ' |
Line of Credit Facility, Maturity Date | ' | ' | ' | ' | 22-Mar-17 | ' | ' | ' | ' | ' | ' | ' | 22-Mar-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of term loan | ' | ' | ' | ' | ' | ' | ' | 3.1 | 6.3 | 9.4 | 12.5 | 125 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest coverage ratio (minimum) effective from March 31, 2014 through March 22, 2017 | 2.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leverage Ratio Required (Maximum) for future quarters | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest coverage required (minimum) September 30, 2012 through December 31, 2013 | 2.55 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt offered for exchange by the company | ' | ' | ' | ' | ' | ' | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt tendered for exchange by the holders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 232 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument redemption price as percentage of principal amount prior quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104.44% | ' | ' | ' | ' | ' |
Debt instrument consent payment as percentage of principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' |
Amount of debt tendered for exchange by the holders on April 6, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument redemption price as percentage of principal amount current quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104.06% | ' | ' | ' | ' | ' | ' |
Expenses related to redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | 1 | ' | ' | ' | ' | ' | ' | ' |
Senior notes rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.13% | ' | ' | ' | ' | ' | 7.75% | 6.88% | ' |
Unused Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 550 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding borrowings in senior secured credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 261 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility letters of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39 | ' | ' | ' |
Unsecured debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $225 | $500 | $140 |
Financial_Ratios_under_Senior_
Financial Ratios under Senior Credit Facility (Detail) | 3 Months Ended | ||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | |
Required [Member] | ' | ' | ' |
Financial Ratios Under Senior Credit Facility [Line Items] | ' | ' | ' |
Leverage Ratio (maximum) | 3.5 | 3.5 | 3.5 |
Interest Coverage Ratio (minimum) | 2.55 | 2.55 | 2.55 |
Actual [Member] | ' | ' | ' |
Financial Ratios Under Senior Credit Facility [Line Items] | ' | ' | ' |
Leverage Ratio (maximum) | 1.86 | 1.79 | 1.98 |
Interest Coverage Ratio (minimum) | 9.09 | 8.74 | 8.39 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
United States [Member] | Federal [Member] | State [Member] | Europe [Member] | |||||
Income Tax [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense (benefit) | $30 | ($42) | $89 | ($3) | ' | ' | ' | ' |
Net tax benefits related to US taxable income | 22 | ' | 22 | ' | ' | ' | ' | ' |
Restructuring Charges | 56 | ' | ' | ' | ' | ' | ' | 55 |
Deferred tax assets related to NOL's | 90 | ' | 90 | ' | ' | ' | ' | ' |
Impact on earnings related to reversal of valuation allowance | ' | ' | ' | ' | 81 | ' | ' | ' |
Federal net operating loss | ' | ' | ' | ' | $190 | ' | ' | ' |
NOL's expiration period | ' | ' | ' | ' | ' | 'tax years ending in 2025 through 2030 | 'various tax years through 2032 | ' |
Accounts_Receivables_Additiona
Accounts Receivables - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Transfers of Servicing of Financial Assets [Line Items] | ' | ' | ' | ' | ' |
Number of Commercial Banks with Accounts Receivable Securitization Programs | 3 | ' | 3 | ' | ' |
Term of Commitments | ' | ' | '1 year | ' | ' |
Term Of Commitments, Cancellation Period | ' | ' | '90 days | ' | ' |
Term Of Commitments, Financial Institution Cancellation Period | ' | ' | '15 days | ' | ' |
North America [Member] | ' | ' | ' | ' | ' |
Transfers of Servicing of Financial Assets [Line Items] | ' | ' | ' | ' | ' |
North American program maximum facility size | $110 | ' | $110 | ' | ' |
Additional Financing from second priority facility | 40 | ' | 40 | ' | ' |
Outstanding third party investments in securitized accounts receivable bank program | 50 | ' | 50 | ' | 50 |
Securitization Interest Expense | 1 | 1 | 2 | 2 | ' |
Europe [Member] | ' | ' | ' | ' | ' |
Transfers of Servicing of Financial Assets [Line Items] | ' | ' | ' | ' | ' |
Outstanding third party investments in securitized accounts receivable bank program | 150 | ' | 150 | ' | 94 |
Loss on sale of trade accounts receivable | $1 | $1 | $3 | $3 | ' |
Financing Cost Related To Sale Of Securitized Receivables | ' | ' | 3.00% | 3.00% | ' |
Restructuring_and_Other_Charge2
Restructuring and Other Charges - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring cost | $1 | ' | $7 | $10 | $1 | ' | $13 |
Restructuring and related cost allowed to be excluded from the calculation of financial covenant ratios | ' | ' | ' | ' | 80 | ' | ' |
Asset Impairment Charges | ' | 7 | ' | ' | ' | ' | ' |
Restructuring Charges | 56 | ' | ' | ' | ' | ' | ' |
Cumulative amount of allowable exclusions recognized in our calculation of financial covenant ratios | ' | ' | ' | ' | 75 | ' | ' |
Non- cash charges | 2 | ' | 4 | ' | 2 | 4 | 4 |
Cost of Sales [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring cost | 56 | ' | 3 | ' | 63 | 7 | 10 |
Noncash asset write downs | ' | ' | 4 | ' | ' | ' | ' |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring cost | 1 | ' | ' | ' | 5 | 3 | 3 |
Facility Closing [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charges | 58 | ' | ' | ' | 69 | ' | ' |
Non- cash charges | ' | ' | ' | ' | ' | ' | 4 |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring cost | 58 | ' | ' | ' | 69 | ' | ' |
Non- cash charges | ' | ' | ' | ' | 2 | ' | ' |
Europe [Member] | Facility Closing [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charges | ' | ' | ' | ' | 61 | ' | ' |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Restructuring Charges | $55 | ' | ' | ' | ' | ' | ' |
Roll_Forward_of_Restructuring_
Roll Forward of Restructuring Reserve (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Severance [Member] | ||
Restructuring Reserve [Roll Forward] | ' | ' |
Restructuring Reserve | ' | $0 |
Expenses | -56 | 67 |
Cash Payments | ' | -14 |
Restructuring Reserve | ' | $53 |
Environmental_Matters_Litigati2
Environmental Matters, Litigation and Product Warranties - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
defendent | ||||
federal_superfund_site | ||||
LegalMatter | ||||
State | ||||
Environmental Matters, Litigation and Product Warranties [Line Items] | ' | ' | ' | ' |
Number of Federal Super Fund sites | ' | ' | ' | 1 |
Environmental remediation accrual, discounted basis | $16 | ' | ' | $16 |
Portion of environmental remediation costs recorded in other current liabilities | 4 | ' | ' | 4 |
Portion of environmental remediation costs recorded in deferred credits and other liabilities | 12 | ' | ' | 12 |
Weighted average discount rate | 2.40% | ' | ' | 2.40% |
Environmental remediation accrual, undiscounted basis | 20 | ' | ' | 20 |
Cost of services, environmental remediation, next twelve months | 2 | ' | ' | 2 |
Cost of services, environmental remediation, year two | 2 | ' | ' | 2 |
Cost of services, environmental remediation, year three | 1 | ' | ' | 1 |
Cost of services, environmental remediation, year four | 1 | ' | ' | 1 |
Cost of services, environmental remediation, year five | 1 | ' | ' | 1 |
Cost of services, environmental remediation, thereafter | 13 | ' | ' | 13 |
Number of states for which we are subject to an audit with respect to payment of unclaimed property | ' | ' | ' | 11 |
Number of years subject to audit with respect to payment of unclaimed property | ' | ' | ' | '30 years |
Number of complaints filed alleging exposure to asbestos from our product categories | ' | ' | ' | 20,000 |
Current docket of active and inactive cases nationwide relating to alleged exposure to asbestos from our product categories (less than 500 cases) | ' | ' | ' | 500 |
Number of defendants in many asbestos related cases | ' | ' | ' | 100 |
Premium freight and overtime costs incurred | $2 | $3 | $2 | $2 |
Warranty_Accrual_Rollforward_D
Warranty Accrual Rollforward (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward] | ' | ' |
Beginning Balance January 1, | $23 | $26 |
Accruals related to product warranties | 12 | 10 |
Reductions for payments made | -13 | -13 |
Ending Balance September 30, | $22 | $23 |
Summary_of_Earnings_Per_Share_
Summary of Earnings Per Share of Common Stock (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic earnings per share — | ' | ' | ' | ' |
Net income attributable to Tenneco Inc. | $12 | $125 | $129 | $242 |
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 |
Earnings per share of common stock | $0.19 | $2.09 | $2.13 | $4.04 |
Diluted earnings per share — | ' | ' | ' | ' |
Net income attributable to Tenneco Inc. | $12 | $125 | $129 | $242 |
Weighted Average shares of common stock outstanding | 60,624,358 | 59,766,097 | 60,475,652 | 59,983,310 |
Effect of dilutive securities: | ' | ' | ' | ' |
Restricted stock | 220,132 | 120,169 | 182,378 | 132,755 |
Stock options | 1,020,885 | 1,063,366 | 925,599 | 1,150,059 |
Weighted Average shares of common stock outstanding including dilutive securities | 61,865,375 | 60,949,632 | 61,583,629 | 61,266,124 |
Earnings per share of common stock | $0.19 | $2.05 | $2.09 | $3.95 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' |
Anti-dilutive stock options | 516,957 | 521,249 |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
In Millions, except Share data, unless otherwise specified | Jan. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 |
Stock Option [Member] | Stock Option [Member] | Restricted Stock, Restricted Stock Units, Long Term Performance Units, SARs [Member] | Restricted Stock, Restricted Stock Units, Long Term Performance Units, SARs [Member] | Restricted Stock, Restricted Stock Units, Long Term Performance Units, SARs [Member] | Restricted Stock, Restricted Stock Units, Long Term Performance Units, SARs [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Less — Common Stock Held as Treasury Stock, at Cost | Restricted Stock [Member] | UNITED STATES | ||||||||
Stock Option [Member] | Stock Option [Member] | Stock Option [Member] | Stock Option [Member] | Stock Option [Member] | ||||||||||||||||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense related to nonqualified stock options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $1 | $4 | $4 | ' | ' | ' |
Share-based compensation, effect on earnings per share, basic | ' | $0.02 | ' | $0.07 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation, effect on earnings per share, diluted | ' | ' | ' | $0.03 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation costs | ' | ' | ' | ' | ' | ' | ' | 7 | ' | 16 | ' | 16 | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation costs, weighted average period | ' | ' | ' | ' | ' | ' | ' | '1 year 4 months 24 days | ' | ' | ' | '1 year 10 months 24 days | ' | '1 year 9 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation | ' | 3 | 2 | ' | 10 | 9 | ' | ' | ' | 4 | 3 | 14 | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from stock option exercises | ' | ' | ' | ' | ' | ' | ' | 13 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 |
Unrecorded tax benefit from stock options exercised | ' | ' | ' | ' | ' | ' | ' | 4 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value of options granted | ' | ' | ' | ' | $19.86 | $17.49 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of shares vested | ' | ' | ' | 3 | 5 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total fair value of restricted shares vested | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | 5 | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased during Period, Shares | 550,000 | 374,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,000 | ' |
Purchase of common stock through stock repurchase program | ' | $18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | ' | ' |
Treasury Stock Acquired, Average Cost Per Share | ' | $48.89 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $44.56 | ' | ' |
Treasury Stock, Shares | ' | 2,714,592 | ' | ' | 2,714,592 | ' | 2,294,692 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase duration in 2012 | ' | ' | ' | ' | '12 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assumptions_Used_for_Calculati
Assumptions Used for Calculating Fair Values of Stock Option Awards (Detail) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Options Granted | ' | ' |
Weighted average grant date fair value, per share | $19.84 | $17.35 |
Weighted average assumptions used: | ' | ' |
Expected volatility | 66.40% | 73.50% |
Expected lives | '4 years 10 months 24 days | '4 years 8 months 12 days |
Risk-free interest rates | 0.70% | 0.80% |
Dividend yields | 0.00% | 0.00% |
Stock_Options_Status_and_Activ
Stock Options Status and Activity (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' |
Outstanding, Beginning Balance | 2,260,743 | 2,654,247 | 2,447,475 | 2,447,475 | 2,447,475 | ' |
Granted | 1,182 | 388 | 311,539 | ' | ' | ' |
Canceled | ' | ' | -7,225 | ' | ' | ' |
Forfeited | -283 | -450 | -14,920 | ' | ' | ' |
Exercised | -147,753 | -393,442 | -82,622 | ' | ' | ' |
Outstanding, Ending Balance | 2,113,889 | 2,260,743 | 2,654,247 | 2,260,743 | 2,113,889 | 2,447,475 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' | ' | ' | ' | ' |
Outstanding, Beginning Balance | $22.06 | $22.12 | $20.14 | $20.14 | $20.14 | ' |
Granted | $35.41 | $38.90 | $36.29 | ' | ' | ' |
Canceled | ' | ' | $11.73 | ' | ' | ' |
Forfeited | $8.68 | $21.81 | $14.59 | ' | ' | ' |
Exercised | $15.42 | $22.53 | $19.96 | ' | ' | ' |
Outstanding, Ending Balance | $22.52 | $22.06 | $22.12 | $22.06 | $22.52 | $20.14 |
Weighted Avg. Remaining Life in Years | ' | ' | '4 years 3 months 18 days | '4 years 8 months 12 days | '4 years 7 months 6 days | '4 years 1 month 5 days |
Aggregate Intrinsic Value, Outstanding, Beginning Balance | $44 | $41 | $29 | $29 | $29 | ' |
Aggregate Intrinsic Value, Exercised | 7 | ' | 1 | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding, Ending Balance | $56 | $44 | $41 | $44 | $56 | $29 |
Nonvested_Restricted_Shares_De
Nonvested Restricted Shares (Detail) (Restricted Stock [Member], USD $) | 3 Months Ended | ||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | |
Restricted Stock [Member] | ' | ' | ' |
Nonvested Restricted Shares | ' | ' | ' |
Nonvested, Beginning Balance | 384,426 | 399,489 | 348,918 |
Granted | 2,223 | 226 | 204,731 |
Vested | -16,255 | -15,289 | -154,160 |
Nonvested, Ending Balance | 370,394 | 384,426 | 399,489 |
Weighted Avg. Grant Date Fair Value | ' | ' | ' |
Nonvested, Beginning Balance | $34.86 | $34.88 | $31.69 |
Granted | $46.91 | $38.90 | $36.28 |
Vested | $35.58 | $35.40 | $29.54 |
Nonvested, Ending Balance | $34.90 | $34.86 | $34.88 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 | 0 | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $0 | $0 | $0 |
Components_of_Net_Periodic_Ben
Components of Net Periodic Benefit Cost (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
United States Pension Plans of US Entity, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost — benefits earned during the period | $0 | $1 | $1 | $1 |
Interest cost | 5 | 5 | 14 | 15 |
Expected return on plan assets | -6 | -5 | -17 | -16 |
Net amortization: | ' | ' | ' | ' |
Actuarial loss | 3 | 1 | 8 | 5 |
Prior service cost (credit) | 0 | 0 | 0 | 0 |
Net pension and postretirement costs | 2 | 2 | 6 | 5 |
Foreign Pension Plans, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost — benefits earned during the period | 1 | 1 | 6 | 5 |
Interest cost | 5 | 5 | 13 | 14 |
Expected return on plan assets | -5 | -4 | -15 | -15 |
Net amortization: | ' | ' | ' | ' |
Actuarial loss | 2 | 2 | 8 | 6 |
Prior service cost (credit) | 0 | 0 | 1 | 1 |
Net pension and postretirement costs | 3 | 4 | 13 | 11 |
United States Postretirement Benefit Plans of US Entity, Defined Benefit [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost — benefits earned during the period | 0 | 0 | 0 | 0 |
Interest cost | 1 | 2 | 4 | 5 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Net amortization: | ' | ' | ' | ' |
Actuarial loss | 2 | 1 | 4 | 4 |
Prior service cost (credit) | -2 | -2 | -5 | -5 |
Net pension and postretirement costs | $1 | $1 | $3 | $4 |
Pension_Plans_Postretirement_a2
Pension Plans, Postretirement and Other Employee Benefits - Additional Information (Detail) (USD $) | 0 Months Ended | 9 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Jan. 02, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
retirement_plan | United States Pension Plans of US Entity, Defined Benefit [Member] | Foreign Pension Plans, Defined Benefit [Member] | Pension Plans, Defined Benefit [Member] | United States Postretirement Benefit Plans of US Entity, Defined Benefit [Member] | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' |
Employer contributions | ' | $24 | $20 | ' | $5 |
Employer estimated contributions | ' | ' | ' | $15 | $4 |
Retirement Savings Plan | 1 | ' | ' | ' | ' |
Defined compensation plan, original employee match percentage on fifty percent of employee contributions | 8.00% | ' | ' | ' | ' |
Defined compensation plan, amended employee match percentage on one hundred percent of employee contributions | 3.00% | ' | ' | ' | ' |
Defined compensation plan, amended employee match percentage on fifty percent of employee contributions | 2.00% | ' | ' | ' | ' |
Amounts_Recognized_for_Pension
Amounts Recognized for Pension and Postretirement Benefits in Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' |
Amortization of prior service cost included in net periodic pension and postretirement cost, Before-tax amount | ($2) | ($2) | ($4) | ($4) |
Amortization of actuarial loss included in net periodic pension and postretirement cost, Before-tax amount | 7 | 4 | 21 | 15 |
Other comprehensive income - pension benefits, Before-tax amount | 5 | 2 | 17 | 11 |
Amortization of prior service cost included in net periodic pension and postretirement cost, Tax Benefit | 0 | 0 | 0 | 0 |
Amortization of actuarial loss included in net periodic pension and postretirement cost, Tax Benefit | -2 | 1 | -4 | 0 |
Other comprehensive - pension benefits, Tax Benefit | -2 | 1 | -4 | 0 |
Amortization of prior service cost included in net periodic pension and postretirement cost, Net-of-tax Amount | -2 | -2 | -4 | -4 |
Amortization of actuarial loss included in net periodic pension and postretirement cost, Net-of-tax Amount | 5 | 5 | 17 | 15 |
Other comprehensive income - pension benefits, Net-of-tax Amount | $3 | $3 | $13 | $11 |
Segment_Information_Detail
Segment Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | $1,963 | $1,778 | $5,933 | $5,610 | ' |
Intersegment revenues | 0 | 0 | 0 | 0 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 72 | 111 | 306 | 344 | ' |
Total assets | 4,099 | 3,702 | 4,099 | 3,702 | 3,608 |
Other Countries [Member] | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 0 | 0 | 0 | 0 | ' |
Intersegment revenues | 0 | 0 | 0 | 0 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | -21 | -12 | -64 | -48 | ' |
Total assets | 0 | 0 | 0 | 0 | ' |
Reclass and Elims | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 0 | 0 | 0 | 0 | ' |
Intersegment revenues | -52 | -43 | -152 | -156 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 0 | 0 | 0 | 0 | ' |
Total assets | 46 | 11 | 46 | 11 | ' |
Clean Air Division [Member] | North America [Member] | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 648 | 592 | 1,981 | 1,932 | ' |
Intersegment revenues | 2 | 1 | 4 | 6 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 57 | 48 | 174 | 153 | ' |
Total assets | 1,133 | 1,069 | 1,133 | 1,069 | ' |
Clean Air Division [Member] | Europe [Member] | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 470 | 414 | 1,453 | 1,308 | ' |
Intersegment revenues | 29 | 21 | 86 | 80 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 16 | 7 | 45 | 43 | ' |
Total assets | 912 | 820 | 912 | 820 | ' |
Clean Air Division [Member] | Asia Pacific | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 210 | 179 | 596 | 504 | ' |
Intersegment revenues | 0 | 0 | 0 | 0 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 22 | 20 | 58 | 50 | ' |
Total assets | 515 | 401 | 515 | 401 | ' |
Ride Performance Division [Member] | North America [Member] | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 321 | 299 | 952 | 941 | ' |
Intersegment revenues | 3 | 3 | 8 | 8 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 33 | 35 | 94 | 107 | ' |
Total assets | 696 | 617 | 696 | 617 | ' |
Ride Performance Division [Member] | Europe [Member] | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 258 | 245 | 791 | 793 | ' |
Intersegment revenues | 10 | 11 | 31 | 39 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | -40 | 10 | -16 | 36 | ' |
Total assets | 584 | 582 | 584 | 582 | ' |
Ride Performance Division [Member] | Asia Pacific | ' | ' | ' | ' | ' |
Segment Reporting [Line Items] | ' | ' | ' | ' | ' |
Revenues from external customers | 56 | 49 | 160 | 132 | ' |
Intersegment revenues | 8 | 7 | 23 | 23 | ' |
EBIT, Earnings (loss) before interest expense, income taxes, and noncontrolling interests | 5 | 3 | 15 | 3 | ' |
Total assets | $213 | $202 | $213 | $202 | ' |
Segment_Information_Segment_In
Segment Information Segment Information Textuals (Details) | 9 Months Ended |
Sep. 30, 2013 | |
operating_segment | |
product_segment | |
geographic_segment | |
Segment Reporting [Abstract] | ' |
Number of reportable segments | 3 |
Number of product segments | 2 |
Number of operating segments | 6 |
Supplemental_Guarantor_Condens2
Supplemental Guarantor Condensed Consolidating Financial Statements - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Ownership percentage of existing and future material domestic owned subsidiaries | 100.00% |
Statement_of_Comprehensive_Inc
Statement of Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net sales and operating revenues — | ' | ' | ' | ' |
External | $1,963 | $1,778 | $5,933 | $5,610 |
Affiliated companies | 0 | 0 | 0 | 0 |
Net sales and operating revenues | 1,963 | 1,778 | 5,933 | 5,610 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | 1,691 | 1,494 | 5,031 | 4,696 |
Goodwill impairment charge | ' | ' | 0 | 0 |
Engineering, research, and development | 35 | 28 | 103 | 94 |
Selling, general, and administrative | 112 | 94 | 337 | 321 |
Depreciation and amortization of other intangibles | 51 | 49 | 151 | 148 |
Costs and expenses | 1,889 | 1,665 | 5,622 | 5,259 |
Other income (expense) | ' | ' | ' | ' |
Loss on sale of receivables | -1 | -1 | -3 | -3 |
Other income (loss) | -1 | -1 | -2 | -4 |
Total other income (expense) | -2 | -2 | -5 | -7 |
Earnings before interest expense, income taxes, and noncontrolling interests | 72 | 111 | 306 | 344 |
Interest expense — | ' | ' | ' | ' |
External (net of interest capitalized) | 20 | 21 | 60 | 84 |
Affiliated companies (net of interest income) | 0 | 0 | 0 | 0 |
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 52 | 90 | 246 | 260 |
Income tax (benefit) expense | 30 | -42 | 89 | -3 |
Equity in net income (loss) from affiliated companies | 0 | 0 | 0 | 0 |
Net income | 22 | 132 | 157 | 263 |
Less: Net income attributable to noncontrolling interests | 10 | 7 | 28 | 21 |
Net income attributable to Tenneco Inc. | 12 | 125 | 129 | 242 |
Comprehensive income (loss) attributable to Tenneco Inc. | 38 | 142 | 115 | 250 |
Guarantor Subsidiaries | ' | ' | ' | ' |
Net sales and operating revenues — | ' | ' | ' | ' |
External | 864 | 792 | 2,620 | 2,579 |
Affiliated companies | 89 | 43 | 260 | 139 |
Net sales and operating revenues | 953 | 835 | 2,880 | 2,718 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | 827 | 771 | 2,345 | 2,389 |
Goodwill impairment charge | ' | ' | 0 | 0 |
Engineering, research, and development | 16 | 14 | 45 | 42 |
Selling, general, and administrative | 42 | 26 | 140 | 103 |
Depreciation and amortization of other intangibles | 20 | 18 | 58 | 54 |
Costs and expenses | 905 | 829 | 2,588 | 2,588 |
Other income (expense) | ' | ' | ' | ' |
Loss on sale of receivables | 0 | 0 | 0 | 0 |
Other income (loss) | 6 | 13 | 39 | 59 |
Total other income (expense) | 6 | 13 | 39 | 59 |
Earnings before interest expense, income taxes, and noncontrolling interests | 54 | 19 | 331 | 189 |
Interest expense — | ' | ' | ' | ' |
External (net of interest capitalized) | 0 | 0 | -1 | 0 |
Affiliated companies (net of interest income) | 17 | 57 | 53 | 169 |
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 37 | -38 | 279 | 20 |
Income tax (benefit) expense | -12 | -77 | 34 | -70 |
Equity in net income (loss) from affiliated companies | -10 | 73 | -13 | 170 |
Net income | 39 | 112 | 232 | 260 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to Tenneco Inc. | 39 | 112 | 232 | 260 |
Comprehensive income (loss) attributable to Tenneco Inc. | 50 | 117 | 243 | 262 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Net sales and operating revenues — | ' | ' | ' | ' |
External | 1,099 | 986 | 3,313 | 3,031 |
Affiliated companies | 139 | 123 | 430 | 420 |
Net sales and operating revenues | 1,238 | 1,109 | 3,743 | 3,451 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | 1,093 | 889 | 3,376 | 2,866 |
Goodwill impairment charge | ' | ' | 0 | 0 |
Engineering, research, and development | 19 | 14 | 58 | 52 |
Selling, general, and administrative | 68 | 67 | 192 | 214 |
Depreciation and amortization of other intangibles | 31 | 31 | 93 | 94 |
Costs and expenses | 1,211 | 1,001 | 3,719 | 3,226 |
Other income (expense) | ' | ' | ' | ' |
Loss on sale of receivables | -1 | -1 | -3 | -3 |
Other income (loss) | 2 | -11 | 7 | -21 |
Total other income (expense) | 1 | -12 | 4 | -24 |
Earnings before interest expense, income taxes, and noncontrolling interests | 28 | 96 | 28 | 201 |
Interest expense — | ' | ' | ' | ' |
External (net of interest capitalized) | 1 | 1 | 3 | 3 |
Affiliated companies (net of interest income) | -17 | -21 | -54 | -63 |
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | 44 | 116 | 79 | 261 |
Income tax (benefit) expense | 42 | 35 | 55 | 67 |
Equity in net income (loss) from affiliated companies | 0 | 0 | 0 | 0 |
Net income | 2 | 81 | 24 | 194 |
Less: Net income attributable to noncontrolling interests | 10 | 7 | 28 | 21 |
Net income attributable to Tenneco Inc. | -8 | 74 | -4 | 173 |
Comprehensive income (loss) attributable to Tenneco Inc. | 7 | 86 | -29 | 179 |
Tenneco Inc | ' | ' | ' | ' |
Net sales and operating revenues — | ' | ' | ' | ' |
External | 0 | 0 | 0 | 0 |
Affiliated companies | 0 | ' | 0 | 0 |
Net sales and operating revenues | 0 | 0 | 0 | 0 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | 0 | 0 | 0 | 0 |
Goodwill impairment charge | ' | ' | 0 | 0 |
Engineering, research, and development | 0 | 0 | 0 | 0 |
Selling, general, and administrative | 2 | 1 | 5 | 4 |
Depreciation and amortization of other intangibles | 0 | 0 | 0 | 0 |
Costs and expenses | 2 | 1 | 5 | 4 |
Other income (expense) | ' | ' | ' | ' |
Loss on sale of receivables | 0 | 0 | 0 | 0 |
Other income (loss) | 0 | 0 | 0 | 0 |
Total other income (expense) | 0 | 0 | 0 | 0 |
Earnings before interest expense, income taxes, and noncontrolling interests | -2 | -1 | -5 | -4 |
Interest expense — | ' | ' | ' | ' |
External (net of interest capitalized) | 19 | 20 | 58 | 81 |
Affiliated companies (net of interest income) | 0 | -36 | 1 | -106 |
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | -21 | 15 | -64 | 21 |
Income tax (benefit) expense | ' | 0 | 0 | 0 |
Equity in net income (loss) from affiliated companies | 33 | 110 | 193 | 221 |
Net income | 12 | 125 | 129 | 242 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to Tenneco Inc. | 12 | 125 | 129 | 242 |
Comprehensive income (loss) attributable to Tenneco Inc. | 12 | 125 | 129 | 242 |
Reclass & Elims | ' | ' | ' | ' |
Net sales and operating revenues — | ' | ' | ' | ' |
External | 0 | 0 | 0 | 0 |
Affiliated companies | -228 | -166 | -690 | -559 |
Net sales and operating revenues | -228 | -166 | -690 | -559 |
Costs and expenses | ' | ' | ' | ' |
Cost of sales (exclusive of depreciation and amortization shown below) | -229 | -166 | -690 | -559 |
Goodwill impairment charge | ' | ' | 0 | 0 |
Engineering, research, and development | 0 | 0 | 0 | 0 |
Selling, general, and administrative | 0 | 0 | 0 | 0 |
Depreciation and amortization of other intangibles | 0 | 0 | 0 | 0 |
Costs and expenses | -229 | -166 | -690 | -559 |
Other income (expense) | ' | ' | ' | ' |
Loss on sale of receivables | 0 | 0 | 0 | 0 |
Other income (loss) | -9 | -3 | -48 | -42 |
Total other income (expense) | -9 | -3 | -48 | -42 |
Earnings before interest expense, income taxes, and noncontrolling interests | -8 | -3 | -48 | -42 |
Interest expense — | ' | ' | ' | ' |
External (net of interest capitalized) | 0 | 0 | ' | 0 |
Affiliated companies (net of interest income) | 0 | 0 | 0 | 0 |
Earnings (loss) before income taxes, noncontrolling interests, and equity in net income from affiliated companies | -8 | -3 | -48 | -42 |
Income tax (benefit) expense | ' | 0 | 0 | 0 |
Equity in net income (loss) from affiliated companies | -23 | -183 | -180 | -391 |
Net income | -31 | -186 | -228 | -433 |
Less: Net income attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net income attributable to Tenneco Inc. | -31 | -186 | -228 | -433 |
Comprehensive income (loss) attributable to Tenneco Inc. | ($31) | ($186) | ($228) | ($433) |
Balance_Sheet_Detail
Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | $276 | $235 | $223 | $207 | $181 | $214 |
Restricted cash | 5 | ' | 0 | ' | ' | ' |
Receivables, net | 1,255 | ' | 986 | ' | ' | ' |
Inventories | 699 | ' | 667 | ' | ' | ' |
Deferred income taxes | 76 | ' | 72 | ' | ' | ' |
Prepayments and other | 268 | ' | 176 | ' | ' | ' |
Total current assets | 2,579 | ' | 2,124 | ' | ' | ' |
Other assets: | ' | ' | ' | ' | ' | ' |
Investment in affiliated companies | 0 | ' | 0 | ' | ' | ' |
Notes and advances receivable from affiliates | 0 | ' | 0 | ' | ' | ' |
Long-term receivables, net | 8 | ' | 4 | ' | ' | ' |
Goodwill | 70 | ' | 72 | ' | ' | ' |
Intangibles, net | 31 | ' | 35 | ' | ' | ' |
Deferred income taxes | 158 | ' | 116 | ' | ' | ' |
Other | 120 | ' | 135 | ' | ' | ' |
Total other assets | 387 | ' | 362 | ' | ' | ' |
Plant, property, and equipment, at cost | 3,423 | ' | 3,365 | ' | ' | ' |
Less — Accumulated depreciation and amortization | -2,290 | ' | -2,243 | ' | ' | ' |
Plant, property and equipment, net | 1,133 | ' | 1,122 | ' | ' | ' |
Total Assets | 4,099 | ' | 3,608 | 3,702 | ' | ' |
Short-term debt (including current maturities of long-term debt) | ' | ' | ' | ' | ' | ' |
Short-term debt — non-affiliated | 131 | ' | 113 | ' | ' | ' |
Short-term debt — affiliated | 0 | ' | 0 | ' | ' | ' |
Trade payables | 1,288 | ' | 1,186 | ' | ' | ' |
Accrued taxes | 45 | ' | 50 | ' | ' | ' |
Other | 388 | ' | 300 | ' | ' | ' |
Total current liabilities | 1,852 | ' | 1,649 | ' | ' | ' |
Long-term debt — non-affiliated | 1,226 | ' | 1,067 | ' | ' | ' |
Long-term debt — affiliated | 0 | ' | 0 | ' | ' | ' |
Deferred income taxes | 25 | ' | 27 | ' | ' | ' |
Postretirement benefits and other liabilities | 557 | ' | 559 | ' | ' | ' |
Total liabilities | 3,660 | ' | 3,302 | ' | ' | ' |
Redeemable noncontrolling interests | 15 | ' | 15 | ' | ' | ' |
Tenneco Inc. shareholders’ equity | 380 | ' | 246 | ' | ' | ' |
Noncontrolling interests | 44 | ' | 45 | ' | ' | ' |
Total equity | 424 | ' | 291 | 284 | ' | ' |
Total liabilities, redeemable noncontrolling interests and equity | 4,099 | ' | 3,608 | ' | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 3 | 1 | 4 | 4 | 0 | 1 |
Restricted cash | 0 | ' | ' | ' | ' | ' |
Receivables, net | 451 | ' | 341 | ' | ' | ' |
Inventories | 288 | ' | 278 | ' | ' | ' |
Deferred income taxes | 91 | ' | 91 | ' | ' | ' |
Prepayments and other | 39 | ' | 28 | ' | ' | ' |
Total current assets | 872 | ' | 742 | ' | ' | ' |
Other assets: | ' | ' | ' | ' | ' | ' |
Investment in affiliated companies | 629 | ' | 551 | ' | ' | ' |
Notes and advances receivable from affiliates | 971 | ' | 957 | ' | ' | ' |
Long-term receivables, net | 6 | ' | 2 | ' | ' | ' |
Goodwill | 22 | ' | 21 | ' | ' | ' |
Intangibles, net | 14 | ' | 18 | ' | ' | ' |
Deferred income taxes | 112 | ' | 55 | ' | ' | ' |
Other | 47 | ' | 31 | ' | ' | ' |
Total other assets | 1,801 | ' | 1,635 | ' | ' | ' |
Plant, property, and equipment, at cost | 1,145 | ' | 1,098 | ' | ' | ' |
Less — Accumulated depreciation and amortization | -792 | ' | -763 | ' | ' | ' |
Plant, property and equipment, net | 353 | ' | 335 | ' | ' | ' |
Total Assets | 3,026 | ' | 2,712 | ' | ' | ' |
Short-term debt (including current maturities of long-term debt) | ' | ' | ' | ' | ' | ' |
Short-term debt — non-affiliated | 0 | ' | 0 | ' | ' | ' |
Short-term debt — affiliated | 50 | ' | 250 | ' | ' | ' |
Trade payables | 468 | ' | 423 | ' | ' | ' |
Accrued taxes | 14 | ' | 16 | ' | ' | ' |
Other | 136 | ' | 135 | ' | ' | ' |
Total current liabilities | 668 | ' | 824 | ' | ' | ' |
Long-term debt — non-affiliated | 0 | ' | 0 | ' | ' | ' |
Long-term debt — affiliated | 1,620 | ' | 1,447 | ' | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' | ' |
Postretirement benefits and other liabilities | 458 | ' | 438 | ' | ' | ' |
Total liabilities | 2,746 | ' | 2,709 | ' | ' | ' |
Redeemable noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Tenneco Inc. shareholders’ equity | 280 | ' | 3 | ' | ' | ' |
Noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Total equity | 280 | ' | 3 | ' | ' | ' |
Total liabilities, redeemable noncontrolling interests and equity | 3,026 | ' | 2,712 | ' | ' | ' |
Nonguarantor Subsidiaries | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 273 | 234 | 219 | 203 | 181 | 213 |
Restricted cash | 5 | ' | ' | ' | ' | ' |
Receivables, net | 1,223 | ' | 1,268 | ' | ' | ' |
Inventories | 411 | ' | 389 | ' | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' | ' |
Prepayments and other | 229 | ' | 148 | ' | ' | ' |
Total current assets | 2,141 | ' | 2,024 | ' | ' | ' |
Other assets: | ' | ' | ' | ' | ' | ' |
Investment in affiliated companies | 0 | ' | 0 | ' | ' | ' |
Notes and advances receivable from affiliates | 6,535 | ' | 4,495 | ' | ' | ' |
Long-term receivables, net | 2 | ' | 2 | ' | ' | ' |
Goodwill | 48 | ' | 51 | ' | ' | ' |
Intangibles, net | 17 | ' | 17 | ' | ' | ' |
Deferred income taxes | 10 | ' | 1 | ' | ' | ' |
Other | 48 | ' | 75 | ' | ' | ' |
Total other assets | 6,660 | ' | 4,641 | ' | ' | ' |
Plant, property, and equipment, at cost | 2,278 | ' | 2,267 | ' | ' | ' |
Less — Accumulated depreciation and amortization | -1,498 | ' | -1,480 | ' | ' | ' |
Plant, property and equipment, net | 780 | ' | 787 | ' | ' | ' |
Total Assets | 9,581 | ' | 7,452 | ' | ' | ' |
Short-term debt (including current maturities of long-term debt) | ' | ' | ' | ' | ' | ' |
Short-term debt — non-affiliated | 131 | ' | 112 | ' | ' | ' |
Short-term debt — affiliated | 206 | ' | 173 | ' | ' | ' |
Trade payables | 948 | ' | 954 | ' | ' | ' |
Accrued taxes | 31 | ' | 34 | ' | ' | ' |
Other | 300 | ' | 210 | ' | ' | ' |
Total current liabilities | 1,616 | ' | 1,483 | ' | ' | ' |
Long-term debt — non-affiliated | 8 | ' | 8 | ' | ' | ' |
Long-term debt — affiliated | 6,580 | ' | 4,533 | ' | ' | ' |
Deferred income taxes | 25 | ' | 27 | ' | ' | ' |
Postretirement benefits and other liabilities | 95 | ' | 118 | ' | ' | ' |
Total liabilities | 8,324 | ' | 6,169 | ' | ' | ' |
Redeemable noncontrolling interests | 15 | ' | 15 | ' | ' | ' |
Tenneco Inc. shareholders’ equity | 1,198 | ' | 1,223 | ' | ' | ' |
Noncontrolling interests | 44 | ' | 45 | ' | ' | ' |
Total equity | 1,242 | ' | 1,268 | ' | ' | ' |
Total liabilities, redeemable noncontrolling interests and equity | 9,581 | ' | 7,452 | ' | ' | ' |
Tenneco Inc | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 |
Restricted cash | 0 | ' | ' | ' | ' | ' |
Receivables, net | 16 | ' | 30 | ' | ' | ' |
Inventories | 0 | ' | 0 | ' | ' | ' |
Deferred income taxes | 6 | ' | 6 | ' | ' | ' |
Prepayments and other | 0 | ' | 0 | ' | ' | ' |
Total current assets | 22 | ' | 36 | ' | ' | ' |
Other assets: | ' | ' | ' | ' | ' | ' |
Investment in affiliated companies | 889 | ' | 717 | ' | ' | ' |
Notes and advances receivable from affiliates | 4,760 | ' | 4,594 | ' | ' | ' |
Long-term receivables, net | 0 | ' | 0 | ' | ' | ' |
Goodwill | 0 | ' | 0 | ' | ' | ' |
Intangibles, net | 0 | ' | 0 | ' | ' | ' |
Deferred income taxes | 36 | ' | 60 | ' | ' | ' |
Other | 25 | ' | 29 | ' | ' | ' |
Total other assets | 5,710 | ' | 5,400 | ' | ' | ' |
Plant, property, and equipment, at cost | 0 | ' | 0 | ' | ' | ' |
Less — Accumulated depreciation and amortization | 0 | ' | 0 | ' | ' | ' |
Plant, property and equipment, net | 0 | ' | 0 | ' | ' | ' |
Total Assets | 5,732 | ' | 5,436 | ' | ' | ' |
Short-term debt (including current maturities of long-term debt) | ' | ' | ' | ' | ' | ' |
Short-term debt — non-affiliated | 0 | ' | 1 | ' | ' | ' |
Short-term debt — affiliated | 10 | ' | 10 | ' | ' | ' |
Trade payables | 0 | ' | 0 | ' | ' | ' |
Accrued taxes | 0 | ' | 0 | ' | ' | ' |
Other | 14 | ' | 9 | ' | ' | ' |
Total current liabilities | 24 | ' | 20 | ' | ' | ' |
Long-term debt — non-affiliated | 1,218 | ' | 1,059 | ' | ' | ' |
Long-term debt — affiliated | 4,066 | ' | 4,066 | ' | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' | ' |
Postretirement benefits and other liabilities | 0 | ' | 0 | ' | ' | ' |
Total liabilities | 5,308 | ' | 5,145 | ' | ' | ' |
Redeemable noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Tenneco Inc. shareholders’ equity | 424 | ' | 291 | ' | ' | ' |
Noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Total equity | 424 | ' | 291 | ' | ' | ' |
Total liabilities, redeemable noncontrolling interests and equity | 5,732 | ' | 5,436 | ' | ' | ' |
Reclass & Elims | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | ' | 0 | ' | ' | ' |
Restricted cash | 0 | ' | ' | ' | ' | ' |
Receivables, net | -435 | ' | -653 | ' | ' | ' |
Inventories | 0 | ' | 0 | ' | ' | ' |
Deferred income taxes | -21 | ' | -25 | ' | ' | ' |
Prepayments and other | 0 | ' | 0 | ' | ' | ' |
Total current assets | -456 | ' | -678 | ' | ' | ' |
Other assets: | ' | ' | ' | ' | ' | ' |
Investment in affiliated companies | -1,518 | ' | -1,268 | ' | ' | ' |
Notes and advances receivable from affiliates | -12,266 | ' | -10,046 | ' | ' | ' |
Long-term receivables, net | 0 | ' | 0 | ' | ' | ' |
Goodwill | 0 | ' | 0 | ' | ' | ' |
Intangibles, net | 0 | ' | 0 | ' | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' | ' |
Other | 0 | ' | 0 | ' | ' | ' |
Total other assets | -13,784 | ' | -11,314 | ' | ' | ' |
Plant, property, and equipment, at cost | 0 | ' | 0 | ' | ' | ' |
Less — Accumulated depreciation and amortization | 0 | ' | 0 | ' | ' | ' |
Plant, property and equipment, net | 0 | ' | 0 | ' | ' | ' |
Total Assets | -14,240 | ' | -11,992 | ' | ' | ' |
Short-term debt (including current maturities of long-term debt) | ' | ' | ' | ' | ' | ' |
Short-term debt — non-affiliated | 0 | ' | 0 | ' | ' | ' |
Short-term debt — affiliated | -266 | ' | -433 | ' | ' | ' |
Trade payables | -128 | ' | -191 | ' | ' | ' |
Accrued taxes | 0 | ' | 0 | ' | ' | ' |
Other | -62 | ' | -54 | ' | ' | ' |
Total current liabilities | -456 | ' | -678 | ' | ' | ' |
Long-term debt — non-affiliated | 0 | ' | 0 | ' | ' | ' |
Long-term debt — affiliated | -12,266 | ' | -10,046 | ' | ' | ' |
Deferred income taxes | 0 | ' | 0 | ' | ' | ' |
Postretirement benefits and other liabilities | 4 | ' | 3 | ' | ' | ' |
Total liabilities | -12,718 | ' | -10,721 | ' | ' | ' |
Redeemable noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Tenneco Inc. shareholders’ equity | -1,522 | ' | -1,271 | ' | ' | ' |
Noncontrolling interests | 0 | ' | 0 | ' | ' | ' |
Total equity | -1,522 | ' | -1,271 | ' | ' | ' |
Total liabilities, redeemable noncontrolling interests and equity | ($14,240) | ' | ($11,992) | ' | ' | ' |
Statement_of_Cash_Flows_Detail
Statement of Cash Flows (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities | ' | ' | ' | ' |
Net cash provided (used) by operating activities | $50 | $125 | $91 | $126 |
Investing Activities | ' | ' | ' | ' |
Proceeds from sale of assets | 4 | 1 | 6 | 2 |
Cash payments for plant, property, and equipment | -54 | -70 | -178 | -195 |
Cash payments for software related intangible assets | -7 | -3 | -19 | -10 |
Cash payments for net assets purchased | ' | -7 | ' | -7 |
Changes in restricted cash | 0 | 0 | -5 | 0 |
Net cash (used) by investing activities | -57 | -79 | -196 | -210 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 4 | 0 | 17 | 0 |
Tax benefit from stock-based compensation | 17 | 0 | 17 | 0 |
Retirement of long-term debt | -5 | -3 | -13 | -406 |
Issuance of long-term debt | 0 | 0 | 0 | 250 |
Debt issuance cost of long-term debt | 0 | 0 | 0 | -13 |
Purchase of common stock under the share repurchase program | -18 | 0 | -20 | -18 |
Increase (decrease) in bank overdrafts | -38 | 2 | -3 | 2 |
Net Increase Decrease In Revolver Borrowings And Short Term Debt Excluding Current Maturities Of Long Term Debt And Short Term Borrowings Secured By Accounts Receivable | 84 | -19 | 191 | 217 |
Increase Decrease In Secured Short Term Debt | ' | ' | ' | 60 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 0 | 0 | 0 | 0 |
Capital contribution from noncontrolling interest partners | 0 | 4 | 0 | 5 |
Distributions to noncontrolling interest partners | -6 | -9 | -29 | -27 |
Net cash provided (used) by financing activities | 38 | -25 | 160 | 70 |
Effect of foreign exchange rate changes on cash and cash equivalents | 10 | 5 | -2 | 7 |
Increase (decrease) in cash and cash equivalents | 41 | 26 | 53 | -7 |
Cash and cash equivalents, July 1 and January 1, respectively | 235 | 181 | 223 | 214 |
Cash and cash equivalents, September 30 (Note) | 276 | 207 | 276 | 207 |
Guarantor Subsidiaries | ' | ' | ' | ' |
Operating Activities | ' | ' | ' | ' |
Net cash provided (used) by operating activities | 21 | 107 | 6 | 231 |
Investing Activities | ' | ' | ' | ' |
Proceeds from sale of assets | 0 | 0 | 1 | 0 |
Cash payments for plant, property, and equipment | -21 | -32 | -76 | -79 |
Cash payments for software related intangible assets | -6 | -3 | -15 | -5 |
Cash payments for net assets purchased | ' | -7 | ' | -7 |
Changes in restricted cash | ' | ' | 0 | ' |
Net cash (used) by investing activities | -27 | -42 | -90 | -91 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 0 | ' | 0 | ' |
Tax benefit from stock-based compensation | 17 | ' | 17 | ' |
Retirement of long-term debt | 0 | 0 | 0 | 0 |
Issuance of long-term debt | ' | ' | ' | 0 |
Debt issuance cost of long-term debt | ' | ' | ' | 0 |
Purchase of common stock under the share repurchase program | 0 | ' | 0 | 0 |
Increase (decrease) in bank overdrafts | -40 | 0 | 0 | 0 |
Net Increase Decrease In Revolver Borrowings And Short Term Debt Excluding Current Maturities Of Long Term Debt And Short Term Borrowings Secured By Accounts Receivable | 0 | 0 | 0 | 0 |
Increase Decrease In Secured Short Term Debt | ' | ' | ' | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 31 | -61 | 66 | -137 |
Capital contribution from noncontrolling interest partners | ' | 0 | ' | 0 |
Distributions to noncontrolling interest partners | 0 | 0 | 0 | 0 |
Net cash provided (used) by financing activities | 8 | -61 | 83 | -137 |
Effect of foreign exchange rate changes on cash and cash equivalents | 0 | 0 | 0 | 0 |
Increase (decrease) in cash and cash equivalents | 2 | 4 | -1 | 3 |
Cash and cash equivalents, July 1 and January 1, respectively | 1 | 0 | 4 | 1 |
Cash and cash equivalents, September 30 (Note) | 3 | 4 | 3 | 4 |
Non-Guarantor Subsidiaries | ' | ' | ' | ' |
Operating Activities | ' | ' | ' | ' |
Net cash provided (used) by operating activities | 16 | 69 | 104 | 72 |
Investing Activities | ' | ' | ' | ' |
Proceeds from sale of assets | 4 | 1 | 5 | 2 |
Cash payments for plant, property, and equipment | -33 | -38 | -102 | -116 |
Cash payments for software related intangible assets | -1 | 0 | -4 | -5 |
Cash payments for net assets purchased | ' | ' | ' | 0 |
Changes in restricted cash | ' | ' | -5 | ' |
Net cash (used) by investing activities | -30 | -37 | -106 | -119 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 0 | ' | 0 | ' |
Tax benefit from stock-based compensation | 0 | ' | 0 | ' |
Retirement of long-term debt | -1 | 0 | -2 | -1 |
Issuance of long-term debt | ' | ' | ' | 0 |
Debt issuance cost of long-term debt | ' | ' | ' | 0 |
Purchase of common stock under the share repurchase program | 0 | ' | 0 | 0 |
Increase (decrease) in bank overdrafts | 2 | 2 | -3 | 2 |
Net Increase Decrease In Revolver Borrowings And Short Term Debt Excluding Current Maturities Of Long Term Debt And Short Term Borrowings Secured By Accounts Receivable | 12 | -1 | 22 | 67 |
Increase Decrease In Secured Short Term Debt | ' | ' | ' | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 36 | -11 | 70 | -16 |
Capital contribution from noncontrolling interest partners | ' | 4 | ' | 5 |
Distributions to noncontrolling interest partners | -6 | -9 | -29 | -27 |
Net cash provided (used) by financing activities | 43 | -15 | 58 | 30 |
Effect of foreign exchange rate changes on cash and cash equivalents | 10 | 5 | -2 | 7 |
Increase (decrease) in cash and cash equivalents | 39 | 22 | 54 | -10 |
Cash and cash equivalents, July 1 and January 1, respectively | 234 | 181 | 219 | 213 |
Cash and cash equivalents, September 30 (Note) | 273 | 203 | 273 | 203 |
Tenneco Inc | ' | ' | ' | ' |
Operating Activities | ' | ' | ' | ' |
Net cash provided (used) by operating activities | 13 | -51 | -19 | -177 |
Investing Activities | ' | ' | ' | ' |
Proceeds from sale of assets | 0 | 0 | 0 | 0 |
Cash payments for plant, property, and equipment | 0 | 0 | 0 | 0 |
Cash payments for software related intangible assets | 0 | 0 | 0 | 0 |
Cash payments for net assets purchased | ' | ' | ' | 0 |
Changes in restricted cash | ' | ' | 0 | ' |
Net cash (used) by investing activities | 0 | 0 | 0 | 0 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 4 | ' | 17 | ' |
Tax benefit from stock-based compensation | 0 | ' | 0 | ' |
Retirement of long-term debt | -4 | -3 | -11 | -405 |
Issuance of long-term debt | ' | ' | ' | 250 |
Debt issuance cost of long-term debt | ' | ' | ' | -13 |
Purchase of common stock under the share repurchase program | -18 | ' | -20 | -18 |
Increase (decrease) in bank overdrafts | ' | 0 | 0 | 0 |
Net Increase Decrease In Revolver Borrowings And Short Term Debt Excluding Current Maturities Of Long Term Debt And Short Term Borrowings Secured By Accounts Receivable | 72 | -18 | 169 | 150 |
Increase Decrease In Secured Short Term Debt | ' | ' | ' | 60 |
Intercompany dividends and net increase (decrease) in intercompany obligations | -67 | 72 | -136 | 153 |
Capital contribution from noncontrolling interest partners | ' | 0 | ' | 0 |
Distributions to noncontrolling interest partners | 0 | 0 | ' | 0 |
Net cash provided (used) by financing activities | -13 | 51 | 19 | 177 |
Effect of foreign exchange rate changes on cash and cash equivalents | 0 | 0 | 0 | 0 |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 | 0 |
Cash and cash equivalents, July 1 and January 1, respectively | 0 | 0 | 0 | 0 |
Cash and cash equivalents, September 30 (Note) | 0 | 0 | 0 | 0 |
Reclass and Elims | ' | ' | ' | ' |
Operating Activities | ' | ' | ' | ' |
Net cash provided (used) by operating activities | 0 | 0 | 0 | 0 |
Investing Activities | ' | ' | ' | ' |
Proceeds from sale of assets | 0 | 0 | 0 | 0 |
Cash payments for plant, property, and equipment | 0 | 0 | 0 | 0 |
Cash payments for software related intangible assets | 0 | 0 | 0 | 0 |
Cash payments for net assets purchased | ' | ' | ' | 0 |
Changes in restricted cash | ' | ' | 0 | ' |
Net cash (used) by investing activities | 0 | 0 | 0 | 0 |
Financing Activities | ' | ' | ' | ' |
Issuance of common shares | 0 | ' | 0 | ' |
Tax benefit from stock-based compensation | 0 | ' | 0 | ' |
Retirement of long-term debt | 0 | 0 | ' | 0 |
Issuance of long-term debt | ' | ' | ' | 0 |
Debt issuance cost of long-term debt | ' | ' | ' | 0 |
Purchase of common stock under the share repurchase program | 0 | ' | 0 | 0 |
Increase (decrease) in bank overdrafts | 0 | 0 | 0 | 0 |
Net Increase Decrease In Revolver Borrowings And Short Term Debt Excluding Current Maturities Of Long Term Debt And Short Term Borrowings Secured By Accounts Receivable | 0 | 0 | 0 | 0 |
Increase Decrease In Secured Short Term Debt | ' | ' | ' | 0 |
Intercompany dividends and net increase (decrease) in intercompany obligations | 0 | 0 | 0 | 0 |
Capital contribution from noncontrolling interest partners | ' | 0 | ' | 0 |
Distributions to noncontrolling interest partners | 0 | 0 | 0 | 0 |
Net cash provided (used) by financing activities | 0 | 0 | 0 | 0 |
Effect of foreign exchange rate changes on cash and cash equivalents | 0 | 0 | 0 | 0 |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 | 0 |
Cash and cash equivalents, July 1 and January 1, respectively | 0 | 0 | 0 | 0 |
Cash and cash equivalents, September 30 (Note) | $0 | $0 | $0 | $0 |