Guarantor and Non-Guarantor Subsidiaries | 9 Months Ended |
Sep. 30, 2013 |
Text Block [Abstract] | ' |
Guarantor and Non-Guarantor Subsidiaries | ' |
16. Guarantor and Non-Guarantor Subsidiaries |
On May 27, 2010, Cooper-Standard Automotive Inc. (the “Issuer”), a wholly-owned subsidiary of Cooper-Standard Holdings Inc., issued 8 1/2% senior notes due 2018 (“the Senior Notes”) with a total principal amount of $450,000. Cooper-Standard Holdings Inc. and all wholly-owned domestic subsidiaries of Cooper-Standard Automotive Inc. (the “Guarantors”) unconditionally guarantee the Senior Notes. The following condensed consolidated financial data provides information regarding the financial position, results of operations, and cash flows of the Guarantors. The Guarantors account for their investments in the non-guarantor subsidiaries on the equity method. The principal elimination entries are to eliminate the investments in subsidiaries and intercompany balances and transactions. |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME |
For the Three Months Ended September 30, 2012 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Consolidated | |
Totals |
| | (dollars in millions) | |
Sales | | $ | — | | | $ | 135.1 | | | $ | 150.7 | | | $ | 441.4 | | | $ | (43.2 | ) | | $ | 684 | |
Cost of products sold | | | — | | | | 113 | | | | 129.1 | | | | 382 | | | | (43.2 | ) | | | 580.9 | |
Selling, administration, & engineering expenses | | | — | | | | 30.8 | | | | — | | | | 34.6 | | | | — | | | | 65.4 | |
Amortization of intangibles | | | — | | | | 2.8 | | | | — | | | | 1.1 | | | | — | | | | 3.9 | |
Restructuring | | | — | | | | 0.1 | | | | 0.2 | | | | 9.9 | | | | — | | | | 10.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (11.6 | ) | | | 21.4 | | | | 13.8 | | | | — | | | | 23.6 | |
Interest expense, net of interest income | | | — | | | | (8.3 | ) | | | — | | | | (3.0 | ) | | | — | | | | (11.3 | ) |
Equity earnings | | | — | | | | 1 | | | | 0.5 | | | | 0.9 | | | | — | | | | 2.4 | |
Other income (expense), net | | | — | | | | 8.7 | | | | (0.1 | ) | | | (7.5 | ) | | | — | | | | 1.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | — | | | | (10.2 | ) | | | 21.8 | | | | 4.2 | | | | — | | | | 15.8 | |
Income tax expense | | | — | | | | 0.3 | | | | 4.6 | | | | 0.5 | | | | — | | | | 5.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before equity in income of subsidiaries | | | — | | | | (10.5 | ) | | | 17.2 | | | | 3.7 | | | | — | | | | 10.4 | |
Equity in net income of subsidiaries | | | 11.6 | | | | 22.1 | | | | — | | | | — | | | | (33.7 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 11.6 | | | | 11.6 | | | | 17.2 | | | | 3.7 | | | | (33.7 | ) | | | 10.4 | |
Net income attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | 1.2 | | | | — | | | | 1.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Cooper-Standard Holdings Inc. | | $ | 11.6 | | | $ | 11.6 | | | $ | 17.2 | | | $ | 4.9 | | | $ | (33.7 | ) | | $ | 11.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 19.6 | | | $ | 19.6 | | | $ | 17.2 | | | $ | 11.5 | | | $ | (49.1 | ) | | $ | 18.8 | |
Add: comprehensive loss attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | 0.8 | | | | — | | | | 0.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | | $ | 19.6 | | | $ | 19.6 | | | $ | 17.2 | | | $ | 12.3 | | | $ | (49.1 | ) | | $ | 19.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME |
For the Three Months Ended September 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | Consolidated | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Totals | |
| | (dollar amounts in millions) | |
Sales | | $ | — | | | $ | 145.5 | | | $ | 167.8 | | | $ | 499.8 | | | $ | (49.1 | ) | | $ | 764 | |
Cost of products sold | | | — | | | | 126.1 | | | | 135.4 | | | | 436.6 | | | | (49.1 | ) | | | 649 | |
Selling, administration, & engineering expenses | | | — | | | | 33.7 | | | | (0.1 | ) | | | 39.4 | | | | — | | | | 73 | |
Amortization of intangibles | | | — | | | | 2.9 | | | | — | | | | 0.9 | | | | — | | | | 3.8 | |
Restructuring | | | — | | | | — | | | | — | | | | 1.9 | | | | — | | | | 1.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (17.2 | ) | | | 32.5 | | | | 21 | | | | — | | | | 36.3 | |
Interest expense, net of interest income | | | (4.0 | ) | | | (7.4 | ) | | | — | | | | (3.7 | ) | | | — | | | | (15.1 | ) |
Equity earnings | | | — | | | | 0.6 | | | | 1 | | | | 1.1 | | | | — | | | | 2.7 | |
Other income (expense), net | | | — | | | | 4.8 | | | | 0.1 | | | | (4.0 | ) | | | — | | | | 0.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (4.0 | ) | | | (19.2 | ) | | | 33.6 | | | | 14.4 | | | | — | | | | 24.8 | |
Income tax expense (benefit) | | | (2.0 | ) | | | (3.3 | ) | | | 7.7 | | | | 2.1 | | | | — | | | | 4.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before equity in income (loss) subsidiaries | | | (2.0 | ) | | | (15.9 | ) | | | 25.9 | | | | 12.3 | | | | — | | | | 20.3 | |
Equity in net income of subsidiaries | | | 22.6 | | | | 38.5 | | | | — | | | | — | | | | (61.1 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 20.6 | | | | 22.6 | | | | 25.9 | | | | 12.3 | | | | (61.1 | ) | | | 20.3 | |
Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | 0.3 | | | | — | | | | 0.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Cooper-Standard Holdings Inc. | | $ | 20.6 | | | $ | 22.6 | | | $ | 25.9 | | | $ | 12.6 | | | $ | (61.1 | ) | | $ | 20.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 34.5 | | | $ | 38.4 | | | $ | 25.9 | | | $ | 21.9 | | | $ | (86.8 | ) | | $ | 33.9 | |
Add: Comprehensive loss attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | 0.6 | | | | — | | | | 0.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | | $ | 34.5 | | | $ | 38.4 | | | $ | 25.9 | | | $ | 22.5 | | | $ | (86.8 | ) | | $ | 34.5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME |
For the Nine Months Ended September 30, 2012 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | Consolidated | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Totals | |
| | (dollars in millions) | |
Sales | | $ | — | | | $ | 429.7 | | | $ | 475.5 | | | $ | 1,420.20 | | | $ | (141.6 | ) | | $ | 2,183.80 | |
Cost of products sold | | | — | | | | 356.5 | | | | 401.9 | | | | 1,227.80 | | | | (141.6 | ) | | | 1,844.60 | |
Selling, administration, & engineering expenses | | | — | | | | 96.2 | | | | 0.9 | | | | 109.3 | | | | — | | | | 206.4 | |
Amortization of intangibles | | | — | | | | 8.5 | | | | — | | | | 3.1 | | | | — | | | | 11.6 | |
Restructuring | | | — | | | | 0.3 | | | | 0.3 | | | | 15.2 | | | | — | | | | 15.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (31.8 | ) | | | 72.4 | | | | 64.8 | | | | — | | | | 105.4 | |
Interest expense, net of interest income | | | — | | | | (24.9 | ) | | | — | | | | (8.4 | ) | | | — | | | | (33.3 | ) |
Equity earnings | | | — | | | | 0.5 | | | | 2.7 | | | | 2.7 | | | | — | | | | 5.9 | |
Other income (expense), net | | | — | | | | 26.6 | | | | 1 | | | | (28.1 | ) | | | — | | | | (0.5 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | — | | | | (29.6 | ) | | | 76.1 | | | | 31 | | | | — | | | | 77.5 | |
Income tax expense (benefit) | | | — | | | | 18.4 | | | | (48.5 | ) | | | (2.7 | ) | | | — | | | | (32.8 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before equity in income (loss) of subsidiaries | | | — | | | | (48.0 | ) | | | 124.6 | | | | 33.7 | | | | — | | | | 110.3 | |
Equity in net income of subsidiaries | | | 112.7 | | | | 160.7 | | | | — | | | | — | | | | (273.4 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 112.7 | | | | 112.7 | | | | 124.6 | | | | 33.7 | | | | (273.4 | ) | | | 110.3 | |
Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | 2.4 | | | | — | | | | 2.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Cooper-Standard Holdings Inc. | | $ | 112.7 | | | $ | 112.7 | | | $ | 124.6 | | | $ | 36.1 | | | $ | (273.4 | ) | | $ | 112.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 107.8 | | | $ | 107.8 | | | $ | 124.6 | | | $ | 29 | | | $ | (264.2 | ) | | $ | 105 | |
Add: comprehensive loss attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | 2.8 | | | | — | | | | 2.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | | $ | 107.8 | | | $ | 107.8 | | | $ | 124.6 | | | $ | 31.8 | | | $ | (264.2 | ) | | $ | 107.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME |
For the Nine Months Ended September 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | Consolidated | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Totals | |
| | (dollar amounts in millions) | |
Sales | | $ | — | | | $ | 437.7 | | | $ | 505.5 | | | $ | 1,501.50 | | | $ | (148.4 | ) | | $ | 2,296.30 | |
Cost of products sold | | | — | | | | 368.5 | | | | 402.8 | | | | 1,305.80 | | | | (148.4 | ) | | | 1,928.70 | |
Selling, administration, & engineering expenses | | | — | | | | 99.1 | | | | 2.7 | | | | 119 | | | | — | | | | 220.8 | |
Amortization of intangibles | | | — | | | | 8.6 | | | | — | | | | 2.9 | | | | — | | | | 11.5 | |
Restructuring | | | — | | | | 1.7 | | | | 0.2 | | | | 5.8 | | | | — | | | | 7.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (40.2 | ) | | | 99.8 | | | | 68 | | | | — | | | | 127.6 | |
Interest expense, net of interest income | | | (7.6 | ) | | | (23.5 | ) | | | — | | | | (8.9 | ) | | | — | | | | (40.0 | ) |
Equity earnings | | | — | | | | 2.5 | | | | 3.2 | | | | 3 | | | | — | | | | 8.7 | |
Other income (expense), net | | | — | | | | 18.3 | | | | 0.3 | | | | (24.0 | ) | | | — | | | | (5.4 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before income taxes | | | (7.6 | ) | | | (42.9 | ) | | | 103.3 | | | | 38.1 | | | | — | | | | 90.9 | |
Income tax expense (benefit) | | | (2.0 | ) | | | (11.3 | ) | | | 27.2 | | | | 10.7 | | | | — | | | | 24.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) before equity in income (loss) subsidiaries | | | (5.6 | ) | | | (31.6 | ) | | | 76.1 | | | | 27.4 | | | | — | | | | 66.3 | |
Equity in net income of subsidiaries | | | 74.3 | | | | 105.9 | | | | — | | | | — | | | | (180.2 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 68.7 | | | | 74.3 | | | | 76.1 | | | | 27.4 | | | | (180.2 | ) | | | 66.3 | |
Net loss attributable to noncontrolling interest | | | — | | | | — | | | | — | | | | 2.4 | | | | — | | | | 2.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to Cooper-Standard Holdings Inc. | | $ | 68.7 | | | $ | 74.3 | | | $ | 76.1 | | | $ | 29.8 | | | $ | (180.2 | ) | | $ | 68.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income | | $ | 60.1 | | | $ | 67.6 | | | $ | 76.1 | | | $ | 16.1 | | | $ | (162.2 | ) | | $ | 57.7 | |
Add: Comprehensive loss attributable to noncontrolling interests | | | — | | | | — | | | | — | | | | 2.4 | | | | — | | | | 2.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | | $ | 60.1 | | | $ | 67.6 | | | $ | 76.1 | | | $ | 18.5 | | | $ | (162.2 | ) | | $ | 60.1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
CONDENSED CONSOLIDATING BALANCE SHEET |
December 31, 2012 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Consolidated | |
Totals |
| | (dollar amounts in millions) | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 177.5 | | | $ | 4.4 | | | $ | 88.7 | | | $ | — | | | $ | 270.6 | |
Accounts receivable, net | | | — | | | | 54.8 | | | | 72.6 | | | | 222.7 | | | | — | | | | 350.1 | |
Tooling receivable | | | — | | | | 13.4 | | | | 12.1 | | | | 91.4 | | | | — | | | | 116.9 | |
Inventories | | | — | | | | 18.8 | | | | 28.5 | | | | 96 | | | | — | | | | 143.3 | |
Prepaid expenses | | | — | | | | 5.9 | | | | 0.3 | | | | 15.7 | | | | — | | | | 21.9 | |
Other | | | — | | | | 35.5 | | | | 0.6 | | | | 51.7 | | | | — | | | | 87.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 305.9 | | | | 118.5 | | | | 566.2 | | | | — | | | | 990.6 | |
Investments in affiliates and intercompany accounts, net | | | 628.3 | | | | 339.7 | | | | 998.7 | | | | (52.9 | ) | | | (1,851.6 | ) | | | 62.2 | |
Property, plant, and equipment, net | | | — | | | | 88.2 | | | | 56.5 | | | | 483.9 | | | | — | | | | 628.6 | |
Goodwill | | | — | | | | 111.1 | | | | — | | | | 22.6 | | | | — | | | | 133.7 | |
Other assets | | | — | | | | 80.9 | | | | 48.2 | | | | 81.8 | | | | — | | | | 210.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | $ | 628.3 | | | $ | 925.8 | | | $ | 1,221.90 | | | $ | 1,101.60 | | | $ | (1,851.6 | ) | | $ | 2,026.00 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES & EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Debt payable within one year | | $ | — | | | $ | — | | | $ | — | | | $ | 32.6 | | | $ | — | | | $ | 32.6 | |
Accounts payable | | | — | | | | 45.4 | | | | 41.3 | | | | 184.7 | | | | — | | | | 271.4 | |
Accrued liabilities | | | — | | | | 59.1 | | | | 5.4 | | | | 118.5 | | | | — | | | | 183 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 104.5 | | | | 46.7 | | | | 335.8 | | | | — | | | | 487 | |
Long-term debt | | | — | | | | 450 | | | | — | | | | 0.8 | | | | — | | | | 450.8 | |
Other liabilities | | | — | | | | 167.4 | | | | (0.2 | ) | | | 156 | | | | — | | | | 323.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 721.9 | | | | 46.5 | | | | 492.6 | | | | — | | | | 1,261.00 | |
Redeemable noncontrolling interests | | | — | | | | — | | | | — | | | | 14.2 | | | | — | | | | 14.2 | |
Preferred stock | | | — | | | | 121.6 | | | | — | | | | — | | | | — | | | | 121.6 | |
Total Cooper-Standard Holdings Inc. equity | | | 628.3 | | | | 82.3 | | | | 1,175.40 | | | | 593.9 | | | | (1,851.6 | ) | | | 628.3 | |
Noncontrolling interests | | | — | | | | — | | | | — | | | | 0.9 | | | | — | | | | 0.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | | 628.3 | | | | 82.3 | | | | 1,175.40 | | | | 594.8 | | | | (1,851.6 | ) | | | 629.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 628.3 | | | $ | 925.8 | | | $ | 1,221.90 | | | $ | 1,101.60 | | | $ | (1,851.6 | ) | | $ | 2,026.00 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
CONDENSED CONSOLIDATING BALANCE SHEET |
September 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Consolidated | |
Totals |
| | (dollar amounts in millions) | |
ASSETS | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | 20.4 | | | $ | 67.7 | | | $ | — | | | $ | 31.1 | | | $ | — | | | $ | 119.2 | |
Accounts receivable, net | | | — | | | | 73.1 | | | | 86.4 | | | | 270.2 | | | | — | | | | 429.7 | |
Tooling receivable | | | — | | | | 21.8 | | | | 14.1 | | | | 114 | | | | — | | | | 149.9 | |
Inventories | | | — | | | | 22 | | | | 33.1 | | | | 131.7 | | | | — | | | | 186.8 | |
Prepaid expenses | | | — | | | | 6 | | | | 0.4 | | | | 26.1 | | | | — | | | | 32.5 | |
Other | | | — | | | | 35.2 | | | | 0.4 | | | | 58.3 | | | | — | | | | 93.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | 20.4 | | | | 225.8 | | | | 134.4 | | | | 631.4 | | | | — | | | | 1,012.00 | |
Investments in affiliates and intercompany accounts, net | | | 678.5 | | | | 295.6 | | | | 1,112.90 | | | | (111.0 | ) | | | (1,912.2 | ) | | | 63.8 | |
Property, plant, and equipment, net | | | — | | | | 95.1 | | | | 58 | | | | 547.8 | | | | — | | | | 700.9 | |
Goodwill | | | — | | | | 111.1 | | | | — | | | | 22.9 | | | | — | | | | 134 | |
Other assets | | | 1.4 | | | | 111.2 | | | | 0.1 | | | | 70.1 | | | | — | | | | 182.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | $ | 700.3 | | | $ | 838.8 | | | $ | 1,305.40 | | | $ | 1,161.20 | | | $ | (1,912.2 | ) | | $ | 2,093.50 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
LIABILITIES & EQUITY | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Debt payable within one year | | $ | — | | | $ | — | | | $ | — | | | $ | 30.3 | | | $ | — | | | $ | 30.3 | |
Accounts payable | | | — | | | | 47.7 | | | | 48.6 | | | | 202.5 | | | | — | | | | 298.8 | |
Accrued liabilities | | | 7.3 | | | | 58.1 | | | | 5.3 | | | | 138.6 | | | | — | | | | 209.3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | 7.3 | | | | 105.8 | | | | 53.9 | | | | 371.4 | | | | — | | | | 538.4 | |
Long-term debt | | | 196.3 | | | | 450 | | | | — | | | | 2.7 | | | | — | | | | 649 | |
Other liabilities | | | — | | | | 141.2 | | | | (0.1 | ) | | | 152.3 | | | | — | | | | 293.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | 203.6 | | | | 697 | | | | 53.8 | | | | 526.4 | | | | — | | | | 1,480.80 | |
Redeemable noncontrolling interests | | | — | | | | — | | | | — | | | | 12.5 | | | | — | | | | 12.5 | |
Preferred stock | | | — | | | | 103.6 | | | | — | | | | — | | | | — | | | | 103.6 | |
Total Cooper-Standard Holdings Inc. equity | | | 496.7 | | | | 38.2 | | | | 1,251.60 | | | | 622.4 | | | | (1,912.2 | ) | | | 496.7 | |
Noncontrolling interests | | | — | | | | — | | | | — | | | | (0.1 | ) | | | — | | | | (0.1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total equity | | | 496.7 | | | | 38.2 | | | | 1,251.60 | | | | 622.3 | | | | (1,912.2 | ) | | | 496.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 700.3 | | | $ | 838.8 | | | $ | 1,305.40 | | | $ | 1,161.20 | | | $ | (1,912.2 | ) | | $ | 2,093.50 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended September 30, 2012 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Consolidated | |
Totals |
| | (dollars in millions) | |
OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | 5.1 | | | $ | (7.6 | ) | | $ | 8 | | | $ | (28.0 | ) | | $ | — | | | $ | (22.5 | ) |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures, including other intangible assets | | | — | | | | (19.9 | ) | | | (12.1 | ) | | | (59.5 | ) | | | — | | | | (91.5 | ) |
Acquisition of businesses, net of cash acquired | | | — | | | | — | | | | — | | | | (1.1 | ) | | | — | | | | (1.1 | ) |
Proceeds from the sale of fixed assets | | | — | | | | — | | | | 4.1 | | | | 4.9 | | | | — | | | | 9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (19.9 | ) | | | (8.0 | ) | | | (55.7 | ) | | | — | | | | (83.6 | ) |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Decrease in short-term debt | | | — | | | | — | | | | — | | | | (2.8 | ) | | | — | | | | (2.8 | ) |
Principal payments on long-term debt | | | — | | | | — | | | | — | | | | (4.3 | ) | | | — | | | | (4.3 | ) |
Repurchase of preferred and common stock | | | — | | | | (25.5 | ) | | | — | | | | — | | | | — | | | | (25.5 | ) |
Other | | | (5.1 | ) | | | (9.9 | ) | | | — | | | | 10.3 | | | | — | | | | (4.7 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | (5.1 | ) | | | (35.4 | ) | | | — | | | | 3.2 | | | | — | | | | (37.3 | ) |
Effects of exchange rate changes on cash and cash equivalents | | | — | | | | — | | | | — | | | | (0.5 | ) | | | — | | | | (0.5 | ) |
Changes in cash and cash equivalents | | | — | | | | (62.9 | ) | | | — | | | | (81.0 | ) | | | — | | | | (143.9 | ) |
Cash and cash equivalents at beginning of period | | | — | | | | 189.6 | | | | — | | | | 172.1 | | | | — | | | | 361.7 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 126.7 | | | $ | — | | | $ | 91.1 | | | $ | — | | | $ | 217.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | $ | — | | | $ | 21.3 | | | $ | 11 | | | $ | 58.9 | | | $ | — | | | $ | 91.2 | |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS |
For the Nine Months Ended September 30, 2013 |
|
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Parent | | | Issuer | | | Guarantors | | | Non-Guarantors | | | Eliminations | | | Consolidated | |
Totals |
| | (dollar amounts in millions) | |
OPERATING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | 5.2 | | | $ | (11.4 | ) | | $ | 7.1 | | | $ | 16.6 | | | $ | — | | | $ | 17.5 | |
INVESTING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Capital expenditures, including other intangible assets | | | — | | | | (20.0 | ) | | | (13.6 | ) | | | (99.2 | ) | | | — | | | | (132.8 | ) |
Acquisition of businesses, net of cash acquired | | | — | | | | 4 | | | | — | | | | (17.5 | ) | | | — | | | | (13.5 | ) |
Return on equity investments | | | — | | | | — | | | | 2.1 | | | | — | | | | — | | | | 2.1 | |
Proceeds from the sale of fixed assets and other | | | — | | | | — | | | | — | | | | 3.6 | | | | — | | | | 3.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | (16.0 | ) | | | (11.5 | ) | | | (113.1 | ) | | | — | | | | (140.6 | ) |
FINANCING ACTIVITIES | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | | | 194.4 | | | | — | | | | — | | | | — | | | | — | | | | 194.4 | |
Increase in short-term debt, net | | | — | | | | — | | | | — | | | | 1.6 | | | | — | | | | 1.6 | |
Principal payments on long-term debt | | | — | | | | — | | | | — | | | | (3.8 | ) | | | — | | | | (3.8 | ) |
Purchase of noncontrolling interest | | | — | | | | — | | | | — | | | | (1.9 | ) | | | — | | | | (1.9 | ) |
Repurchase of common stock | | | (174.4 | ) | | | (43.1 | ) | | | — | | | | — | | | | — | | | | (217.5 | ) |
Proceeds from exercise of warrants | | | — | | | | 11.3 | | | | — | | | | — | | | | — | | | | 11.3 | |
Other | | | (4.8 | ) | | | (50.6 | ) | | | — | | | | 45.2 | | | | — | | | | (10.2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | 15.2 | | | | (82.4 | ) | | | — | | | | 41.1 | | | | — | | | | (26.1 | ) |
Effects of exchange rate changes on cash and cash equivalents | | | — | | | | — | | | | — | | | | (2.2 | ) | | | — | | | | (2.2 | ) |
Changes in cash and cash equivalents | | | 20.4 | | | | (109.8 | ) | | | (4.4 | ) | | | (57.6 | ) | | | — | | | | (151.4 | ) |
Cash and cash equivalents at beginning of period | | | — | | | | 177.5 | | | | 4.4 | | | | 88.7 | | | | — | | | | 270.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | 20.4 | | | $ | 67.7 | | | $ | — | | | $ | 31.1 | | | $ | — | | | $ | 119.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Depreciation and amortization | | $ | — | | | $ | 21.2 | | | $ | 9.3 | | | $ | 52.8 | | | $ | — | | | $ | 83.3 | |