Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 30, 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 | ' |
Trading Symbol | 'CPS | ' |
Entity Registrant Name | 'Cooper-Standard Holdings Inc. | ' |
Entity Central Index Key | '0001320461 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 13,148,169 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Sales | $764,057 | $684,029 | $2,296,341 | $2,183,794 |
Cost of products sold | 649,028 | 580,956 | 1,928,735 | 1,844,616 |
Gross profit | 115,029 | 103,073 | 367,606 | 339,178 |
Selling, administration & engineering expenses | 72,968 | 65,421 | 220,807 | 206,432 |
Amortization of intangibles | 3,785 | 3,866 | 11,534 | 11,590 |
Restructuring | 1,907 | 10,171 | 7,755 | 15,758 |
Operating profit | 36,369 | 23,615 | 127,510 | 105,398 |
Interest expense, net of interest income | -15,171 | -11,325 | -39,953 | -33,326 |
Equity earnings | 2,595 | 2,342 | 8,693 | 5,891 |
Other income (expense), net | 960 | 1,118 | -5,385 | -449 |
Income before income taxes | 24,753 | 15,750 | 90,865 | 77,514 |
Income tax expense (benefit) | 4,467 | 5,392 | 24,560 | -32,772 |
Net income | 20,286 | 10,358 | 66,305 | 110,286 |
Net loss attributable to noncontrolling interests | 310 | 1,266 | 2,424 | 2,441 |
Net income attributable to Cooper-Standard Holdings Inc. | 20,596 | 11,624 | 68,729 | 112,727 |
Net income available to Cooper-Standard Holdings Inc. common stockholders | 15,144 | 8,037 | 51,059 | 86,588 |
Earnings per share | ' | ' | ' | ' |
Basic | $1.16 | $0.46 | $3.49 | $4.93 |
Diluted | $1.08 | $0.44 | $3.26 | $4.63 |
Comprehensive income | 33,913 | 18,790 | 57,714 | 104,998 |
Comprehensive loss attributable to noncontrolling interests | 535 | 825 | 2,365 | 2,758 |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | $34,448 | $19,615 | $60,079 | $107,756 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $119,232 | $270,555 |
Accounts receivable, net | 429,658 | 350,013 |
Tooling receivable | 149,906 | 116,947 |
Inventories | 186,758 | 143,253 |
Prepaid expenses | 32,505 | 21,902 |
Other | 93,909 | 87,802 |
Total current assets | 1,011,968 | 990,472 |
Property, plant and equipment, net | 700,922 | 628,608 |
Goodwill | 133,993 | 133,716 |
Intangibles, net | 102,892 | 116,724 |
Deferred tax assets | 53,025 | 72,718 |
Other assets | 90,717 | 83,739 |
Total assets | 2,093,517 | 2,025,977 |
Current liabilities: | ' | ' |
Debt payable within one year | 30,264 | 32,556 |
Accounts payable | 298,763 | 271,355 |
Payroll liabilities | 115,843 | 102,857 |
Accrued liabilities | 93,543 | 80,148 |
Total current liabilities | 538,413 | 486,916 |
Long-term debt | 648,968 | 450,809 |
Pension benefits | 184,529 | 201,104 |
Postretirement benefits other than pensions | 67,866 | 69,142 |
Deferred tax liabilities | 5,994 | 10,801 |
Other liabilities | 35,119 | 42,131 |
Total liabilities | 1,480,889 | 1,260,903 |
Redeemable noncontrolling interests | 12,511 | 14,194 |
7% Cumulative participating convertible preferred stock, $0.001 par value, 10,000,000 shares authorized at December 31, 2012, and September 30, 2013; 964,247 shares issued and 958,333 outstanding at December 31, 2012 and 820,659 shares issued and 810,382 outstanding at September 30, 2013 | 103,581 | 121,649 |
Equity: | ' | ' |
Common stock, $0.001 par value, 190,000,000 shares authorized at December 31, 2012 and September 30, 2013; 18,426,831 shares issued and 17,275,852 outstanding at December 31, 2012 and 14,696,592 shares issued and 13,146,908 outstanding at September 30, 2013 | 13 | 16 |
Additional paid-in capital | 382,844 | 471,851 |
Retained earnings | 167,924 | 201,907 |
Accumulated other comprehensive loss | -54,098 | -45,448 |
Total Cooper-Standard Holdings Inc. equity | 496,683 | 628,326 |
Noncontrolling interests | -147 | 905 |
Total equity | 496,536 | 629,231 |
Total liabilities and equity | $2,093,517 | $2,025,977 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Cumulative participating convertible preferred stock, dividend rate percentage | 7.00% | 7.00% |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 820,659 | 964,247 |
Preferred stock, shares outstanding | 810,382 | 958,333 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 190,000,000 | 190,000,000 |
Common stock, shares issued | 14,696,592 | 18,426,831 |
Common stock, shares outstanding | 13,146,908 | 17,275,852 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating Activities: | ' | ' |
Net income | $66,305 | $110,286 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Depreciation | 71,741 | 79,640 |
Amortization of intangibles | 11,534 | 11,590 |
Stock-based compensation expense | 8,660 | 11,473 |
Equity earnings, net of dividends related to earnings | -3,345 | -5,009 |
Deferred income taxes | 14,604 | -47,763 |
Other | 584 | -334 |
Changes in operating assets and liabilities | -152,510 | -182,401 |
Net cash provided by (used in) operating activities | 17,573 | -22,518 |
Investing activities: | ' | ' |
Capital expenditures, including other intangible assets | -132,794 | -91,537 |
Acquisition of businesses, net of cash acquired | -13,504 | -1,084 |
Return on equity investments | 2,120 | ' |
Proceeds from sale of fixed assets and other | 3,584 | 8,997 |
Net cash used in investing activities | -140,594 | -83,624 |
Financing activities: | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | 194,357 | ' |
Increase (decrease) in short term debt, net | 1,648 | -2,833 |
Principal payments on long-term debt | -3,825 | -4,310 |
Preferred stock cash dividends paid | -4,747 | -5,135 |
Purchase of noncontrolling interest | -1,911 | ' |
Repurchase of preferred stock | ' | -4,870 |
Repurchase of common stock | -217,549 | -20,636 |
Proceeds from exercise of warrants | 11,252 | ' |
Other | -5,302 | 520 |
Net cash used in financing activities | -26,077 | -37,264 |
Effects of exchange rate changes on cash and cash equivalents | -2,225 | -501 |
Changes in cash and cash equivalents | -151,323 | -143,907 |
Cash and cash equivalents at beginning of period | 270,555 | 361,745 |
Cash and cash equivalents at end of period | $119,232 | $217,838 |
Overview
Overview | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Overview | ' |
1. Overview | |
Basis of presentation | |
Cooper-Standard Holdings Inc. (together with its consolidated subsidiaries, the “Company,” “Cooper-Standard,” “we,” “our,” or “us”) is a leading manufacturer of fluid handling, body sealing, and Anti-Vibration Systems (“AVS”) components, systems, subsystems, and modules. The Company’s products are primarily for use in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers (“OEMs”) and replacement markets. The Company conducts substantially all of its activities through its subsidiaries. | |
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the SEC. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These financial statements include all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation of the financial position and results of operations of the Company. Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. The operating results for the interim period ended September 30, 2013 are not necessarily indicative of results for the full year. In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. | |
Recent accounting pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU requires that a liability related to an unrecognized tax benefit be offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if certain criteria are met. The guidance is effective for fiscal years beginning after December 15, 2013. The adoption of this ASU is not expected to have a material impact on the condensed consolidated financial statements. | |
In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This ASU permits use of the Fed Funds Effective Swap Rate (OIS) as a U.S. benchmark interest rate for hedge accounting purposes and removes the restriction on using different benchmark rates for similar hedges. The guidance is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The initial adoption of this ASU had no impact on the condensed consolidated financial statements. | |
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This ASU requires companies to present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the item reclassified is required under U.S. generally accepted accounting principles (“U.S. GAAP”) to be reclassified to net income in its entirety in the same reporting period. The guidance is effective for fiscal years beginning after December 15, 2012. The Company adopted this guidance effective January 1, 2013. The effects of adoption were not significant and the additional required disclosures are included in Note 9. “Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests.” | |
In July 2012, the FASB issued ASU 2012-02, Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-lived Intangible Assets for Impairment. This ASU permits companies to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired before performing the quantitative impairment test. This ASU is effective for fiscal years beginning after September 15, 2012. The Company adopted this guidance effective January 1, 2013. The impact of the adoption of this ASU did not have a material impact on the condensed consolidated financial statements. |
Acquisitions
Acquisitions | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
2. Acquisitions | |||||
On July 31, 2013, the Company completed the acquisition of Jyco Sealing Technologies (“Jyco”) for cash consideration of $14,382. The business acquired in the transaction is operated from Jyco’s manufacturing locations in Canada, Mexico and China. Jyco provides Thermoplastic Vulcanizate (“TPV”) sealing technology and has primarily supplied sealing systems and components to the automotive industry. This directly aligns with the Company’s growth strategy by strengthening important customer relationships in the automotive sealing systems. This acquisition was accounted for under ASC 805, “Business Combinations,” and the results of operations are included in the Company’s condensed consolidated financial statements from the date of acquisition. | |||||
The following table summarizes the estimated fair value of Jyco assets acquired and liabilities assumed at the date of acquisition: | |||||
Cash and cash equivalents | $ | 878 | |||
Accounts receivable | 9,407 | ||||
Tooling receivable | 2,036 | ||||
Inventories | 6,593 | ||||
Property, plant, and equipment | 14,055 | ||||
Other assets | 886 | ||||
Total assets acquired | 33,855 | ||||
Accounts payable | 10,418 | ||||
Other current liabilities | 7,021 | ||||
Other long-term liabilities | 2,034 | ||||
Total liabilities assumed | 19,473 | ||||
Net assets acquired | $ | 14,382 | |||
The estimated fair value of certain current assets, current liabilities, property, plant, and equipment, tooling and intangible assets, are preliminary and may change in the future as information becomes available from third party and other valuations. |
Goodwill_and_Intangibles
Goodwill and Intangibles | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and Intangibles | ' | ||||||||||||||||||||
3. Goodwill and Intangibles | |||||||||||||||||||||
Effective April 1, 2013, the Company changed its basis of presentation from two to four segments. The changes in the carrying amount of goodwill by reportable operating segment for the nine months ended September 30, 2013 are summarized as follows: | |||||||||||||||||||||
North America | Europe | South America | Asia Pacific | Total | |||||||||||||||||
Balance at January 1, 2013 | $ | 115,420 | $ | 13,836 | $ | — | $ | 4,460 | $ | 133,716 | |||||||||||
Foreign exchange translation | (155 | ) | 354 | — | 78 | 277 | |||||||||||||||
Balance at September 30, 2013 | $ | 115,265 | $ | 14,190 | $ | — | $ | 4,538 | $ | 133,993 | |||||||||||
Goodwill is not amortized but is tested for impairment, either annually or when events or circumstances indicate that impairment may exist, by reporting units determined in accordance with ASC 350, “Goodwill and Other Intangible Assets.” | |||||||||||||||||||||
The following table presents intangible assets and accumulated amortization balances of the Company as of December 31, 2012 and September 30, 2013, respectively: | |||||||||||||||||||||
Gross | Net | ||||||||||||||||||||
Carrying | Accumulated | Carrying | |||||||||||||||||||
Amount | Amortization | Amount | |||||||||||||||||||
Customer relationships | $ | 135,741 | $ | (34,184 | ) | $ | 101,557 | ||||||||||||||
Developed technology | 9,574 | (4,143 | ) | 5,431 | |||||||||||||||||
Other | 10,337 | (601 | ) | 9,736 | |||||||||||||||||
Balance at December 31, 2012 | $ | 155,652 | $ | (38,928 | ) | $ | 116,724 | ||||||||||||||
Customer relationships | $ | 133,661 | $ | (43,586 | ) | $ | 90,075 | ||||||||||||||
Developed technology | 9,678 | (5,381 | ) | 4,297 | |||||||||||||||||
Other | 9,445 | (925 | ) | 8,520 | |||||||||||||||||
Balance at September 30, 2013 | $ | 152,784 | $ | (49,892 | ) | $ | 102,892 | ||||||||||||||
Amortization expense totaled $3,866 and $3,785 for the three months ended September 30, 2012 and 2013, respectively, and $11,590 and $11,534 for the nine months ended September 30, 2012 and 2013, respectively. Amortization expense is estimated to be approximately $15,300 for the year ending December 31, 2013. |
Restructuring
Restructuring | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||
Restructuring | ' | ||||||||||||||||
4. Restructuring | |||||||||||||||||
Restructuring activities initiated prior to 2012 | |||||||||||||||||
The Company implemented several restructuring initiatives in prior years including the closure or consolidation of facilities throughout the world, the establishment of a centralized shared services function in Europe and the reorganization of the Company’s operating structure. The Company commenced these initiatives prior to January 1, 2012 and continued to execute these initiatives during 2013. The majority of the costs associated with these initiatives were incurred shortly after the original implementation. However, the Company continues to incur costs on some of the initiatives related principally to the disposal of the respective facilities. | |||||||||||||||||
The following table summarizes the restructuring expense for these initiatives for the three and nine months ended September 30, 2012 and 2013: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Employee separation costs | $ | 295 | $ | 54 | $ | (1,516 | ) | $ | 299 | ||||||||
Other exit costs | 869 | 167 | 4,242 | 1,309 | |||||||||||||
Asset Impairments | — | 1,023 | 147 | 1,110 | |||||||||||||
Postretirement benefit curtailment gain | — | — | (1,539 | ) | — | ||||||||||||
$ | 1,164 | $ | 1,244 | $ | 1,334 | $ | 2,718 | ||||||||||
The following table summarizes the activity in the restructuring liability for these initiatives for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other | ||||||||||||||||
Separation | Exit | Asset | |||||||||||||||
Costs | Costs | Impairments | Total | ||||||||||||||
Balance at January 1, 2013 | $ | 2,054 | $ | 61 | $ | — | $ | 2,115 | |||||||||
Expense | 299 | 1,309 | 1,110 | 2,718 | |||||||||||||
Cash payments and foreign exchange translation | (903 | ) | (1,306 | ) | — | (2,209 | ) | ||||||||||
Utilization of reserve | — | — | (1,110 | ) | (1,110 | ) | |||||||||||
Balance at September 30, 2013 | $ | 1,450 | $ | 64 | $ | — | $ | 1,514 | |||||||||
Restructuring activities initiated in 2012 | |||||||||||||||||
During 2012, the Company initiated the restructuring of certain facilities in Europe to change the Company’s European footprint to improve operating performance. The majority of the costs have been recognized, however, additional costs may be incurred. The Company has recognized $23,854 of costs related to these initiatives. | |||||||||||||||||
The following table summarizes the restructuring expense for these initiatives for the three and nine months ended September 30, 2012 and 2013: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Employee separation costs | $ | 8,797 | $ | 108 | $ | 14,053 | $ | 2,724 | |||||||||
Other exit costs | 210 | 241 | 210 | 378 | |||||||||||||
$ | 9,007 | $ | 349 | $ | 14,263 | $ | 3,102 | ||||||||||
The following table summarizes the activity in the restructuring liability for these initiatives for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other | ||||||||||||||||
Separation | Exit | Asset | |||||||||||||||
Costs | Costs | Impairments | Total | ||||||||||||||
Balance at January 1, 2013 | $ | 13,507 | $ | — | $ | — | $ | 13,507 | |||||||||
Expense | 2,724 | 378 | — | 3,102 | |||||||||||||
Cash payments and foreign exchange translation | (14,295 | ) | (378 | ) | — | (14,673 | ) | ||||||||||
Balance at September 30, 2013 | $ | 1,936 | $ | — | $ | — | $ | 1,936 | |||||||||
In the first quarter of 2012, the Company initiated the closure of a facility in North America and a restructuring liability of $4,886 was recorded. During the second quarter of 2012, the Company was able to negotiate a new contract with the union, therefore enabling the facility to remain open. As a result, $4,725 of restructuring expense was reversed during June, 2012. | |||||||||||||||||
Restructuring activities initiated in 2013 | |||||||||||||||||
In the first quarter of 2013, the Company eliminated certain positions within the organization that resulted in restructuring expense of $1,621, all of which is paid. No additional expense is expected to be incurred related to this initiative. | |||||||||||||||||
In the third quarter of 2013, the Company initiated the closure of a facility in Korea and the transfer of equipment to another facility in Korea. The estimated cost of this initiative is $1,000 and is expected to be completed in 2014. For the three and nine months ended September 30, 2013, the Company recorded $314 of expense related to this initiative. As of September 30, 2013, the liability associated with this initiative is $316. |
Inventories
Inventories | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
5. Inventories | |||||||||
Inventories were comprised of the following at December 31, 2012 and September 30, 2013: | |||||||||
December 31, | September 30, | ||||||||
2012 | 2013 | ||||||||
Finished goods | $ | 37,415 | $ | 43,361 | |||||
Work in process | 32,383 | 41,027 | |||||||
Raw materials and supplies | 73,455 | 102,370 | |||||||
$ | 143,253 | $ | 186,758 | ||||||
Debt
Debt | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt | ' | ||||||||
6. Debt | |||||||||
Outstanding debt consisted of the following at December 31, 2012 and September 30, 2013: | |||||||||
December 31, | September 30, | ||||||||
2012 | 2013 | ||||||||
Senior notes | $ | 450,000 | $ | 450,000 | |||||
Senior PIK toggle notes | — | 196,281 | |||||||
Other borrowings | 33,365 | 32,951 | |||||||
Total debt | $ | 483,365 | $ | 679,232 | |||||
Less current portion | (32,556 | ) | (30,264 | ) | |||||
Total long-term debt | $ | 450,809 | $ | 648,968 | |||||
Senior ABL Facility | |||||||||
On April 8, 2013 the Company and certain of its subsidiaries entered into the Amended and Restated Senior Loan and Security Agreement (“the Senior ABL Facility”), with certain lenders, which amended and restated the existing of its senior secured asset-based revolving credit facility. The Senior ABL Facility provides for an aggregate revolving loan availability of up to $150,000, subject to borrowing base availability, including a $50,000 letter of credit sub-facility and a $25,000 swing line sub-facility. The Senior ABL Facility also provides for an uncommitted $75,000 incremental loan facility, for a potential total Senior ABL Facility of $225,000 (if requested by the Company and the lenders agree to fund such increase). No consent of any lender (other than those participating in the increase) is required to effect any such increase. As of September 30, 2013, no amounts were drawn under the Senior ABL Facility, but there was approximately $26,422 of letters of credit outstanding under the facility. | |||||||||
Senior PIK Toggle Notes | |||||||||
On April 3, 2013, the Company issued $175,000 aggregate principal amount of its Senior PIK Toggle Notes (the “Senior PIK Toggle Notes”). The Senior PIK Toggle Notes bear an interest rate of 7.375% and mature on April 1, 2018. The Senior PIK Toggle Notes were issued pursuant to an indenture dated April 3, 2013. The Senior PIK Toggle Notes were issued at a discount of $3,938. On May 20, 2013, the Company issued an additional $25,000 Senior PIK Toggle Notes pursuant to the indenture dated April 3, 2013. The Senior PIK Toggle Notes were issued at a discount of $188. The Company used the proceeds from the issuance of the Senior PIK Toggle Notes, together with cash on hand, to finance the purchase of shares pursuant to the Equity Tender Offer. For additional information on the Equity Tender Offer, see Note 9. “Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests.” | |||||||||
The Company will pay the first interest payment on the Senior PIK Toggle Notes in cash (“Cash Interest”). For each interest period thereafter (other than for the final interest period ending at stated maturity, which will be made in cash), the Company will be required to pay Cash Interest, unless the conditions described in the indenture are satisfied, in which case the Company will be entitled to pay, to the extent described in the indenture, interest by increasing the principal amount of the outstanding Senior PIK Toggle Notes or issuing new Senior PIK Toggle Notes (such increase or issuance, “PIK Interest”). Cash Interest will accrue on the Senior PIK Toggle Notes at a rate equal to 7.375% per annum. PIK Interest will accrue on the Senior PIK Toggle Notes at a rate equal to 8.125% per annum. | |||||||||
The Senior PIK Toggle Notes were not guaranteed as of the date of issuance. If any of the Company’s wholly-owned domestic restricted subsidiaries guarantees certain debt of the Company, such subsidiary will also be required to guarantee the Senior PIK Toggle Notes. | |||||||||
The Senior PIK Toggle Notes constitute senior debt of the Company and (1) rank equally in right of payment with all of the Company’s existing and future senior debt, (2) rank senior in right of payment to any future subordinated debt of the Company, (3) are effectively subordinated in right of payment to all of the Company’s existing and future secured indebtedness and secured obligations to the extent of the value of the collateral securing such indebtedness and obligations and (4) are structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s subsidiaries (other than indebtedness and liabilities owed to the Company). | |||||||||
The Company has the right to redeem the Senior PIK Toggle Notes at the redemption prices under certain circumstances. If a change of control occurs with respect to the Company, unless the Company has exercised its right to redeem all of the outstanding Senior PIK Toggle Notes, each noteholder shall have the right to require the Company to repurchase such noteholder’s Senior PIK Toggle Notes at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase. | |||||||||
The Senior PIK Toggle Notes indenture contains covenants and events of default customary for an issuer of non-investment grade debt and substantially similar to the covenants and events of default in the indenture governing the 8 1⁄2% Senior Notes due 2018 issued by Cooper-Standard Automotive Inc., a wholly-owned subsidiary of the Company. |
Pension_and_Postretirement_Ben
Pension and Postretirement Benefits other than Pensions | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension and Postretirement Benefits other than Pensions | ' | ||||||||||||||||
7. Pension and Postretirement Benefits other than Pensions | |||||||||||||||||
The following tables disclose the amount of net periodic benefit cost for the three and nine months ended September 30, 2012 and 2013 for the Company’s defined benefit plans and other postretirement benefit plans: | |||||||||||||||||
Pension Benefits | |||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 287 | $ | 778 | $ | 305 | $ | 881 | |||||||||
Interest cost | 3,476 | 1,919 | 3,052 | 1,694 | |||||||||||||
Expected return on plan assets | (3,868 | ) | (1,010 | ) | (4,342 | ) | (927 | ) | |||||||||
Amortization of prior service cost and recognized actuarial loss | 124 | 96 | 344 | 325 | |||||||||||||
Net periodic benefit cost (gain) | $ | 19 | $ | 1,783 | $ | (641 | ) | $ | 1,973 | ||||||||
Pension Benefits | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 861 | $ | 2,366 | $ | 915 | $ | 2,646 | |||||||||
Interest cost | 10,428 | 5,830 | 9,156 | 5,095 | |||||||||||||
Expected return on plan assets | (11,604 | ) | (3,010 | ) | (13,026 | ) | (2,812 | ) | |||||||||
Amortization of prior service cost and recognized actuarial loss | 372 | 284 | 1,032 | 981 | |||||||||||||
Settlement | — | — | 783 | — | |||||||||||||
Net periodic benefit cost (gain) | $ | 57 | $ | 5,470 | $ | (1,140 | ) | $ | 5,910 | ||||||||
Other Postretirement Benefits | |||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 136 | $ | 163 | $ | 147 | $ | 163 | |||||||||
Interest cost | 449 | 206 | 407 | 183 | |||||||||||||
Amortization of prior service credit and recognized actuarial gain | (444 | ) | (14 | ) | (281 | ) | (35 | ) | |||||||||
Other | 19 | — | 6 | — | |||||||||||||
Net periodic benefit cost | $ | 160 | $ | 355 | $ | 279 | $ | 311 | |||||||||
Other Postretirement Benefits | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 408 | $ | 486 | $ | 441 | $ | 497 | |||||||||
Interest cost | 1,347 | 614 | 1,221 | 557 | |||||||||||||
Amortization of prior service credit and recognized actuarial gain | (1,332 | ) | (41 | ) | (843 | ) | (106 | ) | |||||||||
Other | 57 | — | 18 | — | |||||||||||||
Curtailment gain | (1,539 | ) | — | — | — | ||||||||||||
Net periodic benefit cost (gain) | $ | (1,059 | ) | $ | 1,059 | $ | 837 | $ | 948 | ||||||||
The curtailment gain for the nine months ended September 30, 2012 in the table above resulted from the closure of a U.S. facility and was recorded as a reduction to restructuring expense. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
8. Income Taxes | |
Under ASC Topic 270, “Interim Reporting,” the Company is required to determine its effective tax rate each quarter based upon its estimated annual effective tax rate. The Company is also required to record the tax impact of certain unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, jurisdictions with a projected loss for the year where no tax benefit can be recognized are excluded from the estimated annual effective tax rate. | |
The effective tax rate for the three and nine months ended September 30, 2013 was 18% and 27%, respectively. The effective tax rate for the three and nine months ended September 30, 2012 was 34% and (42%), respectively, which included a benefit of ($19,500) included in the estimated annual effective tax rate resulting from forecasted net income in the U.S. with no corresponding tax expense due to utilization of valuation allowances and a benefit of ($48,300) resulting from changes in determinations relating to the potential realization of deferred tax assets and the resulting reversal of a valuation allowance on net deferred tax assets in the United States. Excluding the impact of releasing the US valuation allowance in 2012, the effective tax rate for the three and nine months ended September 30, 2012 was 34% and 20%, respectively. The income tax rate for the three and nine months ended September 30, 2013 varies from statutory rates due to a discrete benefit for the effect of the American Taxpayer Relief Act of 2012 which retroactively reinstated the Federal Research and Development Tax Credit (as signed into law in early 2013), as well as the exclusion from U.S. federal taxable income of certain interest, dividends, rents, and royalty income of foreign affiliates, and the benefits of the credits with that income. Additionally, the income tax rate varies from statutory rates due to income taxes on foreign earnings taxed at rates lower than the U.S. statutory rate, the inability to record a tax benefit for pre-tax losses in certain foreign jurisdictions to the extent not offset by other categories of income, tax credits, income tax incentives, withholding taxes, and other permanent items. Further, the Company’s current and future provision for income taxes may be impacted by the recognition of valuation allowances in certain countries. The Company intends to maintain these allowances until it is more likely than not that the deferred tax assets will be realized. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests | ' | ||||||||||||||||
9. Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests | |||||||||||||||||
The changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2013, net of related tax, are as follows: | |||||||||||||||||
Three Months ended September 30, 2013 | |||||||||||||||||
Cumulative currency | Benefit plan | Fair value | Accumulated other | ||||||||||||||
translation | liability | change of | comprehensive loss | ||||||||||||||
adjustment | derivatives | ||||||||||||||||
Balance at July 1, 2013 | $ | (5,111 | ) | $ | (62,673 | ) | $ | (166 | ) | $ | (67,950 | ) | |||||
Other comprehensive income (loss) before reclassifications | 14,501 | (979 | ) | 130 | 13,652 | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 239 | (39 | ) | 200 | ||||||||||||
Net current period other comprehensive income (loss)(1) | 14,501 | (740 | ) | 91 | 13,852 | ||||||||||||
Balance at September 30, 2013 | $ | 9,390 | $ | (63,413 | ) | $ | (75 | ) | $ | (54,098 | ) | ||||||
Amounts in parentheses indicate debits. | |||||||||||||||||
(1) Other comprehensive income (loss) related to the benefit plan liability is net of a tax effect of $24. Other comprehensive income (loss) related to the fair value change of derivatives is net of a tax effect of $3. | |||||||||||||||||
Nine Months ended September 30, 2013 | |||||||||||||||||
Cumulative currency | Benefit plan | Fair value | Accumulated other | ||||||||||||||
translation | liability | change of | comprehensive loss | ||||||||||||||
adjustment | derivatives | ||||||||||||||||
Balance at January 1, 2013 | $ | 18,320 | $ | (64,018 | ) | $ | 250 | $ | (45,448 | ) | |||||||
Other comprehensive loss before reclassifications | (8,930 | ) | (74 | ) | (53 | ) | (9,057 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 679 | (272 | ) | 407 | ||||||||||||
Net current period other comprehensive income (loss)(1) | (8,930 | ) | 605 | (325 | ) | (8,650 | ) | ||||||||||
Balance at September 30, 2013 | $ | 9,390 | $ | (63,413 | ) | $ | (75 | ) | $ | (54,098 | ) | ||||||
Amounts in parentheses indicate debits. | |||||||||||||||||
(1) Other comprehensive income (loss) related to the benefit plan liability is net of a tax effect of ($376). Other comprehensive income (loss) related to the fair value change of derivatives is net of a tax effect of $128. | |||||||||||||||||
The reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2013 are as follows: | |||||||||||||||||
Gain (loss) reclassified | Location of gain (loss) reclassified into | ||||||||||||||||
Details about accumulated other | Three months ended | Nine months ended | income | ||||||||||||||
comprehensive loss components | September 30, 2013 | September 30, 2013 | |||||||||||||||
Fair value change of derivatives | |||||||||||||||||
Interest rate contracts | $ | (21 | ) | $ | 209 | Interest expense, net of interest income | |||||||||||
Foreign exchange contracts | 68 | 181 | Cost of products sold | ||||||||||||||
47 | 390 | Income before income taxes | |||||||||||||||
(8 | ) | (118 | ) | Income tax expense | |||||||||||||
$ | 39 | $ | 272 | Consolidated net income | |||||||||||||
Amortization of defined benefit and other postretirement benefit plans | |||||||||||||||||
Prior service credits | $ | 161 | $ | 472 | (1) | ||||||||||||
Actuarial losses | (495 | ) | (1,427 | )(1) | |||||||||||||
(334 | ) | (955 | ) | Income before income taxes | |||||||||||||
95 | 276 | Income tax benefit | |||||||||||||||
$ | (239 | ) | $ | (679 | ) | Consolidated net income | |||||||||||
Total reclassifications for the period | $ | (200 | ) | $ | (407 | ) | |||||||||||
(1) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 7. “Pension and Postretirement Benefits other than Pensions” for additional details.) | ||||||||||||||||
The following table summarizes the Company’s equity and redeemable noncontrolling interest activity for the nine months ended September 30, 2013: | |||||||||||||||||
Cooper- | Noncontrolling | Total | Redeemable | ||||||||||||||
Standard | Interest | Equity | Noncontrolling | ||||||||||||||
Holdings Inc. | Interests | ||||||||||||||||
Equity at January 1, 2013 | $ | 628,326 | $ | 905 | $ | 629,231 | $ | 14,194 | |||||||||
Net income (loss) | 68,729 | (25 | ) | 68,704 | (2,399 | ) | |||||||||||
Preferred stock dividends | (4,569 | ) | — | (4,569 | ) | — | |||||||||||
Repurchase of common stock | (217,549 | ) | — | (217,549 | ) | — | |||||||||||
Conversion of preferred shares | 18,252 | — | 18,252 | ||||||||||||||
Warrant exercise | 11,252 | — | 11,252 | — | |||||||||||||
Other comprehensive income (loss) | (8,650 | ) | (1 | ) | (8,651 | ) | 60 | ||||||||||
Stock-based compensation | 3,026 | — | 3,026 | — | |||||||||||||
Shares issued under stock option plans | (593 | ) | — | (593 | ) | — | |||||||||||
Accretion of redeemable noncontrolling interests | (656 | ) | — | (656 | ) | 656 | |||||||||||
Purchase of noncontrolling interest | (885 | ) | (1,026 | ) | (1,911 | ) | — | ||||||||||
Equity at September 30, 2013 | $ | 496,683 | $ | (147 | ) | $ | 496,536 | $ | 12,511 | ||||||||
Equity Tender Offer | |||||||||||||||||
On April 5, 2013, the Company commenced an Equity Tender Offer. On May 2, 2013, the Company purchased 4,651,162 shares pursuant to the Equity Tender Offer at a purchase price of $43.00 per share for an aggregate purchase price of approximately $200,000. The Company used the proceeds from the issuance of the Senior PIK Toggle Notes (see Note 6. “Debt”), together with cash on hand, to finance the purchase of shares of common stock pursuant to the Equity Tender Offer. |
Net_Income_Per_Share_Attributa
Net Income Per Share Attributable to Cooper-Standard Holdings Inc. | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Net Income Per Share Attributable to Cooper-Standard Holdings Inc. | ' | ||||||||||||||||
10. Net Income Per Share Attributable to Cooper-Standard Holdings Inc. | |||||||||||||||||
Basic net income per share attributable to Cooper-Standard Holdings Inc. was computed using the two-class method by dividing net income attributable to Cooper-Standard Holdings Inc., after deducting dividends on the Company’s 7% cumulative participating convertible preferred stock (“7% preferred stock”), premium paid for redemption of 7% preferred stock and undistributed earnings allocated to participating securities, by the weighted average number of shares of common stock outstanding during the period excluding unvested restricted shares. The Company’s shares of 7% preferred stock outstanding are considered participating securities. Diluted net income per share attributable to Cooper-Standard Holdings Inc. was computed using the treasury stock method by dividing diluted net income available to Cooper-Standard Holdings Inc. by the weighted average number of shares of common stock outstanding, including the dilutive effect of common stock equivalents, using the average share price during the period. Diluted net income per share attributable to Cooper-Standard Holdings Inc. computed using the two-class method was antidilutive. A summary of information used to compute basic and diluted net income per share attributable to Cooper-Standard Holdings Inc. is shown below: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Net income attributable to Cooper-Standard Holdings Inc. | $ | 11,624 | $ | 20,596 | $ | 112,727 | $ | 68,729 | |||||||||
Less: 7% Preferred stock dividends (paid or unpaid) | (1,699 | ) | (1,419 | ) | (5,087 | ) | (4,569 | ) | |||||||||
Less: Premium paid for redemption of 7% preferred stock | — | — | (974 | ) | — | ||||||||||||
Less: Undistributed earnings allocated to participating securities | (1,888 | ) | (4,033 | ) | (20,078 | ) | (13,101 | ) | |||||||||
Basic net income available to Cooper-Standard Holdings Inc. common stockholders | $ | 8,037 | $ | 15,144 | $ | 86,588 | $ | 51,059 | |||||||||
Increase in fair value of share-based awards | $ | — | $ | 212 | $ | — | $ | 466 | |||||||||
Diluted net income available to Cooper-Standard Holdings Inc. common stockholders | $ | 8,037 | $ | 15,356 | $ | 86,588 | $ | 51,525 | |||||||||
Basic weighted average shares of common stock outstanding | 17,454,226 | 13,045,575 | 17,578,580 | 14,621,535 | |||||||||||||
Dilutive effect of: | |||||||||||||||||
Restricted common stock | 172,586 | 144,086 | 270,230 | 206,588 | |||||||||||||
Restricted 7% preferred stock | 19,181 | — | 47,833 | 19,949 | |||||||||||||
Warrants | 570,067 | 899,420 | 699,533 | 800,116 | |||||||||||||
Options | 77,707 | 162,878 | 111,023 | 139,655 | |||||||||||||
Diluted weighted average shares of common stock outstanding | 18,293,767 | 14,251,959 | 18,707,199 | 15,787,843 | |||||||||||||
Basic net income per share attributable to Cooper-Standard Holdings Inc. | $ | 0.46 | $ | 1.16 | $ | 4.93 | $ | 3.49 | |||||||||
Diluted net income per share attributable to Cooper-Standard Holdings Inc. | $ | 0.44 | $ | 1.08 | $ | 4.63 | $ | 3.26 | |||||||||
The effect of certain common stock equivalents, including the 7% preferred stock and options, were excluded from the computation of weighted average diluted shares outstanding for the three and nine months ended September 30, 2012 and 2013, as inclusion would have been antidilutive. A summary of these shares of 7% preferred stock (as if converted) and options are shown below: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Number of options | 272,800 | 131,000 | 272,800 | 131,000 | |||||||||||||
Exercise price | $ | 43.50-46.75 | $ | 52.25-52.50 | $ | 43.50-46.75 | $ | 52.25-52.50 | |||||||||
7% Preferred stock, as if converted | 4,099,692 | 3,479,719 | 4,076,150 | 3,751,800 | |||||||||||||
7% Preferred stock dividends, undistributed earnings and premium allocated to participating securities that would be added back in the diluted calculation | $ | 3,587 | $ | 5,460 | $ | 26,139 | $ | 17,670 |
Redeemable_Preferred_Stock
Redeemable Preferred Stock | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Redeemable Preferred Stock | ' | ||||||||
11. Redeemable Preferred Stock | |||||||||
The following table reconciles the Company’s 7% preferred stock activity for the nine months ended September 30, 2013: | |||||||||
Preferred Shares | Preferred Stock | ||||||||
Balance at January 1, 2013 | 958,333 | $ | 121,649 | ||||||
Stock-based compensation | — | 745 | |||||||
Converted preferred stock shares | (142,590 | ) | (18,252 | ) | |||||
Repurchased preferred stock shares | (4,363 | ) | (561 | ) | |||||
Forfeited shares | (998 | ) | — | ||||||
Balance at September 30, 2013 | 810,382 | $ | 103,581 | ||||||
On October 18, 2013, the Company gave notice to the holders of its 7% preferred stock that the Company had elected to cause the mandatory conversion of all 810,382 shares of issued and outstanding shares of 7% preferred stock on November 15, 2013. The 7% preferred stock will be converted at the rate of 4.34164 shares of the Company’s common stock for each share of 7% preferred stock, or into an aggregate of 3,518,386 shares of common stock. On the conversion date, the shares of 7% preferred stock will be cancelled and all rights of holders of 7% preferred stock will terminate (other than the right to receive shares of common stock issuable upon conversion). Shares of 7% preferred stock that are converted and cancelled will be restored to the status of authorized but unissued preferred stock of the Company. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock-Based Compensation | ' |
12. Stock-Based Compensation | |
On May 27, 2010, the Company adopted the 2010 Cooper-Standard Holdings Inc. Management Incentive Plan. In 2011, the Company adopted the 2011 Omnibus Incentive Plan, which amended, restated and replaced the 2010 Cooper-Standard Holdings Inc. Management Incentive Plan. Under these plans, stock options, restricted common stock, restricted 7% preferred stock, unrestricted common stock and restricted stock units have been granted to key employees and directors. Total compensation expense recognized was $3,436 and $3,026 for the three months ended September 30, 2012 and 2013, respectively, and $11,473 and $8,660 for the nine months ended September 30, 2012 and 2013, respectively. |
Other_Income_Expense_Net
Other Income (Expense), Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Other Income (Expense), Net | ' | ||||||||||||||||
13. Other Income (Expense), Net | |||||||||||||||||
The components of other income (expense), net are as follows: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Foreign currency gains (losses) | $ | (193 | ) | $ | 813 | $ | (4,516 | ) | $ | (6,351 | ) | ||||||
Unrealized gains (losses) related to forward contracts | 1,476 | 401 | 3,836 | (92 | ) | ||||||||||||
Loss on sale of receivables | (165 | ) | (437 | ) | (689 | ) | (1,235 | ) | |||||||||
Miscellaneous income | — | 183 | 920 | 2,293 | |||||||||||||
Other income (expense), net | $ | 1,118 | $ | 960 | $ | (449 | ) | $ | (5,385 | ) | |||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
14. Related Party Transactions | |
Sales to NISCO, a 40% owned joint venture, totaled $7,472 and $11,694 for the three months ended September 30, 2012 and 2013, respectively, and $31,491 and $35,528 for the nine months ended September 30, 2012 and 2013, respectively. In March 2012, the Company received from NISCO a dividend of $800, all of which was related to earnings. In March 2013, the Company received from NISCO a dividend of $4,000, consisting of $1,880 related to earnings and a $2,120 return of capital. | |
Purchases of materials from Guyoung Technology Co. Ltd, a Korean corporation of which the Company owns approximately 20% of the common stock, totaled $743 and $672 for the three months ended September 30, 2012 and 2013, respectively, and $2,340 and $2,032 for the nine months ended September 30, 2012 and 2013, respectively. |
Business_Segments
Business Segments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Business Segments | ' | ||||||||||||||||
15. Business Segments | |||||||||||||||||
ASC 280, “Segment Reporting,” establishes the standards for reporting information about operating segments in financial statements. The Company organized, managed and reported its global business operations through two geographic segments in the first quarter of 2013. In April 2013, the Company implemented organizational and management changes of its global business operations resulting in four reportable segments associated with geographic regions. In applying the criteria set forth in ASC 280, the Company revised its segment disclosures beginning with the second quarter of 2013 from the two segments, North America and International, to four reportable segments, North America, Europe, South America and Asia Pacific. The Company’s principal product lines within each of these segments are body and chassis products and fluid handling products. The Company evaluates segment performance based on segment profit before tax. The results of each segment include certain allocations for general, administrative, interest, and other shared costs. Prior periods have been revised to conform to the current period presentation. Due to this segment revision, the Company has also revised the previously reported amounts in Note 3. “Goodwill and Intangibles” to conform to the new segment presentation. | |||||||||||||||||
The following table details information on the Company’s business segments: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Sales to external customers | |||||||||||||||||
North America | $ | 363,859 | $ | 408,615 | $ | 1,139,273 | $ | 1,191,521 | |||||||||
Europe | 227,556 | 258,028 | 780,780 | 806,182 | |||||||||||||
South America | 39,208 | 43,069 | 107,282 | 138,746 | |||||||||||||
Asia Pacific | 53,406 | 54,345 | 156,459 | 159,892 | |||||||||||||
Consolidated | $ | 684,029 | $ | 764,057 | $ | 2,183,794 | $ | 2,296,341 | |||||||||
Intersegment sales | |||||||||||||||||
North America | $ | 1,646 | 2,121 | $ | 5,979 | 8,959 | |||||||||||
Europe | 2,107 | 2,440 | 6,489 | 6,837 | |||||||||||||
South America | 37 | — | 159 | — | |||||||||||||
Asia Pacific | 2,091 | 3,013 | 6,105 | 7,434 | |||||||||||||
Eliminations and other | (5,881 | ) | (7,574 | ) | (18,732 | ) | (23,230 | ) | |||||||||
Consolidated | $ | — | $ | — | $ | — | $ | — | |||||||||
Segment profit (loss) | |||||||||||||||||
North America | $ | 32,790 | $ | 31,726 | $ | 113,922 | $ | 103,158 | |||||||||
Europe | (19,319 | ) | (7,500 | ) | (33,442 | ) | (14,784 | ) | |||||||||
South America | (1,028 | ) | (1,838 | ) | (6,413 | ) | (5,760 | ) | |||||||||
Asia Pacific | 3,307 | 2,365 | 3,447 | 8,251 | |||||||||||||
Income before income taxes | $ | 15,750 | $ | 24,753 | $ | 77,514 | $ | 90,865 | |||||||||
Restructuring cost included in segment profit (loss) | |||||||||||||||||
North America | $ | 276 | $ | 73 | $ | 755 | $ | 1,961 | |||||||||
Europe | 9,802 | 1,517 | 14,715 | 5,476 | |||||||||||||
South America | — | — | — | — | |||||||||||||
Asia Pacific | 93 | 317 | 288 | 318 | |||||||||||||
Consolidated | $ | 10,171 | $ | 1,907 | $ | 15,758 | $ | 7,755 | |||||||||
December 31, | September 30, | ||||||||||||||||
2012 | 2013 | ||||||||||||||||
Segment assets | |||||||||||||||||
North America | $ | 772,269 | $ | 878,213 | |||||||||||||
Europe | 593,340 | 613,907 | |||||||||||||||
South America | 145,257 | 161,792 | |||||||||||||||
Asia Pacific | 223,801 | 249,829 | |||||||||||||||
Eliminations and other | 291,310 | 189,776 | |||||||||||||||
Consolidated | $ | 2,025,977 | $ | 2,093,517 | |||||||||||||
Guarantor_and_NonGuarantor_Sub
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 |
Financial_Instruments
Financial Instruments | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Financial Instruments | ' | ||||||||||||||||
17. Financial Instruments | |||||||||||||||||
Fair values of the Senior Notes approximated $480,938 at December 31, 2012 and September 30, 2013 based on quoted market prices, compared to the recorded value of $450,000. This fair value measurement is classified within Level 1 of the fair value hierarchy. | |||||||||||||||||
Fair values of the Senior PIK Toggle Notes approximated $199,471 at September 30, 2013 based on quoted market prices, compared to the recorded value of $196,281. This fair value measurement is classified within Level 1 of the fair value hierarchy. | |||||||||||||||||
Fair values of the 7% preferred stock approximated $169,193 and $188,253 at December 31, 2012 and September 30, 2013, respectively, compared to the recorded values of $121,649 and $103,581 at December 31, 2012 and September 30, 2013, respectively. The fair values were determined based on the contingent claims valuation methodology utilizing the principles of option pricing theory. This fair value measurement is classified within Level 3 of the fair value hierarchy. | |||||||||||||||||
The Company completed an agreement with Fonds de Modernisation des Equipementiers Automobiles (“FMEA”) on May 2, 2011, to establish a joint venture that combined the Company’s French body sealing operations and the operations of Société des Polymères Barre-Thomas (“SPBT”). SPBT was a French supplier of anti-vibration systems and low pressure hoses, as well as body sealing products, which FMEA acquired as a preliminary step to the joint venture transaction. SPBT changed its name to Cooper Standard France SAS (“CS France”) subsequent to the transaction. The Company has 51 percent ownership and FMEA has 49 percent ownership. In connection with the investment in CS France, the noncontrolling shareholders have the option, which is embedded in the noncontrolling interest, to require the Company to purchase the remaining 49 percent noncontrolling share at a formula price designed to approximate fair value based on operating results of the entity. | |||||||||||||||||
The noncontrolling interest is redeemable at other than fair value as the put value is determined based on a formula described above. The Company records the noncontrolling interests in CS France at the greater of 1) the initial carrying amount, increased or decreased for the noncontrolling shareholders’ share of net income or loss and its share of other comprehensive income or loss and dividends (“carrying amount”) or 2) the cumulative amount required to accrete the initial carrying amount to the redemption value, which resulted in accretion of $656 for the nine months ended September 30, 2013. Such accretion amounts are recorded as increases to redeemable noncontrolling interests with offsets to equity. According to authoritative accounting guidance, the redeemable noncontrolling interest is classified outside of permanent equity, in mezzanine equity, on the Company’s condensed consolidated balance sheets. As of September 30, 2013 the estimated redemption value of the put option is $10,290. The redemption amount related to the put option is guaranteed by the Company and secured with the CS France shares held by a subsidiary of the Company. The Company has determined that the non-recurring fair value measurement related to this calculation relies primarily on Company-specific inputs and the Company’s assumptions, as observable inputs are not available. As such, the Company has determined that this fair value measurement resides within Level 3 of the fair value hierarchy. To determine the fair value of the put option, the Company utilizes the projected cash flows expected to be generated by the joint venture, then discounts the future cash flows by using a risk-adjusted rate for the Company. | |||||||||||||||||
According to authoritative accounting guidance for redeemable noncontrolling shareholders’ interests, to the extent the noncontrolling shareholders have a contractual right to receive an amount upon exercise of a put option that is other than fair value, and such amount is greater than carrying value, then the noncontrolling shareholder has, in substance, received a dividend distribution that is different than other common stockholders. Therefore the redemption amount in excess of fair value should be reflected in the computation of earnings per share available to the Company’s common stockholders. At September 30, 2013 there was no difference between redemption value and fair value. | |||||||||||||||||
Derivative Instruments and Hedging Activities | |||||||||||||||||
The Company uses derivative financial instruments, including forward and swap contracts, to manage its exposures to fluctuations in foreign exchange and interest rates. For a fair value hedge, both the effective and ineffective, if significant, portions are recorded in earnings and reflected in the condensed consolidated statement of comprehensive income. For a cash flow hedge, the effective portion of the change in the fair value of the derivative is recorded in accumulated other comprehensive income (“AOCI”) in the condensed consolidated balance sheet. The ineffective portion, if significant, is recorded in other income or expense. When the underlying hedged transaction is realized or the hedged transaction is no longer probable, the gain or loss included in AOCI is recorded in earnings and reflected in the condensed consolidated statement of comprehensive income on the same line as the gain or loss on the hedged item attributable to the hedged risk. | |||||||||||||||||
The Company formally documents its hedge relationships, including the identification of the hedging instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the cash flow hedges. The Company also formally assesses whether a cash flow hedge is highly effective in offsetting changes in the cash flows of the hedged item. Derivatives are recorded at fair value in other current assets, accrued liabilities and other long-term liabilities. | |||||||||||||||||
Cash Flow Hedges | |||||||||||||||||
Forward foreign exchange contracts—The Company enters into forward contracts to hedge currency risk of the U.S. Dollar against the Mexican Peso, the Romanian Leu against the Euro and the Euro against the Polish Zloty and the U.S. Dollar. The forward contracts are used to mitigate the potential volatility to earnings and cash flow arising from changes in currency exchange rates that impact the Company’s foreign currency transactions. As of September 30, 2013, the notional amount of these contracts was $10,247. The fair values of these contracts at September 30, 2013 were $10 in the asset position recorded in other current assets and $112 in the liability position recorded in accrued liabilities in the condensed consolidated balance sheet. The gains or losses on the forward contracts are reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. The amount reclassified from AOCI into cost of products sold was ($68) and ($181) for the three and nine months ended September 30, 2013, respectively. These foreign currency derivative contracts consist of hedges of transactions up to December 2013. | |||||||||||||||||
Interest rate swaps—The Company has an interest rate swap contract to manage cash flow fluctuations of variable rate debt due to changes in market interest rates. This contract which fixes the interest payment of a certain variable rate debt instrument is accounted for as a cash flow hedge. The amount reclassified from AOCI into interest expense for this swap was $24 and $21 for the three months ended September 30, 2012 and 2013, respectively, and $77 and ($209) for the nine months ended September 30, 2012 and 2013, respectively. The interest rate swap contract was settled as of September 30, 2013. | |||||||||||||||||
Undesignated Derivatives | |||||||||||||||||
As part of the FMEA joint venture, SPBT had undesignated derivative forward contracts to hedge currency risk of the Euro against the Polish Zloty which are included in the Company’s condensed consolidated financial statements. The forward contracts are used to mitigate the potential volatility of cash flows arising from changes in currency exchange rates that impact the Company’s foreign currency transactions. These foreign currency derivative contracts relate to hedge transactions through April 2014. As of September 30, 2013, the notional amount of these contracts was $11,161. At September 30, 2013, the fair value of the Company’s undesignated derivative forward contracts was a liability of $134 and is recorded in accrued liabilities in the Company’s condensed consolidated balance sheet. The unrealized gain or loss on the forward contracts is reported as a component of other income (expense), net. The unrealized gain (loss) amounted to $1,476 and $401 for the three months ended September 30, 2012 and 2013, respectively, and $3,836 and ($92) for the nine months ended September 30, 2012 and 2013, respectively. | |||||||||||||||||
Fair Value Measurements | |||||||||||||||||
ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: | |||||||||||||||||
Level 1: | Observable inputs such as quoted prices in active markets; | ||||||||||||||||
Level 2: | Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and | ||||||||||||||||
Level 3: | Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. | ||||||||||||||||
Estimates of the fair value of foreign currency and interest rate derivative instruments are determined using exchange traded prices and rates. The Company also considers the risk of non-performance in the estimation of fair value, and includes an adjustment for non-performance risk in the measure of fair value of derivative instruments. In certain instances where market data is not available, the Company uses management judgment to develop assumptions that are used to determine fair value. Fair value measurements and the fair value hierarchy level for the Company’s liabilities measured or disclosed at fair value on a recurring basis as of December 31, 2012 and September 30, 2013, are shown below: | |||||||||||||||||
31-Dec-12 | |||||||||||||||||
Contract | Asset | Level 1 | Level 2 | Level 3 | |||||||||||||
(Liability) | |||||||||||||||||
Interest rate swap | $ | (68 | ) | $ | — | $ | (68 | ) | $ | — | |||||||
Forward foreign exchange contracts | (29 | ) | — | (29 | ) | — | |||||||||||
Total | $ | (97 | ) | $ | — | $ | (97 | ) | $ | — | |||||||
30-Sep-13 | |||||||||||||||||
Contract | Asset | Level 1 | Level 2 | Level 3 | |||||||||||||
(Liability) | |||||||||||||||||
Interest rate swap | $ | — | $ | — | $ | — | $ | — | |||||||||
Forward foreign exchange contracts | (236 | ) | — | (236 | ) | — | |||||||||||
Total | $ | (236 | ) | $ | — | $ | (236 | ) | $ | — | |||||||
Items measured at fair value on a non-recurring basis | |||||||||||||||||
In addition to items that are measured at fair value on a recurring basis, the Company measures certain assets and liabilities at fair value on a non-recurring basis, which are not included in the table above. As these non-recurring fair value measurements are generally determined using unobservable inputs, these fair value measurements are classified within Level 3 of the fair value hierarchy. For further information on assets and liabilities measured at fair value on a non-recurring basis, see Note 4. “Restructuring.” |
Accounts_Receivable_Factoring
Accounts Receivable Factoring | 9 Months Ended |
Sep. 30, 2013 | |
Text Block [Abstract] | ' |
Accounts Receivable Factoring | ' |
18. Accounts Receivable Factoring | |
As a part of its working capital management, the Company sells certain receivables through third party financial institutions with and without recourse. The amount sold varies each month based on the amount of underlying receivables and cash flow needs of the Company. The Company continues to service the receivables. These are permitted transactions under the Company’s credit agreement and the indentures governing the Senior Notes and the Senior PIK Toggle Notes. | |
At September 30, 2012 and 2013, the Company had $68,564 and $95,642, respectively, outstanding under receivable transfer agreements without recourse entered into by various locations. The total amount of accounts receivable factored were $256,033 and $347,473 for the nine months ended September 30, 2012 and 2013, respectively. Costs incurred on the sale of receivables were $421 and $720 for the three months ended September 30, 2012 and 2013, respectively, and $1,722 and $2,049 for the nine months ended September 30, 2012 and 2013, respectively. These amounts are recorded in other income (expense), net and interest expense, net of interest income in the condensed consolidated statements of comprehensive income. | |
At September 30, 2012 and 2013, the Company had $11,296 and $13,727, respectively outstanding under receivable transfer agreements with recourse. The secured borrowings are recorded in debt payable within one year and receivables are pledged equal to the balance of the borrowings. The total amount of accounts receivable factored was $61,631 and $69,809 for the nine months ended September 30, 2012 and 2013, respectively. Costs incurred on the sale of receivables were $68 and $106 for the three months ended September 30, 2012 and 2013, respectively, and $275 and $327 for the nine months ended September 30, 2012 and 2013, respectively. These amounts are recorded in other income (expense), net and interest expense, net of interest income in the condensed consolidated statements of comprehensive income. |
Overview_Policies
Overview (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of presentation | ' |
Basis of presentation | |
Cooper-Standard Holdings Inc. (together with its consolidated subsidiaries, the “Company,” “Cooper-Standard,” “we,” “our,” or “us”) is a leading manufacturer of fluid handling, body sealing, and Anti-Vibration Systems (“AVS”) components, systems, subsystems, and modules. The Company’s products are primarily for use in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers (“OEMs”) and replacement markets. The Company conducts substantially all of its activities through its subsidiaries. | |
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the SEC. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These financial statements include all adjustments (consisting of normal, recurring adjustments) considered necessary for a fair presentation of the financial position and results of operations of the Company. Certain prior period amounts have been reclassified to conform to the current period financial statement presentation. The operating results for the interim period ended September 30, 2013 are not necessarily indicative of results for the full year. In preparing these financial statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. | |
Recent accounting pronouncements | ' |
Recent accounting pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. This ASU requires that a liability related to an unrecognized tax benefit be offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if certain criteria are met. The guidance is effective for fiscal years beginning after December 15, 2013. The adoption of this ASU is not expected to have a material impact on the condensed consolidated financial statements. | |
In July 2013, the FASB issued ASU 2013-10, Derivatives and Hedging (Topic 815): Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes. This ASU permits use of the Fed Funds Effective Swap Rate (OIS) as a U.S. benchmark interest rate for hedge accounting purposes and removes the restriction on using different benchmark rates for similar hedges. The guidance is effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The initial adoption of this ASU had no impact on the condensed consolidated financial statements. | |
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This ASU requires companies to present the effects on the line items of net income of significant amounts reclassified out of accumulated other comprehensive income, but only if the item reclassified is required under U.S. generally accepted accounting principles (“U.S. GAAP”) to be reclassified to net income in its entirety in the same reporting period. The guidance is effective for fiscal years beginning after December 15, 2012. The Company adopted this guidance effective January 1, 2013. The effects of adoption were not significant and the additional required disclosures are included in Note 9. “Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests.” | |
In July 2012, the FASB issued ASU 2012-02, Intangibles-Goodwill and Other (Topic 350): Testing Indefinite-lived Intangible Assets for Impairment. This ASU permits companies to assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset is impaired before performing the quantitative impairment test. This ASU is effective for fiscal years beginning after September 15, 2012. The Company adopted this guidance effective January 1, 2013. The impact of the adoption of this ASU did not have a material impact on the condensed consolidated financial statements. |
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed at Date of Acquisition | ' | ||||
The following table summarizes the estimated fair value of Jyco assets acquired and liabilities assumed at the date of acquisition: | |||||
Cash and cash equivalents | $ | 878 | |||
Accounts receivable | 9,407 | ||||
Tooling receivable | 2,036 | ||||
Inventories | 6,593 | ||||
Property, plant, and equipment | 14,055 | ||||
Other assets | 886 | ||||
Total assets acquired | 33,855 | ||||
Accounts payable | 10,418 | ||||
Other current liabilities | 7,021 | ||||
Other long-term liabilities | 2,034 | ||||
Total liabilities assumed | 19,473 | ||||
Net assets acquired | $ | 14,382 | |||
Goodwill_and_Intangibles_Table
Goodwill and Intangibles (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Carrying Amount of Goodwill by Reportable Operating Segment | ' | ||||||||||||||||||||
The changes in the carrying amount of goodwill by reportable operating segment for the nine months ended September 30, 2013 are summarized as follows: | |||||||||||||||||||||
North America | Europe | South America | Asia Pacific | Total | |||||||||||||||||
Balance at January 1, 2013 | $ | 115,420 | $ | 13,836 | $ | — | $ | 4,460 | $ | 133,716 | |||||||||||
Foreign exchange translation | (155 | ) | 354 | — | 78 | 277 | |||||||||||||||
Balance at September 30, 2013 | $ | 115,265 | $ | 14,190 | $ | — | $ | 4,538 | $ | 133,993 | |||||||||||
Intangible Assets and Accumulated Amortization Balances | ' | ||||||||||||||||||||
The following table presents intangible assets and accumulated amortization balances of the Company as of December 31, 2012 and September 30, 2013, respectively: | |||||||||||||||||||||
Gross | Net | ||||||||||||||||||||
Carrying | Accumulated | Carrying | |||||||||||||||||||
Amount | Amortization | Amount | |||||||||||||||||||
Customer relationships | $ | 135,741 | $ | (34,184 | ) | $ | 101,557 | ||||||||||||||
Developed technology | 9,574 | (4,143 | ) | 5,431 | |||||||||||||||||
Other | 10,337 | (601 | ) | 9,736 | |||||||||||||||||
Balance at December 31, 2012 | $ | 155,652 | $ | (38,928 | ) | $ | 116,724 | ||||||||||||||
Customer relationships | $ | 133,661 | $ | (43,586 | ) | $ | 90,075 | ||||||||||||||
Developed technology | 9,678 | (5,381 | ) | 4,297 | |||||||||||||||||
Other | 9,445 | (925 | ) | 8,520 | |||||||||||||||||
Balance at September 30, 2013 | $ | 152,784 | $ | (49,892 | ) | $ | 102,892 | ||||||||||||||
Restructuring_Tables
Restructuring (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Summary of Activity of Restructuring | ' | ||||||||||||||||
The following table summarizes the activity in the restructuring liability for these initiatives for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other | ||||||||||||||||
Separation | Exit | Asset | |||||||||||||||
Costs | Costs | Impairments | Total | ||||||||||||||
Balance at January 1, 2013 | $ | 2,054 | $ | 61 | $ | — | $ | 2,115 | |||||||||
Expense | 299 | 1,309 | 1,110 | 2,718 | |||||||||||||
Cash payments and foreign exchange translation | (903 | ) | (1,306 | ) | — | (2,209 | ) | ||||||||||
Utilization of reserve | — | — | (1,110 | ) | (1,110 | ) | |||||||||||
Balance at September 30, 2013 | $ | 1,450 | $ | 64 | $ | — | $ | 1,514 | |||||||||
The following table summarizes the activity in the restructuring liability for these initiatives for the nine months ended September 30, 2013: | |||||||||||||||||
Employee | Other | ||||||||||||||||
Separation | Exit | Asset | |||||||||||||||
Costs | Costs | Impairments | Total | ||||||||||||||
Balance at January 1, 2013 | $ | 13,507 | $ | — | $ | — | $ | 13,507 | |||||||||
Expense | 2,724 | 378 | — | 3,102 | |||||||||||||
Cash payments and foreign exchange translation | (14,295 | ) | (378 | ) | — | (14,673 | ) | ||||||||||
Balance at September 30, 2013 | $ | 1,936 | $ | — | $ | — | $ | 1,936 | |||||||||
Restructuring Charges [Member] | ' | ||||||||||||||||
Summary of Activity of Restructuring | ' | ||||||||||||||||
The following table summarizes the restructuring expense for these initiatives for the three and nine months ended September 30, 2012 and 2013: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Employee separation costs | $ | 295 | $ | 54 | $ | (1,516 | ) | $ | 299 | ||||||||
Other exit costs | 869 | 167 | 4,242 | 1,309 | |||||||||||||
Asset Impairments | — | 1,023 | 147 | 1,110 | |||||||||||||
Postretirement benefit curtailment gain | — | — | (1,539 | ) | — | ||||||||||||
$ | 1,164 | $ | 1,244 | $ | 1,334 | $ | 2,718 | ||||||||||
The following table summarizes the restructuring expense for these initiatives for the three and nine months ended September 30, 2012 and 2013: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Employee separation costs | $ | 8,797 | $ | 108 | $ | 14,053 | $ | 2,724 | |||||||||
Other exit costs | 210 | 241 | 210 | 378 | |||||||||||||
$ | 9,007 | $ | 349 | $ | 14,263 | $ | 3,102 | ||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Summary of Inventories | ' | ||||||||
Inventories were comprised of the following at December 31, 2012 and September 30, 2013: | |||||||||
December 31, | September 30, | ||||||||
2012 | 2013 | ||||||||
Finished goods | $ | 37,415 | $ | 43,361 | |||||
Work in process | 32,383 | 41,027 | |||||||
Raw materials and supplies | 73,455 | 102,370 | |||||||
$ | 143,253 | $ | 186,758 | ||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Outstanding Debt | ' | ||||||||
Outstanding debt consisted of the following at December 31, 2012 and September 30, 2013: | |||||||||
December 31, | September 30, | ||||||||
2012 | 2013 | ||||||||
Senior notes | $ | 450,000 | $ | 450,000 | |||||
Senior PIK toggle notes | — | 196,281 | |||||||
Other borrowings | 33,365 | 32,951 | |||||||
Total debt | $ | 483,365 | $ | 679,232 | |||||
Less current portion | (32,556 | ) | (30,264 | ) | |||||
Total long-term debt | $ | 450,809 | $ | 648,968 | |||||
Pension_and_Postretirement_Ben1
Pension and Postretirement Benefits other than Pensions (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Net Periodic Benefit Cost of Defined Benefit Plans and Other Postretirement Benefit Plans | ' | ||||||||||||||||
The following tables disclose the amount of net periodic benefit cost for the three and nine months ended September 30, 2012 and 2013 for the Company’s defined benefit plans and other postretirement benefit plans: | |||||||||||||||||
Pension Benefits | |||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 287 | $ | 778 | $ | 305 | $ | 881 | |||||||||
Interest cost | 3,476 | 1,919 | 3,052 | 1,694 | |||||||||||||
Expected return on plan assets | (3,868 | ) | (1,010 | ) | (4,342 | ) | (927 | ) | |||||||||
Amortization of prior service cost and recognized actuarial loss | 124 | 96 | 344 | 325 | |||||||||||||
Net periodic benefit cost (gain) | $ | 19 | $ | 1,783 | $ | (641 | ) | $ | 1,973 | ||||||||
Pension Benefits | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 861 | $ | 2,366 | $ | 915 | $ | 2,646 | |||||||||
Interest cost | 10,428 | 5,830 | 9,156 | 5,095 | |||||||||||||
Expected return on plan assets | (11,604 | ) | (3,010 | ) | (13,026 | ) | (2,812 | ) | |||||||||
Amortization of prior service cost and recognized actuarial loss | 372 | 284 | 1,032 | 981 | |||||||||||||
Settlement | — | — | 783 | — | |||||||||||||
Net periodic benefit cost (gain) | $ | 57 | $ | 5,470 | $ | (1,140 | ) | $ | 5,910 | ||||||||
Other Postretirement Benefits | |||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 136 | $ | 163 | $ | 147 | $ | 163 | |||||||||
Interest cost | 449 | 206 | 407 | 183 | |||||||||||||
Amortization of prior service credit and recognized actuarial gain | (444 | ) | (14 | ) | (281 | ) | (35 | ) | |||||||||
Other | 19 | — | 6 | — | |||||||||||||
Net periodic benefit cost | $ | 160 | $ | 355 | $ | 279 | $ | 311 | |||||||||
Other Postretirement Benefits | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2012 | 2013 | ||||||||||||||||
U.S. | Non-U.S. | U.S. | Non-U.S. | ||||||||||||||
Service cost | $ | 408 | $ | 486 | $ | 441 | $ | 497 | |||||||||
Interest cost | 1,347 | 614 | 1,221 | 557 | |||||||||||||
Amortization of prior service credit and recognized actuarial gain | (1,332 | ) | (41 | ) | (843 | ) | (106 | ) | |||||||||
Other | 57 | — | 18 | — | |||||||||||||
Curtailment gain | (1,539 | ) | — | — | — | ||||||||||||
Net periodic benefit cost (gain) | $ | (1,059 | ) | $ | 1,059 | $ | 837 | $ | 948 | ||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||
The changes in accumulated other comprehensive income (loss) by component for the three and nine months ended September 30, 2013, net of related tax, are as follows: | |||||||||||||||||
Three Months ended September 30, 2013 | |||||||||||||||||
Cumulative currency | Benefit plan | Fair value | Accumulated other | ||||||||||||||
translation | liability | change of | comprehensive loss | ||||||||||||||
adjustment | derivatives | ||||||||||||||||
Balance at July 1, 2013 | $ | (5,111 | ) | $ | (62,673 | ) | $ | (166 | ) | $ | (67,950 | ) | |||||
Other comprehensive income (loss) before reclassifications | 14,501 | (979 | ) | 130 | 13,652 | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 239 | (39 | ) | 200 | ||||||||||||
Net current period other comprehensive income (loss)(1) | 14,501 | (740 | ) | 91 | 13,852 | ||||||||||||
Balance at September 30, 2013 | $ | 9,390 | $ | (63,413 | ) | $ | (75 | ) | $ | (54,098 | ) | ||||||
Amounts in parentheses indicate debits. | |||||||||||||||||
(1) Other comprehensive income (loss) related to the benefit plan liability is net of a tax effect of $24. Other comprehensive income (loss) related to the fair value change of derivatives is net of a tax effect of $3. | |||||||||||||||||
Nine Months ended September 30, 2013 | |||||||||||||||||
Cumulative currency | Benefit plan | Fair value | Accumulated other | ||||||||||||||
translation | liability | change of | comprehensive loss | ||||||||||||||
adjustment | derivatives | ||||||||||||||||
Balance at January 1, 2013 | $ | 18,320 | $ | (64,018 | ) | $ | 250 | $ | (45,448 | ) | |||||||
Other comprehensive loss before reclassifications | (8,930 | ) | (74 | ) | (53 | ) | (9,057 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 679 | (272 | ) | 407 | ||||||||||||
Net current period other comprehensive income (loss)(1) | (8,930 | ) | 605 | (325 | ) | (8,650 | ) | ||||||||||
Balance at September 30, 2013 | $ | 9,390 | $ | (63,413 | ) | $ | (75 | ) | $ | (54,098 | ) | ||||||
Amounts in parentheses indicate debits. | |||||||||||||||||
(1) Other comprehensive income (loss) related to the benefit plan liability is net of a tax effect of ($376). Other comprehensive income (loss) related to the fair value change of derivatives is net of a tax effect of $128. | |||||||||||||||||
Reclassifications Out of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||
The reclassifications out of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2013 are as follows: | |||||||||||||||||
Gain (loss) reclassified | Location of gain (loss) reclassified into | ||||||||||||||||
Details about accumulated other | Three months ended | Nine months ended | income | ||||||||||||||
comprehensive loss components | September 30, 2013 | September 30, 2013 | |||||||||||||||
Fair value change of derivatives | |||||||||||||||||
Interest rate contracts | $ | (21 | ) | $ | 209 | Interest expense, net of interest income | |||||||||||
Foreign exchange contracts | 68 | 181 | Cost of products sold | ||||||||||||||
47 | 390 | Income before income taxes | |||||||||||||||
(8 | ) | (118 | ) | Income tax expense | |||||||||||||
$ | 39 | $ | 272 | Consolidated net income | |||||||||||||
Amortization of defined benefit and other postretirement benefit plans | |||||||||||||||||
Prior service credits | $ | 161 | $ | 472 | (1) | ||||||||||||
Actuarial losses | (495 | ) | (1,427 | )(1) | |||||||||||||
(334 | ) | (955 | ) | Income before income taxes | |||||||||||||
95 | 276 | Income tax benefit | |||||||||||||||
$ | (239 | ) | $ | (679 | ) | Consolidated net income | |||||||||||
Total reclassifications for the period | $ | (200 | ) | $ | (407 | ) | |||||||||||
(1) | These accumulated other comprehensive income components are included in the computation of net periodic pension cost. (See Note 7. “Pension and Postretirement Benefits other than Pensions” for additional details.) | ||||||||||||||||
Summary of Equity and Redeemable Noncontrolling Interest Activity | ' | ||||||||||||||||
The following table summarizes the Company’s equity and redeemable noncontrolling interest activity for the nine months ended September 30, 2013: | |||||||||||||||||
Cooper- | Noncontrolling | Total | Redeemable | ||||||||||||||
Standard | Interest | Equity | Noncontrolling | ||||||||||||||
Holdings Inc. | Interests | ||||||||||||||||
Equity at January 1, 2013 | $ | 628,326 | $ | 905 | $ | 629,231 | $ | 14,194 | |||||||||
Net income (loss) | 68,729 | (25 | ) | 68,704 | (2,399 | ) | |||||||||||
Preferred stock dividends | (4,569 | ) | — | (4,569 | ) | — | |||||||||||
Repurchase of common stock | (217,549 | ) | — | (217,549 | ) | — | |||||||||||
Conversion of preferred shares | 18,252 | — | 18,252 | ||||||||||||||
Warrant exercise | 11,252 | — | 11,252 | — | |||||||||||||
Other comprehensive income (loss) | (8,650 | ) | (1 | ) | (8,651 | ) | 60 | ||||||||||
Stock-based compensation | 3,026 | — | 3,026 | — | |||||||||||||
Shares issued under stock option plans | (593 | ) | — | (593 | ) | — | |||||||||||
Accretion of redeemable noncontrolling interests | (656 | ) | — | (656 | ) | 656 | |||||||||||
Purchase of noncontrolling interest | (885 | ) | (1,026 | ) | (1,911 | ) | — | ||||||||||
Equity at September 30, 2013 | $ | 496,683 | $ | (147 | ) | $ | 496,536 | $ | 12,511 | ||||||||
Net_Income_Per_Share_Attributa1
Net Income Per Share Attributable to Cooper-Standard Holdings Inc. (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Basic and Diluted Net Income Per Share Attributable | ' | ||||||||||||||||
A summary of information used to compute basic and diluted net income per share attributable to Cooper-Standard Holdings Inc. is shown below: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Net income attributable to Cooper-Standard Holdings Inc. | $ | 11,624 | $ | 20,596 | $ | 112,727 | $ | 68,729 | |||||||||
Less: 7% Preferred stock dividends (paid or unpaid) | (1,699 | ) | (1,419 | ) | (5,087 | ) | (4,569 | ) | |||||||||
Less: Premium paid for redemption of 7% preferred stock | — | — | (974 | ) | — | ||||||||||||
Less: Undistributed earnings allocated to participating securities | (1,888 | ) | (4,033 | ) | (20,078 | ) | (13,101 | ) | |||||||||
Basic net income available to Cooper-Standard Holdings Inc. common stockholders | $ | 8,037 | $ | 15,144 | $ | 86,588 | $ | 51,059 | |||||||||
Increase in fair value of share-based awards | $ | — | $ | 212 | $ | — | $ | 466 | |||||||||
Diluted net income available to Cooper-Standard Holdings Inc. common stockholders | $ | 8,037 | $ | 15,356 | $ | 86,588 | $ | 51,525 | |||||||||
Basic weighted average shares of common stock outstanding | 17,454,226 | 13,045,575 | 17,578,580 | 14,621,535 | |||||||||||||
Dilutive effect of: | |||||||||||||||||
Restricted common stock | 172,586 | 144,086 | 270,230 | 206,588 | |||||||||||||
Restricted 7% preferred stock | 19,181 | — | 47,833 | 19,949 | |||||||||||||
Warrants | 570,067 | 899,420 | 699,533 | 800,116 | |||||||||||||
Options | 77,707 | 162,878 | 111,023 | 139,655 | |||||||||||||
Diluted weighted average shares of common stock outstanding | 18,293,767 | 14,251,959 | 18,707,199 | 15,787,843 | |||||||||||||
Basic net income per share attributable to Cooper-Standard Holdings Inc. | $ | 0.46 | $ | 1.16 | $ | 4.93 | $ | 3.49 | |||||||||
Diluted net income per share attributable to Cooper-Standard Holdings Inc. | $ | 0.44 | $ | 1.08 | $ | 4.63 | $ | 3.26 | |||||||||
Preferred Shares (as if Converted) and Options | ' | ||||||||||||||||
A summary of these shares of 7% preferred stock (as if converted) and options are shown below: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Number of options | 272,800 | 131,000 | 272,800 | 131,000 | |||||||||||||
Exercise price | $ | 43.50-46.75 | $ | 52.25-52.50 | $ | 43.50-46.75 | $ | 52.25-52.50 | |||||||||
7% Preferred stock, as if converted | 4,099,692 | 3,479,719 | 4,076,150 | 3,751,800 | |||||||||||||
7% Preferred stock dividends, undistributed earnings and premium allocated to participating securities that would be added back in the diluted calculation | $ | 3,587 | $ | 5,460 | $ | 26,139 | $ | 17,670 |
Redeemable_Preferred_Stock_Tab
Redeemable Preferred Stock (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Reconciliation of Company's 7% Preferred Stock Activity | ' | ||||||||
The following table reconciles the Company’s 7% preferred stock activity for the nine months ended September 30, 2013: | |||||||||
Preferred Shares | Preferred Stock | ||||||||
Balance at January 1, 2013 | 958,333 | $ | 121,649 | ||||||
Stock-based compensation | — | 745 | |||||||
Converted preferred stock shares | (142,590 | ) | (18,252 | ) | |||||
Repurchased preferred stock shares | (4,363 | ) | (561 | ) | |||||
Forfeited shares | (998 | ) | — | ||||||
Balance at September 30, 2013 | 810,382 | $ | 103,581 | ||||||
Other_Income_Expense_Net_Table
Other Income (Expense), Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Details of Components of Other Income Expense, Net | ' | ||||||||||||||||
The components of other income (expense), net are as follows: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Foreign currency gains (losses) | $ | (193 | ) | $ | 813 | $ | (4,516 | ) | $ | (6,351 | ) | ||||||
Unrealized gains (losses) related to forward contracts | 1,476 | 401 | 3,836 | (92 | ) | ||||||||||||
Loss on sale of receivables | (165 | ) | (437 | ) | (689 | ) | (1,235 | ) | |||||||||
Miscellaneous income | — | 183 | 920 | 2,293 | |||||||||||||
Other income (expense), net | $ | 1,118 | $ | 960 | $ | (449 | ) | $ | (5,385 | ) | |||||||
Business_Segments_Tables
Business Segments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Information on Company's Business Segments | ' | ||||||||||||||||
The following table details information on the Company’s business segments: | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Sales to external customers | |||||||||||||||||
North America | $ | 363,859 | $ | 408,615 | $ | 1,139,273 | $ | 1,191,521 | |||||||||
Europe | 227,556 | 258,028 | 780,780 | 806,182 | |||||||||||||
South America | 39,208 | 43,069 | 107,282 | 138,746 | |||||||||||||
Asia Pacific | 53,406 | 54,345 | 156,459 | 159,892 | |||||||||||||
Consolidated | $ | 684,029 | $ | 764,057 | $ | 2,183,794 | $ | 2,296,341 | |||||||||
Intersegment sales | |||||||||||||||||
North America | $ | 1,646 | 2,121 | $ | 5,979 | 8,959 | |||||||||||
Europe | 2,107 | 2,440 | 6,489 | 6,837 | |||||||||||||
South America | 37 | — | 159 | — | |||||||||||||
Asia Pacific | 2,091 | 3,013 | 6,105 | 7,434 | |||||||||||||
Eliminations and other | (5,881 | ) | (7,574 | ) | (18,732 | ) | (23,230 | ) | |||||||||
Consolidated | $ | — | $ | — | $ | — | $ | — | |||||||||
Segment profit (loss) | |||||||||||||||||
North America | $ | 32,790 | $ | 31,726 | $ | 113,922 | $ | 103,158 | |||||||||
Europe | (19,319 | ) | (7,500 | ) | (33,442 | ) | (14,784 | ) | |||||||||
South America | (1,028 | ) | (1,838 | ) | (6,413 | ) | (5,760 | ) | |||||||||
Asia Pacific | 3,307 | 2,365 | 3,447 | 8,251 | |||||||||||||
Income before income taxes | $ | 15,750 | $ | 24,753 | $ | 77,514 | $ | 90,865 | |||||||||
Restructuring cost included in segment profit (loss) | |||||||||||||||||
North America | $ | 276 | $ | 73 | $ | 755 | $ | 1,961 | |||||||||
Europe | 9,802 | 1,517 | 14,715 | 5,476 | |||||||||||||
South America | — | — | — | — | |||||||||||||
Asia Pacific | 93 | 317 | 288 | 318 | |||||||||||||
Consolidated | $ | 10,171 | $ | 1,907 | $ | 15,758 | $ | 7,755 | |||||||||
December 31, | September 30, | ||||||||||||||||
2012 | 2013 | ||||||||||||||||
Segment assets | |||||||||||||||||
North America | $ | 772,269 | $ | 878,213 | |||||||||||||
Europe | 593,340 | 613,907 | |||||||||||||||
South America | 145,257 | 161,792 | |||||||||||||||
Asia Pacific | 223,801 | 249,829 | |||||||||||||||
Eliminations and other | 291,310 | 189,776 | |||||||||||||||
Consolidated | $ | 2,025,977 | $ | 2,093,517 | |||||||||||||
Guarantor_and_NonGuarantor_Sub1
Guarantor and Non-Guarantor Subsidiaries (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ' | ||||||||||||||||||||||||
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 | ' | ||||||||||||||||||||||||
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 | ' | ||||||||||||||||||||||||
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 |
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Hierarchy Level for Company's Liabilities Measured | ' | ||||||||||||||||
Fair value measurements and the fair value hierarchy level for the Company’s liabilities measured or disclosed at fair value on a recurring basis as of December 31, 2012 and September 30, 2013, are shown below: | |||||||||||||||||
December 31, 2012 | |||||||||||||||||
Contract | Asset | Level 1 | Level 2 | Level 3 | |||||||||||||
(Liability) | |||||||||||||||||
Interest rate swap | $ | (68 | ) | $ | — | $ | (68 | ) | $ | — | |||||||
Forward foreign exchange contracts | (29 | ) | — | (29 | ) | — | |||||||||||
Total | $ | (97 | ) | $ | — | $ | (97 | ) | $ | — | |||||||
30-Sep-13 | |||||||||||||||||
Contract | Asset | Level 1 | Level 2 | Level 3 | |||||||||||||
(Liability) | |||||||||||||||||
Interest rate swap | $ | — | $ | — | $ | — | $ | — | |||||||||
Forward foreign exchange contracts | (236 | ) | — | (236 | ) | — | |||||||||||
Total | $ | (236 | ) | $ | — | $ | (236 | ) | $ | — | |||||||
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (Jyco [Member], USD $) | 1 Months Ended |
In Thousands, unless otherwise specified | Jul. 31, 2013 |
Jyco [Member] | ' |
Business Acquisition [Line Items] | ' |
Payment for acquisition | $14,382 |
Acquisitions_Summary_of_Estima
Acquisitions - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed at Date of Acquisition (Detail) (Jyco [Member], USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Jyco [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash and cash equivalents | $878 |
Accounts receivable | 9,407 |
Tooling receivable | 2,036 |
Inventories | 6,593 |
Property, plant, and equipment | 14,055 |
Other assets | 886 |
Total assets acquired | 33,855 |
Accounts payable | 10,418 |
Other current liabilities | 7,021 |
Other long-term liabilities | 2,034 |
Total liabilities assumed | 19,473 |
Net assets acquired | $14,382 |
Goodwill_and_Intangibles_Addit
Goodwill and Intangibles - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2013 |
Segment | Scenario, Previously Reported [Member] | Scenario, Forecast [Member] | ||||
Segment | ||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' |
Number of operating segment | 4 | ' | ' | ' | 2 | ' |
Amortization expenses | $3,785 | $3,866 | $11,534 | $11,590 | ' | ' |
Estimated Amortization Expenses | ' | ' | ' | ' | ' | $15,300 |
Goodwill_and_Intangibles_Carry
Goodwill and Intangibles - Carrying Amount of Goodwill by Reportable Operating Segment (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Goodwill [Line Items] | ' |
Goodwill, Beginning Balance | $133,716 |
Foreign exchange translation | 277 |
Goodwill, Ending Balance | 133,993 |
North America [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, Beginning Balance | 115,420 |
Foreign exchange translation | -155 |
Goodwill, Ending Balance | 115,265 |
Europe [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, Beginning Balance | 13,836 |
Foreign exchange translation | 354 |
Goodwill, Ending Balance | 14,190 |
South America [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, Beginning Balance | ' |
Foreign exchange translation | ' |
Goodwill, Ending Balance | ' |
Asia Pacific [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, Beginning Balance | 4,460 |
Foreign exchange translation | 78 |
Goodwill, Ending Balance | $4,538 |
Goodwill_and_Intangibles_Intan
Goodwill and Intangibles - Intangible Assets and Accumulated Amortization Balances (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $152,784 | $155,652 |
Accumulated Amortization | -49,892 | -38,928 |
Net Carrying Amount | 102,892 | 116,724 |
Customer relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 133,661 | 135,741 |
Accumulated Amortization | -43,586 | -34,184 |
Net Carrying Amount | 90,075 | 101,557 |
Developed technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 9,678 | 9,574 |
Accumulated Amortization | -5,381 | -4,143 |
Net Carrying Amount | 4,297 | 5,431 |
Other [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 9,445 | 10,337 |
Accumulated Amortization | -925 | -601 |
Net Carrying Amount | $8,520 | $9,736 |
Restructuring_Additional_Infor
Restructuring - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Jan. 01, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Europe Facilities [Member] | Restructuring activities prior years [Member] | Korea Facility [Member] | Korea Facility [Member] | |||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Completion period of initiative | ' | ' | ' | ' | ' | '2013 | '2014 | ' |
Aggregate expense incurred related to restructuring | ' | $1,621 | ' | ' | $23,854 | ' | $314 | $314 |
Liability related to restructuring activities | ' | ' | ' | 4,886 | ' | ' | 316 | 316 |
Restructuring expense reversed | 4,725 | ' | ' | ' | ' | ' | ' | ' |
Estimated (Additional) restructuring cost for initiative | ' | ' | $0 | ' | ' | ' | $1,000 | ' |
Restructuring_Summary_of_Restr
Restructuring - Summary of Restructuring Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | $1,907 | $10,171 | $7,755 | $15,758 |
Restructuring activities prior years [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 1,244 | 1,164 | 2,718 | 1,334 |
Restructuring activities prior years [Member] | Employee Separation Costs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 54 | 295 | 299 | -1,516 |
Restructuring activities prior years [Member] | Other exit costs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 167 | 869 | 1,309 | 4,242 |
Restructuring activities prior years [Member] | Asset Impairments [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 1,023 | ' | 1,110 | 147 |
Restructuring activities prior years [Member] | Postretirement benefit curtailment gain [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | ' | ' | ' | -1,539 |
Restructuring activities 2012 [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 349 | 9,007 | 3,102 | 14,263 |
Restructuring activities 2012 [Member] | Employee Separation Costs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 108 | 8,797 | 2,724 | 14,053 |
Restructuring activities 2012 [Member] | Other exit costs [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | 241 | 210 | 378 | 210 |
Restructuring activities 2012 [Member] | Asset Impairments [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Restructuring | ' | ' | ' | ' |
Restructuring_Summary_of_Activ
Restructuring - Summary of Activity of Restructuring (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | ' | ' | $4,886 |
Restructuring | 1,907 | 10,171 | 7,755 | 15,758 | ' |
Restructuring Reserve, Ending Balance | ' | ' | ' | ' | 4,886 |
Restructuring activities prior years [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | 2,115 | ' | ' |
Restructuring | ' | ' | 2,718 | ' | ' |
Cash payments and foreign exchange translation | ' | ' | -2,209 | ' | ' |
Utilization of reserve | ' | ' | -1,110 | ' | ' |
Restructuring Reserve, Ending Balance | 1,514 | ' | 1,514 | ' | ' |
Restructuring activities 2012 [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | 13,507 | ' | ' |
Restructuring | 349 | 9,007 | 3,102 | 14,263 | ' |
Cash payments and foreign exchange translation | ' | ' | -14,673 | ' | ' |
Restructuring Reserve, Ending Balance | 1,936 | ' | 1,936 | ' | ' |
Employee Separation Costs [Member] | Restructuring activities prior years [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | 2,054 | ' | ' |
Restructuring | ' | ' | 299 | ' | ' |
Cash payments and foreign exchange translation | ' | ' | -903 | ' | ' |
Utilization of reserve | ' | ' | ' | ' | ' |
Restructuring Reserve, Ending Balance | 1,450 | ' | 1,450 | ' | ' |
Employee Separation Costs [Member] | Restructuring activities 2012 [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | 13,507 | ' | ' |
Restructuring | 108 | 8,797 | 2,724 | 14,053 | ' |
Cash payments and foreign exchange translation | ' | ' | -14,295 | ' | ' |
Restructuring Reserve, Ending Balance | 1,936 | ' | 1,936 | ' | ' |
Other exit costs [Member] | Restructuring activities prior years [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | 61 | ' | ' |
Restructuring | ' | ' | 1,309 | ' | ' |
Cash payments and foreign exchange translation | ' | ' | -1,306 | ' | ' |
Utilization of reserve | ' | ' | ' | ' | ' |
Restructuring Reserve, Ending Balance | 64 | ' | 64 | ' | ' |
Other exit costs [Member] | Restructuring activities 2012 [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | ' | ' | ' |
Restructuring | 241 | 210 | 378 | 210 | ' |
Cash payments and foreign exchange translation | ' | ' | -378 | ' | ' |
Restructuring Reserve, Ending Balance | ' | ' | ' | ' | ' |
Asset Impairments [Member] | Restructuring activities prior years [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | ' | ' | ' |
Restructuring | ' | ' | 1,110 | ' | ' |
Cash payments and foreign exchange translation | ' | ' | ' | ' | ' |
Utilization of reserve | ' | ' | -1,110 | ' | ' |
Restructuring Reserve, Ending Balance | ' | ' | ' | ' | ' |
Asset Impairments [Member] | Restructuring activities 2012 [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Restructuring Reserve, Beginning Balance | ' | ' | ' | ' | ' |
Restructuring | ' | ' | ' | ' | ' |
Cash payments and foreign exchange translation | ' | ' | ' | ' | ' |
Restructuring Reserve, Ending Balance | ' | ' | ' | ' | ' |
Inventories_Summary_of_Invento
Inventories - Summary of Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Finished goods | $43,361 | $37,415 |
Work in process | 41,027 | 32,383 |
Raw materials and supplies | 102,370 | 73,455 |
Inventories | $186,758 | $143,253 |
Debt_Outstanding_Debt_Detail
Debt - Outstanding Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Senior notes | $450,000 | $450,000 |
Senior PIK toggle notes | 196,281 | ' |
Other borrowings | 32,951 | 33,365 |
Total debt | 679,232 | 483,365 |
Less current portion | -30,264 | -32,556 |
Total long-term debt | $648,968 | $450,809 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Apr. 03, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Apr. 08, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 20-May-13 | Apr. 03, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Amended Senior Abl Facility [Member] | Amended Senior Abl Facility [Member] | Senior ABL Facility [Member] | Senior PIK Toggle Notes [Member] | Senior PIK Toggle Notes [Member] | Senior PIK Toggle Notes [Member] | 7.375% Senior PIK Toggle Notes [Member] | |||
Credit Facilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate revolving loan availability | ' | ' | ' | ' | $150,000 | ' | ' | ' | ' | ' |
Letter of credit sub-facility | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' |
Swing line sub-facility | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' |
Uncommitted incremental loan facility | ' | ' | ' | ' | 75,000 | ' | ' | ' | ' | ' |
Total Senior ABL Facility | ' | ' | ' | ' | 225,000 | ' | ' | ' | ' | ' |
Amounts drawn under Amended and Restated Senior ABL Facility | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | ' | 26,422 | ' | ' | ' | ' |
Senior unsecured notes principal amount | 450,000 | ' | 450,000 | ' | ' | ' | ' | ' | 175,000 | ' |
Senior secured PIK Toggle note maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Apr-18 |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' |
Discount on Senior PIK Toggle Notes | ' | $3,938 | ' | ' | ' | ' | ' | $188 | ' | ' |
Interest rate accrue | 7.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
PIK Interest rate accrue | 8.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of principal amount redeemed | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' |
Pension_and_Postretirement_Ben2
Pension and Postretirement Benefits other than Pensions - Net Periodic Benefit Cost of Defined Benefit Plans and Other Postretirement Benefit Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
U.S. Pension Benefits [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Service cost | $305 | $287 | $915 | $861 |
Interest cost | 3,052 | 3,476 | 9,156 | 10,428 |
Expected return on plan assets | -4,342 | -3,868 | -13,026 | -11,604 |
Amortization of prior service cost and recognized actuarial loss | 344 | 124 | 1,032 | 372 |
Settlement | ' | ' | 783 | ' |
Net periodic benefit cost (gain) | -641 | 19 | -1,140 | 57 |
Non-U.S. Pension Benefits [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Service cost | 881 | 778 | 2,646 | 2,366 |
Interest cost | 1,694 | 1,919 | 5,095 | 5,830 |
Expected return on plan assets | -927 | -1,010 | -2,812 | -3,010 |
Amortization of prior service cost and recognized actuarial loss | 325 | 96 | 981 | 284 |
Settlement | ' | ' | ' | ' |
Net periodic benefit cost (gain) | 1,973 | 1,783 | 5,910 | 5,470 |
U.S. Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Service cost | 147 | 136 | 441 | 408 |
Interest cost | 407 | 449 | 1,221 | 1,347 |
Amortization of prior service cost and recognized actuarial loss | -281 | -444 | -843 | -1,332 |
Other | 6 | 19 | 18 | 57 |
Curtailment gain | ' | ' | ' | -1,539 |
Net periodic benefit cost (gain) | 279 | 160 | 837 | -1,059 |
Non-U.S. Other Postretirement Benefits [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Service cost | 163 | 163 | 497 | 486 |
Interest cost | 183 | 206 | 557 | 614 |
Amortization of prior service cost and recognized actuarial loss | -35 | -14 | -106 | -41 |
Other | ' | ' | ' | ' |
Curtailment gain | ' | ' | ' | ' |
Net periodic benefit cost (gain) | $311 | $355 | $948 | $1,059 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective tax rate | 18.00% | 34.00% | 27.00% | -42.00% |
Effective tax rate excluding impact of valuation allowance | ' | 34.00% | ' | 20.00% |
Tax benefit realized by valuation allowance on deferred tax assets | ' | ($19,500) | ' | ' |
Utilization of Valuation Allowances [Member] | ' | ' | ' | ' |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Approximate tax benefit related to reduction in valuation allowance | ' | ($48,300) | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests - Changes in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 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 |
In Thousands, unless otherwise specified | Cumulative currency translation adjustment [Member] | Cumulative currency translation adjustment [Member] | Benefit plan liability [Member] | Benefit plan liability [Member] | Fair value change of derivatives [Member] | Fair value change of derivatives [Member] | Accumulated other comprehensive loss [Member] | Accumulated other comprehensive loss [Member] | ||
Accumulated Other Comprehensive Income Loss Net Of Tax [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance | ($54,098) | ($45,448) | ($5,111) | $18,320 | ($62,673) | ($64,018) | ($166) | $250 | ($67,950) | ($45,448) |
Other comprehensive income (loss) before reclassifications | ' | ' | 14,501 | -8,930 | -979 | -74 | 130 | -53 | 13,652 | -9,057 |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | ' | ' | 239 | 679 | -39 | -272 | 200 | 407 |
Net current period other comprehensive income (loss) | ' | ' | 14,501 | -8,930 | -740 | 605 | 91 | -325 | 13,852 | -8,650 |
Ending Balance | ($54,098) | ($45,448) | $9,390 | $9,390 | ($63,413) | ($63,413) | ($75) | ($75) | ($54,098) | ($54,098) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests - Changes in Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Equity [Abstract] | ' | ' |
Other comprehensive income (loss) related to benefit plan liability, net of tax | $24 | ($376) |
Other comprehensive income (loss) related to fair value change of derivatives, net of tax | ($3) | ($128) |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests - Reclassifications Out of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Fair value change of derivatives | ' | ' |
Fair value change of derivatives, Income before income taxes | $47 | $390 |
Fair value change of derivatives, Income tax expense | -8 | -118 |
Fair value change of derivatives, Consolidated net income | 39 | 272 |
Amortization of defined benefit and other postretirement benefit plans | ' | ' |
Amortization of defined benefit and other postretirement benefit plans, Prior service credits | 161 | 472 |
Amortization of defined benefit and other postretirement benefit plans, Actuarial losses | -495 | -1,427 |
Amortization of defined benefit and other postretirement benefit plans, Income before income taxes | -334 | -955 |
Amortization of defined benefit and other postretirement benefit plans, Income tax expense | 95 | 276 |
Amortization of defined benefit and other postretirement benefit plans, Consolidated net income | -239 | -679 |
Total reclassifications for the period | -200 | -407 |
Interest expense, net of interest income [Member] | Interest Rate Contract [Member] | ' | ' |
Fair value change of derivatives | ' | ' |
Fair value change of derivatives, Income before income taxes | -21 | 209 |
Cost of products sold [Member] | Foreign Exchange Contract [Member] | ' | ' |
Fair value change of derivatives | ' | ' |
Fair value change of derivatives, Income before income taxes | $68 | $181 |
Accumulated_Other_Comprehensiv5
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests - Summary of Equity and Redeemable Noncontrolling Interest Activity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Equity And Noncontrolling Interests [Line Items] | ' | ' | ' | ' |
Equity at January 1, 2013 | ' | ' | $629,231 | ' |
Net income (loss) | 20,286 | 10,358 | 66,305 | 110,286 |
Repurchase of common stock | ' | ' | -217,549 | -20,636 |
Conversion of preferred shares | ' | ' | -18,252 | ' |
Warrant exercise | ' | ' | 11,252 | ' |
Equity at September 30, 2013 | 496,536 | ' | 496,536 | ' |
Cooper-Standard Holdings Inc. [Member] | ' | ' | ' | ' |
Equity And Noncontrolling Interests [Line Items] | ' | ' | ' | ' |
Equity at January 1, 2013 | ' | ' | 628,326 | ' |
Net income (loss) | ' | ' | 68,729 | ' |
Preferred stock dividends | ' | ' | -4,569 | ' |
Repurchase of common stock | ' | ' | -217,549 | ' |
Conversion of preferred shares | ' | ' | 18,252 | ' |
Warrant exercise | ' | ' | 11,252 | ' |
Other comprehensive income (loss) | ' | ' | -8,650 | ' |
Stock-based compensation | ' | ' | 3,026 | ' |
Shares issued under stock option plans | ' | ' | -593 | ' |
Accretion of redeemable noncontrolling interests | ' | ' | -656 | ' |
Purchase of noncontrolling interest | ' | ' | -885 | ' |
Equity at September 30, 2013 | 496,683 | ' | 496,683 | ' |
Noncontrolling Interest [Member] | ' | ' | ' | ' |
Equity And Noncontrolling Interests [Line Items] | ' | ' | ' | ' |
Equity at January 1, 2013 | ' | ' | 905 | ' |
Net income (loss) | ' | ' | -25 | ' |
Preferred stock dividends | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' |
Conversion of preferred shares | ' | ' | ' | ' |
Warrant exercise | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | -1 | ' |
Stock-based compensation | ' | ' | ' | ' |
Shares issued under stock option plans | ' | ' | ' | ' |
Accretion of redeemable noncontrolling interests | ' | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | -1,026 | ' |
Equity at September 30, 2013 | -147 | ' | -147 | ' |
Redeemable Noncontrolling Interests [Member] | ' | ' | ' | ' |
Equity And Noncontrolling Interests [Line Items] | ' | ' | ' | ' |
Equity at January 1, 2013 | ' | ' | 14,194 | ' |
Net income (loss) | ' | ' | -2,399 | ' |
Preferred stock dividends | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | ' | ' |
Conversion of preferred shares | ' | ' | ' | ' |
Warrant exercise | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | 60 | ' |
Stock-based compensation | ' | ' | ' | ' |
Shares issued under stock option plans | ' | ' | ' | ' |
Accretion of redeemable noncontrolling interests | ' | ' | 656 | ' |
Purchase of noncontrolling interest | ' | ' | ' | ' |
Equity at September 30, 2013 | 12,511 | ' | 12,511 | ' |
Total Equity [Member] | ' | ' | ' | ' |
Equity And Noncontrolling Interests [Line Items] | ' | ' | ' | ' |
Equity at January 1, 2013 | ' | ' | 629,231 | ' |
Net income (loss) | ' | ' | 68,704 | ' |
Preferred stock dividends | ' | ' | -4,569 | ' |
Repurchase of common stock | ' | ' | -217,549 | ' |
Conversion of preferred shares | ' | ' | 18,252 | ' |
Warrant exercise | ' | ' | 11,252 | ' |
Other comprehensive income (loss) | ' | ' | -8,651 | ' |
Stock-based compensation | ' | ' | 3,026 | ' |
Shares issued under stock option plans | ' | ' | -593 | ' |
Accretion of redeemable noncontrolling interests | ' | ' | -656 | ' |
Purchase of noncontrolling interest | ' | ' | -1,911 | ' |
Equity at September 30, 2013 | $496,536 | ' | $496,536 | ' |
Accumulated_Other_Comprehensiv6
Accumulated Other Comprehensive Income (Loss), Equity and Redeemable Noncontrolling Interests - Additional Information (Detail) (Equity Tender Offer [Member], USD $) | 1 Months Ended | |
In Thousands, except Share data, unless otherwise specified | 31-May-13 | 2-May-13 |
Equity Tender Offer [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Cash tender offer to purchase price per share | $43 | ' |
Equity tender offer to purchase shares | ' | 4,651,162 |
Equity tender offer aggregate purchase price | $200,000 | ' |
Net_Income_Per_Share_Attributa2
Net Income Per Share Attributable to Cooper-Standard Holdings Inc - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Statement Of Partners Capital [Abstract] | ' | ' |
Preferred stock dividend rate, percentage | 7.00% | 7.00% |
Net_Income_Per_Share_Attributa3
Net Income Per Share Attributable to Cooper-Standard Holdings Inc - Basic and Diluted Net Income Per Share Attributable (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income attributable to Cooper-Standard Holdings Inc. | $20,596 | $11,624 | $68,729 | $112,727 |
Less: 7% Preferred stock dividends (paid or unpaid) | -1,419 | -1,699 | -4,569 | -5,087 |
Less: Premium paid for redemption of 7% preferred stock | ' | ' | ' | -974 |
Less: Undistributed earnings allocated to participating securities | -4,033 | -1,888 | -13,101 | -20,078 |
Basic net income available to Cooper-Standard Holdings Inc. common stockholders | 15,144 | 8,037 | 51,059 | 86,588 |
Increase in fair value of share-based awards | 212 | ' | 466 | ' |
Diluted net income available to Cooper-Standard Holdings Inc. common stockholders | $15,356 | $8,037 | $51,525 | $86,588 |
Basic weighted average shares of common stock outstanding | 13,045,575 | 17,454,226 | 14,621,535 | 17,578,580 |
Dilutive effect of: | ' | ' | ' | ' |
Restricted common stock | 144,086 | 172,586 | 206,588 | 270,230 |
Restricted 7% preferred stock | ' | 19,181 | 19,949 | 47,833 |
Warrants | 899,420 | 570,067 | 800,116 | 699,533 |
Options | 162,878 | 77,707 | 139,655 | 111,023 |
Diluted weighted average shares of common stock outstanding | 14,251,959 | 18,293,767 | 15,787,843 | 18,707,199 |
Basic net income per share attributable to Cooper-Standard Holdings Inc. | $1.16 | $0.46 | $3.49 | $4.93 |
Diluted net income per share attributable to Cooper-Standard Holdings Inc. | $1.08 | $0.44 | $3.26 | $4.63 |
Net_Income_Per_Share_Attributa4
Net Income Per Share Attributable to Cooper-Standard Holdings Inc - Basic and Diluted Net Income Per Share Attributable (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Earnings Per Share [Abstract] | ' | ' |
Preferred stock dividend rate, percentage | 7.00% | 7.00% |
Net_Income_Per_Share_Attributa5
Net Income Per Share Attributable to Cooper-Standard Holdings Inc - Preferred Shares (as if Converted) and Options (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Preferred dividends, undistributed earnings and premium allocated to participating securities that would be added back in the diluted calculation | $5,460 | $3,587 | $17,670 | $26,139 |
Stock Option [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 131,000 | 272,800 | 131,000 | 272,800 |
Stock Option [Member] | Minimum [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise price | $52.25 | $43.50 | $52.25 | $43.50 |
Stock Option [Member] | Maximum [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise price | $52.50 | $46.75 | $52.50 | $46.75 |
Convertible Preferred Stock [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share, amount | 3,479,719 | 4,099,692 | 3,751,800 | 4,076,150 |
Net_Income_Per_Share_Attributa6
Net Income Per Share Attributable to Cooper-Standard Holdings Inc - Preferred Shares (as if Converted) and Options (Parenthetical) (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Preferred stock dividend rate, percentage | 7.00% | 7.00% |
Redeemable_Preferred_Stock_Add
Redeemable Preferred Stock - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | 1 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | Oct. 18, 2013 | |
Subsequent Event [Member] | |||
Common Stock And Preferred Stock [Line Items] | ' | ' | ' |
Preferred stock dividend rate, percentage | 7.00% | 7.00% | ' |
Conversion of preferred stock | ' | ' | 810,382 |
Basis of conversion of preferred stock | ' | ' | '7% preferred stock will be converted at the rate of 4.34164 shares of the Company's common stock for each share of 7% preferred stock, or into an aggregate of 3,518,386 shares of common stock. |
Convertible preferred stock issued upon conversion | ' | ' | 4.34164 |
Conversion of shares issued | ' | ' | 3,518,386 |
Redeemable_Preferred_Stock_Rec
Redeemable Preferred Stock - Reconciliation of Company's 7% Preferred Stock Activity (Detail) (USD $) | 9 Months Ended |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 |
Statement Of Stockholders Equity [Abstract] | ' |
Beginning balance, Shares | 958,333 |
Beginning balance, Value | $121,649 |
Stock-based compensation, Shares | ' |
Stock-based compensation, Value | 745 |
Converted preferred stock, Shares | -142,590 |
Converted preferred stock, Value | -18,252 |
Repurchased preferred stock, shares | -4,363 |
Repurchased preferred stock, Value | -561 |
Forfeited, Shares | -998 |
Forfeited, Value | ' |
Ending balance, Shares | 810,382 |
Ending balance, Value | $103,581 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Management Incentive Plan And Omnibus Incentive Plan [Member] | Management Incentive Plan And Omnibus Incentive Plan [Member] | Management Incentive Plan And Omnibus Incentive Plan [Member] | Management Incentive Plan And Omnibus Incentive Plan [Member] | |||
Preferred Stock [Line Items] | ' | ' | ' | ' | ' | ' |
Total compensation expense recognized | ' | ' | $3,026 | $3,436 | $8,660 | $11,473 |
Preferred stock dividend rate, percentage | 7.00% | 7.00% | ' | ' | ' | ' |
Other_Income_Expense_Net_Detai
Other Income (Expense) , Net - Details of Components of Other Income Expense, Net (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income And Expenses [Abstract] | ' | ' | ' | ' |
Foreign currency gains (losses) | $813 | ($193) | ($6,351) | ($4,516) |
Unrealized gains (losses) related to forward contracts | 401 | 1,476 | -92 | 3,836 |
Loss on sale of receivables | -437 | -165 | -1,235 | -689 |
Miscellaneous income | 183 | ' | 2,293 | 920 |
Other income (expense), net | $960 | $1,118 | ($5,385) | ($449) |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Related Party Transaction Due From To Related Party [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Joint Venture | ' | ' | 20.00% | ' | 20.00% | 20.00% | 20.00% |
Dividend received | $4,000 | $800 | ' | ' | ' | ' | ' |
Receipt from NISCO related to earnings | ' | ' | ' | 1,880 | ' | ' | ' |
Receipt from NISCO related to return on Capital on investment made | ' | ' | ' | 2,120 | ' | 2,120 | ' |
Sales to related party | ' | ' | 11,694 | ' | 7,472 | 35,528 | 31,491 |
Total Purchases of materials | ' | ' | $672 | ' | $743 | $2,032 | $2,340 |
Corporate Joint Venture [Member] | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction Due From To Related Party [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Joint Venture | ' | ' | 40.00% | ' | 40.00% | 40.00% | 40.00% |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 3 Months Ended |
Sep. 30, 2013 | |
Segment | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' |
Number of reportable segments | 4 |
Scenario, Previously Reported [Member] | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' |
Number of reportable segments | 2 |
Number of geographic regions | 2 |
Business_Segments_Information_
Business Segments - Information on Company's Business Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Sales to external customers | $764,057 | $684,029 | $2,296,341 | $2,183,794 | ' |
Intersegment sales | ' | ' | ' | ' | ' |
Segment profit (loss) | 24,753 | 15,750 | 90,865 | 77,514 | ' |
Restructuring | 1,907 | 10,171 | 7,755 | 15,758 | ' |
Segment assets | 2,093,517 | ' | 2,093,517 | ' | 2,025,977 |
Reportable Geographical Components [Member] | North America [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Sales to external customers | 408,615 | 363,859 | 1,191,521 | 1,139,273 | ' |
Intersegment sales | 2,121 | 1,646 | 8,959 | 5,979 | ' |
Segment profit (loss) | 31,726 | 32,790 | 103,158 | 113,922 | ' |
Restructuring | 73 | 276 | 1,961 | 755 | ' |
Segment assets | 878,213 | ' | 878,213 | ' | 772,269 |
Reportable Geographical Components [Member] | Europe [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Sales to external customers | 258,028 | 227,556 | 806,182 | 780,780 | ' |
Intersegment sales | 2,440 | 2,107 | 6,837 | 6,489 | ' |
Segment profit (loss) | -7,500 | -19,319 | -14,784 | -33,442 | ' |
Restructuring | 1,517 | 9,802 | 5,476 | 14,715 | ' |
Segment assets | 613,907 | ' | 613,907 | ' | 593,340 |
Reportable Geographical Components [Member] | South America [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Sales to external customers | 43,069 | 39,208 | 138,746 | 107,282 | ' |
Intersegment sales | ' | 37 | ' | 159 | ' |
Segment profit (loss) | -1,838 | -1,028 | -5,760 | -6,413 | ' |
Restructuring | ' | ' | ' | ' | ' |
Segment assets | 161,792 | ' | 161,792 | ' | 145,257 |
Reportable Geographical Components [Member] | Asia Pacific [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Sales to external customers | 54,345 | 53,406 | 159,892 | 156,459 | ' |
Intersegment sales | 3,013 | 2,091 | 7,434 | 6,105 | ' |
Segment profit (loss) | 2,365 | 3,307 | 8,251 | 3,447 | ' |
Restructuring | 317 | 93 | 318 | 288 | ' |
Segment assets | 249,829 | ' | 249,829 | ' | 223,801 |
Eliminations and other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Intersegment sales | -7,574 | -5,881 | -23,230 | -18,732 | ' |
Segment assets | $189,776 | ' | $189,776 | ' | $291,310 |
Guarantor_and_NonGuarantor_Sub2
Guarantor and Non-Guarantor Subsidiaries - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | 27-May-10 |
Proforma Debt Instrument [Line Items] | ' | ' |
Senior notes stated percentage | 7.38% | ' |
Senior Notes [Member] | ' | ' |
Proforma Debt Instrument [Line Items] | ' | ' |
Senior Notes, principal amount | ' | $450,000 |
Senior notes stated percentage | 8.50% | ' |
Senior notes maturity | '2018 | ' |
Guarantor_and_NonGuarantor_Sub3
Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | $764,057 | $684,029 | $2,296,341 | $2,183,794 |
Cost of products sold | 649,028 | 580,956 | 1,928,735 | 1,844,616 |
Selling, administration, & engineering expenses | 72,968 | 65,421 | 220,807 | 206,432 |
Amortization of intangibles | 3,785 | 3,866 | 11,534 | 11,590 |
Restructuring | 1,907 | 10,171 | 7,755 | 15,758 |
Operating profit | 36,369 | 23,615 | 127,510 | 105,398 |
Interest expense, net of interest income | -15,171 | -11,325 | -39,953 | -33,326 |
Equity earnings | 2,595 | 2,342 | 8,693 | 5,891 |
Other income (expense), net | 960 | 1,118 | -5,385 | -449 |
Income (loss) before income taxes | 24,753 | 15,750 | 90,865 | 77,514 |
Income tax expense (benefit) | 4,467 | 5,392 | 24,560 | -32,772 |
Income (loss) before equity in income (loss) of subsidiaries | 20,300 | 10,400 | 66,300 | 110,300 |
Equity in net income of subsidiaries | ' | ' | ' | ' |
Net income | 20,286 | 10,358 | 66,305 | 110,286 |
Net (income) loss attributable to noncontrolling interests | 310 | 1,266 | 2,424 | 2,441 |
Net income attributable to Cooper-Standard Holdings Inc. | 20,596 | 11,624 | 68,729 | 112,727 |
Comprehensive income | 33,913 | 18,790 | 57,714 | 104,998 |
Add: comprehensive loss attributable to noncontrolling interests | 535 | 825 | 2,365 | 2,758 |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | 34,448 | 19,615 | 60,079 | 107,756 |
Parent [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | ' | ' | ' | ' |
Cost of products sold | ' | ' | ' | ' |
Selling, administration, & engineering expenses | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' |
Restructuring | ' | ' | ' | ' |
Operating profit | ' | ' | ' | ' |
Interest expense, net of interest income | -4,000 | ' | -7,600 | ' |
Equity earnings | ' | ' | ' | ' |
Other income (expense), net | ' | ' | ' | ' |
Income (loss) before income taxes | -4,000 | ' | -7,600 | ' |
Income tax expense (benefit) | -2,000 | ' | -2,000 | ' |
Income (loss) before equity in income (loss) of subsidiaries | -2,000 | ' | -5,600 | ' |
Equity in net income of subsidiaries | 22,600 | 11,600 | 74,300 | 112,700 |
Net income | 20,600 | 11,600 | 68,700 | 112,700 |
Net (income) loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net income attributable to Cooper-Standard Holdings Inc. | 20,600 | 11,600 | 68,700 | 112,700 |
Comprehensive income | 34,500 | 19,600 | 60,100 | 107,800 |
Add: comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | 34,500 | 19,600 | 60,100 | 107,800 |
Issuer [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | 145,500 | 135,100 | 437,700 | 429,700 |
Cost of products sold | 126,100 | 113,000 | 368,500 | 356,500 |
Selling, administration, & engineering expenses | 33,700 | 30,800 | 99,100 | 96,200 |
Amortization of intangibles | 2,900 | 2,800 | 8,600 | 8,500 |
Restructuring | ' | 100 | 1,700 | 300 |
Operating profit | -17,200 | -11,600 | -40,200 | -31,800 |
Interest expense, net of interest income | -7,400 | -8,300 | -23,500 | -24,900 |
Equity earnings | 600 | 1,000 | 2,500 | 500 |
Other income (expense), net | 4,800 | 8,700 | 18,300 | 26,600 |
Income (loss) before income taxes | -19,200 | -10,200 | -42,900 | -29,600 |
Income tax expense (benefit) | -3,300 | 300 | -11,300 | 18,400 |
Income (loss) before equity in income (loss) of subsidiaries | -15,900 | -10,500 | -31,600 | -48,000 |
Equity in net income of subsidiaries | 38,500 | 22,100 | 105,900 | 160,700 |
Net income | 22,600 | 11,600 | 74,300 | 112,700 |
Net (income) loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net income attributable to Cooper-Standard Holdings Inc. | 22,600 | 11,600 | 74,300 | 112,700 |
Comprehensive income | 38,400 | 19,600 | 67,600 | 107,800 |
Add: comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | 38,400 | 19,600 | 67,600 | 107,800 |
Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | 167,800 | 150,700 | 505,500 | 475,500 |
Cost of products sold | 135,400 | 129,100 | 402,800 | 401,900 |
Selling, administration, & engineering expenses | -100 | ' | 2,700 | 900 |
Amortization of intangibles | ' | ' | ' | ' |
Restructuring | ' | 200 | 200 | 300 |
Operating profit | 32,500 | 21,400 | 99,800 | 72,400 |
Interest expense, net of interest income | ' | ' | ' | ' |
Equity earnings | 1,000 | 500 | 3,200 | 2,700 |
Other income (expense), net | 100 | -100 | 300 | 1,000 |
Income (loss) before income taxes | 33,600 | 21,800 | 103,300 | 76,100 |
Income tax expense (benefit) | 7,700 | 4,600 | 27,200 | -48,500 |
Income (loss) before equity in income (loss) of subsidiaries | 25,900 | 17,200 | 76,100 | 124,600 |
Equity in net income of subsidiaries | ' | ' | ' | ' |
Net income | 25,900 | 17,200 | 76,100 | 124,600 |
Net (income) loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net income attributable to Cooper-Standard Holdings Inc. | 25,900 | 17,200 | 76,100 | 124,600 |
Comprehensive income | 25,900 | 17,200 | 76,100 | 124,600 |
Add: comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | 25,900 | 17,200 | 76,100 | 124,600 |
Non-Guarantors [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | 499,800 | 441,400 | 1,501,500 | 1,420,200 |
Cost of products sold | 436,600 | 382,000 | 1,305,800 | 1,227,800 |
Selling, administration, & engineering expenses | 39,400 | 34,600 | 119,000 | 109,300 |
Amortization of intangibles | 900 | 1,100 | 2,900 | 3,100 |
Restructuring | 1,900 | 9,900 | 5,800 | 15,200 |
Operating profit | 21,000 | 13,800 | 68,000 | 64,800 |
Interest expense, net of interest income | -3,700 | -3,000 | -8,900 | -8,400 |
Equity earnings | 1,100 | 900 | 3,000 | 2,700 |
Other income (expense), net | -4,000 | -7,500 | -24,000 | -28,100 |
Income (loss) before income taxes | 14,400 | 4,200 | 38,100 | 31,000 |
Income tax expense (benefit) | 2,100 | 500 | 10,700 | -2,700 |
Income (loss) before equity in income (loss) of subsidiaries | 12,300 | 3,700 | 27,400 | 33,700 |
Equity in net income of subsidiaries | ' | ' | ' | ' |
Net income | 12,300 | 3,700 | 27,400 | 33,700 |
Net (income) loss attributable to noncontrolling interests | 300 | 1,200 | 2,400 | 2,400 |
Net income attributable to Cooper-Standard Holdings Inc. | 12,600 | 4,900 | 29,800 | 36,100 |
Comprehensive income | 21,900 | 11,500 | 16,100 | 29,000 |
Add: comprehensive loss attributable to noncontrolling interests | 600 | 800 | 2,400 | 2,800 |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | 22,500 | 12,300 | 18,500 | 31,800 |
Eliminations [Member] | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Sales | -49,100 | -43,200 | -148,400 | -141,600 |
Cost of products sold | -49,100 | -43,200 | -148,400 | -141,600 |
Selling, administration, & engineering expenses | ' | ' | ' | ' |
Amortization of intangibles | ' | ' | ' | ' |
Restructuring | ' | ' | ' | ' |
Operating profit | ' | ' | ' | ' |
Interest expense, net of interest income | ' | ' | ' | ' |
Equity earnings | ' | ' | ' | ' |
Other income (expense), net | ' | ' | ' | ' |
Income (loss) before income taxes | ' | ' | ' | ' |
Income tax expense (benefit) | ' | ' | ' | ' |
Income (loss) before equity in income (loss) of subsidiaries | ' | ' | ' | ' |
Equity in net income of subsidiaries | -61,100 | -33,700 | -180,200 | -273,400 |
Net income | -61,100 | -33,700 | -180,200 | -273,400 |
Net (income) loss attributable to noncontrolling interests | ' | ' | ' | ' |
Net income attributable to Cooper-Standard Holdings Inc. | -61,100 | -33,700 | -180,200 | -273,400 |
Comprehensive income | -86,800 | -49,100 | -162,200 | -264,200 |
Add: comprehensive loss attributable to noncontrolling interests | ' | ' | ' | ' |
Comprehensive income attributable to Cooper-Standard Holdings Inc. | ($86,800) | ($49,100) | ($162,200) | ($264,200) |
Guarantor_and_NonGuarantor_Sub4
Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jan. 01, 2012 |
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $119,232 | $270,555 | $217,838 | $361,745 |
Accounts receivable, net | 429,658 | 350,013 | ' | ' |
Tooling receivable | 149,906 | 116,947 | ' | ' |
Inventories | 186,758 | 143,253 | ' | ' |
Prepaid expenses | 32,505 | 21,902 | ' | ' |
Other | 93,909 | 87,802 | ' | ' |
Total current assets | 1,011,968 | 990,472 | ' | ' |
Investments in affiliates and intercompany accounts, net | 63,800 | 62,200 | ' | ' |
Property, plant, and equipment, net | 700,922 | 628,608 | ' | ' |
Goodwill | 133,993 | 133,716 | ' | ' |
Other assets | 90,717 | 83,739 | ' | ' |
Total assets | 2,093,517 | 2,025,977 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Debt payable within one year | 30,264 | 32,556 | ' | ' |
Accounts payable | 298,763 | 271,355 | ' | ' |
Accrued liabilities | 93,543 | 80,148 | ' | ' |
Total current liabilities | 538,413 | 486,916 | ' | ' |
Long-term debt | 648,968 | 450,809 | ' | ' |
Other liabilities | 35,119 | 42,131 | ' | ' |
Total liabilities | 1,480,889 | 1,260,903 | ' | ' |
Redeemable noncontrolling interests | 12,511 | 14,194 | ' | ' |
Preferred stock | 103,581 | 121,649 | ' | ' |
Total Cooper-Standard Holdings Inc. equity | 496,683 | 628,326 | ' | ' |
Noncontrolling interests | -147 | 905 | ' | ' |
Total equity | 496,536 | 629,231 | ' | ' |
Total liabilities and equity | 2,093,517 | 2,025,977 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 20,400 | ' | ' | ' |
Total current assets | 20,400 | ' | ' | ' |
Investments in affiliates and intercompany accounts, net | 678,500 | 628,300 | ' | ' |
Other assets | 1,400 | ' | ' | ' |
Total assets | 700,300 | 628,300 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accrued liabilities | 7,300 | ' | ' | ' |
Total current liabilities | 7,300 | ' | ' | ' |
Long-term debt | 196,300 | ' | ' | ' |
Total liabilities | 203,600 | ' | ' | ' |
Total Cooper-Standard Holdings Inc. equity | 496,700 | 628,300 | ' | ' |
Total equity | 496,700 | 628,300 | ' | ' |
Total liabilities and equity | 700,300 | 628,300 | ' | ' |
Issuer [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 67,700 | 177,500 | 126,700 | 189,600 |
Accounts receivable, net | 73,100 | 54,800 | ' | ' |
Tooling receivable | 21,800 | 13,400 | ' | ' |
Inventories | 22,000 | 18,800 | ' | ' |
Prepaid expenses | 6,000 | 5,900 | ' | ' |
Other | 35,200 | 35,500 | ' | ' |
Total current assets | 225,800 | 305,900 | ' | ' |
Investments in affiliates and intercompany accounts, net | 295,600 | 339,700 | ' | ' |
Property, plant, and equipment, net | 95,100 | 88,200 | ' | ' |
Goodwill | 111,100 | 111,100 | ' | ' |
Other assets | 111,200 | 80,900 | ' | ' |
Total assets | 838,800 | 925,800 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 47,700 | 45,400 | ' | ' |
Accrued liabilities | 58,100 | 59,100 | ' | ' |
Total current liabilities | 105,800 | 104,500 | ' | ' |
Long-term debt | 450,000 | 450,000 | ' | ' |
Other liabilities | 141,200 | 167,400 | ' | ' |
Total liabilities | 697,000 | 721,900 | ' | ' |
Preferred stock | 103,600 | 121,600 | ' | ' |
Total Cooper-Standard Holdings Inc. equity | 38,200 | 82,300 | ' | ' |
Total equity | 38,200 | 82,300 | ' | ' |
Total liabilities and equity | 838,800 | 925,800 | ' | ' |
Guarantors [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | 4,400 | ' | ' |
Accounts receivable, net | 86,400 | 72,600 | ' | ' |
Tooling receivable | 14,100 | 12,100 | ' | ' |
Inventories | 33,100 | 28,500 | ' | ' |
Prepaid expenses | 400 | 300 | ' | ' |
Other | 400 | 600 | ' | ' |
Total current assets | 134,400 | 118,500 | ' | ' |
Investments in affiliates and intercompany accounts, net | 1,112,900 | 998,700 | ' | ' |
Property, plant, and equipment, net | 58,000 | 56,500 | ' | ' |
Other assets | 100 | 48,200 | ' | ' |
Total assets | 1,305,400 | 1,221,900 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 48,600 | 41,300 | ' | ' |
Accrued liabilities | 5,300 | 5,400 | ' | ' |
Total current liabilities | 53,900 | 46,700 | ' | ' |
Other liabilities | -100 | -200 | ' | ' |
Total liabilities | 53,800 | 46,500 | ' | ' |
Total Cooper-Standard Holdings Inc. equity | 1,251,600 | 1,175,400 | ' | ' |
Total equity | 1,251,600 | 1,175,400 | ' | ' |
Total liabilities and equity | 1,305,400 | 1,221,900 | ' | ' |
Non-Guarantors [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 31,100 | 88,700 | 91,100 | 172,100 |
Accounts receivable, net | 270,200 | 222,700 | ' | ' |
Tooling receivable | 114,000 | 91,400 | ' | ' |
Inventories | 131,700 | 96,000 | ' | ' |
Prepaid expenses | 26,100 | 15,700 | ' | ' |
Other | 58,300 | 51,700 | ' | ' |
Total current assets | 631,400 | 566,200 | ' | ' |
Investments in affiliates and intercompany accounts, net | -111,000 | -52,900 | ' | ' |
Property, plant, and equipment, net | 547,800 | 483,900 | ' | ' |
Goodwill | 22,900 | 22,600 | ' | ' |
Other assets | 70,100 | 81,800 | ' | ' |
Total assets | 1,161,200 | 1,101,600 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Debt payable within one year | 30,300 | 32,600 | ' | ' |
Accounts payable | 202,500 | 184,700 | ' | ' |
Accrued liabilities | 138,600 | 118,500 | ' | ' |
Total current liabilities | 371,400 | 335,800 | ' | ' |
Long-term debt | 2,700 | 800 | ' | ' |
Other liabilities | 152,300 | 156,000 | ' | ' |
Total liabilities | 526,400 | 492,600 | ' | ' |
Redeemable noncontrolling interests | 12,500 | 14,200 | ' | ' |
Total Cooper-Standard Holdings Inc. equity | 622,400 | 593,900 | ' | ' |
Noncontrolling interests | -100 | 900 | ' | ' |
Total equity | 622,300 | 594,800 | ' | ' |
Total liabilities and equity | 1,161,200 | 1,101,600 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' |
Investments in affiliates and intercompany accounts, net | -1,912,200 | -1,851,600 | ' | ' |
Total assets | -1,912,200 | -1,851,600 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Total Cooper-Standard Holdings Inc. equity | -1,912,200 | -1,851,600 | ' | ' |
Total equity | -1,912,200 | -1,851,600 | ' | ' |
Total liabilities and equity | ($1,912,200) | ($1,851,600) | ' | ' |
Guarantor_and_NonGuarantor_Sub5
Guarantor and Non-Guarantor Subsidiaries - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | $17,573 | ($22,518) |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | -132,794 | -91,537 |
Acquisition of businesses, net of cash acquired | -13,504 | -1,084 |
Return on equity investments | 2,120 | ' |
Proceeds from the sale of fixed assets and other | 3,584 | 8,997 |
Net cash used in investing activities | -140,594 | -83,624 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | 194,357 | ' |
Decrease in short-term debt | 1,648 | -2,833 |
Principal payments on long-term debt | -3,825 | -4,310 |
Purchase of noncontrolling interest | -1,911 | ' |
Repurchase of preferred and common stock | ' | -25,500 |
Repurchase of common stock | -217,549 | -20,636 |
Proceeds from exercise of warrants | 11,252 | ' |
Other | -5,302 | 520 |
Net cash used in financing activities | -26,077 | -37,264 |
Effects of exchange rate changes on cash and cash equivalents | -2,225 | -501 |
Changes in cash and cash equivalents | -151,323 | -143,907 |
Cash and cash equivalents at beginning of period | 270,555 | 361,745 |
Cash and cash equivalents at end of period | 119,232 | 217,838 |
Depreciation and amortization | 83,300 | 91,200 |
Parent [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | 5,200 | 5,100 |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | ' | ' |
Acquisition of businesses, net of cash acquired | ' | ' |
Return on equity investments | ' | ' |
Proceeds from the sale of fixed assets and other | ' | ' |
Net cash used in investing activities | ' | ' |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | 194,400 | ' |
Decrease in short-term debt | ' | ' |
Principal payments on long-term debt | ' | ' |
Purchase of noncontrolling interest | ' | ' |
Repurchase of preferred and common stock | ' | ' |
Repurchase of common stock | -174,400 | ' |
Proceeds from exercise of warrants | ' | ' |
Other | -4,800 | -5,100 |
Net cash used in financing activities | 15,200 | -5,100 |
Effects of exchange rate changes on cash and cash equivalents | ' | ' |
Changes in cash and cash equivalents | 20,400 | ' |
Cash and cash equivalents at beginning of period | ' | ' |
Cash and cash equivalents at end of period | 20,400 | ' |
Depreciation and amortization | ' | ' |
Issuer [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | -11,400 | -7,600 |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | -20,000 | -19,900 |
Acquisition of businesses, net of cash acquired | 4,000 | ' |
Return on equity investments | ' | ' |
Proceeds from the sale of fixed assets and other | ' | ' |
Net cash used in investing activities | -16,000 | -19,900 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | ' | ' |
Decrease in short-term debt | ' | ' |
Principal payments on long-term debt | ' | ' |
Purchase of noncontrolling interest | ' | ' |
Repurchase of preferred and common stock | ' | -25,500 |
Repurchase of common stock | -43,100 | ' |
Proceeds from exercise of warrants | 11,300 | ' |
Other | -50,600 | -9,900 |
Net cash used in financing activities | -82,400 | -35,400 |
Effects of exchange rate changes on cash and cash equivalents | ' | ' |
Changes in cash and cash equivalents | -109,800 | -62,900 |
Cash and cash equivalents at beginning of period | 177,500 | 189,600 |
Cash and cash equivalents at end of period | 67,700 | 126,700 |
Depreciation and amortization | 21,200 | 21,300 |
Guarantors [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | 7,100 | 8,000 |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | -13,600 | -12,100 |
Acquisition of businesses, net of cash acquired | ' | ' |
Return on equity investments | 2,100 | ' |
Proceeds from the sale of fixed assets and other | ' | 4,100 |
Net cash used in investing activities | -11,500 | -8,000 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | ' | ' |
Decrease in short-term debt | ' | ' |
Principal payments on long-term debt | ' | ' |
Purchase of noncontrolling interest | ' | ' |
Repurchase of preferred and common stock | ' | ' |
Repurchase of common stock | ' | ' |
Proceeds from exercise of warrants | ' | ' |
Other | ' | ' |
Net cash used in financing activities | ' | ' |
Effects of exchange rate changes on cash and cash equivalents | ' | ' |
Changes in cash and cash equivalents | -4,400 | ' |
Cash and cash equivalents at beginning of period | 4,400 | ' |
Cash and cash equivalents at end of period | ' | ' |
Depreciation and amortization | 9,300 | 11,000 |
Non-Guarantors [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | 16,600 | -28,000 |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | -99,200 | -59,500 |
Acquisition of businesses, net of cash acquired | -17,500 | -1,100 |
Return on equity investments | ' | ' |
Proceeds from the sale of fixed assets and other | 3,600 | 4,900 |
Net cash used in investing activities | -113,100 | -55,700 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | ' | ' |
Decrease in short-term debt | 1,600 | -2,800 |
Principal payments on long-term debt | -3,800 | -4,300 |
Purchase of noncontrolling interest | -1,900 | ' |
Repurchase of preferred and common stock | ' | ' |
Repurchase of common stock | ' | ' |
Proceeds from exercise of warrants | ' | ' |
Other | 45,200 | 10,300 |
Net cash used in financing activities | 41,100 | 3,200 |
Effects of exchange rate changes on cash and cash equivalents | -2,200 | -500 |
Changes in cash and cash equivalents | -57,600 | -81,000 |
Cash and cash equivalents at beginning of period | 88,700 | 172,100 |
Cash and cash equivalents at end of period | 31,100 | 91,100 |
Depreciation and amortization | 52,800 | 58,900 |
Eliminations [Member] | ' | ' |
OPERATING ACTIVITIES | ' | ' |
Net cash provided by (used in) operating activities | ' | ' |
INVESTING ACTIVITIES | ' | ' |
Capital expenditures, including other intangible assets | ' | ' |
Acquisition of businesses, net of cash acquired | ' | ' |
Return on equity investments | ' | ' |
Proceeds from the sale of fixed assets and other | ' | ' |
Net cash used in investing activities | ' | ' |
FINANCING ACTIVITIES | ' | ' |
Proceeds from issuance of senior PIK toggle notes, net of debt issuance costs | ' | ' |
Decrease in short-term debt | ' | ' |
Principal payments on long-term debt | ' | ' |
Purchase of noncontrolling interest | ' | ' |
Repurchase of preferred and common stock | ' | ' |
Repurchase of common stock | ' | ' |
Proceeds from exercise of warrants | ' | ' |
Other | ' | ' |
Net cash used in financing activities | ' | ' |
Effects of exchange rate changes on cash and cash equivalents | ' | ' |
Changes in cash and cash equivalents | ' | ' |
Cash and cash equivalents at beginning of period | ' | ' |
Cash and cash equivalents at end of period | ' | ' |
Depreciation and amortization | ' | ' |
Financial_Instruments_Addition
Financial Instruments - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Senior unsecured notes principal amount | $450,000 | ' | $450,000 | ' | $450,000 |
Senior PIK Toggle notes principal amount | 196,281 | ' | 196,281 | ' | ' |
Fair value of the redeemable preferred stock | 188,253 | ' | 188,253 | ' | 169,193 |
Preferred stock | 103,581 | ' | 103,581 | ' | 121,649 |
Preferred stock dividend rate, percentage | ' | ' | 7.00% | ' | 7.00% |
Ownership Percentage by company | 51.00% | ' | 51.00% | ' | ' |
Percentage of ownership Right of Non controlling to purchase by company | 49.00% | ' | 49.00% | ' | ' |
Amount of accretion | ' | ' | 656 | ' | ' |
Estimated redemption value of put option | 10,290 | ' | 10,290 | ' | ' |
Notional amount of foreign currency cash flow | 11,161 | ' | 11,161 | ' | ' |
Fair value of contracts recorded in asset position in other current assets | 93,909 | ' | 93,909 | ' | 87,802 |
Liability position recorded in accrued liabilities | 93,543 | ' | 93,543 | ' | 80,148 |
Undesignated derivative forward contracts | 134 | ' | 134 | ' | ' |
Unrealized gains (loss) related to forward contracts | 401 | 1,476 | -92 | 3,836 | ' |
Maturity date of foreign currency derivative contracts | ' | ' | 30-Apr-14 | ' | ' |
Foreign Exchange Forward [Member] | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Fair value of contracts recorded in asset position in other current assets | 10 | ' | 10 | ' | ' |
Liability position recorded in accrued liabilities | 112 | ' | 112 | ' | ' |
Amount reclassified from AOCI into cost of products sold | -68 | ' | -181 | ' | ' |
Transaction period of Forward foreign exchange contracts | ' | ' | '2013-12 | ' | ' |
Foreign Exchange Forward [Member] | Foreign Exchange Contract [Member] | Cash Flow Hedging [Member] | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Notional amount of foreign currency cash flow | 10,247 | ' | 10,247 | ' | ' |
Interest Rate Swap [Member] | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Interest expense for interest rate swap | 21 | 24 | -209 | 77 | ' |
Swap contract maturity date | ' | ' | 30-Sep-13 | ' | ' |
Senior Notes [Member] | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Fair values of the Senior Notes | 480,938 | ' | 480,938 | ' | 480,938 |
Senior PIK Toggle Notes [Member] | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' | ' |
Fair values of the Senior Notes | 199,471 | ' | 199,471 | ' | ' |
Senior PIK Toggle notes principal amount | $196,281 | ' | $196,281 | ' | ' |
Financial_Instruments_Fair_Val
Financial Instruments - Fair Value Hierarchy Level for Company's Liabilities Measured (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Asset (Liability) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Interest rate swap | ' | ($68) |
Forward foreign exchange contracts | -236 | -29 |
Total | -236 | -97 |
Level 1 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Interest rate swap | ' | ' |
Forward foreign exchange contracts | ' | ' |
Total | ' | ' |
Level 2 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Interest rate swap | ' | -68 |
Forward foreign exchange contracts | -236 | -29 |
Total | -236 | -97 |
Level 3 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis [Line Items] | ' | ' |
Interest rate swap | ' | ' |
Forward foreign exchange contracts | ' | ' |
Total | ' | ' |
Accounts_Receivable_Factoring_
Accounts Receivable Factoring - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Receivables [Abstract] | ' | ' | ' | ' |
Amount outstanding under accounts receivable transfer agreements without recourse | $95,642 | $68,564 | $95,642 | $68,564 |
Total amount of accounts receivable without recourse | ' | ' | 347,473 | 256,033 |
Costs incurred on sale of receivables | 720 | 421 | 2,049 | 1,722 |
Amount outstanding under accounts receivable transfer agreements with recourse | 13,727 | 11,296 | 13,727 | 11,296 |
Secured debt maturity period | ' | ' | '1 year | ' |
Total amount of accounts receivable with recourse | ' | ' | 69,809 | 61,631 |
Costs incurred on sale of receivables | $106 | $68 | $327 | $275 |