Financial Information for Guarantors and Non-Guarantors | 9 Months Ended |
Sep. 30, 2013 |
Guarantees [Abstract] | ' |
Financial Information for Guarantors and Non-Guarantors | ' |
Note 19. Financial Information for Guarantors and Non-Guarantors |
|
Affinia Group Intermediate Holdings Inc. (presented as “Parent” in the following schedules), through its 100% owned subsidiary, Affinia Group Inc. (presented as Issuer in the following schedules), issued $250 million of Senior Notes on April 25, 2013. As of September 30, 2013, there were $250 million of Senior Notes outstanding. The notes were offered only to qualified institutional buyers and certain persons in offshore transactions |
|
The Senior Notes are fully, irrevocably, unconditionally and jointly and severally guaranteed on a senior unsecured basis. The Senior Notes are general obligations of the Issuer and guaranteed by the Parent and the Guarantors. |
|
The following unaudited information presents Condensed Consolidating Statements of Operations for the three and nine months ended September 30, 2012 and 2013, Condensed Consolidating Statements of Comprehensive Loss for the three and nine months ended September 30, 2012 and 2013, Condensed Consolidating Balance Sheets as of December 31, 2012 and September 30, 2013 and Condensed Consolidating Statements of Cash Flows for the nine months ended September 30, 2012 and 2013 of (1) the Parent, (2) the Issuer, (3) the Guarantors, (4) the Non-Guarantors, and (5) eliminations to arrive at the information for the Company on a consolidated basis. |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Three Months Ended September 30, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net sales | | $ | — | | | $ | — | | | $ | 202 | | | $ | 286 | | | $ | (113 | ) | | $ | 375 | |
Cost of sales | | | — | | | | — | | | | (159 | ) | | | (241 | ) | | | 113 | | | | (287 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 43 | | | | 45 | | | | — | | | | 88 | |
Selling, general and administrative expenses | | | — | | | | (13 | ) | | | (16 | ) | | | (21 | ) | | | — | | | | (50 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (13 | ) | | | 27 | | | | 24 | | | | — | | | | 38 | |
Other income (loss), net | | | — | | | | — | | | | (1 | ) | | | 3 | | | | — | | | | 2 | |
Interest expense | | | — | | | | (15 | ) | | | — | | | | (1 | ) | | | — | | | | (16 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations before income tax provision, net of tax, equity in income, net of tax and noncontrolling interest | | | — | | | | (28 | ) | | | 26 | | | | 26 | | | | — | | | | 24 | |
Income tax provision | | | — | | | | (2 | ) | | | — | | | | (8 | ) | | | — | | | | (10 | ) |
Equity in income, net of tax | | | 4 | | | | 34 | | | | 12 | | | | 1 | | | | (50 | ) | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income from continuing operations | | | 4 | | | | 4 | | | | 38 | | | | 19 | | | | (50 | ) | | | 15 | |
Loss from discontinued operations, net of tax | | | — | | | | — | | | | (3 | ) | | | (7 | ) | | | — | | | | (10 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 4 | | | | 4 | | | | 35 | | | | 12 | | | | (50 | ) | | | 5 | |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | 1 | | | | — | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to the Company | | $ | 4 | | | $ | 4 | | | $ | 34 | | | $ | 12 | | | $ | (50 | ) | | $ | 4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Guarantor Condensed |
|
Consolidating Statement of Comprehensive Loss |
|
For the Three Months Ended September 30, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net income | | $ | 4 | | | $ | 4 | | | $ | 35 | | | $ | 12 | | | $ | (50 | ) | | $ | 5 | |
Other comprehensive income, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Change in foreign currency translation adjustments | | | 11 | | | | 11 | | | | — | | | | 11 | | | | (22 | ) | | | 11 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive income | | | 11 | | | | 11 | | | | — | | | | 11 | | | | (22 | ) | | | 11 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive income | | | 15 | | | | 15 | | | | 35 | | | | 23 | | | | (72 | ) | | | 16 | |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | 1 | | | | — | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to the Company | | $ | 15 | | | $ | 15 | | | $ | 34 | | | $ | 23 | | | $ | (72 | ) | | $ | 15 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Nine Months Ended September 30, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net sales | | $ | — | | | $ | — | | | $ | 611 | | | $ | 784 | | | $ | (283 | ) | | $ | 1,112 | |
Cost of sales | | | — | | | | — | | | | (495 | ) | | | (646 | ) | | | 283 | | | | (858 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 116 | | | | 138 | | | | — | | | | 254 | |
Selling, general and administrative expenses | | | — | | | | (35 | ) | | | (51 | ) | | | (62 | ) | | | — | | | | (148 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (35 | ) | | | 65 | | | | 76 | | | | — | | | | 106 | |
Loss on extinguishment of debt | | | — | | | | (1 | ) | | | — | | | | — | | | | — | | | | (1 | ) |
Other income (loss), net | | | — | | | | 1 | | | | (4 | ) | | | 5 | | | | — | | | | 2 | |
Interest expense | | | — | | | | (47 | ) | | | — | | | | (1 | ) | | | — | | | | (48 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations before income tax provision, equity in income (loss), net of tax and noncontrolling interest | | | — | | | | (82 | ) | | | 61 | | | | 80 | | | | — | | | | 59 | |
Income tax provision | | | — | | | | (4 | ) | | | — | | | | (20 | ) | | | — | | | | (24 | ) |
Equity in income (loss), net of tax | | | (22 | ) | | | 64 | | | | 18 | | | | 1 | | | | (60 | ) | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) from continuing operations | | | (22 | ) | | | (22 | ) | | | 79 | | | | 61 | | | | (60 | ) | | | 36 | |
Loss from discontinued operations, net of tax | | | — | | | | — | | | | (14 | ) | | | (43 | ) | | | — | | | | (57 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | (22 | ) | | | (22 | ) | | | 65 | | | | 18 | | | | (60 | ) | | | (21 | ) |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | 1 | | | | — | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to the Company | | $ | (22 | ) | | $ | (22 | ) | | $ | 64 | | | $ | 18 | | | $ | (60 | ) | | $ | (22 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Guarantor Condensed |
|
Consolidating Statement of Comprehensive Income |
|
For the Nine Months Ended September 30, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net income (loss) | | $ | (22 | ) | | $ | (22 | ) | | $ | 65 | | | $ | 18 | | | $ | (60 | ) | | $ | (21 | ) |
Other comprehensive income, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Change in foreign currency translation adjustments | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive income | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive income (loss) | | | (22 | ) | | | (22 | ) | | | 65 | | | | 18 | | | | (60 | ) | | | (21 | ) |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | 1 | | | | — | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to the Company | | $ | (22 | ) | | $ | (22 | ) | | $ | 64 | | | $ | 18 | | | $ | (60 | ) | | $ | (22 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Three Months Ended September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net sales | | $ | — | | | $ | — | | | $ | 204 | | | $ | 241 | | | $ | (44 | ) | | $ | 401 | |
Cost of sales | | | — | | | | — | | | | (166 | ) | | | (186 | ) | | | 44 | | | | (308 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 38 | | | | 55 | | | | — | | | | 93 | |
Selling, general and administrative expenses | | | — | | | | (16 | ) | | | (17 | ) | | | (24 | ) | | | — | | | | (57 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (16 | ) | | | 21 | | | | 31 | | | | — | | | | 36 | |
Other loss, net | | | — | | | | (1 | ) | | | — | | | | — | | | | — | | | | (1 | ) |
Interest expense | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations before income tax provision, equity in income (loss), net of tax and noncontrolling interest | | | — | | | | (32 | ) | | | 21 | | | | 31 | | | | — | | | | 20 | |
Income tax provision | | | — | | | | (2 | ) | | | (2 | ) | | | (5 | ) | | | — | | | | (9 | ) |
Equity in income (loss), net of tax | | | 9 | | | | 43 | | | | 24 | | | | (2 | ) | | | (76 | ) | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income from continuing operations | | | 9 | | | | 9 | | | | 43 | | | | 24 | | | | (76 | ) | | | 9 | |
Loss from discontinued operations, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 9 | | | | 9 | | | | 43 | | | | 24 | | | | (76 | ) | | | 9 | |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to the Company | | $ | 9 | | | $ | 9 | | | $ | 43 | | | $ | 24 | | | $ | (76 | ) | | $ | 9 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Guarantor Condensed |
|
Consolidating Statement of Comprehensive Income |
|
For the Three Months Ended September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net income | | $ | 9 | | | $ | 9 | | | $ | 43 | | | $ | 24 | | | $ | (76 | ) | | $ | 9 | |
Other comprehensive income (loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest rate swap, net of tax | | | (1 | ) | | | (1 | ) | | | — | | | | — | | | | 1 | | | | (1 | ) |
Change in foreign currency translation adjustments | | | 2 | | | | 2 | | | | — | | | | 2 | | | | (4 | ) | | | 2 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive income | | | 1 | | | | 1 | | | | — | | | | 2 | | | | (3 | ) | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive income | | | 10 | | | | 10 | | | | 43 | | | | 26 | | | | (79 | ) | | | 10 | |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to the Company | | $ | 10 | | | $ | 10 | | | $ | 43 | | | $ | 26 | | | $ | (79 | ) | | $ | 10 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Nine Months Ended September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net sales | | $ | — | | | $ | — | | | $ | 617 | | | $ | 672 | | | $ | (119 | ) | | $ | 1,170 | |
Cost of sales | | | — | | | | — | | | | (495 | ) | | | (524 | ) | | | 119 | | | | (900 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 122 | | | | 148 | | | | — | | | | 270 | |
Selling, general and administrative expenses | | | — | | | | (28 | ) | | | (65 | ) | | | (68 | ) | | | — | | | | (161 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating profit (loss) | | | — | | | | (28 | ) | | | 57 | | | | 80 | | | | — | | | | 109 | |
Loss on extinguishment of debt | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
Other loss, net | | | — | | | | (1 | ) | | | (1 | ) | | | (1 | ) | | | — | | | | (3 | ) |
Interest expense | | | — | | | | (57 | ) | | | — | | | | (1 | ) | | | — | | | | (58 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Income (loss) from continuing operations before income tax provision, equity in income (loss), net of tax and noncontrolling interest | | | — | | | | (101 | ) | | | 56 | | | | 78 | | | | — | | | | 33 | |
Income tax provision | | | — | | | | — | | | | — | | | | (16 | ) | | | — | | | | (16 | ) |
Equity in income (loss), net of tax | | | 14 | | | | 115 | | | | 44 | | | | (2 | ) | | | (173 | ) | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income from continuing operations | | | 14 | | | | 14 | | | | 100 | | | | 60 | | | | (173 | ) | | | 15 | |
Income (loss) from discontinued operations, net of tax | | | — | | | | — | | | | 15 | | | | (16 | ) | | | — | | | | (1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income | | | 14 | | | | 14 | | | | 115 | | | | 44 | | | | (173 | ) | | | 14 | |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income attributable to the Company | | $ | 14 | | | $ | 14 | | | $ | 115 | | | $ | 44 | | | $ | (173 | ) | | $ | 14 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Guarantor Condensed |
|
Consolidating Statement of Comprehensive Income |
|
For the Nine Months Ended September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Net income | | $ | 14 | | | $ | 14 | | | $ | 115 | | | $ | 44 | | | $ | (173 | ) | | $ | 14 | |
Other comprehensive income (loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest rate swap, net of tax | | | 5 | | | | 5 | | | | — | | | | — | | | | (5 | ) | | | 5 | |
Change in foreign currency translation adjustments | | | (15 | ) | | | (15 | ) | | | — | | | | (15 | ) | | | 30 | | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive loss | | | (10 | ) | | | (10 | ) | | | — | | | | (15 | ) | | | 25 | | | | (10 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive income | | | 4 | | | | 4 | | | | 115 | | | | 29 | | | | (148 | ) | | | 4 | |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income attributable to the Company | | $ | 4 | | | $ | 4 | | | $ | 115 | | | $ | 29 | | | $ | (148 | ) | | $ | 4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Balance Sheet |
|
December 31, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 23 | | | $ | — | | | $ | 28 | | | $ | — | | | $ | 51 | |
Accounts receivable | | | — | | | | 2 | | | | 39 | | | | 122 | | | | — | | | | 163 | |
Inventories | | | — | | | | — | | | | 172 | | | | 132 | | | | — | | | | 304 | |
Other current assets | | | — | | | | 15 | | | | 9 | | | | 41 | | | | — | | | | 65 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 40 | | | | 220 | | | | 323 | | | | — | | | | 583 | |
Investments and other assets | | | — | | | | 197 | | | | 41 | | | | 20 | | | | — | | | | 258 | |
Intercompany investments | | | 150 | | | | 724 | | | | 652 | | | | — | | | | (1,526 | ) | | | — | |
Intercompany receivables (payables) | | | — | | | | (227 | ) | | | (134 | ) | | | 361 | | | | — | | | | — | |
Property, plant and equipment, net | | | — | | | | 2 | | | | 48 | | | | 69 | | | | — | | | | 119 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | 150 | | | $ | 736 | | | $ | 827 | | | $ | 773 | | | $ | (1,526 | ) | | $ | 960 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and shareholder’s equity | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 11 | | | $ | 79 | | | $ | 53 | | | $ | — | | | $ | 143 | |
Notes payable | | | — | | | | — | | | | — | | | | 23 | | | | — | | | | 23 | |
Accrued payroll and employee benefits | | | — | | | | 7 | | | | 3 | | | | 7 | | | | — | | | | 17 | |
Other accrued expenses | | | — | | | | 15 | | | | 21 | | | | 32 | | | | — | | | | 68 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 33 | | | | 103 | | | | 115 | | | | — | | | | 251 | |
Deferred employee benefits and noncurrent liabilities | | | — | | | | 6 | | | | — | | | | 6 | | | | — | | | | 12 | |
Long-term debt | | | — | | | | 546 | | | | — | | | | — | | | | — | | | | 546 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 585 | | | | 103 | | | | 121 | | | | — | | | | 809 | |
Total shareholder’s equity | | | 150 | | | | 151 | | | | 724 | | | | 652 | | | | (1,526 | ) | | | 151 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | 150 | | | $ | 736 | | | $ | 827 | | | $ | 773 | | | $ | (1,526 | ) | | $ | 960 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Balance Sheet |
|
September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Eliminations | | | Consolidated | |
Total |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 53 | | | $ | — | | | $ | 33 | | | $ | — | | | $ | 86 | |
Trade accounts receivable | | | — | | | | — | | | | 50 | | | | 132 | | | | — | | | | 182 | |
Inventories, net | | | — | | | | — | | | | 166 | | | | 136 | | | | — | | | | 302 | |
Other current assets | | | — | | | | 30 | | | | 7 | | | | 57 | | | | — | | | | 94 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 83 | | | | 223 | | | | 358 | | | | — | | | | 664 | |
Investments and other assets | | | — | | | | 148 | | | | 74 | | | | 25 | | | | — | | | | 247 | |
Intercompany investments | | | (197 | ) | | | 1,154 | | | | 704 | | | | — | | | | (1,661 | ) | | | — | |
Intercompany receivables (payables) | | | — | | | | (625 | ) | | | 221 | | | | 404 | | | | — | | | | — | |
Property, plant and equipment, net | | | — | | | | 2 | | | | 53 | | | | 69 | | | | — | | | | 124 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | (197 | ) | | $ | 762 | | | $ | 1,275 | | | $ | 856 | | | $ | (1,661 | ) | | $ | 1,035 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and shareholder’s equity | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 7 | | | $ | 90 | | | $ | 69 | | | $ | — | | | $ | 166 | |
Notes payable | | | — | | | | — | | | | — | | | | 22 | | | | — | | | | 22 | |
Accrued payroll and employee benefits | | | — | | | | 4 | | | | 6 | | | | 11 | | | | — | | | | 21 | |
Other accrued expenses | | | — | | | | 23 | | | | 24 | | | | 45 | | | | — | | | | 92 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 34 | | | | 120 | | | | 147 | | | | — | | | | 301 | |
Deferred employee benefits and noncurrent liabilities | | | — | | | | 8 | | | | 1 | | | | 5 | | | | — | | | | 14 | |
Long-term debt | | | — | | | | 916 | | | | — | | | | — | | | | — | | | | 916 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 958 | | | | 121 | | | | 152 | | | | — | | | | 1,231 | |
Total shareholder’s equity | | | (197 | ) | | | (196 | ) | | | 1,154 | | | | 704 | | | | (1,661 | ) | | | (196 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and shareholder’s equity | | $ | (197 | ) | | $ | 762 | | | $ | 1,275 | | | $ | 856 | | | $ | (1,661 | ) | | $ | 1,035 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Cash Flows |
|
For the Nine Months Ended September 30, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Elimination | | | Consolidated | |
Total |
Operating activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | $ | — | | | $ | 70 | | | $ | 6 | | | $ | 12 | | | $ | — | | | $ | 88 | |
Investing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Change in restricted cash | | | — | | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
Additions to property, plant and equipment | | | — | | | | — | | | | (7 | ) | | | (12 | ) | | | — | | | | (19 | ) |
Proceeds from sales of assets | | | — | | | | — | | | | 1 | | | | 3 | | | | — | | | | 4 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | — | | | | (6 | ) | | | (8 | ) | | | — | | | | (14 | ) |
Financing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net decrease in other short-term debt | | | — | | | | — | | | | — | | | | (4 | ) | | | — | | | | (4 | ) |
Payments of other debt | | | — | | | | — | | | | — | | | | (2 | ) | | | — | | | | (2 | ) |
Repayment on Secured Notes | | | — | | | | (23 | ) | | | — | | | | — | | | | — | | | | (23 | ) |
Net payments of ABL Revolver | | | — | | | | (50 | ) | | | — | | | | — | | | | — | | | | (50 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | — | | | | (73 | ) | | | — | | | | (6 | ) | | | — | | | | (79 | ) |
Effect of exchange rates on cash | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Decrease in cash and cash equivalents | | | — | | | | (3 | ) | | | — | | | | (2 | ) | | | — | | | | (5 | ) |
Cash and cash equivalents at beginning of the period | | | — | | | | 9 | | | | — | | | | 45 | | | | — | | | | 54 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of the period | | $ | — | | | $ | 6 | | | $ | — | | | $ | 43 | | | $ | — | | | $ | 49 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Cash Flows |
|
For the Nine Months Ended September 30, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Elimination | | | Consolidated | |
Total |
Operating activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by operating activities | | $ | — | | | $ | 43 | | | $ | 10 | | | $ | 16 | | | $ | — | | | $ | 69 | |
Investing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Investment in companies, net of cash acquired | | | — | | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Additions to property, plant and equipment | | | — | | | | — | | | | (10 | ) | | | (8 | ) | | | — | | | | (18 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | — | | | | (10 | ) | | | (9 | ) | | | — | | | | (19 | ) |
Financing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net decrease in other short-term debt | | | — | | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Repayment of Secured Notes | | | — | | | | (195 | ) | | | — | | | | — | | | | — | | | | (195 | ) |
Repayment of Subordinated Notes | | | — | | | | (367 | ) | | | — | | | | — | | | | — | | | | (367 | ) |
Repayment on Term Loans | | | — | | | | (1 | ) | | | — | | | | — | | | | — | | | | (1 | ) |
Proceeds from Senior Notes | | | — | | | | 250 | | | | — | | | | — | | | | — | | | | 250 | |
Proceeds from Term Loans | | | — | | | | 667 | | | | — | | | | — | | | | — | | | | 667 | |
Distribution to our shareholder | | | — | | | | (352 | ) | | | — | | | | — | | | | — | | | | (352 | ) |
Payment of deferred financing costs | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in financing activities | | | — | | | | (13 | ) | | | — | | | | (1 | ) | | | — | | | | (14 | ) |
Effect of exchange rates on cash | | | — | | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Increase in cash and cash equivalents | | | — | | | | 30 | | | | — | | | | 5 | | | | — | | | | 35 | |
Cash and cash equivalents at beginning of the period | | | — | | | | 23 | | | | — | | | | 28 | | | | — | | | | 51 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of the period | | $ | — | | | $ | 53 | | | $ | — | | | $ | 33 | | | $ | — | | | $ | 86 | |
| | | | | | | | | | | | | | | | | | | | | | | | |