Financial Information for Guarantors and Non-Guarantors | 12 Months Ended |
Dec. 31, 2014 |
Guarantees [Abstract] | |
Financial Information for Guarantors and Non-Guarantors | 19. FINANCIAL INFORMATION FOR GUARANTORS AND NON-GUARANTORS |
|
|
|
Holdings (presented as “Parent” in the following schedules), through its wholly-owned subsidiary, Affinia (presented as “Issuer” in the following schedules), issued $250 million of Senior Notes on April 25, 2013. As of December 31, 2014, 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 by the Company’s current and future domestic subsidiaries (the “Guarantors”). The Senior Notes are general obligations of the Issuer and guaranteed by the Parent and the Guarantors. |
|
The following information presents Condensed Consolidating Statements of Operations for the years ended December 31, 2014, December 31, 2013 and December 31, 2012, Condensed Consolidating Statements of Comprehensive Income for the years ended December 31, 2014, December 31, 2013 and December 31, 2012, Condensed Consolidating Balance Sheets as of December 31, 2014 and December 31, 2013 and Condensed Consolidating Statements of Cash Flows for the years ended December 31, 2014, December 31, 2013 and December 31, 2012 of (i) the Parent, (ii) the Issuer, (iii) the Guarantors, (iv) the Non-Guarantors, and (v) eliminations to arrive at the information for the Company on a consolidated basis. Other separate financial statements and other disclosures concerning the Parent and the Guarantors are not presented because management does not believe that such information is material to investors. |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Year Ended December 31, 2014 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net sales | | $ | — | | | $ | — | | | $ | 684 | | | $ | 870 | | | $ | (158 | ) | | $ | 1,396 | |
Cost of sales | | | — | | | | — | | | | (539 | ) | | | (675 | ) | | | 158 | | | | (1,056 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 145 | | | | 195 | | | | — | | | | 340 | |
Selling, general and administrative expenses | | | — | | | | (39 | ) | | | (68 | ) | | | (92 | ) | | | — | | | | (199 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating (loss) profit | | | — | | | | (39 | ) | | | 77 | | | | 103 | | | | — | | | | 141 | |
Other income and expense, net | | | — | | | | (3 | ) | | | (1 | ) | | | (9 | ) | | | — | | | | (13 | ) |
Interest expense | | | — | | | | (55 | ) | | | — | | | | (1 | ) | | | — | | | | (56 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | | | — | | | | (97 | ) | | | 76 | | | | 93 | | | | — | | | | 72 | |
Income tax provision | | | — | | | | (9 | ) | | | — | | | | (10 | ) | | | — | | | | (19 | ) |
Equity in (loss) income, net of tax | | | 82 | | | | 188 | | | | 86 | | | | — | | | | (356 | ) | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income from continuing operations | | | 82 | | | | 82 | | | | 162 | | | | 83 | | | | (356 | ) | | | 53 | |
Income from discontinued operations, net of tax | | | — | | | | — | | | | 26 | | | | 3 | | | | — | | | | 29 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | | 82 | | | | 82 | | | | 188 | | | | 86 | | | | (356 | ) | | | 82 | |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income attributable to the Company | | $ | 82 | | | $ | 82 | | | $ | 188 | | | $ | 86 | | | $ | (356 | ) | | $ | 82 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Guarantor Condensed | |
| |
Consolidating Statement of Comprehensive Income (Loss) | |
| |
For the Year Ended December 31, 2014 | |
| |
| |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net income (loss) | | $ | 82 | | | $ | 82 | | | $ | 188 | | | $ | 86 | | | $ | (356 | ) | | $ | 82 | |
Other comprehensive (loss) income, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Interest Rate Swap | | | (8 | ) | | | (8 | ) | | | — | | | | — | | | | 8 | | | | (8 | ) |
Pension liability adjustment | | | 1 | | | | 1 | | | | — | | | | 1 | | | | (2 | ) | | | 1 | |
Reclassification adjustments included in net income | | | 2 | | | | 2 | | | | — | | | | 2 | | | | (4 | ) | | | 2 | |
Change in foreign currency translation adjustments | | | (28 | ) | | | (28 | ) | | | — | | | | (28 | ) | | | 56 | | | | (28 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive income (loss) | | | (33 | ) | | | (33 | ) | | | — | | | | (25 | ) | | | 58 | | | | (33 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive income (loss) | | | 49 | | | | 49 | | | | 188 | | | | 61 | | | | (298 | ) | | | 49 | |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive income (loss) attributable to the Company | | $ | 49 | | | $ | 49 | | | $ | 188 | | | $ | 61 | | | $ | (298 | ) | | $ | 49 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Year Ended December 31, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net sales | | $ | — | | | $ | — | | | $ | 628 | | | $ | 877 | | | $ | (144 | ) | | $ | 1,361 | |
Cost of sales | | | — | | | | — | | | | (506 | ) | | | (681 | ) | | | 144 | | | | (1,043 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 122 | | | | 196 | | | | — | | | | 318 | |
Selling, general and administrative expenses | | | — | | | | (46 | ) | | | (63 | ) | | | (91 | ) | | | — | | | | (200 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating (loss) profit | | | — | | | | (46 | ) | | | 59 | | | | 105 | | | | — | | | | 118 | |
Loss on extinguishment of debt | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
Other (loss) income, net | | | — | | | | (2 | ) | | | 1 | | | | — | | | | — | | | | (1 | ) |
Interest expense | | | — | | | | (72 | ) | | | — | | | | (1 | ) | | | — | | | | (73 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | | | — | | | | (135 | ) | | | 60 | | | | 104 | | | | — | | | | 29 | |
Income tax provision | | | — | | | | 2 | | | | — | | | | (24 | ) | | | — | | | | (22 | ) |
Equity in income (loss), net of tax | | | 10 | | | | 143 | | | | 64 | | | | (2 | ) | | | (217 | ) | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income from continuing operations | | | 10 | | | | 10 | | | | 124 | | | | 78 | | | | (217 | ) | | | 5 | |
Income (loss) from discontinued operations, net of tax | | | — | | | | — | | | | 19 | | | | (14 | ) | | | — | | | | 5 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) | | | 10 | | | | 10 | | | | 143 | | | | 64 | | | | (217 | ) | | | 10 | |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net income (loss) attributable to the Company | | $ | 10 | | | $ | 10 | | | $ | 143 | | | $ | 64 | | | $ | (217 | ) | | $ | 10 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Guarantor Condensed | |
| |
Consolidating Statement of Comprehensive Income (Loss) | |
| |
For the Year Ended December 31, 2013 | |
| |
| |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net income (loss) | | $ | 10 | | | $ | 10 | | | $ | 143 | | | $ | 64 | | | $ | (217 | ) | | $ | 10 | |
Other comprehensive income (loss), net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Pension liability adjustment | | | 1 | | | | 1 | | | | — | | | | 1 | | | | (2 | ) | | | 1 | |
Change in foreign currency translation adjustments | | | (19 | ) | | | (19 | ) | | | — | | | | (19 | ) | | | 38 | | | | (19 | ) |
Change in fair value of interest rate swaps | | | 9 | | | | 9 | | | | — | | | | — | | | | (9 | ) | | | 9 | |
Less: reclassification adjustments included in net income | | | (2 | ) | | | (2 | ) | | | — | | | | — | | | | 2 | | | | (2 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive (loss) income | | | (11 | ) | | | (11 | ) | | | — | | | | (18 | ) | | | 29 | | | | (11 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive (loss) income | | | (1 | ) | | | (1 | ) | | | 143 | | | | 46 | | | | (188 | ) | | | (1 | ) |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income attributable to the Company | | $ | (1 | ) | | $ | (1 | ) | | $ | 143 | | | $ | 46 | | | $ | (188 | ) | | $ | (1 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Operations |
|
For the Year Ended December 31, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net sales | | $ | — | | | $ | — | | | $ | 609 | | | $ | 997 | | | $ | (347 | ) | | $ | 1,259 | |
Cost of sales | | | — | | | | — | | | | (490 | ) | | | (824 | ) | | | 347 | | | | (967 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Gross profit | | | — | | | | — | | | | 119 | | | | 173 | | | | — | | | | 292 | |
Selling, general and administrative expenses | | | — | | | | (45 | ) | | | (46 | ) | | | (81 | ) | | | — | | | | (172 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Operating (loss) profit | | | — | | | | (45 | ) | | | 73 | | | | 92 | | | | — | | | | 120 | |
Loss on extinguishment of debt | | | — | | | | (1 | ) | | | — | | | | — | | | | — | | | | (1 | ) |
Other income (loss), net | | | — | | | | 3 | | | | (4 | ) | | | 4 | | | | — | | | | 3 | |
Interest expense | | | — | | | | (62 | ) | | | — | | | | (1 | ) | | | — | | | | (63 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
(Loss) income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | | | — | | | | (105 | ) | | | 69 | | | | 95 | | | | — | | | | 59 | |
Income tax provision | | | — | | | | (21 | ) | | | 2 | | | | (26 | ) | | | — | | | | (45 | ) |
Equity in (loss) income, net of tax | | | (103 | ) | | | 23 | | | | 653 | | | | 1 | | | | (573 | ) | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income from continuing operations | | | (103 | ) | | | (103 | ) | | | 724 | | | | 70 | | | | (573 | ) | | | 15 | |
(Loss) Income from discontinued operations, net of tax | | | — | | | | — | | | | (701 | ) | | | 584 | | | | — | | | | (117 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income | | | (103 | ) | | | (103 | ) | | | 23 | | | | 654 | | | | (573 | ) | | | (102 | ) |
Less: net income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net (loss) income attributable to the Company | | $ | (103 | ) | | $ | (103 | ) | | $ | 23 | | | $ | 653 | | | $ | (573 | ) | | $ | (103 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
Guarantor Condensed |
|
Consolidating Statement of Comprehensive Income (Loss) |
|
For the Year Ended December 31, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Net (loss) income | | $ | (103 | ) | | $ | (103 | ) | | $ | 23 | | | $ | 654 | | | $ | (573 | ) | | $ | (102 | ) |
Other comprehensive (loss) income, net of tax: | | | | | | | | | | | | | | | | | | | | | | | | |
Change in foreign currency translation adjustments | | | (15 | ) | | | (15 | ) | | | — | | | | (15 | ) | | | 30 | | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total other comprehensive (loss) income | | | (15 | ) | | | (15 | ) | | | — | | | | (15 | ) | | | 30 | | | | (15 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total comprehensive (loss) income | | | (118 | ) | | | (118 | ) | | | 23 | | | | 639 | | | | (543 | ) | | | (117 | ) |
Less: comprehensive income attributable to noncontrolling interest, net of tax | | | — | | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Comprehensive (loss) income attributable to the Company | | $ | (118 | ) | | $ | (118 | ) | | $ | 23 | | | $ | 638 | | | $ | (543 | ) | | $ | (118 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Balance Sheet |
|
December 31, 2014 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 10 | | | $ | — | | | $ | 35 | | | $ | — | | | $ | 45 | |
Restricted Cash | | | — | | | | — | | | | — | | | | 4 | | | | — | | | | 4 | |
Accounts receivable | | | — | | | | — | | | | 44 | | | | 101 | | | | — | | | | 145 | |
Inventories | | | — | | | | — | | | | 98 | | | | 116 | | | | — | | | | 214 | |
Other current assets | | | — | | | | 44 | | | | 1 | | | | 60 | | | | — | | | | 105 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 54 | | | | 143 | | | | 316 | | | | — | | | | 513 | |
Investments and other assets | | | — | | | | 121 | | | | 36 | | | | 28 | | | | — | | | | 185 | |
Intercompany investments | | | (220 | ) | | | 388 | | | | 749 | | | | — | | | | (917 | ) | | | — | |
Intercompany receivables (payables) | | | — | | | | 48 | | | | (508 | ) | | | 460 | | | | — | | | | — | |
Property, plant and equipment, net | | | — | | | | 1 | | | | 57 | | | | 65 | | | | — | | | | 123 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | (220 | ) | | $ | 612 | | | $ | 477 | | | $ | 869 | | | $ | (917 | ) | | $ | 821 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and Equity | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 10 | | | $ | 70 | | | $ | 58 | | | $ | — | | | $ | 138 | |
Notes payable | | | — | | | | — | | | | — | | | | 19 | | | | — | | | | 19 | |
Accrued payroll and employee benefits | | | — | | | | 9 | | | | 4 | | | | 7 | | | | — | | | | 20 | |
Other accrued expenses | | | — | | | | 15 | | | | 15 | | | | 28 | | | | — | | | | 58 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 34 | | | | 89 | | | | 112 | | | | — | | | | 235 | |
Deferred employee benefits and noncurrent liabilities | | | — | | | | 5 | | | | — | | | | 8 | | | | — | | | | 13 | |
Long-term debt | | | — | | | | 792 | | | | — | | | | — | | | | — | | | | 792 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 831 | | | | 89 | | | | 120 | | | | — | | | | 1,040 | |
Total shareholder’s (deficit) equity | | | (220 | ) | | | (219 | ) | | | 388 | | | | 749 | | | | (917 | ) | | | (219 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | (220 | ) | | $ | 612 | | | $ | 477 | | | $ | 869 | | | $ | (917 | ) | | $ | 821 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Balance Sheet |
|
December 31, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Eliminations | | | Consolidated | |
Guarantor | Total |
Assets | | | | | | | | | | | | | | | | | | | | | | | | |
Current assets: | | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 68 | | | $ | — | | | $ | 33 | | | $ | — | | | $ | 101 | |
Accounts receivable | | | — | | | | — | | | | 24 | | | | 117 | | | | — | | | | 141 | |
Inventories | | | — | | | | — | | | | 87 | | | | 134 | | | | — | | | | 221 | |
Other current assets | | | — | | | | 50 | | | | — | | | | 50 | | | | — | | | | 100 | |
Current assets of discontinued operations | | | — | | | | — | | | | 138 | | | | 3 | | | | — | | | | 141 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current assets | | | — | | | | 118 | | | | 249 | | | | 337 | | | | — | | | | 704 | |
Other non-current assets | | | — | | | | 122 | | | | 36 | | | | 24 | | | | — | | | | 182 | |
Intercompany investments | | | (202 | ) | | | 1,196 | | | | 726 | | | | — | | | | (1,720 | ) | | | — | |
Intercompany (payables) receivables | | | — | | | | (672 | ) | | | 247 | | | | 425 | | | | — | | | | — | |
Property, plant and equipment, net | | | — | | | | 2 | | | | 50 | | | | 71 | | | | — | | | | 123 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total assets | | $ | (202 | ) | | $ | 766 | | | $ | 1,308 | | | $ | 857 | | | $ | (1,720 | ) | | $ | 1,009 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Liabilities and Equity | | | | | | | | | | | | | | | | | | | | | | | | |
Current liabilities: | | | | | | | | | | | | | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 6 | | | $ | 65 | | | $ | 50 | | | $ | — | | | $ | 121 | |
Notes payable | | | — | | | | — | | | | — | | | | 23 | | | | — | | | | 23 | |
Current maturities of long-term debt | | | — | | | | 7 | | | | — | | | | — | | | | — | | | | 7 | |
Accrued payroll and employee benefits | | | — | | | | 8 | | | | 3 | | | | 8 | | | | — | | | | 19 | |
Other accrued expenses | | | — | | | | 22 | | | | 14 | | | | 42 | | | | — | | | | 78 | |
Current liabilities of discontinued operations | | | — | | | | — | | | | 29 | | | | 2 | | | | — | | | | 31 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total current liabilities | | | — | | | | 43 | | | | 111 | | | | 125 | | | | — | | | | 279 | |
Deferred employee benefits and noncurrent liabilities | | | — | | | | 17 | | | | 1 | | | | 6 | | | | — | | | | 24 | |
Long-term debt | | | — | | | | 907 | | | | — | | | | — | | | | — | | | | 907 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities | | | — | | | | 967 | | | | 112 | | | | 131 | | | | — | | | | 1,210 | |
Total shareholder’s (deficit) equity | | | (202 | ) | | | (201 | ) | | | 1,196 | | | | 726 | | | | (1,720 | ) | | | (201 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Total liabilities and equity | | $ | (202 | ) | | $ | 766 | | | $ | 1,308 | | | $ | 857 | | | $ | (1,720 | ) | | $ | 1,009 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Cash Flows |
|
For the Year Ended December 31, 2014 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Elimination | | | Consolidated | |
Guarantor | Total |
Operating activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | 66 | | | $ | (25 | ) | | $ | 13 | | | $ | 32 | | | $ | (66 | ) | | $ | 20 | |
Investing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from sales of assets | | | — | | | | 149 | | | | — | | | | — | | | | — | | | | 149 | |
Change in restricted cash | | | — | | | | — | | | | — | | | | (4 | ) | | | — | | | | (4 | ) |
Additions to property, plant, and equipment | | | — | | | | — | | | | (13 | ) | | | (13 | ) | | | — | | | | (26 | ) |
Proceeds from sale of equity method investment | | | — | | | | 4 | | | | — | | | | — | | | | — | | | | 4 | |
Other investing activities | | | — | | | | 3 | | | | — | | | | — | | | | — | | | | 3 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | — | | | | 156 | | | | (13 | ) | | | (17 | ) | | | — | | | | 126 | |
Financing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Repayments of other debt | | | (66 | ) | | | — | | | | — | | | | (10 | ) | | | 66 | | | | (10 | ) |
Proceeds from other debt | | | — | | | | — | | | | — | | | | 7 | | | | — | | | | 7 | |
Dividend to Shareholder | | | — | | | | (66 | ) | | | — | | | | — | | | | — | | | | (66 | ) |
Repayments of Term Loans | | | — | | | | (123 | ) | | | — | | | | — | | | | — | | | | (123 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by financing activities | | | (66 | ) | | | (189 | ) | | | — | | | | (3 | ) | | | 66 | | | | (192 | ) |
Effect of exchange rates on cash | | | — | | | | — | | | | — | | | | (10 | ) | | | — | | | | (10 | ) |
Change in cash and cash equivalents | | | — | | | | (58 | ) | | | — | | | | 2 | | | | — | | | | (56 | ) |
Cash and cash equivalents at beginning of period | | | — | | | | 68 | | | | — | | | | 33 | | | | — | | | | 101 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 10 | | | $ | — | | | $ | 35 | | | $ | — | | | $ | 45 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Cash Flows |
|
For the Year Ended December 31, 2013 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non- | | | Elimination | | | Consolidated | |
Guarantor | Total |
Operating activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash (used in) provided by operating activities | | $ | 352 | | | $ | 61 | | | $ | 17 | | | $ | 21 | | | $ | (352 | ) | | $ | 99 | |
Investing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Investments in companies, net of cash acquired | | | — | | | | — | | | | — | | | | (1 | ) | | | — | | | | (1 | ) |
Additions to property, plant, and equipment | | | — | | | | (1 | ) | | | (17 | ) | | | (13 | ) | | | — | | | | (31 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) investing activities | | | — | | | | (1 | ) | | | (17 | ) | | | (14 | ) | | | — | | | | (32 | ) |
Financing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Repayment on Secured Notes | | | — | | | | (195 | ) | | | — | | | | — | | | | — | | | | (195 | ) |
Repayment on Subordinated Notes | | | — | | | | (367 | ) | | | — | | | | — | | | | — | | | | (367 | ) |
Dividend to Shareholder | | | (352 | ) | | | (352 | ) | | | — | | | | — | | | | 352 | | | | (352 | ) |
Repayment on Term Loans | | | — | | | | (3 | ) | | | — | | | | — | | | | — | | | | (3 | ) |
Payment of deferred financing costs | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
Proceeds from Term Loans | | | — | | | | 667 | | | | — | | | | — | | | | — | | | | 667 | |
Proceeds from Senior Notes | | | — | | | | 250 | | | | — | | | | — | | | | — | | | | 250 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by financing activities | | | — | | | | (15 | ) | | | — | | | | — | | | | — | | | | (15 | ) |
Effect of exchange rates on cash | | | — | | | | — | | | | — | | | | (2 | ) | | | — | | | | (2 | ) |
Change in cash and cash equivalents | | | — | | | | 45 | | | | — | | | | 5 | | | | — | | | | 50 | |
Cash and cash equivalents at beginning of period | | $ | — | | | $ | 23 | | | $ | — | | | $ | 28 | | | $ | — | | | $ | 51 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 68 | | | $ | — | | | $ | 33 | | | $ | — | | | $ | 101 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|
|
Affinia Group Intermediate Holdings Inc. |
|
Guarantor Condensed |
|
Consolidating Statement of Cash Flows |
|
For the Year Ended December 31, 2012 |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | |
(Dollars in millions) | | Parent | | | Issuer | | | Guarantor | | | Non-Guarantor | | | Elimination | | | Consolidated | |
Total |
Operating activities | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) operating activities | | $ | — | | | $ | 151 | | | $ | (58 | ) | | $ | 4 | | | $ | — | | | $ | 97 | |
Investing activities | | | | | | | | | | | | | | | | | | | | | | | | |
Proceeds from sales of assets | | | — | | | | — | | | | 1 | | | | 3 | | | | — | | | | 4 | |
Additions to property, plant, and equipment | | | — | | | | — | | | | (8 | ) | | | (19 | ) | | | — | | | | (27 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash used in investing activities | | | — | | | | — | | | | (7 | ) | | | (16 | ) | | | — | | | | (23 | ) |
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 | | | — | | | | (110 | ) | | | — | | | | — | | | | — | | | | (110 | ) |
Cash related to the deconsolidation of BPI | | | — | | | | — | | | | (11 | ) | | | — | | | | — | | | | (11 | ) |
Proceeds from BPI’s new credit facility | | | — | | | | — | | | | 76 | | | | — | | | | — | | | | 76 | |
Payment of deferred financing costs | | | — | | | | (1 | ) | | | — | | | | — | | | | — | | | | (1 | ) |
Purchase of noncontrolling interest | | | — | | | | (3 | ) | | | — | | | | — | | | | — | | | | (3 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used in) financing activities | | | — | | | | (137 | ) | | | 65 | | | | (6 | ) | | | — | | | | (78 | ) |
Effect of exchange rates on cash | | | — | | | | — | | | | — | | | | 1 | | | | — | | | | 1 | |
Change in cash and cash equivalents | | | — | | | | 14 | | | | — | | | | (17 | ) | | | — | | | | (3 | ) |
Cash and cash equivalents at beginning of period | | | — | | | | 9 | | | | — | | | | 45 | | | | — | | | | 54 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Cash and cash equivalents at end of period | | $ | — | | | $ | 23 | | | $ | — | | | $ | 28 | | | $ | — | | | $ | 51 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
|
|