Federal-mogul (FDML) 8-K Federal-Mogul Announces Divestiture of its

Exhibit 99.2

FEDERAL-MOGUL CORPORATION

Unaudited Pro Forma Consolidated Balance Sheet

	December 31, 2012
	As Reported			Disposition(a)			Pro Forma
	(Millions of Dollars)
ASSETS
Current assets:
Cash and equivalents	$	467		$	(42	)(b)	$	425
Accounts receivable, net		1,396			(7	)		1,389
Inventories, net		1,074			(5	)		1,069
Prepaid expenses and other current assets		203			(8	)		195
Total current assets		3,140			(62	)		3,078
Property, plant and equipment, net		1,971			(7	)		1,964
Goodwill and other indefinite-lived intangible assets		1,019			(2	)		1,017
Definite-lived intangible assets, net		408			—			408
Investments in non-consolidated affiliates		240			—			240
Other noncurrent assets		149			—			149
	$	6,927		$	(71	)	$	6,856
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt, including current portion of long-term debt	$	94		$	—		$	94
Accounts payable		751			(9	)		742
Accrued liabilities		423			(9	)		414
Current portion of pensions and other postemployment benefits liability		47			—			47
Other current liabilities		174			—			174
Total current liabilities		1,489			(18	)		1,471
Long-term debt		2,733			—			2,733
Pensions and other postemployment benefits liability		1,362			(10	)		1,352
Long-term portion of deferred income taxes		388			—			388
Other accrued liabilities		123			—			123
Shareholders’ equity:
Preferred stock ($.01 par value; 90,000,000 authorized shares; none issued)		—			—			—
Common stock ($.01 par value; 450,100,000 authorized shares; 100,500,000 issued shares; 98,904,500 outstanding shares as of December 31, 2012)		1			—			1
Additional paid-in capital, including warrants		2,150			—			2,150
Accumulated deficit		(559	)		(48	)(c)		(607	)
Accumulated other comprehensive loss		(850	)		5			(845	)
Treasury stock, at cost		(17	)		—			(17	)
Total Federal-Mogul shareholders’ equity		725			(43	)		682
Noncontrolling interests		107			—			107
Total shareholders’ equity		832			(43	)		789
	$	6,927		$	(71	)	$	6,856

FEDERAL-MOGUL CORPORATION

Unaudited Pro Forma Consolidated Statement of Operations

	Year Ended December 31, 2012
	As Reported			Disposition(d)			Pro Forma
	(Millions of Dollars, Except Per Share Amounts)
Net sales	$	6,664		$	(71	)	$	6,593
Cost of products sold		(5,753	)		79			(5,674	)
Gross margin		911			8			919
Selling, general and administrative expenses		(712	)		6			(706	)
OPEB curtailment gains		51			—			51
Adjustment of assets to fair value		(194	)		7			(187	)
Interest expense, net		(128	)		—			(128	)
Amortization expense		(49	)		—			(49	)
Equity earnings of non-consolidated affiliates		34			—			34
Restructuring expense, net		(26	)		—			(26	)
Other expense, net		(26	)		—			(26	)
(Loss) income before income taxes		(139	)		21			(118	)
Income tax benefit (expense)		29			—			29
Net (loss) income		(110	)		21			(89	)
Less net income attributable to noncontrolling interests		(7	)		—			(7	)
Net (loss) income attributable to Federal-Mogul	$	(117	)	$	21		$	(96	)
Net (Loss) Income Per Common Share Attributable to Federal-Mogul:
Basic	$	(1.18	)	$	0.21		$	(0.97	)
Diluted	$	(1.18	)	$	0.21		$	(0.97	)
Weighted average shares outstanding – basic (in millions)		98.9			98.9			98.9
Weighted average shares outstanding – diluted (in millions)		99.4			99.4			99.4

FEDERAL-MOGUL CORPORATION

Unaudited Pro Forma Consolidated Statement of Operations

	Year Ended December 31, 2011
	As Reported			Disposition(d)			Pro Forma
	(Millions of Dollars, Except Per Share Amounts)
Net sales	$	6,910		$	(90	)	$	6,820
Cost of products sold		(5,822	)		91			(5,731	)
Gross margin		1,088			1			1,089
Selling, general and administrative expenses		(689	)		6			(683	)
OPEB curtailment gains		1			—			1
Adjustment of assets to fair value		(307	)		—			(307	)
Interest expense, net		(127	)		—			(127	)
Amortization expense		(48	)		—			(48	)
Equity earnings of non-consolidated affiliates		37			—			37
Restructuring expense, net		(5	)		—			(5	)
Other expense, net		(16	)		1			(15	)
(Loss) income before income taxes		(66	)		8			(58	)
Income tax expense		(17	)		—			(17	)
Net (loss) income		(83	)		8			(75	)
Less net income attributable to noncontrolling interests		(7	)		—			(7	)
Net (loss) income attributable to Federal-Mogul	$	(90	)	$	8		$	(82	)
Net (Loss) Income Per Common Share Attributable to Federal-Mogul:
Basic	$	(0.91	)	$	0.08		$	(0.83	)
Diluted	$	(0.91	)	$	0.08		$	(0.83	)
Weighted average shares outstanding – basic (in millions)		98.9			98.9			98.9
Weighted average shares outstanding – diluted (in millions)		99.4			99.4			99.4

FEDERAL-MOGUL CORPORATION

Unaudited Pro Forma Consolidated Statement of Operations

	Year Ended December 31, 2010
	As Reported			Disposition(d)			Pro Forma
	(Millions of Dollars, Except Per Share Amounts)
Net sales	$	6,219		$	(80	)	$	6,139
Cost of products sold		(5,212	)		79			(5,133	)
Gross margin		1,007			(1	)		1,006
Selling, general and administrative expenses		(684	)		5			(679	)
OPEB curtailment gains		29			—			29
Adjustment of assets to fair value		(2	)		—			(2	)
Interest expense, net		(129	)		—			(129	)
Amortization expense		(49	)		—			(49	)
Equity earnings of non-consolidated affiliates		32			—			32
Restructuring expense, net		(8	)		1			(7	)
Other expense, net		(17	)		—			(17	)
Income before income taxes		179			5			184
Income tax expense		(12	)		—			(12	)
Net income		167			5			172
Less net income attributable to noncontrolling interests		(6	)		—			(6	)
Net income attributable to Federal-Mogul	$	161		$	5		$	166
Net Income Per Common Share Attributable to Federal-Mogul:
Basic	$	1.63		$	0.05		$	1.68
Diluted	$	1.62		$	0.05		$	1.67
Weighted average shares outstanding – basic (in millions)		98.9			98.9			98.9
Weighted average shares outstanding – diluted (in millions)		99.4			99.4			99.4

FEDERAL-MOGUL CORPORATION

Notes to the Pro Forma Financial Statements

(a) To reflect the sale of F-M Sintertech as if the sale occurred on December 31, 2012.

(b) In connection with the sale, F-M Corp transferred $42 million in cash to Seller, inclusive of 30 million Euro in cash contributed at closing and 2 million Euro of cash on hand.

(c) Estimated loss on the sale of F-M Sintertech as if sold on December 31, 2012.

(d) To remove the operating results of F-M Sintertech as if sold on January 1, 2010.