Condensed Consolidating Financial Statements (Notes) | 6 Months Ended |
Jun. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Condensed Consolidating Financial Statements | ' |
13. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS |
On February 9, 2011 and October 23, 2012, Aleris International issued the 7 5/8% senior notes and the 7 7/8% senior notes (collectively, the “Senior Notes”), respectively. Aleris Corporation, the direct parent of Aleris International, and certain of its subsidiaries (collectively, the “Guarantor Subsidiaries”) are guarantors of the indebtedness under the Senior Notes. Aleris Corporation and each of the Guarantor Subsidiaries have fully and unconditionally guaranteed (subject, in the case of the Guarantor Subsidiaries, to customary release provisions as described below), on a joint and several basis, to pay principal and interest related to the Senior Notes and Aleris International and each of the Guarantor Subsidiaries are directly or indirectly 100% owned subsidiaries of Aleris Corporation. For purposes of complying with the reporting requirements of Aleris International and the Guarantor Subsidiaries, presented below are condensed consolidating financial statements of Aleris Corporation, Aleris International, the Guarantor Subsidiaries, and those other subsidiaries of Aleris Corporation that are not guaranteeing the indebtedness under the Senior Notes (the “Non-Guarantor Subsidiaries”). The condensed consolidating balance sheets are presented as of June 30, 2014 and December 31, 2013. The condensed consolidating statements of comprehensive (loss) income are presented for the three and six months ended June 30, 2014 and 2013. The condensed consolidating statements of cash flows are presented for the six months ended June 30, 2014 and 2013. |
The guarantee of a Guarantor Subsidiary will be automatically and unconditionally released and discharged in the event of: |
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▪ | any sale of the Guarantor Subsidiary or of all or substantially all of its assets; | | | | | | | | | | | | | | | | | | | | | | | |
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▪ | a Guarantor Subsidiary being designated as an “unrestricted subsidiary” in accordance with the indentures governing the Senior Notes; | | | | | | | | | | | | | | | | | | | | | | | |
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▪ | the release or discharge of a Guarantor Subsidiary from its guarantee under the ABL facility or other indebtedness that resulted in the obligation of the Guarantor Subsidiary under the indentures governing the Senior Notes; and | | | | | | | | | | | | | | | | | | | | | | | |
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▪ | the requirements for legal defeasance or covenant defeasance or discharge of the indentures governing the Senior Notes having been satisfied. | | | | | | | | | | | | | | | | | | | | | | | |
The condensed consolidating statement of cash flows for the six months ended June 30, 2013 has been restated to revise the presentation of cash flows related to intercompany loans. The revisions significantly changed the classification of certain intercompany cash flows as operating, investing and financing activities; however, there was no change in the total net cash flows of Aleris Corporation, Aleris International, Inc. or the Guarantor Subsidiaries. There was no impact to the condensed consolidating statements of comprehensive (loss) income or to the consolidated financial statements for the three and six months ended June 30, 2013 as a result of these presentation changes. |
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| | As of June 30, 2014 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
ASSETS | | | | | | | | | | |
Current Assets | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 3 | | | $ | 2.9 | | | $ | 46 | | | $ | — | | | $ | 51.9 | |
|
Accounts receivable, net | | — | | | 0.1 | | | 197 | | | 320.5 | | | — | | | 517.6 | |
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Inventories | | — | | | — | | | 327.9 | | | 456.7 | | | — | | | 784.6 | |
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Deferred income taxes | | — | | | — | | | 0.2 | | | 6.9 | | | — | | | 7.1 | |
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Prepaid expenses and other current assets | | — | | | 3.1 | | | 14.9 | | | 15.2 | | | — | | | 33.2 | |
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Intercompany receivables | | — | | | 523.7 | | | 493.4 | | | 186 | | | (1,203.1 | ) | | — | |
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Total Current Assets | | — | | | 529.9 | | | 1,036.30 | | | 1,031.30 | | | (1,203.1 | ) | | 1,394.40 | |
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Property, plant and equipment, net | | — | | | — | | | 417 | | | 785.2 | | | — | | | 1,202.20 | |
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Intangible assets, net | | — | | | — | | | 29.3 | | | 15.9 | | | — | | | 45.2 | |
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Deferred income taxes | | — | | | — | | | — | | | 45.2 | | | — | | | 45.2 | |
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Other long-term assets | | — | | | 10.4 | | | 6.1 | | | 59 | | | — | | | 75.5 | |
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Intercompany receivables | | — | | | 3.8 | | | — | | | — | | | (3.8 | ) | | — | |
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Investments in subsidiaries | | 338.9 | | | 1,577.40 | | | 118.2 | | | — | | | (2,034.5 | ) | | — | |
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Total Assets | | $ | 338.9 | | | $ | 2,121.50 | | | $ | 1,606.90 | | | $ | 1,936.60 | | | $ | (3,241.4 | ) | | $ | 2,762.50 | |
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LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | |
Current Liabilities | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 5.7 | | | $ | 195.7 | | | $ | 221.5 | | | $ | — | | | $ | 422.9 | |
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Accrued liabilities | | — | | | 21.7 | | | 66.8 | | | 126.1 | | | — | | | 214.6 | |
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Deferred income taxes | | — | | | — | | | — | | | 3.9 | | | — | | | 3.9 | |
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Current portion of long-term debt | | — | | | — | | | 0.5 | | | 11 | | | — | | | 11.5 | |
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Intercompany payables | | — | | | 546.4 | | | 580.6 | | | 76.1 | | | (1,203.1 | ) | | — | |
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Total Current Liabilities | | — | | | 573.8 | | | 843.6 | | | 438.6 | | | (1,203.1 | ) | | 652.9 | |
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Long-term debt | | — | | | 1,203.10 | | | 0.6 | | | 207.6 | | | — | | | 1,411.30 | |
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Deferred income taxes | | — | | | — | | | 0.2 | | | 6.5 | | | — | | | 6.7 | |
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Accrued pension benefits | | — | | | — | | | 29 | | | 195 | | | — | | | 224 | |
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Accrued postretirement benefits | | — | | | — | | | 40.5 | | | — | | | — | | | 40.5 | |
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Other long-term liabilities | | — | | | — | | | 32.9 | | | 52.7 | | | — | | | 85.6 | |
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Intercompany payables | | 3.8 | | | — | | | — | | | — | | | (3.8 | ) | | — | |
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Total Long-Term Liabilities | | 3.8 | | | 1,203.10 | | | 103.2 | | | 461.8 | | | (3.8 | ) | | 1,768.10 | |
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Redeemable noncontrolling interest | | — | | | 5.7 | | | — | | | — | | | — | | | 5.7 | |
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Total equity | | 335.1 | | | 338.9 | | | 660.1 | | | 1,035.50 | | | (2,034.5 | ) | | 335.1 | |
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Noncontrolling interest | | — | | | — | | | — | | | 0.7 | | | — | | | 0.7 | |
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Total Liabilities and Equity | | $ | 338.9 | | | $ | 2,121.50 | | | $ | 1,606.90 | | | $ | 1,936.60 | | | $ | (3,241.4 | ) | | $ | 2,762.50 | |
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| | As of December 31, 2013 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
ASSETS | | | | | | | | | | |
Current Assets | | | | | | | | | | | | |
Cash and cash equivalents | | $ | — | | | $ | 3.7 | | | $ | — | | | $ | 58.9 | | | $ | (2.5 | ) | | $ | 60.1 | |
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Accounts receivable, net | | — | | | — | | | 125.7 | | | 251.2 | | | — | | | 376.9 | |
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Inventories | | — | | | — | | | 245.1 | | | 438.3 | | | — | | | 683.4 | |
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Deferred income taxes | | — | | | — | | | 0.2 | | | 6.9 | | | — | | | 7.1 | |
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Prepaid expenses and other current assets | | — | | | 0.5 | | | 16.1 | | | 14.9 | | | — | | | 31.5 | |
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Intercompany receivables | | — | | | 362.4 | | | 378.3 | | | 192.4 | | | (933.1 | ) | | — | |
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Total Current Assets | | — | | | 366.6 | | | 765.4 | | | 962.6 | | | (935.6 | ) | | 1,159.00 | |
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Property, plant and equipment, net | | — | | | — | | | 377.8 | | | 779.9 | | | — | | | 1,157.70 | |
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Intangible assets, net | | — | | | — | | | 27.6 | | | 15.9 | | | — | | | 43.5 | |
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Deferred income taxes | | — | | | — | | | — | | | 45.2 | | | — | | | 45.2 | |
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Other long-term assets | | — | | | 12.3 | | | 3.3 | | | 51.9 | | | — | | | 67.5 | |
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Intercompany receivables | | — | | | 3.4 | | | — | | | — | | | (3.4 | ) | | — | |
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Investments in subsidiaries | | 371.8 | | | 1,510.60 | | | 117.7 | | | — | | | (2,000.1 | ) | | — | |
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Total Assets | | $ | 371.8 | | | $ | 1,892.90 | | | $ | 1,291.80 | | | $ | 1,855.50 | | | $ | (2,939.1 | ) | | $ | 2,472.90 | |
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LIABILITIES AND STOCKHOLDERS’ EQUITY | | | | | | | | | | |
Current Liabilities | | | | | | | | | | | | |
Accounts payable | | $ | — | | | $ | 0.4 | | | $ | 117.1 | | | $ | 188.2 | | | $ | (2.5 | ) | | $ | 303.2 | |
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Accrued liabilities | | — | | | 21.7 | | | 67 | | | 112.2 | | | — | | | 200.9 | |
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Deferred income taxes | | — | | | — | | | — | | | 3.9 | | | — | | | 3.9 | |
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Current portion of long-term debt | | — | | | — | | | 0.5 | | | 7.8 | | | — | | | 8.3 | |
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Intercompany payables | | — | | | 462.4 | | | 371.7 | | | 99 | | | (933.1 | ) | | — | |
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Total Current Liabilities | | — | | | 484.5 | | | 556.3 | | | 411.1 | | | (935.6 | ) | | 516.3 | |
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Long-term debt | | — | | | 1,030.90 | | | 0.8 | | | 197.4 | | | — | | | 1,229.10 | |
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Deferred income taxes | | — | | | — | | | 0.2 | | | 4.2 | | | — | | | 4.4 | |
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Accrued pension benefits | | — | | | — | | | 33.8 | | | 194.7 | | | — | | | 228.5 | |
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Accrued postretirement benefits | | — | | | — | | | 40.9 | | | — | | | — | | | 40.9 | |
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Other long-term liabilities | | — | | | — | | | 32.7 | | | 46.6 | | | — | | | 79.3 | |
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Intercompany payables | | 3.4 | | | — | | | — | | | — | | | (3.4 | ) | | — | |
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Total Long-Term Liabilities | | 3.4 | | | 1,030.90 | | | 108.4 | | | 442.9 | | | (3.4 | ) | | 1,582.20 | |
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Redeemable noncontrolling interest | | — | | | 5.7 | | | — | | | — | | | — | | | 5.7 | |
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Total equity | | 368.4 | | | 371.8 | | | 627.1 | | | 1,001.20 | | | (2,000.1 | ) | | 368.4 | |
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Noncontrolling interest | | — | | | — | | | — | | | 0.3 | | | — | | | 0.3 | |
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Total Liabilities and Equity | | $ | 371.8 | | | $ | 1,892.90 | | | $ | 1,291.80 | | | $ | 1,855.50 | | | $ | (2,939.1 | ) | | $ | 2,472.90 | |
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| | For the three months ended June 30, 2014 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues | | $ | — | | | $ | — | | | $ | 610.1 | | | $ | 649.6 | | | $ | (33.5 | ) | | $ | 1,226.20 | |
|
Cost of sales | | — | | | — | | | 573.7 | | | 594 | | | (33.5 | ) | | 1,134.20 | |
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Gross profit | | — | | | — | | | 36.4 | | | 55.6 | | | — | | | 92 | |
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Selling, general and administrative expenses | | — | | | 0.1 | | | 35.2 | | | 33.6 | | | — | | | 68.9 | |
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Restructuring charges | | — | | | — | | | 0.1 | | | 2.1 | | | — | | | 2.2 | |
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Losses (gains) on derivative financial instruments | | — | | | — | | | 1.9 | | | (0.1 | ) | | — | | | 1.8 | |
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Other operating expense, net | | — | | | — | | | 0.2 | | | 2.4 | | | — | | | 2.6 | |
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Operating (loss) income | | — | | | (0.1 | ) | | (1.0 | ) | | 17.6 | | | — | | | 16.5 | |
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Interest expense, net | | — | | | — | | | 23.1 | | | 3.9 | | | — | | | 27 | |
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Other (income) expense, net | | — | | | — | | | (1.7 | ) | | 1.3 | | | — | | | (0.4 | ) |
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Equity in net loss (earnings) of affiliates | | 17.5 | | | 17.4 | | | (0.6 | ) | | — | | | (34.3 | ) | | — | |
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(Loss) income before income taxes | | (17.5 | ) | | (17.5 | ) | | (21.8 | ) | | 12.4 | | | 34.3 | | | (10.1 | ) |
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Provision for income taxes | | — | | | — | | | — | | | 7 | | | — | | | 7 | |
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Net (loss) income | | (17.5 | ) | | (17.5 | ) | | (21.8 | ) | | 5.4 | | | 34.3 | | | (17.1 | ) |
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Net income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.4 | | | — | | | 0.4 | |
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Net (loss) income attributable to Aleris Corporation | | $ | (17.5 | ) | | $ | (17.5 | ) | | $ | (21.8 | ) | | $ | 5 | | | $ | 34.3 | | | $ | (17.5 | ) |
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Comprehensive (loss) income | | $ | (21.1 | ) | | $ | (21.1 | ) | | $ | (21.8 | ) | | $ | 2 | | | $ | 41.3 | | | $ | (20.7 | ) |
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Comprehensive income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.4 | | | — | | | 0.4 | |
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Comprehensive (loss) income attributable to Aleris Corporation | | $ | (21.1 | ) | | $ | (21.1 | ) | | $ | (21.8 | ) | | $ | 1.6 | | | $ | 41.3 | | | $ | (21.1 | ) |
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| | For the six months ended June 30, 2014 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues | | $ | — | | | $ | — | | | $ | 1,049.80 | | | $ | 1,267.10 | | | $ | (36.5 | ) | | $ | 2,280.40 | |
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Cost of sales | | — | | | — | | | 990.6 | | | 1,159.20 | | | (36.5 | ) | | 2,113.30 | |
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Gross profit | | — | | | — | | | 59.2 | | | 107.9 | | | — | | | 167.1 | |
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Selling, general and administrative expenses | | — | | | 0.1 | | | 65.5 | | | 65.3 | | | — | | | 130.9 | |
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Restructuring charges | | — | | | — | | | 0.7 | | | 2 | | | — | | | 2.7 | |
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(Gains) losses on derivative financial instruments | | — | | | — | | | (1.8 | ) | | 3.1 | | | — | | | 1.3 | |
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Other operating expense, net | | — | | | — | | | 0.7 | | | 2.1 | | | — | | | 2.8 | |
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Operating (loss) income | | — | | | (0.1 | ) | | (5.9 | ) | | 35.4 | | | — | | | 29.4 | |
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Interest expense, net | | — | | | — | | | 45.4 | | | 7.9 | | | — | | | 53.3 | |
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Other (income) expense, net | | — | | | — | | | (5.4 | ) | | 4.6 | | | — | | | (0.8 | ) |
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Equity in net loss (earnings) of affiliates | | 35.1 | | | 35 | | | (1.2 | ) | | — | | | (68.9 | ) | | — | |
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(Loss) income before income taxes | | (35.1 | ) | | (35.1 | ) | | (44.7 | ) | | 22.9 | | | 68.9 | | | (23.1 | ) |
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Provision for income taxes | | — | | | — | | | — | | | 11.3 | | | — | | | 11.3 | |
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Net (loss) income | | (35.1 | ) | | (35.1 | ) | | (44.7 | ) | | 11.6 | | | 68.9 | | | (34.4 | ) |
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Net income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.7 | | | — | | | 0.7 | |
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Net (loss) income attributable to Aleris Corporation | | $ | (35.1 | ) | | $ | (35.1 | ) | | $ | (44.7 | ) | | $ | 10.9 | | | $ | 68.9 | | | $ | (35.1 | ) |
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Comprehensive (loss) income | | $ | (40.7 | ) | | $ | (40.7 | ) | | $ | (44.8 | ) | | $ | 6.1 | | | $ | 80.1 | | | $ | (40.0 | ) |
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Comprehensive income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.7 | | | — | | | 0.7 | |
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Comprehensive (loss) income attributable to Aleris Corporation | | $ | (40.7 | ) | | $ | (40.7 | ) | | $ | (44.8 | ) | | $ | 5.4 | | | $ | 80.1 | | | $ | (40.7 | ) |
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| | For the three months ended June 30, 2013 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues | | $ | — | | | $ | — | | | $ | 510.4 | | | $ | 619.7 | | | $ | (2.5 | ) | | $ | 1,127.60 | |
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Cost of sales | | — | | | — | | | 483.8 | | | 572.1 | | | (2.5 | ) | | 1,053.40 | |
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Gross profit | | — | | | — | | | 26.6 | | | 47.6 | | | — | | | 74.2 | |
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Selling, general and administrative expenses | | — | | | 0.1 | | | 24.1 | | | 34.3 | | | — | | | 58.5 | |
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Restructuring charges | | — | | | — | | | 1.1 | | | 8.4 | | | — | | | 9.5 | |
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Gains on derivative financial instruments | | — | | | — | | | (5.2 | ) | | (4.7 | ) | | — | | | (9.9 | ) |
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Other operating expense, net | | — | | | — | | | 0.3 | | | 0.1 | | | — | | | 0.4 | |
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Operating (loss) income | | — | | | (0.1 | ) | | 6.3 | | | 9.5 | | | — | | | 15.7 | |
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Interest expense, net | | — | | | — | | | 21.9 | | | 2.7 | | | — | | | 24.6 | |
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Other (income) expense, net | | — | | | — | | | (0.3 | ) | | 1.6 | | | — | | | 1.3 | |
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Equity in net loss (earnings) of affiliates | | 11.7 | | | 11.6 | | | (0.5 | ) | | — | | | (22.8 | ) | | — | |
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(Loss) income before income taxes | | (11.7 | ) | | (11.7 | ) | | (14.8 | ) | | 5.2 | | | 22.8 | | | (10.2 | ) |
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Provision for income taxes | | — | | | — | | | — | | | 1.2 | | | — | | | 1.2 | |
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Net (loss) income | | (11.7 | ) | | (11.7 | ) | | (14.8 | ) | | 4 | | | 22.8 | | | (11.4 | ) |
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Net income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.3 | | | — | | | 0.3 | |
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Net income attributable to Aleris Corporation | | $ | (11.7 | ) | | $ | (11.7 | ) | | $ | (14.8 | ) | | $ | 3.7 | | | $ | 22.8 | | | $ | (11.7 | ) |
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Comprehensive (loss) income | | $ | (0.5 | ) | | $ | (0.5 | ) | | $ | (14.5 | ) | | $ | 14.7 | | | $ | 0.6 | | | $ | (0.2 | ) |
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Comprehensive income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.3 | | | — | | | 0.3 | |
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Comprehensive (loss) income attributable to Aleris Corporation | | $ | (0.5 | ) | | $ | (0.5 | ) | | $ | (14.5 | ) | | $ | 14.4 | | | $ | 0.6 | | | $ | (0.5 | ) |
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| | For the six months ended June 30, 2013 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Revenues | | $ | — | | | $ | — | | | $ | 1,018.30 | | | $ | 1,223.60 | | | $ | (4.2 | ) | | $ | 2,237.70 | |
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Cost of sales | | — | | | — | | | 959.2 | | | 1,119.50 | | | (4.2 | ) | | 2,074.50 | |
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Gross profit | | — | | | — | | | 59.1 | | | 104.1 | | | — | | | 163.2 | |
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Selling, general and administrative expenses | | — | | | 0.1 | | | 52 | | | 67.9 | | | — | | | 120 | |
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Restructuring charges | | — | | | — | | | 2.2 | | | 8.1 | | | — | | | 10.3 | |
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Gains on derivative financial instruments | | — | | | — | | | (13.8 | ) | | (5.3 | ) | | — | | | (19.1 | ) |
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Other operating expense (income), net | | — | | | — | | | 0.4 | | | (0.8 | ) | | — | | | (0.4 | ) |
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Operating (loss) income | | — | | | (0.1 | ) | | 18.3 | | | 34.2 | | | — | | | 52.4 | |
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Interest expense (income), net | | — | | | — | | | 44 | | | 1.6 | | | — | | | 45.6 | |
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Other (income) expense, net | | — | | | — | | | (1.1 | ) | | 0.5 | | | — | | | (0.6 | ) |
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Equity in net loss (earnings) of affiliates | | 0.8 | | | 0.7 | | | (1.0 | ) | | — | | | (0.5 | ) | | — | |
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(Loss) income before income taxes | | (0.8 | ) | | (0.8 | ) | | (23.6 | ) | | 32.1 | | | 0.5 | | | 7.4 | |
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Provision for income taxes | | — | | | — | | | — | | | 7.6 | | | — | | | 7.6 | |
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Net (loss) income | | (0.8 | ) | | (0.8 | ) | | (23.6 | ) | | 24.5 | | | 0.5 | | | (0.2 | ) |
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Net income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.6 | | | — | | | 0.6 | |
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Net income (loss) attributable to Aleris Corporation | | $ | (0.8 | ) | | $ | (0.8 | ) | | $ | (23.6 | ) | | $ | 23.9 | | | $ | 0.5 | | | $ | (0.8 | ) |
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Comprehensive (loss) income | | $ | (6.2 | ) | | $ | (6.2 | ) | | $ | (22.3 | ) | | $ | 18 | | | $ | 11.1 | | | $ | (5.6 | ) |
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Comprehensive income attributable to noncontrolling interest | | — | | | — | | | — | | | 0.6 | | | — | | | 0.6 | |
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Comprehensive (loss) income attributable to Aleris Corporation | | $ | (6.2 | ) | | $ | (6.2 | ) | | $ | (22.3 | ) | | $ | 17.4 | | | $ | 11.1 | | | $ | (6.2 | ) |
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| | For the six months ended June 30, 2014 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Net cash provided (used) by operating activities | | $ | 0.4 | | | $ | (81.4 | ) | | $ | 36.4 | | | $ | 35.5 | | | $ | 1.8 | | | $ | (7.3 | ) |
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Investing activities | | | | | | | | | | | | |
Payments for property, plant and equipment | | — | | | — | | | (32.2 | ) | | (46.2 | ) | | — | | | (78.4 | ) |
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Purchase of a business | | — | | | (2.6 | ) | | (77.8 | ) | | (29.6 | ) | | — | | | (110.0 | ) |
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Disbursements of intercompany loans | | — | | | (15.0 | ) | | (10.4 | ) | | (45.0 | ) | | 70.4 | | | — | |
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Repayments from intercompany loans | | — | | | 5 | | | 9.5 | | | 15 | | | (29.5 | ) | | — | |
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Equity contributions in subsidiaries | | — | | | (107.4 | ) | | — | | | — | | | 107.4 | | | — | |
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Other | | — | | | — | | | (0.1 | ) | | 6 | | | — | | | 5.9 | |
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Net cash used by investing activities | | — | | | (120.0 | ) | | (111.0 | ) | | (99.8 | ) | | 148.3 | | | (182.5 | ) |
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Financing activities | | | | | | | | | | | | |
Proceeds from the ABL facility | | — | | | 225 | | | — | | | 15 | | | — | | | 240 | |
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Payments on the ABL facility | | — | | | (54.0 | ) | | — | | | (15.0 | ) | | — | | | (69.0 | ) |
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Proceeds from Zhenjiang revolver | | — | | | — | | | — | | | 11.5 | | | — | | | 11.5 | |
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Net (payments on) proceeds from other long-term debt | | — | | | — | | | (0.3 | ) | | 0.9 | | | — | | | 0.6 | |
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Dividend paid | | — | | | — | | | — | | | (0.7 | ) | | 0.7 | | | — | |
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Proceeds from intercompany loans | | — | | | 45 | | | — | | | 25.4 | | | (70.4 | ) | | — | |
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Repayments on intercompany loans | | — | | | (15.0 | ) | | — | | | (14.5 | ) | | 29.5 | | | — | |
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Proceeds from intercompany equity contributions | | — | | | — | | | 77.8 | | | 29.6 | | | (107.4 | ) | | — | |
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Other | | (0.4 | ) | | (0.3 | ) | | — | | | (0.3 | ) | | — | | | (1.0 | ) |
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Net cash (used) provided by financing activities | | (0.4 | ) | | 200.7 | | | 77.5 | | | 51.9 | | | (147.6 | ) | | 182.1 | |
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Effect of exchange rate differences on cash and cash equivalents | | — | | | — | | | — | | | (0.5 | ) | | — | | | (0.5 | ) |
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Net (decrease) increase in cash and cash equivalents | | — | | | (0.7 | ) | | 2.9 | | | (12.9 | ) | | 2.5 | | | (8.2 | ) |
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Cash and cash equivalents at beginning of period | | — | | | 3.7 | | | — | | | 58.9 | | | (2.5 | ) | | 60.1 | |
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Cash and cash equivalents at end of period | | $ | — | | | $ | 3 | | | $ | 2.9 | | | $ | 46 | | | $ | — | | | $ | 51.9 | |
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| | | | | | | | | | | | | | | | | | | | | | | | |
| | For the six months ended June 30, 2013 |
| | Aleris Corporation (Parent) | | Aleris International, Inc. | | Guarantor Subsidiaries | | Non-Guarantor Subsidiaries | | Eliminations | | Consolidated |
Net cash provided (used) by operating activities | | $ | 315.6 | | | $ | (52.0 | ) | | $ | 58.8 | | | $ | (59.2 | ) | | $ | (314.0 | ) | | $ | (50.8 | ) |
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Investing activities | | | | | | | | | | | | |
Payments for property, plant and equipment | | — | | | — | | | (33.8 | ) | | (108.4 | ) | | — | | | (142.2 | ) |
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Disbursements of intercompany loans | | — | | | (30.0 | ) | | (44.4 | ) | | — | | | 74.4 | | | — | |
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Repayments from intercompany loans | | — | | | 8 | | | 19.4 | | | — | | | (27.4 | ) | | — | |
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Equity contributions in subsidiaries | | — | | | (81.9 | ) | | (4.2 | ) | | — | | | 86.1 | | | — | |
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Other | | — | | | — | | | — | | | 1.6 | | | — | | | 1.6 | |
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Net cash used by investing activities | | — | | | (103.9 | ) | | (63.0 | ) | | (106.8 | ) | | 133.1 | | | (140.6 | ) |
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Financing activities | | | | | | | | | | | | |
Proceeds from Zhenjiang term loans | | — | | | — | | | — | | | 0.2 | | | — | | | 0.2 | |
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Proceeds from Zhenjiang revolver | | — | | | — | | | — | | | 4.1 | | | — | | | 4.1 | |
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Net proceeds from other long-term debt | | — | | | — | | | — | | | (1.8 | ) | | — | | | (1.8 | ) |
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Redemption of noncontrolling interest | | — | | | — | | | — | | | (8.9 | ) | | — | | | (8.9 | ) |
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Dividends paid | | (313.0 | ) | | (313.0 | ) | | — | | | (0.7 | ) | | 313.7 | | | (313.0 | ) |
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Proceeds from intercompany loans | | — | | | — | | | — | | | 74.4 | | | (74.4 | ) | | — | |
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Repayments on intercompany loans | | — | | | — | | | — | | | (27.4 | ) | | 27.4 | | | — | |
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Proceeds from intercompany equity contributions | | — | | | — | | | 4.2 | | | 81.9 | | | (86.1 | ) | | — | |
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Other | | (2.6 | ) | | (0.2 | ) | | — | | | (0.3 | ) | | — | | | (3.1 | ) |
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Net cash (used) provided by financing activities | | (315.6 | ) | | (313.2 | ) | | 4.2 | | | 121.5 | | | 180.6 | | | (322.5 | ) |
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Effect of exchange rate differences on cash and cash equivalents | | — | | | — | | | — | | | (0.5 | ) | | — | | | (0.5 | ) |
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Net decrease in cash and cash equivalents | | — | | | (469.1 | ) | | — | | | (45.0 | ) | | (0.3 | ) | | (514.4 | ) |
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Cash and cash equivalents at beginning of period | | — | | | 472.4 | | | — | | | 121.6 | | | (1.1 | ) | | 592.9 | |
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Cash and cash equivalents at end of period | | $ | — | | | $ | 3.3 | | | $ | — | | | $ | 76.6 | | | $ | (1.4 | ) | | $ | 78.5 | |
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