Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2013 | |
Document And Entity Information [Abstract] | ' |
Document Type | 'S-1 |
Amendment Flag | 'false |
Document Period End Date | 30-Sep-13 |
Trading Symbol | 'BRSS |
Entity Registrant Name | 'GLOBAL BRASS & COPPER HOLDINGS, INC. |
Entity Central Index Key | '0001533526 |
Entity Filer Category | 'Non-accelerated Filer |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 |
In Thousands, unless otherwise specified | |||||||||||
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | $18,088 | $13,862 | $13,018 | ' | ' | $49,537 | ' | ' | ' | $15,523 | $7,832 |
Accounts receivable, net of allowance | 198,473 | 164,317 | 211,638 | 193,310 | 203,740 | 161,715 | ' | ' | ' | ' | ' |
Inventories | 208,778 | 174,378 | ' | 180,004 | 172,677 | 185,947 | 163,492 | 168,735 | 202,515 | 192,623 | ' |
Prepaid expenses and other current assets | 26,591 | 12,141 | ' | ' | ' | 19,912 | 25,746 | 22,201 | 31,101 | 38,441 | ' |
Deferred income taxes | 32,122 | 33,465 | 26,361 | 29,343 | 28,119 | 29,027 | 27,716 | 27,053 | 28,394 | 29,312 | ' |
Income tax receivable, net | 625 | 1,300 | 474 | 4,520 | 1,405 | 5,046 | 3,260 | 1,804 | 2,993 | 2,276 | ' |
Total current assets | 484,677 | 399,463 | 447,298 | 430,404 | 497,339 | 451,184 | 464,098 | 473,231 | 510,401 | 439,564 | ' |
Property, plant and equipment, net | 78,137 | 71,127 | ' | ' | ' | 57,556 | 52,067 | 47,780 | 42,587 | ' | ' |
Investment in joint venture | 2,184 | 2,972 | ' | ' | ' | 3,507 | ' | ' | ' | ' | ' |
Goodwill | 4,399 | 4,399 | ' | ' | ' | 4,399 | ' | ' | ' | ' | ' |
Intangible assets, net | 762 | 839 | ' | ' | ' | 951 | ' | ' | ' | ' | ' |
Deferred income taxes | 5,736 | 6,138 | 17,040 | 19,657 | 19,798 | 19,970 | 31,257 | 31,921 | 32,520 | 34,254 | ' |
Other noncurrent assets | 16,620 | 17,755 | ' | ' | ' | 11,173 | ' | ' | ' | ' | ' |
Total assets | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' | ' | 31,880 | ' | ' | ' | ' | ' |
Accounts payable | 105,311 | 81,577 | ' | 104,585 | 111,425 | 77,888 | 107,959 | ' | ' | ' | ' |
Accrued liabilities | 59,639 | 48,424 | 59,604 | 40,574 | 48,364 | 48,604 | 59,291 | 63,314 | 72,592 | 84,992 | ' |
Accrued interest | 12,448 | 3,287 | ' | ' | ' | 4,069 | ' | ' | ' | ' | ' |
Income tax payable | 156 | 248 | ' | ' | ' | 300 | ' | ' | ' | ' | ' |
Total current liabilities | 177,554 | 133,536 | 180,595 | 148,507 | 195,457 | 162,741 | 175,044 | 183,986 | 201,326 | 170,999 | ' |
Long-term debt | 397,500 | 389,522 | ' | ' | ' | 271,698 | ' | ' | ' | ' | ' |
Other noncurrent liabilities | 26,312 | 27,436 | ' | ' | ' | 31,641 | ' | ' | ' | ' | ' |
Total liabilities | 601,366 | 550,494 | 610,727 | 605,174 | 498,419 | 466,080 | 507,408 | 521,497 | 567,463 | 509,252 | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit)/equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, value | 211 | 211 | ' | ' | ' | 211 | ' | ' | ' | ' | ' |
Additional paid-in capital | 30,260 | ' | ' | ' | ' | 11,091 | ' | ' | ' | ' | ' |
(Accumulated deficit)/Retained earnings | -43,948 | -48,153 | -55,654 | -66,686 | 82,711 | 68,718 | 45,128 | 37,845 | 27,644 | 13,586 | ' |
Accumulated other comprehensive income | 761 | 1,466 | ' | ' | ' | 1,923 | ' | ' | ' | ' | ' |
Receivable from stockholder | ' | -4,875 | ' | ' | ' | -2,451 | ' | ' | ' | ' | ' |
Total Global Brass and Copper Holdings, Inc. stockholders' (deficit)/equity | -12,716 | -51,351 | -58,499 | -69,309 | 93,247 | 79,492 | 56,382 | 49,347 | 39,907 | 25,564 | ' |
Noncontrolling interest | 3,865 | 3,550 | ' | ' | ' | 3,168 | ' | ' | ' | ' | ' |
Total (deficit) / equity | -8,851 | -47,801 | -55,058 | -65,951 | 96,486 | 82,660 | 59,555 | 52,478 | 42,940 | 28,469 | 24,859 |
Total liabilities and (deficit) / equity | $592,515 | $502,693 | $555,669 | $539,223 | $594,905 | $548,740 | $566,963 | $573,975 | $610,402 | $537,721 | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, except Share data, unless otherwise specified | |||
Statement Of Financial Position [Abstract] | ' | ' | ' |
Accounts receivable, allowance | $1,506 | $1,408 | $2,067 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 80,000,000 | 80,000,000 | 80,000,000 |
Common stock, shares issued | 21,110,000 | 21,110,000 | 21,110,000 |
Common stock, shares outstanding | 21,110,000 | 21,110,000 | 21,110,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | ' | ' | $1,345,678 | $1,254,347 | ' | $1,650,520 | $1,779,143 | $1,658,729 | |
Cost of sales | ' | 349,580 | 369,858 | 393,437 | 310,141 | 401,423 | 429,020 | 442,889 | 763,295 | 871,909 | 1,201,815 | 1,112,875 | 1,273,332 | 1,467,334 | 1,583,473 | 1,496,695 | ||||||||
Gross profit | 41,714 | [2] | 44,397 | [1] | 47,121 | [1] | 49,954 | [1] | 63,336 | [1],[3] | 38,077 | [1] | 44,231 | [1] | 50,026 | [1] | 97,075 | 94,257 | 143,863 | 141,472 | 132,334 | 183,186 | 195,670 | 162,034 |
Selling, general and administrative expenses (including non-cash profits interest expense) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92,622 | 73,241 | ' | 92,641 | 69,391 | 68,857 | ||||||||
Operating income | ' | 27,044 | 9,156 | 32,031 | 46,386 | 20,979 | 27,748 | 31,166 | 41,187 | 58,914 | 51,241 | 68,231 | 79,893 | 90,545 | 126,279 | 93,177 | ||||||||
Interest expense | ' | ' | ' | ' | 9,618 | 9,954 | 10,988 | 9,450 | ' | 20,438 | 29,938 | 29,894 | 30,392 | 39,727 | 40,010 | 25,076 | ||||||||
Third party interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,613 | ||||||||
Related party interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,463 | ||||||||
Loss on extinguishment of debt | ' | ' | 19,612 | ' | ' | ' | ' | ' | ' | ' | ' | 19,612 | ' | 19,612 | ' | ' | ||||||||
Other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 256 | 172 | ' | 121 | 432 | 810 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | 12,532 | 17,645 | [1] | -21,063 | [1],[4] | 21,971 | [1] | 35,848 | [1] | 10,779 | [1] | 17,498 | [1] | 21,712 | [1] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |
Provision for income taxes | ' | 6,769 | -971 | 8,198 | 12,613 | 3,726 | 7,258 | 7,840 | 7,227 | 15,098 | 17,762 | 13,996 | 18,824 | 19,185 | 31,437 | 26,676 | ||||||||
Income (loss) before equity income | ' | 10,876 | -20,092 | 13,773 | 23,235 | 7,053 | 10,240 | 13,872 | -6,319 | 24,112 | 3,285 | 4,557 | 31,165 | 11,900 | 54,400 | 40,615 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148 | 736 | ' | 995 | 888 | 1,530 | ||||||||
Net income (loss) | 7,602 | 11,137 | [1] | -19,891 | [1] | 14,047 | [1] | 23,570 | [1] | 7,280 | [1] | 10,268 | [1] | 14,170 | [1] | -5,844 | 24,438 | 4,433 | 5,293 | 31,718 | 12,895 | 55,288 | 42,145 | |
Less: Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228 | 273 | ' | 374 | 156 | 512 | ||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | $7,501 | $11,032 | [1] | ($20,005) | [1] | $13,993 | [1] | $23,590 | [1] | $7,283 | [1] | $10,201 | [1] | $14,058 | [1] | ($6,012) | $24,259 | $4,205 | $5,020 | $31,542 | $12,521 | $55,132 | $41,633 | |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | $0.36 | $0.52 | [1] | ($0.95) | [1] | $0.66 | [1] | $1.12 | [1] | $0.35 | [1] | $0.48 | [1] | $0.67 | [1] | ($0.28) | $1.15 | $0.20 | $0.24 | $1.49 | $0.59 | $2.61 | $1.97 | |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | $0.24 | ' | ' | ' | ' | ||||||||
Weighted average common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,110,000 | 21,110,000 | ' | 21,110,000 | 21,110,000 | 21,110,000 | ||||||||
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,134,169 | 21,110,000 | ' | ' | ' | ' | ||||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||
[2] | Includes $4,775 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[3] | Includes $15,236 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' |
Non-cash profits interest expense | $19,517 | $29,271 | $19,517 | $19,517 | $885 | $3,452 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' | ' |
Net income (loss) | $4,433 | $5,293 | $12,895 | $55,288 | $42,145 |
Other comprehensive income (loss): | ' | ' | ' | ' | ' |
Foreign currency translation adjustment | -1,095 | -199 | -512 | 522 | 793 |
Less: Income tax expense (benefit) on other comprehensive income (loss) | -477 | -69 | -63 | 53 | 280 |
Comprehensive income (loss) | 3,815 | 5,163 | 12,446 | 55,757 | 42,658 |
Less: Comprehensive income attributable to noncontrolling interest | 315 | 273 | 382 | 263 | 583 |
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | $3,500 | $4,890 | $12,064 | $55,494 | $42,075 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in (Deficit)/Equity (USD $) | Total | Common stock [Member] | Additional paid-in capital [Member] | (Accumulated deficit)/ Retained Earnings [Member] | Accumulated other comprehensive income [Member] | Receivables from stockholder [Member] | Total Global Brass and Copper Holdings, Inc. stockholder's equity [Member] | Noncontrolling interest [Member] |
In Thousands | ||||||||
Stockholders' Equity, Beginning Balance at Jan. 01, 2010 | $24,859 | $211 | $20,000 | $1,207 | $1,119 | ' | $22,537 | $2,322 |
Profits interest compensation | 3,452 | ' | 3,452 | ' | ' | ' | 3,452 | ' |
Distribution to shareholder | -42,500 | ' | -13,246 | -29,254 | ' | ' | -42,500 | ' |
Net income (loss) | 42,145 | ' | ' | 41,633 | ' | ' | 41,633 | 512 |
Other comprehensive (loss) income, net of tax | 513 | ' | ' | ' | 442 | ' | 442 | 71 |
Stockholders' Equity, Ending Balance at Dec. 31, 2010 | 28,469 | 211 | 10,206 | 13,586 | 1,561 | ' | 25,564 | 2,905 |
Profits interest compensation | 885 | ' | 885 | ' | ' | ' | 885 | ' |
(Amounts due) \ payments from stockholder | -2,451 | ' | ' | ' | ' | -2,451 | -2,451 | ' |
Net income (loss) | 55,288 | ' | ' | 55,132 | ' | ' | 55,132 | 156 |
Other comprehensive (loss) income, net of tax | 469 | ' | ' | ' | 362 | ' | 362 | 107 |
Stockholders' Equity, Ending Balance at Dec. 31, 2011 | 82,660 | 211 | 11,091 | 68,718 | 1,923 | -2,451 | 79,492 | 3,168 |
Profits interest compensation | 19,517 | ' | 19,517 | ' | ' | ' | 19,517 | ' |
Distribution to shareholder | -160,000 | ' | -30,608 | -129,392 | ' | ' | -160,000 | ' |
(Amounts due) \ payments from stockholder | -2,398 | ' | ' | ' | ' | -2,398 | -2,398 | ' |
Net income (loss) | 5,293 | ' | ' | 5,020 | ' | ' | 5,020 | 273 |
Other comprehensive (loss) income, net of tax | -130 | ' | ' | ' | -130 | ' | -130 | ' |
Stockholders' Equity, Ending Balance at Sep. 30, 2012 | -55,058 | 211 | ' | -55,654 | 1,793 | -4,849 | -58,499 | 3,441 |
Stockholders' Equity, Beginning Balance at Dec. 31, 2011 | 82,660 | ' | 11,091 | 68,718 | 1,923 | -2,451 | 79,492 | 3,168 |
Profits interest compensation | 19,517 | ' | 19,517 | ' | ' | ' | 19,517 | ' |
Distribution to shareholder | -160,000 | ' | -30,608 | -129,392 | ' | ' | -160,000 | ' |
(Amounts due) \ payments from stockholder | -2,424 | ' | ' | ' | ' | -2,424 | -2,424 | ' |
Net income (loss) | 12,895 | ' | ' | 12,521 | ' | ' | 12,521 | 374 |
Other comprehensive (loss) income, net of tax | -449 | ' | ' | ' | -457 | ' | -457 | 8 |
Stockholders' Equity, Ending Balance at Dec. 31, 2012 | -47,801 | 211 | ' | -48,153 | 1,466 | -4,875 | -51,351 | 3,550 |
Profits interest compensation | 29,271 | ' | 29,271 | ' | ' | ' | 29,271 | ' |
Share-based compensation | 989 | ' | 989 | ' | ' | ' | 989 | ' |
(Amounts due) \ payments from stockholder | 4,875 | ' | ' | ' | ' | 4,875 | 4,875 | ' |
Net income (loss) | 4,433 | ' | ' | 4,205 | ' | ' | 4,205 | 228 |
Other comprehensive (loss) income, net of tax | -618 | ' | ' | ' | -705 | ' | -705 | 87 |
Stockholders' Equity, Ending Balance at Sep. 30, 2013 | ($8,851) | $211 | $30,260 | ($43,948) | $761 | ' | ($12,716) | $3,865 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net income (loss) | $4,433 | $5,293 | $12,895 | $55,288 | $42,145 |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: | ' | ' | ' | ' | ' |
Lower of cost or market adjustment to inventory | 318 | 302 | 302 | ' | ' |
Mark to market on commodity contracts | 1,062 | -1,473 | -1,588 | 1,095 | 11,984 |
Mark to market on interest rate cap agreements | 1 | 156 | 156 | 1,851 | -800 |
Depreciation | 6,023 | 4,805 | 6,822 | 4,560 | 2,772 |
Amortization of intangible assets | 78 | 86 | 112 | 199 | 199 |
Amortization of debt discount and issuance costs | 1,857 | 3,961 | 4,564 | 4,701 | 2,299 |
Term loan call premium | ' | ' | -6,394 | ' | ' |
Loss on debt extinguishment | ' | 19,612 | 19,612 | ' | ' |
Profits interest compensation expense | 29,271 | 19,517 | 19,517 | 885 | 3,452 |
Share-based compensation expense | 989 | ' | ' | ' | ' |
Provision for bad debts, net of reductions | 73 | -627 | -814 | -4,171 | 1,324 |
Deferred income taxes | 691 | 2,273 | 5,248 | 10,491 | 6,041 |
(Gain) loss on sale of property, plant and equipment | 3 | -9 | -17 | -69 | -39 |
Equity income, net of tax | -1,148 | -736 | -995 | -888 | -1,530 |
Distributions from equity method investment | 452 | 500 | 1,000 | 500 | 566 |
Change in assets and liabilities: | ' | ' | ' | ' | ' |
Accounts receivable | -33,959 | -48,917 | -1,540 | 3,848 | -20,241 |
Inventories | -34,610 | 1,343 | 11,512 | 6,592 | 8,656 |
Prepaid expenses and other current assets | -14,988 | 5,440 | 4,676 | 18,264 | -8,308 |
Accounts payable | 23,893 | 30,787 | 3,682 | -50 | 14,856 |
Accrued liabilities | 10,676 | 12,083 | 850 | -36,988 | 341 |
Accrued interest | 9,160 | 8,127 | -782 | -151 | 2,507 |
Income taxes, net | 574 | 2,702 | 3,685 | -2,674 | 855 |
Other, net | -317 | -6,973 | -589 | 1,565 | 2,335 |
Net cash (used in) provided by operating activities | 4,532 | 58,252 | 81,914 | 64,848 | 69,414 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital expenditures | -13,205 | -11,360 | -20,408 | -22,440 | -11,927 |
Proceeds from sale of property, plant and equipment | 174 | 25 | 32 | 97 | 39 |
Net cash used in investing activities | -13,031 | -11,335 | -20,376 | -22,343 | -11,888 |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Deferred financing fees | ' | -12,981 | -12,981 | -1,675 | -15,131 |
Proceeds from senior secured notes | ' | 375,000 | 375,000 | ' | ' |
Proceeds from term loan, net of discount | ' | ' | ' | ' | 305,550 |
Payments on term loan | ' | -310,875 | -310,875 | -3,300 | -825 |
Borrowings on ABL Facility | 337,236 | 142,400 | 204,275 | 168,021 | 1,096,578 |
Payments on ABL Facility | -329,258 | -113,900 | -189,753 | -168,021 | -1,272,197 |
Principal payments under capital lease obligation | ' | ' | ' | -916 | -52 |
Payments on related party debt | ' | ' | ' | ' | -119,805 |
Distribution to shareholder | ' | -160,000 | -160,000 | ' | -42,500 |
Net payment (amounts due) from stockholder | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Cash overdrafts | ' | ' | ' | ' | -1,228 |
Net cash provided by (used in) financing activities | 12,853 | -82,754 | -96,758 | -8,342 | -49,610 |
Effect of foreign currency exchange rates | -128 | -682 | -455 | -149 | -225 |
Net (decrease) increase in cash | 4,226 | -36,519 | -35,675 | 34,014 | 7,691 |
Cash at beginning of period | 13,862 | 49,537 | 49,537 | 15,523 | 7,832 |
Cash at end of period | 18,088 | 13,018 | 13,862 | 49,537 | 15,523 |
Cash paid during the period for: | ' | ' | ' | ' | ' |
Interest, net of amount capitalized | ' | ' | 35,788 | 33,580 | 19,626 |
Income taxes, net of refunds | ' | ' | 10,235 | 24,017 | 19,657 |
Noncash investing activities | ' | ' | ' | ' | ' |
Capital lease obligations | ' | ' | ' | ' | $968 |
Basis_of_Presentation_and_Prin
Basis of Presentation and Principles of Consolidation | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation and Principles of Consolidation | ' | ||||||||||||
1 | Basis of Presentation and Principles of Consolidation | ||||||||||||
Global Brass and Copper Holdings, Inc. (“Holdings” or the “Company”) was incorporated in Delaware, on October 10, 2007. Holdings, through its wholly-owned principal operating subsidiary, Global Brass and Copper, Inc. (“GBC”), commenced commercial operations on November 19, 2007 through the acquisition of the metals business from Olin Corporation. GBC is a leading, value-added converter, fabricator, distributor and processor of specialized copper and brass products in North America. On May 29, 2013, the Company completed its initial public offering of 8,050,000 shares of its common stock (the “initial public offering” or “IPO”). The shares began trading on the New York Stock Exchange on May 23, 2013 under the ticker symbol “BRSS”. Halkos Holdings, LLC (“Halkos”), the sole stockholder of the Company prior to the IPO, sold all of the shares in the initial public offering and received all of the net proceeds from the offering. After giving effect to the IPO, Halkos beneficially owned approximately 61.5% of the outstanding common stock of the Company. Halkos’s beneficial ownership percentage remained approximately the same as of September 30, 2013. On October 1, 2013, the Company completed its follow-on public offering of 5,750,000 shares of its common stock (the “follow-on public offering”). Halkos sold all of the shares in the follow-on public offering and received all of the net proceeds from the offering. After giving effect to the follow-on public offering, Halkos beneficially owns approximately 34.4% of the outstanding common stock of the Company. KPS Capital Partners, L.P. and its affiliates (“KPS”) are the majority shareholders of Halkos. | |||||||||||||
The Company is operated and managed through three distinct divisions which are also the Company’s reportable segments: Olin Brass, Chase Brass (“Chase”) and A.J. Oster (“Oster”). | |||||||||||||
These consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and its majority-owned subsidiaries in which the Company has a controlling interest. All significant intercompany accounts and transactions relative to wholly- and majority-owned subsidiaries have been eliminated. The equity method is used to account for investments in affiliated companies, that are 20% to 50% owned where the Company does not hold a controlling voting interest and does not direct the matters that most significantly impact the investee’s operations. | |||||||||||||
The accompanying unaudited interim financial statements include all normal recurring adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. The December 31, 2012 consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S. GAAP”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. | |||||||||||||
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, it requires management to make estimates and assumptions that affect the reported amount of net sales and expenses during the reporting periods. Actual amounts could differ from those estimates. | |||||||||||||
Results of operations for the interim periods presented are not necessarily indicative of results which may be expected for any other interim period or for the year as a whole. There have been no significant changes to the Company’s significant accounting policies during the nine months ended September 30, 2013. These interim financial statements should be read in conjunction with the December 31, 2012 audited financial statements of the Company. | |||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||
During 2012, the Company identified immaterial errors in previously issued consolidated financial statements related to the three and nine months ended September 30, 2012, which were corrected in the period identified, including: | |||||||||||||
1 | An error in the accounting for raw material in-transit was identified, which resulted in an overstatement of cost of sales of $811 and $423 for the three months and nine months ended September 30, 2012, respectively. | ||||||||||||
2 | Duplicate accruals for the receipt of raw material were identified, which resulted in an understatement of cost of sales of $1,396 and $389 for the three and nine months ended September 30, 2012, respectively. | ||||||||||||
The Company assessed the materiality of all errors, individually and in the aggregate, on previously issued consolidated financial statements and concluded that the errors were not material to any of the Company’s previously issued financial statements. | |||||||||||||
A summary of the revisions to the consolidated financial statements as of September 30, 2012 and for the three and nine months ended September 30, 2012 is as follows: | |||||||||||||
As | Adjustment | As Revised | |||||||||||
Previously | |||||||||||||
Reported | |||||||||||||
Consolidated Statement of Operations | |||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||
Cost of sales | $ | 348,995 | $ | 585 | $ | 349,580 | |||||||
Gross profit | 44,982 | (585 | ) | 44,397 | |||||||||
Operating income | 27,629 | (585 | ) | 27,044 | |||||||||
Income before provision for income taxes and equity income | 18,230 | (585 | ) | 17,645 | |||||||||
Provision for income taxes | 6,670 | 99 | 6,769 | ||||||||||
Income before equity income | 11,560 | (684 | ) | 10,876 | |||||||||
Net income | 11,821 | (684 | ) | 11,137 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 11,716 | (684 | ) | 11,032 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.55 | $ | (0.03 | ) | $ | 0.52 | ||||||
Consolidated Statement of Operations | |||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Cost of sales | $ | 1,112,909 | $ | (34 | ) | $ | 1,112,875 | ||||||
Gross profit | 141,438 | 34 | 141,472 | ||||||||||
Operating income | 68,197 | 34 | 68,231 | ||||||||||
Income before provision for income taxes and equity income | 18,519 | 34 | 18,553 | ||||||||||
Provision for income taxes | 13,891 | 105 | 13,996 | ||||||||||
Income before equity income | 4,628 | (71 | ) | 4,557 | |||||||||
Net income | 5,364 | (71 | ) | 5,293 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | |||||||||
Net income attributable to Global Brass and | |||||||||||||
Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.24 | $ | — | $ | 0.24 | |||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 11,821 | $ | (684 | ) | $ | 11,137 | ||||||
Comprehensive income | 11,814 | (684 | ) | 11,130 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 11,731 | (684 | ) | 11,047 | |||||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | ||||||
Comprehensive income | 5,234 | (71 | ) | 5,163 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 4,961 | (71 | ) | 4,890 | |||||||||
Consolidated Statement of Changes in Deficit | |||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | |||||||||
Accumulated deficit—Balance, September 30, 2012 | (56,083 | ) | 429 | (55,654 | ) | ||||||||
Total Global Brass and Copper Holdings, Inc. stockholders’ deficit—Balance, September 30, 2012 | (58,928 | ) | 429 | (58,499 | ) | ||||||||
Total deficit—Balance, September 30, 2012 | (55,487 | ) | 429 | (55,058 | ) | ||||||||
Recently Issued and Recently Adopted Accounting Pronouncements | |||||||||||||
In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This guidance requires entities to provide disclosures about items that are required by U.S. GAAP to be reclassified from accumulated other comprehensive income (“AOCI”) to net income in their entirety in the same reporting period. The disclosure includes the amount of the reclassification and identifies the line item on the statement where net income is presented that is affected by the reclassification. For other items reclassified from AOCI, the disclosure cross-references to other disclosures where additional details about their effects are disclosed. This guidance is effective for reporting periods beginning after December 15, 2012. The adoption of this guidance in the first quarter of 2013 did not have a material effect on the Company’s consolidated financial statements and disclosures. | |||||||||||||
In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. This guidance requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This guidance does not amend existing guidance on when it is appropriate to offset. In January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which limits the scope of ASU 2011-11 to derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and lending arrangements. The guidance is effective for annual periods beginning January 1, 2013 and interim periods within those annual periods. The Company adopted this guidance in the first quarter of 2013 and has included the required disclosures in note 10, “Derivative Contracts”. |
Inventories
Inventories | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
Inventories | ' | ' | ||||||||||||||||
2 | Inventories | 3 | Inventories | |||||||||||||||
The Company’s inventories were as follows: | The Company’s inventories are as follows: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Raw materials and supplies | $ | 37,766 | $ | 21,320 | ||||||||||||
Raw materials and supplies | $ | 34,646 | $ | 37,766 | Work-in-process | 69,286 | 93,555 | |||||||||||
Work-in-process | 99,119 | 69,286 | Finished goods | 67,326 | 71,072 | |||||||||||||
Finished goods | 75,013 | 67,326 | ||||||||||||||||
Total inventories | $ | 174,378 | $ | 185,947 | ||||||||||||||
Total inventories | $ | 208,778 | $ | 174,378 | ||||||||||||||
During 2012, 2011 and 2010, inventory quantities were reduced resulting in a liquidation of LIFO inventory layers carried at lower costs prevailing in prior years as compared with current costs. In 2012, the effect of this reduction of inventory decreased cost of sales by $4,775 and increased net income attributable to Global Brass and Copper Holdings, Inc. by $2,908. In 2011, the effect of this reduction of inventory decreased cost of sales by $15,236 and increased net income attributable to Global Brass and Copper Holdings, Inc. by $9,291. In 2010, the effect of this reduction of inventory decreased cost of sales by $21,009 and increased net income by $12,862. If all inventories had been valued at period-end market values, inventories would have been approximately $319,282 and $347,840 at December 31, 2012 and December 31, 2011, respectively. | ||||||||||||||||||
Inventories include costs attributable to direct labor and manufacturing overhead but are primarily comprised of raw material costs. The material component of inventories that is valued on a last-in, first-out (“LIFO”) basis comprises approximately 73% and 70% of total inventory at September 30, 2013 and December 31, 2012, respectively. Other manufactured inventories, including the non-material components and certain non-U.S. inventories, are valued on a first-in, first-out (“FIFO”) basis. During the nine months ended September 30, 2013, the Company reduced the recorded value of inventory by $318. This non-cash, lower of cost or market adjustment was recorded in cost of sales in the accompanying consolidated statement of operations for the nine months ended September 30, 2013. | During 2012, the Company reduced the recorded value of inventory by $302. This non-cash, lower of cost or market adjustment was recorded in cost of sales in the accompanying consolidated statement of operations. | |||||||||||||||||
If all inventories had been valued at period-end market values, inventories would have been approximately $331,213 and $319,282 at September 30, 2013 and December 31, 2012, respectively. |
Prepaid_Expenses_and_Other_Cur
Prepaid Expenses and Other Current Assets | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Prepaid Expenses and Other Current Assets | ' | ' | ||||||||||||||||
3 | Prepaid Expenses and Other Current Assets | 4 | Prepaid Expenses and Other Current Assets | |||||||||||||||
The Company’s prepaid expenses and other current assets were as follows: | The Company’s prepaid expenses and other current assets are as follows: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Collateral on deposit—commodity derivative contracts | $ | 767 | $ | 4,622 | ||||||||||||
Collateral on deposit—commodity derivative contracts | $ | 1,861 | $ | 767 | Commodity derivative contracts | 548 | — | |||||||||||
Commodity derivative contracts | 5 | 548 | Deferred financing fees, net | — | 3,646 | |||||||||||||
Deferred expense | 13,018 | — | Loss fund payments—workers’ compensation | 6,968 | 7,538 | |||||||||||||
Loss fund payments—workers’ compensation | 6,466 | 6,968 | Prepaid insurance | 1,261 | 1,974 | |||||||||||||
Prepaid insurance | 1,705 | 1,261 | Other | 2,597 | 2,132 | |||||||||||||
Prepaid tooling | 1,926 | 764 | ||||||||||||||||
Other | 1,610 | 1,833 | Total prepaid expenses and other current assets | $ | 12,141 | $ | 19,912 | |||||||||||
Total prepaid expenses and other current assets | $ | 26,591 | $ | 12,141 |
Goodwill
Goodwill | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | |||
Goodwill | ' | |||
4 | Goodwill | |||
On January 31, 2008, the Company, through its Chase reportable segment, acquired certain assets of the brass business of Bolton Metals Product Company (“Bolton”). As of September 30, 2013 and December 31, 2012, the carrying value of goodwill was $4,399. All goodwill is assigned to Chase, which is the Company’s applicable reporting unit for purposes of testing goodwill impairment. The Bolton acquisition is treated as an asset acquisition for tax purposes. As of September 30, 2013, $1,973 of goodwill is expected to be deductible for tax purposes. |
Investment_in_Joint_Venture
Investment in Joint Venture | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ' | ||||||
Investment in Joint Venture | ' | ' | ||||||
5 | Investment in Joint Venture | 7 | Investment in Joint Venture | |||||
The Company owns a 50% interest in Dowa—Olin Metal Corporation (“Dowa”), a joint venture based in Japan. The Company accounts for Dowa under the equity method of accounting. Due to the timing of the receipt of available financial information, the results of Dowa are recorded on a one-month lag basis. | In November 2007, the equity investment in Dowa, which was purchased as part of the metals business acquired from Olin Corporation, was recorded at a carrying value of zero as a result of the bargain purchase event recognized under the purchase method of accounting for the acquisition, creating a negative basis difference of $9,416. Based on management’s estimate as to the underlying commercial utility of the alloys that Dowa manufactured and sold at the date of acquisition, the negative basis difference is being accreted on a straight-line basis over a 13-year period as an increase to equity earnings. Accretion of the negative basis difference of $724 was reflected in equity income, net of tax in the accompanying consolidated statements of operations for each of the years ended December 31, 2012, 2011 and 2010. At December 31, 2012 and 2011, the remaining negative basis difference was $5,735 and $6,459, respectively. | |||||||
In November 2007, the equity investment in Dowa, which was purchased as part of the metals business acquired from Olin Corporation, was recorded at a carrying value of zero as a result of the bargain purchase event recognized under the purchase method of accounting for the acquisition, creating a negative basis difference of $9,416. Based on management’s estimate as to the underlying commercial utility of the alloys that Dowa manufactured and sold at the date of acquisition, the negative basis difference is being accreted on a straight-line basis over a 13-year period as an increase to equity earnings. Accretion of the negative basis difference of $543 was reflected in equity income, net of tax in the accompanying consolidated statements of operations for each of the nine months ended September 30, 2013 and 2012. At September 30, 2013 and December 31, 2012, the remaining negative basis difference was $5,192 and $5,735, respectively. | During the years ended December 31, 2012, 2011 and 2010, the Company received cash dividends from Dowa of $1,000, $500 and $566, respectively, which were recorded as reductions in the Company’s investment in Dowa. During the years ended December 31, 2012, 2011 and 2010, the Company recorded $995, $888 and $1,530, respectively, of equity income, net of tax, including $724 of accretion of the negative basis difference in each year. The undistributed earnings of Dowa in GBC’s retained earnings as of December 31, 2012 and 2011 totaled $62 and $67, respectively. | |||||||
During the nine months ended September 30, 2013 and 2012, the Company received cash dividends from Dowa of $452 and $500, respectively, which were recorded as a reduction in the Company’s investment in Dowa. During the nine months ended September 30, 2013 and 2012, the Company recorded equity income, net of tax of $1,148 and $736, respectively, including $543 | ||||||||
of accretion of the negative basis difference in each period. The undistributed earnings of Dowa in GBC’s retained earnings as of September 30, 2013 and December 31, 2012 totaled $758 and $62, respectively. |
Other_Noncurrent_Assets
Other Noncurrent Assets | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Other Noncurrent Assets | ' | ' | ||||||||||||||||
6 | Other Noncurrent Assets | 8 | Other Noncurrent Assets | |||||||||||||||
Other noncurrent assets consisted of the following: | Other noncurrent assets consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Deferred financing fees, net | $ | 17,082 | $ | 9,779 | ||||||||||||
Deferred financing fees, net | $ | 15,225 | $ | 17,082 | Utility and other deposits | 668 | 1,060 | |||||||||||
Utility and other deposits | 1,395 | 668 | Interest rate cap agreements | 1 | 157 | |||||||||||||
Interest rate cap agreements | — | 1 | Other | 4 | 177 | |||||||||||||
Other | — | 4 | ||||||||||||||||
Total other noncurrent assets | $ | 17,755 | $ | 11,173 | ||||||||||||||
Total other noncurrent assets | $ | 16,620 | $ | 17,755 | ||||||||||||||
As described in note 10, “Financing,” on June 1, 2012, GBC (i) issued $375,000 in aggregate principal amount of 9.50% senior secured notes due 2019 (the “Senior Secured Notes”), (ii) amended the agreement governing its asset-based revolving loan facility (the “2010 ABL Facility”, and, as currently amended, the “ABL Facility”), and (iii) repaid and retired its senior secured term loan credit facility (the “Term Loan Facility”) under the Credit and Guaranty Agreement dated August 18, 2010, as amended. The Company refers to these transactions as the “Term Loan Refinancing”. | ||||||||||||||||||
As a result of the Term Loan Refinancing described above, the Company incurred and deferred debt issuance costs of $12,981, of which $10,196 was related to the Senior Secured Notes and $2,785 was for the ABL Facility. Additionally, $1,783 of unamortized debt issuance costs and $1,234 of unamortized issuance discount relating to the retired Term Loan Facility is being amortized over the term of the Senior Secured Notes in accordance with ASC 470-50, Modifications and Extinguishments. |
Accrued_Liabilities
Accrued Liabilities | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Payables And Accruals [Abstract] | ' | ' | ||||||||||||||||
Accrued Liabilities | ' | ' | ||||||||||||||||
7 | Accrued Liabilities | 9 | Accrued Liabilities | |||||||||||||||
Accrued liabilities consisted of the following: | Accrued liabilities consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Commodity derivative contracts | $ | — | $ | 1,825 | ||||||||||||
Personnel expense | $ | 20,685 | $ | 20,872 | Personnel expense | 20,872 | 20,548 | |||||||||||
Workers’ compensation | 14,383 | 15,754 | Workers’ compensation | 15,754 | 15,653 | |||||||||||||
Deferred revenue | 13,018 | — | Professional fees | 2,145 | 2,623 | |||||||||||||
Professional fees | 1,826 | 2,145 | Insurance | 2,253 | 1,689 | |||||||||||||
Insurance | 2,358 | 2,253 | Utilities | 1,844 | 1,531 | |||||||||||||
Utilities | 1,877 | 1,844 | Taxes | 1,745 | 1,471 | |||||||||||||
Taxes | 1,371 | 1,745 | Other | 3,811 | 3,264 | |||||||||||||
Tooling | 737 | 686 | ||||||||||||||||
Commodity derivative contracts | 357 | — | Total accrued liabilities | $ | 48,424 | $ | 48,604 | |||||||||||
Other | 3,027 | 3,125 | ||||||||||||||||
Total accrued liabilities | $ | 59,639 | $ | 48,424 | ||||||||||||||
Financing
Financing | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
Financing | ' | ' | ||||||||||||||||
8 | Financing | 10 | Financing | |||||||||||||||
Long-term debt consisted of the following: | Long-term debt consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | ABL Facility | $ | 14,522 | $ | — | ||||||||||||
ABL Facility | $ | 22,500 | $ | 14,522 | Senior Secured Notes | 375,000 | — | |||||||||||
Senior Secured Notes | 375,000 | 375,000 | Term Loan Facility | — | 310,875 | |||||||||||||
Discount, net of amortization | — | (7,297 | ) | |||||||||||||||
Total long-term debt | $ | 397,500 | $ | 389,522 | ||||||||||||||
389,522 | 303,578 | |||||||||||||||||
Senior Secured Notes | Less: Current maturities of long-term debt | — | 31,880 | |||||||||||||||
On June 1, 2012, GBC issued $375,000 in aggregate principal amount of 9.50% Senior Secured Notes due 2019 (the “Senior Secured Notes”), which are guaranteed by Holdings. The Senior Secured Notes mature on June 1, 2019. Interest on the Senior Secured Notes accrues at the rate of 9.50% per annum and is payable semiannually in arrears on June 1 and December 1, commencing on December 1, 2012. | ||||||||||||||||||
The credit agreement governing the ABL Facility (hereinafter defined) and the indenture governing the Senior Secured Notes (the “Indenture”) limit the ability of GBC and its subsidiaries to dividend or distribute cash to Holdings and to its equityholders, although ordinary course dividends and distributions to meet the limited holding company expenses and related obligations at Holdings of up to $5 million per year are permitted under those agreements. Under the terms of the Indenture, GBC is also permitted to dividend or distribute to Holdings and its equityholders up to 50% of its “Consolidated Net Income” (as such term is used in the Indenture) from April 1, 2012 to the end of GBC’s most recently ended fiscal quarter. As of September 30, 2013, all of the net assets of the subsidiaries are restricted except for $34,957, which are permitted for dividend distributions under the Indenture. As of September 30, 2013, GBC was in compliance with all of its covenants relating to the Senior Secured Notes. | Total long-term debt | $ | 389,522 | $ | 271,698 | |||||||||||||
Pursuant to a registration rights agreement, on October 7, 2013, GBC completed an exchange offer to issue registered new notes (with substantially the same terms as the Senior Secured Notes) in exchange for the Senior Secured Notes that GBC issued in a private offering on June 1, 2012. | ||||||||||||||||||
ABL Facility | Senior Secured Notes | |||||||||||||||||
Concurrent with the issuance of the Senior Secured Notes in 2012, the Company amended the agreement governing its asset-based revolving loan facility (the “ABL Facility”). | On June 1, 2012, GBC issued $375,000 in aggregate principal amount of 9.50% Senior Secured Notes due 2019. The Senior Secured Notes are guaranteed by Holdings and substantially all of the existing 100%-owned U.S. subsidiaries. The Senior Secured Notes are secured by a senior-priority security interest in the Company’s fixed assets (which secure the ABL Facility on a junior-priority basis) and by a junior-priority security interest in the Company’s accounts receivable and inventory (which secure the Company’s ABL Facility on a senior-priority basis). | |||||||||||||||||
The unused portion of the ABL Facility was $177,000 and $184,978 as of September 30, 2013 and December 31, 2012, respectively. As of September 30, 2013 and December 31, 2012, amounts outstanding under the ABL Facility accrued interest at a rate of 3.33% and 4.50%, respectively. | The proceeds from the issuance of the Senior Secured Notes were used to repay the Term Loan Facility under the Credit and Guaranty Agreement and to fund a cash distribution of $160,000 to Halkos. The indenture governing the Senior Secured Notes contains covenants that limit GBC’s ability and the ability of restricted subsidiaries to, among other things: incur or guarantee additional debt or issue preferred stock; pay dividends; repurchase equity interests; repay subordinated indebtedness; make investments; create restrictions on the payment of dividends or other amounts to GBC from restricted subsidiaries; sell assets, including collateral; enter into transactions with affiliates; merge or consolidate with another person, or sell or otherwise dispose of all or substantially all of GBC’s assets; and create liens on GBC’s or the restricted subsidiaries’ assets to secure debt. The credit agreement governing the ABL Facility and the indenture governing the Senior Secured Notes do, however, limit the ability of Global Brass and Copper, Inc. and its subsidiaries to dividend or distribute cash to Global Brass and Copper Holdings and to its equityholders, although ordinary course dividends and distributions to meet the limited holding company expenses and related obligations at Global Brass and Copper Holdings of up to $5 million per year are permitted under those agreements. Under the terms of the indenture governing the Senior Secured Notes, Global Brass and Copper, Inc. is also permitted to dividend or distribute to Global Brass and Copper Holdings and its equityholders up to 50% of its Consolidated Net Income (as defined in the indenture governing the Senior Secured Notes) from April 1, 2012 to the end of Global Brass and Copper’s most recently ended fiscal quarter. All of the net assets of the subsidiaries are restricted except for $16,432, which are permitted dividend distributions under the Company’s indenture governing the Senior Secured Notes. As of December 31, 2012, the Company was in compliance with all of its covenants relating to the Senior Secured Notes. | |||||||||||||||||
The ABL Facility has an expiration date of June 1, 2017 and contains various debt covenants to which the Company is subject on an ongoing basis. As of September 30, 2013, the Company was in compliance with all of its covenants under the ABL Facility. | The Senior Secured Notes mature on June 1, 2019. Interest on the Senior Secured Notes accrues at the rate of 9.50% per annum and is payable semiannually in arrears on June 1 and December 1, commencing on December 1, 2012. | |||||||||||||||||
The Company is required to offer to redeem the Senior Secured Notes at a purchase price of 101% of their principal amount (plus accrued and unpaid interest) upon the occurrence of certain change of control events. In addition, upon the completion of certain asset dispositions, the Company may be required to offer to redeem the Senior Secured Notes at a purchase price of 100% of their principal amount (plus accrued and unpaid interest) if it does not apply the proceeds of such asset dispositions in accordance with the indenture by certain specified deadlines. | ||||||||||||||||||
Pursuant to a registration rights agreement, dated as of June 1, 2012, the Company is required to effect a registered offer to issue registered new notes (with substantially the same terms as the Senior Secured Notes) in exchange for the Senior Secured Notes that the Company issued in a private offering on June 1, 2012. If the Company does not cause the registration statement for the exchange offer to go effective within 365 days after June 1, 2012, or otherwise fails to comply with the other deadlines in the registration rights agreement, it will be required to pay additional interest on the Senior Secured Notes equal to 0.25% per annum for each 90 days it is in default, up to a maximum of 0.50% per annum. | ||||||||||||||||||
ABL Facility | ||||||||||||||||||
Concurrent with the issuance of the Senior Secured Notes, the Company amended the ABL Facility to, among other things: | ||||||||||||||||||
• | increase the commitments under the facility from $150,000 to $200,000; | |||||||||||||||||
• | extend the maturity of the ABL Facility to June 1, 2017; | |||||||||||||||||
• | lower the applicable margin and unused line fee under the ABL Facility; | |||||||||||||||||
• | permit additional acquisitions, investments, restricted payments, asset sales and debt incurrences if certain conditions are satisfied; | |||||||||||||||||
• | increase the inventory loan limit for the borrowing base; | |||||||||||||||||
• | adjust certain reporting requirements and collateral audit requirements to make them less restrictive; and | |||||||||||||||||
• | reduce the excess availability threshold which requires testing of the fixed charge coverage ratio covenant. | |||||||||||||||||
The Company refers to these amendments collectively as the “ABL Credit Facility Amendment”. | ||||||||||||||||||
The ABL Facility provides for borrowings of up to the lesser of $200,000 or the Borrowing Base less outstanding loans and letters of credit. The Borrowing Base is defined as 85% of Eligible Accounts; plus the lesser of 80% of Eligible Inventory, 90% of the Net Recovery Percentage for the Eligible Inventory or the Inventory Loan Limit; minus Reserves. The maximum availability was $200,000 at December 31, 2012 and the Company had outstanding letters of credit of approximately $500 at December 31, 2012. In the event of increased commodity prices as indicated by the terms of the agreement, the Company may request, but the lenders are not obligated to, increase the maximum borrowings up to $250,000. At any time, if the amount outstanding under the ABL Facility exceeds the maximum allowable borrowings, the Company may be required to make a mandatory prepayment for the amount of the excess borrowings. At any time after the occurrence and during the continuance of a Trigger Event (as defined in the agreement governing the ABL Facility), subject to certain thresholds, reinvestment rights and other exceptions, proceeds received from asset sales, equity issuances or other specified events will be required to be applied (as mandatory prepayments) in whole or in part towards the extinguishment of outstanding amounts due under the ABL Facility. | ||||||||||||||||||
The Company may elect to receive advances under the ABL Facility in the form of either prime rate advances or LIBOR rate advances, as defined by the agreement governing the ABL Facility. The unused portion under the ABL Facility determines the applicable spread added to the prime rate or LIBOR rate. The unused portion of the ABL Facility was $184,978 and $149,300 as of December 31, 2012 and 2011, respectively. Effective with the amendment described above, unused amounts under the ABL Facility incur an unused line fee at a rate of 0.50% per annum, payable in full on a quarterly basis (subject to certain possible adjustments on and after January 1, 2013). Also effective with the amendment described above, outstanding borrowings under the ABL Facility bear interest at a rate equal to either (i) for prime rate loans, a prime rate plus a spread between 1.0% and 1.5%, depending on excess availability levels or (ii) for LIBOR rate loans, LIBOR plus a spread of 2.0% to 2.5% depending on excess availability levels. As of December 31, 2012 and 2011, amounts outstanding under the ABL Facility accrued interest at a rate of 4.50% and 5.25%, respectively. | ||||||||||||||||||
The ABL Facility has an expiration date of June 1, 2017 and contains various debt covenants to which the Company is subject on an ongoing basis. The ABL Facility restricts the Company’s ability to, among other things, incur indebtedness, grant liens, repurchase stock, issue cash dividends, make investments and acquisitions and sell assets, in each case subject to certain designated exceptions. Outstanding borrowings under the ABL Facility are secured by a senior-priority security interest in the Company’s accounts receivable and inventory (which secure the Senior Secured Notes on a junior-priority basis) and by a junior-priority security interest in the Company’s fixed assets (which secure the Senior Secured Notes on a senior-priority basis). As of December 31, 2012, the Company was in compliance with all of its covenants under the ABL Facility. | ||||||||||||||||||
The ABL Facility contains customary events of default including, among others, failure to make payment when due, materially incorrect representations and warranties, breach of covenants, events of bankruptcy, or a change in control. In the case of an event of default occurring, the applicable interest rate spread increases by 2.0% and the lenders would have the option to call the outstanding amount due. | ||||||||||||||||||
Term Loan Facility | ||||||||||||||||||
On June 1, 2012, the Company repaid and retired its senior secured term loan credit facility under the Credit and Guaranty Agreement dated August 18, 2010, as amended, with proceeds received from the issuance of the Senior Secured Notes offering. | ||||||||||||||||||
In connection with the termination prior to maturity of the Term Loan Facility, the Company recognized $19,612 as loss from extinguishment of debt for the fiscal year ended December 31, 2012 on the Company’s consolidated statements of operations. The loss on extinguishment of debt includes the write-off of $7,126 of unamortized debt issuance costs and $4,932 of unamortized debt discount as well as the payment of $6,394 of call premium and $21 of professional services fees related to the termination. | ||||||||||||||||||
Furthermore, in accordance with ASC 470-50, Modifications and Extinguishments, $1,139 of costs associated with the issuance of the Senior Secured Notes was expensed as incurred and reflected in the loss from extinguishment of debt. |
Income_Taxes
Income Taxes | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
Income Taxes | ' | ' | ||||||||||||||||||||
9 | Income Taxes | 11 | Income Taxes | |||||||||||||||||||
The effective income tax rate, which is provision for income taxes as a percentage of income before provision for income taxes and equity income, differs from the amount determined by applying the applicable U.S. statutory federal income tax rate to pretax results primarily as a result of the following: | Income before provision for income taxes and equity income is comprised of the following: | |||||||||||||||||||||
Nine Months Ended | Year Ended December 31, | |||||||||||||||||||||
September 30, | 2012 | 2011 | 2010 | |||||||||||||||||||
2013 | 2012 | Domestic | $ | 24,583 | $ | 81,534 | $ | 61,903 | ||||||||||||||
Statutory provision rate | 35 | % | 35 | % | Foreign | 6,502 | 4,303 | 5,388 | ||||||||||||||
Permanent differences and other items | ||||||||||||||||||||||
State tax provision | 7.9 | % | 3.6 | % | Total | $ | 31,085 | $ | 85,837 | $ | 67,291 | |||||||||||
Section 199 manufacturing credit | (6.9 | %) | (2.8 | %) | ||||||||||||||||||
Return to provision adjustments / Uncertain tax positions | (1.4 | %) | (3.1 | %) | The provision for income taxes is summarized as follows: | |||||||||||||||||
Non-deductible non-cash compensation | 48.7 | % | 41.2 | % | ||||||||||||||||||
Other | 1.1 | % | 1.5 | % | ||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
Effective income tax rate | 84.4 | % | 75.4 | % | 2012 | 2011 | 2010 | |||||||||||||||
Current tax provision | ||||||||||||||||||||||
The “Non-deductible non-cash compensation” expense as described further in note 14, “Profits Interest Awards,” is not deductible in the Company’s tax returns and has been reflected as a permanent difference in the effective tax rate reconciliations above. | U.S. federal | $ | 10,329 | $ | 16,518 | $ | 13,663 | |||||||||||||||
As of September 30, 2013 and December 31, 2012, the Company had $25,841 and $27,401 respectively, of unrecognized tax benefits, none of which would impact the effective tax rate, if recognized. Estimated interest and penalties expense related to the underpayment of income taxes were $29 for nine months ended September 30, 2013. During the nine months ended September 30, 2012, the Company revised its estimate of interest and penalties expense related to the underpayment of income taxes, which resulted in a $138 reduction of the accrual. Estimated interest and penalties expense are classified as a component of income tax expense in the accompanying consolidated statements of operations. Accrued interest and penalties as of September 30, 2013 and December 31, 2012 were $64 and $35, respectively, inclusive of the estimated interest and penalties mentioned above. The Company’s liability for uncertain tax positions of $25,905 and $27,436 at September 30, 2013 and December 31, 2012, respectively, are presented in other noncurrent liabilities. | State and local | 1,923 | 3,347 | 5,660 | ||||||||||||||||||
The Company is subject to income taxation in several jurisdictions around the world. Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income tax in the period such resolution occurs. Although timing of the resolution and/or closure of audits is not certain, the Company believes it has adequately reserved for any potential tax exposures at September 30, 2013. The Internal Revenue Service completed its examination of the Corporation’s income tax returns through the period ended December 31, 2010. The Company’s U.S. federal returns for the period ended December 31, 2011 and all subsequent periods remain open for audit. The majority of state returns for the period ended September 30, 2010 and all subsequent periods remain open for audit. | Foreign | 1,685 | 1,081 | 1,312 | ||||||||||||||||||
Total current | 13,937 | 20,946 | 20,635 | |||||||||||||||||||
Deferred tax provision | ||||||||||||||||||||||
U.S. federal | 4,389 | 10,209 | 5,760 | |||||||||||||||||||
State and local | 571 | 188 | 372 | |||||||||||||||||||
Foreign | 288 | 94 | (91 | ) | ||||||||||||||||||
Total deferred | 5,248 | 10,491 | 6,041 | |||||||||||||||||||
Total provision | $ | 19,185 | $ | 31,437 | $ | 26,676 | ||||||||||||||||
The effective income tax rate differs from the amount determined by applying the applicable U.S. statutory federal income tax rate to pretax results primarily as a result of the following: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||
Statutory provision rate | 35 | % | 35 | % | 35 | % | ||||||||||||||||
Permanent differences and other items | ||||||||||||||||||||||
State tax provision | 6.7 | % | 3.9 | % | 6 | % | ||||||||||||||||
Section 199 manufacturing credit | (3.2 | %) | (2.3 | %) | (1.5 | %) | ||||||||||||||||
Incremental tax effects of foreign earnings | 1.8 | % | 0.2 | % | 0.3 | % | ||||||||||||||||
Return to provision adjustments | 1.2 | % | (0.7 | %) | (2.2 | %) | ||||||||||||||||
Re-rate of deferred taxes | (0.8 | %) | (0.3 | %) | (0.2 | %) | ||||||||||||||||
Non-deductible non-cash compensation | 22 | % | 0.4 | % | 1.8 | % | ||||||||||||||||
Other | (1.0 | %) | 0.4 | % | 0.4 | % | ||||||||||||||||
Effective income tax rate | 61.7 | % | 36.6 | % | 39.6 | % | ||||||||||||||||
The “Non-deductible non-cash compensation” expense as described further in note 17, “Profits Interest Awards,” is not deductible in the Company’s tax returns and has been reflected as a permanent difference in the effective tax rate reconciliations above. | ||||||||||||||||||||||
Deferred tax assets and liabilities are comprised of the following: | ||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||
Deferred tax assets | ||||||||||||||||||||||
Inventory | $ | 48,932 | $ | 50,936 | ||||||||||||||||||
Accruals and other reserves | 7,721 | 8,376 | ||||||||||||||||||||
Financing fees | — | 731 | ||||||||||||||||||||
Accounts receivable | 1,082 | 939 | ||||||||||||||||||||
UNICAP adjustment | 1,278 | 1,319 | ||||||||||||||||||||
Derivative contracts | 487 | 1,104 | ||||||||||||||||||||
Other | 680 | — | ||||||||||||||||||||
Gross deferred tax assets | $ | 60,180 | $ | 63,405 | ||||||||||||||||||
Deferred tax liabilities | ||||||||||||||||||||||
Investments in foreign entities | $ | 7,310 | $ | 6,507 | ||||||||||||||||||
Fixed assets and intangibles | 11,122 | 7,139 | ||||||||||||||||||||
Financing fees | 2,145 | — | ||||||||||||||||||||
Other | — | 762 | ||||||||||||||||||||
Gross deferred tax liability | 20,577 | 14,408 | ||||||||||||||||||||
Net deferred tax asset | $ | 39,603 | $ | 48,997 | ||||||||||||||||||
Net current deferred tax asset | $ | 33,465 | $ | 29,027 | ||||||||||||||||||
Net long-term deferred tax asset | 6,138 | 19,970 | ||||||||||||||||||||
Net deferred tax asset | $ | 39,603 | $ | 48,997 | ||||||||||||||||||
At December 31, 2012, the inventory deferred tax asset includes $25,521 related to the impact of the November 19, 2007 purchase price allocations to LIFO inventories for tax purposes, which resulted in a bargain purchase gain. There is a corresponding liability recorded in the Company’s other noncurrent liabilities in accordance with the provisions of ASC 740, Income Taxes. | ||||||||||||||||||||||
The net deferred tax assets do not require a valuation allowance at December 31, 2012 and 2011 as it is more likely than not that the tax benefit will be realized. | ||||||||||||||||||||||
The Company does not assert permanent reinvestment on the excess of its financial reporting over tax basis of its foreign investments. As a result, deferred tax liabilities of $7,310 and $6,507 have been established on the U.S. federal and state income taxes, net of applicable credits, on the excess financial reporting over tax basis of its foreign entities at December 31, 2012 and 2011, respectively. The Company plans foreign remittance amounts based on projected cash flow needs as well as the working capital and long-term investment requirements of its foreign subsidiaries and its domestic operations. | ||||||||||||||||||||||
At December 31, 2012, the Company has a foreign tax credit carryforward of $514 which will expire by 2022. | ||||||||||||||||||||||
Uncertain Tax Positions | ||||||||||||||||||||||
The Company accounts for its income tax positions under the provisions of ASC 740, which was initially adopted on November 19, 2007. ASC 740 prescribes a minimum threshold a tax position is required to meet before being recognized in these consolidated financial statements. ASC 740 requires the Company to recognize in its consolidated financial statements tax positions determined more likely than not to be sustained upon examination, based on the technical merits of the position. | ||||||||||||||||||||||
The Company is subject to income taxation in several jurisdictions around the world. Resolution of the related tax positions through negotiations with relevant tax authorities or through litigation may take years to complete. Therefore, it is difficult to predict the timing for resolution of tax positions. However, the Company does not anticipate that the total amount of unrecognized tax benefits will increase or decrease significantly in the next twelve months. The Company’s U.S. federal returns and the majority of state returns for the period ended September 30, 2009 and all subsequent periods remain open for audit. The Company’s federal returns are currently under examination by the Internal Revenue Service for the periods ended September 30, 2009 through December 31, 2010. The Company believes it has adequately reserved for any potential tax exposures at December 31, 2012. | ||||||||||||||||||||||
At December 31, 2012 and 2011, the Company had $27,401 and $31,340, respectively, of unrecognized tax benefits, none of which would impact the effective tax rate, if recognized. Estimated interest and penalties related to the underpayment of income taxes are classified as a component of income tax expense in the accompanying consolidated statements of operations. Accrued interest and penalties as of December 31, 2012 and 2011 were $35 and $301, respectively. The Company’s liability for uncertain tax positions, including accrued interest and penalties, of $27,436 and $31,641 at December 31, 2012 and 2011, respectively, are presented in other noncurrent liabilities. | ||||||||||||||||||||||
A reconciliation of the summary of activity of the Company’s uncertain tax positions is summarized as follows: | ||||||||||||||||||||||
Balance at January 1, 2011 | $ | 35,483 | ||||||||||||||||||||
Additions for tax positions related to prior years | 207 | |||||||||||||||||||||
Reductions for tax positions related to prior years | (4,350 | ) | ||||||||||||||||||||
Balance at December 31, 2011 | $ | 31,340 | ||||||||||||||||||||
Additions for tax positions related to prior years | — | |||||||||||||||||||||
Reductions for tax positions related to prior years | (1,963 | ) | ||||||||||||||||||||
Reductions due to tax settlements | (1,515 | ) | ||||||||||||||||||||
Reductions due to tax statute of limitations | (461 | ) | ||||||||||||||||||||
Balance at December 31, 2012 | $ | 27,401 | ||||||||||||||||||||
From 2007 through 2009, the Company’s tax year end was September 30 and its fiscal year end was December 31. During 2010, the Company filed a request to change its tax year end to December 31. The effective date of this request was December 31, 2010. Accordingly, the Company filed a stub year income tax return for the period from October 1, 2010 through December 31, 2010. |
Derivative_Contracts
Derivative Contracts | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Contracts | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
10 | Derivative Contracts | 13 | Derivative Contracts | |||||||||||||||||||||||||||||||||||||||||||||||
The Company maintains a metal, natural gas and electricity pricing risk-management strategy that uses commodity derivative contracts to minimize significant, unanticipated gains or losses that may arise from volatility of the commodity indices. | The Company maintains a metal, natural gas and electricity pricing risk-management strategy that uses commodity derivative contracts to minimize significant, unanticipated gains or losses and cash fluctuations that may arise from volatility of the commodity indices. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s commodity derivative contracts consist of delivery contracts matched in quantity, price and maturity to firm price sales orders in order to protect sales margins from metal price fluctuations between the firm price sale order date and shipment date. | The Company’s commodity derivative contracts consist of delivery contracts matched in quantity, price and maturity to firm price sales orders, in circumstances where physical firm price metal is unavailable, in order to protect sales margins from metal price fluctuations between the firm price sale order date and shipment date. | |||||||||||||||||||||||||||||||||||||||||||||||||
The prices of natural gas and electricity can be particularly volatile. The Company attempts to mitigate short-term volatility in natural gas and electricity costs through the use of derivatives contracts in an effort to offset the effect of increasing costs. | The prices of natural gas and electricity can be particularly volatile. As a result, our natural gas and electricity costs may fluctuate dramatically. The Company attempts to mitigate short-term volatility in natural gas and electricity costs through the use of derivatives contracts in an effort to offset the effect of increasing costs. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company also utilized interest rate cap agreements in compliance with the requirement under its prior senior secured term loan credit facility (the “Term Loan Facility”) to provide that at least 50% of the Term Loan Facility be subject to a fixed rate or interest rate protection for a period of not less than three years. These interest rate cap agreements were not designated as an accounting hedge and changes in the fair value of the interest rate cap agreements have been recorded as non-cash interest expense. The agreements expired in August 2013. | The Company also utilized interest rate cap agreements in compliance with the requirement under the Term Loan Facility to provide that at least 50% of the term loan be subject to a fixed rate or interest rate protection for a period of not less than three years. During 2010, the Company entered into three-year interest rate cap agreements that capped the interest rate on $300,000 of the aggregate principal outstanding. The interest rate cap agreements are not designated as an accounting hedge and changes in the fair value of the interest rate cap agreements are recorded as non-cash interest expense. | |||||||||||||||||||||||||||||||||||||||||||||||||
By using derivative contracts to limit exposures to fluctuations in metal, natural gas and electricity prices and interest rate movements, the Company exposes itself to credit risk and market risk. Credit risk is the risk that the counterparty might fail to fulfill its performance obligations under the terms of the derivative contract. Market risk is the risk that the value of a derivative instrument might be adversely affected by a change in commodity price or interest rates. The Company manages the market risk associated with derivative contracts by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. | By using derivative contracts to limit exposures to fluctuations in metal, natural gas and electricity prices and interest rate movements, the Company exposes itself to credit risk and market risk. Credit risk is the risk that the counterparty might fail to fulfill its performance obligations under the terms of the derivative contract. Market risk is the risk that the value of a derivative instrument might be adversely affected by a change in commodity price or interest rates. The Company manages the market risk associated with derivative contracts by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company manages credit risk associated with derivative contracts by only executing derivative instruments with counterparties with investment-grade credit ratings. The amount of such credit risk is limited to the fair value of the derivative contract plus the unpaid portion of amounts due to the Company pursuant to terms of the derivative contracts, if any. If a downgrade in the credit rating of these counterparties occurs, management believes that this exposure is mitigated by provisions in the derivative arrangements which allow for the legal right of offset of any amounts due to the Company from the counterparties with any amounts payable to the counterparties by the Company. | The Company primarily executes derivative contracts with major financial institutions. These counterparties expose the Company to credit risk in the event of non-performance. The amount of such exposure is limited to the fair value of the derivative contract plus the unpaid portion of amounts due to the Company pursuant to terms of the derivative contracts, if any. If a downgrade in the credit rating of these counterparties occurs, management believes that this exposure is mitigated by provisions in the derivative arrangements which allow for the legal right of offset of any amounts due to the Company from the counterparties with any amounts payable to the counterparties by the Company. | |||||||||||||||||||||||||||||||||||||||||||||||||
The fair values of derivative contracts in the consolidated balance sheet include the impact of netting derivative assets and liabilities when a legally enforceable master netting arrangement exists. The following tables summarize the gross amounts of recognized derivative assets and liabilities, the net amounts presented in the consolidated balance sheet, and the net amounts after deducting collateral that has been deposited with counterparties: | ||||||||||||||||||||||||||||||||||||||||||||||||||
The fair values of derivative contracts in the consolidated balance sheet include the impact of netting derivative assets and liabilities when a legally enforceable master netting arrangement exists. The following tables summarize the gross amounts of recognized derivative assets and liabilities, the net amounts presented in the consolidated balance sheet, and the net amounts after deducting collateral that has been deposited with counterparties: | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | Amounts Not Offset in | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | the Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | Gross | Gross | Net Amounts | Financial | Cash | Net | ||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | Recognized | Offset in | Presented in | Received | |||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Received | Assets | Consolidated | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Assets | Consolidated | Consolidated | Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Open metals contracts | $ | 603 | $ | (224 | ) | $ | 379 | $ | — | $ | — | $ | 379 | |||||||||||||||||||||||||||||||||||
Open metal contracts | $ | 722 | $ | (722 | ) | $ | — | $ | — | $ | — | $ | — | (208 contracts) | ||||||||||||||||||||||||||||||||||||
(361 contracts) | Open natural gas contracts | 2 | — | 2 | — | — | 2 | |||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 56 | (51 | ) | 5 | — | — | 5 | (6 contracts) | ||||||||||||||||||||||||||||||||||||||||||
(10 contracts) | Open electricity contracts | 169 | (2 | ) | 167 | — | — | 167 | ||||||||||||||||||||||||||||||||||||||||||
(17 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 778 | $ | (773 | ) | $ | 5 | $ | — | $ | — | $ | 5 | Interest rate cap agreements | 1 | — | 1 | — | — | 1 | ||||||||||||||||||||||||||||||
(2 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 5 | Total | $ | 775 | $ | (226 | ) | $ | 549 | $ | — | $ | — | $ | 549 | ||||||||||||||||||||||||||||||||||
Total | $ | 5 | Consolidated balance sheet location: | |||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 548 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | ||||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | Total | $ | 549 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | Amounts Not Offset in | ||||||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Deposited | the Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Consolidated | Consolidated | Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||||||
Open metal contracts | $ | 1,074 | $ | (722 | ) | $ | 352 | $ | — | $ | 352 | $ | — | Recognized | Offset in | Presented in | Deposited | |||||||||||||||||||||||||||||||||
(406 contracts) | Liabilities | Consolidated | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
Open natural gas contracts | 5 | — | 5 | — | 5 | — | Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||
(4 contracts) | Sheet | Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 51 | (51 | ) | — | — | — | — | Open metals contracts | $ | 224 | $ | (224 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||
(14 contract) | (85 contracts) | |||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 2 | (2 | ) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,130 | $ | (773 | ) | $ | 357 | $ | — | $ | 357 | $ | — | (1 contract) | ||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | Total | $ | 226 | $ | (226 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
Accrued liabilities | $ | 357 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 357 | Not included in the table above is $767 of collateral included in Prepaid Expenses and Other Current Assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | |||||||||||||||||||||||||||||||||||||||||||||||
Not included in the above table is $1,504 of collateral included in prepaid expenses and other current assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | As of December 31, 2011 | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts Not | ||||||||||||||||||||||||||||||||||||||||||||||||||
Offset in the | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Consolidated Balance | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | (dollars in thousands) | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | ||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | Recognized | Offset in | Presented in | Received | |||||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | Assets | Consolidated | Consolidated | ||||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Received | Balance | Balance | |||||||||||||||||||||||||||||||||||||||||||||
Assets | Consolidated | Consolidated | Sheet | Sheet | ||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Open metals contracts (88 contracts) | $ | 294 | $ | (294 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Sheet | Sheet | Open electricity contracts (6 contracts) | 43 | (43 | ) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Open metals contracts | $ | 603 | $ | (224 | ) | $ | 379 | $ | — | $ | — | $ | 379 | Interest rate cap agreements (2 contracts) | 157 | — | 157 | — | — | 157 | ||||||||||||||||||||||||||||||
(208 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Open natural gas contracts | 2 | — | 2 | — | — | 2 | Total | $ | 494 | $ | (337 | ) | $ | 157 | $ | — | $ | — | $ | 157 | ||||||||||||||||||||||||||||||
(6 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 169 | (2 | ) | 167 | — | — | 167 | Consolidated balance sheet location: | ||||||||||||||||||||||||||||||||||||||||||
(17 contracts) | Other noncurrent assets | $ | 157 | |||||||||||||||||||||||||||||||||||||||||||||||
Interest rate cap agreements | 1 | — | 1 | — | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||
(2 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts Not | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 775 | $ | (226 | ) | $ | 549 | $ | — | $ | — | $ | 549 | Offset in the | ||||||||||||||||||||||||||||||||||||
Consolidated Balance | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 548 | (dollars in thousands) | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 1 | Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Deposited | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 549 | Liabilities | Consolidated | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Open metals contracts (151 contracts) | $ | 1,647 | $ | (294 | ) | $ | 1,353 | $ | — | $ | (1,353 | ) | $ | — | |||||||||||||||||||||||||||||||||||
the Consolidated | Open natural gas contracts (31 contracts) | 384 | — | 384 | — | (384 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | Open electricity contracts (8 contracts) | 131 | (43 | ) | 88 | — | — | 88 | ||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | Total | $ | 2,162 | $ | (337 | ) | $ | 1,825 | $ | — | $ | (1,737 | ) | $ | 88 | ||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Deposited | |||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Consolidated | Consolidated | Consolidated balance sheet location: | |||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Accrued liabilities | $ | 1,825 | ||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Open metals contracts | $ | 224 | $ | (224 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
(85 contracts) | Not included in the table above is $2,885 of collateral included in Prepaid Expenses and Other Current Assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | |||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 2 | (2 | ) | — | — | — | — | The following table summarizes the effects of derivative contracts in the consolidated statements of operations: | ||||||||||||||||||||||||||||||||||||||||||
(1 contract) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 226 | $ | (226 | ) | $ | — | $ | — | $ | — | $ | — | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | ||||||||||||||||||||||||||||||||||||||||||||||||||
Not included in the above table is $767 of collateral included in prepaid expenses and other current assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | Realized and unrealized loss—metal contracts | $ | 1,339 | $ | 3,884 | $ | 7,605 | |||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the effects of derivative contracts in the consolidated statements of operations: | Realized and unrealized loss—natural gas contracts | 76 | 517 | 1,825 | ||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized loss—electricity contracts | 243 | 57 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Total | $ | 1,658 | $ | 4,458 | $ | 9,430 | |||||||||||||||||||||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | Interest expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | Unrealized loss (gain)—interest rate cap agreements | $ | 156 | $ | 1,851 | $ | (800 | ) | ||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—metal contracts | $ | (143 | ) | $ | 614 | |||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—natural gas contracts | (12 | ) | 113 | |||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—electricity contracts | (193 | ) | 222 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | (348 | ) | $ | 949 | |||||||||||||||||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized loss—interest rate cap agreements | $ | (1 | ) | $ | (156 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurements | ' | ' | ||||||||||||||||||||||||||||||||
11 | Fair Value Measurements | 14 | Fair Value Measurements | |||||||||||||||||||||||||||||||
ASC 820 defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measures required under other accounting pronouncements but does not change existing guidance as to whether or not an instrument is carried at fair value. This guidance also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. In accordance with this guidance, fair value measurements are classified under the following hierarchy: | ASC 820 defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measures required under other accounting pronouncements but does not change existing guidance as to whether or not an instrument is carried at fair value. This guidance also specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques. In accordance with this guidance, fair value measurements are classified under the following hierarchy: | |||||||||||||||||||||||||||||||||
• | Level 1—Quoted prices for identical instruments in active markets. | • | Level 1—Quoted prices for identical instruments in active markets. | |||||||||||||||||||||||||||||||
• | Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. | • | Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets. | |||||||||||||||||||||||||||||||
• | Level 3—Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. | • | Level 3—Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable. | |||||||||||||||||||||||||||||||
The following tables provide the hierarchy of inputs used to derive the fair value of the Company’s assets and liabilities at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | The following tables provide the hierarchy of inputs used to derive the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 and December 31, 2011: | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Open electricity contracts | $ | — | $ | 5 | $ | — | $ | 5 | Open metal contracts | $ | — | $ | 379 | $ | — | $ | 379 | |||||||||||||||||
Open natural gas contracts | — | 2 | — | 2 | ||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 5 | $ | — | $ | 5 | Open electricity contracts | — | 167 | — | 167 | |||||||||||||||||||||
Interest rate cap agreements | — | 1 | — | 1 | ||||||||||||||||||||||||||||||
Open metal contracts | $ | — | $ | 352 | $ | — | $ | 352 | ||||||||||||||||||||||||||
Open natural gas contracts | — | 5 | — | 5 | Total assets | $ | — | $ | 549 | $ | — | $ | 549 | |||||||||||||||||||||
Total liabilities | $ | — | $ | 357 | $ | — | $ | 357 | ||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||
Interest rate cap agreements | $ | — | $ | 157 | $ | — | $ | 157 | ||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total assets | $ | — | $ | 157 | $ | — | $ | 157 | ||||||||||||||||||||||
Open metal contracts | $ | — | $ | 379 | $ | — | $ | 379 | ||||||||||||||||||||||||||
Open natural gas contracts | — | 2 | — | 2 | Open metal contracts | $ | — | $ | 1,353 | $ | — | $ | 1,353 | |||||||||||||||||||||
Open electricity contracts | — | 167 | — | 167 | Open natural gas contracts | — | 384 | — | 384 | |||||||||||||||||||||||||
Interest rate cap agreements | — | 1 | — | 1 | Open electricity contracts | — | 88 | — | 88 | |||||||||||||||||||||||||
Total assets | $ | — | $ | 549 | $ | — | $ | 549 | Total liabilities | $ | — | $ | 1,825 | $ | — | $ | 1,825 | |||||||||||||||||
In accordance with ASC 820, the Company determines the fair value of its interest rate agreement and commodity derivative contracts using Level 2 inputs. | In accordance with ASC 820, the Company determines the fair value of its interest rate agreement and commodity derivative contracts using Level 2 inputs. | |||||||||||||||||||||||||||||||||
The Company’s metal, natural gas and electricity commodity derivative contracts are considered Level 2 as fair value measurements consist of both quoted price inputs and inputs provided by a third party that are derived principally from or corroborated by observable market data by correlation. These assumptions include, but are not limited to, those concerning interest rates, credit rates, discount rates, default rates and other factors. All derivative commodity contracts have a set term of 24 months or less. | The Company’s metal, natural gas and electricity commodity derivative contracts are considered Level 2 as fair value measurements consist of both quoted price inputs and inputs provided by a third party that are derived principally from or corroborated by observable market data by correlation. These assumptions include, but are not limited to, those concerning interest rates, credit rates, discount rates, default rates and other factors. All derivative commodity contracts have a set term of 24 months or less. | |||||||||||||||||||||||||||||||||
The Company’s interest rate cap agreements are considered Level 2 fair value measurements as the pricing is derived from discounting the future expected cash flows that would occur if variable interest rates rise above the strike rates of the caps. The variable interest rates used in the calculation of projected cash flows on the caps are based on an expectation of future interest rates derived from observable market interest rate curves (LIBOR forward curves) and volatilities that are observable at commonly quoted intervals. | The Company’s interest rate cap agreements are considered Level 2 fair value measurements as the pricing is derived from discounting the future expected cash flows that would occur if variable interest rates rise above the strike rates of the caps. The variable interest rates used in the calculation of projected cash flows on the caps are based on an expectation of future interest rates derived from observable market interest rate curves (LIBOR forward curves) and volatilities that are observable at commonly quoted intervals. | |||||||||||||||||||||||||||||||||
The Company does not hold assets or liabilities requiring a Level 3 measurement and there have not been any transfers between the hierarchy levels during 2013 or 2012. | The Company does not hold assets or liabilities requiring a Level 3 measurement and there have not been any transfers between the hierarchy levels during 2012 or 2011. | |||||||||||||||||||||||||||||||||
For purposes of financial reporting, the Company has determined that the carrying value of cash, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the short maturities of these instruments. Additionally, given the revolving nature and the variable interest rates, the Company has determined that the carrying value of the ABL Facility also approximates fair value. As of September 30, 2013, the fair value of the Company’s Senior Secured Notes approximated $415,781. The fair value of the Senior Secured Notes was based upon quotes from financial institutions (Level 2 in the fair value hierarchy as defined by ASC 820). | For purposes of financial reporting, the Company has determined that the carrying value of cash, accounts receivable, accounts payable, and accrued expenses approximates fair value due to the short maturities of these instruments. Additionally, given the revolving nature and the variable interest rates, the Company has determined that the carrying value of the ABL Facility also approximates fair value. As of December 31, 2012, the fair value of the Company’s Senior Secured Notes approximated $406,875. The fair value of the Senior Secured Notes was based upon quotes from financial institutions (Level 2 in the fair value hierarchy as defined by ASC 820). |
Related_Parties
Related Parties | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||
Related Party Transactions [Abstract] | ' | ' | ||||||
Related Parties | ' | ' | ||||||
12 | Related Parties | 15 | Related Parties | |||||
KPS Special Situations Fund II, L.P., KPS Special Situations Fund II (A), L.P., KPS Special Situations Fund III, L.P. and KPS Special Situations Fund III (A), L.P. (together, “KPS Funds”) are majority shareholders of Halkos. As of September 30, 2013, Halkos beneficially owned 61.5% of the outstanding shares of Holdings. On October 1, 2013, the Company completed its follow-on public offering of 5,750,000 shares of its common stock. Halkos sold all of the shares in the follow-on public offering and received all of the net proceeds from the offering. After giving effect to the follow-on public offering, Halkos beneficially owns approximately 34.4% of the outstanding common stock of the Company. | KPS Special Situations Fund II, L.P., KPS Special Situations Fund II (A), L.P., KPS Special Situations Fund III, L.P. and KPS Special Situations Fund III (A), L.P. (together, “KPS Funds”) are majority shareholders of Halkos. Halkos owns all of the outstanding shares of Holdings. On June 1, 2012, the Company distributed $160,000 to Halkos (see note 10, “Financing”). | |||||||
The Company and affiliates of KPS Funds entered into an agreement whereby affiliates of KPS Funds charged the Company for services of their personnel engaged in line or staff functions relating specifically to the operations of the Company (the “Management Services Agreement”). In May 2013, in connection with the IPO, the Company terminated the Management Services Agreement prior to the expiration of the initial term and was required to pay the affiliates of KPS Funds an early termination fee equal to the value of the advisory fee that would have otherwise been payable to the affiliates of KPS Funds through the end of the Management Services Agreement. The Company paid $4,500 to the affiliates of KPS Funds related to the Company’s early termination and all unpaid management advisory fees. The total charges, which are included in selling, general and administrative expenses, were $4,750 for the nine months ended September 30, 2013, all of which were recorded in the first six months of 2013, and $750 for the nine months ended September 30, 2012. As of December 31, 2012, $250 of these charges were accrued for in accrued liabilities. Additionally, pursuant to the Management Services Agreement, the Company was required to reimburse the affiliates of KPS Funds for all reasonable costs and expenses incurred in connection with the services provided. These costs were $24 and $62 for the nine months ended September 30, 2013 and 2012, respectively. | The Company and affiliates of KPS Funds have entered into an agreement whereby affiliates of KPS Funds charge the Company for services of their personnel engaged in line or staff functions relating specifically to the operations of the Company (the “Management Services Agreement”). The charges, which are included in selling, general and administrative expenses, were $1,000 for each of the years ended December 31, 2012, 2011 and 2010, of which $250 is included in accrued liabilities at December 31, 2012 and 2011. Additionally, pursuant to the Management Services Agreement, the Company is required to reimburse the affiliates of KPS Funds for all reasonable costs and expenses incurred in connection with the services provided. These costs were $77, $167 and $102 for the year ended December 31, 2012, 2011 and 2010, respectively. | |||||||
The Company and KPS Funds entered into an agreement dated October 18, 2011 whereby the KPS Funds agreed to reimburse the Company for specific incremental costs directly attributable to the offering of equity securities (the “KPS Reimbursement Obligation”). Pursuant to the completion of the offering that occurred on May 29, 2013, KPS Funds reimbursed the Company all amounts owed in connection with the KPS Reimbursement Obligation. As of December 31, 2012, the Company had recorded $4,875 as a receivable from stockholder pertaining to the KPS Reimbursement Obligation. | The Company and KPS Funds entered into an agreement dated October 18, 2011 whereby the KPS Funds agreed to reimburse the Company for specific incremental costs directly attributable to an offering of equity securities (the “KPS Reimbursement Obligation”). As of December 31, 2012 and 2011, the Company has recorded $4,875 and $2,451, respectively, as a receivable from stockholder pertaining to the KPS Reimbursement Obligation. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2013 | Dec. 31, 2012 | ||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ' | |||||||
Commitments and Contingencies | ' | ' | |||||||
13 | Commitments and Contingencies | 16 | Commitments and Contingencies | ||||||
Environmental Considerations | Environmental Considerations | ||||||||
The Company is subject to a variety of environmental laws and regulations governing discharges to air and water, the handling, storage and disposal of hazardous or solid waste materials and the remediation of contamination associated with releases of hazardous substances. Although the Company believes it is in material compliance with all of the various regulations applicable to its business, there can be no assurance that requirements will not change in the future or that the Company will not incur significant costs to comply with such requirements. The Company employs responsible personnel at each facility, along with various environmental engineering consultants from time to time to assist with ongoing management of environmental, health and safety requirements. Management expenses environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Expenditures that extend the life of the related property are capitalized. The Company determines its liability on a location by location basis and records a liability at the time it is deemed probable and can be reasonably estimated. The Company is currently not aware of any environmental matters which may have a material impact on the Company’s financial position, results of operations, or liquidity. | The Company is subject to a variety of environmental laws and regulations governing discharges to air and water, the handling, storage and disposal of hazardous or solid waste materials and the remediation of contamination associated with releases of hazardous substances. Although the Company believes it is in material compliance with all of the various regulations applicable to its business, there can be no assurance that requirements will not change in the future or that the Company will not incur significant cost to comply with such requirements. The Company employs responsible personnel at each facility, along with various environmental engineering consultants from time to time to assist with ongoing management of environmental, health and safety requirements. Management expenses environmental costs related to existing conditions resulting from past or current operations and from which no current or future benefit is discernible. Expenditures that extend the life of the related property are capitalized. The Company determines its liability on a location by location basis and records a liability at the time it is deemed probable and can be reasonably estimated. The Company is currently not aware of any environmental matters which may have a material impact on the Company’s financial position, results of operations, or liquidity. | ||||||||
On November 19, 2007 (the date of inception of GBC), the Company acquired the assets and operations relating to the worldwide metals business of Olin Corporation. Olin Corporation agreed to retain liability arising out of the existing conditions on certain of our properties for any remedial actions required by environmental laws, and agreed to indemnify the Company for all or part of a number of other environmental liabilities. Since 2007, Olin Corporation has been performing remedial actions at the facilities in East Alton, Illinois and Waterbury, Connecticut, and has been participating in remedial actions at certain other properties as well. If Olin Corporation were to stop its environmental remedial activities at the Company’s properties, the Company could be required to assume responsibility for these activities, the cost of which could be material. | On November 19, 2007 (the date of inception of GBC), the Company acquired the assets and operations relating to the worldwide metals business of Olin Corporation. Olin Corporation agreed to retain liability arising out of the existing conditions on certain of our properties for any remedial actions required by environmental laws, and agreed to indemnify the Company for all or part of a number of other environmental liabilities. Since 2007, Olin Corporation has been performing remedial actions at the facilities in East Alton, Illinois and Waterbury, Connecticut, and has been participating in remedial actions at certain other properties as well. If Olin Corporation were to stop its environmental remedial activities at the Company’s properties, the Company could be required to assume responsibility for these activities, the cost of which could be material. | ||||||||
Insurance Coverage | Insurance Coverage | ||||||||
The Company maintains Comprehensive Medical Plans for employees of GBC and its subsidiaries (the “Plans”) to provide health insurance for eligible employees on a self-insured basis. The Plans are covered by a stop loss policy for those benefits provided on a self-insured basis with a deductible of $275 per occurrence for all GBC employees, except for employees of our Chase Brass division, which has a deductible of $100 per occurrence. The policy for our Chase Brass division also has a specific stop loss maximum resulting in the Company being responsible for paying the amount in excess of $2,000 per occurrence. | The Company maintains Comprehensive Medical Plans for employees of GBC and its subsidiaries (the “Plans”) to provide health insurance for eligible employees on a self-insured basis. The Plans are covered by a stop loss policy for those benefits provided on a self-insured basis with a deductible of $275 per occurrence for all GBC employees, except for employees of our Chase Brass division, which has a deductible of $100 per occurrence and a specific stop loss maximum of $2,000. | ||||||||
The Company is self-insured for workers’ compensation claims assumed from its predecessor company for activity prior to November 19, 2007. Workers’ compensation claims relating to activity after November 19, 2007 are covered by a loss funding insurance arrangement whereby the Company makes a fixed payment to the insurer which is used to pay submitted claims. The Company is self-insured for annual workers’ compensation costs relating to activity after November 19, 2007 of up to $500 per occurrence. | The Company is self-insured for workers’ compensation claims assumed from its predecessor company for activity prior to November 19, 2007 and benefits paid under employee health care programs. Workers’ compensation claims relating to activity after November 19, 2007 are covered by a loss funding insurance arrangement whereby the Company makes a fixed payment to the insurer which is used to pay submitted claims. The Company is self-insured for annual workers’ compensation costs relating to activity after November 19, 2007 of up to $500 per occurrence. | ||||||||
Legal Considerations | Legal Considerations | ||||||||
The Company is party to various legal proceedings arising in the ordinary course of business. The Company believes that none of its lawsuits are individually material or that the aggregate exposure of all of its lawsuits, including those that are probable and those that are only reasonably possible, is material to its financial condition, results of operations or cash flows. | The Company is party to various legal proceedings arising in the ordinary course of business. The Company believes that none of its lawsuits are individually material or that the aggregate exposure of all of its lawsuits, including those that are probable and those that are only reasonably possible, is material to its financial condition, results of operations or cash flows. | ||||||||
Operating Leases | |||||||||
The Company has operating leases covering certain of its facilities and equipment under non-cancelable lease agreements. | |||||||||
Future minimum lease payments under non-cancelable leases in effect are as follows: | |||||||||
Year | Payment | ||||||||
2013 | $ | 2,654 | |||||||
2014 | 1,621 | ||||||||
2015 | 956 | ||||||||
2016 | 612 | ||||||||
2017 | 122 | ||||||||
Thereafter | — | ||||||||
Total minimum lease payments | $ | 5,965 | |||||||
Rental expense under all operating leases was approximately $3,606, $3,603 and $3,543 for the years ended December 31, 2012, 2011 and 2010, respectively, and is recorded in cost of sales or selling, general and administrative costs depending on the nature and use of the underlying asset being leased. |
Profits_Interest_Awards
Profits Interest Awards | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||
Text Block [Abstract] | ' | ' | ||||||
Profits Interest Awards | ' | ' | ||||||
14 | Profits Interest Awards | 17 | Profits Interest Awards | |||||
Halkos granted, pursuant to the Halkos Equity Plan, non-voting membership interests to select members of the Company’s management titled “Class B Shares.” The Class B Shares are profits interests in Halkos. | Halkos has granted, pursuant to the Halkos Equity Plan, non-voting membership interests to select members of the Company’s management titled Class B, C and D Shares. The Class B, C and D Shares are profits interests in Halkos. | |||||||
Certain members of the Company’s management receive distributions from Halkos to the extent their Class B Shares are vested. During the nine months ended September 30, 2013 and 2012, GBC executives received $8,902 and $19,517, respectively. These distributions were accounted for by GBC as non-cash compensation expense with a corresponding increase in additional paid-in capital in the period in which the distributions were determined to be probable. | Class B Shares | |||||||
In June 2013, Halkos modified the Halkos LLC Agreement to eliminate its right to acquire all or a portion of the Class B Shares. This modification to the Halkos LLC Agreement triggered the recognition of additional non-cash compensation expense reflecting the fair value of vested Class B Shares as of the date of modification. The observable market price of the Company’s publicly traded shares was used to determine the fair value of the Class B Shares. In June 2013, the Company recognized $20,369 of incremental non-cash compensation expense as a result of the modification. | In 2007, in connection with the issuance of Class C and D Shares, Halkos issued Class B Shares to certain members of the Company’s management. Halkos issued additional Class B Shares in 2010 and 2011 to certain members of the Company’s management. Class B Shares generally vest over a period of three years. Despite the fact that these Shares are in the form of equity, the Class B Shares are considered a profit sharing plan due to certain aspects of the plan, primarily the ability of Halkos to repurchase the Shares at no cost from the employee holding such shares. Award recipients substantively derive economic value in the instrument through profit sharing distributions. Accordingly, the Class B Shares are a compensation liability award accounted for as a profit sharing arrangement by Halkos. Because the awards were granted by Halkos, an economic interest holder of the Company, to employees of the Company, distributions are accounted for by the Company as non-cash compensation expense with a corresponding increase in additional paid-in capital to reflect the deemed capital contribution by Halkos. Expense on the Class B Shares is recorded in the period in which distributions to Class B award holders are determined to be probable. | |||||||
During the years ended December 31, 2012, 2011 and 2010, certain members of the Company’s management received distributions from Halkos in the amount of $20,110, $292 and $3,452, respectively. The Company recorded the distributions as non-cash compensation expense with a corresponding increase in additional paid in capital in the period in which these distributions were determined to be probable. Non-cash compensation expense of $19,517, $885 and $3,452 is included as a component of selling, general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2012, 2011 and 2010, respectively. | ||||||||
Class C and D Shares | ||||||||
In June 2011, the Halkos limited liability company agreement was amended and the Class C and D Shares were converted to Class B Shares at fair value. No expense relative to these awards is reflected in the accompanying consolidated financial statements. The conversion was in effect a liability to liability modification and the achievement of the Class C and D Shares performance condition was not probable nor were there any probable distributions payable for Class B Shares at the time of conversion. |
Segment_Information
Segment Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||
Segment Information | ' | ' | ||||||||||||||||||||||||
15 | Segment Information | 18 | Segment Information | |||||||||||||||||||||||
The Company’s Chief Operating Decision Maker allocates resources and evaluates performance at the divisional level. As such, the Company has determined that it has three reportable segments: Olin Brass, Chase and Oster. | The Company’s Chief Operating Decision Maker allocates resources and evaluates performance at the divisional level. As such, the Company has determined that it has three reportable segments: Olin Brass, Chase and Oster. | |||||||||||||||||||||||||
Olin Brass is a leading manufacturer and converter of copper and brass sheet, strip and fabricated products. Olin Brass also rerolls and forms other alloys such as stainless, carbon steel and aluminum. Olin Brass’s products are used in five primary end markets: building and housing, | The Olin Brass segment is the leading manufacturer and converter of copper and copper-alloy sheet, strip, foil, and fabricated components in North America. While primarily processing copper and copper-alloys, the segment also rerolls and forms other metals such as stainless and carbon steel. Olin Brass’s products are used in five primary end markets: building and housing, munitions, automotive, coinage, and electronics/electrical components. | |||||||||||||||||||||||||
munitions, automotive, coinage, and electronics/electrical components. | Chase is a leading North American manufacturer of brass rod. The segment principally produces brass rod in sizes ranging from 1/4 inch to 4.5 inches in diameter. The key attributes of brass rod include its machinability, corrosion resistance and moderate strength, making it ideal for forging and machining products such as valves and fittings. Chase produces brass rod used in production applications which can be grouped into four end markets: building and housing, transportation, electronics/electrical components and industrial machinery and equipment. | |||||||||||||||||||||||||
Chase is a leading manufacturer of brass rod in North America. Chase primarily manufactures brass rod, including round and other shapes, ranging from 1/4 inch to 4.5 inches in diameter. The key attributes of brass rod include its machinability, corrosion resistance and moderate strength, making it especially suitable for forging and machining products such as valves and fittings. Brass rod is generally manufactured from copper or copper-alloy scrap. Chase produces brass rod used in production applications which can be grouped into four primary end markets: building and housing, transportation, electronics/electrical components and industrial machinery and equipment. | ||||||||||||||||||||||||||
Oster is a processing distributor of copper and copper-alloy sheet, strip and foil. Oster operates six strategically-located service centers in the United States, Puerto Rico and Mexico. Each Oster service center reliably provides a broad range of high quality products at quick lead-times in small quantities. These capabilities, combined with Oster’s operations of precision slitting, hot tinning, traverse winding, cutting, edging and special packaging, provide value to a broad customer base. Oster’s products are used in three primary end markets: building and housing, automotive and electronics/electrical components. | Oster is a leading copper-alloy distributor and processor. The segment, through its family of metal service centers, is strategically focused on satisfying its customers’ needs for brass and copper parts and other products, with a high level of service, quality and flexibility by offering customization and just-in-time delivery. Value-added processing services include precision slitting and traverse winding to provide greater customer press up-time, hot air level tinning for superior corrosion resistance and product enhancement such as edging and cutting. Important Oster end markets include building and housing, automotive, transportation, and electronics/electrical components (primarily for housing and commercial construction). | |||||||||||||||||||||||||
The Chief Operating Decision Maker evaluates performance and determines resource allocations based on a number of factors, the primary performance measure being Segment Adjusted EBITDA. | The Chief Operating Decision Maker evaluates performance and determines resource allocations based on a number of factors, the primary performance measure being Segment Adjusted EBITDA. | |||||||||||||||||||||||||
Segment Adjusted EBITDA is an EBITDA-based measure of operating performance, with EBITDA being defined by the Company as net income before depreciation and amortization, interest expense, and income taxes. The Company defines Segment Adjusted EBITDA as EBITDA further adjusted to exclude unrealized gains and losses on derivative contracts, lower of cost or market adjustments to inventory, LIFO-based gains and losses, non-cash compensation expense, share-based compensation expense, loss on extinguishment of debt and non-cash income accretion related to the Company’s joint venture investment, each of which are excluded because management believes they are not indicative of the ongoing performance of the Company’s core operations. Corporate and Other includes compensation for corporate executives and officers, corporate office and administrative salaries, and professional fees for accounting, tax and legal services. Corporate and Other also includes interest expense, state and Federal income taxes, overhead costs that management has not allocated to our operating segments and the elimination of intercompany balances. | Segment Adjusted EBITDA is an EBITDA based measure of operating performance, with EBITDA being defined by the Company as net income before depreciation and amortization, interest expense, and income taxes. The Company defines Segment Adjusted EBITDA as EBITDA further adjusted to remove the impacts of inventory values for LIFO and lower of cost or market charges, the cost of terminating certain collateral hedges, unrealized mark to market gains and losses on derivative instruments, non-cash compensation expense, loss on extinguishment of debt and non-cash income accretion related to the Company’s joint venture investment, each of which are excluded because management believes they are not indicative of the ongoing performance of the Company’s core operations. Corporate and Eliminations include corporate amounts, primarily compensation, tax and overhead costs unrelated to a specific segment, and elimination of intercompany balances. The Chief Operating Decision Maker is not provided with nor reviews assets by segment for purposes of allocating resources. | |||||||||||||||||||||||||
Below is a reconciliation of the Company’s Segment Adjusted EBITDA to income before provision for income taxes and equity income: | Below is a reconciliation of the Company’s Segment Adjusted EBITDA to income before provision for income taxes and equity income: | |||||||||||||||||||||||||
Nine Months Ended | Year Ended December 31, | |||||||||||||||||||||||||
September 30, | 2012 | 2011 | 2010 | |||||||||||||||||||||||
2013 | 2012 | Net Sales, External Customers | ||||||||||||||||||||||||
Net Sales, External Customers | Olin Brass | $ | 676,563 | $ | 718,244 | $ | 710,271 | |||||||||||||||||||
Olin Brass | $ | 613,926 | $ | 496,786 | Chase | 647,711 | 704,968 | 611,870 | ||||||||||||||||||
Chase | 488,475 | 505,951 | Oster | 326,246 | 355,931 | 336,588 | ||||||||||||||||||||
Oster | 243,277 | 251,610 | ||||||||||||||||||||||||
Total net sales, external customers | $ | 1,650,520 | $ | 1,779,143 | $ | 1,658,729 | ||||||||||||||||||||
Total net sales, external customers | $ | 1,345,678 | $ | 1,254,347 | ||||||||||||||||||||||
Intersegment Net Sales | ||||||||||||||||||||||||||
Intersegment Net Sales | Olin Brass | $ | 46,287 | $ | 48,312 | $ | 57,919 | |||||||||||||||||||
Olin Brass | $ | 40,539 | $ | 36,315 | Chase | 305 | 626 | 765 | ||||||||||||||||||
Chase | 7 | 302 | Oster | 167 | 285 | 928 | ||||||||||||||||||||
Oster | 173 | 81 | ||||||||||||||||||||||||
Total intersegment net sales | $ | 46,759 | $ | 49,223 | $ | 59,612 | ||||||||||||||||||||
Total intersegment net sales | $ | 40,719 | $ | 36,698 | ||||||||||||||||||||||
Segment Adjusted EBITDA | ||||||||||||||||||||||||||
Segment Adjusted EBITDA | Olin Brass | $ | 45,115 | $ | 45,320 | $ | 23,291 | |||||||||||||||||||
Olin Brass | $ | 41,209 | $ | 37,432 | Chase | 66,641 | 73,658 | 61,158 | ||||||||||||||||||
Chase | 53,831 | 53,311 | Oster | 19,517 | 17,898 | 21,324 | ||||||||||||||||||||
Oster | 13,164 | 15,137 | ||||||||||||||||||||||||
Total segment adjusted EBITDA | 131,273 | 136,876 | 105,773 | |||||||||||||||||||||||
Total segment adjusted EBITDA | 108,204 | 105,880 | Corporate and Eliminations | (20,562 | ) | (19,518 | ) | (15,714 | ) | |||||||||||||||||
Corporate and Other | (19,101 | ) | (14,664 | ) | Loss on extinguishment of debt | (19,612 | ) | — | — | |||||||||||||||||
Loss on extinguishment of debt | — | (19,612 | ) | Depreciation and amortization | (6,934 | ) | (4,759 | ) | (2,971 | ) | ||||||||||||||||
Depreciation and amortization | (6,101 | ) | (4,891 | ) | Interest expense | (39,727 | ) | (40,010 | ) | (25,076 | ) | |||||||||||||||
Interest expense | (29,938 | ) | (29,894 | ) | Equity method investment income | (A | ) | (271 | ) | (164 | ) | (806 | ) | |||||||||||||
Equity method investment income(A) | (605 | ) | (193 | ) | Net income attributable to noncontrolling interest | 374 | 156 | 512 | ||||||||||||||||||
Net income attributable to noncontrolling interest | 228 | 273 | LIFO liquidation gain | 4,775 | 15,236 | 21,009 | ||||||||||||||||||||
Lower of cost or market adjustment to inventory | (318 | ) | (302 | ) | Lower of cost or market adjustment to inventory | (302 | ) | — | — | |||||||||||||||||
(Loss) gain on derivative contracts | (1,062 | ) | 1,473 | Gain (loss) on derivative contracts | 1,588 | (1,095 | ) | (11,984 | ) | |||||||||||||||||
Share-based compensation expense | (989 | ) | — | Compensation expense—profits interest awards | (19,517 | ) | (885 | ) | (3,452 | ) | ||||||||||||||||
Compensation expense—profits interest awards | (29,271 | ) | (19,517 | ) | ||||||||||||||||||||||
Income before provision for income taxes and equity income | $ | 31,085 | $ | 85,837 | $ | 67,291 | ||||||||||||||||||||
Income before provision for income taxes and equity income | $ | 21,047 | $ | 18,553 | ||||||||||||||||||||||
(A) | Excludes accretion income of $724 in each of the years ended December 31, 2012, 2011 and 2010. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||
(A) | Excludes accretion income of $543 in both the nine months ended September 30, 2013 and 2012. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||
Depreciation and amortization | ||||||||||||||||||||||||||
Olin Brass | $ | 3,849 | $ | 2,622 | $ | 1,624 | ||||||||||||||||||||
Chase | 2,521 | 1,921 | 1,200 | |||||||||||||||||||||||
Oster | 247 | 196 | 147 | |||||||||||||||||||||||
Corporate and Eliminations | 317 | 20 | — | |||||||||||||||||||||||
Total depreciation and amortization | $ | 6,934 | $ | 4,759 | $ | 2,971 | ||||||||||||||||||||
LIFO liquidation gain/(loss) | ||||||||||||||||||||||||||
Olin Brass | $ | 175 | $ | 8,401 | $ | 23,253 | ||||||||||||||||||||
Chase | 1,623 | — | 75 | |||||||||||||||||||||||
Oster | 4,478 | 7,050 | (48 | ) | ||||||||||||||||||||||
Corporate and Eliminations | (1,501 | ) | (215 | ) | (2,271 | ) | ||||||||||||||||||||
Total LIFO liquidation gain | $ | 4,775 | $ | 15,236 | $ | 21,009 | ||||||||||||||||||||
Capital expenditures | ||||||||||||||||||||||||||
Olin Brass | $ | 12,455 | $ | 10,818 | $ | 3,999 | ||||||||||||||||||||
Chase | 6,846 | 10,171 | 7,377 | |||||||||||||||||||||||
Oster | 558 | 505 | 551 | |||||||||||||||||||||||
Corporate and Eliminations | 549 | 946 | — | |||||||||||||||||||||||
Total capital expenditures | $ | 20,408 | $ | 22,440 | $ | 11,927 | ||||||||||||||||||||
Summarized geographic information is shown in the following table. Net sales are attributed to individual countries based on the location from which the products are shipped. No customer represented 10 percent or more of consolidated revenues in 2012, 2011 or 2010. | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||
Net sales: | ||||||||||||||||||||||||||
United States | $ | 1,556,865 | $ | 1,691,007 | $ | 1,567,472 | ||||||||||||||||||||
Asia Pacific | 53,668 | 54,638 | 62,358 | |||||||||||||||||||||||
Mexico | 39,987 | 33,498 | 28,899 | |||||||||||||||||||||||
Total net sales | $ | 1,650,520 | $ | 1,779,143 | $ | 1,658,729 | ||||||||||||||||||||
Substantially all long-lived assets are maintained in the United States. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Earnings Per Share | ' | ||||||||
16 | Earnings Per Share | ||||||||
Basic earnings per share is computed based on the weighted-average number of common shares outstanding and diluted earnings per share is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued. Potentially dilutive securities include stock options and nonvested share awards. Nonvested performance-based share awards are included in the average diluted shares outstanding for each period if established performance criteria have been met at the end of the respective periods. | |||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to the Company: | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Numerator | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,205 | $ | 5,020 | |||||
Denominator | |||||||||
Weighted-average common shares outstanding | 21,110,000 | 21,110,000 | |||||||
Effect of potentially dilutive securities: | |||||||||
Stock options and nonvested share awards | 24,169 | — | |||||||
Weighted-average common shares outstanding, assuming dilution | 21,134,169 | 21,110,000 | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||
Basic | $ | 0.2 | $ | 0.24 | |||||
Diluted | $ | 0.2 | $ | 0.24 | |||||
During the nine months ended September 30, 2013, the Company granted 107,895 options to purchase shares of common stock, 141,486 nonvested shares of restricted stock, and 101,754 nonvested performance-based shares to certain members of the Company’s management and its Board of Directors. The computation of weighted-average common shares outstanding, assuming dilution, for the nine months ended September 30, 2013, includes the average common shares outstanding that would result from the assumed exercise of outstanding stock options and vesting of restricted stock awards. Nonvested performance-based shares are excluded from the computation because the established performance criterion was not met at September 30, 2013. |
Stock_Split
Stock Split | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||
Text Block [Abstract] | ' | ' | ||||||
Stock Split | ' | ' | ||||||
17 | Stock Split | 20 | Stock Split | |||||
On April 10, 2013 the Company’s Board of Directors authorized a 211,100-to-1 stock split to be effected after the effective date of the Company’s Form S-1 Registration Statement and prior to the completion of the Company’s initial public offering. On May 29, 2013, the Company completed its initial public offering of 8,050,000 shares of its common stock at a price of $11.00 per share. The share numbers and per share amounts disclosed in the consolidated financial statements and notes to consolidated financial statements have been retroactively adjusted to give effect to the stock split. | On April 10, 2013 the Company’s Board of Directors authorized a 211,100-to-1 stock split to be effected after the effective date of the Company’s Form S-1 Registration Statement and prior to the completion of the Company’s IPO. On May 29, 2013, the Company completed its IPO. The share numbers and per share amounts disclosed in the consolidated financial statements and notes to consolidated financial statements have been retroactively adjusted to give effect to the stock split. | |||||||
The balance sheets have been retroactively adjusted for the impact of the stock split by an increase to common stock of $211 with an offsetting charge to accumulated deficit. | The balance sheets have been retroactively adjusted for the impact of the stock split by an increase to common stock of $211 with an offsetting charge to accumulated deficit. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Financial Information | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
18 | Condensed Consolidating Financial Information | 19 | Condensed Consolidating Financial Information | |||||||||||||||||||||||||||||||||||||||||||||||
In June 2012, Holdings (presented as “Parent” in the following tables), through its wholly-owned principal operating subsidiary, GBC (presented as “Issuer” in the following tables), issued Senior Secured Notes as further described in note 8, “Financing”. The Senior Secured Notes are jointly and severally guaranteed on a senior secured basis by Holdings and substantially all existing | In June 2012, Holdings (presented as “Parent” in the following tables), through its wholly-owned principal operating subsidiary, GBC (presented as “Issuer” in the following tables), issued Senior Secured Notes as further described in note 10. The Senior Secured Notes are jointly and severally guaranteed on a senior secured basis by Holdings and substantially all existing 100%-owned U.S. subsidiaries of GBC (collectively, the “Guarantors”). The guarantees are full and unconditional, except that a Guarantor can be automatically released and relieved of its obligations under certain customary provisions contained in the indenture governing the Senior Secured Notes. Under these customary provisions, a Guarantor is automatically released from its obligations as a guarantor upon the sale of the Guarantor or substantially all of its assets to a third party, the designation of the Guarantor as an unrestricted subsidiary in accordance with the terms of the indenture, the release or discharge of all guarantees by such Guarantor and the repayment of all indebtedness, or upon the Issuer’s exercise of its legal defeasance option or covenant defeasance option or if the obligations under the indenture are discharged in accordance with the terms of the indenture. All other subsidiaries of GBC, whether direct or indirect, do not guarantee the Senior Secured Notes (collectively, the “Non-Guarantors”). | |||||||||||||||||||||||||||||||||||||||||||||||||
Holdings is also a guarantor of the asset-based revolving loan facility (the “ABL Facility”) and substantially all of its 100%-owned U.S. subsidiaries are borrowers under, or guarantors of, the ABL Facility on a senior secured basis. | ||||||||||||||||||||||||||||||||||||||||||||||||||
100%-owned U.S. subsidiaries of GBC and any future restricted subsidiaries who guarantee or incur certain types of Permitted Debt under the Indenture (collectively, the “Guarantors”). The guarantees are full and unconditional, except that a Guarantor can be automatically released and relieved of its obligations under certain customary provisions contained in the Indenture. Under these customary provisions, a Guarantor is automatically released from its obligations as a guarantor upon the sale of the Guarantor or substantially all of its assets to a third party, the designation of the Guarantor as an unrestricted subsidiary in accordance with the terms of the Indenture, the release or discharge of all guarantees by such Guarantor and the repayment of all indebtedness, or upon the Issuer’s exercise of its legal defeasance option or covenant defeasance option or if the obligations under the Indenture are discharged in accordance with the terms of the Indenture. All other subsidiaries of GBC, whether direct or indirect, do not guarantee the Senior Secured Notes (collectively, the “Non-Guarantors”). | The following condensed consolidating financial information presents the financial position, results of operations, comprehensive income and cash flows of (1) the Parent, (2) the Issuer, (3) the Guarantors, (4) the Non-Guarantors and (5) eliminations to arrive at the information for Holdings on a consolidated basis. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, comprehensive income or cash flows of the Parent, the Issuer, the Guarantors or the Non-Guarantors on a stand-alone basis. | |||||||||||||||||||||||||||||||||||||||||||||||||
Holdings is also a guarantor of the ABL Facility and substantially all of its 100%-owned U.S. subsidiaries are borrowers under, or guarantors of, the ABL Facility on a senior secured basis. | ||||||||||||||||||||||||||||||||||||||||||||||||||
The following condensed consolidating financial information presents the financial position, results of operations, comprehensive income and cash flows 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. The condensed consolidating financial information presented below is not necessarily indicative of the financial position, results of operations, comprehensive income or cash flows of the Parent, the Issuer, the Guarantors or the Non-Guarantors on a stand-alone basis. | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||
Assets | Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Current assets: | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ | — | $ | 11,164 | $ | 2,633 | $ | 4,291 | $ | — | $ | 18,088 | Cash | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | ||||||||||||||||||||||||
Accounts receivable, net of allowance | — | 4,914 | 176,272 | 17,287 | — | 198,473 | Accounts receivable, net of allowance | — | 4,630 | 144,533 | 15,154 | — | 164,317 | |||||||||||||||||||||||||||||||||||||
Inventories | — | — | 193,825 | 15,363 | (410 | ) | 208,778 | Inventories | — | 343 | 158,713 | 15,885 | (563 | ) | 174,378 | |||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 10,064 | 16,441 | 86 | — | 26,591 | Prepaid expenses and other current assets | — | 9,229 | 2,600 | 312 | — | 12,141 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 32,122 | — | — | — | 32,122 | Deferred income taxes | — | 33,465 | — | — | — | 33,465 | |||||||||||||||||||||||||||||||||||||
Income tax receivable, net | — | 799 | — | — | (174 | ) | 625 | Income tax receivable, net | — | 1,656 | — | — | (356 | ) | 1,300 | |||||||||||||||||||||||||||||||||||
Total current assets | — | 59,063 | 389,171 | 37,027 | (584 | ) | 484,677 | Total current assets | — | 57,860 | 305,846 | 36,797 | (1,040 | ) | 399,463 | |||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 976 | 76,810 | 351 | — | 78,137 | Property, plant and equipment, net | — | 1,154 | 69,646 | 327 | — | 71,127 | |||||||||||||||||||||||||||||||||||||
Investment in joint venture | — | — | 2,184 | — | — | 2,184 | Investment in joint venture | — | — | 2,972 | — | — | 2,972 | |||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | — | 623,442 | 19,974 | — | (643,416 | ) | — | Investment in subsidiaries | — | 522,912 | 19,850 | — | (542,762 | ) | — | |||||||||||||||||||||||||||||||||||
Intercompany accounts | — | — | 270,599 | — | (270,599 | ) | — | Intercompany accounts | — | — | 223,081 | — | (223,081 | ) | — | |||||||||||||||||||||||||||||||||||
Goodwill | — | — | 4,399 | — | — | 4,399 | Goodwill | — | — | 4,399 | — | — | 4,399 | |||||||||||||||||||||||||||||||||||||
Intangible assets, net | — | — | 762 | — | — | 762 | Intangible assets, net | — | — | 839 | — | — | 839 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 5,736 | — | — | — | 5,736 | Deferred income taxes | — | 6,138 | — | — | — | 6,138 | |||||||||||||||||||||||||||||||||||||
Other noncurrent assets | — | 15,705 | 915 | — | — | 16,620 | Other noncurrent assets | — | 17,115 | 640 | — | — | 17,755 | |||||||||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 704,922 | $ | 764,814 | $ | 37,378 | $ | (914,599 | ) | $ | 592,515 | Total assets | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | |||||||||||||||||||||||
Liabilities and (deficit) / equity | Liabilities and (deficit) / equity | |||||||||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | — | $ | 2,455 | $ | 101,105 | $ | 2,161 | $ | (410 | ) | $ | 105,311 | Accounts payable | $ | — | $ | 1,398 | $ | 77,390 | $ | 2,910 | $ | (121 | ) | $ | 81,577 | |||||||||||||||||||||||
Accrued liabilities | — | 18,710 | 40,232 | 697 | — | 59,639 | Accrued liabilities | — | 20,592 | 26,971 | 861 | — | 48,424 | |||||||||||||||||||||||||||||||||||||
Accrued interest | — | 12,448 | — | — | — | 12,448 | Accrued interest | — | 3,287 | — | — | — | 3,287 | |||||||||||||||||||||||||||||||||||||
Income tax payable | — | — | 35 | 295 | (174 | ) | 156 | Income taxes payable | — | 248 | — | 356 | (356 | ) | 248 | |||||||||||||||||||||||||||||||||||
Total current liabilities | — | 33,613 | 141,372 | 3,153 | (584 | ) | 177,554 | Total current liabilities | — | 25,525 | 104,361 | 4,127 | (477 | ) | 133,536 | |||||||||||||||||||||||||||||||||||
Long-term debt | — | 397,500 | — | — | — | 397,500 | Long-term debt | — | 389,522 | — | — | — | 389,522 | |||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 26,312 | — | — | — | 26,312 | Other noncurrent liabilities | — | 27,436 | — | — | — | 27,436 | |||||||||||||||||||||||||||||||||||||
Obligations and advances in excess of investment in subsidiary | 5,447 | — | — | — | (5,447 | ) | — | Obligations and advances in excess of investment in subsidiary | 42,522 | — | — | — | (42,522 | ) | — | |||||||||||||||||||||||||||||||||||
Intercompany accounts | 7,269 | 252,944 | — | 10,386 | (270,599 | ) | — | Intercompany accounts | 8,829 | 205,218 | — | 9,597 | (223,644 | ) | — | |||||||||||||||||||||||||||||||||||
Total liabilities | 12,716 | 710,369 | 141,372 | 13,539 | (276,630 | ) | 601,366 | Total liabilities | 51,351 | 647,701 | 104,361 | 13,724 | (266,643 | ) | 550,494 | |||||||||||||||||||||||||||||||||||
Commitments and contingencies | — | — | — | — | — | — | Commitments and contingencies | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholders’ (deficit) / equity | (12,716 | ) | (5,447 | ) | 623,442 | 19,974 | (637,969 | ) | (12,716 | ) | Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 19,850 | (500,240 | ) | (51,351 | ) | |||||||||||||||||||||||||||||
Noncontrolling interest | — | — | — | 3,865 | — | 3,865 | Noncontrolling interest | — | — | — | 3,550 | — | 3,550 | |||||||||||||||||||||||||||||||||||||
Total (deficit) / equity | (12,716 | ) | (5,447 | ) | 623,442 | 23,839 | (637,969 | ) | (8,851 | ) | Total (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 23,400 | (500,240 | ) | (47,801 | ) | |||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | — | $ | 704,922 | $ | 764,814 | $ | 37,378 | $ | (914,599 | ) | $ | 592,515 | Total liabilities and (deficit) / equity | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | |||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | 31-Dec-11 | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | Assets | ||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance | — | 4,630 | 144,533 | 15,154 | — | 164,317 | Current assets: | |||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 343 | 158,713 | 15,885 | (563 | ) | 174,378 | Cash | $ | — | $ | 45,302 | $ | — | $ | 4,648 | $ | (413 | ) | $ | 49,537 | |||||||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 9,229 | 2,600 | 312 | — | 12,141 | Accounts receivable, net of allowance | — | 4,184 | 145,083 | 12,448 | — | 161,715 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 33,465 | — | — | — | 33,465 | Inventories | — | 218 | 174,429 | 11,921 | (621 | ) | 185,947 | ||||||||||||||||||||||||||||||||||||
Income tax receivable, net | — | 1,656 | — | — | (356 | ) | 1,300 | Prepaid expenses and other current assets | — | 17,916 | 2,245 | 135 | (384 | ) | 19,912 | |||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 29,027 | — | — | — | 29,027 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 57,860 | 305,846 | 36,797 | (1,040 | ) | 399,463 | Income tax receivable, net | — | 5,204 | 128 | — | (286 | ) | 5,046 | |||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 1,154 | 69,646 | 327 | — | 71,127 | ||||||||||||||||||||||||||||||||||||||||||||
Investment in joint venture | — | — | 2,972 | — | — | 2,972 | Total current assets | — | 101,851 | 321,885 | 29,152 | (1,704 | ) | 451,184 | ||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | — | 522,912 | 19,850 | — | (542,762 | ) | — | Property, plant and equipment, net | — | 923 | 56,322 | 311 | — | 57,556 | ||||||||||||||||||||||||||||||||||||
Intercompany accounts | — | — | 223,081 | — | (223,081 | ) | — | Investment in joint venture | — | — | 3,507 | — | — | 3,507 | ||||||||||||||||||||||||||||||||||||
Goodwill | — | — | 4,399 | — | — | 4,399 | Investment in subsidiaries | 85,020 | 393,708 | 13,351 | — | (492,079 | ) | — | ||||||||||||||||||||||||||||||||||||
Intangible assets, net | — | — | 839 | — | — | 839 | Intercompany accounts | — | — | 92,889 | — | (92,889 | ) | — | ||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 6,138 | — | — | — | 6,138 | Goodwill | — | — | 4,399 | — | — | 4,399 | |||||||||||||||||||||||||||||||||||||
Other noncurrent assets | — | 17,115 | 640 | — | — | 17,755 | Intangible assets, net | — | — | 951 | — | — | 951 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 19,970 | — | — | — | 19,970 | ||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | Other noncurrent assets | — | 9,963 | 1,210 | — | — | 11,173 | ||||||||||||||||||||||||||||||
Liabilities and (deficit) / equity | Total assets | $ | 85,020 | $ | 526,415 | $ | 494,514 | $ | 29,463 | $ | (586,672 | ) | $ | 548,740 | ||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | — | $ | 1,398 | $ | 77,390 | $ | 2,910 | $ | (121 | ) | $ | 81,577 | Liabilities and (deficit) / equity | ||||||||||||||||||||||||||||||||||||
Accrued liabilities | — | 20,592 | 26,971 | 861 | — | 48,424 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | — | 3,287 | — | — | — | 3,287 | Current maturities of long-term debt | $ | — | $ | 31,880 | $ | — | $ | — | $ | — | $ | 31,880 | |||||||||||||||||||||||||||||||
Income tax payable | — | 248 | — | 356 | (356 | ) | 248 | Accounts payable | — | — | 76,190 | 2,495 | (797 | ) | 77,888 | |||||||||||||||||||||||||||||||||||
Accrued liabilities | — | 23,202 | 24,616 | 786 | — | 48,604 | ||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | — | 25,525 | 104,361 | 4,127 | (477 | ) | 133,536 | Accrued interest | — | 4,069 | — | — | — | 4,069 | ||||||||||||||||||||||||||||||||||||
Long-term debt | — | 389,522 | — | — | — | 389,522 | Income taxes payable | — | 300 | — | 286 | (286 | ) | 300 | ||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 27,436 | — | — | — | 27,436 | ||||||||||||||||||||||||||||||||||||||||||||
Obligations and advances in excess of investment in subsidiary | 42,522 | — | — | — | (42,522 | ) | — | Total current liabilities | — | 59,451 | 100,806 | 3,567 | (1,083 | ) | 162,741 | |||||||||||||||||||||||||||||||||||
Intercompany accounts | 8,829 | 205,218 | — | 9,597 | (223,644 | ) | — | Long-term debt | — | 271,698 | — | — | — | 271,698 | ||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 31,641 | — | — | — | 31,641 | ||||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 51,351 | 647,701 | 104,361 | 13,724 | (266,643 | ) | 550,494 | Intercompany accounts | 5,528 | 78,605 | — | 9,377 | (93,510 | ) | — | |||||||||||||||||||||||||||||||||||
Commitments and contingencies | — | — | — | — | — | — | Total liabilities | 5,528 | 441,395 | 100,806 | 12,944 | (94,593 | ) | 466,080 | ||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholders’ (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 19,850 | (500,240 | ) | (51,351 | ) | ||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest | — | — | — | 3,550 | — | 3,550 | Commitments and contingencies | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity | 79,492 | 85,020 | 393,708 | 13,351 | (492,079 | ) | 79,492 | |||||||||||||||||||||||||||||||||||||||||||
Total (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 23,400 | (500,240 | ) | (47,801 | ) | Noncontrolling interest | — | — | — | 3,168 | — | 3,168 | |||||||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | Total (deficit) / equity | 79,492 | 85,020 | 393,708 | 16,519 | (492,079 | ) | 82,660 | |||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | 85,020 | $ | 526,415 | $ | 494,514 | $ | 29,463 | $ | (586,672 | ) | $ | 548,740 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,294,809 | $ | 73,586 | $ | (22,717 | ) | $ | 1,345,678 | |||||||||||||||||||||||||||||||||||||
Cost of sales | — | 1,208 | 1,155,186 | 68,138 | (22,717 | ) | 1,201,815 | |||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | — | (1,208 | ) | 139,623 | 5,448 | — | 143,863 | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 5,390 | 33,569 | 51,444 | 2,219 | — | 92,622 | Net sales | $ | — | $ | — | $ | 1,584,301 | $ | 93,655 | $ | (27,436 | ) | $ | 1,650,520 | ||||||||||||||||||||||||||||||
Cost of sales | — | 83 | 1,409,588 | 85,099 | (27,436 | ) | 1,467,334 | |||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (5,390 | ) | (34,777 | ) | 88,179 | 3,229 | — | 51,241 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | — | 29,938 | — | — | — | 29,938 | Gross profit (loss) | — | (83 | ) | 174,713 | 8,556 | — | 183,186 | ||||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 264 | (134 | ) | 126 | — | 256 | Selling, general and administrative expenses | 1,427 | 30,756 | 57,879 | 2,579 | — | 92,641 | ||||||||||||||||||||||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | (5,390 | ) | (64,979 | ) | 88,313 | 3,103 | — | 21,047 | Operating income (loss) | (1,427 | ) | (30,839 | ) | 116,834 | 5,977 | — | 90,545 | |||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (2,075 | ) | (15,753 | ) | 34,676 | 914 | — | 17,762 | Interest expense | — | 39,730 | (3 | ) | — | — | 39,727 | ||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | — | 19,612 | — | — | — | 19,612 | ||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (3,315 | ) | (49,226 | ) | 53,637 | 2,189 | — | 3,285 | Other (income) expense, net | — | 766 | (120 | ) | (525 | ) | — | 121 | |||||||||||||||||||||||||||||||||
Equity income, net of tax | 7,520 | 56,746 | 3,109 | — | (66,227 | ) | 1,148 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before provision for income taxes and equity income | (1,427 | ) | (90,947 | ) | 116,957 | 6,502 | — | 31,085 | ||||||||||||||||||||||||||||||||||||||||||
Net income | 4,205 | 7,520 | 56,746 | 2,189 | (66,227 | ) | 4,433 | Provision for (benefit from) income taxes | (550 | ) | (30,066 | ) | 47,828 | 1,973 | — | 19,185 | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 228 | — | 228 | ||||||||||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (877 | ) | (60,881 | ) | 69,129 | 4,529 | — | 11,900 | ||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,205 | $ | 7,520 | $ | 56,746 | $ | 1,961 | $ | (66,227 | ) | $ | 4,205 | Equity income, net of tax | 13,398 | 74,279 | 5,150 | — | (91,832 | ) | 995 | |||||||||||||||||||||||||||||
Net income | 12,521 | 13,398 | 74,279 | 4,529 | (91,832 | ) | 12,895 | |||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 374 | — | 374 | ||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 12,521 | $ | 13,398 | $ | 74,279 | $ | 4,155 | $ | (91,832 | ) | $ | 12,521 | ||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,204,470 | $ | 69,679 | $ | (19,802 | ) | $ | 1,254,347 | Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||
Cost of sales | — | (1,896 | ) | 1,071,405 | 63,168 | (19,802 | ) | 1,112,875 | Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross profit | — | 1,896 | 133,065 | 6,511 | — | 141,472 | ||||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 1,086 | 26,223 | 43,969 | 1,963 | — | 73,241 | ||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (1,086 | ) | (24,327 | ) | 89,096 | 4,548 | — | 68,231 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||
Interest expense (income) | — | 29,896 | (2 | ) | — | — | 29,894 | Net sales | $ | — | $ | — | $ | 1,713,367 | $ | 88,136 | $ | (22,360 | ) | $ | 1,779,143 | |||||||||||||||||||||||||||||
Loss on extinguishment of debt | — | 19,612 | — | — | — | 19,612 | Cost of sales | — | 735 | 1,523,655 | 81,443 | (22,360 | ) | 1,583,473 | ||||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 689 | 2 | (519 | ) | — | 172 | |||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | — | (735 | ) | 189,712 | 6,693 | — | 195,670 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | (1,086 | ) | (74,524 | ) | 89,096 | 5,067 | — | 18,553 | Selling, general and administrative expenses | 1,650 | 15,721 | 49,451 | 2,569 | — | 69,391 | |||||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (418 | ) | (24,813 | ) | 38,710 | 517 | — | 13,996 | ||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (1,650 | ) | (16,456 | ) | 140,261 | 4,124 | — | 126,279 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (668 | ) | (49,711 | ) | 50,386 | 4,550 | — | 4,557 | Interest expense | — | 39,950 | 60 | — | — | 40,010 | |||||||||||||||||||||||||||||||||||
Equity income, net of tax | 5,688 | 55,399 | 5,013 | — | (65,364 | ) | 736 | Other (income) expense, net | — | 292 | 317 | (177 | ) | — | 432 | |||||||||||||||||||||||||||||||||||
Net income | 5,020 | 5,688 | 55,399 | 4,550 | (65,364 | ) | 5,293 | Income (loss) before provision for income taxes and equity income | (1,650 | ) | (56,698 | ) | 139,884 | 4,301 | — | 85,837 | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 273 | — | 273 | Provision for (benefit from) income taxes | (635 | ) | (20,765 | ) | 51,662 | 1,175 | — | 31,437 | |||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 5,020 | $ | 5,688 | $ | 55,399 | $ | 4,277 | $ | (65,364 | ) | $ | 5,020 | Income (loss) before equity income | (1,015 | ) | (35,933 | ) | 88,222 | 3,126 | — | 54,400 | ||||||||||||||||||||||||||||
Equity income, net of tax | 56,147 | 92,080 | 3,858 | — | (151,197 | ) | 888 | |||||||||||||||||||||||||||||||||||||||||||
Net income | 55,132 | 56,147 | 92,080 | 3,126 | (151,197 | ) | 55,288 | |||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | Less: Net income attributable to noncontrolling interest | — | — | — | 156 | — | 156 | |||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 55,132 | $ | 56,147 | $ | 92,080 | $ | 2,970 | $ | (151,197 | ) | $ | 55,132 | |||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 4,205 | $ | 7,520 | $ | 56,746 | $ | 2,189 | $ | (66,227 | ) | $ | 4,433 | |||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment, net of tax | (705 | ) | (705 | ) | (1,181 | ) | 340 | 1,633 | (618 | ) | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | 3,500 | 6,815 | 55,565 | 2,529 | (64,594 | ) | 3,815 | Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 315 | — | 315 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 3,500 | $ | 6,815 | $ | 55,565 | $ | 2,214 | $ | (64,594 | ) | $ | 3,500 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,599,714 | $ | 91,256 | $ | (32,241 | ) | $ | 1,658,729 | |||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,759 | 1,428,661 | 83,516 | (32,241 | ) | 1,496,695 | |||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Gross profit (loss) | — | (16,759 | ) | 171,053 | 7,740 | — | 162,034 | ||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Selling, general and administrative expenses | 1,102 | 12,337 | 52,988 | 2,430 | — | 68,857 | ||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 5,020 | $ | 5,688 | $ | 55,399 | $ | 4,550 | $ | (65,364 | ) | $ | 5,293 | Operating income (loss) | (1,102 | ) | (29,096 | ) | 118,065 | 5,310 | — | 93,177 | ||||||||||||||||||||||||||||
Foreign currency translation adjustment, net of tax | (130 | ) | (130 | ) | (200 | ) | 983 | (653 | ) | (130 | ) | Interest expense | — | 25,070 | 6 | — | — | 25,076 | ||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 668 | 219 | (77 | ) | — | 810 | |||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | 4,890 | 5,558 | 55,199 | 5,533 | (66,017 | ) | 5,163 | |||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 273 | — | 273 | Income (loss) before provision for income taxes and equity income | (1,102 | ) | (54,834 | ) | 117,840 | 5,387 | — | 67,291 | |||||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (424 | ) | (20,214 | ) | 46,093 | 1,221 | — | 26,676 | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,890 | $ | 5,558 | $ | 55,199 | $ | 5,260 | $ | (66,017 | ) | $ | 4,890 | |||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (678 | ) | (34,620 | ) | 71,747 | 4,166 | — | 40,615 | ||||||||||||||||||||||||||||||||||||||||||
Equity income, net of tax | 42,311 | 76,931 | 5,184 | — | (122,896 | ) | 1,530 | |||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | Net income | 41,633 | 42,311 | 76,931 | 4,166 | (122,896 | ) | 42,145 | ||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Less: Net income attributable to noncontrolling interest | — | — | — | 512 | — | 512 | |||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 41,633 | $ | 42,311 | $ | 76,931 | $ | 3,654 | $ | (122,896 | ) | $ | 41,633 | |||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | (5,275 | ) | $ | 15,537 | $ | 1,024 | $ | (6,754 | ) | $ | 4,532 | ||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (76 | ) | (13,074 | ) | (55 | ) | — | (13,205 | ) | Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||||||||||||
Payable to subsidiaries | (4,875 | ) | — | — | — | 4,875 | — | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 170 | 4 | — | 174 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (4,875 | ) | (76 | ) | (12,904 | ) | (51 | ) | 4,875 | (13,031 | ) | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||
Cash flows from financing activities | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 337,236 | — | — | — | 337,236 | Net income | $ | 12,521 | $ | 13,398 | $ | 74,279 | $ | 4,529 | $ | (91,832 | ) | $ | 12,895 | ||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (329,258 | ) | — | — | — | (329,258 | ) | Other comprehensive income (loss): | |||||||||||||||||||||||||||||||||||||||||
Distribution to stockholder | — | — | — | (2,000 | ) | 2,000 | — | Foreign currency translation adjustment | (457 | ) | (457 | ) | (521 | ) | 1,060 | (74 | ) | (449 | ) | |||||||||||||||||||||||||||||||
Net payments (amounts due) from stockholder | 4,875 | — | — | — | — | 4,875 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | 12,064 | 12,941 | 73,758 | 5,589 | (91,906 | ) | 12,446 | |||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 4,875 | 7,978 | — | (2,000 | ) | 2,000 | 12,853 | Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 382 | — | 382 | ||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (128 | ) | — | (128 | ) | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 12,064 | $ | 12,941 | $ | 73,758 | $ | 5,207 | $ | (91,906 | ) | $ | 12,064 | |||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash | — | 2,627 | 2,633 | (1,155 | ) | 121 | 4,226 | |||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of period | — | 8,537 | — | 5,446 | (121 | ) | 13,862 | |||||||||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash at end of period | $ | — | $ | 11,164 | $ | 2,633 | $ | 4,291 | $ | — | $ | 18,088 | Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Net income | $ | 55,132 | $ | 56,147 | $ | 92,080 | $ | 3,126 | $ | (151,197 | ) | $ | 55,288 | |||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | Foreign currency translation adjustment | 362 | 362 | 415 | (417 | ) | (253 | ) | 469 | |||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used for) operating activities | $ | 73,624 | $ | 49,063 | $ | 10,765 | $ | (30 | ) | $ | (75,170 | ) | $ | 58,252 | ||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | Comprehensive income | 55,494 | 56,509 | 92,495 | 2,709 | (151,450 | ) | 55,757 | ||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (549 | ) | (10,790 | ) | (21 | ) | — | (11,360 | ) | Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 263 | — | 263 | |||||||||||||||||||||||||||||||||
Capital distributions from subsidiary | 86,376 | — | — | (86,376 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||
Payable to subsidiaries | 2,398 | — | — | — | (2,398 | ) | — | Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 55,494 | $ | 56,509 | $ | 92,495 | $ | 2,446 | $ | (151,450 | ) | $ | 55,494 | |||||||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 25 | — | — | 25 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 88,774 | (549 | ) | (10,765 | ) | (21 | ) | (88,774 | ) | (11,335 | ) | Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (12,981 | ) | — | — | — | (12,981 | ) | Year Ended December 31, 2010 | |||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured notes | — | 375,000 | — | — | — | 375,000 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on term loan | — | (310,875 | ) | — | — | — | (310,875 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 142,400 | — | — | — | 142,400 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (113,900 | ) | — | — | — | (113,900 | ) | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||
Distribution to stockholder | (160,000 | ) | (160,000 | ) | — | — | 160,000 | (160,000 | ) | Net income | $ | 41,633 | $ | 42,311 | $ | 76,931 | $ | 4,166 | $ | (122,896 | ) | $ | 42,145 | |||||||||||||||||||||||||||
Amounts due from stockholder | (2,398 | ) | — | — | — | — | (2,398 | ) | Other comprehensive income (loss): | |||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 442 | 442 | 1,430 | (1,741 | ) | (60 | ) | 513 | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (162,398 | ) | (80,356 | ) | — | — | 160,000 | (82,754 | ) | |||||||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (682 | ) | — | (682 | ) | Comprehensive income | 42,075 | 42,753 | 78,361 | 2,425 | (122,956 | ) | 42,658 | ||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 583 | — | 583 | ||||||||||||||||||||||||||||||||||||||||||||
Net decrease in cash | — | (31,842 | ) | — | (733 | ) | (3,944 | ) | (36,519 | ) | ||||||||||||||||||||||||||||||||||||||||
Cash at beginning of period | — | 45,302 | — | 4,648 | (413 | ) | 49,537 | Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 42,075 | $ | 42,753 | $ | 78,361 | $ | 1,842 | $ | (122,956 | ) | $ | 42,075 | |||||||||||||||||||||||||||||
Cash at end of period | $ | — | $ | 13,460 | $ | — | $ | 3,915 | $ | (4,357 | ) | $ | 13,018 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 73,624 | $ | 58,118 | $ | 19,781 | $ | 1,299 | $ | (70,908 | ) | $ | 81,914 | |||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (549 | ) | (19,813 | ) | (46 | ) | — | (20,408 | ) | ||||||||||||||||||||||||||||||||||||||||
Capital distributions from subsidiary | 86,376 | — | — | — | (86,376 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Payable to subsidiaries | 2,424 | — | — | — | (2,424 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other | — | — | 32 | — | — | 32 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 88,800 | (549 | ) | (19,781 | ) | (46 | ) | (88,800 | ) | (20,376 | ) | |||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (12,981 | ) | — | — | — | (12,981 | ) | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured notes | — | 375,000 | — | — | — | 375,000 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on term loan | — | (310,875 | ) | — | — | — | (310,875 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 204,275 | — | — | — | 204,275 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (189,753 | ) | — | — | — | (189,753 | ) | ||||||||||||||||||||||||||||||||||||||||||
Distributions to stockholder | (160,000 | ) | (160,000 | ) | — | — | 160,000 | (160,000 | ) | |||||||||||||||||||||||||||||||||||||||||
Amounts due from stockholder | (2,424 | ) | — | — | — | — | (2,424 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (162,424 | ) | (94,334 | ) | — | — | 160,000 | (96,758 | ) | |||||||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (455 | ) | — | (455 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in cash | — | (36,765 | ) | — | 798 | 292 | (35,675 | ) | ||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of year | — | 45,302 | — | 4,648 | (413 | ) | 49,537 | |||||||||||||||||||||||||||||||||||||||||||
Cash at end of year | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | — | $ | 37,381 | $ | 22,250 | $ | 2,687 | $ | 2,530 | $ | 64,848 | ||||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (946 | ) | (21,429 | ) | (65 | ) | — | (22,440 | ) | ||||||||||||||||||||||||||||||||||||||||
Payable to subsidiaries | 2,451 | — | — | — | (2,451 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Other | — | — | 95 | 2 | — | 97 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 2,451 | (946 | ) | (21,334 | ) | (63 | ) | (2,451 | ) | (22,343 | ) | |||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (1,675 | ) | — | — | — | (1,675 | ) | ||||||||||||||||||||||||||||||||||||||||||
Payments on term loan | — | (3,300 | ) | — | — | — | (3,300 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 168,021 | — | — | — | 168,021 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (168,021 | ) | — | — | — | (168,021 | ) | ||||||||||||||||||||||||||||||||||||||||||
Principal payments under capital lease obligation | — | — | (916 | ) | — | — | (916 | ) | ||||||||||||||||||||||||||||||||||||||||||
Amounts due from stockholder | (2,451 | ) | — | — | — | — | (2,451 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (2,451 | ) | (4,975 | ) | (916 | ) | — | — | (8,342 | ) | ||||||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (149 | ) | — | (149 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase in cash | — | 31,460 | — | 2,475 | 79 | 34,014 | ||||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of year | — | 13,842 | — | 2,173 | (492 | ) | 15,523 | |||||||||||||||||||||||||||||||||||||||||||
Cash at end of year | $ | — | $ | 45,302 | $ | — | $ | 4,648 | $ | (413 | ) | $ | 49,537 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 42,500 | $ | 60,079 | $ | 9,237 | $ | 590 | $ | (42,992 | ) | $ | 69,414 | |||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | (11,664 | ) | (263 | ) | — | (11,927 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | — | — | 39 | — | — | 39 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | — | — | (11,625 | ) | (263 | ) | — | (11,888 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (15,131 | ) | — | — | — | (15,131 | ) | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from term loan | — | 305,550 | — | — | — | 305,550 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on term loan | — | (825 | ) | — | — | — | (825 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 1,096,578 | — | — | — | 1,096,578 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (1,272,197 | ) | — | — | — | (1,272,197 | ) | ||||||||||||||||||||||||||||||||||||||||||
Principal payments under capital lease obligation | — | — | (52 | ) | — | — | (52 | ) | ||||||||||||||||||||||||||||||||||||||||||
Payments on related party debt | — | (119,805 | ) | — | — | — | (119,805 | ) | ||||||||||||||||||||||||||||||||||||||||||
Distribution to stockholder | (42,500 | ) | (42,500 | ) | — | — | 42,500 | (42,500 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash overdrafts | — | (1,228 | ) | — | — | — | (1,228 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (42,500 | ) | (49,558 | ) | (52 | ) | — | 42,500 | (49,610 | ) | ||||||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (225 | ) | — | (225 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash | — | 10,521 | (2,440 | ) | 102 | (492 | ) | 7,691 | ||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of year | — | 3,321 | 2,440 | 2,071 | — | 7,832 | ||||||||||||||||||||||||||||||||||||||||||||
Cash at end of year | $ | — | $ | 13,842 | $ | — | $ | 2,173 | $ | (492 | ) | $ | 15,523 | |||||||||||||||||||||||||||||||||||||
Subsequent_Events
Subsequent Events | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Subsequent Events [Abstract] | ' | |||
Subsequent Events | ' | |||
19 | Subsequent Events | |||
On October 1, 2013, the Company completed its follow-on public offering. See further discussion in note 1, “Basis of Presentation and Principles of Consolidation” and note 12, “Related Parties”. |
Organization_and_Formation_of_
Organization and Formation of the Company | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Accounting Policies [Abstract] | ' | |||
Organization and Formation of the Company | ' | |||
1 | Organization and Formation of the Company | |||
Global Brass and Copper Holdings, Inc. (“Holdings” or the “Company”), an investee company of KPS Capital Partners, L.P. and its affiliates (“KPS”), was incorporated in Delaware, on October 10, 2007. KPS is the majority shareholder of Halkos Holdings, LLC (“Halkos”). Halkos owns 100% of Holdings. Holdings, through its wholly-owned principal operating subsidiary, Global Brass and Copper, Inc. (“GBC”), commenced commercial operations on November 19, 2007 through the acquisition of the metals business from Olin Corporation. GBC is a leading value added manufacturer, fabricator and distributor of specialty copper and brass products in North America. | ||||
The Company is operated and managed through three distinct divisions which are also the Company’s reportable segments: GBC Metals, LLC (“Olin Brass”), Chase Brass and Copper Company, LLC (“Chase”) and A.J. Oster, LLC (“Oster”). | ||||
Olin Brass | ||||
The Olin Brass division manufactures sheet, strip and fabricated components by primarily processing copper and copper alloys. The division also rerolls and forms other alloys such as stainless and carbon steel. | ||||
Olin Brass manufactures its products through four sites in North America. The strip mill in East Alton, IL is the main operating facility, which produces strip products. Strip products are processed further through the division’s downstream operations for specified uses. The division’s downstream operations include: a stamping operation located also in East Alton, IL; a rolling mill in Waterbury, CT with rolling, annealing, leveling, plating and slitting capabilities for various products; a rolling mill in Bryan, OH specializing in products sold in the automotive and electrical connectors end-market; and a manufacturing facility in Cuba, MO that produces high frequency welded copper-alloy tube for heat transfer, utility, decorative, automotive and plumbing applications. | ||||
Olin Brass also has operations in Guangzhou, People’s Republic of China, or PRC, through a service center joint venture with Luoyang Copper. Olin Brass’s products are distributed either directly to customers or through Oster. | ||||
Chase | ||||
Chase manufactures round and hexagonal shaped brass rod. The main attributes of brass rod are its machinability, corrosion resistance and moderate strength, and it is used for forging and machining products such as valves and fittings. | ||||
All of the division’s rod is manufactured at the facility located in Montpelier, OH. Chase distributes all of its products directly to customers. | ||||
Oster | ||||
Oster is a distributor of primarily copper and copper-alloy strip products as well as phosphor bronze, nickel, silver, stainless steel and aluminum products. Oster operates as an independent service center with Olin Brass as its primary supplier. Oster also conducts finishing operations on products it distributes, including slitting, traverse coil winding, edging and cutting that aim to enhance product quality and usefulness. | ||||
Oster has six service centers in the U.S. and Mexico, which are strategically located with the objective to service customers throughout North America. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
2 | Summary of Significant Accounting Policies | ||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and its majority-owned subsidiaries, in which the Company holds a controlling interest. All intercompany accounts and transactions are eliminated in consolidation. The equity method is used to account for investments in affiliated companies, 20% to 50% owned, where the Company does not hold a controlling voting interest and does not direct the matters that most significantly impact the investee’s operations. | |||||||||||||
The Company owns an 80% interest in Olin Luotong (GZ) Corporation (“Luotong”), based in China, and Luotong’s financial information is consolidated herein, with the net results attributable to the 20% noncontrolling interest reflected in the consolidated financial statements. | |||||||||||||
Use of Estimates and Assumptions | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, it requires management to make estimates and assumptions that affect the reported amount of net sales and expenses during the reporting period. Actual amounts could differ from those estimates. | |||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||
During 2012, the Company identified the following errors: | |||||||||||||
1 | The Company historically had not recognized deferred tax assets or liabilities related to inside basis differences of its foreign subsidiaries. The unrecognized net deferred tax asset was $797, $888, and $794 as January 1, 2010, December 31, 2010 and December 31, 2011, respectively. The provision for income taxes was overstated by $91 and understated by $94 for the years ended December 31, 2010 and 2011, respectively. | ||||||||||||
2 | Duplicate accruals for the receipt of raw material were identified in the third quarter of fiscal 2012. The error had no impact on the year ended December 31, 2010. Accrued liabilities and cost of sales were overstated by $389 as of and for the year ended December 31, 2011. | ||||||||||||
3 | An error in the accounting for raw material in-transit was identified in the third quarter of fiscal 2012. Inventory was understated by $22 as of January 1, 2010 and overstated by $275 and $423 as of December 31, 2010 and 2011, respectively. Cost of sales was understated by $297 and $148 for the years ended December 31, 2010 and 2011, respectively. | ||||||||||||
Additionally, the Company identified immaterial errors in previously issued consolidated financial statements which were corrected in the year identified, including: | |||||||||||||
4 | An error in accounting for workers’ compensation insurance that was corrected during the year ended December 31, 2011 by decreasing cost of sales by $44 and by increasing prepaid expenses and other current assets by $7,269 and increasing accrued liabilities by $7,225. Prepaid expenses and other current assets were understated by $5,036 and $7,269 as of January 1, 2010 and December 31, 2010, respectively. Accrued liabilities were understated by $5,725 and $7,225 as of January 1, 2010 and December 31, 2010, respectively. Cost of sales was overstated by $733 for the year ended December 31, 2010. | ||||||||||||
5 | An error in accounting for certain derivative contracts that was corrected during the year ended December 31, 2011 by increasing prepaid expenses and other current assets and decreasing cost of sales by $510. Prepaid expenses and other current assets were overstated by $303 as of January 1, 2010 and understated by $510 as of December 31, 2010. Cost of sales was overstated by $813 for the year ended December 31, 2010. | ||||||||||||
The Company assessed the materiality of all errors, individually and in the aggregate, on previously issued consolidated financial statements and concluded that the errors were not material to any of the Company’s previously issued quarterly or annual financial statements. In assessing the effect of correcting previously unrecorded errors in 2012, the Company has concluded that correction of these errors in 2012 could be considered material to 2012 net income. Accordingly, the consolidated financial statements as of and for the year ended December 31, 2011 and as of and for the year ended December 31, 2010 have been revised to reflect the correction of all errors identified in their proper periods. To recognize the cumulative effect of all error corrections as of January 1, 2010, an adjustment of $482 was made to increase retained earnings. | |||||||||||||
A summary of the revisions to the consolidated financial statements as of December 31, 2011 and 2010 and for the periods ended December 31, 2011 and 2010 is as follows: | |||||||||||||
As Previously | Adjustment | As Revised | |||||||||||
Reported | |||||||||||||
Consolidated Balance Sheet | |||||||||||||
December 31, 2010 | |||||||||||||
Inventories | $ | 192,898 | $ | (275 | ) | $ | 192,623 | ||||||
Prepaid expenses and other current assets | 30,662 | 7,779 | 38,441 | ||||||||||
Deferred income tax assets—current | 28,433 | 879 | 29,312 | ||||||||||
Income tax receivable | 2,139 | 137 | 2,276 | ||||||||||
Total current assets | 431,044 | 8,520 | 439,564 | ||||||||||
Deferred income tax assets—noncurrent | 34,354 | (100 | ) | 34,254 | |||||||||
Total assets | 529,301 | 8,420 | 537,721 | ||||||||||
Accrued liabilities | 78,002 | 6,990 | 84,992 | ||||||||||
Income tax payable | — | 199 | 199 | ||||||||||
Total current liabilities | 163,810 | 7,189 | 170,999 | ||||||||||
Total liabilities | 502,063 | 7,189 | 509,252 | ||||||||||
Retained earnings | 12,355 | 1,231 | 13,586 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 24,333 | 1,231 | 25,564 | ||||||||||
Total equity | 27,238 | 1,231 | 28,469 | ||||||||||
Total liabilities and equity | 529,301 | 8,420 | 537,721 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Cost of sales | $ | 1,497,944 | $ | (1,249 | ) | $ | 1,496,695 | ||||||
Gross profit | 160,785 | 1,249 | 162,034 | ||||||||||
Operating income | 91,928 | 1,249 | 93,177 | ||||||||||
Income before provision for income taxes and equity income | 66,042 | 1,249 | 67,291 | ||||||||||
Provision for income taxes | 26,176 | 500 | 26,676 | ||||||||||
Income before equity income | 39,866 | 749 | 40,615 | ||||||||||
Net income | 41,396 | 749 | 42,145 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 1.94 | $ | 0.03 | $ | 1.97 | |||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Net income | $ | 41,396 | $ | 749 | $ | 42,145 | |||||||
Comprehensive income | 41,909 | 749 | 42,658 | ||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 41,326 | 749 | 42,075 | ||||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Net income | $ | 41,396 | $ | 749 | $ | 42,145 | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | ||||||||||
Retained earnings —Balance, December 31, 2010 | 12,355 | 1,231 | 13,586 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2010 | 24,333 | 1,231 | 25,564 | ||||||||||
Total equity—Balance, December 31, 2010 | 27,238 | 1,231 | 28,469 | ||||||||||
As | Adjustment | As Revised | |||||||||||
Previously | |||||||||||||
Reported | |||||||||||||
Consolidated Balance Sheet | |||||||||||||
31-Dec-11 | |||||||||||||
Accounts receivable, net of allowance | $ | 160,731 | $ | 984 | $ | 161,715 | |||||||
Inventories | 186,370 | (423 | ) | 185,947 | |||||||||
Deferred income tax assets—current | 27,972 | 1,055 | 29,027 | ||||||||||
Income tax receivable | 5,017 | 29 | 5,046 | ||||||||||
Total current assets | 449,539 | 1,645 | 451,184 | ||||||||||
Deferred income tax assets—noncurrent | 20,218 | (248 | ) | 19,970 | |||||||||
Total assets | 547,343 | 1,397 | 548,740 | ||||||||||
Accounts payable | 78,276 | (388 | ) | 77,888 | |||||||||
Accrued liabilities | 47,619 | 985 | 48,604 | ||||||||||
Income tax payable | — | 300 | 300 | ||||||||||
Total current liabilities | 161,844 | 897 | 162,741 | ||||||||||
Total liabilities | 465,183 | 897 | 466,080 | ||||||||||
Retained earnings | 68,218 | 500 | 68,718 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 78,992 | 500 | 79,492 | ||||||||||
Total equity | 82,160 | 500 | 82,660 | ||||||||||
Total liabilities and equity | 547,343 | 1,397 | 548,740 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Cost of sales | $ | 1,582,925 | $ | 548 | $ | 1,583,473 | |||||||
Gross profit | 196,218 | (548 | ) | 195,670 | |||||||||
Operating income | 126,827 | (548 | ) | 126,279 | |||||||||
Income before provision for income taxes and equity income | 86,385 | (548 | ) | 85,837 | |||||||||
Provision for income taxes | 31,254 | 183 | 31,437 | ||||||||||
Income before equity income | 55,131 | (731 | ) | 54,400 | |||||||||
Net income | 56,019 | (731 | ) | 55,288 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 2.65 | $ | (0.04 | ) | $ | 2.61 | ||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | ||||||
Comprehensive income | 56,488 | (731 | ) | 55,757 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 56,225 | (731 | ) | 55,494 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | |||||||||
Retained earnings —Balance, December 31, 2011 | 68,218 | 500 | 68,718 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2011 | 78,992 | 500 | 79,492 | ||||||||||
Total equity—Balance, December 31, 2011 | 82,160 | 500 | 82,660 | ||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable primarily consists of trade receivables for amounts billed to customers for products sold and other receivables. The determination of collectability of the Company’s accounts receivable requires management to make frequent judgments and estimates in order to determine the appropriate amount of allowance needed for doubtful accounts. In circumstances where the Company is aware of a customer’s inability to meet its financial obligations (e.g., bankruptcy filings or substantial down-grading of credit ratings), it records an allowance for bad debts equal to the amount the Company does not believe to be collectible. For all other customers, the Company recognizes allowances for bad debts based on its historical collection experience. If circumstances change (e.g., greater than expected defaults or an unexpected material change in a major customer’s ability to meet its financial obligations), the Company’s estimate of the recoverability of amounts due could be changed by a material amount. Accounts are written off once deemed to be uncollectible. Any subsequent cash collections relating to accounts that have been previously written off are recorded as a reduction to the provision for bad debts in the period of collection. | |||||||||||||
The reconciliation of the activity in the allowance for doubtful accounts is summarized below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Balance at beginning of period | $ | 2,067 | $ | 7,921 | $ | 7,505 | |||||||
Provision for bad debts, net of reductions | (814 | ) | (4,171 | ) | 1,324 | ||||||||
Write-offs, net of recoveries | — | (1,683 | ) | (908 | ) | ||||||||
Recoveries, net of write-offs | 155 | — | — | ||||||||||
Balance at end of period | $ | 1,408 | $ | 2,067 | $ | 7,921 | |||||||
Inventories | |||||||||||||
Inventories include costs attributable to direct labor and manufacturing overhead but are primarily comprised of raw material costs. The material component of inventories that is valued on a last-in, first-out (“LIFO”) basis comprises approximately 70% and 72% of total inventory at December 31, 2012 and 2011, respectively. Other manufactured inventories, including the non-material components and certain non-U.S. inventories, are valued on a first-in, first-out (“FIFO”) basis. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, utilities, consumable production supplies, maintenance, production wages and transportation costs. | |||||||||||||
Inventories are stated at the lower of cost or market. The market price of metals used in production and related scrap is subject to volatility. We evaluate the need to record adjustments for inventory on a regular basis. During periods when open market prices decline below net book value, the Company records a provision to reduce the carrying value of its inventory. Additionally, the Company records an estimate for slow moving and obsolete inventory based upon product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. Our policy is to evaluate all inventories including raw material, work-in-process, finished goods, and spare parts. Inventory in excess of our estimated usage requirements is written down to its estimated net realizable value. See note 3, “Inventories,” in these notes to the consolidated financial statements. | |||||||||||||
Prepaid Expenses and Other Current Assets | |||||||||||||
Prepaid expenses are stated at historical cost, net of any related amortization, and consist of amounts which are of continuing benefit to the Company. See note 4, “Prepaid Expenses and Other Current Assets,” in these notes to the consolidated financial statements. | |||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are recorded at cost. Depreciation of property, plant and equipment generally is computed using the straight-line method based on the estimated useful lives of the assets as they are placed into service. Depreciation expense is recorded in cost of sales or selling, general and administrative costs depending on the nature and use of the underlying asset. | |||||||||||||
Expenditures for repairs, maintenance and minor renewals are expensed as incurred. Expenditures which improve an asset or extend its estimated useful life are capitalized. Interest related to the construction of qualifying assets is capitalized as part of the construction costs. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in the accompanying consolidated statement of operations. | |||||||||||||
The Company reviews property, plant and equipment for impairment when a change in events or circumstances indicates that the carrying value of the assets may not be recoverable. The Company has determined that its asset group for impairment testing is comprised of the assets and liabilities of each of its reporting units. Reporting units are businesses, for which discrete financial information is available and reviewed by segment management. The Company’s reporting units are one level below the operating segment, with the exception of one operating segment, for which the operating segment represents the lowest level of identifiable cash flows. The Company determines the fair value of its asset group through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. See note 5, “Property, Plant and Equipment,” in these notes to the consolidated financial statements. | |||||||||||||
Investment in Joint Venture | |||||||||||||
The Company owns a 50% interest in Dowa-Olin Metal Corporation (“Dowa”), a joint venture based in Japan. The Company accounts for Dowa under the equity method of accounting. Due to the timing of the receipt of available financial information, the results of Dowa are recorded on a one-month lag basis. | |||||||||||||
As a result of the purchase method of accounting, a negative basis difference of $9,416 was created between the Company’s books and the Company’s share of Dowa’s equity as of November 19, 2007. ASC 323, Investments—Equity Method & Joint Ventures, provides that the basis difference between the investor cost and underlying equity in net assets of the investee at the date of investment requires recognition unless it is attributable to a non-amortizing asset such as goodwill. The negative basis difference was created due to the bargain purchase event associated with the metals business acquired from Olin Corporation and was not attributable to any specific element of the joint venture itself. As the difference was not attributable to any of the specific assets of Dowa, the equity investment as a whole was assessed to determine the appropriate accretion period for the basis difference. The purpose of the joint venture is to provide Olin Brass’s high performance alloy materials to the Asia market through the licensing of Olin Brass technology. Given consideration of this use, the negative basis difference is being accreted over a period of 13 years. See note 7, “Investment in Joint Venture,” in these notes to the consolidated financial statements. | |||||||||||||
The Company reviews its equity method investment for impairment using an other-than-temporary model when triggering events are identified. An impairment loss is recognized when the investment’s carrying amount exceeds its fair value and this decline in fair value is deemed to be other-than-temporary. | |||||||||||||
Acquisitions and Goodwill | |||||||||||||
All acquisitions are accounted for using the acquisition method as prescribed by ASC 805, Business Combinations. The purchase price paid is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price over the fair value of the net assets acquired is recorded as goodwill. | |||||||||||||
Pursuant to ASC 350, Intangibles—Goodwill and Other, the Company does not amortize goodwill and other intangible assets with indefinite useful lives. The Company reviews goodwill to determine potential impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired, by comparing the carrying value of the asset with the anticipated present value of future cash flows. | |||||||||||||
In 2011, the Financial Accounting Standards Board (“FASB”) amended its guidance to simplify the testing of goodwill for impairment. The amended guidance provides an option to perform a qualitative assessment to determine whether further impairment testing is necessary. If the qualitative evaluation yields support that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, the quantitative impairment test is not required. The Company adopted the qualitative goodwill evaluation model for its annual goodwill impairment test conducted as of October 31, 2012. Based on the results of that qualitative assessment, the Company believes it was more likely than not that the fair value of the reporting units significantly exceeded their carrying values as of October 31, 2012, indicating no impairment of goodwill. The $4,399 of goodwill was assigned to the Chase business segment and as of December 31, 2012, $2,131 of goodwill is expected to be deductible for tax purposes. | |||||||||||||
Intangible Assets | |||||||||||||
Definite-lived intangible assets are recorded at fair value under the purchase method of accounting as of the respective acquisition dates and are amortized using the straight-line method over the estimated useful lives of the assets. Amortization expense related to intangible assets is reflected in selling, general and administrative expenses. Identifiable definite-lived intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. See note 6, “Intangible Assets,” in these notes to the consolidated financial statements. | |||||||||||||
Deferred Financing Fees | |||||||||||||
Deferred financing fees incurred in connection with the issuance of debt are amortized as non-cash interest expense over the terms of the debt agreements. | |||||||||||||
Deferred financing fees incurred in connection with the issuance of the Senior Secured Notes, as defined in note 8, “Other Noncurrent Assets,” are amortized using the effective interest method over the term of the Senior Secured Notes. Deferred financing fees incurred in connection with the issuance of the ABL Facility, as defined in note 8, “Other Noncurrent Assets,” in these notes to the consolidated financial statements, are amortized on a straight-line basis over the term of the ABL Facility. | |||||||||||||
Derivative Contracts | |||||||||||||
The Company’s operating activities expose it to a variety of market risks, including risks related to the effects of commodity prices and interest rates. These financial exposures are monitored and managed by the Company as an integral part of its overall risk-management program. The Company does not enter into derivative contracts for speculation purposes where the objective is to generate profits. The Company has not applied hedge accounting to its derivative contracts in any of the years ended December 31, 2012, 2011 or 2010. The Company includes the fair value of the derivative contracts as assets or liabilities in its balance sheet and recognizes all amounts paid and received and changes in fair value of derivative contracts, including unrealized gains and losses, as adjustments to income. See note 13, “Derivative Contracts,” in these notes to the consolidated financial statements. | |||||||||||||
Revenue Recognition | |||||||||||||
The Company recognizes revenue for both toll and non-toll basis sales only when risk of loss and title passes to the customer, which generally occurs upon shipment. For the years ended December 31, 2012, 2011 and 2010, non-toll net sales were $1,576,070, $1,710,595 and $1,577,771, respectively. For the years ended December 31, 2012, 2011 and 2010, toll net sales were $74,450, $68,548 and $80,958, respectively. Estimates for future rebates on certain product lines and product returns are recognized in the period in which the revenue is recorded. Such rebates were not material for the years ended December 31, 2012, 2011 and 2010. Billings to customers for shipping costs are included in net sales and the cost of shipping product to those customers is reflected in cost of sales in the consolidated statements of operations. | |||||||||||||
Research and Development | |||||||||||||
The Company conducts research and development primarily through the Olin Brass reportable segment, the costs for which are expensed as incurred. Research and development expenditures for the years ended December 31, 2012, 2011 and 2010 were $1,516, $1,540 and $1,740, respectively, and are included as a component of selling, general and administrative expenses in the consolidated statements of operations. | |||||||||||||
Income Taxes | |||||||||||||
The provision for income taxes is determined using the asset and liability approach. The current and deferred tax consequences are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable currently or in future years. Deferred income taxes are provided for temporary differences between the income tax basis of assets and liabilities and their carrying amounts for financial reporting purposes. A valuation allowance is recorded to reduce deferred tax assets when management determines it is “more likely than not” that some portion or all of the deferred tax assets will not be realized. | |||||||||||||
Profits Interest Compensation | |||||||||||||
Halkos has granted, pursuant to the Halkos Holdings, LLC Executive Equity Incentive Plan (“Halkos Equity Plan”), non-voting membership interests to select members of the Company’s management in the form of shares. The shares are profits interests in Halkos. See note 17, “Profits Interest Awards,” in these notes to the consolidated financial statements. | |||||||||||||
The shares are accounted for as a profit sharing arrangement under ASC 710, Compensation—General. Expense is recorded in the period in which distributions to award holders are determined to be probable. These distributions are accounted for by the Company as non-cash compensation expense with a corresponding increase in additional paid-in capital. | |||||||||||||
Foreign Currency Translation | |||||||||||||
The financial statements of foreign subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters. The functional currency of the Company’s foreign subsidiaries is the local currency. The consolidated statements of foreign operations are translated at weighted-average exchange rates for the periods. Assets and liabilities are translated at period-end exchange rates and equity transactions are translated at historical rates. Gains and losses resulting from the translation adjustment are reported as a component of other comprehensive income. The income tax effect of currency translation adjustments related to foreign subsidiaries and joint ventures that are not considered indefinitely reinvested are recorded as a component of deferred taxes with an offset to other comprehensive income. | |||||||||||||
Concentrations of Credit Risk and Certain Other Exposures | |||||||||||||
The Company sells and distributes its products to a wide range of companies primarily in the ammunition, automotive, electronics, housing and coinage industries. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. For the years ended December 31, 2012, 2011 and 2010, sales to any one customer did not exceed 10% of consolidated net sales. | |||||||||||||
The Company uses various strategies to minimize the impact of changes in the base metal prices between the date of order and the date of sale. Generally, the Company prices a forward replacement purchase of an equivalent amount of copper and other metals under flexible pricing arrangements it maintains with its suppliers, at the same time it determines the forward selling price of finished products to its customers. The Company has various sources of raw materials and is not materially dependent on any one supplier. | |||||||||||||
There are nine unions at the Olin Brass division, two labor unions at the Oster division, and one labor union at the Chase division. In 2012, employees at an Olin Brass downstream operation elected a union representative which was subsequently certified. The relationship with these unions has been satisfactory. The collective bargaining agreements with the Olin Brass unions expire between November 2013 and September 2014, the collective bargaining agreements with Oster’s unions expire January 2014 and the other has an indeterminable term, and the collective bargaining agreement with Chase’s union expires in June 2013. Since the Company’s establishment in November 2007, the Company has not experienced any work stoppages at any of its facilities. | |||||||||||||
Self-Insurance Programs | |||||||||||||
The Company is self-insured for workers’ compensation claims and benefits paid under employee health care programs. Accruals for employee health care are primarily based on estimated undiscounted cost of claims, which includes incurred but not reported claims. Accruals for workers’ compensation benefits and related expenses for claims are estimated, in part, by considering historical claims experience and undiscounted claims estimates provided by insurance carriers, third-party administrators and actuaries. Self-insurance accruals are deemed to be sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. | |||||||||||||
Workers’ compensation claims relating to activity after November 19, 2007 are covered by a loss funding insurance arrangement whereby the Company makes a fixed payment to the insurer which is used to pay submitted claims. Loss fund payments to the insurer in excess of workers’ compensation claim payments are classified as prepaid expenses and other current assets. The amount of the loss fund payments to the insurer is based on a combination of claims experience and a contractually agreed upon loss development factor. | |||||||||||||
Environmental Reserves and Environmental Expenses | |||||||||||||
The Company recognizes an environmental liability when it is probable the liability exists and the amount is reasonably estimable. The Company estimates the duration and extent of its remediation obligations based upon internal analyses of clean-up costs, ongoing monitoring costs and estimated legal fees, communications with regulatory agencies and changes in environmental law. If the Company were to determine that its estimates of the duration or extent of its environmental obligations were no longer accurate, the Company would adjust its environmental liabilities accordingly in the period that such determination is made. Estimated future expenditures for environmental remediation are not discounted to their present value. Accrued environmental liabilities are not reduced by potential insurance reimbursements. | |||||||||||||
Environmental expenses that relate to ongoing operations are included as a component of cost of sales. See note 16, “Commitments and Contingencies,” in these notes to the consolidated financial statements. | |||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This guidance requires entities to provide disclosures about items that are required by U.S. GAAP to be reclassified from accumulated other comprehensive income (“AOCI”) to net income in their entirety in the same reporting period. The disclosure would include the amount of the reclassification and identify the line item on the statement where net income is presented that is affected by the reclassification. For other items reclassified from AOCI, the disclosure would list cross-references to other disclosures where additional details about their effects are disclosed. This guidance is effective for reporting periods beginning after December 15, 2012. The Company does not expect that adoption of the guidance will have a material effect on its financial statements and disclosures. | |||||||||||||
In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. This guidance requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This guidance does not amend existing guidance on when it is appropriate to offset. In January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which limits the scope of ASU 2011-11 to derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and lending arrangements. The guidance is effective for annual periods beginning January 1, 2013 and interim periods within those annual periods. Early adoption is not permitted, but retrospective application is required. Adoption of the guidance is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Property, Plant and Equipment | ' | ||||||||||
5 | Property, Plant and Equipment | ||||||||||
The Company’s property, plant and equipment balances are as follows: | |||||||||||
As of December 31, | Useful Life | ||||||||||
2012 | 2011 | (in years) | |||||||||
Land and land improvements | $ | 1,726 | $ | 1,598 | |||||||
Buildings | 9,077 | 8,489 | 20 | ||||||||
Machinery and equipment | 55,175 | 42,715 | 12 | ||||||||
Information technology | 4,477 | 2,462 | 5 | ||||||||
Motor vehicles | 2,521 | 1,403 | 5 | ||||||||
Leasehold improvements | 1,083 | 127 | |||||||||
Construction-in-process | 13,324 | 10,279 | |||||||||
Gross property, plant and equipment | 87,383 | 67,073 | |||||||||
Accumulated depreciation | (16,256 | ) | (9,517 | ) | |||||||
Property, plant and equipment, net | $ | 71,127 | $ | 57,556 | |||||||
Leasehold improvements are amortized over the lesser of their useful lives or the remaining lease term. | |||||||||||
The Company capitalized interest relating to the construction of long-term assets in the amount of $557 in 2011. No interest was capitalized in 2012 or 2010. |
Intangible_Assets
Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Intangible Assets | ' | ||||||||||||
6 | Intangible Assets | ||||||||||||
Intangible assets other than goodwill consisted of the following: | |||||||||||||
As of | Amortization | ||||||||||||
December 31, | Period (in years) | ||||||||||||
2012 | 2011 | ||||||||||||
Gross carrying amount: | |||||||||||||
Customer relationships | $ | 1,350 | $ | 1,350 | 13 | ||||||||
Non-compete agreement | 380 | 380 | 4 | ||||||||||
Total gross intangible assets | 1,730 | 1,730 | |||||||||||
Accumulated amortization: | |||||||||||||
Customer relationships | (511 | ) | (407 | ) | |||||||||
Non-compete agreement | (380 | ) | (372 | ) | |||||||||
Total accumulated amortization | (891 | ) | (779 | ) | |||||||||
Intangible assets, net | $ | 839 | $ | 951 | |||||||||
Amortization expense is expected to be incurred in subsequent years as follows: | |||||||||||||
Year | Amortization | ||||||||||||
2013 | $ | 104 | |||||||||||
2014 | 104 | ||||||||||||
2015 | 104 | ||||||||||||
2016 | 104 | ||||||||||||
2017 | 104 | ||||||||||||
Thereafter | 319 | ||||||||||||
$ | 839 | ||||||||||||
Employee_Defined_Contribution_
Employee Defined Contribution Plans and Multi-Employer Pension Plans | 12 Months Ended | |||
Dec. 31, 2012 | ||||
Postemployment Benefits [Abstract] | ' | |||
Employee Defined Contribution Plans and Multi-Employer Pension Plans | ' | |||
12 | Employee Defined Contribution Plans and Multi-Employer Pension Plans | |||
The Company has a retirement savings plan (the “Plan”) for all of its domestic subsidiaries under section 401(k) of the Internal Revenue Code that covers all U.S. salaried and most hourly employees. Participants may elect to defer a percentage of their compensation to the Plan, subject to aggregate limits required by the Internal Revenue Code. The Plan provides for discretionary matching contributions under certain circumstances, for employees based on location, pay status and membership in a collective bargaining unit. In addition, the Company provides a retirement contribution to certain employees based on location and age. The Company contributed $7,439, $7,412 and $6,599 to the Plan for the years ended December 31, 2012, 2011 and 2010, respectively. | ||||
Bargaining unit employees in East Alton, IL and Alliance, OH participate in the IAM National Pension Plan (“IAM Plan”). The IAM Plan is a multi-employer pension plan with negotiated fixed company costs per employee hour worked. The risks of participating in these multiemployer plans are different from single-employer plans, as the Company can be subject to additional risks if others do not meet their obligations. The Company recorded expense of $2,714, $2,669 and $2,779 for the years ended December 31, 2012, 2011 and 2010, respectively, which are included in cost of sales in the consolidated statement of operations. The Company’s participation in the IAM Plan for the annual period ended December 31, 2012, is outlined in the table below. There have been no significant changes that affect the comparability of 2012 and 2011 contributions. The IAM Plan reported $350,359 and $332,430 in employers’ contributions for the years ended December 31, 2012 and 2011, respectively. | ||||
Pension Fund | IAM National Pension Fund | |||
EIN/ Pension Plan Number | 51-6031295 / 002 | |||
Pension Protection Act Zone Status (2011 and 2010)* | Green Zone | |||
FIP/RP Status Pending/Implemented | No | |||
Company Contributions (FY 2012) | $2,699 | |||
Company Contributions (FY 2011) | $2,689 | |||
Surcharge Imposed | No | |||
Expiration Date of Collective-Bargaining Agreement | 3-Nov-13 | |||
* | Plans in the green zone are at least 80 percent funded. | |||
At the date the financial statements were issued, Forms 5500 were not available for the plan year ended in 2012. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information (Unaudited) | ' | ||||||||||||||||
21 | Quarterly Financial Information (Unaudited) | ||||||||||||||||
2012 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter (A) | Quarter (A) | Quarter (A) | Quarter | ||||||||||||||
Net sales | $ | 443,391 | $ | 416,979 | $ | 393,977 | $ | 396,173 | |||||||||
Gross profit | 49,954 | 47,121 | 44,397 | 41,714 | (C) | ||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | 21,971 | (21,063 | ) (B) | 17,645 | 12,532 | ||||||||||||
Net income (loss) | 14,047 | (19,891 | ) | 11,137 | 7,602 | ||||||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | 13,993 | (20,005 | ) | 11,032 | 7,501 | ||||||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||||||
Basic | 0.66 | (0.95 | ) | 0.52 | 0.36 | ||||||||||||
2011 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter (A) | Quarter (A) | Quarter (A) | Quarter (A) | ||||||||||||||
Net sales | $ | 492,915 | $ | 473,251 | $ | 439,500 | $ | 373,477 | |||||||||
Gross profit | 50,026 | 44,231 | 38,077 | 63,336 | (D) | ||||||||||||
Income before provision for income taxes and equity income | 21,712 | 17,498 | 10,779 | 35,848 | |||||||||||||
Net income | 14,170 | 10,268 | 7,280 | 23,570 | |||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,058 | 10,201 | 7,283 | 23,590 | |||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||||||
Basic | 0.67 | 0.48 | 0.35 | 1.12 | |||||||||||||
(A) | The above data have been adjusted for prior period revisions discussed in note 2, “Summary of Significant Accounting Policies” and as illustrated in note 22, “Revision of Prior Period Financial Statements (Unaudited)”. | ||||||||||||||||
(B) | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. | ||||||||||||||||
(C) | Includes $4,775 gain from liquidation of LIFO inventory layers. | ||||||||||||||||
(D) | Includes $15,236 gain from liquidation of LIFO inventory layers. |
Revision_of_Prior_Period_Finan
Revision of Prior Period Financial Statements (Unaudited) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Accounting Changes And Error Corrections [Abstract] | ' | ||||||||||||
Revision of Prior Period Financial Statements (Unaudited) | ' | ||||||||||||
22 | Revision of Prior Period Financial Statements (Unaudited) | ||||||||||||
As discussed in note 2 “Summary of Significant Accounting Policies”, during 2012, the Company identified and corrected certain errors. A summary of the revisions to the consolidated financial statements during the interim periods is as follows: | |||||||||||||
As | Adjustment | As Revised | |||||||||||
Previously | |||||||||||||
Reported | |||||||||||||
Consolidated Balance Sheet | |||||||||||||
March 31, 2011 | |||||||||||||
Inventories | $ | 202,745 | $ | (230 | ) | $ | 202,515 | ||||||
Prepaid expenses and other current assets | 23,623 | 7,478 | 31,101 | ||||||||||
Deferred income tax assets—current | 27,143 | 1,251 | 28,394 | ||||||||||
Income tax receivable | 2,666 | 327 | 2,993 | ||||||||||
Total current assets | 501,575 | 8,826 | 510,401 | ||||||||||
Property, plant and equipment, net | 42,475 | 112 | 42,587 | ||||||||||
Deferred income tax assets—noncurrent | 32,867 | (347 | ) | 32,520 | |||||||||
Total assets | 601,811 | 8,591 | 610,402 | ||||||||||
Accrued liabilities | 65,352 | 7,240 | 72,592 | ||||||||||
Income tax payable | — | 398 | 398 | ||||||||||
Total current liabilities | 193,688 | 7,638 | 201,326 | ||||||||||
Total liabilities | 559,825 | 7,638 | 567,463 | ||||||||||
Retained earnings | 26,691 | 953 | 27,644 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 38,954 | 953 | 39,907 | ||||||||||
Total equity | 41,987 | 953 | 42,940 | ||||||||||
Total liabilities and equity | 601,811 | 8,591 | 610,402 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Three Months Ended March 31, 2011 | |||||||||||||
Cost of sales | $ | 442,383 | $ | 506 | $ | 442,889 | |||||||
Gross profit | 50,532 | (506 | ) | 50,026 | |||||||||
Operating income | 31,672 | (506 | ) | 31,166 | |||||||||
Third party interest expense | 9,562 | (112 | ) | 9,450 | |||||||||
Income before provision for income taxes and equity income | 22,106 | (394 | ) | 21,712 | |||||||||
Provision for income taxes | 7,956 | (116 | ) | 7,840 | |||||||||
Income before equity income | 14,150 | (278 | ) | 13,872 | |||||||||
Net income | 14,448 | (278 | ) | 14,170 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,336 | (278 | ) | 14,058 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.68 | $ | (0.01 | ) | $ | 0.67 | ||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Three Months Ended March 31, 2011 | |||||||||||||
Net income | $ | 14,448 | $ | (278 | ) | $ | 14,170 | ||||||
Comprehensive income | 14,771 | (278 | ) | 14,493 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 14,643 | (278 | ) | 14,365 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Three Months Ended March 31, 2011 | |||||||||||||
Net income | $ | 14,448 | $ | (278 | ) | $ | 14,170 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,336 | (278 | ) | 14,058 | |||||||||
Retained earnings—Balance, March 31, 2011 | 26,691 | 953 | 27,644 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, March 31, 2011 | 38,954 | 953 | 39,907 | ||||||||||
Total equity—Balance, March 31, 2011 | 41,987 | 953 | 42,940 | ||||||||||
Consolidated Statement of Cash Flows | |||||||||||||
Three Months Ended March 31, 2011 | |||||||||||||
Cash flows from operating activities: | |||||||||||||
Net cash used in operating activities | $ | (22,494 | ) | $ | 112 | $ | (22,382 | ) | |||||
Cash flows from investing activities: | |||||||||||||
Capital expenditures | (3,476 | ) | (112 | ) | (3,588 | ) | |||||||
Net cash used in investing activities | (3,476 | ) | (112 | ) | (3,588 | ) | |||||||
Consolidated Balance Sheet | |||||||||||||
June 30, 2011 | |||||||||||||
Inventories | $ | 169,137 | $ | (402 | ) | $ | 168,735 | ||||||
Prepaid expenses and other current assets | 13,989 | 8,212 | 22,201 | ||||||||||
Deferred income tax assets—current | 25,823 | 1,230 | 27,053 | ||||||||||
Income tax receivable | 2,147 | (343 | ) | 1,804 | |||||||||
Total current assets | 464,534 | 8,697 | 473,231 | ||||||||||
Property, plant and equipment, net | 47,507 | 273 | 47,780 | ||||||||||
Deferred income tax assets—noncurrent | 32,450 | (529 | ) | 31,921 | |||||||||
Total assets | 565,534 | 8,441 | 573,975 | ||||||||||
Accrued liabilities | 55,849 | 7,465 | 63,314 | ||||||||||
Total current liabilities | 176,521 | 7,465 | 183,986 | ||||||||||
Total liabilities | 514,032 | 7,465 | 521,497 | ||||||||||
Retained earnings | 36,869 | 976 | 37,845 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 48,371 | 976 | 49,347 | ||||||||||
Total equity | 51,502 | 976 | 52,478 | ||||||||||
Total liabilities and equity | 565,534 | 8,441 | 573,975 | ||||||||||
Consolidated Statements of Operations | |||||||||||||
Three Months Ended June 30, 2011 | |||||||||||||
Cost of sales | $ | 429,357 | $ | (337 | ) | $ | 429,020 | ||||||
Gross profit | 43,894 | 337 | 44,231 | ||||||||||
Operating income | 27,411 | 337 | 27,748 | ||||||||||
Third party interest expense | 11,149 | (161 | ) | 10,988 | |||||||||
Income before provision for income taxes and equity income | 17,000 | 498 | 17,498 | ||||||||||
Provision for income taxes | 6,783 | 475 | 7,258 | ||||||||||
Income before equity income | 10,217 | 23 | 10,240 | ||||||||||
Net income | 10,245 | 23 | 10,268 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 10,178 | 23 | 10,201 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.48 | $ | — | $ | 0.48 | |||||||
Six Months Ended June 30, 2011 | |||||||||||||
Cost of sales | $ | 871,740 | $ | 169 | $ | 871,909 | |||||||
Gross profit | 94,426 | (169 | ) | 94,257 | |||||||||
Operating income | 59,083 | (169 | ) | 58,914 | |||||||||
Third party interest expense | 20,711 | (273 | ) | 20,438 | |||||||||
Income before provision for income taxes and equity income | 39,106 | 104 | 39,210 | ||||||||||
Provision for income taxes | 14,739 | 359 | 15,098 | ||||||||||
Income before equity income | 24,367 | (255 | ) | 24,112 | |||||||||
Net income | 24,693 | (255 | ) | 24,438 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,514 | (255 | ) | 24,259 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 1.16 | $ | (0.01 | ) | $ | 1.15 | ||||||
Consolidated Statements of Comprehensive Income | |||||||||||||
Three Months Ended June 30, 2011 | |||||||||||||
Net income | $ | 10,245 | $ | 23 | $ | 10,268 | |||||||
Comprehensive income | 10,452 | 23 | 10,475 | ||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 10,354 | 23 | 10,377 | ||||||||||
Six Months Ended June 30, 2011 | |||||||||||||
Net income | $ | 24,693 | $ | (255 | ) | $ | 24,438 | ||||||
Comprehensive income | 25,223 | (255 | ) | 24,968 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 24,997 | (255 | ) | 24,742 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Six Months Ended June 30, 2011 | |||||||||||||
Net income | $ | 24,693 | $ | (255 | ) | $ | 24,438 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,514 | (255 | ) | 24,259 | |||||||||
Retained earnings—Balance, June 30, 2011 | 36,869 | 976 | 37,845 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, June 30, 2011 | 48,371 | 976 | 49,347 | ||||||||||
Total equity—Balance, June 30, 2011 | 51,502 | 976 | 52,478 | ||||||||||
Consolidated Statement of Cash Flows | |||||||||||||
Six Months Ended June 30, 2011 | |||||||||||||
Cash flows from operating activities: | |||||||||||||
Net cash provided by operating activities | $ | 32,428 | $ | 273 | $ | 32,701 | |||||||
Cash flows from investing activities: | |||||||||||||
Capital expenditures | (9,709 | ) | (273 | ) | (9,982 | ) | |||||||
Net cash used in investing activities | (9,683 | ) | (273 | ) | (9,956 | ) | |||||||
Consolidated Balance Sheet | |||||||||||||
September 30, 2011 | |||||||||||||
Inventories | $ | 163,880 | $ | (388 | ) | $ | 163,492 | ||||||
Prepaid expenses and other current assets | 24,752 | 994 | 25,746 | ||||||||||
Deferred income tax assets—current | 26,658 | 1,058 | 27,716 | ||||||||||
Income tax receivable | 3,612 | (352 | ) | 3,260 | |||||||||
Total current assets | 462,786 | 1,312 | 464,098 | ||||||||||
Property, plant and equipment, net | 51,589 | 478 | 52,067 | ||||||||||
Deferred income tax assets—noncurrent | 31,903 | (646 | ) | 31,257 | |||||||||
Total assets | 565,819 | 1,144 | 566,963 | ||||||||||
Accounts payable | 107,971 | (12 | ) | 107,959 | |||||||||
Accrued liabilities | 59,526 | (235 | ) | 59,291 | |||||||||
Total current liabilities | 175,291 | (247 | ) | 175,044 | |||||||||
Total liabilities | 507,655 | (247 | ) | 507,408 | |||||||||
Retained earnings | 43,737 | 1,391 | 45,128 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 54,991 | 1,391 | 56,382 | ||||||||||
Total equity | 58,164 | 1,391 | 59,555 | ||||||||||
Total liabilities and equity | 565,819 | 1,144 | 566,963 | ||||||||||
Consolidated Statements of Operations | |||||||||||||
Three Months Ended September 30, 2011 | |||||||||||||
Cost of sales | $ | 401,931 | $ | (508 | ) | $ | 401,423 | ||||||
Gross profit | 37,569 | 508 | 38,077 | ||||||||||
Operating income | 20,471 | 508 | 20,979 | ||||||||||
Third party interest expense | 10,159 | (205 | ) | 9,954 | |||||||||
Income before provision for income taxes and equity income | 10,066 | 713 | 10,779 | ||||||||||
Provision for income taxes | 3,428 | 298 | 3,726 | ||||||||||
Income before equity income | 6,638 | 415 | 7,053 | ||||||||||
Net income | 6,865 | 415 | 7,280 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 6,868 | 415 | 7,283 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.33 | $ | 0.02 | $ | 0.35 | |||||||
Nine Months Ended September 30, 2011 | |||||||||||||
Cost of sales | $ | 1,273,671 | $ | (339 | ) | $ | 1,273,332 | ||||||
Gross profit | 131,995 | 339 | 132,334 | ||||||||||
Operating income | 79,554 | 339 | 79,893 | ||||||||||
Third party interest expense | 30,870 | (478 | ) | 30,392 | |||||||||
Income before provision for income taxes and equity income | 49,172 | 817 | 49,989 | ||||||||||
Provision for income taxes | 18,167 | 657 | 18,824 | ||||||||||
Income before equity income | 31,005 | 160 | 31,165 | ||||||||||
Net income | 31,558 | 160 | 31,718 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 31,382 | 160 | 31,542 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 1.49 | $ | — | $ | 1.49 | |||||||
Consolidated Statements of Comprehensive Income | |||||||||||||
Three Months Ended September 30, 2011 | |||||||||||||
Net income | $ | 6,865 | $ | 415 | $ | 7,280 | |||||||
Comprehensive income | 6,955 | 415 | 7,370 | ||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 6,913 | 415 | 7,328 | ||||||||||
Nine Months Ended September 30, 2011 | |||||||||||||
Net income | $ | 31,558 | $ | 160 | $ | 31,718 | |||||||
Comprehensive income | 32,178 | 160 | 32,338 | ||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 31,910 | 160 | 32,070 | ||||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Nine Months Ended September 30, 2011 | |||||||||||||
Net income | $ | 31,558 | $ | 160 | $ | 31,718 | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 31,382 | 160 | 31,542 | ||||||||||
Retained earnings—Balance, September 30, 2011 | 43,737 | 1,391 | 45,128 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, September 30, 2011 | 54,991 | 1,391 | 56,382 | ||||||||||
Total equity—Balance, September 30, 2011 | 58,164 | 1,391 | 59,555 | ||||||||||
Consolidated Statement of Cash Flows | |||||||||||||
Nine Months Ended September 30, 2011 | |||||||||||||
Cash flows from operating activities: | |||||||||||||
Net cash provided by operating activities | $ | 44,367 | $ | 478 | $ | 44,845 | |||||||
Cash flows from investing activities: | |||||||||||||
Capital expenditures | (15,062 | ) | (478 | ) | (15,540 | ) | |||||||
Net cash used in investing activities | (14,992 | ) | (478 | ) | (15,470 | ) | |||||||
Consolidated Statement of Operations | |||||||||||||
Three Months Ended December 31, 2011 | |||||||||||||
Cost of sales | $ | 309,254 | $ | 887 | $ | 310,141 | |||||||
Gross profit | 64,223 | (887 | ) | 63,336 | |||||||||
Operating income | 47,273 | (887 | ) | 46,386 | |||||||||
Third party interest expense | 9,140 | 478 | 9,618 | ||||||||||
Income before provision for income taxes and equity income | 37,213 | (1,365 | ) | 35,848 | |||||||||
Provision for income taxes | 13,087 | (474 | ) | 12,613 | |||||||||
Income before equity income | 24,126 | (891 | ) | 23,235 | |||||||||
Net income | 24,461 | (891 | ) | 23,570 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,481 | (891 | ) | 23,590 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 1.16 | $ | (0.04 | ) | $ | 1.12 | ||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Three Months Ended December 31, 2011 | |||||||||||||
Net income | $ | 24,461 | $ | (891 | ) | $ | 23,570 | ||||||
Comprehensive income | 24,310 | (891 | ) | 23,419 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 24,315 | (891 | ) | 23,424 | |||||||||
Consolidated Balance Sheet | |||||||||||||
March 31, 2012 | |||||||||||||
Accounts receivable, net of allowance | $ | 202,756 | $ | 984 | $ | 203,740 | |||||||
Inventories | 173,538 | (861 | ) | 172,677 | |||||||||
Deferred income tax assets—current | 26,793 | 1,326 | 28,119 | ||||||||||
Income tax receivable | 1,567 | (162 | ) | 1,405 | |||||||||
Total current assets | 496,052 | 1,287 | 497,339 | ||||||||||
Deferred income tax assets—noncurrent | 20,092 | (294 | ) | 19,798 | |||||||||
Total assets | 593,912 | 993 | 594,905 | ||||||||||
Accounts payable | 111,814 | (389 | ) | 111,425 | |||||||||
Income Tax payable | — | 64 | 64 | ||||||||||
Accrued liabilities | 47,080 | 1,284 | 48,364 | ||||||||||
Total current liabilities | 194,498 | 959 | 195,457 | ||||||||||
Total liabilities | 497,460 | 959 | 498,419 | ||||||||||
Retained earnings | 82,677 | 34 | 82,711 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 93,213 | 34 | 93,247 | ||||||||||
Total equity | 96,452 | 34 | 96,486 | ||||||||||
Total liabilities and equity | 593,912 | 993 | 594,905 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||
Cost of sales | $ | 392,701 | $ | 736 | $ | 393,437 | |||||||
Gross profit | 50,690 | (736 | ) | 49,954 | |||||||||
Operating income | 32,767 | (736 | ) | 32,031 | |||||||||
Income before provision for income taxes and equity income | 22,707 | (736 | ) | 21,971 | |||||||||
Provision for income taxes | 8,468 | (270 | ) | 8,198 | |||||||||
Income before equity income | 14,239 | (466 | ) | 13,773 | |||||||||
Net income | 14,513 | (466 | ) | 14,047 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,459 | (466 | ) | 13,993 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.68 | $ | (0.02 | ) | $ | 0.66 | ||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||
Net income | $ | 14,513 | $ | (466 | ) | $ | 14,047 | ||||||
Comprehensive income | 14,533 | (466 | ) | 14,067 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 14,462 | (466 | ) | 13,996 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Three Months Ended March 31, 2012 | |||||||||||||
Net income | $ | 14,513 | $ | (466 | ) | $ | 14,047 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,459 | (466 | ) | 13,993 | |||||||||
Retained earnings—Balance, March 31, 2012 | 82,677 | 34 | 82,711 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, March 31, 2012 | 93,213 | 34 | 93,247 | ||||||||||
Total equity—Balance, March 31, 2012 | 96,452 | 34 | 96,486 | ||||||||||
Consolidated Balance Sheet | |||||||||||||
June 30, 2012 | |||||||||||||
Accounts receivable, net of allowance | $ | 192,326 | $ | 984 | $ | 193,310 | |||||||
Inventories | 180,815 | (811 | ) | 180,004 | |||||||||
Deferred income tax assets—current | 28,079 | 1,264 | 29,343 | ||||||||||
Income tax receivable | 4,996 | (476 | ) | 4,520 | |||||||||
Total current assets | 429,443 | 961 | 430,404 | ||||||||||
Deferred income tax assets—noncurrent | 19,917 | (260 | ) | 19,657 | |||||||||
Total assets | 538,522 | 701 | 539,223 | ||||||||||
Accounts payable | 105,981 | (1,396 | ) | 104,585 | |||||||||
Accrued liabilities | 39,590 | 984 | 40,574 | ||||||||||
Total current liabilities | 148,919 | (412 | ) | 148,507 | |||||||||
Total liabilities | 605,586 | (412 | ) | 605,174 | |||||||||
Accumulated deficit | (67,799 | ) | 1,113 | (66,686 | ) | ||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit | (70,422 | ) | 1,113 | (69,309 | ) | ||||||||
Total deficit | (67,064 | ) | 1,113 | (65,951 | ) | ||||||||
Total liabilities and deficit | 538,522 | 701 | 539,223 | ||||||||||
Consolidated Statements of Operations | |||||||||||||
Three Months Ended June 30, 2012 | |||||||||||||
Cost of sales | $ | 371,213 | $ | (1,355 | ) | $ | 369,858 | ||||||
Gross profit | 45,766 | 1,355 | 47,121 | ||||||||||
Operating income | 7,801 | 1,355 | 9,156 | ||||||||||
Loss before provision for income taxes and equity income | (22,418 | ) | 1,355 | (21,063 | ) | ||||||||
Benefit from income taxes | (1,247 | ) | 276 | (971 | ) | ||||||||
Income before equity income | (21,171 | ) | 1,079 | (20,092 | ) | ||||||||
Net loss | (20,970 | ) | 1,079 | (19,891 | ) | ||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (21,084 | ) | 1,079 | (20,005 | ) | ||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | (1.00 | ) | $ | 0.05 | $ | (0.95 | ) | |||||
Six Months Ended June 30, 2012 | |||||||||||||
Cost of sales | $ | 763,914 | $ | (619 | ) | $ | 763,295 | ||||||
Gross profit | 96,456 | 619 | 97,075 | ||||||||||
Operating income | 40,568 | 619 | 41,187 | ||||||||||
Income before provision for income taxes and equity income | 289 | 619 | 908 | ||||||||||
Provision for income taxes | 7,221 | 6 | 7,227 | ||||||||||
Loss before equity income | (6,932 | ) | 613 | (6,319 | ) | ||||||||
Net loss | (6,457 | ) | 613 | (5,844 | ) | ||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (6,625 | ) | 613 | (6,012 | ) | ||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | (0.31 | ) | $ | 0.03 | $ | (0.28 | ) | |||||
Consolidated Statements of Comprehensive Loss | |||||||||||||
Three Months Ended June 30, 2012 | |||||||||||||
Net loss | $ | (20,970 | ) | $ | 1,079 | $ | (19,891 | ) | |||||
Comprehensive loss | (21,113 | ) | 1,079 | (20,034 | ) | ||||||||
Comprehensive loss attributable to Global Brass and Copper Holdings, Inc. | (21,232 | ) | 1,079 | (20,153 | ) | ||||||||
Six Months Ended June 30, 2012 | |||||||||||||
Net loss | $ | (6,457 | ) | $ | 613 | $ | (5,844 | ) | |||||
Comprehensive loss | (6,580 | ) | 613 | (5,967 | ) | ||||||||
Comprehensive loss attributable to Global Brass and Copper Holdings, Inc. | (6,770 | ) | 613 | (6,157 | ) | ||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Six Months Ended June 30, 2012 | |||||||||||||
Net loss | $ | (6,457 | ) | $ | 613 | $ | (5,844 | ) | |||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (6,625 | ) | 613 | (6,012 | ) | ||||||||
Accumulated deficit—Balance, June 30, 2012 | (67,799 | ) | 1,113 | (66,686 | ) | ||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit—Balance, June 30, 2012 | (70,422 | ) | 1,113 | (69,309 | ) | ||||||||
Total deficit—Balance, June 30, 2012 | (67,064 | ) | 1,113 | (65,951 | ) | ||||||||
Consolidated Balance Sheet | |||||||||||||
September 30, 2012 | |||||||||||||
Accounts receivable, net of allowance | $ | 210,654 | $ | 984 | $ | 211,638 | |||||||
Deferred income tax assets—current | 25,390 | 971 | 26,361 | ||||||||||
Income tax receivable | 648 | (174 | ) | 474 | |||||||||
Total current assets | 445,517 | 1,781 | 447,298 | ||||||||||
Deferred income tax assets—noncurrent | 17,350 | (310 | ) | 17,040 | |||||||||
Total assets | 554,198 | 1,471 | 555,669 | ||||||||||
Accrued liabilities | 58,620 | 984 | 59,604 | ||||||||||
Income tax payable | — | 58 | 58 | ||||||||||
Total current liabilities | 179,553 | 1,042 | 180,595 | ||||||||||
Total liabilities | 609,685 | 1,042 | 610,727 | ||||||||||
Accumulated deficit | (56,083 | ) | 429 | (55,654 | ) | ||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit | (58,928 | ) | 429 | (58,499 | ) | ||||||||
Total deficit | (55,487 | ) | 429 | (55,058 | ) | ||||||||
Total liabilities and deficit | 554,198 | 1,471 | 555,669 | ||||||||||
Consolidated Statements of Operations | |||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||
Cost of sales | $ | 348,995 | $ | 585 | $ | 349,580 | |||||||
Gross profit | 44,982 | (585 | ) | 44,397 | |||||||||
Operating income | 27,629 | (585 | ) | 27,044 | |||||||||
Income before provision for income taxes and equity income | 18,230 | (585 | ) | 17,645 | |||||||||
Provision for income taxes | 6,670 | 99 | 6,769 | ||||||||||
Income before equity income | 11,560 | (684 | ) | 10,876 | |||||||||
Net income | 11,821 | (684 | ) | 11,137 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 11,716 | (684 | ) | 11,032 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.55 | $ | (0.03 | ) | $ | 0.52 | ||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Cost of sales | $ | 1,112,909 | $ | (34 | ) | $ | 1,112,875 | ||||||
Gross profit | 141,438 | 34 | 141,472 | ||||||||||
Operating income | 68,197 | 34 | 68,231 | ||||||||||
Income before provision for income taxes and equity income | 18,519 | 34 | 18,553 | ||||||||||
Provision for income taxes | 13,891 | 105 | 13,996 | ||||||||||
Income before equity income | 4,628 | (71 | ) | 4,557 | |||||||||
Net income | 5,364 | (71 | ) | 5,293 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 0.24 | $ | — | $ | 0.24 | |||||||
Consolidated Statements of Comprehensive Income | |||||||||||||
Three Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 11,821 | $ | (684 | ) | $ | 11,137 | ||||||
Comprehensive income | 11,814 | (684 | ) | 11,130 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 11,731 | (684 | ) | 11,047 | |||||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | ||||||
Comprehensive income | 5,234 | (71 | ) | 5,163 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 4,961 | (71 | ) | 4,890 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Nine Months Ended September 30, 2012 | |||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | |||||||||
Accumulated deficit—Balance, September 30, 2012 | (56,083 | ) | 429 | (55,654 | ) | ||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit—Balance, September 30, 2012 | (58,928 | ) | 429 | (58,499 | ) | ||||||||
Total deficit—Balance, September 30, 2012 | (55,487 | ) | 429 | (55,058 | ) |
Schedule_I_Condensed_Financial
Schedule I - Condensed Financial Information of Registrant | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||
Schedule I - Condensed Financial Information of Registrant | ' | ||||||||||||
Schedule I – Condensed Financial Information of Registrant | |||||||||||||
Global Brass and Copper Holdings, Inc. (Parent Company Only) | |||||||||||||
Condensed Balance Sheets | |||||||||||||
As of December 31, | |||||||||||||
(In thousands, except share data) | 2012 | 2011 | |||||||||||
Assets | |||||||||||||
Current assets: | |||||||||||||
Cash | $ | — | $ | — | |||||||||
Total current assets | — | — | |||||||||||
Investment in subsidiary | — | 85,020 | |||||||||||
Total assets | $ | — | $ | 85,020 | |||||||||
Liabilities and stockholder’s (deficit)/equity | |||||||||||||
Current liabilities: | |||||||||||||
Accounts payable | $ | — | $ | — | |||||||||
Total current liabilities | — | — | |||||||||||
Payable to subsidiary | 8,829 | 5,528 | |||||||||||
Obligations and advances in excess of investment in subsidiary | 42,522 | — | |||||||||||
Total liabilities | 51,351 | 5,528 | |||||||||||
Stockholder’s (deficit)/equity: | |||||||||||||
Common stock—$.01 par value; 80,000,000 shares authorized; 21,110,000 shares issued and outstanding at December 31, 2012 and 2011 | 211 | 211 | |||||||||||
Additional paid-in capital | — | 11,091 | |||||||||||
(Accumulated deficit)/retained earnings | (48,153 | ) | 68,718 | ||||||||||
Accumulated other comprehensive income | 1,466 | 1,923 | |||||||||||
Receivable from stockholder | (4,875 | ) | (2,451 | ) | |||||||||
Total stockholder’s (deficit)/equity | (51,351 | ) | 79,492 | ||||||||||
Total liabilities and stockholder’s (deficit)/equity | $ | — | $ | 85,020 | |||||||||
See accompanying notes to condensed financial statements. | |||||||||||||
Schedule I – Condensed Financial Information of Registrant | |||||||||||||
Global Brass and Copper Holdings, Inc. (Parent Company Only) | |||||||||||||
Condensed Statements of Operations | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2012 | 2011 | 2010 | ||||||||||
Net sales | $ | — | $ | — | $ | — | |||||||
Cost of sales | — | — | — | ||||||||||
Gross profit | — | — | — | ||||||||||
Selling, general and administrative expenses | 1,427 | 1,650 | 1,102 | ||||||||||
Loss before income taxes and equity income | (1,427 | ) | (1,650 | ) | (1,102 | ) | |||||||
Benefit from income taxes | (550 | ) | (635 | ) | (424 | ) | |||||||
Loss before equity income | (877 | ) | (1,015 | ) | (678 | ) | |||||||
Equity income, net of tax | 13,398 | 56,147 | 42,311 | ||||||||||
Net income | $ | 12,521 | $ | 55,132 | $ | 41,633 | |||||||
See accompanying notes to condensed financial statements. | |||||||||||||
Schedule I – Condensed Financial Information of Registrant | |||||||||||||
Global Brass and Copper Holdings, Inc. (Parent Company Only) | |||||||||||||
Condensed Statements of Comprehensive Income | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2012 | 2011 | 2010 | ||||||||||
Net income | $ | 12,521 | $ | 55,132 | $ | 41,633 | |||||||
Other comprehensive income: | |||||||||||||
Foreign currency translation adjustment, net of tax | (457 | ) | 362 | 442 | |||||||||
Comprehensive income | $ | 12,064 | $ | 55,494 | $ | 42,075 | |||||||
See accompanying notes to condensed financial statements. | |||||||||||||
Schedule I – Condensed Financial Information of Registrant | |||||||||||||
Global Brass and Copper Holdings, Inc. (Parent Company Only) | |||||||||||||
Condensed Statements of Cash Flows | |||||||||||||
Year Ended December 31, | |||||||||||||
(In thousands) | 2012 | 2011 | 2010 | ||||||||||
Net cash provided by operating activities | $ | 73,624 | $ | — | $ | 42,500 | |||||||
Cash flows from investing activities | |||||||||||||
Capital distributions from subsidiary | 86,376 | — | — | ||||||||||
Payable to subsidiary | 2,424 | 2,451 | — | ||||||||||
Net cash provided by investing activities | 88,800 | 2,451 | — | ||||||||||
Cash flows from financing activities | |||||||||||||
Distributions to stockholder | (160,000 | ) | — | (42,500 | ) | ||||||||
Amounts due from stockholder | (2,424 | ) | (2,451 | ) | — | ||||||||
Net cash used in financing activities | (162,424 | ) | (2,451 | ) | (42,500 | ) | |||||||
Net increase (decrease) in cash | — | — | — | ||||||||||
Cash at beginning of year | — | — | — | ||||||||||
Cash at end of year | $ | — | $ | — | $ | — | |||||||
See accompanying notes to condensed financial statements. | |||||||||||||
Schedule I – Condensed Financial Information of Registrant | |||||||||||||
Global Brass and Copper Holdings, Inc. (Parent Company Only) | |||||||||||||
Notes to Condensed Financial Statements | |||||||||||||
31-Dec-12 | |||||||||||||
(All dollar amounts in thousands) | |||||||||||||
1 | Basis of Presentation | ||||||||||||
Global Brass and Copper, Inc. (“GBC”) is a direct subsidiary of Global Brass and Copper Holdings, Inc. (the “Company”). Under the terms of the agreements governing the 9.50% Senior Secured Notes issued by GBC and the asset-based revolving loan facility entered into by GBC and certain of its subsidiaries (the “ABL Facility”), GBC and substantially all of its existing 100%-owned U.S. subsidiaries are significantly restricted from making dividend payments, loans or advances to the Company. These restrictions have resulted in the restricted net assets (as defined in Rule 4-08(e)(3) of Regulation S-X) of the Company’s subsidiaries exceeding 25% of the consolidated net assets of the Company and its subsidiaries. These condensed financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in this filing. | |||||||||||||
2 | Guarantees | ||||||||||||
The Senior Secured Notes and the ABL Facility are guaranteed by the Company and substantially all of GBC’s existing 100%-owned U.S. subsidiaries. The Senior Secured Notes, the ABL Facility and the related guarantees are secured by the fixed assets, accounts receivable and inventory of GBC and the guarantors. | |||||||||||||
3 | Distributions from Subsidiary | ||||||||||||
Cash distributions received by the Company from GBC were $160,000 and $42,500 for the years ended December 31, 2012 and 2010, respectively. Of the $160,000 received during the year ended December 31, 2012, $73,624 represented a return on capital and $86,376 represented a return of capital. The $42,500 received during the year ended December 31, 2010 represented a return on capital. The Company did not receive any cash distributions for the year ended December 31, 2011. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries and its majority-owned subsidiaries, in which the Company holds a controlling interest. All intercompany accounts and transactions are eliminated in consolidation. The equity method is used to account for investments in affiliated companies, 20% to 50% owned, where the Company does not hold a controlling voting interest and does not direct the matters that most significantly impact the investee’s operations. | |||||||||||||
The Company owns an 80% interest in Olin Luotong (GZ) Corporation (“Luotong”), based in China, and Luotong’s financial information is consolidated herein, with the net results attributable to the 20% noncontrolling interest reflected in the consolidated financial statements. | |||||||||||||
Use of Estimates and Assumptions | ' | ||||||||||||
Use of Estimates and Assumptions | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. In addition, it requires management to make estimates and assumptions that affect the reported amount of net sales and expenses during the reporting period. Actual amounts could differ from those estimates. | |||||||||||||
Revision of Prior Period Financial Statements | ' | ||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||
During 2012, the Company identified the following errors: | |||||||||||||
1 | The Company historically had not recognized deferred tax assets or liabilities related to inside basis differences of its foreign subsidiaries. The unrecognized net deferred tax asset was $797, $888, and $794 as January 1, 2010, December 31, 2010 and December 31, 2011, respectively. The provision for income taxes was overstated by $91 and understated by $94 for the years ended December 31, 2010 and 2011, respectively. | ||||||||||||
2 | Duplicate accruals for the receipt of raw material were identified in the third quarter of fiscal 2012. The error had no impact on the year ended December 31, 2010. Accrued liabilities and cost of sales were overstated by $389 as of and for the year ended December 31, 2011. | ||||||||||||
3 | An error in the accounting for raw material in-transit was identified in the third quarter of fiscal 2012. Inventory was understated by $22 as of January 1, 2010 and overstated by $275 and $423 as of December 31, 2010 and 2011, respectively. Cost of sales was understated by $297 and $148 for the years ended December 31, 2010 and 2011, respectively. | ||||||||||||
Additionally, the Company identified immaterial errors in previously issued consolidated financial statements which were corrected in the year identified, including: | |||||||||||||
4 | An error in accounting for workers’ compensation insurance that was corrected during the year ended December 31, 2011 by decreasing cost of sales by $44 and by increasing prepaid expenses and other current assets by $7,269 and increasing accrued liabilities by $7,225. Prepaid expenses and other current assets were understated by $5,036 and $7,269 as of January 1, 2010 and December 31, 2010, respectively. Accrued liabilities were understated by $5,725 and $7,225 as of January 1, 2010 and December 31, 2010, respectively. Cost of sales was overstated by $733 for the year ended December 31, 2010. | ||||||||||||
5 | An error in accounting for certain derivative contracts that was corrected during the year ended December 31, 2011 by increasing prepaid expenses and other current assets and decreasing cost of sales by $510. Prepaid expenses and other current assets were overstated by $303 as of January 1, 2010 and understated by $510 as of December 31, 2010. Cost of sales was overstated by $813 for the year ended December 31, 2010. | ||||||||||||
The Company assessed the materiality of all errors, individually and in the aggregate, on previously issued consolidated financial statements and concluded that the errors were not material to any of the Company’s previously issued quarterly or annual financial statements. In assessing the effect of correcting previously unrecorded errors in 2012, the Company has concluded that correction of these errors in 2012 could be considered material to 2012 net income. Accordingly, the consolidated financial statements as of and for the year ended December 31, 2011 and as of and for the year ended December 31, 2010 have been revised to reflect the correction of all errors identified in their proper periods. To recognize the cumulative effect of all error corrections as of January 1, 2010, an adjustment of $482 was made to increase retained earnings. | |||||||||||||
A summary of the revisions to the consolidated financial statements as of December 31, 2011 and 2010 and for the periods ended December 31, 2011 and 2010 is as follows: | |||||||||||||
As Previously | Adjustment | As Revised | |||||||||||
Reported | |||||||||||||
Consolidated Balance Sheet | |||||||||||||
December 31, 2010 | |||||||||||||
Inventories | $ | 192,898 | $ | (275 | ) | $ | 192,623 | ||||||
Prepaid expenses and other current assets | 30,662 | 7,779 | 38,441 | ||||||||||
Deferred income tax assets—current | 28,433 | 879 | 29,312 | ||||||||||
Income tax receivable | 2,139 | 137 | 2,276 | ||||||||||
Total current assets | 431,044 | 8,520 | 439,564 | ||||||||||
Deferred income tax assets—noncurrent | 34,354 | (100 | ) | 34,254 | |||||||||
Total assets | 529,301 | 8,420 | 537,721 | ||||||||||
Accrued liabilities | 78,002 | 6,990 | 84,992 | ||||||||||
Income tax payable | — | 199 | 199 | ||||||||||
Total current liabilities | 163,810 | 7,189 | 170,999 | ||||||||||
Total liabilities | 502,063 | 7,189 | 509,252 | ||||||||||
Retained earnings | 12,355 | 1,231 | 13,586 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 24,333 | 1,231 | 25,564 | ||||||||||
Total equity | 27,238 | 1,231 | 28,469 | ||||||||||
Total liabilities and equity | 529,301 | 8,420 | 537,721 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Cost of sales | $ | 1,497,944 | $ | (1,249 | ) | $ | 1,496,695 | ||||||
Gross profit | 160,785 | 1,249 | 162,034 | ||||||||||
Operating income | 91,928 | 1,249 | 93,177 | ||||||||||
Income before provision for income taxes and equity income | 66,042 | 1,249 | 67,291 | ||||||||||
Provision for income taxes | 26,176 | 500 | 26,676 | ||||||||||
Income before equity income | 39,866 | 749 | 40,615 | ||||||||||
Net income | 41,396 | 749 | 42,145 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | ||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 1.94 | $ | 0.03 | $ | 1.97 | |||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Net income | $ | 41,396 | $ | 749 | $ | 42,145 | |||||||
Comprehensive income | 41,909 | 749 | 42,658 | ||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 41,326 | 749 | 42,075 | ||||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Year Ended December 31, 2010 | |||||||||||||
Net income | $ | 41,396 | $ | 749 | $ | 42,145 | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | ||||||||||
Retained earnings —Balance, December 31, 2010 | 12,355 | 1,231 | 13,586 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2010 | 24,333 | 1,231 | 25,564 | ||||||||||
Total equity—Balance, December 31, 2010 | 27,238 | 1,231 | 28,469 | ||||||||||
As | Adjustment | As Revised | |||||||||||
Previously | |||||||||||||
Reported | |||||||||||||
Consolidated Balance Sheet | |||||||||||||
31-Dec-11 | |||||||||||||
Accounts receivable, net of allowance | $ | 160,731 | $ | 984 | $ | 161,715 | |||||||
Inventories | 186,370 | (423 | ) | 185,947 | |||||||||
Deferred income tax assets—current | 27,972 | 1,055 | 29,027 | ||||||||||
Income tax receivable | 5,017 | 29 | 5,046 | ||||||||||
Total current assets | 449,539 | 1,645 | 451,184 | ||||||||||
Deferred income tax assets—noncurrent | 20,218 | (248 | ) | 19,970 | |||||||||
Total assets | 547,343 | 1,397 | 548,740 | ||||||||||
Accounts payable | 78,276 | (388 | ) | 77,888 | |||||||||
Accrued liabilities | 47,619 | 985 | 48,604 | ||||||||||
Income tax payable | — | 300 | 300 | ||||||||||
Total current liabilities | 161,844 | 897 | 162,741 | ||||||||||
Total liabilities | 465,183 | 897 | 466,080 | ||||||||||
Retained earnings | 68,218 | 500 | 68,718 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 78,992 | 500 | 79,492 | ||||||||||
Total equity | 82,160 | 500 | 82,660 | ||||||||||
Total liabilities and equity | 547,343 | 1,397 | 548,740 | ||||||||||
Consolidated Statement of Operations | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Cost of sales | $ | 1,582,925 | $ | 548 | $ | 1,583,473 | |||||||
Gross profit | 196,218 | (548 | ) | 195,670 | |||||||||
Operating income | 126,827 | (548 | ) | 126,279 | |||||||||
Income before provision for income taxes and equity income | 86,385 | (548 | ) | 85,837 | |||||||||
Provision for income taxes | 31,254 | 183 | 31,437 | ||||||||||
Income before equity income | 55,131 | (731 | ) | 54,400 | |||||||||
Net income | 56,019 | (731 | ) | 55,288 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||
Basic | $ | 2.65 | $ | (0.04 | ) | $ | 2.61 | ||||||
Consolidated Statement of Comprehensive Income | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | ||||||
Comprehensive income | 56,488 | (731 | ) | 55,757 | |||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 56,225 | (731 | ) | 55,494 | |||||||||
Consolidated Statement of Changes in Equity | |||||||||||||
Year Ended December 31, 2011 | |||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | ||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | |||||||||
Retained earnings —Balance, December 31, 2011 | 68,218 | 500 | 68,718 | ||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2011 | 78,992 | 500 | 79,492 | ||||||||||
Total equity—Balance, December 31, 2011 | 82,160 | 500 | 82,660 | ||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | ' | ||||||||||||
Accounts Receivable and Allowance for Doubtful Accounts | |||||||||||||
Accounts receivable primarily consists of trade receivables for amounts billed to customers for products sold and other receivables. The determination of collectability of the Company’s accounts receivable requires management to make frequent judgments and estimates in order to determine the appropriate amount of allowance needed for doubtful accounts. In circumstances where the Company is aware of a customer’s inability to meet its financial obligations (e.g., bankruptcy filings or substantial down-grading of credit ratings), it records an allowance for bad debts equal to the amount the Company does not believe to be collectible. For all other customers, the Company recognizes allowances for bad debts based on its historical collection experience. If circumstances change (e.g., greater than expected defaults or an unexpected material change in a major customer’s ability to meet its financial obligations), the Company’s estimate of the recoverability of amounts due could be changed by a material amount. Accounts are written off once deemed to be uncollectible. Any subsequent cash collections relating to accounts that have been previously written off are recorded as a reduction to the provision for bad debts in the period of collection. | |||||||||||||
The reconciliation of the activity in the allowance for doubtful accounts is summarized below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Balance at beginning of period | $ | 2,067 | $ | 7,921 | $ | 7,505 | |||||||
Provision for bad debts, net of reductions | (814 | ) | (4,171 | ) | 1,324 | ||||||||
Write-offs, net of recoveries | — | (1,683 | ) | (908 | ) | ||||||||
Recoveries, net of write-offs | 155 | — | — | ||||||||||
Balance at end of period | $ | 1,408 | $ | 2,067 | $ | 7,921 | |||||||
Inventories | ' | ||||||||||||
Inventories | |||||||||||||
Inventories include costs attributable to direct labor and manufacturing overhead but are primarily comprised of raw material costs. The material component of inventories that is valued on a last-in, first-out (“LIFO”) basis comprises approximately 70% and 72% of total inventory at December 31, 2012 and 2011, respectively. Other manufactured inventories, including the non-material components and certain non-U.S. inventories, are valued on a first-in, first-out (“FIFO”) basis. Elements of cost in finished goods inventory in addition to the cost of material include depreciation, utilities, consumable production supplies, maintenance, production wages and transportation costs. | |||||||||||||
Inventories are stated at the lower of cost or market. The market price of metals used in production and related scrap is subject to volatility. We evaluate the need to record adjustments for inventory on a regular basis. During periods when open market prices decline below net book value, the Company records a provision to reduce the carrying value of its inventory. Additionally, the Company records an estimate for slow moving and obsolete inventory based upon product knowledge, physical inventory observation, future demand, market conditions and an aging analysis of the inventory on hand. Our policy is to evaluate all inventories including raw material, work-in-process, finished goods, and spare parts. Inventory in excess of our estimated usage requirements is written down to its estimated net realizable value. See note 3, “Inventories,” in these notes to the consolidated financial statements. | |||||||||||||
Prepaid Expenses and Other Current Assets | ' | ||||||||||||
Prepaid Expenses and Other Current Assets | |||||||||||||
Prepaid expenses are stated at historical cost, net of any related amortization, and consist of amounts which are of continuing benefit to the Company. See note 4, “Prepaid Expenses and Other Current Assets,” in these notes to the consolidated financial statements. | |||||||||||||
Property, Plant and Equipment | ' | ||||||||||||
Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are recorded at cost. Depreciation of property, plant and equipment generally is computed using the straight-line method based on the estimated useful lives of the assets as they are placed into service. Depreciation expense is recorded in cost of sales or selling, general and administrative costs depending on the nature and use of the underlying asset. | |||||||||||||
Expenditures for repairs, maintenance and minor renewals are expensed as incurred. Expenditures which improve an asset or extend its estimated useful life are capitalized. Interest related to the construction of qualifying assets is capitalized as part of the construction costs. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is included in the accompanying consolidated statement of operations. | |||||||||||||
The Company reviews property, plant and equipment for impairment when a change in events or circumstances indicates that the carrying value of the assets may not be recoverable. The Company has determined that its asset group for impairment testing is comprised of the assets and liabilities of each of its reporting units. Reporting units are businesses, for which discrete financial information is available and reviewed by segment management. The Company’s reporting units are one level below the operating segment, with the exception of one operating segment, for which the operating segment represents the lowest level of identifiable cash flows. The Company determines the fair value of its asset group through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary. See note 5, “Property, Plant and Equipment,” in these notes to the consolidated financial statements. | |||||||||||||
Investment in Joint Venture | ' | ||||||||||||
Investment in Joint Venture | |||||||||||||
The Company owns a 50% interest in Dowa-Olin Metal Corporation (“Dowa”), a joint venture based in Japan. The Company accounts for Dowa under the equity method of accounting. Due to the timing of the receipt of available financial information, the results of Dowa are recorded on a one-month lag basis. | |||||||||||||
As a result of the purchase method of accounting, a negative basis difference of $9,416 was created between the Company’s books and the Company’s share of Dowa’s equity as of November 19, 2007. ASC 323, Investments—Equity Method & Joint Ventures, provides that the basis difference between the investor cost and underlying equity in net assets of the investee at the date of investment requires recognition unless it is attributable to a non-amortizing asset such as goodwill. The negative basis difference was created due to the bargain purchase event associated with the metals business acquired from Olin Corporation and was not attributable to any specific element of the joint venture itself. As the difference was not attributable to any of the specific assets of Dowa, the equity investment as a whole was assessed to determine the appropriate accretion period for the basis difference. The purpose of the joint venture is to provide Olin Brass’s high performance alloy materials to the Asia market through the licensing of Olin Brass technology. Given consideration of this use, the negative basis difference is being accreted over a period of 13 years. See note 7, “Investment in Joint Venture,” in these notes to the consolidated financial statements. | |||||||||||||
The Company reviews its equity method investment for impairment using an other-than-temporary model when triggering events are identified. An impairment loss is recognized when the investment’s carrying amount exceeds its fair value and this decline in fair value is deemed to be other-than-temporary. | |||||||||||||
Acquisitions and Goodwill | ' | ||||||||||||
Acquisitions and Goodwill | |||||||||||||
All acquisitions are accounted for using the acquisition method as prescribed by ASC 805, Business Combinations. The purchase price paid is allocated to the assets acquired and liabilities assumed based on their estimated fair values. Any excess purchase price over the fair value of the net assets acquired is recorded as goodwill. | |||||||||||||
Intangibles-Goodwill and Other | ' | ||||||||||||
Pursuant to ASC 350, Intangibles—Goodwill and Other, the Company does not amortize goodwill and other intangible assets with indefinite useful lives. The Company reviews goodwill to determine potential impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired, by comparing the carrying value of the asset with the anticipated present value of future cash flows. | |||||||||||||
In 2011, the Financial Accounting Standards Board (“FASB”) amended its guidance to simplify the testing of goodwill for impairment. The amended guidance provides an option to perform a qualitative assessment to determine whether further impairment testing is necessary. If the qualitative evaluation yields support that it is more likely than not that the fair value of a reporting unit exceeds its carrying value, the quantitative impairment test is not required. The Company adopted the qualitative goodwill evaluation model for its annual goodwill impairment test conducted as of October 31, 2012. Based on the results of that qualitative assessment, the Company believes it was more likely than not that the fair value of the reporting units significantly exceeded their carrying values as of October 31, 2012, indicating no impairment of goodwill. The $4,399 of goodwill was assigned to the Chase business segment and as of December 31, 2012, $2,131 of goodwill is expected to be deductible for tax purposes. | |||||||||||||
Intangible Assets | ' | ||||||||||||
Intangible Assets | |||||||||||||
Definite-lived intangible assets are recorded at fair value under the purchase method of accounting as of the respective acquisition dates and are amortized using the straight-line method over the estimated useful lives of the assets. Amortization expense related to intangible assets is reflected in selling, general and administrative expenses. Identifiable definite-lived intangible assets are reviewed for impairment whenever events or circumstances indicate that the carrying value may not be recoverable. See note 6, “Intangible Assets,” in these notes to the consolidated financial statements. | |||||||||||||
Deferred Financing Fees | ' | ||||||||||||
Deferred Financing Fees | |||||||||||||
Deferred financing fees incurred in connection with the issuance of debt are amortized as non-cash interest expense over the terms of the debt agreements. | |||||||||||||
Deferred financing fees incurred in connection with the issuance of the Senior Secured Notes, as defined in note 8, “Other Noncurrent Assets,” are amortized using the effective interest method over the term of the Senior Secured Notes. Deferred financing fees incurred in connection with the issuance of the ABL Facility, as defined in note 8, “Other Noncurrent Assets,” in these notes to the consolidated financial statements, are amortized on a straight-line basis over the term of the ABL Facility. | |||||||||||||
Derivative Contracts | ' | ||||||||||||
Derivative Contracts | |||||||||||||
The Company’s operating activities expose it to a variety of market risks, including risks related to the effects of commodity prices and interest rates. These financial exposures are monitored and managed by the Company as an integral part of its overall risk-management program. The Company does not enter into derivative contracts for speculation purposes where the objective is to generate profits. The Company has not applied hedge accounting to its derivative contracts in any of the years ended December 31, 2012, 2011 or 2010. The Company includes the fair value of the derivative contracts as assets or liabilities in its balance sheet and recognizes all amounts paid and received and changes in fair value of derivative contracts, including unrealized gains and losses, as adjustments to income. See note 13, “Derivative Contracts,” in these notes to the consolidated financial statements. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
The Company recognizes revenue for both toll and non-toll basis sales only when risk of loss and title passes to the customer, which generally occurs upon shipment. For the years ended December 31, 2012, 2011 and 2010, non-toll net sales were $1,576,070, $1,710,595 and $1,577,771, respectively. For the years ended December 31, 2012, 2011 and 2010, toll net sales were $74,450, $68,548 and $80,958, respectively. Estimates for future rebates on certain product lines and product returns are recognized in the period in which the revenue is recorded. Such rebates were not material for the years ended December 31, 2012, 2011 and 2010. Billings to customers for shipping costs are included in net sales and the cost of shipping product to those customers is reflected in cost of sales in the consolidated statements of operations. | |||||||||||||
Research and Development | ' | ||||||||||||
Research and Development | |||||||||||||
The Company conducts research and development primarily through the Olin Brass reportable segment, the costs for which are expensed as incurred. Research and development expenditures for the years ended December 31, 2012, 2011 and 2010 were $1,516, $1,540 and $1,740, respectively, and are included as a component of selling, general and administrative expenses in the consolidated statements of operations. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
The provision for income taxes is determined using the asset and liability approach. The current and deferred tax consequences are measured by applying the provisions of enacted tax laws to determine the amount of taxes payable currently or in future years. Deferred income taxes are provided for temporary differences between the income tax basis of assets and liabilities and their carrying amounts for financial reporting purposes. A valuation allowance is recorded to reduce deferred tax assets when management determines it is “more likely than not” that some portion or all of the deferred tax assets will not be realized. | |||||||||||||
Profits Interest Compensation | ' | ||||||||||||
Profits Interest Compensation | |||||||||||||
Halkos has granted, pursuant to the Halkos Holdings, LLC Executive Equity Incentive Plan (“Halkos Equity Plan”), non-voting membership interests to select members of the Company’s management in the form of shares. The shares are profits interests in Halkos. See note 17, “Profits Interest Awards,” in these notes to the consolidated financial statements. | |||||||||||||
The shares are accounted for as a profit sharing arrangement under ASC 710, Compensation—General. Expense is recorded in the period in which distributions to award holders are determined to be probable. These distributions are accounted for by the Company as non-cash compensation expense with a corresponding increase in additional paid-in capital. | |||||||||||||
Foreign Currency Translation | ' | ||||||||||||
Foreign Currency Translation | |||||||||||||
The financial statements of foreign subsidiaries are translated into United States dollars in accordance with ASC 830, Foreign Currency Matters. The functional currency of the Company’s foreign subsidiaries is the local currency. The consolidated statements of foreign operations are translated at weighted-average exchange rates for the periods. Assets and liabilities are translated at period-end exchange rates and equity transactions are translated at historical rates. Gains and losses resulting from the translation adjustment are reported as a component of other comprehensive income. The income tax effect of currency translation adjustments related to foreign subsidiaries and joint ventures that are not considered indefinitely reinvested are recorded as a component of deferred taxes with an offset to other comprehensive income. | |||||||||||||
Concentrations of Credit Risk and Certain Other Exposures | ' | ||||||||||||
Concentrations of Credit Risk and Certain Other Exposures | |||||||||||||
The Company sells and distributes its products to a wide range of companies primarily in the ammunition, automotive, electronics, housing and coinage industries. The Company performs ongoing credit evaluations of its customers and generally does not require collateral. For the years ended December 31, 2012, 2011 and 2010, sales to any one customer did not exceed 10% of consolidated net sales. | |||||||||||||
The Company uses various strategies to minimize the impact of changes in the base metal prices between the date of order and the date of sale. Generally, the Company prices a forward replacement purchase of an equivalent amount of copper and other metals under flexible pricing arrangements it maintains with its suppliers, at the same time it determines the forward selling price of finished products to its customers. The Company has various sources of raw materials and is not materially dependent on any one supplier. | |||||||||||||
There are nine unions at the Olin Brass division, two labor unions at the Oster division, and one labor union at the Chase division. In 2012, employees at an Olin Brass downstream operation elected a union representative which was subsequently certified. The relationship with these unions has been satisfactory. The collective bargaining agreements with the Olin Brass unions expire between November 2013 and September 2014, the collective bargaining agreements with Oster’s unions expire January 2014 and the other has an indeterminable term, and the collective bargaining agreement with Chase’s union expires in June 2013. Since the Company’s establishment in November 2007, the Company has not experienced any work stoppages at any of its facilities. | |||||||||||||
Self-Insurance Programs | ' | ||||||||||||
Self-Insurance Programs | |||||||||||||
The Company is self-insured for workers’ compensation claims and benefits paid under employee health care programs. Accruals for employee health care are primarily based on estimated undiscounted cost of claims, which includes incurred but not reported claims. Accruals for workers’ compensation benefits and related expenses for claims are estimated, in part, by considering historical claims experience and undiscounted claims estimates provided by insurance carriers, third-party administrators and actuaries. Self-insurance accruals are deemed to be sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. | |||||||||||||
Workers’ compensation claims relating to activity after November 19, 2007 are covered by a loss funding insurance arrangement whereby the Company makes a fixed payment to the insurer which is used to pay submitted claims. Loss fund payments to the insurer in excess of workers’ compensation claim payments are classified as prepaid expenses and other current assets. The amount of the loss fund payments to the insurer is based on a combination of claims experience and a contractually agreed upon loss development factor. | |||||||||||||
Environmental Reserves and Environmental Expenses | ' | ||||||||||||
Environmental Reserves and Environmental Expenses | |||||||||||||
The Company recognizes an environmental liability when it is probable the liability exists and the amount is reasonably estimable. The Company estimates the duration and extent of its remediation obligations based upon internal analyses of clean-up costs, ongoing monitoring costs and estimated legal fees, communications with regulatory agencies and changes in environmental law. If the Company were to determine that its estimates of the duration or extent of its environmental obligations were no longer accurate, the Company would adjust its environmental liabilities accordingly in the period that such determination is made. Estimated future expenditures for environmental remediation are not discounted to their present value. Accrued environmental liabilities are not reduced by potential insurance reimbursements. | |||||||||||||
Environmental expenses that relate to ongoing operations are included as a component of cost of sales. See note 16, “Commitments and Contingencies,” in these notes to the consolidated financial statements. | |||||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In February 2013, the FASB issued Accounting Standards Update (“ASU”) 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. This guidance requires entities to provide disclosures about items that are required by U.S. GAAP to be reclassified from accumulated other comprehensive income (“AOCI”) to net income in their entirety in the same reporting period. The disclosure would include the amount of the reclassification and identify the line item on the statement where net income is presented that is affected by the reclassification. For other items reclassified from AOCI, the disclosure would list cross-references to other disclosures where additional details about their effects are disclosed. This guidance is effective for reporting periods beginning after December 15, 2012. The Company does not expect that adoption of the guidance will have a material effect on its financial statements and disclosures. | |||||||||||||
In December 2011, the FASB issued ASU 2011-11, Disclosures about Offsetting Assets and Liabilities. This guidance requires entities to disclose both gross and net information about both instruments and transactions eligible for offset in the statement of financial position and instruments and transactions subject to an agreement similar to a master netting arrangement. This guidance does not amend existing guidance on when it is appropriate to offset. In January 2013, the FASB issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities, which limits the scope of ASU 2011-11 to derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and lending arrangements. The guidance is effective for annual periods beginning January 1, 2013 and interim periods within those annual periods. Early adoption is not permitted, but retrospective application is required. Adoption of the guidance is not expected to have a material impact on the Company’s consolidated financial statements and disclosures. |
Revision_of_Prior_Period_Finan1
Revision of Prior Period Financial Statements (Unaudited) (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
Summary of Revisions to Consolidated Financial Statements | ' | ' | ||||||||||||||||||||||||
A summary of the revisions to the consolidated financial statements as of September 30, 2012 and for the three and nine months ended September 30, 2012 is as follows: | A summary of the revisions to the consolidated financial statements as of December 31, 2011 and 2010 and for the periods ended December 31, 2011 and 2010 is as follows: | |||||||||||||||||||||||||
As | Adjustment | As Revised | As Previously | Adjustment | As Revised | |||||||||||||||||||||
Previously | Reported | |||||||||||||||||||||||||
Reported | Consolidated Balance Sheet | |||||||||||||||||||||||||
Consolidated Statement of Operations | December 31, 2010 | |||||||||||||||||||||||||
Three Months Ended September 30, 2012 | Inventories | $ | 192,898 | $ | (275 | ) | $ | 192,623 | ||||||||||||||||||
Cost of sales | $ | 348,995 | $ | 585 | $ | 349,580 | Prepaid expenses and other current assets | 30,662 | 7,779 | 38,441 | ||||||||||||||||
Gross profit | 44,982 | (585 | ) | 44,397 | Deferred income tax assets—current | 28,433 | 879 | 29,312 | ||||||||||||||||||
Operating income | 27,629 | (585 | ) | 27,044 | Income tax receivable | 2,139 | 137 | 2,276 | ||||||||||||||||||
Income before provision for income taxes and equity income | 18,230 | (585 | ) | 17,645 | Total current assets | 431,044 | 8,520 | 439,564 | ||||||||||||||||||
Provision for income taxes | 6,670 | 99 | 6,769 | Deferred income tax assets—noncurrent | 34,354 | (100 | ) | 34,254 | ||||||||||||||||||
Income before equity income | 11,560 | (684 | ) | 10,876 | Total assets | 529,301 | 8,420 | 537,721 | ||||||||||||||||||
Net income | 11,821 | (684 | ) | 11,137 | Accrued liabilities | 78,002 | 6,990 | 84,992 | ||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 11,716 | (684 | ) | 11,032 | Income tax payable | — | 199 | 199 | ||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | Total current liabilities | 163,810 | 7,189 | 170,999 | ||||||||||||||||||||||
Basic | $ | 0.55 | $ | (0.03 | ) | $ | 0.52 | Total liabilities | 502,063 | 7,189 | 509,252 | |||||||||||||||
Consolidated Statement of Operations | Retained earnings | 12,355 | 1,231 | 13,586 | ||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 24,333 | 1,231 | 25,564 | ||||||||||||||||||||||
Cost of sales | $ | 1,112,909 | $ | (34 | ) | $ | 1,112,875 | Total equity | 27,238 | 1,231 | 28,469 | |||||||||||||||
Gross profit | 141,438 | 34 | 141,472 | Total liabilities and equity | 529,301 | 8,420 | 537,721 | |||||||||||||||||||
Operating income | 68,197 | 34 | 68,231 | |||||||||||||||||||||||
Income before provision for income taxes and equity income | 18,519 | 34 | 18,553 | Consolidated Statement of Operations | ||||||||||||||||||||||
Provision for income taxes | 13,891 | 105 | 13,996 | Year Ended December 31, 2010 | ||||||||||||||||||||||
Income before equity income | 4,628 | (71 | ) | 4,557 | Cost of sales | $ | 1,497,944 | $ | (1,249 | ) | $ | 1,496,695 | ||||||||||||||
Net income | 5,364 | (71 | ) | 5,293 | Gross profit | 160,785 | 1,249 | 162,034 | ||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | Operating income | 91,928 | 1,249 | 93,177 | ||||||||||||||||||
Net income attributable to Global Brass and | Income before provision for income taxes and equity income | 66,042 | 1,249 | 67,291 | ||||||||||||||||||||||
Copper Holdings, Inc. per common share: | Provision for income taxes | 26,176 | 500 | 26,676 | ||||||||||||||||||||||
Basic | $ | 0.24 | $ | — | $ | 0.24 | Income before equity income | 39,866 | 749 | 40,615 | ||||||||||||||||
Consolidated Statement of Comprehensive Income | Net income | 41,396 | 749 | 42,145 | ||||||||||||||||||||||
Three Months Ended September 30, 2012 | Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | ||||||||||||||||||||||
Net income | $ | 11,821 | $ | (684 | ) | $ | 11,137 | Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||
Comprehensive income | 11,814 | (684 | ) | 11,130 | Basic | $ | 1.94 | $ | 0.03 | $ | 1.97 | |||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 11,731 | (684 | ) | 11,047 | ||||||||||||||||||||||
Consolidated Statement of Comprehensive Income | Consolidated Statement of Comprehensive Income | |||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Year Ended December 31, 2010 | |||||||||||||||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | Net income | $ | 41,396 | $ | 749 | $ | 42,145 | ||||||||||||
Comprehensive income | 5,234 | (71 | ) | 5,163 | Comprehensive income | 41,909 | 749 | 42,658 | ||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 4,961 | (71 | ) | 4,890 | Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 41,326 | 749 | 42,075 | ||||||||||||||||||
Consolidated Statement of Changes in Deficit | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | Consolidated Statement of Changes in Equity | |||||||||||||||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | Year Ended December 31, 2010 | ||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | Net income | $ | 41,396 | $ | 749 | $ | 42,145 | |||||||||||||||
Accumulated deficit—Balance, September 30, 2012 | (56,083 | ) | 429 | (55,654 | ) | Net income attributable to Global Brass and Copper Holdings, Inc. | 40,884 | 749 | 41,633 | |||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholders’ deficit—Balance, September 30, 2012 | (58,928 | ) | 429 | (58,499 | ) | Retained earnings —Balance, December 31, 2010 | 12,355 | 1,231 | 13,586 | |||||||||||||||||
Total deficit—Balance, September 30, 2012 | (55,487 | ) | 429 | (55,058 | ) | Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2010 | 24,333 | 1,231 | 25,564 | |||||||||||||||||
Total equity—Balance, December 31, 2010 | 27,238 | 1,231 | 28,469 | |||||||||||||||||||||||
As | Adjustment | As Revised | ||||||||||||||||||||||||
Previously | ||||||||||||||||||||||||||
Reported | ||||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
31-Dec-11 | ||||||||||||||||||||||||||
Accounts receivable, net of allowance | $ | 160,731 | $ | 984 | $ | 161,715 | ||||||||||||||||||||
Inventories | 186,370 | (423 | ) | 185,947 | ||||||||||||||||||||||
Deferred income tax assets—current | 27,972 | 1,055 | 29,027 | |||||||||||||||||||||||
Income tax receivable | 5,017 | 29 | 5,046 | |||||||||||||||||||||||
Total current assets | 449,539 | 1,645 | 451,184 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 20,218 | (248 | ) | 19,970 | ||||||||||||||||||||||
Total assets | 547,343 | 1,397 | 548,740 | |||||||||||||||||||||||
Accounts payable | 78,276 | (388 | ) | 77,888 | ||||||||||||||||||||||
Accrued liabilities | 47,619 | 985 | 48,604 | |||||||||||||||||||||||
Income tax payable | — | 300 | 300 | |||||||||||||||||||||||
Total current liabilities | 161,844 | 897 | 162,741 | |||||||||||||||||||||||
Total liabilities | 465,183 | 897 | 466,080 | |||||||||||||||||||||||
Retained earnings | 68,218 | 500 | 68,718 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 78,992 | 500 | 79,492 | |||||||||||||||||||||||
Total equity | 82,160 | 500 | 82,660 | |||||||||||||||||||||||
Total liabilities and equity | 547,343 | 1,397 | 548,740 | |||||||||||||||||||||||
Consolidated Statement of Operations | ||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 1,582,925 | $ | 548 | $ | 1,583,473 | ||||||||||||||||||||
Gross profit | 196,218 | (548 | ) | 195,670 | ||||||||||||||||||||||
Operating income | 126,827 | (548 | ) | 126,279 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 86,385 | (548 | ) | 85,837 | ||||||||||||||||||||||
Provision for income taxes | 31,254 | 183 | 31,437 | |||||||||||||||||||||||
Income before equity income | 55,131 | (731 | ) | 54,400 | ||||||||||||||||||||||
Net income | 56,019 | (731 | ) | 55,288 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 2.65 | $ | (0.04 | ) | $ | 2.61 | |||||||||||||||||||
Consolidated Statement of Comprehensive Income | ||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | |||||||||||||||||||
Comprehensive income | 56,488 | (731 | ) | 55,757 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 56,225 | (731 | ) | 55,494 | ||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Year Ended December 31, 2011 | ||||||||||||||||||||||||||
Net income | $ | 56,019 | $ | (731 | ) | $ | 55,288 | |||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 55,863 | (731 | ) | 55,132 | ||||||||||||||||||||||
Retained earnings —Balance, December 31, 2011 | 68,218 | 500 | 68,718 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, December 31, 2011 | 78,992 | 500 | 79,492 | |||||||||||||||||||||||
Total equity—Balance, December 31, 2011 | 82,160 | 500 | 82,660 | |||||||||||||||||||||||
Interim Period [Member] | ' | ' | ||||||||||||||||||||||||
Summary of Revisions to Consolidated Financial Statements | ' | ' | ||||||||||||||||||||||||
A summary of the revisions to the consolidated financial statements during the interim periods is as follows: | ||||||||||||||||||||||||||
As | Adjustment | As Revised | ||||||||||||||||||||||||
Previously | ||||||||||||||||||||||||||
Reported | ||||||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
March 31, 2011 | ||||||||||||||||||||||||||
Inventories | $ | 202,745 | $ | (230 | ) | $ | 202,515 | |||||||||||||||||||
Prepaid expenses and other current assets | 23,623 | 7,478 | 31,101 | |||||||||||||||||||||||
Deferred income tax assets—current | 27,143 | 1,251 | 28,394 | |||||||||||||||||||||||
Income tax receivable | 2,666 | 327 | 2,993 | |||||||||||||||||||||||
Total current assets | 501,575 | 8,826 | 510,401 | |||||||||||||||||||||||
Property, plant and equipment, net | 42,475 | 112 | 42,587 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 32,867 | (347 | ) | 32,520 | ||||||||||||||||||||||
Total assets | 601,811 | 8,591 | 610,402 | |||||||||||||||||||||||
Accrued liabilities | 65,352 | 7,240 | 72,592 | |||||||||||||||||||||||
Income tax payable | — | 398 | 398 | |||||||||||||||||||||||
Total current liabilities | 193,688 | 7,638 | 201,326 | |||||||||||||||||||||||
Total liabilities | 559,825 | 7,638 | 567,463 | |||||||||||||||||||||||
Retained earnings | 26,691 | 953 | 27,644 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 38,954 | 953 | 39,907 | |||||||||||||||||||||||
Total equity | 41,987 | 953 | 42,940 | |||||||||||||||||||||||
Total liabilities and equity | 601,811 | 8,591 | 610,402 | |||||||||||||||||||||||
Consolidated Statement of Operations | ||||||||||||||||||||||||||
Three Months Ended March 31, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 442,383 | $ | 506 | $ | 442,889 | ||||||||||||||||||||
Gross profit | 50,532 | (506 | ) | 50,026 | ||||||||||||||||||||||
Operating income | 31,672 | (506 | ) | 31,166 | ||||||||||||||||||||||
Third party interest expense | 9,562 | (112 | ) | 9,450 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 22,106 | (394 | ) | 21,712 | ||||||||||||||||||||||
Provision for income taxes | 7,956 | (116 | ) | 7,840 | ||||||||||||||||||||||
Income before equity income | 14,150 | (278 | ) | 13,872 | ||||||||||||||||||||||
Net income | 14,448 | (278 | ) | 14,170 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,336 | (278 | ) | 14,058 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.68 | $ | (0.01 | ) | $ | 0.67 | |||||||||||||||||||
Consolidated Statement of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended March 31, 2011 | ||||||||||||||||||||||||||
Net income | $ | 14,448 | $ | (278 | ) | $ | 14,170 | |||||||||||||||||||
Comprehensive income | 14,771 | (278 | ) | 14,493 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 14,643 | (278 | ) | 14,365 | ||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Three Months Ended March 31, 2011 | ||||||||||||||||||||||||||
Net income | $ | 14,448 | $ | (278 | ) | $ | 14,170 | |||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,336 | (278 | ) | 14,058 | ||||||||||||||||||||||
Retained earnings—Balance, March 31, 2011 | 26,691 | 953 | 27,644 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, March 31, 2011 | 38,954 | 953 | 39,907 | |||||||||||||||||||||||
Total equity—Balance, March 31, 2011 | 41,987 | 953 | 42,940 | |||||||||||||||||||||||
Consolidated Statement of Cash Flows | ||||||||||||||||||||||||||
Three Months Ended March 31, 2011 | ||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||
Net cash used in operating activities | $ | (22,494 | ) | $ | 112 | $ | (22,382 | ) | ||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Capital expenditures | (3,476 | ) | (112 | ) | (3,588 | ) | ||||||||||||||||||||
Net cash used in investing activities | (3,476 | ) | (112 | ) | (3,588 | ) | ||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
June 30, 2011 | ||||||||||||||||||||||||||
Inventories | $ | 169,137 | $ | (402 | ) | $ | 168,735 | |||||||||||||||||||
Prepaid expenses and other current assets | 13,989 | 8,212 | 22,201 | |||||||||||||||||||||||
Deferred income tax assets—current | 25,823 | 1,230 | 27,053 | |||||||||||||||||||||||
Income tax receivable | 2,147 | (343 | ) | 1,804 | ||||||||||||||||||||||
Total current assets | 464,534 | 8,697 | 473,231 | |||||||||||||||||||||||
Property, plant and equipment, net | 47,507 | 273 | 47,780 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 32,450 | (529 | ) | 31,921 | ||||||||||||||||||||||
Total assets | 565,534 | 8,441 | 573,975 | |||||||||||||||||||||||
Accrued liabilities | 55,849 | 7,465 | 63,314 | |||||||||||||||||||||||
Total current liabilities | 176,521 | 7,465 | 183,986 | |||||||||||||||||||||||
Total liabilities | 514,032 | 7,465 | 521,497 | |||||||||||||||||||||||
Retained earnings | 36,869 | 976 | 37,845 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 48,371 | 976 | 49,347 | |||||||||||||||||||||||
Total equity | 51,502 | 976 | 52,478 | |||||||||||||||||||||||
Total liabilities and equity | 565,534 | 8,441 | 573,975 | |||||||||||||||||||||||
Consolidated Statements of Operations | ||||||||||||||||||||||||||
Three Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 429,357 | $ | (337 | ) | $ | 429,020 | |||||||||||||||||||
Gross profit | 43,894 | 337 | 44,231 | |||||||||||||||||||||||
Operating income | 27,411 | 337 | 27,748 | |||||||||||||||||||||||
Third party interest expense | 11,149 | (161 | ) | 10,988 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 17,000 | 498 | 17,498 | |||||||||||||||||||||||
Provision for income taxes | 6,783 | 475 | 7,258 | |||||||||||||||||||||||
Income before equity income | 10,217 | 23 | 10,240 | |||||||||||||||||||||||
Net income | 10,245 | 23 | 10,268 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 10,178 | 23 | 10,201 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.48 | $ | — | $ | 0.48 | ||||||||||||||||||||
Six Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 871,740 | $ | 169 | $ | 871,909 | ||||||||||||||||||||
Gross profit | 94,426 | (169 | ) | 94,257 | ||||||||||||||||||||||
Operating income | 59,083 | (169 | ) | 58,914 | ||||||||||||||||||||||
Third party interest expense | 20,711 | (273 | ) | 20,438 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 39,106 | 104 | 39,210 | |||||||||||||||||||||||
Provision for income taxes | 14,739 | 359 | 15,098 | |||||||||||||||||||||||
Income before equity income | 24,367 | (255 | ) | 24,112 | ||||||||||||||||||||||
Net income | 24,693 | (255 | ) | 24,438 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,514 | (255 | ) | 24,259 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 1.16 | $ | (0.01 | ) | $ | 1.15 | |||||||||||||||||||
Consolidated Statements of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 10,245 | $ | 23 | $ | 10,268 | ||||||||||||||||||||
Comprehensive income | 10,452 | 23 | 10,475 | |||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 10,354 | 23 | 10,377 | |||||||||||||||||||||||
Six Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 24,693 | $ | (255 | ) | $ | 24,438 | |||||||||||||||||||
Comprehensive income | 25,223 | (255 | ) | 24,968 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 24,997 | (255 | ) | 24,742 | ||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Six Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 24,693 | $ | (255 | ) | $ | 24,438 | |||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,514 | (255 | ) | 24,259 | ||||||||||||||||||||||
Retained earnings—Balance, June 30, 2011 | 36,869 | 976 | 37,845 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, June 30, 2011 | 48,371 | 976 | 49,347 | |||||||||||||||||||||||
Total equity—Balance, June 30, 2011 | 51,502 | 976 | 52,478 | |||||||||||||||||||||||
Consolidated Statement of Cash Flows | ||||||||||||||||||||||||||
Six Months Ended June 30, 2011 | ||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 32,428 | $ | 273 | $ | 32,701 | ||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Capital expenditures | (9,709 | ) | (273 | ) | (9,982 | ) | ||||||||||||||||||||
Net cash used in investing activities | (9,683 | ) | (273 | ) | (9,956 | ) | ||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
September 30, 2011 | ||||||||||||||||||||||||||
Inventories | $ | 163,880 | $ | (388 | ) | $ | 163,492 | |||||||||||||||||||
Prepaid expenses and other current assets | 24,752 | 994 | 25,746 | |||||||||||||||||||||||
Deferred income tax assets—current | 26,658 | 1,058 | 27,716 | |||||||||||||||||||||||
Income tax receivable | 3,612 | (352 | ) | 3,260 | ||||||||||||||||||||||
Total current assets | 462,786 | 1,312 | 464,098 | |||||||||||||||||||||||
Property, plant and equipment, net | 51,589 | 478 | 52,067 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 31,903 | (646 | ) | 31,257 | ||||||||||||||||||||||
Total assets | 565,819 | 1,144 | 566,963 | |||||||||||||||||||||||
Accounts payable | 107,971 | (12 | ) | 107,959 | ||||||||||||||||||||||
Accrued liabilities | 59,526 | (235 | ) | 59,291 | ||||||||||||||||||||||
Total current liabilities | 175,291 | (247 | ) | 175,044 | ||||||||||||||||||||||
Total liabilities | 507,655 | (247 | ) | 507,408 | ||||||||||||||||||||||
Retained earnings | 43,737 | 1,391 | 45,128 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 54,991 | 1,391 | 56,382 | |||||||||||||||||||||||
Total equity | 58,164 | 1,391 | 59,555 | |||||||||||||||||||||||
Total liabilities and equity | 565,819 | 1,144 | 566,963 | |||||||||||||||||||||||
Consolidated Statements of Operations | ||||||||||||||||||||||||||
Three Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 401,931 | $ | (508 | ) | $ | 401,423 | |||||||||||||||||||
Gross profit | 37,569 | 508 | 38,077 | |||||||||||||||||||||||
Operating income | 20,471 | 508 | 20,979 | |||||||||||||||||||||||
Third party interest expense | 10,159 | (205 | ) | 9,954 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 10,066 | 713 | 10,779 | |||||||||||||||||||||||
Provision for income taxes | 3,428 | 298 | 3,726 | |||||||||||||||||||||||
Income before equity income | 6,638 | 415 | 7,053 | |||||||||||||||||||||||
Net income | 6,865 | 415 | 7,280 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 6,868 | 415 | 7,283 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.33 | $ | 0.02 | $ | 0.35 | ||||||||||||||||||||
Nine Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 1,273,671 | $ | (339 | ) | $ | 1,273,332 | |||||||||||||||||||
Gross profit | 131,995 | 339 | 132,334 | |||||||||||||||||||||||
Operating income | 79,554 | 339 | 79,893 | |||||||||||||||||||||||
Third party interest expense | 30,870 | (478 | ) | 30,392 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 49,172 | 817 | 49,989 | |||||||||||||||||||||||
Provision for income taxes | 18,167 | 657 | 18,824 | |||||||||||||||||||||||
Income before equity income | 31,005 | 160 | 31,165 | |||||||||||||||||||||||
Net income | 31,558 | 160 | 31,718 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 31,382 | 160 | 31,542 | |||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 1.49 | $ | — | $ | 1.49 | ||||||||||||||||||||
Consolidated Statements of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 6,865 | $ | 415 | $ | 7,280 | ||||||||||||||||||||
Comprehensive income | 6,955 | 415 | 7,370 | |||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 6,913 | 415 | 7,328 | |||||||||||||||||||||||
Nine Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 31,558 | $ | 160 | $ | 31,718 | ||||||||||||||||||||
Comprehensive income | 32,178 | 160 | 32,338 | |||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 31,910 | 160 | 32,070 | |||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Net income | $ | 31,558 | $ | 160 | $ | 31,718 | ||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 31,382 | 160 | 31,542 | |||||||||||||||||||||||
Retained earnings—Balance, September 30, 2011 | 43,737 | 1,391 | 45,128 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, September 30, 2011 | 54,991 | 1,391 | 56,382 | |||||||||||||||||||||||
Total equity—Balance, September 30, 2011 | 58,164 | 1,391 | 59,555 | |||||||||||||||||||||||
Consolidated Statement of Cash Flows | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2011 | ||||||||||||||||||||||||||
Cash flows from operating activities: | ||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 44,367 | $ | 478 | $ | 44,845 | ||||||||||||||||||||
Cash flows from investing activities: | ||||||||||||||||||||||||||
Capital expenditures | (15,062 | ) | (478 | ) | (15,540 | ) | ||||||||||||||||||||
Net cash used in investing activities | (14,992 | ) | (478 | ) | (15,470 | ) | ||||||||||||||||||||
Consolidated Statement of Operations | ||||||||||||||||||||||||||
Three Months Ended December 31, 2011 | ||||||||||||||||||||||||||
Cost of sales | $ | 309,254 | $ | 887 | $ | 310,141 | ||||||||||||||||||||
Gross profit | 64,223 | (887 | ) | 63,336 | ||||||||||||||||||||||
Operating income | 47,273 | (887 | ) | 46,386 | ||||||||||||||||||||||
Third party interest expense | 9,140 | 478 | 9,618 | |||||||||||||||||||||||
Income before provision for income taxes and equity income | 37,213 | (1,365 | ) | 35,848 | ||||||||||||||||||||||
Provision for income taxes | 13,087 | (474 | ) | 12,613 | ||||||||||||||||||||||
Income before equity income | 24,126 | (891 | ) | 23,235 | ||||||||||||||||||||||
Net income | 24,461 | (891 | ) | 23,570 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 24,481 | (891 | ) | 23,590 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 1.16 | $ | (0.04 | ) | $ | 1.12 | |||||||||||||||||||
Consolidated Statement of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended December 31, 2011 | ||||||||||||||||||||||||||
Net income | $ | 24,461 | $ | (891 | ) | $ | 23,570 | |||||||||||||||||||
Comprehensive income | 24,310 | (891 | ) | 23,419 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 24,315 | (891 | ) | 23,424 | ||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
March 31, 2012 | ||||||||||||||||||||||||||
Accounts receivable, net of allowance | $ | 202,756 | $ | 984 | $ | 203,740 | ||||||||||||||||||||
Inventories | 173,538 | (861 | ) | 172,677 | ||||||||||||||||||||||
Deferred income tax assets—current | 26,793 | 1,326 | 28,119 | |||||||||||||||||||||||
Income tax receivable | 1,567 | (162 | ) | 1,405 | ||||||||||||||||||||||
Total current assets | 496,052 | 1,287 | 497,339 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 20,092 | (294 | ) | 19,798 | ||||||||||||||||||||||
Total assets | 593,912 | 993 | 594,905 | |||||||||||||||||||||||
Accounts payable | 111,814 | (389 | ) | 111,425 | ||||||||||||||||||||||
Income Tax payable | — | 64 | 64 | |||||||||||||||||||||||
Accrued liabilities | 47,080 | 1,284 | 48,364 | |||||||||||||||||||||||
Total current liabilities | 194,498 | 959 | 195,457 | |||||||||||||||||||||||
Total liabilities | 497,460 | 959 | 498,419 | |||||||||||||||||||||||
Retained earnings | 82,677 | 34 | 82,711 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity | 93,213 | 34 | 93,247 | |||||||||||||||||||||||
Total equity | 96,452 | 34 | 96,486 | |||||||||||||||||||||||
Total liabilities and equity | 593,912 | 993 | 594,905 | |||||||||||||||||||||||
Consolidated Statement of Operations | ||||||||||||||||||||||||||
Three Months Ended March 31, 2012 | ||||||||||||||||||||||||||
Cost of sales | $ | 392,701 | $ | 736 | $ | 393,437 | ||||||||||||||||||||
Gross profit | 50,690 | (736 | ) | 49,954 | ||||||||||||||||||||||
Operating income | 32,767 | (736 | ) | 32,031 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 22,707 | (736 | ) | 21,971 | ||||||||||||||||||||||
Provision for income taxes | 8,468 | (270 | ) | 8,198 | ||||||||||||||||||||||
Income before equity income | 14,239 | (466 | ) | 13,773 | ||||||||||||||||||||||
Net income | 14,513 | (466 | ) | 14,047 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,459 | (466 | ) | 13,993 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.68 | $ | (0.02 | ) | $ | 0.66 | |||||||||||||||||||
Consolidated Statement of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended March 31, 2012 | ||||||||||||||||||||||||||
Net income | $ | 14,513 | $ | (466 | ) | $ | 14,047 | |||||||||||||||||||
Comprehensive income | 14,533 | (466 | ) | 14,067 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 14,462 | (466 | ) | 13,996 | ||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Three Months Ended March 31, 2012 | ||||||||||||||||||||||||||
Net income | $ | 14,513 | $ | (466 | ) | $ | 14,047 | |||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,459 | (466 | ) | 13,993 | ||||||||||||||||||||||
Retained earnings—Balance, March 31, 2012 | 82,677 | 34 | 82,711 | |||||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s equity—Balance, March 31, 2012 | 93,213 | 34 | 93,247 | |||||||||||||||||||||||
Total equity—Balance, March 31, 2012 | 96,452 | 34 | 96,486 | |||||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
June 30, 2012 | ||||||||||||||||||||||||||
Accounts receivable, net of allowance | $ | 192,326 | $ | 984 | $ | 193,310 | ||||||||||||||||||||
Inventories | 180,815 | (811 | ) | 180,004 | ||||||||||||||||||||||
Deferred income tax assets—current | 28,079 | 1,264 | 29,343 | |||||||||||||||||||||||
Income tax receivable | 4,996 | (476 | ) | 4,520 | ||||||||||||||||||||||
Total current assets | 429,443 | 961 | 430,404 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 19,917 | (260 | ) | 19,657 | ||||||||||||||||||||||
Total assets | 538,522 | 701 | 539,223 | |||||||||||||||||||||||
Accounts payable | 105,981 | (1,396 | ) | 104,585 | ||||||||||||||||||||||
Accrued liabilities | 39,590 | 984 | 40,574 | |||||||||||||||||||||||
Total current liabilities | 148,919 | (412 | ) | 148,507 | ||||||||||||||||||||||
Total liabilities | 605,586 | (412 | ) | 605,174 | ||||||||||||||||||||||
Accumulated deficit | (67,799 | ) | 1,113 | (66,686 | ) | |||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit | (70,422 | ) | 1,113 | (69,309 | ) | |||||||||||||||||||||
Total deficit | (67,064 | ) | 1,113 | (65,951 | ) | |||||||||||||||||||||
Total liabilities and deficit | 538,522 | 701 | 539,223 | |||||||||||||||||||||||
Consolidated Statements of Operations | ||||||||||||||||||||||||||
Three Months Ended June 30, 2012 | ||||||||||||||||||||||||||
Cost of sales | $ | 371,213 | $ | (1,355 | ) | $ | 369,858 | |||||||||||||||||||
Gross profit | 45,766 | 1,355 | 47,121 | |||||||||||||||||||||||
Operating income | 7,801 | 1,355 | 9,156 | |||||||||||||||||||||||
Loss before provision for income taxes and equity income | (22,418 | ) | 1,355 | (21,063 | ) | |||||||||||||||||||||
Benefit from income taxes | (1,247 | ) | 276 | (971 | ) | |||||||||||||||||||||
Income before equity income | (21,171 | ) | 1,079 | (20,092 | ) | |||||||||||||||||||||
Net loss | (20,970 | ) | 1,079 | (19,891 | ) | |||||||||||||||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (21,084 | ) | 1,079 | (20,005 | ) | |||||||||||||||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | (1.00 | ) | $ | 0.05 | $ | (0.95 | ) | ||||||||||||||||||
Six Months Ended June 30, 2012 | ||||||||||||||||||||||||||
Cost of sales | $ | 763,914 | $ | (619 | ) | $ | 763,295 | |||||||||||||||||||
Gross profit | 96,456 | 619 | 97,075 | |||||||||||||||||||||||
Operating income | 40,568 | 619 | 41,187 | |||||||||||||||||||||||
Income before provision for income taxes and equity income | 289 | 619 | 908 | |||||||||||||||||||||||
Provision for income taxes | 7,221 | 6 | 7,227 | |||||||||||||||||||||||
Loss before equity income | (6,932 | ) | 613 | (6,319 | ) | |||||||||||||||||||||
Net loss | (6,457 | ) | 613 | (5,844 | ) | |||||||||||||||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (6,625 | ) | 613 | (6,012 | ) | |||||||||||||||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | (0.31 | ) | $ | 0.03 | $ | (0.28 | ) | ||||||||||||||||||
Consolidated Statements of Comprehensive Loss | ||||||||||||||||||||||||||
Three Months Ended June 30, 2012 | ||||||||||||||||||||||||||
Net loss | $ | (20,970 | ) | $ | 1,079 | $ | (19,891 | ) | ||||||||||||||||||
Comprehensive loss | (21,113 | ) | 1,079 | (20,034 | ) | |||||||||||||||||||||
Comprehensive loss attributable to Global Brass and Copper Holdings, Inc. | (21,232 | ) | 1,079 | (20,153 | ) | |||||||||||||||||||||
Six Months Ended June 30, 2012 | ||||||||||||||||||||||||||
Net loss | $ | (6,457 | ) | $ | 613 | $ | (5,844 | ) | ||||||||||||||||||
Comprehensive loss | (6,580 | ) | 613 | (5,967 | ) | |||||||||||||||||||||
Comprehensive loss attributable to Global Brass and Copper Holdings, Inc. | (6,770 | ) | 613 | (6,157 | ) | |||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Six Months Ended June 30, 2012 | ||||||||||||||||||||||||||
Net loss | $ | (6,457 | ) | $ | 613 | $ | (5,844 | ) | ||||||||||||||||||
Net loss attributable to Global Brass and Copper Holdings, Inc. | (6,625 | ) | 613 | (6,012 | ) | |||||||||||||||||||||
Accumulated deficit—Balance, June 30, 2012 | (67,799 | ) | 1,113 | (66,686 | ) | |||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit—Balance, June 30, 2012 | (70,422 | ) | 1,113 | (69,309 | ) | |||||||||||||||||||||
Total deficit—Balance, June 30, 2012 | (67,064 | ) | 1,113 | (65,951 | ) | |||||||||||||||||||||
Consolidated Balance Sheet | ||||||||||||||||||||||||||
September 30, 2012 | ||||||||||||||||||||||||||
Accounts receivable, net of allowance | $ | 210,654 | $ | 984 | $ | 211,638 | ||||||||||||||||||||
Deferred income tax assets—current | 25,390 | 971 | 26,361 | |||||||||||||||||||||||
Income tax receivable | 648 | (174 | ) | 474 | ||||||||||||||||||||||
Total current assets | 445,517 | 1,781 | 447,298 | |||||||||||||||||||||||
Deferred income tax assets—noncurrent | 17,350 | (310 | ) | 17,040 | ||||||||||||||||||||||
Total assets | 554,198 | 1,471 | 555,669 | |||||||||||||||||||||||
Accrued liabilities | 58,620 | 984 | 59,604 | |||||||||||||||||||||||
Income tax payable | — | 58 | 58 | |||||||||||||||||||||||
Total current liabilities | 179,553 | 1,042 | 180,595 | |||||||||||||||||||||||
Total liabilities | 609,685 | 1,042 | 610,727 | |||||||||||||||||||||||
Accumulated deficit | (56,083 | ) | 429 | (55,654 | ) | |||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit | (58,928 | ) | 429 | (58,499 | ) | |||||||||||||||||||||
Total deficit | (55,487 | ) | 429 | (55,058 | ) | |||||||||||||||||||||
Total liabilities and deficit | 554,198 | 1,471 | 555,669 | |||||||||||||||||||||||
Consolidated Statements of Operations | ||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||
Cost of sales | $ | 348,995 | $ | 585 | $ | 349,580 | ||||||||||||||||||||
Gross profit | 44,982 | (585 | ) | 44,397 | ||||||||||||||||||||||
Operating income | 27,629 | (585 | ) | 27,044 | ||||||||||||||||||||||
Income before provision for income taxes and equity income | 18,230 | (585 | ) | 17,645 | ||||||||||||||||||||||
Provision for income taxes | 6,670 | 99 | 6,769 | |||||||||||||||||||||||
Income before equity income | 11,560 | (684 | ) | 10,876 | ||||||||||||||||||||||
Net income | 11,821 | (684 | ) | 11,137 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 11,716 | (684 | ) | 11,032 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.55 | $ | (0.03 | ) | $ | 0.52 | |||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||
Cost of sales | $ | 1,112,909 | $ | (34 | ) | $ | 1,112,875 | |||||||||||||||||||
Gross profit | 141,438 | 34 | 141,472 | |||||||||||||||||||||||
Operating income | 68,197 | 34 | 68,231 | |||||||||||||||||||||||
Income before provision for income taxes and equity income | 18,519 | 34 | 18,553 | |||||||||||||||||||||||
Provision for income taxes | 13,891 | 105 | 13,996 | |||||||||||||||||||||||
Income before equity income | 4,628 | (71 | ) | 4,557 | ||||||||||||||||||||||
Net income | 5,364 | (71 | ) | 5,293 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | ||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ||||||||||||||||||||||||||
Basic | $ | 0.24 | $ | — | $ | 0.24 | ||||||||||||||||||||
Consolidated Statements of Comprehensive Income | ||||||||||||||||||||||||||
Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||
Net income | $ | 11,821 | $ | (684 | ) | $ | 11,137 | |||||||||||||||||||
Comprehensive income | 11,814 | (684 | ) | 11,130 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 11,731 | (684 | ) | 11,047 | ||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | |||||||||||||||||||
Comprehensive income | 5,234 | (71 | ) | 5,163 | ||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | 4,961 | (71 | ) | 4,890 | ||||||||||||||||||||||
Consolidated Statement of Changes in Equity | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||
Net income | $ | 5,364 | $ | (71 | ) | $ | 5,293 | |||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 5,091 | (71 | ) | 5,020 | ||||||||||||||||||||||
Accumulated deficit—Balance, September 30, 2012 | (56,083 | ) | 429 | (55,654 | ) | |||||||||||||||||||||
Total Global Brass and Copper Holdings, Inc. stockholder’s deficit—Balance, September 30, 2012 | (58,928 | ) | 429 | (58,499 | ) | |||||||||||||||||||||
Total deficit—Balance, September 30, 2012 | (55,487 | ) | 429 | (55,058 | ) |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Inventory Disclosure [Abstract] | ' | ' | ||||||||||||||||
Summary of Inventories | ' | ' | ||||||||||||||||
The Company’s inventories were as follows: | The Company’s inventories are as follows: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Raw materials and supplies | $ | 37,766 | $ | 21,320 | ||||||||||||
Raw materials and supplies | $ | 34,646 | $ | 37,766 | Work-in-process | 69,286 | 93,555 | |||||||||||
Work-in-process | 99,119 | 69,286 | Finished goods | 67,326 | 71,072 | |||||||||||||
Finished goods | 75,013 | 67,326 | ||||||||||||||||
Total inventories | $ | 174,378 | $ | 185,947 | ||||||||||||||
Total inventories | $ | 208,778 | $ | 174,378 | ||||||||||||||
Prepaid_Expenses_and_Other_Cur1
Prepaid Expenses and Other Current Assets (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Components of Prepaid Expenses and Other Current Assets | ' | ' | ||||||||||||||||
The Company’s prepaid expenses and other current assets were as follows: | The Company’s prepaid expenses and other current assets are as follows: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Collateral on deposit—commodity derivative contracts | $ | 767 | $ | 4,622 | ||||||||||||
Collateral on deposit—commodity derivative contracts | $ | 1,861 | $ | 767 | Commodity derivative contracts | 548 | — | |||||||||||
Commodity derivative contracts | 5 | 548 | Deferred financing fees, net | — | 3,646 | |||||||||||||
Deferred expense | 13,018 | — | Loss fund payments—workers’ compensation | 6,968 | 7,538 | |||||||||||||
Loss fund payments—workers’ compensation | 6,466 | 6,968 | Prepaid insurance | 1,261 | 1,974 | |||||||||||||
Prepaid insurance | 1,705 | 1,261 | Other | 2,597 | 2,132 | |||||||||||||
Prepaid tooling | 1,926 | 764 | ||||||||||||||||
Other | 1,610 | 1,833 | Total prepaid expenses and other current assets | $ | 12,141 | $ | 19,912 | |||||||||||
Total prepaid expenses and other current assets | $ | 26,591 | $ | 12,141 | ||||||||||||||
Other_Noncurrent_Assets_Tables
Other Noncurrent Assets (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||
Other Noncurrent Assets | ' | ' | ||||||||||||||||
Other noncurrent assets consisted of the following: | Other noncurrent assets consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Deferred financing fees, net | $ | 17,082 | $ | 9,779 | ||||||||||||
Deferred financing fees, net | $ | 15,225 | $ | 17,082 | Utility and other deposits | 668 | 1,060 | |||||||||||
Utility and other deposits | 1,395 | 668 | Interest rate cap agreements | 1 | 157 | |||||||||||||
Interest rate cap agreements | — | 1 | Other | 4 | 177 | |||||||||||||
Other | — | 4 | ||||||||||||||||
Total other noncurrent assets | $ | 17,755 | $ | 11,173 | ||||||||||||||
Total other noncurrent assets | $ | 16,620 | $ | 17,755 | ||||||||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Payables And Accruals [Abstract] | ' | ' | ||||||||||||||||
Components of Accrued Liabilities | ' | ' | ||||||||||||||||
Accrued liabilities consisted of the following: | Accrued liabilities consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | Commodity derivative contracts | $ | — | $ | 1,825 | ||||||||||||
Personnel expense | $ | 20,685 | $ | 20,872 | Personnel expense | 20,872 | 20,548 | |||||||||||
Workers’ compensation | 14,383 | 15,754 | Workers’ compensation | 15,754 | 15,653 | |||||||||||||
Deferred revenue | 13,018 | — | Professional fees | 2,145 | 2,623 | |||||||||||||
Professional fees | 1,826 | 2,145 | Insurance | 2,253 | 1,689 | |||||||||||||
Insurance | 2,358 | 2,253 | Utilities | 1,844 | 1,531 | |||||||||||||
Utilities | 1,877 | 1,844 | Taxes | 1,745 | 1,471 | |||||||||||||
Taxes | 1,371 | 1,745 | Other | 3,811 | 3,264 | |||||||||||||
Tooling | 737 | 686 | ||||||||||||||||
Commodity derivative contracts | 357 | — | Total accrued liabilities | $ | 48,424 | $ | 48,604 | |||||||||||
Other | 3,027 | 3,125 | ||||||||||||||||
Total accrued liabilities | $ | 59,639 | $ | 48,424 | ||||||||||||||
Financing_Tables
Financing (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ' | ||||||||||||||||
Components of Long-Term Debt | ' | ' | ||||||||||||||||
Long-term debt consisted of the following: | Long-term debt consisted of the following: | |||||||||||||||||
As of | As of December 31, | |||||||||||||||||
September 30, | December 31, | 2012 | 2011 | |||||||||||||||
2013 | 2012 | ABL Facility | $ | 14,522 | $ | — | ||||||||||||
ABL Facility | $ | 22,500 | $ | 14,522 | Senior Secured Notes | 375,000 | — | |||||||||||
Senior Secured Notes | 375,000 | 375,000 | Term Loan Facility | — | 310,875 | |||||||||||||
Discount, net of amortization | — | (7,297 | ) | |||||||||||||||
Total long-term debt | $ | 397,500 | $ | 389,522 | ||||||||||||||
389,522 | 303,578 | |||||||||||||||||
Less: Current maturities of long-term debt | — | 31,880 | ||||||||||||||||
Total long-term debt | $ | 389,522 | $ | 271,698 | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ' | ||||||||||||||||||||
Summary of Effective Income Tax Rate | ' | ' | ||||||||||||||||||||
The effective income tax rate, which is provision for income taxes as a percentage of income before provision for income taxes and equity income, differs from the amount determined by applying the applicable U.S. statutory federal income tax rate to pretax results primarily as a result of the following: | The effective income tax rate differs from the amount determined by applying the applicable U.S. statutory federal income tax rate to pretax results primarily as a result of the following: | |||||||||||||||||||||
Nine Months Ended | Year Ended December 31, | |||||||||||||||||||||
September 30, | 2012 | 2011 | 2010 | |||||||||||||||||||
2013 | 2012 | Statutory provision rate | 35 | % | 35 | % | 35 | % | ||||||||||||||
Statutory provision rate | 35 | % | 35 | % | Permanent differences and other items | |||||||||||||||||
Permanent differences and other items | State tax provision | 6.7 | % | 3.9 | % | 6 | % | |||||||||||||||
State tax provision | 7.9 | % | 3.6 | % | Section 199 manufacturing credit | (3.2 | %) | (2.3 | %) | (1.5 | %) | |||||||||||
Section 199 manufacturing credit | (6.9 | %) | (2.8 | %) | Incremental tax effects of foreign earnings | 1.8 | % | 0.2 | % | 0.3 | % | |||||||||||
Return to provision adjustments / Uncertain tax positions | (1.4 | %) | (3.1 | %) | Return to provision adjustments | 1.2 | % | (0.7 | %) | (2.2 | %) | |||||||||||
Non-deductible non-cash compensation | 48.7 | % | 41.2 | % | Re-rate of deferred taxes | (0.8 | %) | (0.3 | %) | (0.2 | %) | |||||||||||
Other | 1.1 | % | 1.5 | % | Non-deductible non-cash compensation | 22 | % | 0.4 | % | 1.8 | % | |||||||||||
Other | (1.0 | %) | 0.4 | % | 0.4 | % | ||||||||||||||||
Effective income tax rate | 84.4 | % | 75.4 | % | ||||||||||||||||||
Effective income tax rate | 61.7 | % | 36.6 | % | 39.6 | % | ||||||||||||||||
Income Before Provision for Income Taxes and Equity Income | ' | ' | ||||||||||||||||||||
Income before provision for income taxes and equity income is comprised of the following: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||
Domestic | $ | 24,583 | $ | 81,534 | $ | 61,903 | ||||||||||||||||
Foreign | 6,502 | 4,303 | 5,388 | |||||||||||||||||||
Total | $ | 31,085 | $ | 85,837 | $ | 67,291 | ||||||||||||||||
Provision for Income Taxes | ' | ' | ||||||||||||||||||||
The provision for income taxes is summarized as follows: | ||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||
Current tax provision | ||||||||||||||||||||||
U.S. federal | $ | 10,329 | $ | 16,518 | $ | 13,663 | ||||||||||||||||
State and local | 1,923 | 3,347 | 5,660 | |||||||||||||||||||
Foreign | 1,685 | 1,081 | 1,312 | |||||||||||||||||||
Total current | 13,937 | 20,946 | 20,635 | |||||||||||||||||||
Deferred tax provision | ||||||||||||||||||||||
U.S. federal | 4,389 | 10,209 | 5,760 | |||||||||||||||||||
State and local | 571 | 188 | 372 | |||||||||||||||||||
Foreign | 288 | 94 | (91 | ) | ||||||||||||||||||
Total deferred | 5,248 | 10,491 | 6,041 | |||||||||||||||||||
Total provision | $ | 19,185 | $ | 31,437 | $ | 26,676 | ||||||||||||||||
Deferred Tax Assets and Liabilities | ' | ' | ||||||||||||||||||||
Deferred tax assets and liabilities are comprised of the following: | ||||||||||||||||||||||
As of December 31, | ||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||
Deferred tax assets | ||||||||||||||||||||||
Inventory | $ | 48,932 | $ | 50,936 | ||||||||||||||||||
Accruals and other reserves | 7,721 | 8,376 | ||||||||||||||||||||
Financing fees | — | 731 | ||||||||||||||||||||
Accounts receivable | 1,082 | 939 | ||||||||||||||||||||
UNICAP adjustment | 1,278 | 1,319 | ||||||||||||||||||||
Derivative contracts | 487 | 1,104 | ||||||||||||||||||||
Other | 680 | — | ||||||||||||||||||||
Gross deferred tax assets | $ | 60,180 | $ | 63,405 | ||||||||||||||||||
Deferred tax liabilities | ||||||||||||||||||||||
Investments in foreign entities | $ | 7,310 | $ | 6,507 | ||||||||||||||||||
Fixed assets and intangibles | 11,122 | 7,139 | ||||||||||||||||||||
Financing fees | 2,145 | — | ||||||||||||||||||||
Other | — | 762 | ||||||||||||||||||||
Gross deferred tax liability | 20,577 | 14,408 | ||||||||||||||||||||
Net deferred tax asset | $ | 39,603 | $ | 48,997 | ||||||||||||||||||
Net current deferred tax asset | $ | 33,465 | $ | 29,027 | ||||||||||||||||||
Net long-term deferred tax asset | 6,138 | 19,970 | ||||||||||||||||||||
Net deferred tax asset | $ | 39,603 | $ | 48,997 | ||||||||||||||||||
Reconciliation of Summary of Activity of Uncertain Tax Positions | ' | ' | ||||||||||||||||||||
A reconciliation of the summary of activity of the Company’s uncertain tax positions is summarized as follows: | ||||||||||||||||||||||
Balance at January 1, 2011 | $ | 35,483 | ||||||||||||||||||||
Additions for tax positions related to prior years | 207 | |||||||||||||||||||||
Reductions for tax positions related to prior years | (4,350 | ) | ||||||||||||||||||||
Balance at December 31, 2011 | $ | 31,340 | ||||||||||||||||||||
Additions for tax positions related to prior years | — | |||||||||||||||||||||
Reductions for tax positions related to prior years | (1,963 | ) | ||||||||||||||||||||
Reductions due to tax settlements | (1,515 | ) | ||||||||||||||||||||
Reductions due to tax statute of limitations | (461 | ) | ||||||||||||||||||||
Balance at December 31, 2012 | $ | 27,401 | ||||||||||||||||||||
Derivative_Contracts_Tables
Derivative Contracts (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Effects of Derivative Contracts in Condensed Consolidated Financial Statements | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the gross amounts of recognized derivative assets and liabilities, the net amounts presented in the consolidated balance sheet, and the net amounts after deducting collateral that has been deposited with counterparties: | The following tables summarize the gross amounts of recognized derivative assets and liabilities, the net amounts presented in the consolidated balance sheet, and the net amounts after deducting collateral that has been deposited with counterparties: | |||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Amounts Not Offset in | |||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | the Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Received | Recognized | Offset in | Presented in | Received | |||||||||||||||||||||||||||||||||||||||||||
Assets | Consolidated | Consolidated | Assets | Consolidated | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Balance | Balance | |||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||
Open metal contracts | $ | 722 | $ | (722 | ) | $ | — | $ | — | $ | — | $ | — | Open metals contracts | $ | 603 | $ | (224 | ) | $ | 379 | $ | — | $ | — | $ | 379 | |||||||||||||||||||||||
(361 contracts) | (208 contracts) | |||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 56 | (51 | ) | 5 | — | — | 5 | Open natural gas contracts | 2 | — | 2 | — | — | 2 | ||||||||||||||||||||||||||||||||||||
(10 contracts) | (6 contracts) | |||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 169 | (2 | ) | 167 | — | — | 167 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 778 | $ | (773 | ) | $ | 5 | $ | — | $ | — | $ | 5 | (17 contracts) | ||||||||||||||||||||||||||||||||||||
Interest rate cap agreements | 1 | — | 1 | — | — | 1 | ||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | (2 contracts) | |||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 775 | $ | (226 | ) | $ | 549 | $ | — | $ | — | $ | 549 | |||||||||||||||||||||||||||||||||||||
Total | $ | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 548 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Other noncurrent assets | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | Total | $ | 549 | |||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Deposited | Amounts Not Offset in | ||||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Consolidated | Consolidated | the Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||
Open metal contracts | $ | 1,074 | $ | (722 | ) | $ | 352 | $ | — | $ | 352 | $ | — | Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||
(406 contracts) | Recognized | Offset in | Presented in | Deposited | ||||||||||||||||||||||||||||||||||||||||||||||
Open natural gas contracts | 5 | — | 5 | — | 5 | — | Liabilities | Consolidated | Consolidated | |||||||||||||||||||||||||||||||||||||||||
(4 contracts) | Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 51 | (51 | ) | — | — | — | — | Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||
(14 contract) | Open metals contracts | $ | 224 | $ | (224 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||
(85 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,130 | $ | (773 | ) | $ | 357 | $ | — | $ | 357 | $ | — | Open electricity contracts | 2 | (2 | ) | — | — | — | — | |||||||||||||||||||||||||||||
(1 contract) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued liabilities | $ | 357 | Total | $ | 226 | $ | (226 | ) | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||
Total | $ | 357 | ||||||||||||||||||||||||||||||||||||||||||||||||
Not included in the above table is $1,504 of collateral included in prepaid expenses and other current assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts Not | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Offset in the | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Consolidated Balance | |||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet | (dollars in thousands) | Gross | Gross | Net Amounts | Financial | Cash | Net | |||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Assets | Instruments | Collateral | Amount | Recognized | Offset in | Presented in | Received | |||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Received | Assets | Consolidated | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Assets | Consolidated | Consolidated | Balance | Balance | ||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Sheet | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Open metals contracts (88 contracts) | $ | 294 | $ | (294 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Open metals contracts | $ | 603 | $ | (224 | ) | $ | 379 | $ | — | $ | — | $ | 379 | Open electricity contracts (6 contracts) | 43 | (43 | ) | — | — | — | — | |||||||||||||||||||||||||||||
(208 contracts) | Interest rate cap agreements (2 contracts) | 157 | — | 157 | — | — | 157 | |||||||||||||||||||||||||||||||||||||||||||
Open natural gas contracts | 2 | — | 2 | — | — | 2 | ||||||||||||||||||||||||||||||||||||||||||||
(6 contracts) | Total | $ | 494 | $ | (337 | ) | $ | 157 | $ | — | $ | — | $ | 157 | ||||||||||||||||||||||||||||||||||||
Open electricity contracts | 169 | (2 | ) | 167 | — | — | 167 | |||||||||||||||||||||||||||||||||||||||||||
(17 contracts) | Consolidated balance sheet location: | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate cap agreements | 1 | — | 1 | — | — | 1 | Other noncurrent assets | $ | 157 | |||||||||||||||||||||||||||||||||||||||||
(2 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 775 | $ | (226 | ) | $ | 549 | $ | — | $ | — | $ | 549 | Gross Amounts Not | ||||||||||||||||||||||||||||||||||||
Offset in the | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consolidated balance sheet location: | Consolidated Balance | |||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 548 | Sheet | |||||||||||||||||||||||||||||||||||||||||||||||
Other noncurrent assets | 1 | (dollars in thousands) | Gross | Gross | Net Amounts | Financial | Cash | Net | ||||||||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 549 | Recognized | Offset in | Presented in | Deposited | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities | Consolidated | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | |||||||||||||||||||||||||||||||||||||||||||||||||
Amounts Not Offset in | Sheet | Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||
the Consolidated | Open metals contracts (151 contracts) | $ | 1,647 | $ | (294 | ) | $ | 1,353 | $ | — | $ | (1,353 | ) | $ | — | |||||||||||||||||||||||||||||||||||
Balance Sheet | Open natural gas contracts (31 contracts) | 384 | — | 384 | — | (384 | ) | — | ||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Net Amounts | Financial | Cash | Net | Open electricity contracts (8 contracts) | 131 | (43 | ) | 88 | — | — | 88 | |||||||||||||||||||||||||||||||||||||
Amounts of | Amounts | of Liabilities | Instruments | Collateral | Amount | |||||||||||||||||||||||||||||||||||||||||||||
Recognized | Offset in | Presented in | Deposited | Total | $ | 2,162 | $ | (337 | ) | $ | 1,825 | $ | — | $ | (1,737 | ) | $ | 88 | ||||||||||||||||||||||||||||||||
Liabilities | Consolidated | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Balance | Consolidated balance sheet location: | ||||||||||||||||||||||||||||||||||||||||||||||||
Sheet | Sheet | Accrued liabilities | $ | 1,825 | ||||||||||||||||||||||||||||||||||||||||||||||
Open metals contracts | $ | 224 | $ | (224 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
(85 contracts) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Open electricity contracts | 2 | (2 | ) | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||
(1 contract) | The following table summarizes the effects of derivative contracts in the consolidated statements of operations: | |||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 226 | $ | (226 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||
Not included in the above table is $767 of collateral included in prepaid expenses and other current assets, which is because collateral is limited to the net amounts of assets or liabilities presented in the consolidated balance sheet. | Cost of sales | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the effects of derivative contracts in the consolidated statements of operations: | Realized and unrealized loss—metal contracts | $ | 1,339 | $ | 3,884 | $ | 7,605 | |||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized loss—natural gas contracts | 76 | 517 | 1,825 | |||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized loss—electricity contracts | 243 | 57 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | Total | $ | 1,658 | $ | 4,458 | $ | 9,430 | |||||||||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Cost of sales | Interest expense | |||||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—metal contracts | $ | (143 | ) | $ | 614 | Unrealized loss (gain)—interest rate cap agreements | $ | 156 | $ | 1,851 | $ | (800 | ) | |||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—natural gas contracts | (12 | ) | 113 | |||||||||||||||||||||||||||||||||||||||||||||||
Realized and unrealized (loss) gain—electricity contracts | (193 | ) | 222 | |||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | (348 | ) | $ | 949 | |||||||||||||||||||||||||||||||||||||||||||||
Interest expense | ||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized loss—interest rate cap agreements | $ | (1 | ) | $ | (156 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||
Schedule of Assets and Liabilities Measured at Fair Value | ' | ' | ||||||||||||||||||||||||||||||||
The following tables provide the hierarchy of inputs used to derive the fair value of the Company’s assets and liabilities at fair value on a recurring basis as of September 30, 2013 and December 31, 2012: | The following tables provide the hierarchy of inputs used to derive the fair value of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 and December 31, 2011: | |||||||||||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | |||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||
Open electricity contracts | $ | — | $ | 5 | $ | — | $ | 5 | Open metal contracts | $ | — | $ | 379 | $ | — | $ | 379 | |||||||||||||||||
Open natural gas contracts | — | 2 | — | 2 | ||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 5 | $ | — | $ | 5 | Open electricity contracts | — | 167 | — | 167 | |||||||||||||||||||||
Interest rate cap agreements | — | 1 | — | 1 | ||||||||||||||||||||||||||||||
Open metal contracts | $ | — | $ | 352 | $ | — | $ | 352 | ||||||||||||||||||||||||||
Open natural gas contracts | — | 5 | — | 5 | Total assets | $ | — | $ | 549 | $ | — | $ | 549 | |||||||||||||||||||||
Total liabilities | $ | — | $ | 357 | $ | — | $ | 357 | ||||||||||||||||||||||||||
As of December 31, 2011 | ||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||
Interest rate cap agreements | $ | — | $ | 157 | $ | — | $ | 157 | ||||||||||||||||||||||||||
As of December 31, 2012 | ||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total assets | $ | — | $ | 157 | $ | — | $ | 157 | ||||||||||||||||||||||
Open metal contracts | $ | — | $ | 379 | $ | — | $ | 379 | ||||||||||||||||||||||||||
Open natural gas contracts | — | 2 | — | 2 | Open metal contracts | $ | — | $ | 1,353 | $ | — | $ | 1,353 | |||||||||||||||||||||
Open electricity contracts | — | 167 | — | 167 | Open natural gas contracts | — | 384 | — | 384 | |||||||||||||||||||||||||
Interest rate cap agreements | — | 1 | — | 1 | Open electricity contracts | — | 88 | — | 88 | |||||||||||||||||||||||||
Total assets | $ | — | $ | 549 | $ | — | $ | 549 | Total liabilities | $ | — | $ | 1,825 | $ | — | $ | 1,825 | |||||||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ' | ||||||||||||||||||||||||
Reconciliation of Segment Adjusted EBITDA to Income Before Provision for Income Taxes and Equity Income | ' | ' | ||||||||||||||||||||||||
Below is a reconciliation of the Company’s Segment Adjusted EBITDA to income before provision for income taxes and equity income: | Below is a reconciliation of the Company’s Segment Adjusted EBITDA to income before provision for income taxes and equity income: | |||||||||||||||||||||||||
Nine Months Ended | Year Ended December 31, | |||||||||||||||||||||||||
September 30, | 2012 | 2011 | 2010 | |||||||||||||||||||||||
2013 | 2012 | Net Sales, External Customers | ||||||||||||||||||||||||
Net Sales, External Customers | Olin Brass | $ | 676,563 | $ | 718,244 | $ | 710,271 | |||||||||||||||||||
Olin Brass | $ | 613,926 | $ | 496,786 | Chase | 647,711 | 704,968 | 611,870 | ||||||||||||||||||
Chase | 488,475 | 505,951 | Oster | 326,246 | 355,931 | 336,588 | ||||||||||||||||||||
Oster | 243,277 | 251,610 | ||||||||||||||||||||||||
Total net sales, external customers | $ | 1,650,520 | $ | 1,779,143 | $ | 1,658,729 | ||||||||||||||||||||
Total net sales, external customers | $ | 1,345,678 | $ | 1,254,347 | ||||||||||||||||||||||
Intersegment Net Sales | ||||||||||||||||||||||||||
Intersegment Net Sales | Olin Brass | $ | 46,287 | $ | 48,312 | $ | 57,919 | |||||||||||||||||||
Olin Brass | $ | 40,539 | $ | 36,315 | Chase | 305 | 626 | 765 | ||||||||||||||||||
Chase | 7 | 302 | Oster | 167 | 285 | 928 | ||||||||||||||||||||
Oster | 173 | 81 | ||||||||||||||||||||||||
Total intersegment net sales | $ | 46,759 | $ | 49,223 | $ | 59,612 | ||||||||||||||||||||
Total intersegment net sales | $ | 40,719 | $ | 36,698 | ||||||||||||||||||||||
Segment Adjusted EBITDA | ||||||||||||||||||||||||||
Segment Adjusted EBITDA | Olin Brass | $ | 45,115 | $ | 45,320 | $ | 23,291 | |||||||||||||||||||
Olin Brass | $ | 41,209 | $ | 37,432 | Chase | 66,641 | 73,658 | 61,158 | ||||||||||||||||||
Chase | 53,831 | 53,311 | Oster | 19,517 | 17,898 | 21,324 | ||||||||||||||||||||
Oster | 13,164 | 15,137 | ||||||||||||||||||||||||
Total segment adjusted EBITDA | 131,273 | 136,876 | 105,773 | |||||||||||||||||||||||
Total segment adjusted EBITDA | 108,204 | 105,880 | Corporate and Eliminations | (20,562 | ) | (19,518 | ) | (15,714 | ) | |||||||||||||||||
Corporate and Other | (19,101 | ) | (14,664 | ) | Loss on extinguishment of debt | (19,612 | ) | — | — | |||||||||||||||||
Loss on extinguishment of debt | — | (19,612 | ) | Depreciation and amortization | (6,934 | ) | (4,759 | ) | (2,971 | ) | ||||||||||||||||
Depreciation and amortization | (6,101 | ) | (4,891 | ) | Interest expense | (39,727 | ) | (40,010 | ) | (25,076 | ) | |||||||||||||||
Interest expense | (29,938 | ) | (29,894 | ) | Equity method investment income | (A | ) | (271 | ) | (164 | ) | (806 | ) | |||||||||||||
Equity method investment income(A) | (605 | ) | (193 | ) | Net income attributable to noncontrolling interest | 374 | 156 | 512 | ||||||||||||||||||
Net income attributable to noncontrolling interest | 228 | 273 | LIFO liquidation gain | 4,775 | 15,236 | 21,009 | ||||||||||||||||||||
Lower of cost or market adjustment to inventory | (318 | ) | (302 | ) | Lower of cost or market adjustment to inventory | (302 | ) | — | — | |||||||||||||||||
(Loss) gain on derivative contracts | (1,062 | ) | 1,473 | Gain (loss) on derivative contracts | 1,588 | (1,095 | ) | (11,984 | ) | |||||||||||||||||
Share-based compensation expense | (989 | ) | — | Compensation expense—profits interest awards | (19,517 | ) | (885 | ) | (3,452 | ) | ||||||||||||||||
Compensation expense—profits interest awards | (29,271 | ) | (19,517 | ) | ||||||||||||||||||||||
Income before provision for income taxes and equity income | $ | 31,085 | $ | 85,837 | $ | 67,291 | ||||||||||||||||||||
Income before provision for income taxes and equity income | $ | 21,047 | $ | 18,553 | ||||||||||||||||||||||
(A) | Excludes accretion income of $724 in each of the years ended December 31, 2012, 2011 and 2010. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||
(A) | Excludes accretion income of $543 in both the nine months ended September 30, 2013 and 2012. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||
Depreciation and amortization | ||||||||||||||||||||||||||
Olin Brass | $ | 3,849 | $ | 2,622 | $ | 1,624 | ||||||||||||||||||||
Chase | 2,521 | 1,921 | 1,200 | |||||||||||||||||||||||
Oster | 247 | 196 | 147 | |||||||||||||||||||||||
Corporate and Eliminations | 317 | 20 | — | |||||||||||||||||||||||
Total depreciation and amortization | $ | 6,934 | $ | 4,759 | $ | 2,971 | ||||||||||||||||||||
LIFO liquidation gain/(loss) | ||||||||||||||||||||||||||
Olin Brass | $ | 175 | $ | 8,401 | $ | 23,253 | ||||||||||||||||||||
Chase | 1,623 | — | 75 | |||||||||||||||||||||||
Oster | 4,478 | 7,050 | (48 | ) | ||||||||||||||||||||||
Corporate and Eliminations | (1,501 | ) | (215 | ) | (2,271 | ) | ||||||||||||||||||||
Total LIFO liquidation gain | $ | 4,775 | $ | 15,236 | $ | 21,009 | ||||||||||||||||||||
Capital expenditures | ||||||||||||||||||||||||||
Olin Brass | $ | 12,455 | $ | 10,818 | $ | 3,999 | ||||||||||||||||||||
Chase | 6,846 | 10,171 | 7,377 | |||||||||||||||||||||||
Oster | 558 | 505 | 551 | |||||||||||||||||||||||
Corporate and Eliminations | 549 | 946 | — | |||||||||||||||||||||||
Total capital expenditures | $ | 20,408 | $ | 22,440 | $ | 11,927 | ||||||||||||||||||||
Summarized Geographic Information | ' | ' | ||||||||||||||||||||||||
Summarized geographic information is shown in the following table. Net sales are attributed to individual countries based on the location from which the products are shipped. No customer represented 10 percent or more of consolidated revenues in 2012, 2011 or 2010. | ||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||
2012 | 2011 | 2010 | ||||||||||||||||||||||||
Net sales: | ||||||||||||||||||||||||||
United States | $ | 1,556,865 | $ | 1,691,007 | $ | 1,567,472 | ||||||||||||||||||||
Asia Pacific | 53,668 | 54,638 | 62,358 | |||||||||||||||||||||||
Mexico | 39,987 | 33,498 | 28,899 | |||||||||||||||||||||||
Total net sales | $ | 1,650,520 | $ | 1,779,143 | $ | 1,658,729 | ||||||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Schedule of Basic and Diluted Earning Per Shares Attributable to Company | ' | ||||||||
The following table sets forth the computation of basic and diluted earnings per share attributable to the Company: | |||||||||
Nine Months Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Numerator | |||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,205 | $ | 5,020 | |||||
Denominator | |||||||||
Weighted-average common shares outstanding | 21,110,000 | 21,110,000 | |||||||
Effect of potentially dilutive securities: | |||||||||
Stock options and nonvested share awards | 24,169 | — | |||||||
Weighted-average common shares outstanding, assuming dilution | 21,134,169 | 21,110,000 | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||
Basic | $ | 0.2 | $ | 0.24 | |||||
Diluted | $ | 0.2 | $ | 0.24 |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Dec. 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet | |||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2013 | 31-Dec-12 | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Current assets: | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ | — | $ | 11,164 | $ | 2,633 | $ | 4,291 | $ | — | $ | 18,088 | Assets | |||||||||||||||||||||||||||||||||||||
Accounts receivable, net of allowance | — | 4,914 | 176,272 | 17,287 | — | 198,473 | Current assets: | |||||||||||||||||||||||||||||||||||||||||||
Inventories | — | — | 193,825 | 15,363 | (410 | ) | 208,778 | Cash | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | |||||||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 10,064 | 16,441 | 86 | — | 26,591 | Accounts receivable, net of allowance | — | 4,630 | 144,533 | 15,154 | — | 164,317 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 32,122 | — | — | — | 32,122 | Inventories | — | 343 | 158,713 | 15,885 | (563 | ) | 174,378 | ||||||||||||||||||||||||||||||||||||
Income tax receivable, net | — | 799 | — | — | (174 | ) | 625 | Prepaid expenses and other current assets | — | 9,229 | 2,600 | 312 | — | 12,141 | ||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 33,465 | — | — | — | 33,465 | ||||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 59,063 | 389,171 | 37,027 | (584 | ) | 484,677 | Income tax receivable, net | — | 1,656 | — | — | (356 | ) | 1,300 | |||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 976 | 76,810 | 351 | — | 78,137 | ||||||||||||||||||||||||||||||||||||||||||||
Investment in joint venture | — | — | 2,184 | — | — | 2,184 | Total current assets | — | 57,860 | 305,846 | 36,797 | (1,040 | ) | 399,463 | ||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | — | 623,442 | 19,974 | — | (643,416 | ) | — | Property, plant and equipment, net | — | 1,154 | 69,646 | 327 | — | 71,127 | ||||||||||||||||||||||||||||||||||||
Intercompany accounts | — | — | 270,599 | — | (270,599 | ) | — | Investment in joint venture | — | — | 2,972 | — | — | 2,972 | ||||||||||||||||||||||||||||||||||||
Goodwill | — | — | 4,399 | — | — | 4,399 | Investment in subsidiaries | — | 522,912 | 19,850 | — | (542,762 | ) | — | ||||||||||||||||||||||||||||||||||||
Intangible assets, net | — | — | 762 | — | — | 762 | Intercompany accounts | — | — | 223,081 | — | (223,081 | ) | — | ||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 5,736 | — | — | — | 5,736 | Goodwill | — | — | 4,399 | — | — | 4,399 | |||||||||||||||||||||||||||||||||||||
Other noncurrent assets | — | 15,705 | 915 | — | — | 16,620 | Intangible assets, net | — | — | 839 | — | — | 839 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 6,138 | — | — | — | 6,138 | ||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 704,922 | $ | 764,814 | $ | 37,378 | $ | (914,599 | ) | $ | 592,515 | Other noncurrent assets | — | 17,115 | 640 | — | — | 17,755 | ||||||||||||||||||||||||||||||
Liabilities and (deficit) / equity | Total assets | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | ||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | — | $ | 2,455 | $ | 101,105 | $ | 2,161 | $ | (410 | ) | $ | 105,311 | Liabilities and (deficit) / equity | ||||||||||||||||||||||||||||||||||||
Accrued liabilities | — | 18,710 | 40,232 | 697 | — | 59,639 | Current liabilities: | |||||||||||||||||||||||||||||||||||||||||||
Accrued interest | — | 12,448 | — | — | — | 12,448 | Accounts payable | $ | — | $ | 1,398 | $ | 77,390 | $ | 2,910 | $ | (121 | ) | $ | 81,577 | ||||||||||||||||||||||||||||||
Income tax payable | — | — | 35 | 295 | (174 | ) | 156 | Accrued liabilities | — | 20,592 | 26,971 | 861 | — | 48,424 | ||||||||||||||||||||||||||||||||||||
Accrued interest | — | 3,287 | — | — | — | 3,287 | ||||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | — | 33,613 | 141,372 | 3,153 | (584 | ) | 177,554 | Income taxes payable | — | 248 | — | 356 | (356 | ) | 248 | |||||||||||||||||||||||||||||||||||
Long-term debt | — | 397,500 | — | — | — | 397,500 | ||||||||||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 26,312 | — | — | — | 26,312 | Total current liabilities | — | 25,525 | 104,361 | 4,127 | (477 | ) | 133,536 | ||||||||||||||||||||||||||||||||||||
Obligations and advances in excess of investment in subsidiary | 5,447 | — | — | — | (5,447 | ) | — | Long-term debt | — | 389,522 | — | — | — | 389,522 | ||||||||||||||||||||||||||||||||||||
Intercompany accounts | 7,269 | 252,944 | — | 10,386 | (270,599 | ) | — | Other noncurrent liabilities | — | 27,436 | — | — | — | 27,436 | ||||||||||||||||||||||||||||||||||||
Obligations and advances in excess of investment in subsidiary | 42,522 | — | — | — | (42,522 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 12,716 | 710,369 | 141,372 | 13,539 | (276,630 | ) | 601,366 | Intercompany accounts | 8,829 | 205,218 | — | 9,597 | (223,644 | ) | — | |||||||||||||||||||||||||||||||||||
Commitments and contingencies | — | — | — | — | — | — | Total liabilities | 51,351 | 647,701 | 104,361 | 13,724 | (266,643 | ) | 550,494 | ||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholders’ (deficit) / equity | (12,716 | ) | (5,447 | ) | 623,442 | 19,974 | (637,969 | ) | (12,716 | ) | ||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest | — | — | — | 3,865 | — | 3,865 | Commitments and contingencies | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 19,850 | (500,240 | ) | (51,351 | ) | ||||||||||||||||||||||||||||||||||||||||
Total (deficit) / equity | (12,716 | ) | (5,447 | ) | 623,442 | 23,839 | (637,969 | ) | (8,851 | ) | Noncontrolling interest | — | — | — | 3,550 | — | 3,550 | |||||||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | — | $ | 704,922 | $ | 764,814 | $ | 37,378 | $ | (914,599 | ) | $ | 592,515 | Total (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 23,400 | (500,240 | ) | (47,801 | ) | ||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2012 | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Condensed Consolidating Balance Sheet | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | 31-Dec-11 | ||||||||||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||
Current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||
Accounts receivable, net of allowance | — | 4,630 | 144,533 | 15,154 | — | 164,317 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||
Inventories | — | 343 | 158,713 | 15,885 | (563 | ) | 174,378 | Assets | ||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | — | 9,229 | 2,600 | 312 | — | 12,141 | Current assets: | |||||||||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 33,465 | — | — | — | 33,465 | Cash | $ | — | $ | 45,302 | $ | — | $ | 4,648 | $ | (413 | ) | $ | 49,537 | ||||||||||||||||||||||||||||||
Income tax receivable, net | — | 1,656 | — | — | (356 | ) | 1,300 | Accounts receivable, net of allowance | — | 4,184 | 145,083 | 12,448 | — | 161,715 | ||||||||||||||||||||||||||||||||||||
Inventories | — | 218 | 174,429 | 11,921 | (621 | ) | 185,947 | |||||||||||||||||||||||||||||||||||||||||||
Total current assets | — | 57,860 | 305,846 | 36,797 | (1,040 | ) | 399,463 | Prepaid expenses and other current assets | — | 17,916 | 2,245 | 135 | (384 | ) | 19,912 | |||||||||||||||||||||||||||||||||||
Property, plant and equipment, net | — | 1,154 | 69,646 | 327 | — | 71,127 | Deferred income taxes | — | 29,027 | — | — | — | 29,027 | |||||||||||||||||||||||||||||||||||||
Investment in joint venture | — | — | 2,972 | — | — | 2,972 | Income tax receivable, net | — | 5,204 | 128 | — | (286 | ) | 5,046 | ||||||||||||||||||||||||||||||||||||
Investment in subsidiaries | — | 522,912 | 19,850 | — | (542,762 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Intercompany accounts | — | — | 223,081 | — | (223,081 | ) | — | Total current assets | — | 101,851 | 321,885 | 29,152 | (1,704 | ) | 451,184 | |||||||||||||||||||||||||||||||||||
Goodwill | — | — | 4,399 | — | — | 4,399 | Property, plant and equipment, net | — | 923 | 56,322 | 311 | — | 57,556 | |||||||||||||||||||||||||||||||||||||
Intangible assets, net | — | — | 839 | — | — | 839 | Investment in joint venture | — | — | 3,507 | — | — | 3,507 | |||||||||||||||||||||||||||||||||||||
Deferred income taxes | — | 6,138 | — | — | — | 6,138 | Investment in subsidiaries | 85,020 | 393,708 | 13,351 | — | (492,079 | ) | — | ||||||||||||||||||||||||||||||||||||
Other noncurrent assets | — | 17,115 | 640 | — | — | 17,755 | Intercompany accounts | — | — | 92,889 | — | (92,889 | ) | — | ||||||||||||||||||||||||||||||||||||
Goodwill | — | — | 4,399 | — | — | 4,399 | ||||||||||||||||||||||||||||||||||||||||||||
Total assets | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | Intangible assets, net | — | — | 951 | — | — | 951 | ||||||||||||||||||||||||||||||
Deferred income taxes | — | 19,970 | — | — | — | 19,970 | ||||||||||||||||||||||||||||||||||||||||||||
Liabilities and (deficit) / equity | Other noncurrent assets | — | 9,963 | 1,210 | — | — | 11,173 | |||||||||||||||||||||||||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts payable | $ | — | $ | 1,398 | $ | 77,390 | $ | 2,910 | $ | (121 | ) | $ | 81,577 | Total assets | $ | 85,020 | $ | 526,415 | $ | 494,514 | $ | 29,463 | $ | (586,672 | ) | $ | 548,740 | |||||||||||||||||||||||
Accrued liabilities | — | 20,592 | 26,971 | 861 | — | 48,424 | ||||||||||||||||||||||||||||||||||||||||||||
Accrued interest | — | 3,287 | — | — | — | 3,287 | Liabilities and (deficit) / equity | |||||||||||||||||||||||||||||||||||||||||||
Income tax payable | — | 248 | — | 356 | (356 | ) | 248 | Current liabilities: | ||||||||||||||||||||||||||||||||||||||||||
Current maturities of long-term debt | $ | — | $ | 31,880 | $ | — | $ | — | $ | — | $ | 31,880 | ||||||||||||||||||||||||||||||||||||||
Total current liabilities | — | 25,525 | 104,361 | 4,127 | (477 | ) | 133,536 | Accounts payable | — | — | 76,190 | 2,495 | (797 | ) | 77,888 | |||||||||||||||||||||||||||||||||||
Long-term debt | — | 389,522 | — | — | — | 389,522 | Accrued liabilities | — | 23,202 | 24,616 | 786 | — | 48,604 | |||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 27,436 | — | — | — | 27,436 | Accrued interest | — | 4,069 | — | — | — | 4,069 | |||||||||||||||||||||||||||||||||||||
Obligations and advances in excess of investment in subsidiary | 42,522 | — | — | — | (42,522 | ) | — | Income taxes payable | — | 300 | — | 286 | (286 | ) | 300 | |||||||||||||||||||||||||||||||||||
Intercompany accounts | 8,829 | 205,218 | — | 9,597 | (223,644 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Total current liabilities | — | 59,451 | 100,806 | 3,567 | (1,083 | ) | 162,741 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities | 51,351 | 647,701 | 104,361 | 13,724 | (266,643 | ) | 550,494 | Long-term debt | — | 271,698 | — | — | — | 271,698 | ||||||||||||||||||||||||||||||||||||
Other noncurrent liabilities | — | 31,641 | — | — | — | 31,641 | ||||||||||||||||||||||||||||||||||||||||||||
Commitments and contingencies | — | — | — | — | — | — | Intercompany accounts | 5,528 | 78,605 | — | 9,377 | (93,510 | ) | — | ||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholders’ (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 19,850 | (500,240 | ) | (51,351 | ) | ||||||||||||||||||||||||||||||||||||||||
Noncontrolling interest | — | — | — | 3,550 | — | 3,550 | Total liabilities | 5,528 | 441,395 | 100,806 | 12,944 | (94,593 | ) | 466,080 | ||||||||||||||||||||||||||||||||||||
Total (deficit) / equity | (51,351 | ) | (42,522 | ) | 522,912 | 23,400 | (500,240 | ) | (47,801 | ) | Commitments and contingencies | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. stockholder’s (deficit) / equity | 79,492 | 85,020 | 393,708 | 13,351 | (492,079 | ) | 79,492 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | — | $ | 605,179 | $ | 627,273 | $ | 37,124 | $ | (766,883 | ) | $ | 502,693 | Noncontrolling interest | — | — | — | 3,168 | — | 3,168 | ||||||||||||||||||||||||||||||
Total (deficit) / equity | 79,492 | 85,020 | 393,708 | 16,519 | (492,079 | ) | 82,660 | |||||||||||||||||||||||||||||||||||||||||||
Total liabilities and (deficit) / equity | $ | 85,020 | $ | 526,415 | $ | 494,514 | $ | 29,463 | $ | (586,672 | ) | $ | 548,740 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations | |||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,294,809 | $ | 73,586 | $ | (22,717 | ) | $ | 1,345,678 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||
Cost of sales | — | 1,208 | 1,155,186 | 68,138 | (22,717 | ) | 1,201,815 | Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,584,301 | $ | 93,655 | $ | (27,436 | ) | $ | 1,650,520 | |||||||||||||||||||||||||||||||||||||
Gross profit (loss) | — | (1,208 | ) | 139,623 | 5,448 | — | 143,863 | Cost of sales | — | 83 | 1,409,588 | 85,099 | (27,436 | ) | 1,467,334 | |||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 5,390 | 33,569 | 51,444 | 2,219 | — | 92,622 | ||||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | — | (83 | ) | 174,713 | 8,556 | — | 183,186 | |||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (5,390 | ) | (34,777 | ) | 88,179 | 3,229 | — | 51,241 | Selling, general and administrative expenses | 1,427 | 30,756 | 57,879 | 2,579 | — | 92,641 | |||||||||||||||||||||||||||||||||||
Interest expense | — | 29,938 | — | — | — | 29,938 | ||||||||||||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 264 | (134 | ) | 126 | — | 256 | Operating income (loss) | (1,427 | ) | (30,839 | ) | 116,834 | 5,977 | — | 90,545 | ||||||||||||||||||||||||||||||||||
Interest expense | — | 39,730 | (3 | ) | — | — | 39,727 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | (5,390 | ) | (64,979 | ) | 88,313 | 3,103 | — | 21,047 | Loss on extinguishment of debt | — | 19,612 | — | — | — | 19,612 | |||||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (2,075 | ) | (15,753 | ) | 34,676 | 914 | — | 17,762 | Other (income) expense, net | — | 766 | (120 | ) | (525 | ) | — | 121 | |||||||||||||||||||||||||||||||||
Income (loss) before equity income | (3,315 | ) | (49,226 | ) | 53,637 | 2,189 | — | 3,285 | Income (loss) before provision for income taxes and equity income | (1,427 | ) | (90,947 | ) | 116,957 | 6,502 | — | 31,085 | |||||||||||||||||||||||||||||||||
Equity income, net of tax | 7,520 | 56,746 | 3,109 | — | (66,227 | ) | 1,148 | Provision for (benefit from) income taxes | (550 | ) | (30,066 | ) | 47,828 | 1,973 | — | 19,185 | ||||||||||||||||||||||||||||||||||
Net income | 4,205 | 7,520 | 56,746 | 2,189 | (66,227 | ) | 4,433 | Income (loss) before equity income | (877 | ) | (60,881 | ) | 69,129 | 4,529 | — | 11,900 | ||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 228 | — | 228 | Equity income, net of tax | 13,398 | 74,279 | 5,150 | — | (91,832 | ) | 995 | ||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,205 | $ | 7,520 | $ | 56,746 | $ | 1,961 | $ | (66,227 | ) | $ | 4,205 | Net income | 12,521 | 13,398 | 74,279 | 4,529 | (91,832 | ) | 12,895 | |||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 374 | — | 374 | ||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 12,521 | $ | 13,398 | $ | 74,279 | $ | 4,155 | $ | (91,832 | ) | $ | 12,521 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,204,470 | $ | 69,679 | $ | (19,802 | ) | $ | 1,254,347 | Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Cost of sales | — | (1,896 | ) | 1,071,405 | 63,168 | (19,802 | ) | 1,112,875 | ||||||||||||||||||||||||||||||||||||||||||
Gross profit | — | 1,896 | 133,065 | 6,511 | — | 141,472 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 1,086 | 26,223 | 43,969 | 1,963 | — | 73,241 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,713,367 | $ | 88,136 | $ | (22,360 | ) | $ | 1,779,143 | |||||||||||||||||||||||||||||||||||||
Operating income (loss) | (1,086 | ) | (24,327 | ) | 89,096 | 4,548 | — | 68,231 | Cost of sales | — | 735 | 1,523,655 | 81,443 | (22,360 | ) | 1,583,473 | ||||||||||||||||||||||||||||||||||
Interest expense (income) | — | 29,896 | (2 | ) | — | — | 29,894 | |||||||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | — | 19,612 | — | — | — | 19,612 | Gross profit (loss) | — | (735 | ) | 189,712 | 6,693 | — | 195,670 | ||||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 689 | 2 | (519 | ) | — | 172 | Selling, general and administrative expenses | 1,650 | 15,721 | 49,451 | 2,569 | — | 69,391 | ||||||||||||||||||||||||||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | (1,086 | ) | (74,524 | ) | 89,096 | 5,067 | — | 18,553 | Operating income (loss) | (1,650 | ) | (16,456 | ) | 140,261 | 4,124 | — | 126,279 | |||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (418 | ) | (24,813 | ) | 38,710 | 517 | — | 13,996 | Interest expense | — | 39,950 | 60 | — | — | 40,010 | |||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 292 | 317 | (177 | ) | — | 432 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (668 | ) | (49,711 | ) | 50,386 | 4,550 | — | 4,557 | ||||||||||||||||||||||||||||||||||||||||||
Equity income, net of tax | 5,688 | 55,399 | 5,013 | — | (65,364 | ) | 736 | Income (loss) before provision for income taxes and equity income | (1,650 | ) | (56,698 | ) | 139,884 | 4,301 | — | 85,837 | ||||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (635 | ) | (20,765 | ) | 51,662 | 1,175 | — | 31,437 | ||||||||||||||||||||||||||||||||||||||||||
Net income | 5,020 | 5,688 | 55,399 | 4,550 | (65,364 | ) | 5,293 | |||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 273 | — | 273 | Income (loss) before equity income | (1,015 | ) | (35,933 | ) | 88,222 | 3,126 | — | 54,400 | |||||||||||||||||||||||||||||||||||
Equity income, net of tax | 56,147 | 92,080 | 3,858 | — | (151,197 | ) | 888 | |||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 5,020 | $ | 5,688 | $ | 55,399 | $ | 4,277 | $ | (65,364 | ) | $ | 5,020 | |||||||||||||||||||||||||||||||||||||
Net income | 55,132 | 56,147 | 92,080 | 3,126 | (151,197 | ) | 55,288 | |||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 156 | — | 156 | ||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 55,132 | $ | 56,147 | $ | 92,080 | $ | 2,970 | $ | (151,197 | ) | $ | 55,132 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Operations | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 1,599,714 | $ | 91,256 | $ | (32,241 | ) | $ | 1,658,729 | |||||||||||||||||||||||||||||||||||||
Cost of sales | — | 16,759 | 1,428,661 | 83,516 | (32,241 | ) | 1,496,695 | |||||||||||||||||||||||||||||||||||||||||||
Gross profit (loss) | — | (16,759 | ) | 171,053 | 7,740 | — | 162,034 | |||||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | 1,102 | 12,337 | 52,988 | 2,430 | — | 68,857 | ||||||||||||||||||||||||||||||||||||||||||||
Operating income (loss) | (1,102 | ) | (29,096 | ) | 118,065 | 5,310 | — | 93,177 | ||||||||||||||||||||||||||||||||||||||||||
Interest expense | — | 25,070 | 6 | — | — | 25,076 | ||||||||||||||||||||||||||||||||||||||||||||
Other (income) expense, net | — | 668 | 219 | (77 | ) | — | 810 | |||||||||||||||||||||||||||||||||||||||||||
Income (loss) before provision for income taxes and equity income | (1,102 | ) | (54,834 | ) | 117,840 | 5,387 | — | 67,291 | ||||||||||||||||||||||||||||||||||||||||||
Provision for (benefit from) income taxes | (424 | ) | (20,214 | ) | 46,093 | 1,221 | — | 26,676 | ||||||||||||||||||||||||||||||||||||||||||
Income (loss) before equity income | (678 | ) | (34,620 | ) | 71,747 | 4,166 | — | 40,615 | ||||||||||||||||||||||||||||||||||||||||||
Equity income, net of tax | 42,311 | 76,931 | 5,184 | — | (122,896 | ) | 1,530 | |||||||||||||||||||||||||||||||||||||||||||
Net income | 41,633 | 42,311 | 76,931 | 4,166 | (122,896 | ) | 42,145 | |||||||||||||||||||||||||||||||||||||||||||
Less: Net income attributable to noncontrolling interest | — | — | — | 512 | — | 512 | ||||||||||||||||||||||||||||||||||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $ | 41,633 | $ | 42,311 | $ | 76,931 | $ | 3,654 | $ | (122,896 | ) | $ | 41,633 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | Condensed Consolidating Statement of Comprehensive Income | |||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 4,205 | $ | 7,520 | $ | 56,746 | $ | 2,189 | $ | (66,227 | ) | $ | 4,433 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||
Foreign currency translation adjustment, net of tax | (705 | ) | (705 | ) | (1,181 | ) | 340 | 1,633 | (618 | ) | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||
Net income | $ | 12,521 | $ | 13,398 | $ | 74,279 | $ | 4,529 | $ | (91,832 | ) | $ | 12,895 | |||||||||||||||||||||||||||||||||||||
Comprehensive income | 3,500 | 6,815 | 55,565 | 2,529 | (64,594 | ) | 3,815 | Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 315 | — | 315 | Foreign currency translation adjustment | (457 | ) | (457 | ) | (521 | ) | 1,060 | (74 | ) | (449 | ) | ||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 3,500 | $ | 6,815 | $ | 55,565 | $ | 2,214 | $ | (64,594 | ) | $ | 3,500 | Comprehensive income | 12,064 | 12,941 | 73,758 | 5,589 | (91,906 | ) | 12,446 | |||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 382 | — | 382 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 12,064 | $ | 12,941 | $ | 73,758 | $ | 5,207 | $ | (91,906 | ) | $ | 12,064 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 5,020 | $ | 5,688 | $ | 55,399 | $ | 4,550 | $ | (65,364 | ) | $ | 5,293 | Year Ended December 31, 2011 | ||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment, net of tax | (130 | ) | (130 | ) | (200 | ) | 983 | (653 | ) | (130 | ) | |||||||||||||||||||||||||||||||||||||||
Comprehensive income | 4,890 | 5,558 | 55,199 | 5,533 | (66,017 | ) | 5,163 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 273 | — | 273 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 55,132 | $ | 56,147 | $ | 92,080 | $ | 3,126 | $ | (151,197 | ) | $ | 55,288 | |||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 4,890 | $ | 5,558 | $ | 55,199 | $ | 5,260 | $ | (66,017 | ) | $ | 4,890 | Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 362 | 362 | 415 | (417 | ) | (253 | ) | 469 | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | 55,494 | 56,509 | 92,495 | 2,709 | (151,450 | ) | 55,757 | |||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 263 | — | 263 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 55,494 | $ | 56,509 | $ | 92,495 | $ | 2,446 | $ | (151,450 | ) | $ | 55,494 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Comprehensive Income | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 41,633 | $ | 42,311 | $ | 76,931 | $ | 4,166 | $ | (122,896 | ) | $ | 42,145 | |||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency translation adjustment | 442 | 442 | 1,430 | (1,741 | ) | (60 | ) | 513 | ||||||||||||||||||||||||||||||||||||||||||
Comprehensive income | 42,075 | 42,753 | 78,361 | 2,425 | (122,956 | ) | 42,658 | |||||||||||||||||||||||||||||||||||||||||||
Less: Comprehensive income attributable to noncontrolling interest | — | — | — | 583 | — | 583 | ||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income attributable to Global Brass and Copper Holdings, Inc. | $ | 42,075 | $ | 42,753 | $ | 78,361 | $ | 1,842 | $ | (122,956 | ) | $ | 42,075 | |||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | (5,275 | ) | $ | 15,537 | $ | 1,024 | $ | (6,754 | ) | $ | 4,532 | Subsidiaries | Subsidiaries | ||||||||||||||||||||||||||||||||||
Cash flows from investing activities | Cash flows from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (76 | ) | (13,074 | ) | (55 | ) | — | (13,205 | ) | Net cash provided by operating activities | $ | 73,624 | $ | 58,118 | $ | 19,781 | $ | 1,299 | $ | (70,908 | ) | $ | 81,914 | ||||||||||||||||||||||||||
Payable to subsidiaries | (4,875 | ) | — | — | — | 4,875 | — | Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 170 | 4 | — | 174 | Capital expenditures | — | (549 | ) | (19,813 | ) | (46 | ) | — | (20,408 | ) | |||||||||||||||||||||||||||||||||
Capital distributions from subsidiary | 86,376 | — | — | — | (86,376 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Net cash used in investing activities | (4,875 | ) | (76 | ) | (12,904 | ) | (51 | ) | 4,875 | (13,031 | ) | Payable to subsidiaries | 2,424 | — | — | — | (2,424 | ) | — | |||||||||||||||||||||||||||||||
Cash flows from financing activities | Other | — | — | 32 | — | — | 32 | |||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 337,236 | — | — | — | 337,236 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (329,258 | ) | — | — | — | (329,258 | ) | Net cash provided by (used in) investing activities | 88,800 | (549 | ) | (19,781 | ) | (46 | ) | (88,800 | ) | (20,376 | ) | ||||||||||||||||||||||||||||||
Distribution to stockholder | — | — | — | (2,000 | ) | 2,000 | — | Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||
Net payments (amounts due) from stockholder | 4,875 | — | — | — | — | 4,875 | Deferred financing fees | — | (12,981 | ) | — | — | — | (12,981 | ) | |||||||||||||||||||||||||||||||||||
Proceeds from senior secured notes | — | 375,000 | — | — | — | 375,000 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) financing activities | 4,875 | 7,978 | — | (2,000 | ) | 2,000 | 12,853 | Payments on term loan | — | (310,875 | ) | — | — | — | (310,875 | ) | ||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (128 | ) | — | (128 | ) | Borrowings on ABL Facility | — | 204,275 | — | — | — | 204,275 | |||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (189,753 | ) | — | — | — | (189,753 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash | — | 2,627 | 2,633 | (1,155 | ) | 121 | 4,226 | Distributions to stockholder | (160,000 | ) | (160,000 | ) | — | — | 160,000 | (160,000 | ) | |||||||||||||||||||||||||||||||||
Cash at beginning of period | — | 8,537 | — | 5,446 | (121 | ) | 13,862 | Amounts due from stockholder | (2,424 | ) | — | — | — | — | (2,424 | ) | ||||||||||||||||||||||||||||||||||
Cash at end of period | $ | — | $ | 11,164 | $ | 2,633 | $ | 4,291 | $ | — | $ | 18,088 | Net cash used in financing activities | (162,424 | ) | (94,334 | ) | — | — | 160,000 | (96,758 | ) | ||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (455 | ) | — | (455 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net (decrease) increase in cash | — | (36,765 | ) | — | 798 | 292 | (35,675 | ) | ||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | Cash at beginning of year | — | 45,302 | — | 4,648 | (413 | ) | 49,537 | ||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | Cash at end of year | $ | — | $ | 8,537 | $ | — | $ | 5,446 | $ | (121 | ) | $ | 13,862 | |||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used for) operating activities | $ | 73,624 | $ | 49,063 | $ | 10,765 | $ | (30 | ) | $ | (75,170 | ) | $ | 58,252 | Global Brass and Copper Holdings, Inc. | |||||||||||||||||||||||||||||||||||
Cash flows from investing activities | Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | (549 | ) | (10,790 | ) | (21 | ) | — | (11,360 | ) | Year Ended December 31, 2011 | |||||||||||||||||||||||||||||||||||||||
Capital distributions from subsidiary | 86,376 | — | — | (86,376 | ) | — | ||||||||||||||||||||||||||||||||||||||||||||
Payable to subsidiaries | 2,398 | — | — | — | (2,398 | ) | — | |||||||||||||||||||||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | 25 | — | — | 25 | Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | ||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | 88,774 | (549 | ) | (10,765 | ) | (21 | ) | (88,774 | ) | (11,335 | ) | Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | Net cash provided by operating activities | $ | — | $ | 37,381 | $ | 22,250 | $ | 2,687 | $ | 2,530 | $ | 64,848 | |||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (12,981 | ) | — | — | — | (12,981 | ) | Cash flows from investing activities | |||||||||||||||||||||||||||||||||||||||||
Proceeds from senior secured notes | — | 375,000 | — | — | — | 375,000 | Capital expenditures | — | (946 | ) | (21,429 | ) | (65 | ) | — | (22,440 | ) | |||||||||||||||||||||||||||||||||
Payments on term loan | — | (310,875 | ) | — | — | — | (310,875 | ) | Payable to subsidiaries | 2,451 | — | — | — | (2,451 | ) | — | ||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 142,400 | — | — | — | 142,400 | Other | — | — | 95 | 2 | — | 97 | |||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (113,900 | ) | — | — | — | (113,900 | ) | ||||||||||||||||||||||||||||||||||||||||||
Distribution to stockholder | (160,000 | ) | (160,000 | ) | — | — | 160,000 | (160,000 | ) | Net cash provided by (used in) investing activities | 2,451 | (946 | ) | (21,334 | ) | (63 | ) | (2,451 | ) | (22,343 | ) | |||||||||||||||||||||||||||||
Amounts due from stockholder | (2,398 | ) | — | — | — | — | (2,398 | ) | Cash flows from financing activities | |||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (1,675 | ) | — | — | — | (1,675 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (162,398 | ) | (80,356 | ) | — | — | 160,000 | (82,754 | ) | Payments on term loan | — | (3,300 | ) | — | — | — | (3,300 | ) | ||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (682 | ) | — | (682 | ) | Borrowings on ABL Facility | — | 168,021 | — | — | — | 168,021 | |||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (168,021 | ) | — | — | — | (168,021 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net decrease in cash | — | (31,842 | ) | — | (733 | ) | (3,944 | ) | (36,519 | ) | Principal payments under capital lease obligation | — | — | (916 | ) | — | — | (916 | ) | |||||||||||||||||||||||||||||||
Cash at beginning of period | — | 45,302 | — | 4,648 | (413 | ) | 49,537 | Amounts due from stockholder | (2,451 | ) | — | — | — | — | (2,451 | ) | ||||||||||||||||||||||||||||||||||
Cash at end of period | $ | — | $ | 13,460 | $ | — | $ | 3,915 | $ | (4,357 | ) | $ | 13,018 | Net cash used in financing activities | (2,451 | ) | (4,975 | ) | (916 | ) | — | — | (8,342 | ) | ||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (149 | ) | — | (149 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase in cash | — | 31,460 | — | 2,475 | 79 | 34,014 | ||||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of year | — | 13,842 | — | 2,173 | (492 | ) | 15,523 | |||||||||||||||||||||||||||||||||||||||||||
Cash at end of year | $ | — | $ | 45,302 | $ | — | $ | 4,648 | $ | (413 | ) | $ | 49,537 | |||||||||||||||||||||||||||||||||||||
Global Brass and Copper Holdings, Inc. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Parent | Issuer | Guarantor | Non-Guarantor | Eliminations | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by operating activities | $ | 42,500 | $ | 60,079 | $ | 9,237 | $ | 590 | $ | (42,992 | ) | $ | 69,414 | |||||||||||||||||||||||||||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | (11,664 | ) | (263 | ) | — | (11,927 | ) | |||||||||||||||||||||||||||||||||||||||||
Other | — | — | 39 | — | — | 39 | ||||||||||||||||||||||||||||||||||||||||||||
Net cash provided by (used in) investing activities | — | — | (11,625 | ) | (263 | ) | — | (11,888 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred financing fees | — | (15,131 | ) | — | — | — | (15,131 | ) | ||||||||||||||||||||||||||||||||||||||||||
Proceeds from term loan | — | 305,550 | — | — | — | 305,550 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on term loan | — | (825 | ) | — | — | — | (825 | ) | ||||||||||||||||||||||||||||||||||||||||||
Borrowings on ABL Facility | — | 1,096,578 | — | — | — | 1,096,578 | ||||||||||||||||||||||||||||||||||||||||||||
Payments on ABL Facility | — | (1,272,197 | ) | — | — | — | (1,272,197 | ) | ||||||||||||||||||||||||||||||||||||||||||
Principal payments under capital lease obligation | — | — | (52 | ) | — | — | (52 | ) | ||||||||||||||||||||||||||||||||||||||||||
Payments on related party debt | — | (119,805 | ) | — | — | — | (119,805 | ) | ||||||||||||||||||||||||||||||||||||||||||
Distribution to stockholder | (42,500 | ) | (42,500 | ) | — | — | 42,500 | (42,500 | ) | |||||||||||||||||||||||||||||||||||||||||
Cash overdrafts | — | (1,228 | ) | — | — | — | (1,228 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net cash used in financing activities | (42,500 | ) | (49,558 | ) | (52 | ) | — | 42,500 | (49,610 | ) | ||||||||||||||||||||||||||||||||||||||||
Effect of foreign currency exchange rate changes | — | — | — | (225 | ) | — | (225 | ) | ||||||||||||||||||||||||||||||||||||||||||
Net increase (decrease) in cash | — | 10,521 | (2,440 | ) | 102 | (492 | ) | 7,691 | ||||||||||||||||||||||||||||||||||||||||||
Cash at beginning of year | — | 3,321 | 2,440 | 2,071 | — | 7,832 | ||||||||||||||||||||||||||||||||||||||||||||
Cash at end of year | $ | — | $ | 13,842 | $ | — | $ | 2,173 | $ | (492 | ) | $ | 15,523 | |||||||||||||||||||||||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Reconciliation of Activity in Allowance for Doubtful Accounts | ' | ||||||||||||
The reconciliation of the activity in the allowance for doubtful accounts is summarized below: | |||||||||||||
Year Ended December 31, | |||||||||||||
2012 | 2011 | 2010 | |||||||||||
Balance at beginning of period | $ | 2,067 | $ | 7,921 | $ | 7,505 | |||||||
Provision for bad debts, net of reductions | (814 | ) | (4,171 | ) | 1,324 | ||||||||
Write-offs, net of recoveries | — | (1,683 | ) | (908 | ) | ||||||||
Recoveries, net of write-offs | 155 | — | — | ||||||||||
Balance at end of period | $ | 1,408 | $ | 2,067 | $ | 7,921 | |||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2012 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Property, Plant and Equipment Balances | ' | ||||||||||
The Company’s property, plant and equipment balances are as follows: | |||||||||||
As of December 31, | Useful Life | ||||||||||
2012 | 2011 | (in years) | |||||||||
Land and land improvements | $ | 1,726 | $ | 1,598 | |||||||
Buildings | 9,077 | 8,489 | 20 | ||||||||
Machinery and equipment | 55,175 | 42,715 | 12 | ||||||||
Information technology | 4,477 | 2,462 | 5 | ||||||||
Motor vehicles | 2,521 | 1,403 | 5 | ||||||||
Leasehold improvements | 1,083 | 127 | |||||||||
Construction-in-process | 13,324 | 10,279 | |||||||||
Gross property, plant and equipment | 87,383 | 67,073 | |||||||||
Accumulated depreciation | (16,256 | ) | (9,517 | ) | |||||||
Property, plant and equipment, net | $ | 71,127 | $ | 57,556 | |||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2012 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Intangible Assets Other Than Goodwill | ' | ||||||||||||
Intangible assets other than goodwill consisted of the following: | |||||||||||||
As of | Amortization | ||||||||||||
December 31, | Period (in years) | ||||||||||||
2012 | 2011 | ||||||||||||
Gross carrying amount: | |||||||||||||
Customer relationships | $ | 1,350 | $ | 1,350 | 13 | ||||||||
Non-compete agreement | 380 | 380 | 4 | ||||||||||
Total gross intangible assets | 1,730 | 1,730 | |||||||||||
Accumulated amortization: | |||||||||||||
Customer relationships | (511 | ) | (407 | ) | |||||||||
Non-compete agreement | (380 | ) | (372 | ) | |||||||||
Total accumulated amortization | (891 | ) | (779 | ) | |||||||||
Intangible assets, net | $ | 839 | $ | 951 | |||||||||
Amortization Expense Expected to be Incurred in Subsequent Years | ' | ||||||||||||
Amortization expense is expected to be incurred in subsequent years as follows: | |||||||||||||
Year | Amortization | ||||||||||||
2013 | $ | 104 | |||||||||||
2014 | 104 | ||||||||||||
2015 | 104 | ||||||||||||
2016 | 104 | ||||||||||||
2017 | 104 | ||||||||||||
Thereafter | 319 | ||||||||||||
$ | 839 | ||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2012 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Future Minimum Lease Payments under Non-cancelable Leases | ' | ||||
Future minimum lease payments under non-cancelable leases in effect are as follows: | |||||
Year | Payment | ||||
2013 | $ | 2,654 | |||
2014 | 1,621 | ||||
2015 | 956 | ||||
2016 | 612 | ||||
2017 | 122 | ||||
Thereafter | — | ||||
Total minimum lease payments | $ | 5,965 | |||
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2012 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Information | ' | ||||||||||||||||
21 | Quarterly Financial Information (Unaudited) | ||||||||||||||||
2012 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter (A) | Quarter (A) | Quarter (A) | Quarter | ||||||||||||||
Net sales | $ | 443,391 | $ | 416,979 | $ | 393,977 | $ | 396,173 | |||||||||
Gross profit | 49,954 | 47,121 | 44,397 | 41,714 | (C) | ||||||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | 21,971 | (21,063 | ) (B) | 17,645 | 12,532 | ||||||||||||
Net income (loss) | 14,047 | (19,891 | ) | 11,137 | 7,602 | ||||||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | 13,993 | (20,005 | ) | 11,032 | 7,501 | ||||||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||||||
Basic | 0.66 | (0.95 | ) | 0.52 | 0.36 | ||||||||||||
2011 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter (A) | Quarter (A) | Quarter (A) | Quarter (A) | ||||||||||||||
Net sales | $ | 492,915 | $ | 473,251 | $ | 439,500 | $ | 373,477 | |||||||||
Gross profit | 50,026 | 44,231 | 38,077 | 63,336 | (D) | ||||||||||||
Income before provision for income taxes and equity income | 21,712 | 17,498 | 10,779 | 35,848 | |||||||||||||
Net income | 14,170 | 10,268 | 7,280 | 23,570 | |||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 14,058 | 10,201 | 7,283 | 23,590 | |||||||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | |||||||||||||||||
Basic | 0.67 | 0.48 | 0.35 | 1.12 | |||||||||||||
(A) | The above data have been adjusted for prior period revisions discussed in note 2, “Summary of Significant Accounting Policies” and as illustrated in note 22, “Revision of Prior Period Financial Statements (Unaudited)”. | ||||||||||||||||
(B) | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. | ||||||||||||||||
(C) | Includes $4,775 gain from liquidation of LIFO inventory layers. | ||||||||||||||||
(D) | Includes $15,236 gain from liquidation of LIFO inventory layers. |
Basis_of_Presentation_and_Prin1
Basis of Presentation and Principles of Consolidation - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 01, 2013 | Oct. 01, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Segment | Segment | Halkos [Member] | IPO [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Duplicate accruals for receipt of raw material [Member] | Duplicate accruals for receipt of raw material [Member] | Duplicate accruals for receipt of raw material [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
Secondary Public Offering [Member] | Secondary Public Offering [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | |||||||||
Halkos [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | ||||||||||
Consolidation And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares issued | ' | ' | ' | 8,050,000 | 5,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock share outstanding | ' | ' | 61.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of common stock share outstanding | ' | ' | ' | ' | ' | 34.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership, equity method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 20.00% | 50.00% | 50.00% |
Overstated/(understated) amount | ' | ' | ' | ' | ' | ' | $811 | $423 | ($148) | ($297) | ($1,396) | ($389) | $389 | ' | ' | ' | ' |
Summary_of_Revisions_to_Consol
Summary of Revisions to Consolidated Statement of Operation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Cost of sales | ' | $349,580 | $369,858 | $393,437 | $310,141 | $401,423 | $429,020 | $442,889 | $763,295 | $871,909 | $1,201,815 | $1,112,875 | $1,273,332 | $1,467,334 | $1,583,473 | $1,496,695 | ||||||||
Gross profit | 41,714 | [1] | 44,397 | [2] | 47,121 | [2] | 49,954 | [2] | 63,336 | [2],[3] | 38,077 | [2] | 44,231 | [2] | 50,026 | [2] | 97,075 | 94,257 | 143,863 | 141,472 | 132,334 | 183,186 | 195,670 | 162,034 |
Operating income | ' | 27,044 | 9,156 | 32,031 | 46,386 | 20,979 | 27,748 | 31,166 | 41,187 | 58,914 | 51,241 | 68,231 | 79,893 | 90,545 | 126,279 | 93,177 | ||||||||
Third party interest expense | ' | ' | ' | ' | 9,618 | 9,954 | 10,988 | 9,450 | ' | 20,438 | 29,938 | 29,894 | 30,392 | 39,727 | 40,010 | 25,076 | ||||||||
Income (loss) before provision for income taxes and equity income | 12,532 | 17,645 | [2] | -21,063 | [2],[4] | 21,971 | [2] | 35,848 | [2] | 10,779 | [2] | 17,498 | [2] | 21,712 | [2] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |
Provision (benefit) for income taxes | ' | 6,769 | -971 | 8,198 | 12,613 | 3,726 | 7,258 | 7,840 | 7,227 | 15,098 | 17,762 | 13,996 | 18,824 | 19,185 | 31,437 | 26,676 | ||||||||
Income (loss) before equity income | ' | 10,876 | -20,092 | 13,773 | 23,235 | 7,053 | 10,240 | 13,872 | -6,319 | 24,112 | 3,285 | 4,557 | 31,165 | 11,900 | 54,400 | 40,615 | ||||||||
Net income (loss) | 7,602 | 11,137 | [2] | -19,891 | [2] | 14,047 | [2] | 23,570 | [2] | 7,280 | [2] | 10,268 | [2] | 14,170 | [2] | -5,844 | 24,438 | 4,433 | 5,293 | 31,718 | 12,895 | 55,288 | 42,145 | |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | 7,501 | 11,032 | [2] | -20,005 | [2] | 13,993 | [2] | 23,590 | [2] | 7,283 | [2] | 10,201 | [2] | 14,058 | [2] | -6,012 | 24,259 | 4,205 | 5,020 | 31,542 | 12,521 | 55,132 | 41,633 | |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | $0.36 | $0.52 | [2] | ($0.95) | [2] | $0.66 | [2] | $1.12 | [2] | $0.35 | [2] | $0.48 | [2] | $0.67 | [2] | ($0.28) | $1.15 | $0.20 | $0.24 | $1.49 | $0.59 | $2.61 | $1.97 | |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | 348,995 | 371,213 | 392,701 | 309,254 | 401,931 | 429,357 | 442,383 | 763,914 | 871,740 | ' | 1,112,909 | 1,273,671 | ' | 1,582,925 | 1,497,944 | ||||||||
Gross profit | ' | 44,982 | 45,766 | 50,690 | 64,223 | 37,569 | 43,894 | 50,532 | 96,456 | 94,426 | ' | 141,438 | 131,995 | ' | 196,218 | 160,785 | ||||||||
Operating income | ' | 27,629 | 7,801 | 32,767 | 47,273 | 20,471 | 27,411 | 31,672 | 40,568 | 59,083 | ' | 68,197 | 79,554 | ' | 126,827 | 91,928 | ||||||||
Third party interest expense | ' | ' | ' | ' | 9,140 | 10,159 | 11,149 | 9,562 | ' | 20,711 | ' | ' | 30,870 | ' | ' | ' | ||||||||
Income (loss) before provision for income taxes and equity income | ' | 18,230 | -22,418 | 22,707 | 37,213 | 10,066 | 17,000 | 22,106 | 289 | 39,106 | ' | 18,519 | 49,172 | ' | 86,385 | 66,042 | ||||||||
Provision (benefit) for income taxes | ' | 6,670 | -1,247 | 8,468 | 13,087 | 3,428 | 6,783 | 7,956 | 7,221 | 14,739 | ' | 13,891 | 18,167 | ' | 31,254 | 26,176 | ||||||||
Income (loss) before equity income | ' | 11,560 | -21,171 | 14,239 | 24,126 | 6,638 | 10,217 | 14,150 | -6,932 | 24,367 | ' | 4,628 | 31,005 | ' | 55,131 | 39,866 | ||||||||
Net income (loss) | ' | 11,821 | -20,970 | 14,513 | 24,461 | 6,865 | 10,245 | 14,448 | -6,457 | 24,693 | ' | 5,364 | 31,558 | ' | 56,019 | 41,396 | ||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | 11,716 | -21,084 | 14,459 | 24,481 | 6,868 | 10,178 | 14,336 | -6,625 | 24,514 | ' | 5,091 | 31,382 | ' | 55,863 | 40,884 | ||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | ' | $0.55 | ($1) | $0.68 | $1.16 | $0.33 | $0.48 | $0.68 | ($0.31) | $1.16 | ' | $0.24 | $1.49 | ' | $2.65 | $1.94 | ||||||||
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | 585 | -1,355 | 736 | 887 | -508 | -337 | 506 | -619 | 169 | ' | -34 | -339 | ' | 548 | -1,249 | ||||||||
Gross profit | ' | -585 | 1,355 | -736 | -887 | 508 | 337 | -506 | 619 | -169 | ' | 34 | 339 | ' | -548 | 1,249 | ||||||||
Operating income | ' | -585 | 1,355 | -736 | -887 | 508 | 337 | -506 | 619 | -169 | ' | 34 | 339 | ' | -548 | 1,249 | ||||||||
Third party interest expense | ' | ' | ' | ' | 478 | -205 | -161 | -112 | ' | -273 | ' | ' | -478 | ' | ' | ' | ||||||||
Income (loss) before provision for income taxes and equity income | ' | -585 | 1,355 | -736 | -1,365 | 713 | 498 | -394 | 619 | 104 | ' | 34 | 817 | ' | -548 | 1,249 | ||||||||
Provision (benefit) for income taxes | ' | 99 | 276 | -270 | -474 | 298 | 475 | -116 | 6 | 359 | ' | 105 | 657 | ' | 183 | 500 | ||||||||
Income (loss) before equity income | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | ||||||||
Net income (loss) | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | ||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ($684) | $1,079 | ($466) | ($891) | $415 | $23 | ($278) | $613 | ($255) | ' | ($71) | $160 | ' | ($731) | $749 | ||||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | ' | ($0.03) | $0.05 | ($0.02) | ($0.04) | $0.02 | ' | ($0.01) | $0.03 | ($0.01) | ' | ' | ' | ' | ($0.04) | $0.03 | ||||||||
[1] | Includes $4,775 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[2] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||
[3] | Includes $15,236 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Summary_of_Revisions_to_Consol1
Summary of Revisions to Consolidated Statement of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Net income | $7,602 | $11,137 | [1] | ($19,891) | [1] | $14,047 | [1] | $23,570 | [1] | $7,280 | [1] | $10,268 | [1] | $14,170 | [1] | ($5,844) | $24,438 | $4,433 | $5,293 | $31,718 | $12,895 | $55,288 | $42,145 |
Comprehensive income (loss) | ' | 11,130 | -20,034 | 14,067 | 23,419 | 7,370 | 10,475 | 14,493 | -5,967 | 24,968 | 3,815 | 5,163 | 32,338 | 12,446 | 55,757 | 42,658 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | 11,047 | -20,153 | 13,996 | 23,424 | 7,328 | 10,377 | 14,365 | -6,157 | 24,742 | 3,500 | 4,890 | 32,070 | 12,064 | 55,494 | 42,075 | |||||||
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income | ' | 11,821 | -20,970 | 14,513 | 24,461 | 6,865 | 10,245 | 14,448 | -6,457 | 24,693 | ' | 5,364 | 31,558 | ' | 56,019 | 41,396 | |||||||
Comprehensive income (loss) | ' | 11,814 | -21,113 | 14,533 | 24,310 | 6,955 | 10,452 | 14,771 | -6,580 | 25,223 | ' | 5,234 | 32,178 | ' | 56,488 | 41,909 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | 11,731 | -21,232 | 14,462 | 24,315 | 6,913 | 10,354 | 14,643 | -6,770 | 24,997 | ' | 4,961 | 31,910 | ' | 56,225 | 41,326 | |||||||
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | |||||||
Comprehensive income (loss) | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ($684) | $1,079 | ($466) | ($891) | $415 | $23 | ($278) | $613 | ($255) | ' | ($71) | $160 | ' | ($731) | $749 | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Summary_of_Revisions_to_Consol2
Summary of Revisions to Consolidated Statement of Changes in Equity (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | |||||||
Net income (loss) | $7,602 | $11,137 | [1] | ($19,891) | [1] | $14,047 | [1] | $23,570 | [1] | $7,280 | [1] | $10,268 | [1] | $14,170 | [1] | ($5,844) | $24,438 | $4,433 | $5,293 | $31,718 | $12,895 | $55,288 | $42,145 | ' |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | 7,501 | 11,032 | [1] | -20,005 | [1] | 13,993 | [1] | 23,590 | [1] | 7,283 | [1] | 10,201 | [1] | 14,058 | [1] | -6,012 | 24,259 | 4,205 | 5,020 | 31,542 | 12,521 | 55,132 | 41,633 | ' |
Retained earnings (accumulated deficit) | -48,153 | -55,654 | -66,686 | 82,711 | 68,718 | 45,128 | 37,845 | 27,644 | -66,686 | 37,845 | -43,948 | -55,654 | 45,128 | -48,153 | 68,718 | 13,586 | ' | |||||||
Total Global Brass and Copper Holdings, Inc. stockholders' equity (deficit) | -51,351 | -58,499 | -69,309 | 93,247 | 79,492 | 56,382 | 49,347 | 39,907 | -69,309 | 49,347 | -12,716 | -58,499 | 56,382 | -51,351 | 79,492 | 25,564 | ' | |||||||
Total equity (deficit) | -47,801 | -55,058 | -65,951 | 96,486 | 82,660 | 59,555 | 52,478 | 42,940 | -65,951 | 52,478 | -8,851 | -55,058 | 59,555 | -47,801 | 82,660 | 28,469 | 24,859 | |||||||
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income (loss) | ' | 11,821 | -20,970 | 14,513 | 24,461 | 6,865 | 10,245 | 14,448 | -6,457 | 24,693 | ' | 5,364 | 31,558 | ' | 56,019 | 41,396 | ' | |||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | 11,716 | -21,084 | 14,459 | 24,481 | 6,868 | 10,178 | 14,336 | -6,625 | 24,514 | ' | 5,091 | 31,382 | ' | 55,863 | 40,884 | ' | |||||||
Retained earnings (accumulated deficit) | ' | -56,083 | -67,799 | 82,677 | 68,218 | 43,737 | 36,869 | 26,691 | -67,799 | 36,869 | ' | -56,083 | 43,737 | ' | 68,218 | 12,355 | ' | |||||||
Total Global Brass and Copper Holdings, Inc. stockholders' equity (deficit) | ' | -58,928 | -70,422 | 93,213 | 78,992 | 54,991 | 48,371 | 38,954 | -70,422 | 48,371 | ' | -58,928 | 54,991 | ' | 78,992 | 24,333 | ' | |||||||
Total equity (deficit) | ' | -55,487 | -67,064 | 96,452 | 82,160 | 58,164 | 51,502 | 41,987 | -67,064 | 51,502 | ' | -55,487 | 58,164 | ' | 82,160 | 27,238 | ' | |||||||
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income (loss) | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | ' | |||||||
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | -684 | 1,079 | -466 | -891 | 415 | 23 | -278 | 613 | -255 | ' | -71 | 160 | ' | -731 | 749 | ' | |||||||
Retained earnings (accumulated deficit) | ' | 429 | 1,113 | 34 | 500 | 1,391 | 976 | 953 | 1,113 | 976 | ' | 429 | 1,391 | ' | 500 | 1,231 | ' | |||||||
Total Global Brass and Copper Holdings, Inc. stockholders' equity (deficit) | ' | 429 | 1,113 | 34 | 500 | 1,391 | 976 | 953 | 1,113 | 976 | ' | 429 | 1,391 | ' | 500 | 1,231 | ' | |||||||
Total equity (deficit) | ' | $429 | $1,113 | $34 | $500 | $1,391 | $976 | $953 | $1,113 | $976 | ' | $429 | $1,391 | ' | $500 | $1,231 | ' | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Inventories_Summary_of_Invento
Inventories - Summary of Inventories (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | |||||||||
Inventory Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Raw materials and supplies | $34,646 | $37,766 | ' | ' | $21,320 | ' | ' | ' | ' |
Work-in-process | 99,119 | 69,286 | ' | ' | 93,555 | ' | ' | ' | ' |
Finished goods | 75,013 | 67,326 | ' | ' | 71,072 | ' | ' | ' | ' |
Total inventories | $208,778 | $174,378 | $180,004 | $172,677 | $185,947 | $163,492 | $168,735 | $202,515 | $192,623 |
Inventories_Additional_Informa
Inventories - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Percentage of material component in inventory | 70.00% | 72.00% | 73.00% | ' | 70.00% | 72.00% | ' |
Lower of cost or market adjustment | ' | ' | $318 | $302 | $302 | ' | ' |
Inventories valued at period-end market value | 319,282 | 347,840 | 331,213 | ' | 319,282 | 347,840 | ' |
Effect of liquidation of LIFO inventory layers | 4,775 | 15,236 | ' | ' | 4,775 | 15,236 | 21,009 |
Cost of sales [Member] | ' | ' | ' | ' | ' | ' | ' |
Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Effect of liquidation of LIFO inventory layers | ' | ' | ' | ' | -4,775 | -15,236 | -21,009 |
Net Income Loss [Member] | ' | ' | ' | ' | ' | ' | ' |
Inventory [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Effect of liquidation of LIFO inventory layers | ' | ' | ' | ' | $2,908 | $9,291 | $12,862 |
Prepaid_Expenses_and_Other_Cur2
Prepaid Expenses and Other Current Assets - Components of Prepaid Expenses and Other Current Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | |||||||
Prepaid Expenses And Other Current Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Collateral on deposit-commodity derivative contracts | $1,861 | $767 | $4,622 | ' | ' | ' | ' |
Commodity derivative contracts | 5 | 548 | ' | ' | ' | ' | ' |
Deferred expense | 13,018 | ' | ' | ' | ' | ' | ' |
Deferred financing fees, net | ' | ' | 3,646 | ' | ' | ' | ' |
Loss fund payments-workers' compensation | 6,466 | 6,968 | 7,538 | ' | ' | ' | ' |
Prepaid insurance | 1,705 | 1,261 | 1,974 | ' | ' | ' | ' |
Prepaid tooling | 1,926 | 764 | ' | ' | ' | ' | ' |
Other | 1,610 | 1,833 | ' | ' | ' | ' | ' |
Total prepaid expenses and other current assets | 26,591 | 12,141 | 19,912 | 25,746 | 22,201 | 31,101 | 38,441 |
Including Prepaid Tooling [Member] | ' | ' | ' | ' | ' | ' | ' |
Prepaid Expenses And Other Current Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Other | ' | $2,597 | $2,132 | ' | ' | ' | ' |
Goodwill_Additional_Informatio
Goodwill - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Carrying value of goodwill | $4,399 | $4,399 | $4,399 |
Goodwill deductible for tax purpose | 1,973 | 2,131 | ' |
Chase [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Carrying value of goodwill | $4,399 | $4,399 | ' |
Investment_in_Joint_Venture_Ad
Investment in Joint Venture - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 19, 2007 |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Cash dividends received, recorded as reduction in Company's investment in joint venture | $452 | $500 | $1,000 | $500 | $566 | ' |
Equity income, net of tax | 1,148 | 736 | 995 | 888 | 1,530 | ' |
Dowa - Olin Metal Corporation [Member] | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Interest in joint venture | 50.00% | ' | 50.00% | ' | ' | ' |
Carrying value as a result of bargain purchase event | ' | ' | ' | ' | ' | 0 |
Negative basis difference | 5,192 | ' | 5,735 | 6,459 | ' | 9,416 |
Negative basis difference accreted on a straight-line basis Period | '13 years | ' | '13 years | ' | ' | ' |
Accretion of negative basis difference | 543 | 543 | 724 | 724 | 724 | ' |
Undistributed earnings of joint venture in retained earnings | $758 | ' | $62 | $67 | ' | ' |
Other_Noncurrent_Assets_Schedu
Other Noncurrent Assets - Schedule of Other Noncurrent Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract] | ' | ' | ' |
Deferred financing fees, net | $15,225 | $17,082 | $9,779 |
Utility and other deposits | 1,395 | 668 | 1,060 |
Interest rate cap agreements | ' | 1 | 157 |
Other | ' | 4 | 177 |
Total other noncurrent assets | $16,620 | $17,755 | $11,173 |
Accrued_Liabilities_Components
Accrued Liabilities - Components of Accrued Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||
Accrued Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Personnel expense | $20,685 | $20,872 | ' | ' | ' | $20,548 | ' | ' | ' | ' |
Workers' compensation | 14,383 | 15,754 | ' | ' | ' | 15,653 | ' | ' | ' | ' |
Deferred revenue | 13,018 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Professional fees | 1,826 | 2,145 | ' | ' | ' | 2,623 | ' | ' | ' | ' |
Insurance | 2,358 | 2,253 | ' | ' | ' | 1,689 | ' | ' | ' | ' |
Utilities | 1,877 | 1,844 | ' | ' | ' | 1,531 | ' | ' | ' | ' |
Taxes | 1,371 | 1,745 | ' | ' | ' | 1,471 | ' | ' | ' | ' |
Tooling | 737 | 686 | ' | ' | ' | ' | ' | ' | ' | ' |
Commodity derivative contracts | 357 | ' | ' | ' | ' | 1,825 | ' | ' | ' | ' |
Other | 3,027 | 3,125 | ' | ' | ' | ' | ' | ' | ' | ' |
Total accrued liabilities | 59,639 | 48,424 | 59,604 | 40,574 | 48,364 | 48,604 | 59,291 | 63,314 | 72,592 | 84,992 |
Including Accrued Tooling [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued Liabilities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | $3,811 | ' | ' | ' | $3,264 | ' | ' | ' | ' |
Financing_Components_of_LongTe
Financing - Components of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 01, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ABL Facility [Member] | ABL Facility [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Term Loan Facility [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | $22,500 | $14,522 | $375,000 | $375,000 | $375,000 | $310,875 |
Discount, net of amortization | ' | -1,234 | -7,297 | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | 389,522 | 303,578 | ' | ' | ' | ' | ' | ' |
Less: Current maturities of long-term debt | ' | ' | 31,880 | ' | ' | ' | ' | ' | ' |
Total long-term debt | $397,500 | $389,522 | $271,698 | ' | ' | ' | ' | ' | ' |
Financing_Additional_Informati
Financing - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||
Jun. 01, 2012 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Jun. 01, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | ABL Facility [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | |||||||
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | In the event of increased commodity prices [Member] | Minimum [Member] | Maximum [Member] | Upon the occurrence of certain change of control events [Member] | Upon the completion of certain asset dispositions [Member] | |||||||||||||||
Prime Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Prime Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $375,000,000 | $375,000,000 | $375,000,000 | ' | ' | ' | ' | ' | $310,875,000 |
Debt instrument stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Secured Notes maturity period | ' | ' | ' | ' | ' | ' | 1-Jun-17 | ' | ' | ' | ' | ' | ' | ' | 1-Jun-19 | ' | 1-Jun-19 | ' | ' | ' | ' | ' | ' |
Dividend and cash distributed to meet expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' |
Percentage of dividend to net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' |
Restricted net assets of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,957,000 | 16,432,000 | ' | ' | ' | ' | ' | ' |
Unused portion of ABL credit facility | ' | ' | ' | ' | ' | ' | 184,978,000 | 177,000,000 | 149,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate at end of period | ' | ' | ' | ' | ' | ' | 4.50% | 3.33% | 5.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to stockholder | 160,000,000 | ' | ' | 160,000,000 | 160,000,000 | 42,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument payment description | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Interest on the Senior Secured Notes accrues at the rate of 9.50% per annum and is payable semiannually in arrears on June 1 and December 1, commencing on December 1, 2012. | ' | ' | ' | ' | ' | ' |
Debt instrument, principal outstanding redemption price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | 100.00% | ' | ' |
Additional interest on the Notes in default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.50% | ' | ' | ' | ' |
Line of credit facility, current borrowing capacity | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Eligible Accounts | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Eligible Inventory | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Recovery Percentage for the Eligible Inventory | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused credit facility fee rate | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans, basis spread | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% | 1.50% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of applicable interest rate spread increased on account of default | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from extinguishment of debt | ' | -19,612,000 | ' | -19,612,000 | -19,612,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,612,000 | ' |
Loss on extinguishment of debt, write-off of unamortized debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,126,000 | ' |
Write-off of unamortized debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,932,000 | ' |
Payment of call premium | ' | ' | ' | ' | 6,394,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,394,000 | ' |
Professional services fees on loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,000 | ' |
Debt issuance costs expensed as incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,139,000 | ' |
Income_Taxes_Summary_of_Effect
Income Taxes - Summary of Effective Income Tax Rate (Detail) | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Statutory provision rate | 35.00% | 35.00% | 35.00% | 35.00% | 35.00% |
Permanent differences and other items | ' | ' | ' | ' | ' |
State tax provision | 7.90% | 3.60% | 6.70% | 3.90% | 6.00% |
Section 199 manufacturing credit | -6.90% | -2.80% | -3.20% | -2.30% | -1.50% |
Incremental tax effects of foreign earnings | ' | ' | 1.80% | 0.20% | 0.30% |
Return to provision adjustments | -1.40% | -3.10% | 1.20% | -0.70% | -2.20% |
Re-rate of deferred taxes | ' | ' | -0.80% | -0.30% | -0.20% |
Non-deductible non-cash compensation | 48.70% | 41.20% | 22.00% | 0.40% | 1.80% |
Other | 1.10% | 1.50% | -1.00% | 0.40% | 0.40% |
Effective income tax rate | 84.40% | 75.40% | 61.70% | 36.60% | 39.60% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Unrecognized tax benefits | $25,841 | ' | $27,401 | $31,340 | $35,483 |
Unrecognized tax benefits that would impact effective tax rate | 0 | ' | 0 | 0 | ' |
Estimated interest and penalties expense related to the underpayment of income taxes | 29 | -138 | ' | ' | ' |
Accrued interest and penalties related to the underpayment of income taxes | 64 | ' | 35 | 301 | ' |
Liability for uncertain tax positions | 25,905 | ' | 27,436 | 31,641 | ' |
Inventory deferred tax asset | ' | ' | 48,932 | 50,936 | ' |
Deferred tax liabilities establish on U.S.Federal and State Income Taxes | ' | ' | 7,310 | 6,507 | ' |
Foreign tax credit carryforward expiry year | ' | ' | 1-Jan-22 | ' | ' |
Foreign Tax Authority [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Foreign Tax Carryforward | ' | ' | 514 | ' | ' |
LIFO [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Inventory deferred tax asset | ' | ' | $25,521 | ' | ' |
Derivative_Contracts_Additiona
Derivative Contracts - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Senior secured term loan | 50.00% | 50.00% | ' | ' |
Derivative collateral included in prepaid expenses and other current assets | $1,504 | $767 | ' | $2,885 |
Interest rate cap agreement term | ' | ' | '3 years | ' |
Interest rate cap agreements [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Notional Amount of Interest Rate Cap Agreements | ' | ' | 300,000 | ' |
Derivative_Contracts_Effects_o
Derivative Contracts - Effects of Derivative Contracts in Condensed Consolidated Financial Statements (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Gross Amounts of Recognized Assets | $778 | ' | $775 | $494 | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -773 | ' | -226 | -337 | ' |
Net Amounts of Assets Presented in Consolidated Balance Sheet | 5 | ' | 549 | 157 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Received | ' | ' | ' | ' | ' |
Net Amount | 5 | ' | 549 | 157 | ' |
Derivative Asset | 5 | ' | 549 | ' | ' |
Gross Amounts of Recognized Liabilities | 1,130 | ' | 226 | 2,162 | ' |
Derivative liabilities | 357 | ' | ' | ' | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -773 | ' | -226 | -337 | ' |
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | 357 | ' | ' | 1,825 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Deposited | 357 | ' | ' | -1,737 | ' |
Net Amount | ' | ' | ' | 88 | ' |
Cost of sales [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Realized and unrealized (loss) gain | -348 | 949 | 1,658 | 4,458 | 9,430 |
Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Derivative Asset | 5 | ' | 548 | ' | ' |
Accrued Liabilities [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Derivative liabilities | 357 | ' | ' | 1,825 | ' |
Other Noncurrent Assets [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Derivative Asset | ' | ' | 1 | 157 | ' |
Open metal contracts [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Gross Amounts of Recognized Assets | 722 | ' | 603 | 294 | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -722 | ' | -224 | -294 | ' |
Net Amounts of Assets Presented in Consolidated Balance Sheet | ' | ' | 379 | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Received | ' | ' | ' | ' | ' |
Net Amount | ' | ' | 379 | ' | ' |
Gross Amounts of Recognized Liabilities | 1,074 | ' | 224 | 1,647 | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -722 | ' | -224 | -294 | ' |
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | 352 | ' | ' | 1,353 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Deposited | 352 | ' | ' | -1,353 | ' |
Net Amount | ' | ' | ' | ' | ' |
Open metal contracts [Member] | Cost of sales [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Realized and unrealized (loss) gain | -143 | 614 | 1,339 | 3,884 | 7,605 |
Open electricity contracts [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Gross Amounts of Recognized Assets | 56 | ' | 169 | 43 | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -51 | ' | -2 | -43 | ' |
Net Amounts of Assets Presented in Consolidated Balance Sheet | 5 | ' | 167 | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Received | ' | ' | ' | ' | ' |
Net Amount | 5 | ' | 167 | ' | ' |
Gross Amounts of Recognized Liabilities | 51 | ' | 2 | 131 | ' |
Gross Amounts Offset in Consolidated Balance Sheet | -51 | ' | -2 | -43 | ' |
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | ' | ' | ' | 88 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Deposited | ' | ' | ' | ' | ' |
Net Amount | ' | ' | ' | 88 | ' |
Open natural gas contracts [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Gross Amounts of Recognized Assets | ' | ' | 2 | ' | ' |
Net Amounts of Assets Presented in Consolidated Balance Sheet | ' | ' | 2 | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Received | ' | ' | ' | ' | ' |
Net Amount | ' | ' | 2 | ' | ' |
Gross Amounts of Recognized Liabilities | 5 | ' | ' | 384 | ' |
Net Amounts of Liabilities Presented in Consolidated Balance Sheet | 5 | ' | ' | 384 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Deposited | 5 | ' | ' | -384 | ' |
Net Amount | ' | ' | ' | ' | ' |
Interest rate cap agreements [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Gross Amounts of Recognized Assets | ' | ' | 1 | 157 | ' |
Net Amounts of Assets Presented in Consolidated Balance Sheet | ' | ' | 1 | 157 | ' |
Amount Not Offset in the Consolidated Balance Sheet, Financial Instruments | ' | ' | ' | ' | ' |
Amount Not Offset in the Consolidated Balance Sheet, Cash Collateral Received | ' | ' | ' | ' | ' |
Net Amount | ' | ' | 1 | 157 | ' |
Interest rate cap agreements [Member] | Interest Expense [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Unrealized loss | -1 | -156 | 156 | 1,851 | -800 |
Natural gas contracts [Member] | Cost of sales [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Realized and unrealized (loss) gain | -12 | 113 | 76 | 517 | 1,825 |
Electricity contracts [Member] | Cost of sales [Member] | ' | ' | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' | ' | ' |
Realized and unrealized (loss) gain | ($193) | $222 | $243 | $57 | ' |
Derivative_Contracts_Effects_o1
Derivative Contracts - Effects of Derivative Contracts in Condensed Consolidated Financial Statements (Parenthetical) (Detail) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Contract | Contract | Contract | |
Open metal contracts [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Number of contracts - assets | 361 | 208 | 88 |
Number of contacts - liabilities | 406 | 85 | 151 |
Open electricity contracts [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Number of contracts - assets | 10 | 17 | 6 |
Number of contacts - liabilities | 14 | 1 | 8 |
Open natural gas contracts [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Number of contracts - assets | ' | 6 | ' |
Number of contacts - liabilities | 4 | ' | 31 |
Interest rate cap agreements [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Number of contracts - assets | ' | 2 | 2 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Inputs Used to Derive Fair Value of Company's Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | $5 | $549 | $157 |
Total liabilities, fair value | 357 | ' | 1,825 |
Open electricity contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | 5 | 167 | ' |
Total liabilities, fair value | ' | ' | 88 |
Open metal contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 379 | ' |
Total liabilities, fair value | 352 | ' | 1,353 |
Open natural gas contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 2 | ' |
Total liabilities, fair value | 5 | ' | 384 |
Interest rate cap agreements [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 1 | 157 |
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 1 [Member] | Open electricity contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Level 1 [Member] | Open metal contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 1 [Member] | Open natural gas contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 1 [Member] | Interest rate cap agreements [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | 5 | 549 | 157 |
Total liabilities, fair value | 357 | ' | 1,825 |
Level 2 [Member] | Open electricity contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | 5 | 167 | ' |
Total liabilities, fair value | ' | ' | 88 |
Level 2 [Member] | Open metal contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 379 | ' |
Total liabilities, fair value | 352 | ' | 1,353 |
Level 2 [Member] | Open natural gas contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 2 | ' |
Total liabilities, fair value | 5 | ' | 384 |
Level 2 [Member] | Interest rate cap agreements [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | 1 | 157 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 3 [Member] | Open electricity contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Level 3 [Member] | Open metal contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 3 [Member] | Open natural gas contracts [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Total liabilities, fair value | ' | ' | ' |
Level 3 [Member] | Interest rate cap agreements [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total assets, fair value | ' | ' | ' |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative commodity contracts, term | '24 months | '24 months |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Fair value of the Company's Senior Secured Notes | 415,781 | 406,875 |
Related_Parties_Additional_Inf
Related Parties - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||||||
In Thousands, except Share data, unless otherwise specified | 31-May-13 | Jun. 01, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Oct. 01, 2013 | Sep. 30, 2013 | Oct. 01, 2013 |
Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Secondary Public Offering [Member] | Halkos [Member] | Halkos [Member] | ||||||||
Subsequent Event [Member] | Secondary Public Offering [Member] | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding shares of holdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 61.50% | ' |
Common stock, shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,750,000 | ' | ' |
Percentage of common stock share outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34.40% |
Selling, general and administrative expenses under Management Services Agreement | ' | ' | ' | ' | ' | ' | ' | $4,750 | $750 | $1,000 | $1,000 | $1,000 | ' | ' | ' |
Accrued liabilities under Management Services Agreement | ' | ' | ' | ' | 250 | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination fee and management advisory fees | 4,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursement cost under Management Services Agreement | ' | ' | 24 | 62 | 77 | 167 | 102 | ' | ' | ' | ' | ' | ' | ' | ' |
Receivable from stockholder under KPS Reimbursement Obligation | ' | ' | ' | ' | 4,875 | 2,451 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to stockholder | ' | $160,000 | ' | $160,000 | $160,000 | ' | $42,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Nov. 19, 2007 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Global Brass and Copper Employees Excluding Chase [Member] | Global Brass and Copper Employees Excluding Chase [Member] | Chase [Member] | Chase [Member] | |||||
Commitments And Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive Medical Plans, Stop loss policy deductible | ' | ' | ' | ' | $275 | $275 | $100 | $100 |
Maximum comprehensive Medical Plans, Stop loss policy deductible | ' | ' | ' | ' | ' | ' | 2,000 | 2,000 |
Annual workers' compensation costs | ' | ' | ' | 500 | ' | ' | ' | ' |
Rental expense under all operating leases | $3,606 | $3,603 | $3,543 | ' | ' | ' | ' | ' |
Profits_Interest_Awards_Additi
Profits Interest Awards - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Profit Interest Units [Line Items] | ' | ' | ' | ' | ' | ' |
Profits interest compensation expense | $19,517 | $29,271 | $19,517 | $19,517 | $885 | $3,452 |
Profit sharing plan, Class B Shares, vesting period | ' | ' | ' | 'Three years | ' | ' |
Distributions received | ' | ' | ' | 20,110 | 292 | 3,452 |
Class B Shares [Member] | ' | ' | ' | ' | ' | ' |
Profit Interest Units [Line Items] | ' | ' | ' | ' | ' | ' |
Profits interest compensation expense | ' | 8,902 | 19,517 | ' | ' | ' |
Incremental non cash compensation expense | ' | $20,369 | ' | ' | ' | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Segment | Segment | |
Segment Reporting [Abstract] | ' | ' |
Number of reportable segments | 3 | 3 |
Segment_Information_Reconcilia
Segment Information - Reconciliation of Segment Adjusted EBITDA to Income Before Provision for Income Taxes and Equity Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | ' | ' | $1,345,678 | $1,254,347 | ' | $1,650,520 | $1,779,143 | $1,658,729 | |||||
Total segment adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,204 | 105,880 | ' | 131,273 | 136,876 | 105,773 | ||||||||||||
Loss on extinguishment of debt | ' | ' | -19,612 | ' | ' | ' | ' | ' | ' | ' | ' | -19,612 | ' | -19,612 | ' | ' | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,101 | -4,891 | ' | -6,934 | -4,759 | -2,971 | ||||||||||||
Interest expense | ' | ' | ' | ' | -9,618 | -9,954 | -10,988 | -9,450 | ' | -20,438 | -29,938 | -29,894 | -30,392 | -39,727 | -40,010 | -25,076 | ||||||||||||
Equity method investment income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -605 | [2] | -193 | [2] | ' | -271 | [3] | -164 | [3] | -806 | [3] | |||||||
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228 | 273 | ' | 374 | 156 | 512 | ||||||||||||
Lower of cost or market adjustment to inventory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -318 | -302 | ' | -302 | ' | ' | ||||||||||||
(Loss) gain on derivative contracts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,062 | 1,473 | ' | 1,588 | -1,095 | -11,984 | ||||||||||||
Share-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -989 | ' | ' | ' | ' | ' | ||||||||||||
Compensation expense - profits interest awards | ' | ' | -19,517 | ' | ' | ' | ' | ' | ' | ' | -29,271 | -19,517 | ' | -19,517 | -885 | -3,452 | ||||||||||||
Income before provision for income taxes and equity income | 12,532 | 17,645 | [1] | -21,063 | [1],[4] | 21,971 | [1] | 35,848 | [1] | 10,779 | [1] | 17,498 | [1] | 21,712 | [1] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |||||
LIFO liquidation gain | 4,775 | ' | ' | ' | 15,236 | ' | ' | ' | ' | ' | ' | ' | ' | 4,775 | 15,236 | 21,009 | ||||||||||||
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,719 | 36,698 | ' | 46,759 | 49,223 | 59,612 | ||||||||||||
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Corporate and Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -19,101 | -14,664 | ' | -20,562 | -19,518 | -15,714 | ||||||||||||
Olin Brass [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 613,926 | 496,786 | ' | 676,563 | 718,244 | 710,271 | ||||||||||||
Total segment adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,209 | 37,432 | ' | 45,115 | 45,320 | 23,291 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,849 | -2,622 | -1,624 | ||||||||||||
LIFO liquidation gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175 | 8,401 | 23,253 | ||||||||||||
Olin Brass [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,539 | 36,315 | ' | 46,287 | 48,312 | 57,919 | ||||||||||||
Chase [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 488,475 | 505,951 | ' | 647,711 | 704,968 | 611,870 | ||||||||||||
Total segment adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,831 | 53,311 | ' | 66,641 | 73,658 | 61,158 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,521 | -1,921 | -1,200 | ||||||||||||
LIFO liquidation gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,623 | ' | 75 | ||||||||||||
Chase [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 | 302 | ' | 305 | 626 | 765 | ||||||||||||
Oster [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,277 | 251,610 | ' | 326,246 | 355,931 | 336,588 | ||||||||||||
Total segment adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,164 | 15,137 | ' | 19,517 | 17,898 | 21,324 | ||||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -247 | -196 | -147 | ||||||||||||
LIFO liquidation gain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,478 | 7,050 | -48 | ||||||||||||
Oster [Member] | Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $173 | $81 | ' | $167 | $285 | $928 | ||||||||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||||||
[2] | Excludes accretion income of $181 in each of the nine months ended September 30, 2013 and 2012. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||||
[3] | Excludes accretion income of $724 in each of the years ended December 31, 2012, 2011 and 2010. Equity method investment income is exclusive to Olin Brass. | |||||||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Segment_Information_Reconcilia1
Segment Information - Reconciliation of Segment Adjusted EBITDA to Income Before Provision for Income Taxes and Equity Income (Parenthetical) (Detail) (Dowa - Olin Metal Corporation [Member], USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Dowa - Olin Metal Corporation [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Accretion income | $543 | $543 | $724 | $724 | $724 |
Earnings_Per_Share_Schedule_of
Earnings Per Share - Schedule of Basic and Diluted Earning Per Shares Attributable to Company (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Numerator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | $7,501 | $11,032 | [1] | ($20,005) | [1] | $13,993 | [1] | $23,590 | [1] | $7,283 | [1] | $10,201 | [1] | $14,058 | [1] | ($6,012) | $24,259 | $4,205 | $5,020 | $31,542 | $12,521 | $55,132 | $41,633 |
Denominator | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Weighted-average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,110,000 | 21,110,000 | ' | 21,110,000 | 21,110,000 | 21,110,000 | |||||||
Effect of potentially dilutive securities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Stock options and nonvested share awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,169 | ' | ' | ' | ' | ' | |||||||
Weighted-average common shares outstanding, assuming dilution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,134,169 | 21,110,000 | ' | ' | ' | ' | |||||||
Net income attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Basic | $0.36 | $0.52 | [1] | ($0.95) | [1] | $0.66 | [1] | $1.12 | [1] | $0.35 | [1] | $0.48 | [1] | $0.67 | [1] | ($0.28) | $1.15 | $0.20 | $0.24 | $1.49 | $0.59 | $2.61 | $1.97 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | $0.24 | ' | ' | ' | ' | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Earnings Per Share [Line Items] | ' |
Options granted to purchase of common stock | 107,895 |
Restricted Stock [Member] | ' |
Earnings Per Share [Line Items] | ' |
Nonvested shares issued to members and directors | 141,486 |
Performance Shares [Member] | ' |
Earnings Per Share [Line Items] | ' |
Nonvested shares issued to members and directors | 101,754 |
Stock_Split_Additional_Informa
Stock Split - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Apr. 10, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 |
Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | IPO [Member] | |||||
Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Stock split Ratio | 211,100 | 211,100 | ' | ' | ' | ' | ' |
Common stock, Shares issued under initial public offering | ' | ' | ' | ' | ' | ' | 8,050,000 |
Common stock per share value issued to underwriters | ' | ' | ' | ' | ' | ' | $11 |
Adjustment to accumulated deficit | ' | ' | ' | ' | ($211) | ($211) | ' |
Impact to common stock | ' | $211 | $211 | $211 | $211 | $211 | ' |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information - Additional Information (Detail) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended |
Jun. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | |
Senior Secured Notes [Member] | Senior Secured Notes [Member] | ABL Facility [Member] | ABL Facility [Member] | |
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' |
Ownership percentage of equity holdings | 100.00% | 100.00% | 100.00% | 100.00% |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information - Consolidating Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 |
In Thousands, unless otherwise specified | |||||||||||
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | $18,088 | $13,862 | $13,018 | ' | ' | $49,537 | ' | ' | ' | $15,523 | $7,832 |
Accounts receivable, net of allowance | 198,473 | 164,317 | 211,638 | 193,310 | 203,740 | 161,715 | ' | ' | ' | ' | ' |
Inventories | 208,778 | 174,378 | ' | 180,004 | 172,677 | 185,947 | 163,492 | 168,735 | 202,515 | 192,623 | ' |
Prepaid expenses and other current assets | 26,591 | 12,141 | ' | ' | ' | 19,912 | 25,746 | 22,201 | 31,101 | 38,441 | ' |
Deferred income taxes | 32,122 | 33,465 | 26,361 | 29,343 | 28,119 | 29,027 | 27,716 | 27,053 | 28,394 | 29,312 | ' |
Income tax receivable, net | 625 | 1,300 | 474 | 4,520 | 1,405 | 5,046 | 3,260 | 1,804 | 2,993 | 2,276 | ' |
Total current assets | 484,677 | 399,463 | 447,298 | 430,404 | 497,339 | 451,184 | 464,098 | 473,231 | 510,401 | 439,564 | ' |
Property, plant and equipment, net | 78,137 | 71,127 | ' | ' | ' | 57,556 | 52,067 | 47,780 | 42,587 | ' | ' |
Investment in joint venture | 2,184 | 2,972 | ' | ' | ' | 3,507 | ' | ' | ' | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 4,399 | 4,399 | ' | ' | ' | 4,399 | ' | ' | ' | ' | ' |
Intangible assets, net | 762 | 839 | ' | ' | ' | 951 | ' | ' | ' | ' | ' |
Deferred income taxes | 5,736 | 6,138 | 17,040 | 19,657 | 19,798 | 19,970 | 31,257 | 31,921 | 32,520 | 34,254 | ' |
Other noncurrent assets | 16,620 | 17,755 | ' | ' | ' | 11,173 | ' | ' | ' | ' | ' |
Total assets | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' | ' | 31,880 | ' | ' | ' | ' | ' |
Accounts payable | 105,311 | 81,577 | ' | 104,585 | 111,425 | 77,888 | 107,959 | ' | ' | ' | ' |
Accrued liabilities | 59,639 | 48,424 | 59,604 | 40,574 | 48,364 | 48,604 | 59,291 | 63,314 | 72,592 | 84,992 | ' |
Accrued interest | 12,448 | 3,287 | ' | ' | ' | 4,069 | ' | ' | ' | ' | ' |
Income tax payable | 156 | 248 | ' | ' | ' | 300 | ' | ' | ' | ' | ' |
Total current liabilities | 177,554 | 133,536 | 180,595 | 148,507 | 195,457 | 162,741 | 175,044 | 183,986 | 201,326 | 170,999 | ' |
Long-term debt | 397,500 | 389,522 | ' | ' | ' | 271,698 | ' | ' | ' | ' | ' |
Other noncurrent liabilities | 26,312 | 27,436 | ' | ' | ' | 31,641 | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 601,366 | 550,494 | 610,727 | 605,174 | 498,419 | 466,080 | 507,408 | 521,497 | 567,463 | 509,252 | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | -12,716 | -51,351 | -58,499 | -69,309 | 93,247 | 79,492 | 56,382 | 49,347 | 39,907 | 25,564 | ' |
Noncontrolling interest | 3,865 | 3,550 | ' | ' | ' | 3,168 | ' | ' | ' | ' | ' |
Total (deficit) / equity | -8,851 | -47,801 | -55,058 | -65,951 | 96,486 | 82,660 | 59,555 | 52,478 | 42,940 | 28,469 | 24,859 |
Total liabilities and (deficit) / equity | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, net of allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in joint venture | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | 5,447 | 42,522 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | 7,269 | 8,829 | ' | ' | ' | 5,528 | ' | ' | ' | ' | ' |
Total liabilities | 12,716 | 51,351 | ' | ' | ' | 5,528 | ' | ' | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | -12,716 | -51,351 | ' | ' | ' | 79,492 | ' | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total (deficit) / equity | -12,716 | -51,351 | ' | ' | ' | 79,492 | ' | ' | ' | ' | ' |
Total liabilities and (deficit) / equity | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 11,164 | 8,537 | 13,460 | ' | ' | 45,302 | ' | ' | ' | 13,842 | 3,321 |
Accounts receivable, net of allowance | 4,914 | 4,630 | ' | ' | ' | 4,184 | ' | ' | ' | ' | ' |
Inventories | ' | 343 | ' | ' | ' | 218 | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | 10,064 | 9,229 | ' | ' | ' | 17,916 | ' | ' | ' | ' | ' |
Deferred income taxes | 32,122 | 33,465 | ' | ' | ' | 29,027 | ' | ' | ' | ' | ' |
Income tax receivable, net | 799 | 1,656 | ' | ' | ' | 5,204 | ' | ' | ' | ' | ' |
Total current assets | 59,063 | 57,860 | ' | ' | ' | 101,851 | ' | ' | ' | ' | ' |
Property, plant and equipment, net | 976 | 1,154 | ' | ' | ' | 923 | ' | ' | ' | ' | ' |
Investment in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in subsidiaries | 623,442 | 522,912 | ' | ' | ' | 393,708 | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | 5,736 | 6,138 | ' | ' | ' | 19,970 | ' | ' | ' | ' | ' |
Other noncurrent assets | 15,705 | 17,115 | ' | ' | ' | 9,963 | ' | ' | ' | ' | ' |
Total assets | 704,922 | 605,179 | ' | ' | ' | 526,415 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current maturities of long-term debt | ' | ' | ' | ' | ' | 31,880 | ' | ' | ' | ' | ' |
Accounts payable | 2,455 | 1,398 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued liabilities | 18,710 | 20,592 | ' | ' | ' | 23,202 | ' | ' | ' | ' | ' |
Accrued interest | 12,448 | 3,287 | ' | ' | ' | 4,069 | ' | ' | ' | ' | ' |
Income tax payable | ' | 248 | ' | ' | ' | 300 | ' | ' | ' | ' | ' |
Total current liabilities | 33,613 | 25,525 | ' | ' | ' | 59,451 | ' | ' | ' | ' | ' |
Long-term debt | 397,500 | 389,522 | ' | ' | ' | 271,698 | ' | ' | ' | ' | ' |
Other noncurrent liabilities | 26,312 | 27,436 | ' | ' | ' | 31,641 | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | 252,944 | 205,218 | ' | ' | ' | 78,605 | ' | ' | ' | ' | ' |
Total liabilities | 710,369 | 647,701 | ' | ' | ' | 441,395 | ' | ' | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | -5,447 | -42,522 | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total (deficit) / equity | -5,447 | -42,522 | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Total liabilities and (deficit) / equity | 704,922 | 605,179 | ' | ' | ' | 526,415 | ' | ' | ' | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 2,633 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,440 |
Accounts receivable, net of allowance | 176,272 | 144,533 | ' | ' | ' | 145,083 | ' | ' | ' | ' | ' |
Inventories | 193,825 | 158,713 | ' | ' | ' | 174,429 | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | 16,441 | 2,600 | ' | ' | ' | 2,245 | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax receivable, net | ' | ' | ' | ' | ' | 128 | ' | ' | ' | ' | ' |
Total current assets | 389,171 | 305,846 | ' | ' | ' | 321,885 | ' | ' | ' | ' | ' |
Property, plant and equipment, net | 76,810 | 69,646 | ' | ' | ' | 56,322 | ' | ' | ' | ' | ' |
Investment in joint venture | 2,184 | 2,972 | ' | ' | ' | 3,507 | ' | ' | ' | ' | ' |
Investment in subsidiaries | 19,974 | 19,850 | ' | ' | ' | 13,351 | ' | ' | ' | ' | ' |
Intercompany accounts | 270,599 | 223,081 | ' | ' | ' | 92,889 | ' | ' | ' | ' | ' |
Goodwill | 4,399 | 4,399 | ' | ' | ' | 4,399 | ' | ' | ' | ' | ' |
Intangible assets, net | 762 | 839 | ' | ' | ' | 951 | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | 915 | 640 | ' | ' | ' | 1,210 | ' | ' | ' | ' | ' |
Total assets | 764,814 | 627,273 | ' | ' | ' | 494,514 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 101,105 | 77,390 | ' | ' | ' | 76,190 | ' | ' | ' | ' | ' |
Accrued liabilities | 40,232 | 26,971 | ' | ' | ' | 24,616 | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payable | 35 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | 141,372 | 104,361 | ' | ' | ' | 100,806 | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 141,372 | 104,361 | ' | ' | ' | 100,806 | ' | ' | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | 623,442 | 522,912 | ' | ' | ' | 393,708 | ' | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total (deficit) / equity | 623,442 | 522,912 | ' | ' | ' | 393,708 | ' | ' | ' | ' | ' |
Total liabilities and (deficit) / equity | 764,814 | 627,273 | ' | ' | ' | 494,514 | ' | ' | ' | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | 4,291 | 5,446 | 3,915 | ' | ' | 4,648 | ' | ' | ' | 2,173 | 2,071 |
Accounts receivable, net of allowance | 17,287 | 15,154 | ' | ' | ' | 12,448 | ' | ' | ' | ' | ' |
Inventories | 15,363 | 15,885 | ' | ' | ' | 11,921 | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | 86 | 312 | ' | ' | ' | 135 | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current assets | 37,027 | 36,797 | ' | ' | ' | 29,152 | ' | ' | ' | ' | ' |
Property, plant and equipment, net | 351 | 327 | ' | ' | ' | 311 | ' | ' | ' | ' | ' |
Investment in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 37,378 | 37,124 | ' | ' | ' | 29,463 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 2,161 | 2,910 | ' | ' | ' | 2,495 | ' | ' | ' | ' | ' |
Accrued liabilities | 697 | 861 | ' | ' | ' | 786 | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payable | 295 | 356 | ' | ' | ' | 286 | ' | ' | ' | ' | ' |
Total current liabilities | 3,153 | 4,127 | ' | ' | ' | 3,567 | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | 10,386 | 9,597 | ' | ' | ' | 9,377 | ' | ' | ' | ' | ' |
Total liabilities | 13,539 | 13,724 | ' | ' | ' | 12,944 | ' | ' | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | 19,974 | 19,850 | ' | ' | ' | 13,351 | ' | ' | ' | ' | ' |
Noncontrolling interest | 3,865 | 3,550 | ' | ' | ' | 3,168 | ' | ' | ' | ' | ' |
Total (deficit) / equity | 23,839 | 23,400 | ' | ' | ' | 16,519 | ' | ' | ' | ' | ' |
Total liabilities and (deficit) / equity | 37,378 | 37,124 | ' | ' | ' | 29,463 | ' | ' | ' | ' | ' |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | -121 | -4,357 | ' | ' | -413 | ' | ' | ' | -492 | ' |
Accounts receivable, net of allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventories | -410 | -563 | ' | ' | ' | -621 | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' | ' | -384 | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax receivable, net | -174 | -356 | ' | ' | ' | -286 | ' | ' | ' | ' | ' |
Total current assets | -584 | -1,040 | ' | ' | ' | -1,704 | ' | ' | ' | ' | ' |
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in subsidiaries | -643,416 | -542,762 | ' | ' | ' | -492,079 | ' | ' | ' | ' | ' |
Intercompany accounts | -270,599 | -223,081 | ' | ' | ' | -92,889 | ' | ' | ' | ' | ' |
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | -914,599 | -766,883 | ' | ' | ' | -586,672 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | -410 | -121 | ' | ' | ' | -797 | ' | ' | ' | ' | ' |
Accrued liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax payable | -174 | -356 | ' | ' | ' | -286 | ' | ' | ' | ' | ' |
Total current liabilities | -584 | -477 | ' | ' | ' | -1,083 | ' | ' | ' | ' | ' |
Long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other noncurrent liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | -5,447 | -42,522 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intercompany accounts | -270,599 | -223,644 | ' | ' | ' | -93,510 | ' | ' | ' | ' | ' |
Total liabilities | -276,630 | -266,643 | ' | ' | ' | -94,593 | ' | ' | ' | ' | ' |
Commitments and contingencies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Global Brass and Copper Holdings, Inc. stockholders' (deficit) / equity | -637,969 | -500,240 | ' | ' | ' | -492,079 | ' | ' | ' | ' | ' |
Noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total (deficit) / equity | -637,969 | -500,240 | ' | ' | ' | -492,079 | ' | ' | ' | ' | ' |
Total liabilities and (deficit) / equity | ($914,599) | ($766,883) | ' | ' | ' | ($586,672) | ' | ' | ' | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information - Consolidating Statement of Operations (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | ' | ' | $1,345,678 | $1,254,347 | ' | $1,650,520 | $1,779,143 | $1,658,729 | |
Cost of sales | ' | 349,580 | 369,858 | 393,437 | 310,141 | 401,423 | 429,020 | 442,889 | 763,295 | 871,909 | 1,201,815 | 1,112,875 | 1,273,332 | 1,467,334 | 1,583,473 | 1,496,695 | ||||||||
Gross profit (loss) | 41,714 | [2] | 44,397 | [1] | 47,121 | [1] | 49,954 | [1] | 63,336 | [1],[3] | 38,077 | [1] | 44,231 | [1] | 50,026 | [1] | 97,075 | 94,257 | 143,863 | 141,472 | 132,334 | 183,186 | 195,670 | 162,034 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92,622 | 73,241 | ' | 92,641 | 69,391 | 68,857 | ||||||||
Operating income (loss) | ' | 27,044 | 9,156 | 32,031 | 46,386 | 20,979 | 27,748 | 31,166 | 41,187 | 58,914 | 51,241 | 68,231 | 79,893 | 90,545 | 126,279 | 93,177 | ||||||||
Interest expense | ' | ' | ' | ' | 9,618 | 9,954 | 10,988 | 9,450 | ' | 20,438 | 29,938 | 29,894 | 30,392 | 39,727 | 40,010 | 25,076 | ||||||||
Third party interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,613 | ||||||||
Related party interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,463 | ||||||||
Loss on extinguishment of debt | ' | ' | 19,612 | ' | ' | ' | ' | ' | ' | ' | ' | 19,612 | ' | 19,612 | ' | ' | ||||||||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 256 | 172 | ' | 121 | 432 | 810 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | 12,532 | 17,645 | [1] | -21,063 | [1],[4] | 21,971 | [1] | 35,848 | [1] | 10,779 | [1] | 17,498 | [1] | 21,712 | [1] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |
Provision for (benefit from) income taxes | ' | 6,769 | -971 | 8,198 | 12,613 | 3,726 | 7,258 | 7,840 | 7,227 | 15,098 | 17,762 | 13,996 | 18,824 | 19,185 | 31,437 | 26,676 | ||||||||
Income (loss) before equity income | ' | 10,876 | -20,092 | 13,773 | 23,235 | 7,053 | 10,240 | 13,872 | -6,319 | 24,112 | 3,285 | 4,557 | 31,165 | 11,900 | 54,400 | 40,615 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148 | 736 | ' | 995 | 888 | 1,530 | ||||||||
Net (loss) income | 7,602 | 11,137 | [1] | -19,891 | [1] | 14,047 | [1] | 23,570 | [1] | 7,280 | [1] | 10,268 | [1] | 14,170 | [1] | -5,844 | 24,438 | 4,433 | 5,293 | 31,718 | 12,895 | 55,288 | 42,145 | |
Less: Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228 | 273 | ' | 374 | 156 | 512 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | 7,501 | 11,032 | [1] | -20,005 | [1] | 13,993 | [1] | 23,590 | [1] | 7,283 | [1] | 10,201 | [1] | 14,058 | [1] | -6,012 | 24,259 | 4,205 | 5,020 | 31,542 | 12,521 | 55,132 | 41,633 | |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,390 | 1,086 | ' | 1,427 | 1,650 | 1,102 | ||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,390 | -1,086 | ' | -1,427 | -1,650 | -1,102 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,390 | -1,086 | ' | -1,427 | -1,650 | -1,102 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,075 | -418 | ' | -550 | -635 | -424 | ||||||||
Income (loss) before equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,315 | -668 | ' | -877 | -1,015 | -678 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,520 | 5,688 | ' | 13,398 | 56,147 | 42,311 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,205 | 5,020 | ' | 12,521 | 55,132 | 41,633 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,205 | 5,020 | ' | 12,521 | 55,132 | 41,633 | ||||||||
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,208 | -1,896 | ' | 83 | 735 | 16,759 | ||||||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,208 | 1,896 | ' | -83 | -735 | -16,759 | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,569 | 26,223 | ' | 30,756 | 15,721 | 12,337 | ||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -34,777 | -24,327 | ' | -30,839 | -16,456 | -29,096 | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,938 | 29,896 | ' | 39,730 | 39,950 | 25,070 | ||||||||
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,612 | ' | 19,612 | ' | ' | ||||||||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 264 | 689 | ' | 766 | 292 | 668 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64,979 | -74,524 | ' | -90,947 | -56,698 | -54,834 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,753 | -24,813 | ' | -30,066 | -20,765 | -20,214 | ||||||||
Income (loss) before equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -49,226 | -49,711 | ' | -60,881 | -35,933 | -34,620 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,746 | 55,399 | ' | 74,279 | 92,080 | 76,931 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,520 | 5,688 | ' | 13,398 | 56,147 | 42,311 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,520 | 5,688 | ' | 13,398 | 56,147 | 42,311 | ||||||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,294,809 | 1,204,470 | ' | 1,584,301 | 1,713,367 | 1,599,714 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,155,186 | 1,071,405 | ' | 1,409,588 | 1,523,655 | 1,428,661 | ||||||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 139,623 | 133,065 | ' | 174,713 | 189,712 | 171,053 | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51,444 | 43,969 | ' | 57,879 | 49,451 | 52,988 | ||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88,179 | 89,096 | ' | 116,834 | 140,261 | 118,065 | ||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2 | ' | -3 | 60 | 6 | ||||||||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -134 | 2 | ' | -120 | 317 | 219 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88,313 | 89,096 | ' | 116,957 | 139,884 | 117,840 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,676 | 38,710 | ' | 47,828 | 51,662 | 46,093 | ||||||||
Income (loss) before equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,637 | 50,386 | ' | 69,129 | 88,222 | 71,747 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,109 | 5,013 | ' | 5,150 | 3,858 | 5,184 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,746 | 55,399 | ' | 74,279 | 92,080 | 76,931 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,746 | 55,399 | ' | 74,279 | 92,080 | 76,931 | ||||||||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 73,586 | 69,679 | ' | 93,655 | 88,136 | 91,256 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,138 | 63,168 | ' | 85,099 | 81,443 | 83,516 | ||||||||
Gross profit (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,448 | 6,511 | ' | 8,556 | 6,693 | 7,740 | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,219 | 1,963 | ' | 2,579 | 2,569 | 2,430 | ||||||||
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,229 | 4,548 | ' | 5,977 | 4,124 | 5,310 | ||||||||
Other (income) expense, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 126 | -519 | ' | -525 | -177 | -77 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,103 | 5,067 | ' | 6,502 | 4,301 | 5,387 | ||||||||
Provision for (benefit from) income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 914 | 517 | ' | 1,973 | 1,175 | 1,221 | ||||||||
Income (loss) before equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,189 | 4,550 | ' | 4,529 | 3,126 | 4,166 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,189 | 4,550 | ' | 4,529 | 3,126 | 4,166 | ||||||||
Less: Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 228 | 273 | ' | 374 | 156 | 512 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,961 | 4,277 | ' | 4,155 | 2,970 | 3,654 | ||||||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -22,717 | -19,802 | ' | -27,436 | -22,360 | -32,241 | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -22,717 | -19,802 | ' | -27,436 | -22,360 | -32,241 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -66,227 | -65,364 | ' | -91,832 | -151,197 | -122,896 | ||||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -66,227 | -65,364 | ' | -91,832 | -151,197 | -122,896 | ||||||||
Net income attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($66,227) | ($65,364) | ' | ($91,832) | ($151,197) | ($122,896) | ||||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||
[2] | Includes $4,775 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[3] | Includes $15,236 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information - Consolidating Statement of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | $7,602 | $11,137 | [1] | ($19,891) | [1] | $14,047 | [1] | $23,570 | [1] | $7,280 | [1] | $10,268 | [1] | $14,170 | [1] | ($5,844) | $24,438 | $4,433 | $5,293 | $31,718 | $12,895 | $55,288 | $42,145 |
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -618 | -130 | ' | -449 | 469 | 513 | |||||||
Comprehensive income (loss) | ' | 11,130 | -20,034 | 14,067 | 23,419 | 7,370 | 10,475 | 14,493 | -5,967 | 24,968 | 3,815 | 5,163 | 32,338 | 12,446 | 55,757 | 42,658 | |||||||
Less: Comprehensive income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 315 | 273 | ' | 382 | 263 | 583 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | 11,047 | -20,153 | 13,996 | 23,424 | 7,328 | 10,377 | 14,365 | -6,157 | 24,742 | 3,500 | 4,890 | 32,070 | 12,064 | 55,494 | 42,075 | |||||||
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,205 | 5,020 | ' | 12,521 | 55,132 | 41,633 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -705 | -130 | ' | -457 | 362 | 442 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500 | 4,890 | ' | 12,064 | 55,494 | 42,075 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,500 | 4,890 | ' | 12,064 | 55,494 | 42,075 | |||||||
Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,520 | 5,688 | ' | 13,398 | 56,147 | 42,311 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -705 | -130 | ' | -457 | 362 | 442 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,815 | 5,558 | ' | 12,941 | 56,509 | 42,753 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,815 | 5,558 | ' | 12,941 | 56,509 | 42,753 | |||||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 56,746 | 55,399 | ' | 74,279 | 92,080 | 76,931 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,181 | -200 | ' | -521 | 415 | 1,430 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,565 | 55,199 | ' | 73,758 | 92,495 | 78,361 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,565 | 55,199 | ' | 73,758 | 92,495 | 78,361 | |||||||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,189 | 4,550 | ' | 4,529 | 3,126 | 4,166 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340 | 983 | ' | 1,060 | -417 | -1,741 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,529 | 5,533 | ' | 5,589 | 2,709 | 2,425 | |||||||
Less: Comprehensive income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 315 | 273 | ' | 382 | 263 | 583 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,214 | 5,260 | ' | 5,207 | 2,446 | 1,842 | |||||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -66,227 | -65,364 | ' | -91,832 | -151,197 | -122,896 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,633 | -653 | ' | -74 | -253 | -60 | |||||||
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -64,594 | -66,017 | ' | -91,906 | -151,450 | -122,956 | |||||||
Comprehensive income (loss) attributable to Global Brass and Copper Holdings, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($64,594) | ($66,017) | ' | ($91,906) | ($151,450) | ($122,956) | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Condensed_Consolidating_Financ6
Condensed Consolidating Financial Information - Consolidating Statement of Cash Flows (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | $4,532 | $58,252 | $81,914 | $64,848 | $69,414 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital expenditures | -13,205 | -11,360 | -20,408 | -22,440 | -11,927 |
Proceeds from sale of property, plant and equipment | 174 | 25 | 32 | 97 | 39 |
Net cash provided by (used in) investing activities | -13,031 | -11,335 | -20,376 | -22,343 | -11,888 |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Deferred financing fees | ' | -12,981 | -12,981 | -1,675 | -15,131 |
Proceeds from senior secured notes | ' | 375,000 | 375,000 | ' | ' |
Proceeds from term loan | ' | ' | ' | ' | 305,550 |
Payments on term loan | ' | -310,875 | -310,875 | -3,300 | -825 |
Borrowings on ABL Facility | 337,236 | 142,400 | 204,275 | 168,021 | 1,096,578 |
Payments on ABL Facility | -329,258 | -113,900 | -189,753 | -168,021 | -1,272,197 |
Principal payments under capital lease obligation | ' | ' | ' | -916 | -52 |
Payments on related party debt | ' | ' | ' | ' | -119,805 |
Distribution to shareholder | ' | -160,000 | -160,000 | ' | -42,500 |
Amounts due from stockholder | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Cash overdrafts | ' | ' | ' | ' | -1,228 |
Net cash provided by (used in) financing activities | 12,853 | -82,754 | -96,758 | -8,342 | -49,610 |
Effect of foreign currency exchange rate changes | -128 | -682 | -455 | -149 | -225 |
Net (decrease) increase in cash | 4,226 | -36,519 | -35,675 | 34,014 | 7,691 |
Cash at beginning of period | 13,862 | 49,537 | 49,537 | 15,523 | 7,832 |
Cash at end of period | 18,088 | 13,018 | 13,862 | 49,537 | 15,523 |
Parent [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | ' | 73,624 | 73,624 | ' | 42,500 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital distributions from subsidiary | ' | 86,376 | 86,376 | ' | ' |
Payable to subsidiaries | -4,875 | 2,398 | 2,424 | 2,451 | ' |
Net cash provided by (used in) investing activities | -4,875 | 88,774 | 88,800 | 2,451 | ' |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Distribution to shareholder | ' | -160,000 | -160,000 | ' | -42,500 |
Amounts due from stockholder | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Net cash provided by (used in) financing activities | 4,875 | -162,398 | -162,424 | -2,451 | -42,500 |
Net (decrease) increase in cash | ' | ' | ' | ' | ' |
Cash at beginning of period | ' | ' | ' | ' | ' |
Cash at end of period | ' | ' | ' | ' | ' |
Issuer [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | -5,275 | 49,063 | 58,118 | 37,381 | 60,079 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital expenditures | -76 | -549 | -549 | -946 | ' |
Net cash provided by (used in) investing activities | -76 | -549 | -549 | -946 | ' |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Deferred financing fees | ' | -12,981 | -12,981 | -1,675 | -15,131 |
Proceeds from senior secured notes | ' | 375,000 | 375,000 | ' | ' |
Proceeds from term loan | ' | ' | ' | ' | 305,550 |
Payments on term loan | ' | -310,875 | -310,875 | -3,300 | -825 |
Borrowings on ABL Facility | 337,236 | 142,400 | 204,275 | 168,021 | 1,096,578 |
Payments on ABL Facility | -329,258 | -113,900 | -189,753 | -168,021 | -1,272,197 |
Payments on related party debt | ' | ' | ' | ' | -119,805 |
Distribution to shareholder | ' | -160,000 | -160,000 | ' | -42,500 |
Cash overdrafts | ' | ' | ' | ' | -1,228 |
Net cash provided by (used in) financing activities | 7,978 | -80,356 | -94,334 | -4,975 | -49,558 |
Net (decrease) increase in cash | 2,627 | -31,842 | -36,765 | 31,460 | 10,521 |
Cash at beginning of period | 8,537 | 45,302 | 45,302 | 13,842 | 3,321 |
Cash at end of period | 11,164 | 13,460 | 8,537 | 45,302 | 13,842 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | 15,537 | 10,765 | 19,781 | 22,250 | 9,237 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital expenditures | -13,074 | -10,790 | -19,813 | -21,429 | -11,664 |
Proceeds from sale of property, plant and equipment | 170 | 25 | 32 | 95 | 39 |
Net cash provided by (used in) investing activities | -12,904 | -10,765 | -19,781 | -21,334 | -11,625 |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Principal payments under capital lease obligation | ' | ' | ' | -916 | -52 |
Net cash provided by (used in) financing activities | ' | ' | ' | -916 | -52 |
Net (decrease) increase in cash | 2,633 | ' | ' | ' | -2,440 |
Cash at beginning of period | ' | ' | ' | ' | 2,440 |
Cash at end of period | 2,633 | ' | ' | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | 1,024 | -30 | 1,299 | 2,687 | 590 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital expenditures | -55 | -21 | -46 | -65 | -263 |
Proceeds from sale of property, plant and equipment | 4 | ' | ' | 2 | ' |
Net cash provided by (used in) investing activities | -51 | -21 | -46 | -63 | -263 |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Distribution to shareholder | -2,000 | ' | ' | ' | ' |
Net cash provided by (used in) financing activities | -2,000 | ' | ' | ' | ' |
Effect of foreign currency exchange rate changes | -128 | -682 | -455 | -149 | -225 |
Net (decrease) increase in cash | -1,155 | -733 | 798 | 2,475 | 102 |
Cash at beginning of period | 5,446 | 4,648 | 4,648 | 2,173 | 2,071 |
Cash at end of period | 4,291 | 3,915 | 5,446 | 4,648 | 2,173 |
Eliminations [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' | ' | ' |
Net cash provided by (used for) operating activities | -6,754 | -75,170 | -70,908 | 2,530 | -42,992 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital distributions from subsidiary | ' | -86,376 | -86,376 | ' | ' |
Payable to subsidiaries | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Net cash provided by (used in) investing activities | 4,875 | -88,774 | -88,800 | -2,451 | ' |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Distribution to shareholder | 2,000 | 160,000 | 160,000 | ' | 42,500 |
Net cash provided by (used in) financing activities | 2,000 | 160,000 | 160,000 | ' | 42,500 |
Net (decrease) increase in cash | 121 | -3,944 | 292 | 79 | -492 |
Cash at beginning of period | -121 | -413 | -413 | -492 | ' |
Cash at end of period | ' | ($4,357) | ($121) | ($413) | ($492) |
Organization_and_Formation_of_1
Organization and Formation of the Company - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Segment | Segment | |
Regulatory Assets [Abstract] | ' | ' |
Number of reportable segments | 3 | 3 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Nov. 19, 2007 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | Jan. 01, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||||
Chase [Member] | Chase [Member] | Chase [Member] | Chase [Member] | Chase [Member] | Dowa - Olin Metal Corporation [Member] | Dowa - Olin Metal Corporation [Member] | Dowa - Olin Metal Corporation [Member] | Dowa - Olin Metal Corporation [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Income Tax Expense Benefit [Member] | Income Tax Expense Benefit [Member] | Non Toll [Member] | Non Toll [Member] | Non Toll [Member] | Toll [Member] | Toll [Member] | Toll [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Derivative [Member] | Duplicate accruals for receipt of raw material [Member] | Duplicate accruals for receipt of raw material [Member] | Duplicate accruals for receipt of raw material [Member] | Duplicate accruals for receipt of raw material [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Raw material in-transit [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Workers Compensation Insurance [Member] | Olin Luotong (GZ) Corporation ("Luotong") [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||||||||||
Net Deferred Tax Asset [Member] | Net Deferred Tax Asset [Member] | Net Deferred Tax Asset [Member] | (Accumulated deficit)/ Retained Earnings [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Cost of sales [Member] | Cost of sales [Member] | Restatement Adjustment [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Cost of sales [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Cost of sales [Member] | Cost of sales [Member] | |||||||||||||||||||||||||||||||||||||||||
Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Accrued Liabilities [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Inventory [Member] | Inventory [Member] | Inventory [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | Accrued Liabilities [Member] | Accrued Liabilities [Member] | Accrued Liabilities [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Prepaid Expenses and Other Current Assets [Member] | Restatement Adjustment [Member] | Restatement Adjustment [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Consolidation And Basis Of Presentation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Interest in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | 20.00% | 50.00% | 50.00% | |||||||
Percentage of ownership | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | |||||||
Percentage of net income attributable to non controlling interest | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Overstated (understated) amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $794 | $888 | $797 | $482 | ($94) | $91 | ' | ' | ' | ' | ' | ' | ($510) | ($510) | $303 | $510 | $813 | $389 | ($1,396) | ($389) | $389 | $423 | $275 | ($22) | $811 | $423 | ($148) | ($297) | ($7,225) | ($7,225) | ($5,725) | ($7,269) | ($7,269) | ($5,036) | $44 | $733 | ' | ' | ' | ' | ' | |||||||
Percentage of material component in inventory | 70.00% | ' | ' | ' | 72.00% | ' | ' | ' | 73.00% | ' | 70.00% | 72.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Negative basis difference | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,192 | 5,735 | 6,459 | 9,416 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Negative basis difference accreted on a straight-line basis Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '13 years | '13 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Carrying value of goodwill | 4,399 | ' | ' | ' | 4,399 | ' | ' | ' | 4,399 | ' | 4,399 | 4,399 | ' | 4,399 | ' | 4,399 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Goodwill deductible for tax purpose | 2,131 | ' | ' | ' | ' | ' | ' | ' | 1,973 | ' | 2,131 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net sales | 396,173 | 393,977 | [1] | 416,979 | [1] | 443,391 | [1] | 373,477 | [1] | 439,500 | [1] | 473,251 | [1] | 492,915 | [1] | 1,345,678 | 1,254,347 | 1,650,520 | 1,779,143 | 1,658,729 | 488,475 | 505,951 | 647,711 | 704,968 | 611,870 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,576,070 | 1,710,595 | 1,577,771 | 74,450 | 68,548 | 80,958 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research & development expenditure | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,516 | $1,540 | $1,740 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Summary_of_Revisions_to_Consol3
Summary of Revisions to Consolidated Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 |
In Thousands, unless otherwise specified | |||||||||||
Accounts receivable, net of allowance | $198,473 | $164,317 | $211,638 | $193,310 | $203,740 | $161,715 | ' | ' | ' | ' | ' |
Inventories | 208,778 | 174,378 | ' | 180,004 | 172,677 | 185,947 | 163,492 | 168,735 | 202,515 | 192,623 | ' |
Prepaid expenses and other current assets | 26,591 | 12,141 | ' | ' | ' | 19,912 | 25,746 | 22,201 | 31,101 | 38,441 | ' |
Deferred income tax assets-current | 32,122 | 33,465 | 26,361 | 29,343 | 28,119 | 29,027 | 27,716 | 27,053 | 28,394 | 29,312 | ' |
Income tax receivable | 625 | 1,300 | 474 | 4,520 | 1,405 | 5,046 | 3,260 | 1,804 | 2,993 | 2,276 | ' |
Total current assets | 484,677 | 399,463 | 447,298 | 430,404 | 497,339 | 451,184 | 464,098 | 473,231 | 510,401 | 439,564 | ' |
Property, plant and equipment, net | 78,137 | 71,127 | ' | ' | ' | 57,556 | 52,067 | 47,780 | 42,587 | ' | ' |
Deferred income tax assets-noncurrent | 5,736 | 6,138 | 17,040 | 19,657 | 19,798 | 19,970 | 31,257 | 31,921 | 32,520 | 34,254 | ' |
Total assets | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Accounts payable | 105,311 | 81,577 | ' | 104,585 | 111,425 | 77,888 | 107,959 | ' | ' | ' | ' |
Accrued liabilities | 59,639 | 48,424 | 59,604 | 40,574 | 48,364 | 48,604 | 59,291 | 63,314 | 72,592 | 84,992 | ' |
Income tax payable | ' | ' | 58 | ' | 64 | 300 | ' | ' | 398 | 199 | ' |
Total current liabilities | 177,554 | 133,536 | 180,595 | 148,507 | 195,457 | 162,741 | 175,044 | 183,986 | 201,326 | 170,999 | ' |
Total liabilities | 601,366 | 550,494 | 610,727 | 605,174 | 498,419 | 466,080 | 507,408 | 521,497 | 567,463 | 509,252 | ' |
(Accumulated deficit)/Retained earnings | -43,948 | -48,153 | -55,654 | -66,686 | 82,711 | 68,718 | 45,128 | 37,845 | 27,644 | 13,586 | ' |
Total Global Brass and Copper Holdings, Inc. stockholder's (deficit)/equity | -12,716 | -51,351 | -58,499 | -69,309 | 93,247 | 79,492 | 56,382 | 49,347 | 39,907 | 25,564 | ' |
Total (deficit)/equity | -8,851 | -47,801 | -55,058 | -65,951 | 96,486 | 82,660 | 59,555 | 52,478 | 42,940 | 28,469 | 24,859 |
Total liabilities and (deficit)/equity | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, net of allowance | ' | ' | 210,654 | 192,326 | 202,756 | 160,731 | ' | ' | ' | ' | ' |
Inventories | ' | ' | ' | 180,815 | 173,538 | 186,370 | 163,880 | 169,137 | 202,745 | 192,898 | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' | ' | ' | 24,752 | 13,989 | 23,623 | 30,662 | ' |
Deferred income tax assets-current | ' | ' | 25,390 | 28,079 | 26,793 | 27,972 | 26,658 | 25,823 | 27,143 | 28,433 | ' |
Income tax receivable | ' | ' | 648 | 4,996 | 1,567 | 5,017 | 3,612 | 2,147 | 2,666 | 2,139 | ' |
Total current assets | ' | ' | 445,517 | 429,443 | 496,052 | 449,539 | 462,786 | 464,534 | 501,575 | 431,044 | ' |
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | 51,589 | 47,507 | 42,475 | ' | ' |
Deferred income tax assets-noncurrent | ' | ' | 17,350 | 19,917 | 20,092 | 20,218 | 31,903 | 32,450 | 32,867 | 34,354 | ' |
Total assets | ' | ' | 554,198 | 538,522 | 593,912 | 547,343 | 565,819 | 565,534 | 601,811 | 529,301 | ' |
Accounts payable | ' | ' | ' | 105,981 | 111,814 | 78,276 | 107,971 | ' | ' | ' | ' |
Accrued liabilities | ' | ' | 58,620 | 39,590 | 47,080 | 47,619 | 59,526 | 55,849 | 65,352 | 78,002 | ' |
Total current liabilities | ' | ' | 179,553 | 148,919 | 194,498 | 161,844 | 175,291 | 176,521 | 193,688 | 163,810 | ' |
Total liabilities | ' | ' | 609,685 | 605,586 | 497,460 | 465,183 | 507,655 | 514,032 | 559,825 | 502,063 | ' |
(Accumulated deficit)/Retained earnings | ' | ' | -56,083 | -67,799 | 82,677 | 68,218 | 43,737 | 36,869 | 26,691 | 12,355 | ' |
Total Global Brass and Copper Holdings, Inc. stockholder's (deficit)/equity | ' | ' | -58,928 | -70,422 | 93,213 | 78,992 | 54,991 | 48,371 | 38,954 | 24,333 | ' |
Total (deficit)/equity | ' | ' | -55,487 | -67,064 | 96,452 | 82,160 | 58,164 | 51,502 | 41,987 | 27,238 | ' |
Total liabilities and (deficit)/equity | ' | ' | 554,198 | 538,522 | 593,912 | 547,343 | 565,819 | 565,534 | 601,811 | 529,301 | ' |
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable, net of allowance | ' | ' | 984 | 984 | 984 | 984 | ' | ' | ' | ' | ' |
Inventories | ' | ' | ' | -811 | -861 | -423 | -388 | -402 | -230 | -275 | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' | ' | ' | 994 | 8,212 | 7,478 | 7,779 | ' |
Deferred income tax assets-current | ' | ' | 971 | 1,264 | 1,326 | 1,055 | 1,058 | 1,230 | 1,251 | 879 | ' |
Income tax receivable | ' | ' | -174 | -476 | -162 | 29 | -352 | -343 | 327 | 137 | ' |
Total current assets | ' | ' | 1,781 | 961 | 1,287 | 1,645 | 1,312 | 8,697 | 8,826 | 8,520 | ' |
Property, plant and equipment, net | ' | ' | ' | ' | ' | ' | 478 | 273 | 112 | ' | ' |
Deferred income tax assets-noncurrent | ' | ' | -310 | -260 | -294 | -248 | -646 | -529 | -347 | -100 | ' |
Total assets | ' | ' | 1,471 | 701 | 993 | 1,397 | 1,144 | 8,441 | 8,591 | 8,420 | ' |
Accounts payable | ' | ' | ' | -1,396 | -389 | -388 | -12 | ' | ' | ' | ' |
Accrued liabilities | ' | ' | 984 | 984 | 1,284 | 985 | -235 | 7,465 | 7,240 | 6,990 | ' |
Income tax payable | ' | ' | 58 | ' | 64 | 300 | ' | ' | 398 | 199 | ' |
Total current liabilities | ' | ' | 1,042 | -412 | 959 | 897 | -247 | 7,465 | 7,638 | 7,189 | ' |
Total liabilities | ' | ' | 1,042 | -412 | 959 | 897 | -247 | 7,465 | 7,638 | 7,189 | ' |
(Accumulated deficit)/Retained earnings | ' | ' | 429 | 1,113 | 34 | 500 | 1,391 | 976 | 953 | 1,231 | ' |
Total Global Brass and Copper Holdings, Inc. stockholder's (deficit)/equity | ' | ' | 429 | 1,113 | 34 | 500 | 1,391 | 976 | 953 | 1,231 | ' |
Total (deficit)/equity | ' | ' | 429 | 1,113 | 34 | 500 | 1,391 | 976 | 953 | 1,231 | ' |
Total liabilities and (deficit)/equity | ' | ' | $1,471 | $701 | $993 | $1,397 | $1,144 | $8,441 | $8,591 | $8,420 | ' |
Reconciliation_of_Activity_in_
Reconciliation of Activity in Allowance for Doubtful Accounts (Detail) (Allowance for Doubtful Accounts, Current [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Allowance for Doubtful Accounts, Current [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at beginning of period | $2,067 | $7,921 | $7,505 |
Provision for bad debts, net of reductions | -814 | -4,171 | 1,324 |
Write-offs, net of recoveries | ' | -1,683 | -908 |
Recoveries, net of write-offs | 155 | ' | ' |
Balance at end of period | $1,408 | $2,067 | $7,921 |
Property_Plant_and_Equipment_B
Property, Plant and Equipment Balances (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Building [Member] | Building [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Information Technology [Member] | Information Technology [Member] | Vehicles [Member] | Vehicles [Member] | Land and Land Improvements [Member] | Land and Land Improvements [Member] | Leasehold Improvements [Member] | Leasehold Improvements [Member] | Construction in Progress [Member] | Construction in Progress [Member] | ||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross property, plant and equipment | ' | $87,383 | $67,073 | ' | ' | ' | $9,077 | $8,489 | $55,175 | $42,715 | $4,477 | $2,462 | $2,521 | $1,403 | $1,726 | $1,598 | $1,083 | $127 | $13,324 | $10,279 |
Accumulated depreciation | ' | -16,256 | -9,517 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | $78,137 | $71,127 | $57,556 | $52,067 | $47,780 | $42,587 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Useful Life (in years) | ' | ' | ' | ' | ' | ' | '20 years | ' | '12 years | ' | '5 years | ' | '5 years | ' | ' | ' | ' | ' | ' | ' |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Capitalized interest costs | $0 | $557 | $0 |
Intangible_Assets_Other_Than_G
Intangible Assets Other Than Goodwill (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | Customer Relationships [Member] | Customer Relationships [Member] | Noncompete Agreements [Member] | Noncompete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Gross intangible assets | ' | $1,730 | $1,730 | $1,350 | $1,350 | $380 | $380 |
Accumulated amortization | ' | -891 | -779 | -511 | -407 | -380 | -372 |
Intangible assets, net | $762 | $839 | $951 | ' | ' | ' | ' |
Amortization Period (in years) | ' | ' | ' | '13 years | ' | '4 years | ' |
Amortization_Expense_Expected_
Amortization Expense Expected to be Incurred in Subsequent Years (Detail) (USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' |
2013 | $104 |
2014 | 104 |
2015 | 104 |
2016 | 104 |
2017 | 104 |
Thereafter | 319 |
Finite-Lived Intangible Assets, Net, Total | $839 |
Other_Non_Current_Assets_Addit
Other Non Current Assets - Additional Information (Detail) (USD $) | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||
Other Noncurrent Assets Disclosure [Line Items] | ' | ' |
Deferred debt issuance cost | $12,981 | ' |
Unamortized debt issuance cost | 1,783 | ' |
Unamortized issuance discount | 1,234 | 7,297 |
Senior Secured Notes [Member] | ' | ' |
Other Noncurrent Assets Disclosure [Line Items] | ' | ' |
Aggregate principal amount | 375,000 | ' |
Deferred debt issuance cost | 10,196 | ' |
ABL Facility [Member] | ' | ' |
Other Noncurrent Assets Disclosure [Line Items] | ' | ' |
Deferred debt issuance cost | $2,785 | ' |
Income_Taxes_Income_Before_Pro
Income Taxes - Income Before Provision for Income Taxes and Equity Income (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Domestic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $24,583 | $81,534 | $61,903 | |||||||
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,502 | 4,303 | 5,388 | |||||||
Income (loss) before provision for (benefit from) income taxes and equity income | $12,532 | $17,645 | [1] | ($21,063) | [1],[2] | $21,971 | [1] | $35,848 | [1] | $10,779 | [1] | $17,498 | [1] | $21,712 | [1] | $908 | $39,210 | $21,047 | $18,553 | $49,989 | $31,085 | $85,837 | $67,291 |
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | ||||||||||||||||||||||
[2] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Taxes (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Current tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,329 | $16,518 | $13,663 |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,923 | 3,347 | 5,660 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,685 | 1,081 | 1,312 |
Total current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,937 | 20,946 | 20,635 |
Deferred tax provision | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,389 | 10,209 | 5,760 |
State and local | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 571 | 188 | 372 |
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 288 | 94 | -91 |
Total deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | 691 | 2,273 | ' | 5,248 | 10,491 | 6,041 |
Total provision | $6,769 | ($971) | $8,198 | $12,613 | $3,726 | $7,258 | $7,840 | $7,227 | $15,098 | $17,762 | $13,996 | $18,824 | $19,185 | $31,437 | $26,676 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||||||||
Deferred tax assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Inventory | ' | $48,932 | ' | ' | ' | $50,936 | ' | ' | ' | ' |
Accruals and other reserves | ' | 7,721 | ' | ' | ' | 8,376 | ' | ' | ' | ' |
Financing fees | ' | ' | ' | ' | ' | 731 | ' | ' | ' | ' |
Accounts receivable | ' | 1,082 | ' | ' | ' | 939 | ' | ' | ' | ' |
UNICAP adjustment | ' | 1,278 | ' | ' | ' | 1,319 | ' | ' | ' | ' |
Derivative contracts | ' | 487 | ' | ' | ' | 1,104 | ' | ' | ' | ' |
Other | ' | 680 | ' | ' | ' | ' | ' | ' | ' | ' |
Gross deferred tax assets | ' | 60,180 | ' | ' | ' | 63,405 | ' | ' | ' | ' |
Deferred tax liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investments in foreign entities | ' | 7,310 | ' | ' | ' | 6,507 | ' | ' | ' | ' |
Fixed assets and intangibles | ' | 11,122 | ' | ' | ' | 7,139 | ' | ' | ' | ' |
Financing fees | ' | 2,145 | ' | ' | ' | ' | ' | ' | ' | ' |
Other | ' | ' | ' | ' | ' | 762 | ' | ' | ' | ' |
Gross deferred tax liability | ' | 20,577 | ' | ' | ' | 14,408 | ' | ' | ' | ' |
Net deferred tax asset | ' | 39,603 | ' | ' | ' | 48,997 | ' | ' | ' | ' |
Net current deferred tax asset | ' | 33,465 | ' | ' | ' | 29,027 | ' | ' | ' | ' |
Net long-term deferred tax asset | 5,736 | 6,138 | 17,040 | 19,657 | 19,798 | 19,970 | 31,257 | 31,921 | 32,520 | 34,254 |
Net deferred tax asset | ' | $39,603 | ' | ' | ' | $48,997 | ' | ' | ' | ' |
Reconciliation_of_Summary_of_A
Reconciliation of Summary of Activity of Company's Uncertain Tax Position (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Beginning Balance | $31,340 | $35,483 | $25,841 |
Additions for tax positions related to prior years | ' | 207 | ' |
Reductions for tax positions related to prior years | -1,963 | -4,350 | ' |
Reductions due to tax settlements | -1,515 | ' | ' |
Reductions due to tax statute of limitations | -461 | ' | ' |
Ending Balance | $27,401 | $31,340 | $25,841 |
Employee_Defined_Contribution_1
Employee Defined Contribution Plans and Multi Employer Pension Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Company contribution to retirement plan | $7,439 | $7,412 | $6,599 |
Multiemployer Plans, Pension [Member] | ' | ' | ' |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | ' | ' | ' |
Expenses incurred in change in benefit plan | 2,714 | 2,669 | 2,779 |
Multiemployer Plans [Line Items] | ' | ' | ' |
Company contribution to retirement plan | $350,359 | $332,430 | ' |
Employee_Defined_Contribution_2
Employee Defined Contribution Plans and Multi-Employer Pension Plans (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | |
Compensation And Retirement Disclosure [Abstract] | ' | ' | |
Pension Fund | 'IAM National Pension Fund | ' | |
EIN | '516031295 | ' | |
Pension Plan Number | '002 | ' | |
Pension Protection Act Zone Status (2011 and 2010) | 'Green | [1] | ' |
FIP/RP Status Pending/Implemented | 'No | ' | |
Company Contributions | $2,699 | $2,689 | |
Surcharge Imposed | 'No | ' | |
Expiration Date of Collective-BargainingAgreement | 3-Nov-13 | ' | |
[1] | Plans in the green zone are at least 80 percent funded. |
Employee_Defined_Contribution_3
Employee Defined Contribution Plans and Multi-Employer Pension Plans (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2012 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Green zone funded status | 'At least 80 percent |
Future_Minimum_Lease_Payments_
Future Minimum Lease Payments under Non-Cancelable Leases (Detail) (USD $) | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2013 | $2,654 |
2014 | 1,621 |
2015 | 956 |
2016 | 612 |
2017 | 122 |
Thereafter | ' |
Total minimum lease payments | $5,965 |
Segment_Information_Detail
Segment Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2011 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | $6,101 | $4,891 | ' | $6,934 | $4,759 | $2,971 |
LIFO liquidation gain/(loss) | 4,775 | 15,236 | ' | ' | ' | ' | ' | 4,775 | 15,236 | 21,009 |
Capital expenditure | ' | ' | 3,588 | 9,982 | 13,205 | 11,360 | 15,540 | 20,408 | 22,440 | 11,927 |
Olin Brass [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | 3,849 | 2,622 | 1,624 |
LIFO liquidation gain/(loss) | ' | ' | ' | ' | ' | ' | ' | 175 | 8,401 | 23,253 |
Capital expenditure | ' | ' | ' | ' | ' | ' | ' | 12,455 | 10,818 | 3,999 |
Chase [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | 2,521 | 1,921 | 1,200 |
LIFO liquidation gain/(loss) | ' | ' | ' | ' | ' | ' | ' | 1,623 | ' | 75 |
Capital expenditure | ' | ' | ' | ' | ' | ' | ' | 6,846 | 10,171 | 7,377 |
Oster [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | 247 | 196 | 147 |
LIFO liquidation gain/(loss) | ' | ' | ' | ' | ' | ' | ' | 4,478 | 7,050 | -48 |
Capital expenditure | ' | ' | ' | ' | ' | ' | ' | 558 | 505 | 551 |
Corporate and Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | 317 | 20 | ' |
LIFO liquidation gain/(loss) | ' | ' | ' | ' | ' | ' | ' | -1,501 | -215 | -2,271 |
Capital expenditure | ' | ' | ' | ' | ' | ' | ' | $549 | $946 | ' |
Summarized_Geographic_Informat
Summarized Geographic Information - Net Sales Attributable to Individual Countries (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | $1,345,678 | $1,254,347 | $1,650,520 | $1,779,143 | $1,658,729 |
UNITED STATES | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,556,865 | 1,691,007 | 1,567,472 | |||||||
Asia Pacific [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,668 | 54,638 | 62,358 | |||||||
MEXICO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $39,987 | $33,498 | $28,899 | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | ' | ' | $1,345,678 | $1,254,347 | ' | $1,650,520 | $1,779,143 | $1,658,729 | |
Gross profit | 41,714 | [2] | 44,397 | [1] | 47,121 | [1] | 49,954 | [1] | 63,336 | [1],[3] | 38,077 | [1] | 44,231 | [1] | 50,026 | [1] | 97,075 | 94,257 | 143,863 | 141,472 | 132,334 | 183,186 | 195,670 | 162,034 |
Income (loss) before provision for (benefit from) income taxes and equity income | 12,532 | 17,645 | [1] | -21,063 | [1],[4] | 21,971 | [1] | 35,848 | [1] | 10,779 | [1] | 17,498 | [1] | 21,712 | [1] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |
Net income (loss) | 7,602 | 11,137 | [1] | -19,891 | [1] | 14,047 | [1] | 23,570 | [1] | 7,280 | [1] | 10,268 | [1] | 14,170 | [1] | -5,844 | 24,438 | 4,433 | 5,293 | 31,718 | 12,895 | 55,288 | 42,145 | |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. | $7,501 | $11,032 | [1] | ($20,005) | [1] | $13,993 | [1] | $23,590 | [1] | $7,283 | [1] | $10,201 | [1] | $14,058 | [1] | ($6,012) | $24,259 | $4,205 | $5,020 | $31,542 | $12,521 | $55,132 | $41,633 | |
Net income (loss) attributable to Global Brass and Copper Holdings, Inc. per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Basic | $0.36 | $0.52 | [1] | ($0.95) | [1] | $0.66 | [1] | $1.12 | [1] | $0.35 | [1] | $0.48 | [1] | $0.67 | [1] | ($0.28) | $1.15 | $0.20 | $0.24 | $1.49 | $0.59 | $2.61 | $1.97 | |
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||
[2] | Includes $4,775 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[3] | Includes $15,236 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Quarterly_Financial_Informatio3
Quarterly Financial Information (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on debt extinguishment | ' | ($19,612) | ' | ' | ($19,612) | ($19,612) | ' | ' |
Profits interest compensation expense | ' | 19,517 | ' | 29,271 | 19,517 | 19,517 | 885 | 3,452 |
Gain from liquidation of LIFO inventory layers | $4,775 | ' | $15,236 | ' | ' | $4,775 | $15,236 | $21,009 |
Basis_of_Presentation_and_Prin2
Basis of Presentation and Principles of Consolidation - Summary of Revisions to Consolidated Statement of Cash Flows (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Mar. 31, 2011 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by operating activities | ($22,382) | $32,701 | $4,532 | $58,252 | $44,845 | $81,914 | $64,848 | $69,414 |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | -3,588 | -9,982 | -13,205 | -11,360 | -15,540 | -20,408 | -22,440 | -11,927 |
Net cash used in investing activities | -3,588 | -9,956 | -13,031 | -11,335 | -15,470 | -20,376 | -22,343 | -11,888 |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by operating activities | -22,494 | 32,428 | ' | ' | 44,367 | ' | ' | ' |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | -3,476 | -9,709 | ' | ' | -15,062 | ' | ' | ' |
Net cash used in investing activities | -3,476 | -9,683 | ' | ' | -14,992 | ' | ' | ' |
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash provided by operating activities | 112 | 273 | ' | ' | 478 | ' | ' | ' |
Cash flows from investing activities: | ' | ' | ' | ' | ' | ' | ' | ' |
Capital expenditures | -112 | -273 | ' | ' | -478 | ' | ' | ' |
Net cash used in investing activities | ($112) | ($273) | ' | ' | ($478) | ' | ' | ' |
Condensed_Balance_Sheets_Paren
Condensed Balance Sheets (Parent Company Only) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2010 | Jan. 01, 2010 |
In Thousands, unless otherwise specified | |||||||||||
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | $18,088 | $13,862 | $13,018 | ' | ' | $49,537 | ' | ' | ' | $15,523 | $7,832 |
Total current assets | 484,677 | 399,463 | 447,298 | 430,404 | 497,339 | 451,184 | 464,098 | 473,231 | 510,401 | 439,564 | ' |
Investment in subsidiary | 2,184 | 2,972 | ' | ' | ' | 3,507 | ' | ' | ' | ' | ' |
Total assets | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 105,311 | 81,577 | ' | 104,585 | 111,425 | 77,888 | 107,959 | ' | ' | ' | ' |
Total current liabilities | 177,554 | 133,536 | 180,595 | 148,507 | 195,457 | 162,741 | 175,044 | 183,986 | 201,326 | 170,999 | ' |
Total liabilities | 601,366 | 550,494 | 610,727 | 605,174 | 498,419 | 466,080 | 507,408 | 521,497 | 567,463 | 509,252 | ' |
Stockholder's (deficit)/equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock-$.01 par value; 80,000,000 shares authorized; 21,110,000 shares issued and outstanding at December 31, 2012 and 2011 | 211 | 211 | ' | ' | ' | 211 | ' | ' | ' | ' | ' |
Additional paid-in capital | 30,260 | ' | ' | ' | ' | 11,091 | ' | ' | ' | ' | ' |
(Accumulated deficit)/Retained earnings | -43,948 | -48,153 | -55,654 | -66,686 | 82,711 | 68,718 | 45,128 | 37,845 | 27,644 | 13,586 | ' |
Accumulated other comprehensive income | 761 | 1,466 | ' | ' | ' | 1,923 | ' | ' | ' | ' | ' |
Receivable from stockholder | ' | 4,875 | ' | ' | ' | 2,451 | ' | ' | ' | ' | ' |
Total stockholder's (deficit)/equity | -12,716 | -51,351 | -58,499 | -69,309 | 93,247 | 79,492 | 56,382 | 49,347 | 39,907 | 25,564 | ' |
Total liabilities and stockholder's (deficit)/equity | 592,515 | 502,693 | 555,669 | 539,223 | 594,905 | 548,740 | 566,963 | 573,975 | 610,402 | 537,721 | ' |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in subsidiary | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Total assets | ' | ' | ' | ' | ' | 85,020 | ' | ' | ' | ' | ' |
Current liabilities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payable to subsidiary | ' | 8,829 | ' | ' | ' | 5,528 | ' | ' | ' | ' | ' |
Obligations and advances in excess of investment in subsidiary | ' | 42,522 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities | 12,716 | 51,351 | ' | ' | ' | 5,528 | ' | ' | ' | ' | ' |
Stockholder's (deficit)/equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock-$.01 par value; 80,000,000 shares authorized; 21,110,000 shares issued and outstanding at December 31, 2012 and 2011 | ' | 211 | ' | ' | ' | 211 | ' | ' | ' | ' | ' |
Additional paid-in capital | ' | ' | ' | ' | ' | 11,091 | ' | ' | ' | ' | ' |
(Accumulated deficit)/Retained earnings | ' | -48,153 | ' | ' | ' | 68,718 | ' | ' | ' | ' | ' |
Accumulated other comprehensive income | ' | 1,466 | ' | ' | ' | 1,923 | ' | ' | ' | ' | ' |
Receivable from stockholder | ' | -4,875 | ' | ' | ' | -2,451 | ' | ' | ' | ' | ' |
Total stockholder's (deficit)/equity | -12,716 | -51,351 | ' | ' | ' | 79,492 | ' | ' | ' | ' | ' |
Total liabilities and stockholder's (deficit)/equity | ' | ' | ' | ' | ' | $85,020 | ' | ' | ' | ' | ' |
Condensed_Balance_Sheets_Paren1
Condensed Balance Sheets (Parent Company Only) (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 80,000,000 | 80,000,000 | 80,000,000 |
Common stock, shares issued | 21,110,000 | 21,110,000 | 21,110,000 |
Common stock, shares outstanding | 21,110,000 | 21,110,000 | 21,110,000 |
Parent [Member] | ' | ' | ' |
Condensed Balance Sheet Statements, Captions [Line Items] | ' | ' | ' |
Common stock, par value | ' | $0.01 | $0.01 |
Common stock, shares authorized | ' | 80,000,000 | 80,000,000 |
Common stock, shares issued | ' | 21,110,000 | 21,110,000 |
Common stock, shares outstanding | ' | 21,110,000 | 21,110,000 |
Condensed_Statements_of_Operat
Condensed Statements of Operations (Parent Company Only) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | $396,173 | $393,977 | [1] | $416,979 | [1] | $443,391 | [1] | $373,477 | [1] | $439,500 | [1] | $473,251 | [1] | $492,915 | [1] | ' | ' | $1,345,678 | $1,254,347 | ' | $1,650,520 | $1,779,143 | $1,658,729 | |
Cost of sales | ' | 349,580 | 369,858 | 393,437 | 310,141 | 401,423 | 429,020 | 442,889 | 763,295 | 871,909 | 1,201,815 | 1,112,875 | 1,273,332 | 1,467,334 | 1,583,473 | 1,496,695 | ||||||||
Gross profit | 41,714 | [2] | 44,397 | [1] | 47,121 | [1] | 49,954 | [1] | 63,336 | [1],[3] | 38,077 | [1] | 44,231 | [1] | 50,026 | [1] | 97,075 | 94,257 | 143,863 | 141,472 | 132,334 | 183,186 | 195,670 | 162,034 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92,622 | 73,241 | ' | 92,641 | 69,391 | 68,857 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | 12,532 | 17,645 | [1] | -21,063 | [1],[4] | 21,971 | [1] | 35,848 | [1] | 10,779 | [1] | 17,498 | [1] | 21,712 | [1] | 908 | 39,210 | 21,047 | 18,553 | 49,989 | 31,085 | 85,837 | 67,291 | |
Benefit from income taxes | ' | 6,769 | -971 | 8,198 | 12,613 | 3,726 | 7,258 | 7,840 | 7,227 | 15,098 | 17,762 | 13,996 | 18,824 | 19,185 | 31,437 | 26,676 | ||||||||
Loss before equity income | ' | 10,876 | -20,092 | 13,773 | 23,235 | 7,053 | 10,240 | 13,872 | -6,319 | 24,112 | 3,285 | 4,557 | 31,165 | 11,900 | 54,400 | 40,615 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,148 | 736 | ' | 995 | 888 | 1,530 | ||||||||
Net income | 7,602 | 11,137 | [1] | -19,891 | [1] | 14,047 | [1] | 23,570 | [1] | 7,280 | [1] | 10,268 | [1] | 14,170 | [1] | -5,844 | 24,438 | 4,433 | 5,293 | 31,718 | 12,895 | 55,288 | 42,145 | |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Cost of sales | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,390 | 1,086 | ' | 1,427 | 1,650 | 1,102 | ||||||||
Income (loss) before provision for (benefit from) income taxes and equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5,390 | -1,086 | ' | -1,427 | -1,650 | -1,102 | ||||||||
Benefit from income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,075 | -418 | ' | -550 | -635 | -424 | ||||||||
Loss before equity income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,315 | -668 | ' | -877 | -1,015 | -678 | ||||||||
Equity income, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,520 | 5,688 | ' | 13,398 | 56,147 | 42,311 | ||||||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,205 | $5,020 | ' | $12,521 | $55,132 | $41,633 | ||||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". | |||||||||||||||||||||||
[2] | Includes $4,775 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[3] | Includes $15,236 gain from liquidation of LIFO inventory layers. | |||||||||||||||||||||||
[4] | Includes $19,612 loss on debt extinguishment and $19,517 profits interest compensation expense. |
Condensed_Statements_of_Compre
Condensed Statements of Comprehensive Income (Parent Company Only) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Jun. 30, 2012 | Jun. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |||||||
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income | $7,602 | $11,137 | [1] | ($19,891) | [1] | $14,047 | [1] | $23,570 | [1] | $7,280 | [1] | $10,268 | [1] | $14,170 | [1] | ($5,844) | $24,438 | $4,433 | $5,293 | $31,718 | $12,895 | $55,288 | $42,145 |
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -618 | -130 | ' | -449 | 469 | 513 | |||||||
Comprehensive income | ' | 11,130 | -20,034 | 14,067 | 23,419 | 7,370 | 10,475 | 14,493 | -5,967 | 24,968 | 3,815 | 5,163 | 32,338 | 12,446 | 55,757 | 42,658 | |||||||
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Condensed Financial Information Of Parent Company Only Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||
Net income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,205 | 5,020 | ' | 12,521 | 55,132 | 41,633 | |||||||
Foreign currency translation adjustment, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -705 | -130 | ' | -457 | 362 | 442 | |||||||
Comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,500 | $4,890 | ' | $12,064 | $55,494 | $42,075 | |||||||
[1] | The above data have been adjusted for prior period revisions discussed in note 2, "Summary of Significant Accounting Policies" and as illustrated in note 22, "Revision of Prior Period Financial Statements (Unaudited)". |
Condensed_Statements_of_Cash_F
Condensed Statements of Cash Flows (Parent Company Only) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash provided by operating activities | $4,532 | $58,252 | $81,914 | $64,848 | $69,414 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Net cash provided by investing activities | -13,031 | -11,335 | -20,376 | -22,343 | -11,888 |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Distributions to stockholder | ' | -160,000 | -160,000 | ' | -42,500 |
Amounts due from stockholder | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Net cash used in financing activities | 12,853 | -82,754 | -96,758 | -8,342 | -49,610 |
Net increase (decrease) in cash | 4,226 | -36,519 | -35,675 | 34,014 | 7,691 |
Cash at beginning of period | 13,862 | 49,537 | 49,537 | 15,523 | 7,832 |
Cash at end of period | 18,088 | 13,018 | 13,862 | 49,537 | 15,523 |
Parent [Member] | ' | ' | ' | ' | ' |
Condensed Cash Flow Statements, Captions [Line Items] | ' | ' | ' | ' | ' |
Net cash provided by operating activities | ' | 73,624 | 73,624 | ' | 42,500 |
Cash flows from investing activities | ' | ' | ' | ' | ' |
Capital distributions from subsidiary | ' | 86,376 | 86,376 | ' | ' |
Payable to subsidiary | -4,875 | 2,398 | 2,424 | 2,451 | ' |
Net cash provided by investing activities | -4,875 | 88,774 | 88,800 | 2,451 | ' |
Cash flows from financing activities | ' | ' | ' | ' | ' |
Distributions to stockholder | ' | -160,000 | -160,000 | ' | -42,500 |
Amounts due from stockholder | 4,875 | -2,398 | -2,424 | -2,451 | ' |
Net cash used in financing activities | 4,875 | -162,398 | -162,424 | -2,451 | -42,500 |
Net increase (decrease) in cash | ' | ' | ' | ' | ' |
Cash at beginning of period | ' | ' | ' | ' | ' |
Cash at end of period | ' | ' | ' | ' | ' |
Condensed_Financial_Informatio
Condensed Financial Information of Registrant - Basis of Presentation - Additional Information (Detail) | 1 Months Ended | 12 Months Ended |
Jun. 30, 2012 | Dec. 31, 2012 | |
Parent Company Only Financial Information [Line Items] | ' | ' |
Restricted net asset percentage | ' | 25.00% |
Senior Secured Notes [Member] | ' | ' |
Parent Company Only Financial Information [Line Items] | ' | ' |
Ownership percentage of equity holdings | 100.00% | 100.00% |
Condensed_Financial_Informatio1
Condensed Financial Information of Registrant - Guarantees - Additional Information (Detail) (ABL Facility [Member]) | 1 Months Ended | 12 Months Ended |
Jun. 30, 2013 | Dec. 31, 2012 | |
ABL Facility [Member] | ' | ' |
Parent Company Only Financial Information [Line Items] | ' | ' |
Ownership percentage of equity holdings | 100.00% | 100.00% |
Condensed_Financial_Informatio2
Condensed Financial Information of Registrant - Distributions from Subsidiary - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 01, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2010 |
Parent Company Only Financial Information [Line Items] | ' | ' | ' | ' |
Cash distributions received | $160,000 | $160,000 | $160,000 | $42,500 |
Return on Capital [Member] | ' | ' | ' | ' |
Parent Company Only Financial Information [Line Items] | ' | ' | ' | ' |
Cash distributions received | ' | ' | 73,624 | 42,500 |
Return of Capital [Member] | ' | ' | ' | ' |
Parent Company Only Financial Information [Line Items] | ' | ' | ' | ' |
Cash distributions received | ' | ' | $86,376 | ' |