ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) August 29, 2003 ATCHISON AMITE MILWAUKEE EMPIRE PENNSYLVANIA CASTING FOUNDRY & PROSPECT QUAKER IMPELLER STEEL LaGRANGE STEEL FOUNDRY ASSETS CORPORATION MACHINE, INC. FOUNDRY, INC. ALLOY, INC. CASTINGS, INC. CASTINGS, INC. FOUNDRY, INC. & MACHINE CO. - -------------------------------- ------------------------------------------------------------------------------------------------------------------------------- CASH $2,964 $0 $0 $1 $0 $2 $0 $0 TRADE RECEIVABLES 6,454 1,294 1,599 1,701 0 131 0 0 OTHER RECEIVABLES 315 26 0 0 0 12 0 0 LESS ALLOWANCES (100) (7) (25) (94) 0 (18) 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET ACCOUNT RECEIVABLES 6,669 1,313 1,574 1,607 0 125 0 0 GROSS INVENTORY 7,864 1,914 788 438 0 3,039 0 0 LIFO RESERVE (760) 0 0 0 0 0 0 0 VALUATION RESERVE (85) 0 (42) 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET INVENTORY 7,019 1,914 746 438 0 3,039 0 0 DEFERRED INCOME TAXES (7,932) 0 0 0 0 0 0 0 OTHER CURRENT ASSETS 1,543 371 215 275 0 116 0 5 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL CURRENT ASSETS 10,263 3,598 2,535 2,321 0 3,282 0 5 PROPERTY, PLANT, & EQUIPMENT 54,646 19,060 15,186 7,446 0 3,412 0 0 ALLOWANCE FOR DEPRECIATION (34,052) (10,706) (10,939) (3,592) 0 (2,762) 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET PROPERTY 20,594 8,354 4,247 3,854 0 650 0 0 OTHER ASSETS - INTANGIBLES 0 0 0 0 0 0 0 0 ACCUMULATED AMORTIZATION 0 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET INTANGIBLES 0 0 0 0 0 0 0 0 INVESTMENT IN SUBSIDIARIES 76,259 0 0 0 0 0 0 0 DEFERRED CHARGES 0 0 0 0 0 0 0 0 ACCUMULATED AMORTIZATION 0 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET DEFERRED CHARGES 0 0 0 0 0 0 0 0 OTHER ASSETS 2,097 0 0 0 670 186 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL ASSETS $109,213 $11,952 $6,782 $6,175 $670 $4,118 $0 $5 ============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) August 29, 2003 SPRINGFIELD INVERNESS NON - IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR ASSETS CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES ELIMINATIONS CONSOLIDATED - -------------------------------------------------------------------------------------------------------------------------------------------------------- CASH $0 $0 $26 $0 $0 $0 $0 $2,993 TRADE RECEIVABLES 0 0 5,939 387 0 3,997 0 21,502 OTHER RECEIVABLES 0 0 46 0 0 22 0 421 LESS ALLOWANCES 0 0 (169) 0 0 (36) 0 (449) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET ACCOUNT RECEIVABLES 0 0 5,816 387 0 3,983 0 21,474 GROSS INVENTORY 0 0 2,566 0 0 2,333 0 18,942 LIFO RESERVE 0 0 (76) 0 0 0 0 (836) VALUATION RESERVE 0 0 0 0 0 (209) 0 (336) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET INVENTORY 0 0 2,490 0 0 2,124 0 17,770 DEFERRED INCOME TAXES 0 0 0 0 0 97 0 (7,835) OTHER CURRENT ASSETS 0 0 1,716 3 0 275 0 4,519 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL CURRENT ASSETS 0 0 10,048 390 0 6,479 0 38,921 PROPERTY, PLANT, & EQUIPMENT 0 0 14,167 0 0 13,443 0 127,360 ALLOWANCE FOR DEPRECIATION 0 0 (5,436) 0 0 (4,636) 0 (72,123) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET PROPERTY 0 0 8,731 0 0 8,807 0 55,237 OTHER ASSETS - INTANGIBLES 0 0 0 0 0 9,285 0 9,285 ACCUMULATED AMORTIZATION 0 0 0 0 0 (7,513) 0 (7,513) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET INTANGIBLES 0 0 0 0 0 1,772 0 1,772 INVESTMENT IN SUBSIDIARIES 0 0 0 0 0 0 (76,259) 0 DEFERRED CHARGES 0 0 0 0 0 0 0 0 ACCUMMULATED AMORTIZATION 0 0 0 0 0 0 0 0 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET DEFERRED CHARGES 0 0 0 0 0 0 0 0 OTHER ASSETS 66 0 0 0 0 250 0 3,269 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL ASSETS $66 $0 $18,779 $390 $0 $17,308 ($76,259) $99,199 ============= ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) August 29, 2003 ATCHISON AMITE MILWAUKEE EMPIRE PENNSYLVANIA CASTING FOUNDRY & PROSPECT QUAKER IMPELLER STEEL LaGRANGE STEEL FOUNDRY LIABILITIES & NET WORTH CORPORATION MACHINE, INC. FOUNDRY, INC. ALLOY, INC. CASTINGS, INC. CASTINGS, INC. FOUNDRY, INC. & MACHINE CO. - ------------------------------------------------------------------------------------------------------------------------------------------------------------ ACCOUNT PAYABLE $7,892 $1,650 $1,420 $1,647 $0 $158 $38 $0 ACCRUED EXPENSES 16,128 658 1,703 (715) 680 3,959 1,094 426 CURRENT PORTION - LONG TERM DEBT 10,387 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL CURRENT LIABILITIES 34,407 2,308 3,123 932 680 4,117 1,132 426 LONG TERM LOAN 73,132 0 0 0 0 0 0 0 LONG TERM LOAN - INTRACOMPANY (11,493) 11,950 (10,617) 18,211 8,166 7,643 2,592 (421) ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LOANS 61,639 11,950 (10,617) 18,211 8,166 7,643 2,592 (421) EXCESS ASSETS OVER COST 0 0 0 0 0 0 0 0 ACCUMULATED AMORTIZATION 0 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET EXCESS ASSETS OVER COST 0 0 0 0 0 0 0 0 DEFERRED TAXES 1,251 0 0 0 0 0 0 0 OTHER LONG TERM LIABILITIES 841 40 0 0 0 0 0 0 LONG TERM PENSION 7,437 0 0 0 0 1,981 0 0 POST RETIREMENT OBLIGATION OTHER THAN PENSION 5,721 0 0 0 0 467 0 0 MINORITY INTEREST IN SUBSIDIARY 187 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LIABILITIES 111,483 14,298 (7,494) 19,143 8,846 14,208 3,724 5 CAPITAL STOCK 62,558 12,000 6,678 1,894 3,269 1,400 3,000 0 RETAINED EARNINGS (64,828) (14,346) 7,598 (14,862) (11,445) (11,490) (6,724) 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET WORTH (2,270) (2,346) 14,276 (12,968) (8,176) (10,090) (3,724) 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LIABILITIES & NET WORTH $109,213 $11,952 $6,782 $6,175 $670 $4,118 $0 $5 ============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) August 29, 2003 SPRINGFIELD INVERNESS NON - IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR LIABILITIES & NET WORTH CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES ELIMINATIONS CONSOLIDATED - ----------------------------------------------------------------------------------------------------------------------------------------------------------- ACCOUNTS PAYABLE $0 $0 $4,665 $355 $0 $2,060 $0 19,885 ACCRUED EXPENSES 0 0 1,260 11 0 1,618 0 26,822 CURRENT PORTION - LONG TERM DEBT 0 0 0 0 0 0 10,387 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL CURRENT LIABILITIES 0 0 5,925 366 0 3,678 0 57,094 ============= ============= ============== ============= ============= ============= ============= ============= LONG TERM LOAN 0 0 0 0 0 0 0 73,132 LONG TERM LOAN - INTRACOMPANY 66 0 11,118 74 0 (408) (36,881) 0 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LOANS 66 0 11,118 74 0 (408) (36,881) 73,132 EXCESS ASSETS OVER COST 0 0 0 0 0 0 0 0 ACCUMULATED AMORTIZATION 0 0 0 0 0 0 0 0 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET EXCESS ASSETS OVER COST 0 0 0 0 0 0 0 0 DEFERRED TAXES 0 0 0 0 0 1,910 0 3,161 OTHER LONG TERM LIABILITIES 0 0 206 0 0 (7) 0 1,080 LONG TERM PENSION 0 0 0 0 0 0 0 9,418 POST RETIREMENT OBLIGATION OTHER THAN PENSION 0 0 3,502 0 0 0 0 9,690 MINORITY INTEREST IN SUBSIDIARY 0 0 68 0 0 0 0 255 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LIABILITIES 66 0 20,819 440 0 5,173 (36,881) 153,830 CAPITAL STOCK 0 0 2,216 100 0 8,821 (39,378) 62,558 RETAINED EARNINGS 0 0 (4,256) (150) 0 3,314 0 (117,189) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET WORTH 0 0 (2,040) (50) 0 12,135 (39,378) (54,631) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LIABILITIES & NET WORTH $66 $0 $18,779 $390 $0 $17,308 ($76,259) $99,199 ============= ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION INCOME STATEMENT (US $ IN 000s) FOR THE MONTH ENDED AUGUST 29, 2003 ATCHISON AMITE MILWAUKEE EMPIRE PENNSYLVANIA CASTING FOUNDRY & PROSPECT QUAKER IMPELLER STEEL LaGRANGE STEEL FOUNDRY CORPORATION MACHINE, INC. FOUNDRY, INC. ALLOY, INC. CASTINGS, INC. CASTINGS, INC. FOUNDRY, INC. & MACHINE CO. --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- SALES $4,321 $1,017 $1,092 $798 $0 $352 $0 $0 COST OF SALES : MATERIAL (1,576) (162) (194) (4) 0 (2) 0 0 LABOR (426) (112) (298) (54) 0 (24) 0 0 BURDEN (2,030) (740) (405) (816) 0 (482) 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- TOTAL STANDARD COST OF SALES (4,032) (1,014) (897) (874) 0 (508) 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- STANDARD GROSS MARGIN 289 3 195 (76) 0 (156) 0 0 MANUFACTURING VARIANCE (450) 0 0 0 0 0 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- TOTAL COST OF SALES (4,482) (1,014) (897) (874) 0 (508) 0 0 GROSS PROFIT (LOSS) (161) 3 195 (76) 0 (156) 0 0 GENERAL & ADMINISTRATIVE (1,519) (57) (120) (50) (3) (12) (72) 0 SALES & MARKETING (46) (18) (24) (3) 0 (2) 0 0 NEW PRODDUCT DEVELOPMENT 0 0 0 0 0 0 0 0 AMORTIZATION OF INTANGIBLES 0 0 0 0 0 0 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- NET OPERATING PROFIT (LOSS) (1,726) (72) 51 (129) (3) (170) (72) 0 OTHER INCOME (EXPENSE) (46,925) 1 0 0 0 0 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- EARNINGS BEFORE INTEREST AND TAXES (48,651) (71) 51 (129) (3) (170) (72) 0 INTEREST EXPENSE - DEFERRED FINANCING 0 0 0 0 0 0 0 0 INTEREST EXPENSE 233 (87) 80 (136) 0 0 0 0 MINORITY INTEREST (15) 0 0 0 0 0 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- NET INCOME (LOSS) BEFORE TAX (48,433) (158) 131 (265) (3) (170) (72) 0 PROVISION FOR INCOME TAX (773) 54 (52) 79 0 51 0 0 --------------- --------------- --------------- --------------- -------------- -------------- -------------- -------------- NET INCOME (LOSS) ($49,206) ($104) $79 ($186) ($3) ($119) ($72) $0 =============== =============== =============== =============== ============== ============== ============== ==============
ATCHISON CASTING CORPORATION AND SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION INCOME STATEMENT (US $ IN 000s) FOR THE MONTH ENDED AUGUST 29, 2003 SPRINGFIELD INVERNESS NON - IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES ELIMINATIONS CONSOLIDATED -------------- -------------- -------------- -------------- -------------- -------------- -------------- ------------- SALES $0 $0 $3,078 ($16) $0 $2,811 ($41) $13,412 COST OF SALES: MATERIAL 0 0 (1,286) 0 0 (847) 0 (4,071) LABOR 0 0 (99) 0 0 (317) 0 (1,330) BURDEN 0 0 (1,483) 12 0 (1,726) 41 (7,629) -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- TOTAL STANDARD COST OF SALES 0 0 (2,868) 12 0 (2,890) 41 (13,030) -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- STANDARD GROSS MARGIN 0 0 210 (4) 0 (79) 0 382 MANUFACTURING VARIANCE 0 0 (4) 0 0 0 0 (454) -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- TOTAL COST OF SALES 0 0 (2,872) 12 0 (2,890) 41 (13,484) GROSS PROFIT (LOSS) 0 0 206 (4) 0 (79) 0 (72) GENERAL & ADMINISTRATIVE 0 0 (1,595) (9) 0 (125) 0 (3,562) SALES & MARKETING 0 0 (58) 0 0 (101) 0 (252) NEW PRODUCT DEVELOPMENT 0 0 0 0 0 0 0 - AMORTIZATION OF INTANGIBLES 0 0 0 0 0 0 0 - -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- NET OPERATING PROFIT (LOSS) 0 0 (1,447) (13) 0 (305) 0 (3,886) OTHER INCOME (EXPENSE) 0 0 0 0 0 (29) 0 (46,953) -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- EARNINGS BEFORE INTEREST AND TAXES 0 0 (1,447) (13) 0 (334) 0 (50,839) INTEREST EXPENSE - DEFERRED FINANCING 0 0 0 0 0 0 0 - INTEREST EXPENSE 0 0 (68) (1) 0 (22) 0 (1) MINORITY INTEREST 0 0 28 0 0 0 0 13 -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- NET INCOME (LOSS) BEFORE TAX 0 0 (1,487) (14) 0 (356) 0 (50,827) PROVISION FOR INCOME TAX 0 0 579 0 0 119 0 57 -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- NET INCOME (LOSS) $0 $0 ($908) ($14) $0 ($237) $0 ($50,770) ============== ============== ============== ============== ============== ============== ============== ==============