ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) September 30, 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 $3,986 $0 $0 $1 $0 $1 $0 $0 TRADE RECEIVABLES 6,885 1,368 1,807 1,187 0 120 0 0 OTHER RECEIVABLES 315 0 0 0 0 12 0 0 LESS ALLOWANCES (125) (2) (25) (90) 0 (18) 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET ACCOUNT RECEIVABLES 7,075 1,366 1,782 1,097 0 114 0 0 GROSS INVENTORY 8,154 1,822 657 432 0 2,968 0 0 LIFO RESERVE (770) 0 0 0 0 0 0 0 VALUATION RESERVE (105) 0 (42) 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET INVENTORY 7,279 1,822 615 432 0 2,968 0 0 DEFERRED INCOME TAXES (7,932) 0 0 0 0 0 0 0 OTHER CURRENT ASSETS 1,478 413 194 251 0 104 0 4 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL CURRENT ASSETS 11,886 3,601 2,591 1,781 0 3,187 0 4 PROPERTY, PLANT, & EQUIPMENT 54,735 19,060 15,186 7,446 0 3,412 0 0 ALLOWANCE FOR DEPRECIATION (34,320) (10,803) (11,014) (3,633) 0 (2,773) 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET PROPERTY, PLANT & EQUIPMENT 20,415 8,257 4,172 3,813 0 639 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 2,580 0 0 0 656 186 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL ASSETS $111,140 $11,858 $6,763 $5,594 $656 $4,012 $0 $4 ============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) September 30, 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 $17 $0 $0 $0 $0 $4,005 TRADE RECEIVABLES 0 0 5,231 403 0 3,122 0 20,123 OTHER RECEIVABLES 0 0 2 0 0 32 0 361 LESS ALLOWANCES 0 0 (183) 0 0 (37) 0 (480) ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET ACCOUNT RECEIVABLES 0 0 5,050 403 0 3,117 0 20,004 GROSS INVENTORY 0 0 2,130 0 0 2,478 0 18,641 LIFO RESERVE 0 0 (76) 0 0 0 0 (846) VALUATION RESERVE 0 0 0 0 0 (215) 0 (362) ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET INVENTORY 0 0 2,054 0 0 2,263 0 17,433 DEFERRED INCOME TAXES 0 0 0 0 0 100 0 (7,832) OTHER CURRENT ASSETS 0 0 1,819 3 0 208 0 4,474 ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL CURRENT ASSETS 0 0 8,940 406 0 5,688 0 38,084 PROPERTY, PLANT, & EQUIPMENT 0 0 14,167 0 0 13,872 0 127,878 ALLOWANCE FOR DEPRECIATION 0 0 (5,485) 0 0 (4,855) 0 (72,883) ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET PROPERTY, PLANT, & EQUIPMENT 0 0 8,682 0 0 9,017 0 54,995 OTHER ASSETS - INTANGIBLES 0 0 0 0 0 9,574 0 9,574 ACCUMULATED AMORTIZATION 0 0 0 0 0 (7,747) 0 (7,747) ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET INTANGIBLES 0 0 0 0 0 1,827 0 1,827 INVESTMENT IN SUBSIDIARIES 0 0 0 0 0 0 (76,259) 0 DEFERRED CHARGES 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 66 0 0 0 0 258 0 ------------ ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL ASSETS $66 $0 $17,622 $406 $0 $16,790 ($76,259) $ 98,652 ============ ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) September 30, 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. - -------------------------------- ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- ACCOUNTS PAYABLE $8,289 $1,610 $1,515 $1,572 $0 $149 $38 $0 ACCRUED EXPENSES 16,974 731 1,703 (767) 648 3,823 1,091 566 CURRENT PORTION - LONG TERM DEBT 9,849 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL CURRENT LIABILITIES 35,112 2,341 3,218 805 648 3,972 1,129 566 LONG TERM LOAN 73,132 0 0 0 0 0 0 0 LONG TERM LOAN - INTRACOMPANY (9,913) 11,888 (10,789) 17,817 8,205 7,689 2,644 (562) ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LOANS 63,219 11,888 (10,789) 17,817 8,205 7,689 2,644 (562) 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 2,024 0 0 POST RETIREMENT OBLIGATION OTHER THAN PENSION 5,748 0 0 0 0 465 0 0 MINORITY INTEREST IN SUBSIDIARY 188 0 0 0 0 0 0 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LIABILITIES 113,796 14,269 (7,571) 18,622 8,853 14,150 3,773 4 CAPITAL STOCK 62,982 12,000 6,678 1,894 3,269 1,400 3,000 0 RETAINED EARNINGS (65,638) (14,411) 7,656 (14,922) (11,466) (11,538) (6,773) 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- NET WORTH (2,656) (2,411) 14,334 (13,028) (8,197) (10,138) (3,773) 0 ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- TOTAL LIABILITIES & NET WORTH $111,140 $11,858 $6,763 $5,594 $656 $4,012 $0 $4 ============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION CONSOLIDATING BALANCE SHEET (US $ IN 000s) September 30, 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 $4,672 $216 $0 $1,945 $0 20,006 ACCRUED EXPENSES 0 0 1,020 186 0 1,448 0 27,423 CURRENT PORTION - LONG TERM DEBT 0 0 0 0 0 0 9,849 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL CURRENT LIABILITIES 0 0 5,692 402 0 3,393 0 57,278 LONG TERM LOAN 0 0 0 0 0 0 0 73,132 LONG TERM LOAN - INTRACOMPANY 66 0 10,322 86 0 (948) (36,505) 0 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LOANS 66 0 10,322 86 0 (948) (36,505) 73,132 EXCESS ASSETS OVER COST 0 0 0 0 0 0 0 0 ACCUMMULATED 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 1,962 0 3,213 OTHER LONG TERM LIABILITIES 0 0 206 0 0 0 0 1,087 LONG TERM PENSION 0 0 0 0 0 0 0 9,461 POST RETIREMENT OBLIGATION OTHER THAN PENSION 0 0 3,566 0 0 0 0 9,779 MINORITY INTEREST IN SUBSIDIARY 0 0 64 0 0 0 0 252 ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LIABILITIES 66 0 19,850 488 0 4,407 (36,505) 154,202 CAPITAL STOCK 0 0 2,216 100 0 9,197 (39,754) 62,982 RETAINED EARNINGS 0 0 (4,444) (182) 0 3,186 0 (118,532) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- NET WORTH 0 0 (2,228) (82) 0 12,383 (39,754) (55,550) ------------- ------------- -------------- ------------- ------------- ------------- ------------- ------------- TOTAL LIABILITIES & NET WORTH $66 $0 $17,622 $406 $0 $16,790 ($76,259) $98,652 ============= ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION INCOME STATEMENT FOR THE MONTH ENDED SEPTEMBER 30, 2003 (US $ IN 000s) ATCHISON AMITE MILWAUKEE EMPIRE CASTING FOUNDRY & PROSPECT QUAKER IMPELLER STEEL LaGRANGE CORPORATION MACHINE, INC. FOUNDRY, INC. ALLOY, INC. CASTINGS, INC. CASTINGS, INC. FOUNDRY, INC. -------------- --------------- --------------- --------------- --------------- --------------- -------------- SALES $5,526 $1,252 $1,346 $226 $0 $164 $0 COST OF SALES : MATERIAL (2,192) (279) (213) 0 0 0 0 LABOR (479) (157) (324) (20) 0 (26) 0 BURDEN (2,399) (774) (625) (131) 0 (175) 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- TOTAL STANDARD COST OF SALES (5,070) (1,210) (1,162) (151) 0 (201) 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- STANDARD GROSS MARGIN 456 42 184 75 0 (37) 0 MANUFACTURING VARIANCE 106 0 0 0 0 0 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- TOTAL COST OF SALES (4,964) (1,210) (1,162) (151) 0 (201) 0 GROSS PROFIT (LOSS) 562 42 184 75 0 (37) 0 GENERAL AND ADMINISTRATIVE (1,473) (55) (120) (22) (21) (19) (49) SALES AND MARKETING (56) (12) (30) (2) 0 (4) 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- NET OPERATING PROFIT (LOSS) (967) (25) 34 51 (21) (60) (49) OTHER INCOME (EXPENSE) 14 0 0 0 0 0 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- EARNINGS BEFORE INTEREST AND TAX (953) (25) 34 51 (21) (60) (49) INTEREST EXPENSE 185 (73) 62 (137) 0 0 0 MINORITY INTEREST (1) 0 0 0 0 0 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- NET INCOME (LOSS) BEFORE TAX (769) (98) 96 (86) (21) (60) (49) INCOME TAX (41) 33 (38) 26 0 21 0 -------------- --------------- --------------- --------------- --------------- --------------- -------------- NET INCOME (LOSS) ($810) ($65) $58 ($60) ($21) ($39) ($49) ============== =============== =============== =============== =============== =============== ==============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION INCOME STATEMENT FOR THE MONTH ENDED SEPTEMBER 30, 2003 (US $ IN 000s) PENNSYLVANIA SPRINGFIELD INVERNESS NON - STEEL FOUNDRY IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR & MACHINE CO. CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES -------------- -------------- --------------- --------------- --------------- --------------- --------------- SALES $0 $0 $0 $3,358 $0 $0 $882 COST OF SALES : MATERIAL 0 0 0 (1,522) 0 0 (289) LABOR 0 0 0 (104) 0 0 (166) BURDEN (9) 0 0 (1,400) (21) 0 (462) -------------- -------------- --------------- --------------- --------------- --------------- --------------- TOTAL STANDARD COST OF SALES (9) 0 0 (3,026) (21) 0 (917) -------------- -------------- --------------- --------------- --------------- --------------- --------------- STANDARD GROSS MARGIN (9) 0 0 332 (21) 0 (35) MANUFACTURING VARIANCE 0 0 0 (372) 0 0 0 -------------- -------------- --------------- --------------- --------------- --------------- --------------- TOTAL COST OF SALES (9) 0 0 (3,398) (21) 0 (917) GROSS PROFIT (LOSS) (9) 0 0 (40) (21) 0 (35) GENERAL AND ADMINISTRATIVE 0 0 0 (160) (10) 0 (121) SALES AND MARKETING 0 0 0 (57) 0 0 (39) -------------- -------------- --------------- --------------- --------------- --------------- --------------- NET OPERATING PROFIT (LOSS) (9) 0 0 (257) (31) 0 (195) OTHER INCOME (EXPENSE) 0 0 0 0 0 0 1 -------------- -------------- --------------- --------------- --------------- --------------- --------------- EARNINGS BEFORE INTEREST AND TAX (9) 0 0 (257) (31) 0 (194) INTEREST EXPENSE 0 0 0 (63) (1) 0 5 MINORITY INTEREST 0 0 0 4 0 0 0 -------------- -------------- --------------- --------------- --------------- --------------- --------------- NET INCOME (LOSS) BEFORE TAX (9) 0 0 (316) (32) 0 (189) INCOME TAX 0 0 0 128 0 0 61 -------------- -------------- --------------- --------------- --------------- --------------- --------------- NET INCOME (LOSS) ($9) $0 $0 ($188) ($32) $0 ($128) ============== ============== =============== =============== =============== =============== ===============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION INCOME STATEMENT FOR THE MONTH ENDED SEPTEMBER 30, 2003 (US $ IN 000s) ELIMINATIONS CONSOLIDATED -------------- -------------- SALES ($14) $12,740 COST OF SALES : MATERIAL 0 (4,495) LABOR 0 (1,276) BURDEN 14 (5,982) -------------- -------------- TOTAL STANDARD COST OF SALES 14 (11,753) -------------- -------------- STANDARD GROSS MARGIN 0 987 MANUFACTURING VARIANCE 0 (266) -------------- -------------- TOTAL COST OF SALES 14 (12,019) GROSS PROFIT (LOSS) 0 721 GENERAL AND ADMINISTRATIVE 0 (2,050) SALES AND MARKETING 0 (200) -------------- -------------- NET OPERATING PROFIT (LOSS) 0 (1,529) OTHER INCOME (EXPENSE) 0 15 -------------- -------------- EARNINGS BEFORE INTEREST AND TAX 0 (1,514) INTEREST EXPENSE 0 (22) MINORITY INTEREST 0 3 -------------- -------------- NET INCOME (LOSS) BEFORE TAX 0 (1,533) INCOME TAX 0 190 -------------- -------------- NET INCOME (LOSS) $0 ($1,343) ============== ==============