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)
============== ==============