ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
October 31, 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 $3,507 $0 $0 $1 $0 $1 $0 $0
TRADE RECEIVABLES 6,659 1,267 1,987 1,062 0 252 0 0
OTHER RECEIVABLES 5,728 0 1 0 0 12 0 0
LESS ALLOWANCES (150) (7) (25) (141) 0 (18) 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
NET ACCOUNT RECEIVABLES 12,237 1,260 1,963 921 0 246 0 0
GROSS INVENTORY 8,260 2,131 696 392 0 2,953 0 0
LIFO RESERVE (780) 0 0 0 0 0 0 0
VALUATION RESERVE (125) (17) (42) 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
NET INVENTORY 7,355 2,114 654 392 0 2,953 0 0
DEFERRED INCOME TAXES (7,932) 0 0 0 0 0 0 0
OTHER CURRENT ASSETS 1,518 418 171 234 0 98 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL CURRENT ASSETS 16,685 3,792 2,788 1,548 0 3,298 0 0
PROPERTY, PLANT, & EQUIPMENT 54,741 19,060 15,186 7,446 0 3,412 0 0
ALLOWANCE FOR DEPRECIATION (34,588) (10,901) (11,088) (3,674) 0 (2,785) 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
NET PROPERTY 20,153 8,159 4,098 3,772 0 627 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 54,105 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 2,477 0 0 0 614 186 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL ASSETS $93,420 $11,951 $6,886 $5,320 $614 $4,111 $0 $0
============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
October 31, 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 $0 $0 $0 $0 $0 $3,509
TRADE RECEIVABLES 0 0 0 313 0 3,680 0 15,220
OTHER RECEIVABLES 0 0 0 0 0 59 0 5,800
LESS ALLOWANCES 0 0 0 0 0 (38) 0 (379)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET ACCOUNT RECEIVABLES 0 0 0 313 0 3,701 0 20,641
GROSS INVENTORY 0 0 0 0 0 1,712 0 16,144
LIFO RESERVE 0 0 0 0 0 0 0 (780)
VALUATION RESERVE 0 0 0 0 0 (15) 0 (199)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET INVENTORY 0 0 0 0 0 1,697 0 15,165
DEFERRED INCOME TAXES 0 0 0 0 0 63 0 (7,869)
OTHER CURRENT ASSETS 0 0 0 3 0 223 0 2,665
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL CURRENT ASSETS 0 0 0 316 0 5,684 0 34,111
PROPERTY, PLANT, & EQUIPMENT 0 0 0 0 0 14,272 0 114,117
ALLOWANCE FOR DEPRECIATION 0 0 0 0 0 (5,060) 0 (68,096)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET PROPERTY 0 0 0 0 0 9,212 0 46,021
OTHER ASSETS - INTANGIBLES 0 0 0 0 0 9,849 0 9,849
ACCUMULATED AMORTIZATION 0 0 0 0 0 (7,969) 0 (7,969)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET INTANGIBLES 0 0 0 0 0 1,880 0 1,880
INVESTMENT IN SUBSIDIARIES 0 0 0 0 0 0 (54,105) 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 66 0 0 0 0 265 0 3,608
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL ASSETS $66 $0 $0 $316 $0 $17,041 ($54,105) $85,620
============= ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
October 31, 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 $8,396 $1,730 $1,316 $1,551 $0 $145 $38 $0
ACCRUED EXPENSES 15,808 718 1,719 (744) 604 3,725 1,294 441
CURRENT PORTION - LONG TERM DEBT 9,694 0 0 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL CURRENT LIABILITIES 33,898 2,448 3,035 807 604 3,870 1,332 441
LONG TERM LOAN 73,132 0 0 0 0 0 0 0
LONG TERM LOAN - INTRACOMPANY (18,783) 11,973 (10,580) 17,419 8,259 7,831 2,725 (441)
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LOANS 54,349 11,973 (10,580) 17,419 8,259 7,831 2,725 (441)
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 2,046 0 0
POST RETIREMENT OBLIGATION
OTHER THAN PENSION 5,777 0 0 0 0 464 0 0
MINORITY INTEREST IN SUBSIDIARY 148 0 0 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LIABILITIES 103,701 14,461 (7,545) 18,226 8,863 14,211 4,057 0
CAPITAL STOCK 63,353 12,000 6,678 1,894 3,269 1,400 3,000 0
RETAINED EARNINGS (73,634) (14,510) 7,753 (14,800) (11,518) (11,500) (7,057) 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
NET WORTH (10,281) (2,510) 14,431 (12,906) (8,249) (10,100) (4,057) 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LIABILITIES &
NET WORTH $93,420 $11,951 $6,886 $5,320 $614 $4,111 $0 $0
============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
October 31, 2003
SPRINGFIELD INVERNESS NON -
IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR
LIABILITIES & NET WORTH CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES ELIMINATIONS CONSOLIDATED
- ---------------------------------------- ------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
ACCOUNT PAYABLE $0 $0 $0 $202 $0 $1,844 $0 15,222
ACCRUED EXPENSES 0 0 0 186 0 1,708 0 25,459
CURRENT PORTION - LONG TERM DEBT 0 0 0 0 0 0 9,694
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL CURRENT LIABILITIES 0 0 0 388 0 3,552 0 50,375
LONG TERM LOAN 0 0 0 0 0 0 0 73,132
LONG TERM LOAN - INTRACOMPANY 66 0 0 24 0 (2,420) (16,073) 0
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LOANS 66 0 0 24 0 (2,420) (16,073) 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 2,282 0 3,533
OTHER LONG TERM LIABILITIES 0 0 0 0 0 0 0 881
LONG TERM PENSION 0 0 0 0 0 0 0 9,483
POST RETIREMENT OBLIGATION
OTHER THAN PENSION 0 0 0 0 0 0 0 6,241
MINORITY INTEREST IN SUBSIDIARY 0 0 0 0 0 0 0 148
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LIABILITIES 66 0 0 412 0 3,414 (16,073) 143,793
CAPITAL STOCK 0 0 0 100 0 9,691 (38,032) 63,353
RETAINED EARNINGS 0 0 0 (196) 0 3,936 0 (121,526)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET WORTH 0 0 0 (96) 0 13,627 (38,032) (58,173)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LIABILITIES &
NET WORTH $66 $0 $0 $316 $0 $17,041 ($54,105) $85,620
============ ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED OCTOBER 31, 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 $6,115 $1,005 $1,573 $595 $0 $364 $0
COST OF SALES:
MATERIAL (2,268) (316) (233) (24) 0 0 0
LABOR (563) (138) (404) (19) 0 (26) 0
BURDEN (2,838) (532) (657) (160) 0 (222) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
TOTAL STANDARD COST OF SALES (5,669) (986) (1,294) (203) 0 (248) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
STANDARD GROSS MARGIN 446 19 279 392 0 116 0
MANUFACTURING VARIANCE 320 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
TOTAL COST OF SALES (5,349) (986) (1,294) (203) 0 (248) 0
GROSS PROFIT (LOSS) 766 19 279 392 0 116 0
GENERAL & ADMINISTRATIVE (1,286) (66) (135) (70) (52) (8) (284)
SALES & MARKETING (63) (14) (30) (14) 0 (9) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET OPERATING PROFIT (LOSS) (583) (61) 114 308 (52) 99 (284)
OTHER INCOME (EXPENSE) (1,818) 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
EARNINGS BEFORE INTEREST & TAX (2,401) (61) 114 308 (52) 99 (284)
INTEREST EXPENSE 305 (90) 45 (134) 0 0 0
MINORITY INTEREST 0 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET INCOME (LOSS) BEFORE TAX (2,096) (151) 159 174 (52) 99 (284)
INCOME TAX (187) 52 (62) (52) 0 (16) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET INCOME (LOSS) ($2,283) ($99) $97 $122 ($52) $83 ($284)
============== =============== =============== =============== =============== =============== ==============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED OCTOBER 31, 2003
(US $ IN 000s)
PENNSYLVANIA SPRINGFIELD INVERNESS ACC NON -
STEEL FOUNDRY IRON PRIMECAST CASTINGS GLOBAL CLAREMONT DEBTOR
& MACHINE CO. CORPORATION INCORSOLIDATED GROUP, INC. CORPORATION FOUNDRY, INC. SUBSIDIARIES
------------- ------------ -------------- ----------- ----------- ------------- ------------
SALES $0 $0 $0 $2,746 ($21) $0 $1,602
COST OF SALES:
MATERIAL 0 0 0 (1,193) 0 0 (467)
LABOR 0 0 0 (96) 0 0 (245)
BURDEN 0 0 0 (1,600) 17 0 (967)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
TOTAL STANDARD COST OF SALES 0 0 0 (2,889) 17 0 (1,679)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
STANDARD GROSS MARGIN 0 0 0 (143) (4) 0 (77)
MANUFACTURING VARIANCE 0 0 0 (5) 0 0 0
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
TOTAL COST OF SALES 0 0 0 (2,894) 17 0 (1,679)
GROSS PROFIT (LOSS) 0 0 0 (148) (4) 0 (77)
GENERAL & ADMINISTRATIVE (45) 0 0 (1,653) (10) 0 (70)
SALES & MARKETING 0 0 0 (59) 0 0 (44)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET OPERATING PROFIT (LOSS) (45) 0 0 (1,860) (14) 0 (191)
OTHER INCOME (EXPENSE) 0 0 0 1,461 0 0 1
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
EARNINGS BEFORE INTEREST & TAX (45) 0 0 (399) (14) 0 (190)
INTEREST EXPENSE 0 0 0 (146) 0 0 9
MINORITY INTEREST 0 0 0 11 0 0 0
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET INCOME (LOSS) BEFORE TAX (45) 0 0 (534) (14) 0 (181)
INCOME TAX 0 0 0 136 0 0 60
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET INCOME (LOSS) ($45) $0 $0 ($398) ($14) $0 ($121)
============== ============== =============== =============== =============== =============== ===============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED OCTOBER 31, 2003
(US $ IN 000s)
ELIMINATIONS CONSOLIDATED
------------- -------------
SALES $0 $13,979
COST OF SALES:
MATERIAL 0 (4,501)
LABOR 0 (1,491)
BURDEN 0 (6,959)
-------------- --------------
TOTAL STANDARD COST OF SALES 0 (12,951)
-------------- --------------
STANDARD GROSS MARGIN 0 1,028
MANUFACTURING VARIANCE 0 315
-------------- --------------
TOTAL COST OF SALES 0 (12,636)
GROSS PROFIT (LOSS) 0 1,343
GENERAL & ADMINISTRATIVE 0 (3,679)
SALES & MARKETING 0 (233)
-------------- --------------
NET OPERATING PROFIT (LOSS) 0 (2,569)
OTHER INCOME (EXPENSE) 0 (356)
-------------- --------------
EARNINGS BEFORE INTEREST & TAX 0 (2,925)
INTEREST EXPENSE 0 (11)
MINORITY INTEREST 0 11
-------------- --------------
NET INCOME (LOSS) BEFORE TAX 0 (2,925)
INCOME TAX 0 (69)
-------------- --------------
NET INCOME (LOSS) $0 ($2,994)
============== ==============