ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 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. FELCONSOL.ONS
- ---------------------------------------- ------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
CASH $9,045 $0 $0 $1 $0 $1 $0 $0
TRADE RECEIVABLES 8,035 1,695 2,020 924 0 229 0 0
OTHER RECEIVABLES 280 0 1 0 0 12 0 0
LESS ALLOWANCES (150) (2) (25) (193) 0 (18) 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
NET ACCOUNT RECEIVABLES 8,165 1,693 1,996 731 0 223 0 0
GROSS INVENTORY 8,952 1,981 677 234 0 1,635 0 0
LIFO RESERVE (790) 0 0 0 0 0 0 0
VALUATION RESERVE (145) (51) (42) 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
NET INVENTORY 8,017 1,930 635 234 0 1,635 0 0
DEFERRED INCOME TAXES (7,932) 0 0 0 0 0 0 0
OTHER CURRENT ASSETS 1,404 378 151 213 0 85 0 3
------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
TOTAL CURRENT ASSETS 18,699 4,001 2,782 1,179 0 1,944 0 3
PROPERTY, PLANT, & EQUIPMENT 54,778 19,075 15,186 7,446 0 3,412 0 0
ALLOWANCE FOR DEPRECIATION (34,856) (10,999) (11,163) (3,715) 0 (2,797) 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
NET PROPERTY 19,922 8,076 4,023 3,731 0 615 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 51,705 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 2,426 0 0 0 614 186 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- ------------- -
TOTAL ASSETS $92,752 $12,077 $6,805 $4,910 $614 $2,745 $0 $3
============= ============= ============= ============= ============= ============== ============= ============= =
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 2003
SPRINGFIELD INVERNESS NON -
IRON PRIMECAST CASTINGS ACC GLOBAL CLAREMONT DEBTOR
ASSETS CORPORATION INCORPORATED GROUP, INC. CORPORATION FOUNDRY, INC. SECURITIES ELIMINATIONS CONSOLIDATED
- ---------------------------------------- ------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
CASH $0 $0 $0 $0 $0 $0 $0 $9,047
TRADE RECEIVABLES 0 0 0 47 0 1,802 0 14,752
OTHER RECEIVABLES 0 0 0 0 0 33 0 326
LESS ALLOWANCES 0 0 0 (47) 0 (18) 0 (453)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET ACCOUNT RECEIVABLES 0 0 0 0 0 1,817 0 14,625
GROSS INVENTORY 0 0 0 0 0 1,482 0 14,961
LIFO RESERVE 0 0 0 0 0 0 0 (790)
VALUATION RESERVE 0 0 0 0 0 (16) 0 (254)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET INVENTORY 0 0 0 0 0 1,466 0 13,917
DEFERRED INCOME TAXES 0 0 0 0 0 0 0 (7,932)
OTHER CURRENT ASSETS 0 0 0 2 0 139 0 2,375
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL CURRENT ASSETS 0 0 0 2 0 3,422 0 32,032
PROPERTY, PLANT, & EQUIPMENT 0 0 0 0 0 11,185 0 111,082
ALLOWANCE FOR DEPRECIATION 0 0 0 0 0 (3,669) 0 (67,199)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET PROPERTY 0 0 0 0 0 7,516 0 43,883
OTHER ASSETS - INTANGIBLES 0 0 0 0 0 9,914 0 9,914
ACCUMULATED AMORTIZATION 0 0 0 0 0 (8,022) 0 (8,022)
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET INTANGIBLES 0 0 0 0 0 1,892 0 1,892
INVESTMENT IN SUBSIDIARIES 0 0 0 0 0 0 (51,705) 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 0 0 3,292
------------ ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL ASSETS $66 $0 $0 $2 $0 $12,830 ($51,705) $81,099
============ ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 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 $8,292 $1,570 $1,338 $1,541 $0 $170 $38 $0
ACCRUED EXPENSES 15,964 643 1,668 (910) 638 2,208 1,322 438
CURRENT PORTION - LONG TERM DEBT 13,820 0 0 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL CURRENT LIABILITIES 38,076 2,213 3,006 631 638 2,378 1,360 438
LONG TERM LOAN 72,358 0 0 0 0 0 0 0
LONG TERM LOAN - INTRACOMPANY (19,331) 12,541 (10,646) 17,474 8,276 7,781 2,739 (435)
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LOANS 53,027 12,541 (10,646) 17,474 8,276 7,781 2,739 (435)
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 2,068 0 0
POST RETIREMENT OBLIGATION
OTHER THAN PENSION 5,806 0 0 0 0 463 0 0
MINORITY INTEREST IN SUBSIDIARY 148 0 0 0 0 0 0 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LIABILITIES 106,586 14,794 (7,640) 18,105 8,914 12,690 4,099 3
CAPITAL STOCK 63,575 12,000 6,678 1,894 3,269 1,400 3,000 0
RETAINED EARNINGS (77,409) (14,717) 7,767 (15,089) (11,569) (11,345) (7,099) 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
NET WORTH (13,834) (2,717) 14,445 (13,195) (8,300) (9,945) (4,099) 0
------------- ------------- ------------- ------------- ------------- -------------- ------------- -------------
TOTAL LIABILITIES &
NET WORTH $92,752 $12,077 $6,805 $4,910 $614 $2,745 $0 $3
============= ============= ============= ============= ============= ============== ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
CONSOLIDATING BALANCE SHEET
(US $ IN 000s)
November 28, 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 $1,066 $0 14,217
ACCRUED EXPENSES 0 0 0 44 0 117 0 22,132
CURRENT PORTION - LONG TERM DEBT 0 0 0 0 0 0 13,820
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL CURRENT LIABILITIES 0 0 0 246 0 1,183 0 50,169
LONG TERM LOAN 0 0 0 0 0 0 0 72,358
LONG TERM LOAN - INTRACOMPANY 66 0 0 (138) 0 (2,201) (16,126) 0
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LOANS 66 0 0 (138) 0 (2,201) (16,126) 72,358
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 2,305 0 3,556
OTHER LONG TERM LIABILITIES 0 0 0 0 0 0 0 881
LONG TERM PENSION 0 0 0 0 0 0 0 9,505
POST RETIREMENT OBLIGATION
OTHER THAN PENSION 0 0 0 0 0 0 0 6,269
MINORITY INTEREST IN SUBSIDIARY 0 0 0 0 0 0 0 148
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LIABILITIES 66 0 0 108 0 1,287 (16,126) 142,886
CAPITAL STOCK 0 0 0 100 0 7,238 (35,579) 63,575
RETAINED EARNINGS 0 0 0 (206) 0 4,305 0 (125,362)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
NET WORTH 0 0 0 (106) 0 11,543 (35,579) (61,787)
------------- ------------- -------------- ------------- ------------- ------------- ------------- -------------
TOTAL LIABILITIES &
NET WORTH $66 $0 $0 $2 $0 $12,830 ($51,705) $81,099
============= ============= ============== ============= ============= ============= ============= =============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 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 $4,410 $877 $1,269 $91 $0 $1,695 $0
COST OF SALES :
MATERIAL (1,677) (230) (219) (134) 0 0 0
LABOR (420) (147) (381) (14) 0 (11) 0
BURDEN (2,092) (670) (546) (147) 0 (1,438) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
TOTAL STANDARD COST OF SALES (4,189) (1,047) (1,146) (295) 0 (1,449) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
STANDARD GROSS MARGIN 221 (170) 123 (204) 0 246 0
MANUFACTURING VARIANCE (99) 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
TOTAL COST OF SALES (4,288) (1,047) (1,146) (295) 0 (1,449) 0
GROSS PROFIT (LOSS) 122 (170) 123 (204) 0 246 0
GENERAL & ADMINISTRATIVE (1,360) (45) (121) (79) (51) (9) (42)
SALES & MARKETING (64) (12) (25) 1 0 (5) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET OPERATING PROFIT (LOSS) (1,302) (227) (23) (282) (51) 232 (42)
OTHER INCOME (EXPENSE) (2,082) 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
EARNINGS BEFORE INTEREST & TAX (3,384) (227) (23) (282) (51) 232 (42)
INTEREST EXPENSE 149 (87) 46 (130) 0 0 0
MINORITY INTEREST 0 0 0 0 0 0 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET INCOME (LOSS) BEFORE TAX (3,235) (314) 23 (412) (51) 232 (42)
INCOME TAX (155) 107 (9) 123 0 (66) 0
-------------- --------------- --------------- --------------- --------------- --------------- --------------
NET INCOME (LOSS) ($3,390) ($207) $14 ($289) ($51) $166 ($42)
============== =============== =============== =============== =============== =============== ==============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 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 $0 $0 $0 $779
COST OF SALES:
MATERIAL 0 0 0 0 0 0 (297)
LABOR 0 0 0 0 0 0 (145)
BURDEN 0 0 0 0 0 0 (311)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
TOTAL STANDARD COST OF SALES 0 0 0 0 0 0 (753)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
STANDARD GROSS MARGIN 0 0 0 0 0 0 26
MANUFACTURING VARIANCE 0 0 0 0 0 0 0
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
TOTAL COST OF SALES 0 0 0 0 0 0 (753)
GROSS PROFIT (LOSS) 0 0 0 0 0 0 26
GENERAL & ADMINISTRATIVE (11) 0 0 0 (10) 0 (40)
SALES & MARKETING 0 0 0 0 0 0 (14)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET OPERATING PROFIT (LOSS) (11) 0 0 0 (10) 0 (28)
OTHER INCOME (EXPENSE) 0 0 0 0 0 0 (5)
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
EARNINGS BEFORE INTEREST & TAX (11) 0 0 0 (10) 0 (33)
INTEREST EXPENSE 0 0 0 0 0 0 9
MINORITY INTEREST 0 0 0 0 0 0 0
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET INCOME (LOSS) BEFORE TAX (11) 0 0 0 (10) 0 (24)
INCOME TAX 0 0 0 0 0 0 8
-------------- -------------- --------------- --------------- --------------- --------------- ---------------
NET INCOME (LOSS) ($11) $0 $0 $0 ($10) $0 ($16)
============== ============== =============== =============== =============== =============== ===============
ATCHISON CASTING CORPORATION SUBSIDIARIES AS DEBTORS AND DEBTORS-IN-POSSESSION
INCOME STATEMENT
FOR THE MONTH ENDED NOVEMBER 28, 2003
(US $ IN 000s)
ELIMINATIONS CONSOLIDATED
-------------- --------------
SALES ($38) $9,083
COST OF SALES:
MATERIAL 0 (2,557)
LABOR 0 (1,118)
BURDEN 38 (5,166)
-------------- --------------
TOTAL STANDARD COST OF SALES 38 (8,841)
-------------- --------------
STANDARD GROSS MARGIN 0 242
MANUFACTURING VARIANCE 0 (99)
-------------- --------------
TOTAL COST OF SALES 38 (8,940)
GROSS PROFIT (LOSS) 0 143
GENERAL & ADMINISTRATIVE 0 (1,768)
SALES & MARKETING 0 (119)
-------------- --------------
NET OPERATING PROFIT (LOSS) 0 (1,744)
OTHER INCOME (EXPENSE) 0 (2,087)
-------------- --------------
EARNINGS BEFORE INTEREST & TAX 0 (3,831)
INTEREST EXPENSE 0 (13)
MINORITY INTEREST 0 -
-------------- --------------
NET INCOME (LOSS) BEFORE TAX 0 (3,844)
INCOME TAX 0 8
-------------- --------------
NET INCOME (LOSS) $0 ($3,836)
============== ==============