Exhibit 99.3
SOLUTIA UK HOLDINGS LTD. AND CERTAIN SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
AS OF OCTOBER 31, 2003
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------------
Cash & Cash Equivalents $ 4,465 $ 9 $ 5
Net Cust Trade & Notes Rec 15,209 - -
Misc Receivables 4,660 4,621 -
I/C Receivables 8,962 181 -
---------------------------------------------
Total Receivables 28,831 4,802 -
Total Inventories 7,791 - -
Prepaid Expenses 568 - -
Current Deferred Taxes - - -
---------------------------------------------
CURRENT ASSETS 41,655 4,811 5
---------------------------------------------
Capital Investment In Subs 10,599 55,000 73,332
Advances To Subs (I/C Loans) 73,095 155,601 51
---------------------------------------------
Investment In Subs 83,694 210,601 73,383
---------------------------------------------
Investment In Equity Affiliates 9,266 - -
Misc Investments - - -
Net Property 16,789 - -
Other Assets 9,575 - -
Noncurrent Def Tax Assets - - -
Net Intangible Assets (348) (113,049) 113,049
---------------------------------------------
NONCURRENT ASSETS 118,976 97,552 186,432
---------------------------------------------
TOTAL ASSETS $ 160,631 $ 102,363 $ 186,437
=============================================
Accts Payable & Accruals 26,503 2,358 1
Total Short-Term Debt 7,296 - -
---------------------------------------------
CURRENT LIABILITIES 33,799 2,358 1
Long-Term Debt - 80,233 148,356
Noncurrent Def Tax Liab 1,087 - -
Other Liabilities - - -
Postretirement Liab 13,445 - -
---------------------------------------------
NONCURRENT LIABILITIES 14,532 80,233 148,356
---------------------------------------------
TOTAL LIABILITIES 48,331 82,591 148,357
---------------------------------------------
Capital Stock 118 117 117
Net Minimum Pension Lia Adj (8,623) - -
Accum Currency Adjustment 6,544 13,328 (17,189)
Add'l Contributed Capital 73,214 6,456 54,882
Reinvested Earnings 41,047 (129) 270
Treasury Stock - - -
---------------------------------------------
SHAREOWNERS' EQUITY 112,300 19,772 38,080
---------------------------------------------
TOTAL LIAB. & EQUITY $ 160,631 $ 102,363 $ 186,437
=============================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD. AND CERTAIN SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2002
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------------
Cash & Cash Equivalents $ 19,197 $ 2 $ 2
Net Cust Trade & Notes Rec 13,528 - -
Misc Receivables 4,906 1,173 -
I/C Receivables 5,863 - 1
---------------------------------------------
Total Receivables 24,297 1,173 1
Total Inventories 9,714 - -
Prepaid Expenses 547 - -
Current Deferred Taxes - - -
---------------------------------------------
CURRENT ASSETS 53,755 1,175 3
---------------------------------------------
Capital Investment In Subs 10,599 55,000 73,332
Advances To Subs (I/C Loans) 38,321 145,709 48
---------------------------------------------
Investment In Subs 50,413 200,709 73,380
---------------------------------------------
Investment In Equity Affiliates 9,734 - -
Misc Investments - - -
Net Property 17,611 - -
Other Assets 9,480 - -
Noncurrent Def Tax Assets - - -
Net Intangible Assets (325) (113,049) 113,049
---------------------------------------------
NONCURRENT ASSETS 86,913 87,660 186,429
---------------------------------------------
TOTAL ASSETS $ 140,668 $ 88,835 $ 186,432
=============================================
Accts Payable & Accruals 24,645 1,422 1
Total Short-Term Debt 5,617 - -
---------------------------------------------
CURRENT LIABILITIES 30,262 1,422 1
Long-Term Debt - 71,939 140,140
Noncurrent Def Tax Liab 1,027 - -
Other Liabilities - - -
Postretirement Liab 12,700 - -
---------------------------------------------
NONCURRENT LIABILITIES 13,727 71,939 140,140
---------------------------------------------
TOTAL LIABILITIES 43,989 73,361 140,141
---------------------------------------------
Capital Stock 118 117 117
Net Minimum Pension Lia Adj (8,750) - -
Accum Currency Adjustment 1,113 9,044 (8,976)
Add'l Contributed Capital 73,214 6,456 54,882
Reinvested Earnings 30,984 (143) 268
Treasury Stock - - -
---------------------------------------------
SHAREOWNERS' EQUITY 96,679 15,474 46,291
---------------------------------------------
TOTAL LIAB. & EQUITY $ 140,668 $ 88,835 $ 186,432
=============================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD. AND CERTAIN SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2001
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------------
Cash & Cash Equivalents $ (65) $ - $ 45
Net Cust Trade & Notes Rec 10,245 - -
Misc Receivables 7,256 322 -
I/C Receivables 17,032 107 -
---------------------------------------------
Total Receivables 34,533 429 -
Total Inventories 8,063 - -
Prepaid Expenses 707 - -
Current Deferred Taxes - - -
---------------------------------------------
CURRENT ASSETS 43,238 429 45
---------------------------------------------
Capital Investment In Subs 10,600 55,000 73,332
Advances To Subs (I/C Loans) 29,299 130,969 -
---------------------------------------------
Investment In Subs 41,392 185,969 73,332
---------------------------------------------
Investment In Equity Affiliates 9,426 - -
Misc Investments - - -
Net Property 17,848 - -
Other Assets 8,559 - -
Noncurrent Def Tax Assets - - -
Net Intangible Assets (306) (113,049) 113,049
---------------------------------------------
NONCURRENT ASSETS 76,928 72,920 186,381
---------------------------------------------
TOTAL ASSETS $ 120,166 $ 73,349 $ 186,426
=============================================
Accts Payable & Accruals 20,651 4,525 -
Total Short-Term Debt 4,192 - -
---------------------------------------------
CURRENT LIABILITIES 24,843 4,525 -
Long-Term Debt - - 126,777
Noncurrent Def Tax Liab 4,856 - -
Other Liabilities - - -
Postretirement Liab - - -
---------------------------------------------
NONCURRENT LIABILITIES 4,856 - 126,777
---------------------------------------------
TOTAL LIABILITIES 29,699 4,525 126,777
---------------------------------------------
Capital Stock 118 117 117
Net Minimum Pension Lia Adj - - -
Accum Currency Adjustment (7,800) (4,355) 4,383
Add'l Contributed Capital 73,190 73,214 54,882
Reinvested Earnings 24,959 (152) 267
Treasury Stock - - -
---------------------------------------------
SHAREOWNERS' EQUITY 90,467 68,824 59,649
---------------------------------------------
TOTAL LIAB. & EQUITY $ 120,166 $ 73,349 $ 186,426
=============================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD. AND CERTAIN SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2000
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------------
Cash & Cash Equivalents $ 232 $ 23 $ 45
Net Cust Trade & Notes Rec 8,724 - -
Misc Receivables 4,868 83 -
I/C Receivables 8,550 50 -
---------------------------------------------
Total Receivables 22,142 133 -
Total Inventories 6,818 - -
Prepaid Expenses 281 - -
Current Deferred Taxes - - -
---------------------------------------------
CURRENT ASSETS 29,473 156 45
---------------------------------------------
Capital Investment In Subs 10,599 55,000 73,332
Advances To Subs (I/C Loans) 29,270 131,743 -
---------------------------------------------
Investment In Subs 41,362 186,743 73,332
---------------------------------------------
Investment In Equity Affiliates 15,742 - -
Misc Investments - - -
Net Property 20,840 - -
Other Assets 8,127 - -
Noncurrent Def Tax Assets - - -
Net Intangible Assets (304) (113,049) 113,049
---------------------------------------------
NONCURRENT ASSETS 85,782 73,694 186,381
---------------------------------------------
TOTAL ASSETS $ 115,255 $ 73,850 $ 186,426
=============================================
Accts Payable & Accruals 21,252 1,777 -
Total Short-Term Debt 1,689 - -
---------------------------------------------
CURRENT LIABILITIES 22,941 1,777 -
Long-Term Debt - - 130,054
Noncurrent Def Tax Liab 4,888 - -
Other Liabilities - - -
Postretirement Liab - - -
---------------------------------------------
NONCURRENT LIABILITIES 4,888 - 130,054
---------------------------------------------
TOTAL LIABILITIES 27,829 1,777 130,054
---------------------------------------------
Capital Stock 118 117 117
Net Minimum Pension Lia Adj - - -
Accum Currency Adjustment (4,470) (1,068) 1,107
Add'l Contributed Capital 73,214 73,214 54,882
Reinvested Earnings 18,564 (190) 266
Treasury Stock - - -
---------------------------------------------
SHAREOWNERS' EQUITY 87,426 72,073 56,372
---------------------------------------------
TOTAL LIAB. & EQUITY $ 115,255 $ 73,850 $ 186,426
=============================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD. AND CERTAIN SUBSIDIARIES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 1999
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------------
Cash & Cash Equivalents $ 698 $ 73 $ -
Net Cust Trade & Notes Rec 11,723 - -
Misc Receivables 6,468 - -
I/C Receivables 17,538 2,516 2,995
---------------------------------------------
Total Receivables 35,729 2,516 2,995
Total Inventories 7,687 - -
Prepaid Expenses 149 - -
Current Deferred Taxes - - -
---------------------------------------------
CURRENT ASSETS 44,263 2,589 2,995
---------------------------------------------
Capital Investment In Subs 10,599 55,000 73,332
Advances To Subs (I/C Loans) 4,700 142,387 -
---------------------------------------------
Investment In Subs 15,299 197,387 73,332
---------------------------------------------
Investment In Equity Affiliates 24,525 - -
Misc Investments - - -
Net Property 27,391 - -
Other Assets 7,812 - -
Noncurrent Def Tax Assets - - -
Net Intangible Assets (369) (120,982) 120,982
---------------------------------------------
NONCURRENT ASSETS 74,674 76,405 194,314
---------------------------------------------
TOTAL ASSETS $ 118,937 $ 78,994 $ 197,309
=============================================
Accts Payable & Accruals 26,502 1,803 2,497
Total Short-Term Debt 1,471 - -
---------------------------------------------
CURRENT LIABILITIES 27,973 1,803 2,497
Long-Term Debt - - 141,416
Noncurrent Def Tax Liab 3,592 - -
Other Liabilities - - -
Postretirement Liab - - -
---------------------------------------------
NONCURRENT LIABILITIES 3,592 - 141,416
---------------------------------------------
TOTAL LIABILITIES 31,565 1,803 143,913
---------------------------------------------
Capital Stock 118 117 117
Net Minimum Pension Lia Adj - - -
Accum Currency Adjustment (39) 2,148 (2,162)
Add'l Contributed Capital 73,214 73,214 54,882
Reinvested Earnings 14,079 1,712 559
Treasury Stock - - -
---------------------------------------------
SHAREOWNERS' EQUITY 87,372 77,191 53,396
---------------------------------------------
TOTAL LIAB. & EQUITY $ 118,937 $ 78,994 $ 197,309
=============================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD AND CERTAIN SUBSIDIARIES
STATEMENT OF INCOME
FOR THE TEN MONTHS ENDED 10/31/03
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------
Customer Sales $ 75,338 $ - $ -
Intercompany Sales 46,101 - -
---------------------------------------
Gross Sales 121,439 - -
Sales Deductions (7,667) - -
TOTAL NET SALES 113,772 - -
Total Cost Of Goods Sold 87,530 - -
GROSS PROFIT 26,242 - -
Total MAT Expense 5,603 - -
Restructuring Expense - - -
---------------------------------------
Operating Income 20,639 - -
---------------------------------------
Interest Income 2,590 7,507 2
Other Income/(Expense) 1,207 (643) 7,292
---------------------------------------
EBIT 23,440 6,864 7,294
Interest Expense 408 2,234 7,291
---------------------------------------
Income Before Taxes 23,032 4,630 3
Provision For Income Taxes 6,519 (328) -
---------------------------------------
Income - Continuing Op 16,513 4,958 3
---------------------------------------
NET INCOME $ 16,513 $ 4,958 $ 3
=======================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD AND CERTAIN SUBSIDIARIES
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED 12/31/02
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------
Customer Sales $ 74,092 $ - $ -
Intercompany Sales 47,436 - -
---------------------------------------
Gross Sales 121,528 - -
Sales Deductions (7,773) - -
TOTAL NET SALES 113,755 - -
Total Cost Of Goods Sold 85,967 - -
GROSS PROFIT 27,788 - -
Total MAT Expense 6,337 - -
Restructuring Expense - - -
---------------------------------------
Operating Income 21,451 - -
---------------------------------------
Interest Income 2,287 9,287 1
Other Income/(Expense) (335) 248 9,147
---------------------------------------
EBIT 22,773 9,535 9,148
Interest Expense 530 3 9,147
---------------------------------------
Income Before Taxes 22,243 9,532 1
Provision For Income Taxes 7,058 (468) -
---------------------------------------
Income - Continuing Op 15,185 10,000 1
---------------------------------------
NET INCOME $ 15,185 $10,000 $ 1
=======================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD AND CERTAIN SUBSIDIARIES
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED 12/31/01
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------
Customer Sales $ 59,937 $ - $ -
Intercompany Sales 50,025 - -
---------------------------------------
Gross Sales 109,962 - -
Sales Deductions (6,734) - -
TOTAL NET SALES 103,228 - -
Total Cost Of Goods Sold 75,896 - -
GROSS PROFIT 27,332 - -
Total MAT Expense 5,441 - -
Restructuring Expense 75 - -
---------------------------------------
Operating Income 21,816 - -
---------------------------------------
Interest Income 1,786 8,918 1
Other Income/(Expense) 1,279 (23) 8,782
---------------------------------------
EBIT 20,431 8,895 8,783
Interest Expense 287 - 8,782
---------------------------------------
Income Before Taxes 20,144 8,895 1
Provision For Income Taxes 4,946 2,315 -
---------------------------------------
Income - Continuing Op 15,198 6,580 1
---------------------------------------
NET INCOME $ 15,198 $ 6,580 $ 1
=======================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD AND CERTAIN SUBSIDIARIES
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED 12/31/00
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------
Customer Sales $ 67,195 $ - $ -
Intercompany Sales 50,509 - -
---------------------------------------
Gross Sales 117,704 - -
Sales Deductions (7,295) - -
TOTAL NET SALES 110,409 - -
Total Cost Of Goods Sold 82,362 - -
GROSS PROFIT 28,047 - -
Total MAT Expense 3,163 - -
Restructuring Expense - - -
---------------------------------------
Operating Income 24,884 - -
---------------------------------------
Interest Income 948 9,192 49
Other Income/(Expense) 6,105 2,806 14,339
---------------------------------------
EBIT 23,014 11,998 14,388
Interest Expense 66 - 9,163
---------------------------------------
Income Before Taxes 22,948 11,998 5,225
Provision For Income Taxes 4,073 2,166 2,759
---------------------------------------
Income - Continuing Op 18,875 9,832 2,466
---------------------------------------
NET INCOME $ 18,875 $ 9,832 $ 2,466
=======================================
Exhibit 99.3
SOLUTIA UK HOLDINGS LTD AND CERTAIN SUBSIDIARIES
STATEMENT OF INCOME
FOR THE TWELVE MONTHS ENDED 12/31/99
ENTITY 1 ENTITY 2 ENTITY 3
---------------------------------------
Customer Sales $ 79,493 $ - $ -
Intercompany Sales 49,759 - -
---------------------------------------
Gross Sales 129,252 - -
Sales Deductions (7,496) - -
TOTAL NET SALES 121,756 - -
Total Cost Of Goods Sold 91,590 - -
GROSS PROFIT 30,166 - -
Total MAT Expense 3,885 - -
Restructuring Expense - - -
---------------------------------------
Operating Income 26,281 - -
---------------------------------------
Interest Income 770 9,848 -
Other Income/(Expense) (175) 3,655 11,049
---------------------------------------
EBIT 26,876 13,503 11,049
Interest Expense 202 - 9,823
---------------------------------------
Income Before Taxes 27,995 13,503 1,226
Provision For Income Taxes 8,084 2,130 (2,989)
---------------------------------------
Income - Continuing Op 19,911 11,373 4,215
---------------------------------------
NET INCOME $ 19,911 $11,373 $ 4,215
=======================================