HAWKER BEECHCRAFT ACQUISITION CO LLC

CIK:0001396426|SEC Filings

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

16.

Accumulated Other Comprehensive Loss

The following table summarizes the components of our Accumulated other comprehensive loss:


	December 31, 2011									December 31, 2010
*(In millions)*	Gross Amount			Tax Benefit (Provision)			Net			Gross Amount			Tax Benefit (Provision)			Net
Net loss on pension and other benefits	$	(372.9	)	$	(30.7	)	$	(403.6	)	$	(235.8	)	$	(32.2	)	$	(268.0	)
Prior service cost		(14.1	)		(0.2	)		(14.3	)		(15.6	)		(0.2	)		(15.8	)
Unrealized loss on cash flow hedges		—			—			—			(12.9	)		(8.5	)		(21.4	)
Foreign currency translation		(6.0	)		0.1			(5.9	)		(5.8	)		0.6			(5.2	)

Total	$	(393.0	)	$	(30.8	)	$	(423.8	)	$	(270.1	)	$	(40.3	)	$	(310.4	)

We recorded income tax expense of $9.5 million during the year ended December 31, 2011 related to the release of tax expense lodged in Accumulated other comprehensive loss on foreign currency forward contracts and interest rate swaps that matured in 2011. No income tax expense was recorded during 2010 as a result of items released from Accumulated other comprehensive loss.

Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities:
Net loss	$ (631.9)	$ (304.3)	$ (451.3)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	89.0	90.6	91.0
Amortization of intangible assets	38.7	43.8	62.2
Amortization of debt issuance costs	8.6	9.3	12.6
Amortization of original issue discount	2.5	2.2	0.5
Amortization of deferred compensation			0.3
Stock-based compensation	2.8	4.6	3.3
Change in current and deferred income taxes	4.2	(0.9)	(34.0)
Gain on sale of property, plant and equipment	0.4	(1.4)
Gain on repurchase of long-term debt, net of debt issuance costs write-off			(352.1)
Inventory impairments	32.9		70.7
Long-lived asset impairment	226.6	12.6	95.9
Goodwill and other indefinite-lived intangible impairment charges	66.0	13.0	448.3
Pension and other curtailment	3.6		5.5
Noncash interest expense		6.9	20.2
Changes in assets and liabilities:
Accounts receivable, net	5.3	8.3	(23.4)
Unbilled revenue, advanced payments and billings in excess of costs incurred	(52.0)	(60.9)	(181.9)
Inventories, net	9.3	389.1	583.0
Prepaid expenses and other current assets	4.9	(4.9)	10.5
Accounts payable	96.2	15.2	(189.1)
Other accrued expenses	(100.7)	87.2	(63.5)
Pension and other changes, net	29.9	(11.6)	67.9
Income taxes payable	(0.1)	(1.0)	0.5
Net cash (used in) provided by operating activities	(163.8)	297.8	177.1
Cash flows from investing activities:
Purchases of capital expenditures	(38.4)	(32.0)	(51.0)
Additions to computer software	(15.7)	(9.7)	(3.5)
Proceeds from sale of property, plant and equipment	0.4	6.5	1.2
Net cash used in investing activities	(53.7)	(35.2)	(53.3)
Cash flows from financing activities:
Payment of notes payable	(150.9)	(158.7)	(202.2)
Payment of term loans	(44.5)	(15.0)	(13.5)
Issuance of long-term debt			188.0
Utilization of Revolving Credit Facility	239.0		235.0
Payment of Revolving Credit Facility		(235.0)	(7.6)
Proceeds from Industrial Revenue Bond funding		0.1	4.4
Debt repurchase			(136.7)
Net cash provided by (used in) financing activities	43.6	(408.6)	67.4
Net (decrease) increase in cash and cash equivalents	(173.9)	(146.0)	191.2
Cash and cash equivalents at beginning of period	422.8	568.8	377.6
Cash and cash equivalents at end of period	248.9	422.8	568.8
Supplemental Disclosures:
Cash paid for interest	121.5	119.0	133.8
Cash paid (received) for income taxes	1.5	2.0	(0.5)
Net noncash transfers to (from) property, plant and equipment (to) from inventory	7.9	8.0	(21.5)
Net noncash transfers from property, plant and equipment to prepaid expenses and other current assets		(3.0)
Inventories acquired through issuance of notes	$ 158.2	$ 158.1	$ 148.9

Consolidated Statements Of Financial Position (USD $) In Millions, unless otherwise specified	Dec. 31, 2011	Dec. 31, 2010
Assets
Cash and cash equivalents	$ 248.9	$ 422.8
Accounts and notes receivable, net	115.7	121.0
Unbilled revenue	50.1	34.4
Inventories	1,168.0	1,059.9
Prepaid expenses and other current assets	19.7	30.7
Total current assets	1,602.4	1,668.8
Property, plant and equipment, net	340.2	482.2
Goodwill	193.5	259.5
Intangible assets, net	609.9	759.1
Other assets, net	32.3	42.2
Total assets	2,778.3	3,211.8
Liabilities and Equity
Notes payable, revolver, and current portion of long-term debt	2,334.1	74.6
Advance payments and billings in excess of costs incurred	229.7	266.0
Accounts payable	317.3	221.1
Other accrued expenses	274.7	371.3
Total current liabilities	3,155.8	933.0
Long-term debt		2,055.1
Accrued pension benefits	490.9	349.4
Other long-term liabilities	78.9	75.1
Noncurrent deferred income tax liability, net	9.6	13.6
Total liabilities	3,735.2	3,426.2
Equity
Paid-in capital	1,007.3	1,004.5
Accumulated other comprehensive loss	(423.8)	(310.4)
Retained deficit	(1,544.8)	(912.0)
Total deficit attributable to parent company	(961.3)	(217.9)
Noncontrolling interest	4.4	3.5
Total deficit	(956.9)	(214.4)
Total liabilities and equity	$ 2,778.3	$ 3,211.8