ACL I Corp

CIK:0001535013|SEC Filings

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2012

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

NOTE 11.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) as of December 31, 2012, and December 31, 2011, consists of the following:


	2012			2011
Pension liability, net of tax provision of $20,768 and $14,998, respectively	$	(34,855	)	$	(24,649	)
Post retirement liability, net of tax benefit of $768 and $39, respectively		1,304			142
Gain (Loss) on fuel hedge, net of tax (provision) benefit of ($11) and $380, respectively		17			(652	)

	$	(33,534	)	$	(25,159	)

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	0 Months Ended	12 Months Ended
	Dec. 31, 2010	Dec. 31, 2012	Dec. 31, 2011
OPERATING ACTIVITIES
Net Loss	$ (6,635)	$ (2,373)	$ (32,135)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operating Activities:
Depreciation and Amortization	2,860	101,351	109,018
Debt Issuance Cost Amortization	(76)	766	32
Deferred Taxes	(1,600)	(8,664)	(24,646)
Gain on Property Dispositions		(9,040)	(2,048)
Contribution to Pension Plan		(7,330)	(8,831)
Share-Based Compensation	41	131	2,319
Gain on Insurance Claim		(11,442)
Other Operating Activities	59	(8,927)	(4,331)
Changes in Operating Assets and Liabilities:
Accounts Receivable	1,661	10,509	(4,715)
Inventory	1,802	11,553	(11,649)
Other Current Assets	5,070	12,204	16,714
Accounts Payable	2,593	(11,248)	1,035
Accrued Interest	881	34,351	25,530
Other Current Liabilities	1,376	10,914	(2,840)
Net Cash Provided by Operating Activities	8,032	122,755	63,453
INVESTING ACTIVITIES
Property Additions		(242,968)	(70,414)
Impact of Barge Scrapping Operations		34,565	6,556
Proceeds from Property Dispositions		18,734	3,860
Proceeds from Settlement of Insurance Claim		14,450
Proceeds from Sale of Elliott Bay			1,629
Other Investing Activities	(1,735)	(836)	(7,395)
Net Cash Used in Investing Activities	(1,735)	(176,055)	(65,764)
FINANCING ACTIVITIES
2016 PIK Toggle Notes Issued (net of discount)			245,625
Revolving Credit Facility Borrowings		256,551	245,649
Revolving Credit Facility Repayments	(18,894)	(199,501)	(240,880)
Bank Overdrafts on Operating Accounts	(9,090)	2,022	2,963
Debt Issuance/Refinancing Costs		(505)	(11,455)
Short Term Debt Repayments		(2,293)
Dividends Paid		(978)	(242,123)
Tax Benefit of Share-based Compensation	2,926	23	213
Net Cash Provided by (Used in) Financing Activities	(25,058)	55,319	(8)
Net Increase (Decrease) in Cash and Cash Equivalents	(18,761)	2,019	(2,319)
Cash and Cash Equivalents at Beginning of Period	22,468	1,388	3,707
Cash and Cash Equivalents at End of Period	3,707	3,407	1,388
Supplemental Cash Flow Information:
Interest Paid		41,793	31,149
Tax Refunds Received - Net		$ (6)	$ (11,111)

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Current Assets
Cash	$ 3,407	$ 1,388
Accounts Receivable, Net	76,859	87,368
Inventory	50,930	62,483
Deferred Tax Assets	4,407	6,390
Assets Held for Sale	1,311	1,612
Prepaid and Other Current Assets	18,241	19,328
Total Current Assets	155,155	178,569
Properties, Net	1,035,367	935,576
Investment in Equity Investees	4,340	6,470
Accounts Receivable, Affiliates	11,576	11,725
Other Assets	45,507	54,759
Goodwill	17,692	17,692
Total Assets	1,269,637	1,204,791
Current Liabilities
Accounts Payable	39,427	48,653
Accrued Payroll and Fringe Benefits	16,457	20,035
Deferred Revenue	11,906	15,251
Accrued Claims and Insurance Premiums	12,396	13,823
Accrued Interest	26,141	22,978
Short Term Debt	2,434
Other Current Liabilities	48,314	30,269
Total Current Liabilities	157,075	151,009
Long Term Debt	728,382	644,829
Pension and Post Retirement Liabilities	77,761	67,531
Deferred Tax Liabilities	159,184	168,365
Other Long Term Liabilities	32,216	46,335
Total Liabilities	1,154,618	1,078,069
SHAREHOLDER'S EQUITY
Other Capital	189,696	190,651
Retained Deficit	(41,143)	(38,770)
Accumulated other comprehensive loss	(33,534)	(25,159)
Total Shareholder's Equity	115,019	126,722
Total Liabilities and Shareholder's Equity	$ 1,269,637	$ 1,204,791