Attached files
| file | filename |
|---|---|
| 8-K - 8-K - GENERAL CABLE CORP /DE/ | bgc2015q2earnings8-k.htm |
| EX-99.1 - EXHIBIT 99.1 - GENERAL CABLE CORP /DE/ | exhibit991_earningsrelease.htm |
1 Debt Maturity Profile As of July 3, 2015 Debt Portion per US GAAP Letters of credit – 2018 Revolver Facility Available Equity Portion/Debt Discount – 2029 Converts Net Debt Q2 2015 Q4 2014 Diff Debt $1,187 $1,326 ($139) Cash (1) 94 107 13 Net Debt $1,093 $1,219 ($126) (1) Excludes cash of $8 million in Venezuela as of Q2 2015 and $30 million as of Q4 2014 (2) The Company’s asset base supports approximately $600 million of borrowings under its $1 billion credit facility as of July 3, 2015 (3) Includes standby letters of credit $238 $180 $600 $169 $41(3) $260 $375 $- $100 $200 $300 $400 $500 $600 $700 Short term Working Capital Lines (Mainly Latin America) 2018 ABL Revolver (2) 2022 Senior Notes 2029 Convertible Notes Exhibit 99.2
2 Segment Adjusted Operating Income Core Operations North America Operating Income Q1 Q2 Q3 Q4 Q1 Q2 In millions 2014 2014 2014 2014 2015 2015 As reported $ 32.7 $ 18.9 $ 46.9 $ 20.0 $ 29.6 $ 30.9 Adjustments to Reconcile Operating Income Restructuring and severance charges 1.0 12.7 - 4.6 5.3 5.4 Restatement and legal costs 2.9 3.7 2.5 3.9 4.9 2.9 Customer incentive - - - - - 4.6 Goodwill/intangibles asset impairment - 2.1 - - - - Foreign Corrupt Practices Act (FCPA) accrual - - - 24.0 - - Gain on the sale of divested assets - - - (17.6) (0.9) - Insurance claim settlement - - (5.0) (3.1) - - Total Adjustments 3.9 18.5 (2.5) 11.8 9.3 12.9 Adjusted $ 36.6 $ 37.4 $ 44.4 $ 31.8 $ 38.9 $ 43.8 Europe Operating Income Q1 Q2 Q3 Q4 Q1 Q2 In millions 2014 2014 2014 2014 2015 2015 As reported $ (10.3) $ 14.9 $ (108.1) $ 9.5 $ 5.9 $ (1.2) Adjustments to Reconcile Operating Income Restructuring and severance charges 1.1 - 106.1 10.2 9.1 0.8 Insurance claim settlements - - - (14.1) - - European Commission 2.5 - - - - - (Gain) loss on divested assets - - - - - 11.6 Total Adjustments 3.6 - 106.1 (3.9) 9.1 12.4 Adjusted $ (6.7) $ 14.9 $ (2.0) $ 5.6 $ 15.0 $ 11.2 Latin America Operating Income Q1 Q2 Q3 Q4 Q1 Q2 In millions 2014 2014 2014 2014 2015 2015 As reported $ (165.0) $ (15.2) $ (23.3) $ (43.1) $ (15.9) $ (2.5) Adjustments to Reconcile Operating Income Restructuring and severance charges - 10.2 13.5 8.5 2.8 3.1 Brazil impairment - - 13.1 - - - Brazil legal accrual - - - - 2.5 - Goodwill/intangibles asset impairment 152.0 Venezuela (income)/loss 4.2 1.1 (0.8) 37.6 5.1 (0.6) Total Adjustments 156.2 11.3 25.8 46.1 10.4 2.5 Adjusted $ (8.8) $ (3.9) $ 2.5 $ 3.0 $ (5.5) $ - Core Operations - Total Adjusted Operating Income $ 21.1 $ 48.4 $ 44.9 $ 40.4 $ 48.4 $ 55.0