Delaware
|
001-00496
|
51-0023450
|
||
(State
or other jurisdiction of
incorporation)
|
(Commission
File Number)
|
(IRS
Employer Identification
Number)
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
|
Pro
Forma Condensed Consolidated Balance Sheet
|
|||||||||||||
As
of December 31, 2005
|
|||||||||||||
(Dollars
in millions)
|
|||||||||||||
Pro
Forma
|
|||||||||||||
As
Reported
|
Adjustments
|
As
Adjusted
|
|||||||||||
ASSETS
|
|||||||||||||
Current
assets
|
|||||||||||||
Cash
and cash equivalents
|
$
|
77.3
|
$
|
-
|
$
|
77.3
|
|||||||
Accounts
receivable, net
|
291.0
|
-
|
291.0
|
||||||||||
Inventories
|
185.0
|
-
|
185.0
|
||||||||||
FiberVisions
assets held for sale
|
202.7
|
(202.7
|
)
|
(a)
|
|
-
|
|||||||
Other
current assets
|
87.4
|
-
|
87.4
|
||||||||||
Total
current assets
|
843.4
|
(202.7
|
)
|
640.7
|
|||||||||
Property,
plant and equipment, net
|
535.4
|
-
|
535.4
|
||||||||||
Goodwill
and intangible assets, net
|
583.8
|
-
|
583.8
|
||||||||||
Deferred
charges and other assets
|
606.2
|
26.0
|
(a)
|
|
632.2
|
||||||||
Total
assets
|
$
|
2,568.8
|
$
|
(176.7
|
)
|
$
|
2,392.1
|
||||||
LIABILITIES
AND STOCKHOLDERS' DEFICIT
|
|||||||||||||
Current
liabilities
|
|||||||||||||
Accounts
payable and accrued expenses
|
$
|
429.1
|
$
|
-
|
$
|
429.1
|
|||||||
FiberVisions
liabilities held for sale
|
66.6
|
(66.6
|
)
|
(a)
|
|
-
|
|||||||
Current
debt obligations
|
16.7
|
-
|
16.7
|
||||||||||
Total
current liabilities
|
512.4
|
(66.6
|
)
|
445.8
|
|||||||||
Long-term
debt
|
1,092.3
|
(107.2
|
)
|
(b)
|
|
985.1
|
|||||||
Pension
liability
|
323.4
|
-
|
323.4
|
||||||||||
Deferred
credits and other liabilities
|
665.4
|
-
|
665.4
|
||||||||||
Total
liabilities
|
2,593.5
|
(173.8
|
)
|
2,419.7
|
|||||||||
Total
stockholders' deficit
|
(24.7
|
)
|
(2.9
|
)
|
(a)
|
|
(27.6
|
)
|
|||||
Total
liabilities and stockholders' deficit
|
$
|
2,568.8
|
$
|
(176.7
|
)
|
$
|
2,392.1
|
Pro
Forma Condensed Consolidated Statement of Operations
|
|||||||||||||
For
the Year Ended December 31, 2005
|
|||||||||||||
(Dollars
in millions, except per share data)
|
|||||||||||||
Pro
Forma
|
|||||||||||||
As
Reported
|
Adjustments
|
As
Adjusted
|
|||||||||||
Net
sales
|
$
|
2,068.8
|
$
|
(282.7
|
)
|
(c)
|
|
$
|
1,786.1
|
||||
Cost
of sales
|
1,406.3
|
(261.4
|
)
|
(c)
|
|
1,144.9
|
|||||||
Selling,
general and administrative expenses
|
382.8
|
(13.4
|
)
|
(c)
|
|
369.4
|
|||||||
Research
and development
|
40.9
|
(2.7
|
)
|
(c)
|
|
38.2
|
|||||||
Intangible
asset amortization
|
8.0
|
(1.5
|
)
|
(c)
|
|
6.5
|
|||||||
Impairment
of FiberVisions goodwill
|
52.9
|
(52.9
|
)
|
(c)
|
|
-
|
|||||||
Other
operating expense
|
47.5
|
(5.4
|
)
|
(c)
|
|
42.1
|
|||||||
Profit
from operations
|
130.4
|
54.6
|
(c)
|
|
185.0
|
||||||||
Interest
and debt expense
|
89.4
|
(12.3
|
)
|
(c)(e)
|
|
77.1
|
|||||||
Other
expense, net
|
86.3
|
(0.4
|
)
|
(c)
|
|
85.9
|
|||||||
Loss
before income taxes and equity loss
|
(45.3
|
)
|
67.3
|
(c)(e)
|
|
22.0
|
|||||||
Benefit
for income taxes
|
(7.2
|
)
|
2.7
|
(c)(e)
|
|
(4.5
|
)
|
||||||
Loss
before equity loss
|
(38.1
|
)
|
64.6
|
(c)(e)
|
|
26.5
|
|||||||
Equity
loss of affiliated companies, net of tax
|
(0.5
|
)
|
(27.3
|
)
|
(c)(d)
|
|
(27.8
|
)
|
|||||
Net
loss from continuing operations
|
$
|
(38.6
|
)
|
$
|
37.3
|
(c)(d)(e)
|
|
$
|
(1.3
|
)
|
|||
Earnings
per share from continuing operations:
|
|||||||||||||
Basic
and diluted
|
$
|
(0.36
|
)
|
$
|
0.34
|
(c)(d)(e)
|
|
$
|
(0.01
|
)
|
|||
Weighted
average number of shares (millions)
|
108.7
|
-
|
108.7
|
||||||||||
April 6,
2006
|
By:
|
HERCULES
INCORPORATED
|
/s/
Allen A. Spizzo
|
||
Allen
A. Spizzo
|
||
Vice
President and Chief Financial
Officer
|