(b) Adjusted results are non-GAAP measures and for income measures exclude certain charges to cost of revenues (see note c for details); amortization of acquisition-related intangible assets and stock-based compensation (see note d for details); impairment charges (see note e for details); restructuring and other charges (see note f for details); and the tax consequences of the preceding items.
(c) Reported results in the three and twelve month periods ended December 31, 2012 and 2011 include charges for the sale of inventories and the depreciation of property, plant and equipment revalued at the date of acquisition, charges to cost of goods sold related to certain restructuring programs as well as charges attributable to manufacturing engineering modifications associated with certain specialty magnets.
(d) Reported results in the three and twelve month periods ended December 31, 2012 and 2011 include non-cash charges for the amortization of acquisition-related intangible assets.
(e) Reported results in the three and twelve month periods ended December 31, 2012 include goodwill, definite-lived intangible asset and other long-lived asset impairment charges.(f) Reported results in the three and twelve month periods ended December 31, 2012 and 2011 include certain fees associated with legal compliance and examinations, acquisition-related costs and other costs associated with the restructuring and relocation of certain operations. The twelve months ended December 31, 2012 also includes a gain on sale of a business. The twelve month period ended December 31, 2011 also includes deferred BEST public offering costs that were expensed. The charges described in notes c, d, e and f have been tax effected using enacted tax rates in the jurisdiction in which the charge was recorded. In addition, reported results for the three and twelve month periods ended December 31, 2011, include $3.3 million and $5.8 million, respectively, of provisions for income tax related to historical tax periods under audit.
|CONDENSED CONSOLIDATED BALANCE SHEETS|
|(in millions)||December 31,||December 31,|
|Cash and cash equivalents||$||310.6||$||246.0|
|Accounts receivable, net||289.3||282.8|
|Other current assets||98.3||89.1|
|Total current assets||1,309.7||1,194.1|
|Property, plant and equipment, net||283.6||249.0|
|Intangible and other long-term assets||263.1||267.4|
|LIABILITIES AND SHAREHOLDERS' EQUITY|
|Short-term borrowings, including current|
|portion of long-term debt||$||1.3||$||83.7|
|Other current liabilities||343.7||331.2|
|Total current liabilities||681.9||755.8|
|Other long-term liabilities||129.0||110.4|
|Total shareholders' equity||709.6||624.9|
|Total liabilities and shareholders' equity||$||1,856.4||$||1,710.5|
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