Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Mar. 28, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Registrant Name | 'Affinia Group Intermediate Holdings Inc. | ' |
Entity Central Index Key | '0001328655 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Current Reporting Status | 'No | ' |
Entity Voluntary Filers | 'Yes | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 1,000 |
Entity Public Float | $0 | ' |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Net sales | $1,361 | $1,259 | $1,266 |
Cost of sales | -1,043 | -967 | -979 |
Gross profit | 318 | 292 | 287 |
Selling, general and administrative expenses | -200 | -172 | -175 |
Operating profit | 118 | 120 | 112 |
Loss on extinguishment of debt | -15 | -1 | ' |
Other income (loss), net | -1 | 3 | 4 |
Interest expense | -73 | -63 | -67 |
Income from continuing operations before income tax provision, equity in income (loss), net of tax and noncontrolling interest | 29 | 59 | 49 |
Income tax provision | -22 | -45 | -28 |
Equity in income (loss), net of tax | -2 | 1 | ' |
Net income from continuing operations | 5 | 15 | 21 |
Income (loss) from discontinued operations, net of tax | 5 | -117 | -93 |
Net income (loss) | 10 | -102 | -72 |
Less: net income attributable to noncontrolling interest, net of tax | ' | 1 | 1 |
Net income (loss) attributable to the Company | $10 | ($103) | ($73) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | |||
Net income (loss) | $10 | ($102) | ($72) | |||
Other comprehensive loss, net of tax: | ' | ' | ' | |||
Pension liability adjustment | 1 | ' | -1 | |||
Change in foreign currency translation adjustments | -19 | [1] | -15 | [1] | -32 | [1] |
Change in fair value of interest rate swaps | 9 | [2] | ' | ' | ||
Reclassification adjustments included in net income | -2 | ' | ' | |||
Total other comprehensive loss | -11 | -15 | -33 | |||
Total comprehensive income (loss) | -1 | -117 | -105 | |||
Less: comprehensive income attributable to noncontrolling interest, net of tax | ' | 1 | 1 | |||
Comprehensive loss attributable to the Company | ($1) | ($118) | ($106) | |||
[1] | Net of $3 million tax expense in 2013, $4 million tax expense in 2012 and $1 million tax expense in 2011. | |||||
[2] | Net of $4 million tax expense in 2013. |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Change in foreign currency translation adjustments, tax expense | $3 | $4 | $1 |
Change in fair value of interest rate swaps, tax expense | $4 | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $101 | $51 |
Trade accounts receivable, less allowances | 141 | 163 |
Inventories, net | 221 | 304 |
Current deferred taxes | 39 | 13 |
Prepaid taxes | 29 | 30 |
Other current assets | 32 | 22 |
Current assets of discontinued operations | 141 | ' |
Total current assets | 704 | 583 |
Property, plant, and equipment, net | 123 | 119 |
Goodwill | 3 | 24 |
Other intangible assets, net | 60 | 88 |
Deferred financing costs | 18 | 15 |
Deferred income taxes | 80 | 106 |
Investments and other assets | 21 | 25 |
Total assets | 1,009 | 960 |
Liabilities and shareholder's equity (deficit) | ' | ' |
Accounts payable | 121 | 143 |
Notes payable | 23 | 23 |
Current maturities of long-term debt | 7 | ' |
Other accrued expenses | 78 | 68 |
Accrued payroll and employee benefits | 19 | 17 |
Current liabilities of discontinued operations | 31 | ' |
Total current liabilities | 279 | 251 |
Long-term debt, net of current maturities | 907 | 546 |
Deferred employee benefits and other noncurrent liabilities | 24 | 12 |
Total liabilities | 1,210 | 809 |
Contingencies and commitments | ' | ' |
Shareholder's equity (deficit): | ' | ' |
Common stock, $.01 par value, 1,000 shares authorized, issued and outstanding | ' | ' |
Additional paid-in capital | 456 | 455 |
Accumulated deficit | -638 | -296 |
Accumulated other comprehensive loss | -20 | -9 |
Total shareholder's equity (deficit) of the Company | -202 | 150 |
Noncontrolling interest in consolidated subsidiaries | 1 | 1 |
Total shareholder's equity (deficit) | -201 | 151 |
Total liabilities and shareholder's equity (deficit) | $1,009 | $960 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Trade accounts receivable, allowances | $2 | $3 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 1,000 | 1,000 |
Common stock, shares outstanding | 1,000 | 1,000 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholder's Equity (Deficit) (USD $) | Total | Common stock [Member] | Additional paid-in capital [Member] | Accumulated deficit [Member] | Other comprehensive income [Member] | Total shareholder's equity of the company [Member] | Noncontrolling Interest [Member] | |
In Millions | ||||||||
Beginning, balance at Dec. 31, 2010 | $448 | ' | $454 | ($57) | $39 | $436 | $12 | |
Stock-based compensation | 2 | ' | 2 | ' | ' | 2 | ' | |
Capital contribution | 2 | ' | 2 | ' | ' | 2 | ' | |
Net income (loss) | -72 | ' | ' | -73 | ' | -73 | 1 | |
Pension liability adjustment | -1 | ' | ' | ' | -1 | -1 | ' | |
Currency translation - net of tax | -32 | [1] | ' | ' | ' | -32 | -32 | ' |
Ending, balance at Dec. 31, 2011 | 347 | ' | 458 | -130 | 6 | 334 | 13 | |
Stock-based compensation | 1 | ' | 1 | ' | ' | 1 | ' | |
Noncontrolling interest decrease due to acquisition of additional ownership | -4 | ' | -4 | ' | ' | -4 | ' | |
Noncontrolling interest decrease due to distribution of BPI | -13 | ' | ' | ' | ' | ' | -13 | |
Distribution of BPI | -63 | ' | ' | -63 | ' | -63 | ' | |
Net income (loss) | -102 | ' | ' | -103 | ' | -103 | 1 | |
Pension liability adjustment | ' | ' | ' | ' | ' | ' | ' | |
Currency translation - net of tax | -15 | [1] | ' | ' | ' | -15 | -15 | ' |
Ending, balance at Dec. 31, 2012 | 151 | ' | 455 | -296 | -9 | 150 | 1 | |
Stock-based compensation | 1 | ' | 1 | ' | ' | 1 | ' | |
Net income (loss) | 10 | ' | ' | 10 | ' | 10 | ' | |
Dividends | -352 | ' | ' | -352 | ' | -352 | ' | |
Pension liability adjustment | 1 | ' | ' | ' | 1 | 1 | ' | |
Change in market value of interest rate swaps | 7 | ' | ' | ' | 7 | 7 | ' | |
Currency translation - net of tax | -19 | [1] | ' | ' | ' | -19 | -19 | ' |
Ending, balance at Dec. 31, 2013 | ($201) | ' | $456 | ($638) | ($20) | ($202) | $1 | |
[1] | Net of $3 million tax expense in 2013, $4 million tax expense in 2012 and $1 million tax expense in 2011. |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net income (loss) | $10 | ($102) | ($72) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 22 | 24 | 39 |
Impairment of assets | ' | 86 | 166 |
Stock-based compensation | 1 | ' | 2 |
Loss on extinguishment of debt | 15 | 1 | ' |
Write-off of unamortized deferred financing costs | 8 | ' | ' |
Write-off of original issue discount on Subordinated notes | 1 | ' | ' |
Provision for deferred income taxes | 26 | ' | -32 |
Change in trade accounts receivable | 6 | 23 | 14 |
Change in inventories | -3 | -22 | 8 |
Change in other current operating assets | -43 | 39 | -58 |
Change in other current operating liabilities | 24 | 38 | -47 |
Change in other | 32 | 10 | -6 |
Net cash provided by operating activities | 99 | 97 | 14 |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | 4 | 9 |
Investments in companies, net of cash acquired | -1 | ' | -1 |
Change in restricted cash | ' | ' | 5 |
Additions to property, plant, and equipment | -31 | -27 | -55 |
Other investing activities | ' | ' | 3 |
Net cash used in investing activities | -32 | -23 | -39 |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | -4 | -6 |
Payments of other debt | ' | -2 | -10 |
Proceeds from other debt | ' | ' | 20 |
Net proceeds from (payments of) ABL Revolver | ' | -110 | 20 |
Repayment on Secured Notes | -195 | -23 | ' |
Repayment on Subordinated Notes | -367 | ' | ' |
Dividend to Shareholder | -352 | ' | ' |
Repayment of Term Loans | -3 | ' | ' |
Capital contribution | ' | ' | 2 |
Proceeds from BPI's new credit facility | ' | 76 | ' |
Cash related to the deconsolidation of BPI | ' | -11 | ' |
Payment of deferred financing costs | -15 | -1 | ' |
Proceeds from Term Loans | 667 | ' | ' |
Proceeds from Senior Notes | 250 | ' | ' |
Purchase of noncontrolling interest | ' | -3 | ' |
Net cash provided by (used in) financing activities | -15 | -78 | 26 |
Effect of exchange rates on cash | -2 | 1 | -2 |
Increase (decrease) in cash and cash equivalents | 50 | -3 | -1 |
Cash and cash equivalents at beginning of period | 51 | 54 | 55 |
Cash and cash equivalents at end of period | 101 | 51 | 54 |
Supplemental cash flows information | ' | ' | ' |
Interest | 64 | 59 | 63 |
Income taxes | 20 | 21 | 27 |
Noncash investing and financing activities: | ' | ' | ' |
Additions to property, plant and equipment included in accounts payable | ' | $1 | $2 |
Organization_and_Description_o
Organization and Description of Business | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Organization and Description of Business | ' |
Note 1. Organization and Description of Business | |
Affinia Group Intermediate Holdings Inc. is a global leader in the light and commercial vehicle replacement products and services industry. We derive approximately 97% of our sales from this industry. Our broad range of filtration, chassis and other products are sold in North America, Europe, South America and Asia. Our brands include WIX®, Raybestos®, FiltronTM, Nakata®, McQuay-Norris® and ecoLAST®. Additionally, we provide private label products for NAPA®, CARQUEST® and ACDelco®. Affinia Group Inc. is wholly-owned by Affinia Group Intermediate Holdings Inc., which, in turn, is wholly-owned by Affinia Group Holdings Inc. (“Holdings”), a company controlled by affiliates of The Cypress Group L.L.C (“Cypress”). | |
Affinia Group Inc., the Company’s direct, wholly-owned subsidiary and a Delaware corporation formed on June 28, 2004, entered into a stock and asset purchase agreement on November 30, 2004, as amended (the “Purchase Agreement”), with Dana Corporation (“Dana”). The Purchase Agreement provided for the acquisition by Affinia Group Inc. of substantially all of Dana’s aftermarket business operations (the “Acquisition”). | |
The accompanying Consolidated Financial Statements include the accounts of the Company and its subsidiaries. In these Notes to the Consolidated Financial Statements, the terms “the Company,” “we,” “our” and “us” refer to Affinia Group Intermediate Holdings Inc. and its subsidiaries on a consolidated basis. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Note 2. Summary of Significant Accounting Policies | |
Principles of Consolidation | |
In accordance with ASC Topic 810, “Consolidation,” the consolidated financial statements include the accounts of Affinia and its wholly and majority owned subsidiaries and variable interest entities (“VIE”) for which Affinia (or one of its subsidiaries) is the primary beneficiary. All intercompany transactions have been eliminated. Equity investments in which we exercise significant influence but do not control are accounted for using the equity method. Investments in which we are not able to exercise significant influence over the investee are accounted for under the cost method. | |
Use of Estimates | |
The preparation of these consolidated financial statements requires estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Some of the more significant estimates include valuation of deferred tax assets and inventories; workers compensation; sales return, rebate and warranty accruals; restructuring, environmental and product liability accruals; valuation of postemployment and postretirement benefits and allowances for doubtful accounts. Actual results may differ from these estimates and assumptions. | |
Concentration of Credit Risk | |
The primary type of financial instruments that potentially subject the Company to concentrations of credit risk are trade accounts receivable. The Company limits its credit risk by performing ongoing credit evaluations of its customers and, when deemed necessary, requires letters of credit, guarantees or collateral. The majority of the Company’s accounts receivable is due from replacement parts wholesalers and retailers serving the aftermarket. | |
The Company’s net sales to its two largest customers as a percentage of total net sales from continuing operations for the year ended December 31, 2013, were 22%, and 6%; for the year ended December 31, 2012, were 23% and 6%; and for the year ended December 31, 2011, were 22% and 5%. Net sales represent the amounts invoiced to customers after adjustments related to rebates, returns and discounts. The Company provides reserves for rebates, returns and discounts at the time of sale which are subsequently applied to the account of specific customers based upon actual activity including the attainment of targeted volumes. The Company’s two largest customers’ accounts receivable as of December 31, 2013 represented approximately 11% and 5% of the total accounts receivable, which includes continuing operations. The Company’s two largest customers’ accounts receivable, which includes continuing and discontinued operations, as of December 31, 2012 represented approximately 23% and 5% of the total accounts receivable. The discontinued operations were the main contributing factor to the decrease in accounts receivable concentration as of December 31, 2013 in comparison to December 31, 2012. | |
Foreign Currency Translation | |
Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to Other Comprehensive Income. | |
Included in net income (loss) are the gains and losses arising from foreign currency transactions. The impact on income from continuing operations before income tax provision, equity in income and noncontrolling interest of foreign currency transactions including the results of our foreign currency hedging activities amounted to a loss of $1 million, gain of $2 million and loss of $6 million in 2011, 2012 and 2013, respectively. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include all cash balances and highly liquid investments with original maturities of three months or less. | |
Accounts receivable | |
We record trade accounts receivable when revenue is recorded in accordance with our revenue recognition policy and relieve accounts receivable when payments are received from customers. Generally, we do not require collateral for our accounts receivable. | |
Allowance for doubtful accounts | |
The allowance for doubtful accounts is established through charges to the provision for bad debts. We evaluate the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts, and management’s evaluation of business risk. This evaluation is inherently subjective, as it requires estimates that are susceptible to revision as more information becomes available. The allowance for doubtful accounts was $3 million and $2 million at December 31, 2012 and 2013, respectively. | |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined on the FIFO basis for all domestic inventories or average cost basis for non-U.S. inventories. | |
Goodwill | |
Goodwill is not amortized, but instead the Company evaluates goodwill for impairment, as of December 31 of each year, unless conditions arise that would require a more frequent evaluation. In assessing the recoverability of goodwill, we perform a qualitative or quantitative assessment to test for impairment annually. If we determine, on the basis of qualitative factors, that a quantitative impairment test is required estimated future cash flows and other factors are made to determine the fair value of the respective reporting unit. If these estimates or related projections change in the future, we may be required to record impairment charges for goodwill at that time. | |
Intangibles | |
We have trade names with indefinite lives and other intangibles with definite lives. We test trade names for impairment on an annual basis as of December 31 of each year, unless conditions arise that would require a more frequent evaluation. Trade names are tested for impairment by comparing the fair value to their carrying values. | |
Our intangibles with definite lives consist of customer relationships, patents and developed technology. These assets are amortized on a straight-line basis over estimated useful lives ranging from 5 to 20 years. Certain conditions may arise that could result in a change in useful lives or require us to perform a valuation to determine if the definite lived intangibles are impaired. | |
Deferred Financing Costs | |
Deferred financing costs are incurred to obtain long-term financing and are amortized using the effective interest method over the term of the related debt. The amortization of deferred financing costs is classified in interest expense in the statement of operations. | |
Properties and Depreciation | |
Fixed assets are being depreciated over their estimated remaining lives using primarily the straight-line method for financial reporting purposes and accelerated depreciation methods for federal income tax purposes. Major additions and improvements are capitalized and depreciated over their estimated useful lives, and repairs and maintenance are charged to expense in the period incurred. We review long-lived assets for impairment and generally accepted accounting principles require recognition of an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted cash flows. If the long-lived asset is not recoverable, we measure an impairment loss as the difference between the carrying amount and fair value of the asset. | |
Useful lives for buildings and building improvements, machinery and equipment, tooling and office equipment, furniture and fixtures principally range from 20 to 30 years, five to ten years, three to five years and three to ten years, respectively. Upon retirement or other disposal of fixed assets, the cost and related accumulated depreciation are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds is recorded as a gain or loss on disposition. | |
Revenue Recognition | |
Sales are recognized when products are shipped or received, depending on the contractual terms, and risk of loss has transferred to the customer. The Company estimates and records provisions for warranty costs, sales returns, rebates and other allowances based on experience and other relevant factors, when sales are recognized. The Company assesses the adequacy of its recorded warranty, sales returns, rebates and allowances liabilities on a regular basis and adjusts the recorded amounts as necessary. While management believes that these estimates are reasonable, actual warranty costs, actual returns, rebates and allowances may differ from estimates. Shipping and handling fees billed to customers are included in sales and the costs of shipping and handling are included in cost of sales. Inter-company sales have been eliminated. | |
Income Taxes | |
Income taxes are recognized during the period in which transactions enter into the determination of financial statement income, with deferred income taxes being provided for the tax effect of temporary differences between the carrying amount of assets and liabilities and their tax basis. Deferred income taxes are provided on the undistributed earnings of foreign subsidiaries and affiliated companies except to the extent such earnings are considered to be permanently reinvested in the subsidiary or affiliate. In cases where foreign tax credits will not offset U.S. income taxes, appropriate provisions are included in the combined or consolidated statement of operations. | |
The Company accounts for uncertain tax positions in accordance with ASC Topic 740, “Income Taxes.” Accordingly, the Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. | |
Financial Instruments | |
The reported fair values of financial instruments, consisting of cash and cash equivalents, trade accounts receivable and long-term debt, are based on a variety of factors. Where available, fair values represent quoted market prices for identical or comparable instruments. Where quoted market prices are not available, fair values are estimated based on assumptions concerning the implied market volatilities, amount and timing of estimated future cash flows and assumed discount rates reflecting varying degrees of credit and market risk. Fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. As of December 31, 2012 and 2013, the book value of some of our financial instruments, consisting of cash and cash equivalents and trade accounts receivable, approximated their fair values. The fair value of long-term debt is disclosed in “Note 9. Debt.” | |
Environmental Compliance and Remediation | |
Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to existing conditions caused by past operations which do not contribute to current or future revenue generation are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated. Estimated costs are based upon current laws and regulations, existing technology and the most probable method of remediation. The costs are not discounted and exclude the effects of inflation. If the cost estimates result in a range of equally probable amounts, the lower end of the range is accrued. | |
Advertising Costs | |
Advertising expenses included in continuing operations were $23 million, $20 million and $19 million for the years 2011, 2012, and 2013, respectively. The advertising expenses included in discontinued operations, were $10 million, $7 million and $2 million for the years 2011, 2012, and 2013, respectively. Advertising costs are recognized as selling expenses at the time advertising is incurred. | |
Promotional Programs | |
Cooperative advertising programs conducted with customers that promote the Company’s products are accrued as a rebate based on anticipated total amounts to be rebated to customers over the period of the agreement with the customer. Aftermarket distributors typically source their product lines at a particular price point and product category with one “full-line” supplier, such as our company, which covers substantially all of their product requirements. Switching to a new supplier typically requires that a distributor or supplier make a substantial investment to purchase, or “changeover” to, the new supplier’s products. The changeover costs and other incentives incurred in connection with obtaining new business are recognized as selling expense in the period in which the changeover from a competitor’s product to the Company’s product occurs. Infrequently, we enter into a contract with a customer for a set period of time that requires the reimbursement of the incentive by the customer if the future conditions of the contract are not met. In these infrequent cases the incentive is recorded as a reduction of revenue over the life of the contract. | |
Insurance | |
We use a combination of insurance and self-insurance for a number of risks, including workers’ compensation, general liability, vehicle liability and the Company-funded portion of employee-related health care benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. | |
Research and Development Costs | |
Research and development expenses included in continuing operations are charged to operations as incurred. The Company incurred less than $1 million for the years ended 2011, 2012 and 2013. | |
Free-Standing Derivatives | |
The Company is subject to various financial risks during the normal course of business operations, including but not limited to, adverse changes to interest rates, currency exchange rates, counterparty creditworthiness, and commodity prices. Pursuant to prudent risk management principles, the Company may utilize appropriate financial derivative instruments in order to mitigate the potential impact of these factors. The Company’s policies strictly prohibit the use of derivatives for speculative purposes. | |
The Company uses derivative financial instruments, from time to time, to manage the risk that changes in interest rates will have on the amount of future interest payments. Interest rate swap contracts are used to adjust the proportion of total debt that is subject to variable versus fixed interest rates. Under these agreements, the Company agrees to pay an amount equal to a specified fixed rate times a notional principal amount, and to receive an amount equal to a specified variable rate times the same notional principal amount or vice versa. The notional amounts of the contract are not exchanged. No other cash payments are made unless the contract is terminated prior to maturity, in which case the amount paid or received in settlement is established by agreement at the time of termination and will represent the net present value, at current rates of interest, of the remaining obligation to exchange payments under the terms of the contract. The Company measures hedge effectiveness, at least quarterly, by using the hypothetical derivative method. | |
In 2012 and 2013, the Company’s derivative instrument usage was standard currency forward contracts and interest rate swaps. The currency forward contracts are intended to offset the earnings impact related to the periodic revaluation of specific non-functional currency denominated monetary working capital accounts and intercompany financing arrangements. The Company does not seek hedge accounting treatment for its currency forward contacts because the earnings impact from both the underlying exposures and the hedge transactions are recognized in each accounting period. The Company uses interest rate swaps to manage the ratio of net floating-rate debt to total debt outstanding, thereby reducing the potential impact that interest rate variability may have on our consolidated financial results. We have designated our interest rate swaps as “cash flow” hedges as described in ASC 815, “Derivatives and Hedging” (“ASC 815”). | |
Stock-Based Compensation | |
We account for the employee stock options under the fair value method of accounting using a Black-Scholes model to measure stock-based compensation expense at the date of grant. The compensation expense for the year was nil in each of 2011, 2012 and 2013. | |
On July 20, 2005, Affinia Group Holdings Inc. adopted the 2005 Stock Plan. The 2005 Stock Plan was amended on August 25, 2010 and on December 2, 2010 to increase the maximum shares of common stock that may be subject to awards. The 2005 Stock Plan permits the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock and other stock-based awards to employees, directors or consultants of the Company and its affiliates. A maximum of 350,000 shares of common stock may be subject to awards under the 2005 Stock Plan. The number of shares issued or reserved pursuant to the 2005 Stock Plan (or pursuant to outstanding awards) is subject to adjustment on account of mergers, consolidations, reorganizations, stock splits, stock dividends and other dilutive changes in the common stock. Shares of common stock covered by awards that terminate or lapse and shares delivered by a participant or withheld to pay the minimum statutory withholding rate, in each case, will again be available for grant under the 2005 Stock Plan. Refer to “Note 11. Stock Incentive Plan” for further information on and discussion of our stock options. | |
On August 25, 2010 and December 23, 2011, Affinia Group Holdings Inc. commenced an offer to certain eligible holders of stock options to exchange their existing options to purchase shares of Affinia Group Holdings Inc. common stock for restricted stock unit awards (“RSUs”). The RSUs granted in connection with the option exchange are governed by the 2005 Stock Plan and a new Restricted Stock Unit Agreement. The RSUs are subject to performance-based and market-based vesting restrictions, which differ from the performance and time-based vesting restrictions applicable to the exchanged stock options. We will estimate the fair value of restricted stock unit awards using the value of Affinia Group Holdings Inc.’s common stock on the date of grant, reduced by the present value of Affinia Group Holdings Inc.’s common stock prior to vesting. The fair value of the RSUs will be expensed either pro rata over the requisite service term or in full if the requisite service period has passed when the RSUs vest in accordance with the performance conditions listed above. Stock-based compensation expense, which would be recorded in selling, general and administrative expenses, and tax related income tax benefits was not recorded for 2011, 2012 or 2013 as the performance condition had not been met. In addition, during 2013, 14,124 new RSUs were granted to a new employee. The new employee received 7,062 RSUs based on the same performance conditions as the previously issued RSUs. The employee also received 7,062 time-based RSUs which will vest in four equal annual installments from the anniversary date of the employee’s commencement of employment, which was in 2013. | |
Deferred Compensation Plan | |
We started a deferred compensation plan in 2008 that permits executives to defer receipt of all or a portion of the amounts payable under our non-equity incentive compensation plan. All amounts deferred are treated solely for purposes of the plan to have been notionally invested in the common stock of Affinia Group Holdings Inc. As such, the accounts under the plan will reflect investment gains and losses associated with an investment in Affinia Group Holdings Inc.’s common stock. We match 25% of the deferral with an additional notional investment in common stock of Affinia Group Holdings Inc., which is subject to vesting as provided in the plan. | |
New Accounting Pronouncements | |
Adopted Accounting Pronouncements | |
In February 2013, the FASB issued Accounting Standards Update (“ASU”) 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. This guidance is effective for reporting periods beginning after December 15, 2012. The implementation of ASU 2013-02 resulted in financial statement disclosure changes only. | |
Accounting Pronouncements Not Yet Adopted | |
In July 2013, the FASB issued ASU 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes.” ASU 2013-10 allows the Fed Funds Effective Swap Rate (OIS) to be designated as a U.S. benchmark interest rate for hedge accounting purposes, in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate. The amendments also remove the restriction on using different benchmark rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The Company does not anticipate the requirements of ASU 2013-10 will have a material impact on the consolidated financial statements because it currently has not entered into any new or redesignated hedging relationships that meet these requirements. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance is effective for annual reporting periods beginning on or after December 15, 2013 and subsequent interim periods. The Company is currently assessing the impact, if any, on the consolidated financial statements. | |
In March 2013, the FASB issued ASU No. 2013-05, “Foreign Currency Matters (Topic 830) — Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity.” ASU No. 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, Foreign Currency Matters—Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. This ASU is effective prospectively for the first annual period beginning after December 15, 2013. The Company is currently assessing the impact, if any, on the consolidated financial statements. |
Discontinued_Operation
Discontinued Operation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Chassis [Member] | ' | ||||||||||||
Discontinued Operation | ' | ||||||||||||
Note 3. Discontinued Operation—Chassis | |||||||||||||
On January 21, 2014, Affinia Group Inc., a direct wholly owned subsidiary of Affinia Group Intermediate Holdings Inc., entered into an Asset Purchase Agreement (the “Agreement”) with VCS Quest Acquisition LLC (“VCS”), an affiliate of Federal-Mogul Corporation, pursuant to which VCS agreed to purchase the Chassis group. The closing of the transaction is subject to the receipt of regulatory approvals and satisfaction of other customary closing conditions. In accordance with ASC Topic 205, “Presentation of Financial Statements,” the Chassis group qualified as a discontinued operation as we committed to a plan to sell the Chassis group in the fourth quarter of 2013. The consolidated statements of operations for all periods presented have been adjusted to reflect this group as a discontinued operation. The consolidated statements of cash flows for all periods presented were not adjusted to reflect this group as a discontinued operation. | |||||||||||||
In connection with the transaction, Affinia will receive $150 million in cash from VCS plus or minus an adjustment reflecting an estimate of the working capital of the Chassis group, calculated in accordance with a process established in the Agreement. The Chassis group held $1 million in cash that will be excluded from the transaction. On the date of the transaction, we will no longer have any influence over the Chassis group. Consequently, we will deconsolidate the Chassis group on the date of the transaction. | |||||||||||||
The table below summarizes the Chassis group’s net sales, income before income tax provision, income tax provision and income attributable to the discontinued operations. | |||||||||||||
(Dollars in millions) | 2011 | 2012 | 2013 | ||||||||||
Net sales | $ | 213 | $ | 194 | $ | 189 | |||||||
Income before income tax provision | 29 | 10 | 15 | ||||||||||
Income tax provision | (9 | ) | (3 | ) | (10 | ) | |||||||
Income from discontinued operations, net of tax | $ | 20 | $ | 7 | $ | 5 | |||||||
The amounts for 2012 related to the Chassis group are not reclassified to current assets of discontinued operations and current liabilities of discontinued operations on the balance sheet. The following table shows the Chassis group assets and liabilities that are included in held for sale as of December 31, 2013: | |||||||||||||
(Dollars in millions) | |||||||||||||
Cash | $ | 1 | |||||||||||
Accounts receivable | 9 | ||||||||||||
Inventory | 74 | ||||||||||||
Other current assets | 4 | ||||||||||||
Property, plant and equipment | 8 | ||||||||||||
Goodwill | 22 | ||||||||||||
Other intangible assets | 22 | ||||||||||||
Other assets | 1 | ||||||||||||
Total assets of discontinued operations | $ | 141 | |||||||||||
Accounts payable | $ | 18 | |||||||||||
Other accrued expenses | 12 | ||||||||||||
Accrued payroll and employee benefits | 1 | ||||||||||||
Total liabilities of discontinued operations | $ | 31 | |||||||||||
Brake [Member] | ' | ||||||||||||
Discontinued Operation | ' | ||||||||||||
Note 4. Discontinued Operation—Brake | |||||||||||||
In the fourth quarter of 2011, we committed to a plan to sell the Brake North America and Asia group. In accordance with ASC Topic 205, “Presentation of Financial Statements,” the Brake North America and Asia group qualified as a discontinued operation. The consolidated statements of operations for all periods presented have been adjusted to reflect this group as a discontinued operation. The consolidated statements of cash flows for all periods presented were not adjusted to reflect this group as a discontinued operation. | |||||||||||||
On November 30, 2012, we distributed our Brake North America and Asia group to the shareholders of Holdings, the Company’s parent company and sole stockholder. The new organization is led by the management team from the Company’s former Brake North America and Asia group, with oversight provided by a separate board of directors. On March 25, 2013, the new organization announced that it had been acquired by a group of investors. | |||||||||||||
To effect the transaction, we distributed 100% of the capital stock of BPI Holdings International, Inc. (“BPI”), an entity formed for the purpose of completing the transaction and which owns the assets and operations comprising the Company’s former Brake North America and Asia group, to Holdings. Thereafter, Holdings distributed such capital stock to the holders of Holdings common stock and to the holders of Holding’s 9.5% Class A Convertible Participating Preferred Stock, par value $0.01 per share (“Preferred Stock”), on a pro rata basis as if each of the shares of Preferred Stock outstanding at the time of the distribution had been converted into Holdings common stock in accordance with its terms prior to the distribution. The fair value of the capital stock distributed to the shareholders of Holdings was $63 million. In addition, noncontrolling interest decreased by $13 million due to the distribution of BPI. | |||||||||||||
In connection with the distribution, the Company received a $70 million cash dividend from BPI, which BPI funded through $76.5 million in borrowings under a new credit facility that is not guaranteed by, or an obligation of, the Company or any of its subsidiaries. BPI held $11 million in cash that was included in the distribution on November 30, 2012. | |||||||||||||
Affinia and BPI entered into a transition services agreement (“TSA”) effective with the distribution on November 30, 2012. The TSA provides for certain administrative and other services and support to be provided by us to BPI and to be provided by BPI to us. Most of the transition services expired during 2013, but the distribution services will continue in 2014. The TSAs and the distribution services were established as arm length transactions and are intended for the contracting parties to recover costs of the services. On the date of the distribution, we no longer had any influence over BPI. We evaluated all potential variable interests between Affinia and BPI and determined that we are not the primary beneficiary of BPI. Consequently, we deconsolidated BPI on the date of the distribution. | |||||||||||||
The table below summarizes the Brake North America and Asia group’s net sales, loss before income tax provision, income tax provision, income (loss) from discontinued operations, net of tax, net income attributable to noncontrolling interest, net of tax and loss attributable to the discontinued operations. | |||||||||||||
(Dollars in millions) | 2011 | 2012 | |||||||||||
Net sales | $ | 637 | $ | 582 | |||||||||
Loss before income tax benefit (provision) | (174 | ) | (91 | ) | |||||||||
Income tax benefit (provision) | 61 | (33 | ) | ||||||||||
Income (loss) from discontinued operations, net of tax | (113 | ) | (124 | ) | |||||||||
Less: net income attributable to noncontrolling interest, net of tax | 1 | 1 | |||||||||||
Loss attributable to the discontinued operations | $ | (114 | ) | $ | (125 | ) | |||||||
We entered into an Asset Purchase Agreement with Carter Automotive Company Inc. (“Carter”) on June 28, 2012, pursuant to which Carter purchased certain assets located in our Juarez, Mexico facility, which is included in our Brake North America and Asia group, for $2.5 million. The transaction resulted in an impairment and loss on sale of $6 million on fixed assets and inventory for the second quarter of 2012. | |||||||||||||
The Company determined at the end of 2011 that the net carrying value of the Brake North America and Asia group may not be recoverable through the sales process. At the end of 2011, the fair value of the Brake North America and Asia group assets held for sale were determined based on current market data, discounted cash flow model and observable valuation multiples for comparable companies. As a result, an impairment charge of $165 million was recorded within discontinued operations in 2011 to reduce the carrying value of the business to expected realizable value. A tax benefit to the Company of $57 million was recorded in 2011 relating to the impairment. | |||||||||||||
The carrying value of the capital stock of BPI exceeded the fair value of the disposal group, which resulted in an additional impairment of $86 million in 2012. The loss on discontinued operations before income tax provision for 2012 is $91 million and is comprised of the $86 million impairment and an operational loss of $5 million. The income tax provision related to discontinued operations was $33 million. |
Inventories_net
Inventories, net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories, net | ' | ||||||||
Note 5. Inventories, net | |||||||||
Inventories are valued at the lower of cost or market. Cost is determined on the FIFO basis for all domestic inventories or average cost basis for non-U.S. inventories. Inventories are reduced by an allowance for slow-moving and obsolete inventories based on management’s review of on-hand inventories compared to historical and estimated future sales and usage. A summary of inventories, net is provided in the table below: | |||||||||
(Dollars in millions) | At December 31, | At December 31, | |||||||
2012 | 2013(1) | ||||||||
Raw materials | $ | 77 | $ | 67 | |||||
Work-in-process | 19 | 17 | |||||||
Finished goods | 208 | 137 | |||||||
$ | 304 | $ | 221 | ||||||
-1 | The inventory as of December 31, 2013 excludes $74 million of inventory in our Chassis group, which is classified in current assets of discontinued operations. |
Goodwill
Goodwill | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Goodwill | ' | ||||
Note 6. Goodwill | |||||
Goodwill as of December 31, 2013 was $3 million, which relates to our Filtration segment, and consists of one acquisition in 2013 and one acquisition in 2008. In the third quarter of 2013, we acquired a small distributor of filtration products in the UK. We also have $22 million related to our Chassis group that is recorded in current assets of discontinued operations. | |||||
In accordance with ASC Topic 805-740, the tax benefit for the excess of tax-deductible goodwill over the reported amount of goodwill was applied to first reduce the goodwill related to the initial acquisition in 2004. The tax benefit for the excess of tax deductible goodwill reduced reported goodwill by $4 million during 2012. The reported amount of goodwill for the 2004 acquisition was reduced to zero, and the remaining tax benefit will reduce the basis of intangible assets purchased in the 2004 acquisition. Any remaining tax benefit reduces the income tax provision. | |||||
The following table summarizes our goodwill activity, which is related to our Filtration segment and our Chassis group, during 2012 and 2013: | |||||
(Dollars in millions) | |||||
Balance at December 31, 2011 | $ | 28 | |||
Tax benefit reductions | (4 | ) | |||
Balance at December 31, 2012 | $ | 24 | |||
Goodwill related to Chassis group reclassified to discontinued operations | (22 | ) | |||
Acquisition | 1 | ||||
Balance at December 31, 2013 | $ | 3 | |||
Other_Intangible_Assets
Other Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Intangible Assets | ' | ||||||||||||||||
Note 7. Other Intangible Assets | |||||||||||||||||
As of December 31, 2012 and 2013, the Company’s other intangible assets primarily consisted of trade names, customer relationships, and developed technology. The Company recorded approximately $9 million, $6 million and $3 million of intangible asset amortization in 2011, 2012 and 2013, respectively, which includes $6 million, $2 million and $1 million for 2011, 2012 and 2013, respectively, related to our discontinued operations. The discontinued operations for our Brake North America and Asia group and the Chassis group ceased amortization in 2012 and at the end of 2013, respectively, because the groups were classified in current assets of discontinued operations. We anticipate amortization of less than $1 million for 2014 through 2019 on a continuing basis. Amortization expense is calculated on a straight line basis over 5 to 20 years. We determine on a periodic basis whether the lives and the method for amortization are accurate. | |||||||||||||||||
For the goodwill and intangible assets associated with the 2004 acquisition, in accordance with ASC Topic 805-740, the tax benefit for the excess of tax-deductible goodwill over the reported amount of goodwill was applied to first reduce the goodwill related to the acquisition to zero. The reported amount of goodwill for the 2004 acquisition was reduced to zero in 2013 and the remaining tax benefit will reduce the basis of intangible assets purchased in the 2004 acquisition. The tax benefit for the excess of tax deductible goodwill reduced intangible assets by approximately $4 million during 2013. | |||||||||||||||||
Trade names are tested for impairment annually as of December 31 of each year by comparing their fair value to their carrying values. The fair value for each trade name was established based upon a royalty savings approach. We determined that there were impairments of other intangible assets of less than $1 million in 2012 and 2013. A rollforward of the other intangibles and trade names for 2012 and 2013 is shown below: | |||||||||||||||||
(Dollars in millions) | Trade | Customer | Developed | Total | |||||||||||||
Names | Relationships | Technology/ | |||||||||||||||
Other | |||||||||||||||||
Balance at December 31, 2011(1) | $ | 36 | $ | 47 | $ | 11 | $ | 94 | |||||||||
Amortization | — | (4 | ) | (2 | ) | (6 | ) | ||||||||||
Balance at December 31, 2012 | 36 | 43 | 9 | 88 | |||||||||||||
Amortization | — | (2 | ) | (1 | ) | (3 | ) | ||||||||||
Tax benefit reductions | (1 | ) | (2 | ) | (1 | ) | (4 | ) | |||||||||
Additions | — | 1 | — | 1 | |||||||||||||
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | (5 | ) | (13 | ) | (4 | ) | (22 | ) | |||||||||
Balance at December 31, 2013 | $ | 30 | $ | 27 | $ | 3 | $ | 60 | |||||||||
-1 | The intangible assets as of December 31, 2011 exclude $53 million of intangible assets in our Brake North America and Asia group, which were classified in current assets of discontinued operations. | ||||||||||||||||
Accumulated amortization for the intangibles was $39 million and $42 million as of December 31, 2012 and 2013, respectively. The weighted average amortization period by class of intangible was the following: 19 years for customer relationships and 17 years for developed technology and other intangibles. |
Derivatives
Derivatives | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Derivatives | ' | ||||||||||||
Note 8. Derivatives | |||||||||||||
The Company’s financial derivative assets and liabilities consist of standard currency forward contracts and interest rate swaps. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: | |||||||||||||
• | Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. | ||||||||||||
• | Level 2: Observable inputs other than those included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. | ||||||||||||
• | Level 3: Unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability. | ||||||||||||
All derivative instruments are recognized on our balance sheet at fair value using observable market data information reported by recognized independent third-party financial information providers. The fair value measurements of our interest rate swap contracts and currency forward contracts are based upon Level 2 inputs. The amount shown for the fair value of the Company’s interest rate swaps are based on the applicable prevailing interest rates as of year-end. The Company’s currency forward transactions fair value amounts reflect the applicable prevailing currency forward rates at year-end. Based upon the Company’s periodic assessment of our own creditworthiness, and of the creditworthiness of the counterparties to our derivative instruments, fair value measurements are not adjusted for incremental credit or liquidity risk. | |||||||||||||
Assets and liabilities measured at fair value are based on one or more of the following three valuation techniques noted in FASB ASC 820: | |||||||||||||
A. | Income approach: Techniques to convert future amounts to a single present amount based upon market expectations (including present value techniques, option-pricing and excess earnings models). | ||||||||||||
B. | Market approach: Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. | ||||||||||||
C. | Cost approach: Amount that would be required to replace the service capacity of an asset (replacement cost). | ||||||||||||
Our fair value of interest rate swaps and our currency forward contract derivatives at December 31, 2013 and 2012 are set forth in the table below: | |||||||||||||
(Dollars in Millions) | Asset | Level 2 | Valuation | ||||||||||
(Liability) | Technique | ||||||||||||
December 31, 2013: | |||||||||||||
Interest rate swap contracts | $ | 11 | $ | 11 | A | ||||||||
Foreign currency forward contracts | — | — | A | ||||||||||
December 31, 2012: | |||||||||||||
Foreign currency forward contracts | $ | — | $ | — | A | ||||||||
Currency Forward Contract Derivatives | |||||||||||||
Our currency forward contracts are valued using then-current spot and forward market data as provided by external financial institutions. We enter into short-term currency forward contracts with banking institutions of only the highest tiered credit ratings and thus the counterparty credit risk associated with these contracts is not considered significant. | |||||||||||||
Our currency forward contracts are not designated as hedges of specific monetary asset balances subject to currency risks. Changes in the fair value of these currency forward contracts are recognized in income each accounting period. At December 31, 2013, the aggregate notional amount of our currency forward contracts was $86 million having a fair market value of less than $1 million in assets and liabilities. | |||||||||||||
The Company’s outstanding currency forward contracts are recorded in the Consolidated Balance Sheets as “Other current assets” or “Other accrued expenses,” accordingly. Currency forward contract gains and losses are recognized in “Other income (loss), net” in the Consolidated Statements of Operations in the reporting period of occurrence. The Company has not recorded currency forward contract gains (losses) to other comprehensive income (loss) nor has it reclassified prior period currency derivative results from other comprehensive income (loss) to earnings during the last twelve months. The Company does not anticipate that it will record any currency forward contract gains or losses to other comprehensive income (loss) or that it will reclassify prior period currency forward contract results from other comprehensive income (loss) to earnings in the next twelve months. | |||||||||||||
The notional amount of our outstanding currency forward contracts were as follows: | |||||||||||||
(Dollars in millions) | Notional | ||||||||||||
Amount | |||||||||||||
As of December 31, 2013 | $ | 86 | |||||||||||
As of December 31, 2012 | $ | 69 | |||||||||||
Currency forward contract gains and losses are recognized in “Other income (loss), net” in the Consolidated Statements of Operations in the reporting period of occurrence. The short-term currency exchange rate forward contracts are intended to offset the currency exchange gain (loss) related to the re-measurement process. The currency forward contract gains and losses are as follows: | |||||||||||||
(Dollars in millions) | Year | Year | Year | ||||||||||
Ended | Ended | Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
Gain (loss) on derivative instruments | $ | 1 | $ | 2 | $ | 1 | |||||||
Interest Rate Derivatives | |||||||||||||
On April 25, 2013, we entered into interest rate swaps having an aggregate notional value of $300 million to effectively fix the rate of interest on a portion of our Term Loan B-2 until April 25, 2020. The Company funds its business operations with a combination of fixed and floating-rate debt. Therefore, our reported results from operations may be adversely impacted by rising interest rates. The Company’s interest rate risk policy seeks to minimize the long-term cost of debt, subject to a limitation of the maximum percentage of net floating-rate debt versus total debt outstanding. | |||||||||||||
While our policy does not require that we maintain a specific ratio of net floating-rate debt as a proportion of total debt outstanding, we use interest rate swaps to manage the ratio of net floating-rate debt to total debt outstanding within our policy target range, thereby reducing the potential impact that interest rate variability may have on our consolidated financial results. Our policy strictly prohibits the use of interest rate derivatives to generate trading profits or to otherwise speculate on interest rate movements. | |||||||||||||
We have designated our interest rate swaps as “cash flow” hedges as described in ASC 815, “Derivatives and Hedging” (“ASC 815”). At the inception of the hedge, the Company formally documents its hedge relationships and risk management objectives and strategy for undertaking the hedge. In addition, the documentation identifies the interest rate swaps as a hedge of specific interest payments on variable rate debt, with the objective to perfectly offset the variability of interest expense as related to specific floating-rate debt. We also specify that the effectiveness of the interest rate swaps in mitigating interest expense variability shall be assessed using the “Hypothetical Derivative Method” as described in ASC 815. | |||||||||||||
The interest rate swaps are recorded in the Consolidated Balance Sheets as “Other current assets” or “Other accrued expenses,” accordingly. In compliance with ASC 815, the Company formally assesses the effectiveness of its interest rate swaps at inception and on a quarterly basis thereafter. These assessments have established that swaps have been, and are expected to continue to be, highly effective at offsetting the interest expense variability of the underlying floating rate debt and are therefore eligible for cash flow hedge accounting treatment, pursuant to ASC 815. | |||||||||||||
Changes in the fair value of derivatives designated as cash flow hedges are recorded to other comprehensive income (loss), to the extent such cash flow hedges are effective. Amounts are reclassified from other comprehensive income (loss) when the underlying hedged items are recognized, during the period that a hedge transaction is terminated, or whenever a portion of the hedge transaction results are deemed ineffective. We reclassified $2 million from other comprehensive income (loss) into interest expense in 2013. There have been no gains or losses reclassified from other comprehensive income (loss) into earnings due to hedge ineffectiveness related to any of the Company’s interest rate swap transactions, nor were there gains or losses reclassified to income due to early termination of designated cash-flow hedge transactions as of December 31, 2013. | |||||||||||||
The notional amount of interest rate swaps outstanding are as follows: | |||||||||||||
(Dollars in millions) | Notional Amount | ||||||||||||
As of December 31, 2013 | $ | 300 | |||||||||||
As of December 31, 2012 | $ | — |
Debt
Debt | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Debt | ' | ||||||||||||
Note 9. Debt | |||||||||||||
Debt consists of the following: | |||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||
2012 | 2013 | ||||||||||||
9% Senior subordinated notes, due November 2014 | $ | 367 | $ | — | |||||||||
10.75% Senior secured notes, due August 2016 | 179 | — | |||||||||||
7.75% Senior notes, due May 2021 | — | 250 | |||||||||||
Term Loan B-1, due April 2016 | — | 199 | |||||||||||
Term Loan B-2, due April 2020 | — | 465 | |||||||||||
ABL revolver, due April 2018 | — | — | |||||||||||
Other debt | 23 | 23 | |||||||||||
569 | 937 | ||||||||||||
Less: current portion(1) | (23 | ) | (30 | ) | |||||||||
$ | 546 | $ | 907 | ||||||||||
-1 | The current portion consists of $20 million related to our Poland operations with a rate of one month LIBOR plus 0.9 points and $3 million related to our China operations as of December 31, 2012 and December 31, 2013. Additionally, the current portion includes $7 million of current maturities of long-term debt as of December 31, 2013. | ||||||||||||
Scheduled maturities of debt for each of the next five years and thereafter are as follows: | |||||||||||||
(Dollars in millions) | Amount | ||||||||||||
Year | |||||||||||||
2014 | $ | 30 | |||||||||||
2015 | 7 | ||||||||||||
2016 | 199 | ||||||||||||
2017 | 5 | ||||||||||||
2018 | 4 | ||||||||||||
2019 and thereafter | 692 | ||||||||||||
Total debt | $ | 937 | |||||||||||
The fair value of debt is as follows: | |||||||||||||
Fair Value of Debt at December 31, 2012 | |||||||||||||
(Dollars in millions) | Book | Fair | Fair | ||||||||||
Value | Value | Value | |||||||||||
of Debt | Factor | of Debt | |||||||||||
Senior subordinated notes, due November 2014(1) | $ | 367 | 100.25 | % | $ | 368 | |||||||
Senior secured notes, due August 2016(1) | 179 | 108.43 | % | 194 | |||||||||
ABL revolver, due May 2017(2) | — | 100 | % | — | |||||||||
Other debt(2) | 23 | 100 | % | 23 | |||||||||
Total fair value of debt at December 31, 2012 | $ | 585 | |||||||||||
Fair Value of Debt at December 31, 2013 | |||||||||||||
(Dollars in millions) | Book Value | Fair Value | Fair Value | ||||||||||
of Debt | Factor | of Debt | |||||||||||
Senior notes, due May 2021(1) | $ | 250 | 96.06 | % | $ | 240 | |||||||
Term Loan B-1, due April 2016(1) | 199 | 100.63 | % | 200 | |||||||||
Term Loan B-2, due April 2020(1) | 465 | 101.38 | % | 471 | |||||||||
ABL revolver, due April 2018(2) | — | 100 | % | — | |||||||||
Other debt(2) | 23 | 100 | % | 23 | |||||||||
Total fair value of debt at December 31, 2013 | $ | 934 | |||||||||||
-1 | The fair value of the long-term debt was estimated based on quoted market prices obtained through broker or pricing services and categorized within Level 2 of the hierarchy. The fair value of our debt that is publicly traded in the secondary market is classified as Level 2 and is based on current market yields obtained through broker or pricing services. | ||||||||||||
-2 | The carrying value of fixed rate short-term debt approximates fair value because of the short term nature of these instruments, and the carrying value of the Company’s current floating rate debt instruments approximates fair value because of the variable interest rates pertaining to those instruments. The fair value of debt is categorized within Level 2 of the hierarchy. | ||||||||||||
ABL Revolver | |||||||||||||
We replaced our Old ABL Revolver with a new ABL Revolver on April 25, 2013. The ABL Revolver comprises a revolving credit facility of up to $175 million for borrowings available solely to the U.S. domestic borrowers, including (a) a $30 million sub-limit for letters of credit and (b) a $15 million swingline facility. Availability under the ABL Revolver is based upon monthly (or more frequent under certain circumstances) borrowing base valuations of our eligible inventory and accounts receivable, among other things, and is reduced by certain reserves in effect from time to time. | |||||||||||||
At December 31, 2013, there were no outstanding borrowings under the ABL Revolver. We had an additional $117 million of availability after giving effect to $10 million in outstanding letters of credit and less than $1 million for borrowing base reserves as of December 31, 2013. | |||||||||||||
Maturity. The ABL Revolver is scheduled to mature on April 25, 2018. | |||||||||||||
Guarantees and collateral. The indebtedness, obligations and liabilities under the ABL Revolver are unconditionally guaranteed jointly and severally on a senior secured basis by the Company and certain of its current and future U.S. subsidiaries, and are secured, subject to permitted liens and other exceptions and exclusions, by a first-priority lien on accounts receivable, inventory, cash, deposit accounts, securities accounts and proceeds of the foregoing and certain assets related thereto and a second-priority lien on the collateral that secures the Term Loans on a first-priority basis. | |||||||||||||
Mandatory prepayments. If at any time the outstanding borrowings under the ABL Revolver (including outstanding letters of credit and swingline loans) exceed the lesser of (i) the borrowing base as in effect at such time and (ii) the aggregate revolving commitments as in effect at such time, the borrowers will be required to prepay an amount equal to such excess and/or cash collateralize outstanding letters of credit. | |||||||||||||
Voluntary prepayments. Subject to certain conditions, the ABL Revolver allows the borrowers to voluntarily reduce the amount of the revolving commitments and to prepay the loans without premium or penalty other than customary breakage costs for LIBOR rate contracts. | |||||||||||||
Interest rates and fees. Outstanding borrowings under the ABL Revolver accrue interest at an annual rate of interest equal to (i) a base rate plus the applicable spread, as set forth below or (ii) a LIBOR rate plus the applicable spread, as set forth below. Swingline loans bear interest at a base rate plus the applicable spread. The Company will pay a commission on letters of credit issued under the New ABL Revolver at a rate equal to the applicable spread for loans based upon the LIBOR rate. | |||||||||||||
Level | Average | Base Rate Loans and | LIBOR Loans | ||||||||||
Aggregate | Swingline Loans | ||||||||||||
Availability | |||||||||||||
I | <$50,000,000 | 1 | % | 2 | % | ||||||||
II | > $50,000,000 | 0.75 | % | 1.75 | % | ||||||||
but < | |||||||||||||
$100,000,000 | |||||||||||||
III | >$100,000,000 | 0.5 | % | 1.5 | % | ||||||||
The Company will pay certain fees with respect to the ABL Revolver, including (i) an unused commitment fee on the undrawn portion of the credit facility of 0.25% per annum in the event that more than 50% of the commitments (excluding swingline loans) under the credit facility are utilized, and 0.375% per annum in the event that less than or equal to 50% of the commitments (excluding swingline loans) under the credit facility are utilized and (ii) customary annual administration fees and fronting fees in respect of letters of credit equal to 0.125% per annum on the stated amount of each letter of credit outstanding during each fiscal quarter. During an event of default, all loans and other obligations under the ABL Revolver may bear interest at a rate 2.00% in excess of the otherwise applicable rate of interest. | |||||||||||||
Cash Dominion. Commencing on the day that an event of default occurs or availability under the ABL Revolver is less than the greater of 12.5% of the total borrowing base and $17.5 million and continuing until no event of default has existed and availability has been greater than such thresholds at all times for 60 consecutive days, amounts in the Company’s deposit accounts and the deposit accounts of the guarantors (other than certain excluded accounts) will be transferred daily into a blocked account held by the administrative agent and applied to reduce the outstanding amounts under the ABL Revolver. | |||||||||||||
Covenants. The ABL Revolver contains negative covenants that, among other things, limit or restrict the ability of the Company and its subsidiaries to: create liens and encumbrances; incur additional indebtedness; merge, dissolve, liquidate or consolidate; make acquisitions, investments, advances or loans; dispose of or transfer assets; pay dividends or make other payments in respect of their capital stock; amend certain material governance documents; change the nature of the business of the borrowers and their subsidiaries; redeem or repurchase capital stock or prepay, redeem or repurchase certain debt; engage in certain transactions with affiliates; change the borrowers’ fiscal periods; and enter into certain restrictive agreements. The ABL Revolver also contains certain customary affirmative covenants and events of default, including a change of control. | |||||||||||||
In addition, commencing on the day that an event of default occurs or availability under the ABL Revolver is less than the greater of 10.0% of the total borrowing base and $15.0 million and continuing until no event of default has existed and availability under the ABL Revolver has been greater than such thresholds at all times, in each case, for 30 consecutive days, the Company will be required to maintain a fixed charge coverage ratio of at least 1.0x measured for the last 12-month period. The fixed charge coverage ratio was 2.05x as of December 31, 2013. If none of the covenant triggers have occurred, the impact of falling below the fixed charge coverage ratio would not be a default but instead would limit our ability to pursue certain operational or financial transactions (e.g. acquisitions). | |||||||||||||
Indenture | |||||||||||||
Senior Notes. On April 25, 2013, Affinia Group Inc. issued $250 million of Senior Notes as part of the refinancing. The Senior Notes accrue interest at the rate of 7.75% per annum, payable semi-annually on May 1 and November 1 of each year. The Senior Notes will mature on May 1, 2021. The terms of the Indenture provide that, among other things, the Senior Notes rank equally in right of payment to all of the Company’s and all of Affinia Group Inc.’s 100% owned current and future domestic subsidiaries (the “Guarantors”) existing and future senior debt and senior in right of payment to all of the Company’s and Guarantors’ existing and future subordinated debt. The Senior Notes are structurally subordinated to all of the liabilities and obligations of the Company’s subsidiaries that do not guarantee the Senior Notes. The Senior Notes are effectively junior in right of payment to all of the Company’s and the Guarantors’ secured indebtedness, including the Term Loans and the ABL Revolver, to the extent of the value of the collateral securing such indebtedness. The outstanding balance of the Senior Notes at December 31, 2013 was $250 million. | |||||||||||||
Guarantees. The Guarantors guarantee the Company’s obligations under the Notes on a senior unsecured basis. | |||||||||||||
Interest Rate. Interest on the Notes accrues at a rate of 7.75% per annum. Interest on the Notes is payable in cash semiannually in arrears on May 1 and November 1 of each year, commencing on November 1, 2013. | |||||||||||||
Other Covenants. The Indenture contains affirmative and negative covenants that, among other things, limit or restrict the Company’s ability (as well as those of the Company’s subsidiaries) to: incur additional debt; provide guarantees and issue mandatorily redeemable preferred stock; pay dividends on or make distributions in respect of capital stock or make certain other restricted payments or investments including the prepayment of certain indebtedness; enter into agreements that restrict distributions from restricted subsidiaries; sell or otherwise dispose of assets, including capital stock of restricted subsidiaries; enter into transactions with affiliates; create or incur liens; and merge, consolidate or sell substantially all of its assets. | |||||||||||||
Events of Default. The Indenture provides for customary events of default (subject in certain cases to customary grace and cure periods), which include nonpayment, breach of covenants in the Indenture, payment defaults or acceleration of other indebtedness, failure to pay certain judgments and certain events of bankruptcy and insolvency. Generally, if an event of default occurs, the Trustee or holders of at least 25% in principal amount of the then outstanding Notes may declare the principal, premium, if any, interest and other monetary obligations on all the Notes to be due and payable immediately. | |||||||||||||
Term Loan Facility | |||||||||||||
On April 25, 2013, the Company entered into (i) a Term Loan B-1 in an aggregate principal amount of $200 million and (ii) a Term Loan B-2 in an aggregate principal amount of $470 million. The Term Loan B-1 was offered at a price of 99.75%, of their face value, resulting in approximately $199 million of net proceeds for the Term Loan B-1. The Term Loan B-2 was offered at a price of 99.50%, of their face value, resulting in approximately $468 million of net proceeds for the Term Loan B-2. The $1 million and $2 million original issue discount for the Term Loan B-1 and Term Loan B-2, respectively, will be amortized based on the effective interest rate method and included in interest expense until the Term Loans mature. The Term Loan B-1 amortizes in quarterly installments in an amount equal to 1.00% per annum, with the balance due on April 25, 2016. The Term Loan B-2 amortizes in quarterly installments in an amount equal to 1.00% per annum, with the balance due on April 25, 2020. As of December 31, 2013, $199 million principal amount of Term Loan B-1 was outstanding, net of a $1 million issue discount which is being amortized until the Term Loan B-1 matures and $465 million principal amount of Term Loan B-2 was outstanding, net of a $2 million issue discount which is being amortized until the Term Loan B-2 matures. | |||||||||||||
Guarantees and collateral. The indebtedness, obligations and liabilities under the Term Loan Facility are unconditionally guaranteed jointly and severally on a senior secured basis by the Company and certain of its current and future U.S. subsidiaries, and are secured, subject to permitted liens and other exceptions and exclusions, by a first-priority lien on substantially all tangible and intangible assets of the borrower and each guarantor (including (i) a perfected pledge of all of the capital stock of the borrower and each direct, wholly-owned material subsidiary held by the borrower or any guarantor (subject to certain limitations with respect to foreign subsidiaries) and (ii) perfected security interests in, and mortgages on, equipment, general intangibles, investment property, intellectual property, material fee-owned real property, intercompany notes and proceeds of the foregoing) except for certain excluded assets and the collateral securing the ABL Revolver on a first priority basis, and a second-priority lien on the collateral securing the ABL Revolver on a first-priority basis. | |||||||||||||
Mandatory prepayments. The Term Loan Facility requires the following amounts to be applied to prepay the Term Loans, subject to certain thresholds, exceptions and reinvestment rights: 100% of the net proceeds from the incurrence of indebtedness (other than permitted indebtedness), 100% of the net proceeds of certain asset sales (including insurance or condemnation proceeds), other than the collateral securing the ABL Revolver on a first-priority basis, and 50% of excess cash flow with stepdowns to 25% and 0% based on certain leverage targets. | |||||||||||||
Mandatory prepayments will be allocated ratably between Term Loan B-1 and Term Loan B-2 and, within each, will be applied to reduce remaining amortization payments in the direct order of maturity for the immediately succeeding eight quarters and, thereafter, pro rata. | |||||||||||||
Voluntary Prepayments. The Company may voluntarily prepay outstanding Term Loans in whole or in part at any time without premium or penalty (other than a 1.00% premium payable until, in the case of the Term Loan B-1, six months following April 25, 2013 and, in the case of the Term Loan B-2, one year following April 25, 2013, on (i) the amount of loans prepaid or refinanced with proceeds of long-term bank debt financing or any other financing similar to such borrowings having a lower effective yield or (ii) the amount of loans the terms of which are amended to the same effect), subject to payment of customary breakage costs in the case of LIBOR rate loans. Optional prepayments of the Term Loans will be applied to the remaining installments thereof at the direction of the Company. | |||||||||||||
Interest Rates. Outstanding borrowings under the Term Loan Facility accrue interest at an annual rate of interest equal to (i) a base rate plus the applicable spread or (ii) a LIBOR rate plus the applicable spread. The applicable margin for borrowings under the Term Loan B-1 is 1.75% with respect to base rate borrowings and 2.75% with respect to LIBOR rate borrowings, and the applicable margin for borrowing under the Term Loan B-2 is 2.50% with respect to base rate borrowings and 3.50% with respect to LIBOR rate borrowings. The LIBOR rate is subject to a floor of 0.75% per annum with respect to Term Loan B-1 and 1.25% per annum with respect to Term Loan B-2. Overdue principal with respect to the Term Loans will bear interest at a rate 2.00% in excess of the otherwise applicable rate of interest and other overdue amounts with respect to the Term Loans will bear interest at a rate of 2.00% in excess of the rate applicable to base rate borrowings. | |||||||||||||
Covenants. The Term Loan Facility contains negative covenants that, among other things, limit or restrict the ability of the Company and its subsidiaries to create liens and encumbrances; incur additional indebtedness; merge, dissolve, liquidate or consolidate; make acquisitions, investments, advances or loans; dispose of or transfer assets; pay dividends or make other payments in respect of their capital stock; amend certain material governance documents; change the nature of the business of the borrower and its subsidiaries; redeem or repurchase capital stock or prepay, redeem or repurchase certain debt; engage in certain transactions with affiliates; change the borrower’s fiscal periods; and enter into certain restrictive agreements. The Term Loan Facility also contains certain customary affirmative covenants and events of default, including a change of control. | |||||||||||||
Deferred Financing | |||||||||||||
During the second quarter of 2013, we recorded a write-off of $5 million to interest expense for unamortized deferred financing costs associated with the redemption of our Secured Notes and Subordinated Notes. We also recorded during the second quarter of 2013 a write-off of $3 million to interest expense for the replacement of our Old ABL Revolver with a new ABL Revolver. In addition, we recorded $14 million in total deferred financing costs related to the issuance of our Senior Notes and Term Loans as part of the refinancing and $1 million in total deferred financing costs associated with the ABL Revolver. The unamortized deferred financing costs will be charged to interest expense over the next eight years for the Senior Notes, seven years for Term Loan B-2, five years for the ABL Revolver and three years for Term Loan B-1. | |||||||||||||
During the second quarter of 2012, we recorded a write-off of less than $1 million to interest expense for unamortized deferred financing costs associated with the redemption of $22.5 million of the Secured Notes. Additionally, we recorded $1 million in total deferred financing costs related to our Old ABL Revolver. | |||||||||||||
The following table summarizes the deferred financing activity from December 31, 2012 to December 30, 2013: | |||||||||||||
(Dollars in millions) | |||||||||||||
Balance at December 31, 2012 | $ | 15 | |||||||||||
Amortization | (4 | ) | |||||||||||
Write-off of unamortized deferred financing costs | (8 | ) | |||||||||||
Deferred financing costs | 15 | ||||||||||||
Balance at December 31, 2013 | $ | 18 | |||||||||||
Subsequent Event | |||||||||||||
On February 4, 2014, we entered into (i) the First Amendment to the Credit Agreement dated as of February 4, 2014 (the “Term Loan Amendment”), among Affinia Group Intermediate Holdings Inc., Affinia Group Inc., JP Morgan Chase Bank, NA, as administrative agent and the lenders party thereto and (ii) the First Amendment to the ABL Credit Agreement dated as of February 4, 2014 (the “ABL Amendment”), among Affinia Group Intermediate Holdings Inc., Affinia Group Inc., certain subsidiaries party thereto, the lenders party thereto and Bank of America, N.A, as administrative agent. The Term Loan Amendment and the ABL Amendment are referred to herein collectively as the “Amendments.” | |||||||||||||
The Amendments, among other things, amend certain negative covenants to permit the sale of the Chassis group and to permit certain restricted payments and loans and advances to Affinia Group Holdings Inc. The Term Loan Amendment also amends certain prepayment terms in connection with the Chassis sale. | |||||||||||||
The ABL Amendment contains additional amendments which, among other things, (i) reduce the dominion threshold to the greater of 12.5% of the total borrowing base and $12.5 million and (ii) amend the trigger period such that, commencing on the day that an event of default occurs or availability under the ABL Revolver is less than the greater of 10.0% of the total borrowing base and $10.0 million and continuing until no event of default has existed and availability under the ABL Revolver has been greater than such thresholds at all times, in each case, for 30 consecutive days, the Company is required to maintain a Fixed Charge Coverage Ratio of at least 1.0x measured for the last 12-month period. |
Accounts_Receivable_Factoring
Accounts Receivable Factoring | 12 Months Ended |
Dec. 31, 2013 | |
Text Block [Abstract] | ' |
Accounts Receivable Factoring | ' |
Note 10. Accounts Receivable Factoring | |
We have agreements with third party financial institutions to factor certain receivables on a non-recourse basis. The terms of the factoring arrangements provide for the factoring of certain U.S. Dollar-denominated or Canadian Dollar-denominated receivables, which are purchased at the face value amount of the receivable discounted at the annual rate of LIBOR plus a spread on the purchase date. The amount factored is not contractually defined by the factoring arrangements and our use will vary each month based on the amount of underlying receivables and the cash flow needs of the Company. During 2012, the total accounts receivable factored was $668 million and the cost incurred on factoring was $5 million, which includes our Chassis group and our Brake North America and Asia group. During 2013, the total accounts receivable factored was $541 million and the cost incurred on factoring was $4 million, which includes our Chassis group. Accounts receivable factored by us are accounted for as a sale and removed from the balance sheet at the time of factoring and the cost of the factoring is presented in either Other income (loss), net, or Income (loss) from discontinued operations, net of tax, if it relates to our Chassis Group and our Brake North America and Asia group. |
Stock_Incentive_Plan
Stock Incentive Plan | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Stock Incentive Plan | ' | ||||||||||||
Note 11. Stock Incentive Plan | |||||||||||||
On July 20, 2005, Affinia Group Holdings Inc. adopted the Affinia Group Holdings Inc. 2005 Stock Incentive Plan, which we refer to as our 2005 Stock Plan. The 2005 Stock Plan permits the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock and other stock-based awards to employees, directors or consultants of Affinia Group Holdings Inc. and its affiliates. A maximum of 350,000 shares of Affinia Group Holdings Inc. common stock may be subject to awards under the 2005 Stock Plan. The number of shares issued or reserved pursuant to the 2005 Stock Plan (or pursuant to outstanding awards) is subject to adjustment on account of mergers, consolidations, reorganizations, stock splits, stock dividends and other dilutive changes in the common stock. Shares of common stock covered by awards that terminate or lapse and shares delivered by a participant or withheld to pay the minimum statutory withholding rate, in each case, will again be available for grant under the 2005 Stock Plan. | |||||||||||||
Administration. The 2005 Stock Plan is administered by the compensation committee of Affinia Group Holdings Inc.’s Board of Directors. The committee has full power and authority to make, and establish the terms and conditions of any award, and to waive any such terms and conditions at any time (including, without limitation, accelerating or waiving any vesting conditions or payment dates). The committee is authorized to interpret the plan, to establish, amend and rescind any rules and regulations relating to the plan and to make any other determinations that it, in good faith, deems necessary or desirable for the administration of the plan and may delegate such authority as it deems appropriate. The committee may correct any defect or supply an omission or reconcile any inconsistency in the plan in the manner and to the extent the committee deems necessary or desirable and any decision of the committee in the interpretation and administration of the plan shall lie within its sole and absolute good faith discretion and shall be final, conclusive and binding on all parties concerned. | |||||||||||||
Options. The committee determines the option price for each option; however, the stock options must have an exercise price that is at least equal to the fair market value of the common stock on the date the option is granted. An option holder may exercise an option by written notice and payment of the option price (i) in cash or its equivalent, (ii) by the surrender of a number of shares of common stock already owned by the option holder for at least six months (or such other period established by the committee) with a fair market value equal to the exercise price, (iii) if there is a public market for the shares, subject to rules established by the committee, through the delivery of irrevocable instructions to a broker to sell shares obtained upon the exercise of the option and to deliver to Affinia Group Holdings Inc. an amount out of the proceeds of the sale equal to the aggregate option price for the shares being purchased or (iv) by another method approved by the committee. | |||||||||||||
Stock Appreciation Rights. The committee may grant stock appreciation rights independent of or in connection with an option. The exercise price per share of a stock appreciation right shall be an amount determined by the committee. Generally, each stock appreciation right shall entitle a participant upon exercise to an amount equal to (i) the excess of (1) the fair market value on the exercise date of one share of common stock over (2) the exercise price, multiplied by (ii) the number of shares of common stock covered by the stock appreciation right. Payment shall be made in common stock or in cash, or partly in common stock and partly in cash, all as shall be determined by the committee. | |||||||||||||
Other Stock-Based Awards. The committee may grant awards of restricted stock units, rights to purchase stock, restricted stock and other awards that are valued in whole or in part by reference to, or are otherwise based on the fair market value of, shares of common stock. The other stock-based awards will be subject to the terms and conditions established by the committee. | |||||||||||||
Transferability. Unless otherwise determined by the committee, awards granted under the 2005 Stock Plan are not transferable other than by will or by the laws of descent and distribution. | |||||||||||||
Change of Control. In the event of a change of control (as defined in the 2005 Stock Plan), the committee may provide for (i) the termination of an award upon the consummation of the change of control, but only if the award has vested and been paid out or the participant has been permitted to exercise an option in full for a period of not less than 30 days prior to the change of control, (ii) the acceleration of all or any portion of an award, (iii) payment in exchange for the cancellation of an award and/or (iv) the issuance of substitute awards that would substantially preserve the terms of any awards. | |||||||||||||
Amendment and Termination. Affinia Group Holdings Inc.’s Board of Directors may amend, alter or discontinue the 2005 Stock Plan in any respect at any time, but no amendment may diminish any of the rights of a participant under any awards previously granted, without his or her consent. | |||||||||||||
Management Stockholders Agreement. All shares issued under the plan will be subject to a management stockholders agreement or a director stockholders agreement, as applicable. | |||||||||||||
Restrictive Covenant Agreement. Unless otherwise determined by Affinia Group Holdings Inc.’s Board of Directors, all award recipients will be obligated to sign the standard Confidentiality, Non-Competition and Proprietary Information Agreement which includes restrictive covenants regarding confidentiality, proprietary information and a one year period restricting competition and solicitation of our clients, customers or employees. In the event a participant breaches these restrictive covenants, any exercise of, or payment or delivery pursuant to, an award may be rescinded by the committee in its discretion in which event the participant may be required to pay to us the amount of any gain realized in connection with, or as a result of, the rescinded exercise, payment or delivery. | |||||||||||||
Amendment. On November 14, 2006, the Compensation Committee of Affinia Group Holdings Inc. revised the vesting terms applicable to options previously awarded by the Committee to its named executive officers, as well as all other employees, under the Plan. One-half of these options vest in equal portions at the end of each year beginning with the year of the grant and ending December 31, 2009 (the “Vesting Period”), 40% are eligible for vesting in equal portions upon the Company’s achievement of certain specified annual EBITDA performance targets over the Vesting Period and 10% are eligible for vesting in equal portions upon the Company’s achievement of certain net working capital performance targets over the Vesting Period. The Committee has not modified the time-vesting options or the working capital performance options. The Committee elected to modify the vesting terms for the EBITDA performance options so that these options were eligible for vesting in equal portions at the end of each of the years 2007, 2008, and 2009. The Committee also modified the performance targets for those years. The fair value of the modified award was slightly higher than the grant date fair value. | |||||||||||||
2005 Stock Plan | |||||||||||||
On July 20, 2005, Affinia Group Holdings Inc. adopted the 2005 Stock Plan with a maximum of 227,000 shares of common stock subject to awards. On August 25, 2010, Affinia Group Holdings Inc. increased the number of shares of common stock subject to awards from 227,000 to 300,000, and Affinia Group Holdings Inc. commenced an offer to certain eligible holders of stock options to exchange their existing options to purchase shares of Affinia Group Holdings Inc.’s common stock for RSUs with new vesting terms (the “Option Exchange”). The RSUs granted in connection with the Option Exchange are governed by the 2005 Stock Plan and the new Restricted Stock Unit Award Agreement. On December 2, 2010, Affinia Group Holdings Inc. increased the number of shares of common stock subject to awards from 300,000 to 350,000. | |||||||||||||
A table of the 2005 Stock Plan balances for the restricted stock units, stock options, deferred compensation shares and stock awards is summarized below. | |||||||||||||
At December 31, | |||||||||||||
2012 | 2013 | ||||||||||||
Restricted stock units | 242,000 | 205,508 | |||||||||||
Stock options | 26,835 | 26,355 | |||||||||||
Deferred compensation shares | 30,235 | 37,744 | |||||||||||
Stock award | 163 | 163 | |||||||||||
Shares available | 50,767 | 80,230 | |||||||||||
Number of shares of common stock subject to awards | 350,000 | 350,000 | |||||||||||
Stock Options | |||||||||||||
As of December 31, 2013, 23,355 stock options had been awarded, all of which were vested. Pursuant to the terms of the 2005 Stock Plan, each option expires August 1, 2015. The exercise price was $100 per option but was reduced to $62.87 during 2013. | |||||||||||||
We account for our employee stock options under the fair value method of accounting using a Black-Scholes model to measure stock-based compensation expense at the date of grant. Dividend yields were not a factor because there were no cash dividends declared during 2011 and 2012. Although a dividend of $352 million was declared in 2013, there were no grants issued during the year hence there was no effect on the dividend yield. Our weighted-average Black-Scholes fair value assumptions include: | |||||||||||||
2011 | 2012 | 2013 | |||||||||||
Weighted-average effective term | 5.1 years | 5.1 years | 5.1 years | ||||||||||
Weighted-average risk free interest rate | 4.34 | % | 4.34 | % | 4.33 | % | |||||||
Weighted-average expected volatility | 39.9 | % | 39.9 | % | 40 | % | |||||||
Weighted-average fair value of options (Dollars in millions) | $ | 1 | $ | 1 | $ | 1 | |||||||
The fair value of the stock option grants is amortized to expense over the vesting period. The Company reduces the overall compensation expense by a turnover rate consistent with historical trends. Stock-based compensation expense, which was recorded in selling, general and administrative expenses, and tax related income tax benefits were nil for 2011, 2012 and 2013. | |||||||||||||
Options | |||||||||||||
Outstanding at January 1, 2011 | 34,062 | ||||||||||||
Granted | 1,550 | ||||||||||||
Exercised | (2,000 | ) | |||||||||||
Exchanged | (825 | ) | |||||||||||
Forfeited/expired | (4,107 | ) | |||||||||||
Outstanding at December 31, 2011 | 28,680 | ||||||||||||
Forfeited/expired | (4,845 | ) | |||||||||||
Outstanding at December 31, 2012 | 23,835 | ||||||||||||
Forfeited/expired | (480 | ) | |||||||||||
Outstanding at December 31, 2013 | 23,355 | ||||||||||||
Option Exchange | |||||||||||||
Affinia Group Holdings Inc. completed an offer to certain eligible holders of stock options to exchange their existing options to purchase shares of Affinia Group Holdings Inc.’s common stock for RSUs with new vesting terms (the “Option Exchange”). The Option Exchange election period commenced on August 25, 2010 and expired on September 24, 2010. The completion of the Option Exchange for the RSUs occurred on October 18, 2010 and 100% of the eligible option holders elected to participate. A total of 24 eligible employees and directors participated in the Option Exchange. In addition, three eligible employees and directors who did not have vested options received RSUs. Affinia Group Holdings Inc. accepted for exchange options to purchase a total of 61,868 shares of Affinia Group Holdings Inc.’s common stock. All surrendered options were cancelled in exchange for RSUs. The options had been fully expensed by the exchange date. The total RSUs issued on October 18, 2010 covered 235,000 shares of Affinia Group Holdings Inc.’s common stock. | |||||||||||||
On December 23, 2011, Affinia Group Holdings Inc. completed another Option Exchange. The Option Exchange election period commenced on December 1, 2011 and expired on December 23, 2011. The completion of the Option Exchange for the RSUs occurred on December 23, 2011 with 100% of the two eligible option holders electing to participate. Affinia Group Holdings Inc. accepted for exchange options to purchase a total of 825 shares of Affinia Group Holdings Inc.’s common stock. All surrendered options were cancelled in exchange for RSUs. The options had been fully expensed by the exchange date. The total RSUs issued on December 23, 2011 covered 4,000 shares of Affinia Group Holdings Inc.’s common stock. | |||||||||||||
Restricted Stock Units | |||||||||||||
The RSUs granted in connection with the Option Exchanges are governed by the 2005 Stock Plan and a new Restricted Stock Unit Award Agreement. | |||||||||||||
The RSUs are subject to performance-based and market-based vesting provisions, which differ from the performance and time-based vesting provisions applicable to the exchanged stock options. The RSUs will vest if (i) the RSU holder remains employed with Affinia Group Holdings Inc. on the date that either of the following vesting conditions occurs and (ii) either of the following vesting conditions occurs on or prior to the date on which Cypress ceases to hold any remaining Affinia Group Holdings Inc. common stock: | |||||||||||||
• | Cypress Scenario—Cypress has received aggregate transaction proceeds in cash or marketable securities (not subject to escrow, lock-up, trading restrictions or claw-back) with respect to the disposition of more than 50% of its common equity interests in Affinia Group Holdings Inc. in an amount that represents a per-share equivalent value that is greater than or equal to two times the average per share price paid by Cypress for its aggregate common equity investment in Affinia Group Holdings Inc.; or | ||||||||||||
• | IPO Scenario—Affinia Group Holdings Inc.’s common stock trades on a public stock exchange at an average closing price of $225 (as adjusted for stock splits) over a 60 consecutive trading day period. | ||||||||||||
Since the original issue date, the Brake North America and Asia group was distributed on November 2012 and a dividend recapitalization transaction was undertaken in April 2013. These two actions had an impact on the calculation of the overall return to the Holdings’ shareholders. In December 2013, our board of directors approved including the distribution of the Brake North America and Asia group and the recapitalization proceeds that were distributed to Holdings’ shareholders in reducing the Cypress Scenario and IPO Scenario vesting points. The Board approved these two events to reduce the vesting points from $225 to $159.30 under the IPO Scenario and from $200 to $141.60 under the Cypress Scenario. | |||||||||||||
Additionally, there were 106,369 RSUs granted to the RSU holders in 2013. The existing RSU holders were granted an additional 92,245 RSUs to compensate the holders for the diminished value arising from the distribution of the Brake North America and Asia group and the April 2013 distribution to the Holdings’ shareholders. | |||||||||||||
In addition, during 2013, 14,124 new RSUs were granted to a new employee. The new employee received 7,062 RSUs based on the same performance conditions as the previously issued RSUs. The employee also received 7,062 time-based RSUs which will vest in four equal annual installments from the anniversary date of the employee’s commencement of employment, which was October of 2013. | |||||||||||||
During 2013, we had 142,861 RSUs either expire or forfeit. In relation to the closure of the corporate headquarters, in Ann Arbor, MI, several employees elected to forfeit 92,514 unvested RSUs in exchange for a payment equal to thirty percent of the anticipated value of such RSU holder’s RSUs upon the occurrence of a Cypress Scenario vesting event. It is anticipated that the severance payment will be made in 2014 for approximately $4 million, which will be recorded in selling, general and administrative expenses. In connection with the distribution of our Brake North America and Asia group to the shareholders of Holdings, our Board of Directors determined that the distribution would constitute a “Qualifying Termination” under each of the RSU agreements held by employees of the Brake North America and Asia group. Each of these RSU agreements expired on November 30, 2013, and the RSUs were forfeited with the exception of one employee, whose RSU agreement expires on November 30, 2014. | |||||||||||||
As of December 31, 2013, 205,508 RSUs had been awarded and remained outstanding, none of which have vested. We estimated the fair value of our performance based RSUs under a market-based Monte Carlo simulation model on the date of the recent modifications. Our weighted-average Monte Carlo fair value assumptions include: | |||||||||||||
Cypress Scenario | IPO Scenario | ||||||||||||
Effective term | 0.44 years | 0.04 years | |||||||||||
Fair value of an RSU | $ | 135.49 | $ | 141.86 | |||||||||
Expected expense (Dollars in millions) | $ | 27 | $ | 28 | |||||||||
We estimate that the fair value of our time based RSUs using a market-based Monte Carlo simulation model on the date of the grant is approximately $1 million. | |||||||||||||
In the event that either of the performance-based conditions (Cypress Scenario or IPO Scenario) are met, the fair value of the RSUs will be recognized in stock-based compensation expense either 1) pro rata over the requisite service term including a cumulative catch-up related to service provided through the date the performance condition is met or 2) in full once the respective market-based condition is met or 3) in full if the requisite service period has already passed when the performance condition is met. Stock-based compensation expense, which would be recorded in selling, general and administrative expenses, and tax related income tax benefits was not recorded for 2013 as neither of the performance conditions have been met. If the performance condition is met on the 205,508 RSUs the amount of expense we would have to record is $17 million under the Cypress scenario or $18 million under the IPO scenario and the distributed Brake North America and Asia company would record expense related to the 70,621 RSUs granted to its employee. | |||||||||||||
RSUs | |||||||||||||
Outstanding at January 1, 2011 | 239,000 | ||||||||||||
Issued per Option Exchange | 4,000 | ||||||||||||
Granted | 3,000 | ||||||||||||
Forfeited/expired | (4,000 | ) | |||||||||||
Outstanding at December 31, 2011 | 242,000 | ||||||||||||
Granted | — | ||||||||||||
Forfeited/expired | — | ||||||||||||
Outstanding at December 31, 2012 | 242,000 | ||||||||||||
Granted | 106,369 | ||||||||||||
Forfeited/expired | (142,861 | ) | |||||||||||
Outstanding at December 31, 2013 | 205,508 | ||||||||||||
Deferred Compensation Plan | |||||||||||||
We started a deferred compensation plan in 2008 that permits executives to defer receipt of all or a portion of the amounts payable under our non-equity incentive compensation plan. All amounts deferred are treated solely for purposes of the plan to have been notionally invested in the common stock of Affinia Group Holdings Inc. As such, the accounts under the plan will reflect investment gains and losses associated with an investment in the Affinia Group Holdings Inc.’s common stock. We match 25% of the deferral with an additional notional investment in common stock of Affinia Group Holdings Inc., which is subject to vesting as provided in the plan. Deferred compensation expense, which was recorded in selling, general and administrative expenses, and tax related income tax benefits were $2 million for 2011, $1 million for 2012 and $2 million for 2013. |
Income_Tax
Income Tax | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Tax | ' | ||||||||||||
Note 12. Income Tax | |||||||||||||
The components of the income tax provision (benefit) from continuing operations are as follows: | |||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
Current: | |||||||||||||
U.S. federal | $ | — | $ | — | $ | — | |||||||
U.S. state and local | 1 | — | — | ||||||||||
Non-United States | 17 | 19 | 24 | ||||||||||
Total current | 18 | 19 | 24 | ||||||||||
Deferred: | |||||||||||||
U.S. federal & state | 7 | 26 | (8 | ) | |||||||||
Non-United States | 3 | — | 6 | ||||||||||
Total deferred | 10 | 26 | (2 | ) | |||||||||
Income tax provision | $ | 28 | $ | 45 | $ | 22 | |||||||
The income tax provision was calculated based upon the following components of income from continuing operations before income tax provision, equity in income, net of tax, and noncontrolling interest: | |||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
United States | $ | (38 | ) | $ | (27 | ) | (75 | ) | |||||
Non-United States | 87 | 86 | 104 | ||||||||||
Income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | $ | 49 | $ | 59 | $ | 29 | |||||||
Deferred tax assets (liabilities) consisted of the following: | |||||||||||||
(Dollars in millions) | At December 31, | At December 31, | |||||||||||
2012 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating and other loss carryforwards | $ | 139 | $ | 130 | |||||||||
Inventory reserves | 10 | 8 | |||||||||||
Expense accruals | 14 | 41 | |||||||||||
Other | 3 | 7 | |||||||||||
Subtotal | 166 | 186 | |||||||||||
Valuation allowance | (22 | ) | (31 | ) | |||||||||
Deferred tax assets | 144 | 155 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation & amortization | 2 | 11 | |||||||||||
Foreign earnings | 25 | 23 | |||||||||||
Other liabilities | — | 4 | |||||||||||
Deferred tax liabilities | 27 | 38 | |||||||||||
Net deferred tax assets | $ | 117 | $ | 117 | |||||||||
Balance Sheet Presentation: | |||||||||||||
Current deferred taxes | $ | 13 | $ | 39 | |||||||||
Deferred income taxes | 106 | 80 | |||||||||||
Deferred employee benefits & other noncurrent liabilities | (2 | ) | (2 | ) | |||||||||
Net deferred tax assets | $ | 117 | $ | 117 | |||||||||
Valuation allowances are provided for deferred tax assets whenever the realization of the assets is not deemed to meet a more likely than not standard. Accordingly, valuation allowances have been provided for net operating losses and other loss carryforwards in certain non-U.S. countries and U.S. states. In addition there are valuation allowances provided on certain U.S. credit carryforwards. U.S. income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that are essentially permanent in duration. This amount becomes taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary. The amount of such temporary differences totaled $72 million at December 31, 2013. Determination of the amount of any unrecognized deferred income tax liability on this temporary difference is not practicable. | |||||||||||||
The effective income tax rate differs from the U.S. federal income tax rate for the following reasons: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
U.S. federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increases (reductions) resulting from: | |||||||||||||
State and local income taxes, net of federal income tax benefit | -3.3 | 1.1 | -5.5 | ||||||||||
Valuation allowance | 5.5 | -1 | 6.2 | ||||||||||
Non-U.S. income | -18.8 | -14.3 | -40.8 | ||||||||||
U.S. Permanent Differences(1) | 23.9 | 45 | 66.7 | ||||||||||
Unrecognized Tax Benefits(2) | — | — | 23.6 | ||||||||||
Unremitted Earnings | 15.2 | 11.5 | -8.3 | ||||||||||
Miscellaneous items | 0 | -0.8 | 0 | ||||||||||
Effective income tax rate | 57.5 | % | 76.5 | % | 76.9 | % | |||||||
-1 | The U.S. Permanent Differences affecting the tax rate were primarily the result of deemed distributions from foreign subsidiaries. | ||||||||||||
-2 | The 2013 tax rate was negatively impacted by the recognition of an uncertain tax position resulting from an unfavorable ruling impacting our international operations. | ||||||||||||
At the end of 2013, federal domestic net operating loss carryforwards were $301 million. Of these, $12 million expire in 2024, $13 million expire in 2025, $37 million expire in 2026, $35 million expire in 2027, $76 million expire in 2028, $62 million expire in 2029, $33 million expire in 2030, $21 million expire in 2031, $11 million expire in 2032 and $1 million expire in 2033. At the end of 2013, state domestic net operating loss carryforwards were estimated to be $205 million, the majority of which expire between 2023 and 2033. At the end of 2013, foreign net operating loss carryforwards were $15 million and expire as follows: $2 million in 2014, $2 million in 2015, $4 million in 2016, $4 million in 2017 and $3 million in 2018. Realization of the tax benefits associated with loss carryforwards is dependent on generating sufficient taxable income prior to their expiration. | |||||||||||||
The following table summarizes the activity related to our unrecognized tax benefits: | |||||||||||||
(Dollars in millions) | |||||||||||||
Balance at January 1, 2011 | $ | 2 | |||||||||||
Increases to tax positions | — | ||||||||||||
Decreases to tax positions | — | ||||||||||||
Balance at January 1, 2012 | $ | 2 | |||||||||||
Increases to tax positions | — | ||||||||||||
Decreases to tax positions | (1 | ) | |||||||||||
Balance at January 1, 2013 | $ | 1 | |||||||||||
Increases to tax positions | 7 | ||||||||||||
Decreases to tax positions | — | ||||||||||||
Balance at December 31, 2013 | $ | 8 | |||||||||||
Included in the balance of unrecognized tax benefits at December 31, 2013, is $8 million of tax benefits that, if recognized, would affect the effective tax rate. The Company recognizes interest related to unrecognized tax benefits in interest expense and penalties as part of the income tax provision. As of December 31, 2013, the Company’s accrual for interest and penalties is $1 million, and the Company’s accrual for income tax expense is $8 million. The increase in 2013 is attributable to a recent ruling impacting our international operations. | |||||||||||||
The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. For jurisdictions in which the Company transacts significant business, tax years ending December 31, 2004 and later remain subject to examination by tax authorities. We do not anticipate any material change in the total amount of unrecognized tax benefits to occur within the next twelve months. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment | ' | ||||||||
Note 13. Property, Plant and Equipment | |||||||||
The following table breaks out the property, plant and equipment in further detail: | |||||||||
December 31, | |||||||||
(Dollars in millions) | 2012 | 2013 | |||||||
Property, plant and equipment | |||||||||
Land and improvements to land | $ | 8 | $ | 7 | |||||
Buildings and building fixtures | 55 | 54 | |||||||
Machinery and equipment | 159 | 167 | |||||||
Software | 21 | 17 | |||||||
Construction in progress | 9 | 16 | |||||||
252 | 261 | ||||||||
Less: Accumulated depreciation | (133 | ) | (138 | ) | |||||
$ | 119 | $ | 123 | ||||||
Depreciation is recognized on a straight-line basis over an asset’s estimated useful life. The depreciation expense from continuing operations was $15 million, $18 million, and $18 million for 2011, 2012, and 2013, respectively. |
Other_Accrued_Expenses
Other Accrued Expenses | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||||||
Other Accrued Expenses | ' | ||||||||||||
Note 14. Other Accrued Expenses | |||||||||||||
The following table breaks out the other accrued expenses in further detail: | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2012 | 2013 | |||||||||||
Taxes other than income taxes | $ | 11 | $ | 14 | |||||||||
Interest payable | 10 | 4 | |||||||||||
Return reserve | 8 | 6 | |||||||||||
Tax deposit payable | 5 | 9 | |||||||||||
Accrued legal and professional fees | 4 | 16 | |||||||||||
Accrued promotions and defective product | 4 | 1 | |||||||||||
Accrued selling and marketing | 3 | 2 | |||||||||||
Accrued freight | 3 | 2 | |||||||||||
Accrued commissions expense | 3 | 2 | |||||||||||
Accrued workers compensation | 2 | 1 | |||||||||||
Accrued restructuring | 1 | 5 | |||||||||||
Other | 14 | 16 | |||||||||||
$ | 68 | $ | 78 | ||||||||||
The other accrued expenses primarily consist of accrued utilities and other miscellaneous accruals. | |||||||||||||
A reconciliation of the changes in our return reserves is as follows beginning with January 1, 2011: | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2011(1) | 2012(2) | 2013(3) | ||||||||||
Beginning balance January 1 | $ | 17 | $ | 11 | $ | 8 | |||||||
Amounts charged to revenue | 45 | 23 | 19 | ||||||||||
Returns processed | (45 | ) | (26 | ) | (15 | ) | |||||||
Classified to discontinued operations | (6 | ) | — | (6 | ) | ||||||||
Ending balance December 31 | $ | 11 | $ | 8 | $ | 6 | |||||||
-1 | Includes our Brake North America and Asia group, which is classified as discontinued operations that had amounts charged to revenue of $22 million in 2011 and returns processed of $24 million in 2011. The return reserve as of December 31, 2010 includes $8 million in our Brake North America and Asia group, which is included in the total opening balance of $17 million. The return reserve as of December 31, 2011 excludes $6 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
-2 | Excludes our Brake North America and Asia group, which is classified as discontinued operations that had amounts charged to revenue of $15 million in 2012 and returns processed of $21 million in 2012. The return reserve as of December 31, 2011 excludes $6 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
-3 | Includes our Chassis group, which is classified as discontinued operations that had amounts charged to revenue of $9 million in 2013 and returns processed of $6 million in 2013. The return reserve as of December 31, 2013 excludes $6 million in our Chassis group, which is classified in current liabilities of discontinued operations. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
Note 15. Commitments and Contingencies | |||||
At December 31, 2013, the Company had purchase commitments for property, plant and equipment of approximately $8 million. | |||||
The Company had future minimum rental commitments under non-cancelable operating leases in continuing operations of $50 million and $4 million in discontinued operations at December 31, 2013, with future rental payments of: | |||||
(Dollars in millions) | Operating | ||||
Leases | |||||
2014 | $ | 9 | |||
2015 | 8 | ||||
2016 | 7 | ||||
2017 | 7 | ||||
2018 | 7 | ||||
Thereafter | 12 | ||||
Total | $ | 50 | |||
The leases do not contain restrictions on future borrowings. There are no significant lease escalation clauses or purchase options. Rent expense from continuing operations was $9 million, $9 million and $10 million in 2011, 2012 and 2013, respectively. | |||||
Various claims, lawsuits and administrative proceedings are pending or threatened against us and our subsidiaries, arising from the ordinary course of business with respect to commercial, intellectual property, product liability and environmental matters. We believe that the ultimate resolution of the foregoing matters will not have a material effect on our financial condition or results of operations or liquidity. | |||||
On September 30, 2011, we entered into a settlement agreement with Satisfied Brake Products Inc. (“Satisfied”) for $10 million to settle our claims against Satisfied for their theft of our trade secrets. Upon execution of the settlement agreement, $2.5 million was due immediately and up to an additional $7.5 million is to be provided after liquidation of Satisfied’s business. On September 30, 2011, we recorded a gain of $2.5 million in continuing operations in the consolidated financial statements. Additionally, we recorded $4 million as a gain in continuing operations in the first quarter of 2012. The remaining claim against Satisfied was included in the distribution of the Brake North America and Asia group to our shareholders. | |||||
On January 28, 2013, Walker Morris, counsel for Neovia notified us that Quinton Hazell Automotive Limited (“QHAL”) intended to appoint administrators (comparable to a bankruptcy filing in the United States) and that Neovia may pursue a claim against us for liabilities arising out of a Logistics Services Agreement dated May 5, 2006 among Neovia, QHAL and Affinia Group Inc. (the “LSA”). In connection with our prior sale of QHAL and its related companies to Klarius Group Ltd. (“KGL”), Affinia Group Inc. assigned the LSA to KGL, KGL agreed to indemnify Affinia Group Inc. against any liability under the LSA and the other companies in the QHAL group agreed to provide a guarantee to Affinia Group Inc. against these liabilities. KGL and QHAL have both appointed administrators. By letter dated February 15, 2013, Neovia, through its counsel Walker Morris, notified us that Neovia is asserting a claim against Affinia Group Inc. for liabilities arising under the LSA, including asserted unpaid invoices totaling 5.7 million pounds. On March 28, 2013, we were served with a demand for arbitration by Neovia. In the first quarter of 2014, we settled the claim for approximately $11 million including legal expenses. We have a $10 million reserve recorded as of December 31, 2013 for Neovia. | |||||
The Company has various accruals for civil liability, including product liability, and other costs. If there is a range of equally probable outcomes, we accrue at the lower end of the range. The Company had $1 million and $13 million accrued as of December 31, 2012 and December 31, 2013, respectively. In addition, we have various other claims that are reasonably possible of occurrence that range from less than $1 million to $10 million in the aggregate. There are no recoveries expected from third parties. | |||||
The Company has commenced a review of certain allegations that have arisen in connection with business operations involving our subsidiaries in Poland and Ukraine. The allegations raise issues involving potential improper payments in connection with governmental approvals, permits, or other regulatory areas and possible conflicts of interest. The review is being supervised by the Audit Committee of our Board of Directors, and is being conducted with the assistance of outside professionals. The review is at an early stage and no determination can yet be made as to whether the Company, in connection with the circumstances surrounding the review, may become subject to any fines, penalties and/or other charges imposed by any governmental authority, or any other damages or costs that may arise in connection with those circumstances. The Company has voluntarily self-reported on these matters to the U.S. Department of Justice and the U.S. Securities and Exchange Commission and intends to fully cooperate with these agencies in their review. | |||||
During the first quarter of 2007 we signed a letter of credit in connection with a real estate lease. ASC 460, “Guarantees”, requires that this letter of credit be accounted for as a guarantee. The fair value of this guarantee as of December 31, 2013 was less than $1 million and is included in other noncurrent liabilities and other long-term assets. |
Restructuring_of_Operations
Restructuring of Operations | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||
Restructuring of Operations | ' | ||||||||||||
Note 16. Restructuring of Operations | |||||||||||||
The restructuring charges consist of employee termination costs, other exit costs and impairment costs. Severance costs are being accounted for in accordance with ASC Topic 420, “Exit or Disposal Cost Obligations” and ASC Topic 712, “Compensation—Nonretirement Postemployment Benefits.” The restructuring costs in 2011 and 2012 relate to our Chassis group, Brake North America and Asia Group and the corporate office. On October 15, 2013, we announced we will relocate our Ann Arbor, MI corporate headquarters to Gastonia, NC, which is the home of our Filtration segment. We recorded an accrual of over $4 million as of December 31, 2013 related to the relocation. The transition to the new corporate headquarters will occur in phases during 2014. The following summarizes the restructuring charges and activity for the Company: | |||||||||||||
Accrued Restructuring | |||||||||||||
(Dollars in millions) | Total | ||||||||||||
Balance at December 31, 2011(1) | $ | 2 | |||||||||||
Charges to expense: | |||||||||||||
Employee termination benefits | 1 | ||||||||||||
Asset write-offs expense | — | ||||||||||||
Other expenses | 1 | ||||||||||||
Total restructuring expenses | 2 | ||||||||||||
Cash payments and asset write-offs: | |||||||||||||
Cash payments | (2 | ) | |||||||||||
Asset retirements and other | (1 | ) | |||||||||||
Balance at December 31, 2012 | $ | 1 | |||||||||||
Charges to expense: | |||||||||||||
Employee termination benefits | 6 | ||||||||||||
Cash payments and asset write-offs: | |||||||||||||
Cash payments | (2 | ) | |||||||||||
Balance at December 31, 2013 | $ | 5 | |||||||||||
-1 | The accrued restructuring as of December 31, 2011 excludes $1 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
At December 31, 2013, no restructuring charges remained in accrued liabilities, relating to wage and healthcare continuation for severed employees and other termination costs. These remaining benefits were paid during 2013. The following table shows the restructuring expenses by reportable segment: | |||||||||||||
(Dollars in millions) | 2011 | 2012 | 2013 | ||||||||||
Affinia South America segment | $ | — | $ | 1 | $ | — | |||||||
Corporate, eliminations and other | — | — | 6 | ||||||||||
Total from continuing operations | $ | — | $ | 1 | $ | 6 | |||||||
Discontinued Operations | 12 | 20 | — | ||||||||||
Total | $ | 12 | $ | 21 | $ | 6 | |||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 17. Related Party Transactions | |
On November 30, 2012, we distributed our Brake North America and Asia group to the shareholders of Holdings, the Company’s parent company and sole stockholder. The new organization is being led by the management team from the Company’s former Brake North America and Asia group, with oversight provided by a separate board of directors. On March 25, 2013, the new organization announced that it had been acquired by a group of investors. | |
Affinia and BPI entered into a transition services agreement (“TSA”) and a product distribution agreement effective with the distribution on November 30, 2012. The TSA provides for certain administrative and other services and support to be provided by us to BPI and to be provided by BPI to us. Most of the transition services expired during 2013 but the distribution services under the product distribution agreement continued to be provided by BPI to our Chassis group. The TSAs and the distribution services were established as arm length transactions and are intended for the contracting parties to recover costs of the services. Additionally, BPI is temporarily providing distribution services for our chassis products. BPI charged us in the month of December 2012 less than $1 million and $9 million in 2013 for distribution services and transition services. Affinia charged BPI $2 million for transition services in the month of December 2012 and $14 million in 2013. As of December 31, 2012, we had accounts receivable of $1 million and accounts payable of $1 million related to the TSA. As of December 31, 2013, we have accounts receivable and accounts payable of less than $1 million related to the TSA. | |
Mr. John M. Riess, one of our Board members, is the parent of J. Michael Riess, who is currently employed with Genuine Parts Company (NAPA) as president of a distribution facility. NAPA is the Company’s largest customer as a percentage of total net sales from continuing operations. NAPA accounted for 22%, 23% and 22% of our total net sales from continuing operations for the years ended December 31, 2011, 2012 and 2013, respectively. | |
In 2010, Mr. Zhang Haibo, 15% owner of Affinia Hong Kong Limited (“AHK”), loaned $1.4 million to AHK, a Brake North America and Asia group entity, to facilitate the establishment of a new subsidiary, Affinia Qingdao Braking Systems Co. Ltd., a new friction company in China with the intention of manufacturing friction products and distributing these products in Asia and North America. AHK owns 100% of the subsidiary. The contribution agreement had not been finalized as of December 31, 2010, but the cash had been received by AHK, as such we have recorded the $1.4 million as related party debt. In 2011, the contribution agreement had been finalized and the related party debt had been transferred to accumulated paid-in capital. This entity is no longer owned because it was distributed as part of the Brake North America and Asia group distribution in 2012. | |
In 2010, Mr. Zhang Haibo contributed $2.5 million to AHK to facilitate the purchase of land use rights for a new filtration company in China with the intention of manufacturing and distributing filtration products principally in Asia. The contribution did not change the ownership percentage and as a consequence the noncontrolling interest did not change but property, plant and equipment did increase. In 2011, Mr. Zhang Haibo, 15% owner of AHK, contributed $0.9 million for funding to Longkou Wix Filtration Co. Ltd., a new filtration company in China with the intention of manufacturing filtration products and distributing these products in Asia and North America. During the third quarter of 2012, we purchased the remaining 15% ownership interest in Longkou Wix Filtration Co. Ltd. | |
Effective July 1, 2012, we, along with Affinia Group Holdings Inc. and Affinia Group Inc., entered into an amendment to the Advisory Agreement with Torque Capital Group LLC for services related to corporate strategy, finance, investments and such other services as we may request from time to time. Mr. Joseph E. Parzick, one of our directors, is a managing partner of Torque Capital Group LLC. The Advisory Agreement was amended to change the expiration date of the obligation to pay the quarterly fee from June 30, 2012 to March 31, 2013. Subsequently, in accordance with the terms of the Advisory Agreement, the Company terminated its obligation to pay the quarterly fee effective December 31, 2012. Additionally, Mr. Parzick resigned as a director effective May 31, 2013. | |
Effective January 1, 2011, we, along with Affinia Group Holdings Inc. and Affinia Group Inc., entered into an Advisory Agreement with Cypress Advisors, Inc. for services related to corporate strategy, finance, investments and such other services as we may request from time to time. Mr. James A. Stern, one of our directors, is a managing director of Cypress Advisors, Inc. In connection with the Advisory Agreement, we, along with Affinia Group Holdings Inc. and Affinia Group Inc., have paid a quarterly fee of $100,000 for six calendar quarters expiring June 30, 2012. | |
The general manager of our Poland operations receives his compensation through a third-party management company in Poland, which is owned by the general manager. The management company received $0.4 million and $0.5 million in 2012 and 2013 for services rendered by the general manager. | |
Jartom Company provides metal components, cardboard and other services to our Poland operations. We purchased $2 million in product and services from Jartom in 2012 and 2013. One of the partners of Jartom Company is the brother to the general manager of the Poland operations. |
Segment_Information
Segment Information | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||
Note 18. Segment Information | |||||||||||||||||||||||||
The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about assessing performance and allocating resources. As such, the CODM receives discrete financial information for the Company’s three operating segments. However, as of December 31, 2013 the Chassis group was classified into current assets of discontinued operations. Consequently, as of December 31, 2013, we have two operating segments that are included in continuing operations. The Brake North America and Asia group was classified into discontinued operations in 2011. Our Chassis group and Brake North America and Asia group were classified as discontinued operations and, as such, is not presented in the net sales and operating profit segment tables below. See “Note. 3 Discontinued Operations—Chassis.” and “Note 4. Discontinued Operation—Brake.” With the Chassis group being classified into discontinued operations management determined that the Filtration and Affinia South America segments should be segregated into separate segments rather than being aggregated into the On and Off-Highway segment as they had in previous years. Management believes that this presentation provides more meaningful information about this business based on the current composition. Accordingly, all prior periods have been reclassified to conform to current period presentation. | |||||||||||||||||||||||||
The Company evaluates the performance of its segments based primarily on revenue growth and operating profit. Segment net sales, operating profit, total assets, depreciation and amortization and capital expenditures are disclosed below. The allocation of income taxes is not evaluated at the segment level. Amounts associated with the aforementioned discontinued operations are excluded from the amounts below. | |||||||||||||||||||||||||
(Dollars in millions) | Net Sales | Operating Profit | |||||||||||||||||||||||
2011 | 2012 | 2013 | 2011 | 2012 | 2013 | ||||||||||||||||||||
Filtration segment | $ | 801 | $ | 831 | $ | 902 | $ | 105 | $ | 122 | $ | 132 | |||||||||||||
Affinia South America segment | 469 | 430 | 459 | 34 | 32 | 36 | |||||||||||||||||||
Corporate, eliminations and other | (4 | ) | (2 | ) | — | (27 | ) | (34 | ) | (50 | ) | ||||||||||||||
$ | 1,266 | $ | 1,259 | $ | 1,361 | $ | 112 | $ | 120 | $ | 118 | ||||||||||||||
(Dollars in millions) | Total Assets | ||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Filtration segment | $ | 343 | $ | 405 | |||||||||||||||||||||
Affinia South America segment | 226 | 220 | |||||||||||||||||||||||
Corporate, eliminations and other | 240 | 243 | |||||||||||||||||||||||
Chassis group(1) | 151 | — | |||||||||||||||||||||||
Assets of discontinued operations(1) | — | 141 | |||||||||||||||||||||||
$ | 960 | $ | 1,009 | ||||||||||||||||||||||
-1 | The amounts related to the Chassis group are classified in the current assets of discontinued operations in 2013. | ||||||||||||||||||||||||
(Dollars in millions) | Depreciation and | Capital Expenditures | |||||||||||||||||||||||
Amortization | |||||||||||||||||||||||||
2011 | 2012 | 2013 | 2011 | 2012 | 2013 | ||||||||||||||||||||
Filtration segment | $ | 13 | $ | 14 | $ | 15 | $ | 22 | $ | 12 | $ | 22 | |||||||||||||
Affinia South America segment | 2 | 3 | 3 | 5 | 5 | 5 | |||||||||||||||||||
Corporate, eliminations and other | 8 | 5 | 3 | — | — | — | |||||||||||||||||||
Total from continuing operations | 23 | 22 | 21 | 27 | 17 | 27 | |||||||||||||||||||
Discontinued operations | 16 | 2 | 1 | 28 | 10 | 4 | |||||||||||||||||||
$ | 39 | $ | 24 | $ | 22 | $ | 55 | $ | 27 | $ | 31 | ||||||||||||||
Net sales by geographic region were as follows: | |||||||||||||||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||||||||||
2011 | 2012 | 2013 | |||||||||||||||||||||||
Brazil | $ | 438 | $ | 389 | $ | 411 | |||||||||||||||||||
Canada | 45 | 47 | 47 | ||||||||||||||||||||||
Poland | 147 | 146 | 161 | ||||||||||||||||||||||
Other Countries | 93 | 122 | 164 | ||||||||||||||||||||||
Total Other Countries | 723 | 704 | 783 | ||||||||||||||||||||||
United States | 543 | 555 | 578 | ||||||||||||||||||||||
$ | 1,266 | $ | 1,259 | $ | 1,361 | ||||||||||||||||||||
Long-lived assets by geographic region were as follows: | |||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||
2012 | 2013(1) | ||||||||||||||||||||||||
China | $ | 17 | $ | 18 | |||||||||||||||||||||
Brazil | 14 | 14 | |||||||||||||||||||||||
Poland | 29 | 30 | |||||||||||||||||||||||
Other Countries | 9 | 12 | |||||||||||||||||||||||
Total other countries | 69 | 74 | |||||||||||||||||||||||
United States | 177 | 130 | |||||||||||||||||||||||
$ | 246 | $ | 204 | ||||||||||||||||||||||
-1 | Long-lived assets as of December 31, 2013 exclude $52 million in our Chassis group, which is classified in current assets of discontinued operations. | ||||||||||||||||||||||||
Net sales by geographic area were determined based on origin of sale. Geographic data on long-lived assets are comprised of property, plant and equipment, goodwill, other intangible assets and deferred financing costs. |
Venezuelan_Operations
Venezuelan Operations | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Venezuelan Operations | ' |
Note 19. Venezuelan Operations | |
As required by U.S. GAAP, effective January 1, 2010, we accounted for Venezuela as a highly inflationary economy because the three-year cumulative inflation rate for Venezuela using the blended Consumer Price Index (which is associated with the city of Caracas) and the National Consumer Price Index (developed commencing in 2008 and covering the entire country of Venezuela) exceeded 100%. | |
Effective January 1, 2010, our Venezuelan subsidiary uses the U.S. Dollar as its functional currency. The financial statements of our subsidiary must be re-measured into the Company’s reporting currency (U.S. Dollar) and future exchange gains and losses from the re-measurement of monetary assets and liabilities are reflected in current earnings, rather than exclusively in the equity section of the balance sheet, until such time as the economy is no longer considered highly inflationary. The local currency in Venezuela is the Bolivar Fuerte (“VEF”). | |
Effective January 1, 2010, we changed the rate used to re-measure our Venezuelan subsidiary’s transactions and balances from the official exchange rate of 2.15 VEF to the U.S. Dollar to the parallel market rate, which ranged between 5.30 and 7.70 VEF to the U.S. Dollar during 2010. The one-time devaluation had a $2 million negative impact on our pre-tax net income. As described above, during the second quarter of 2010, we changed the rate used to re-measure our Venezuelan subsidiary’s transactions to the SITME rate of 5.30 VEF to the U.S. Dollar and the rate remained at that level in 2011. | |
On February 8, 2013, the Venezuelan government announced another devaluation of the currency to 6.30 VEF per U.S. Dollar and it eliminated the parallel market rate. The devaluation had a $3 million negative impact on our pre-tax net income. | |
For 2011, our Venezuelan subsidiary represented approximately 2% of our consolidated net sales and it had a net income attributable to the Company of $3 million. For 2012, our Venezuelan subsidiary represented approximately 3% of our consolidated net sales and it had a net income attributable to the Company of less than $1 million. For 2013, our Venezuelan subsidiary represented approximately 5% of our consolidated net sales and it had a net income attributable to the Company of $5 million. The Venezuelan subsidiary also had $15 million and $28 million of total assets and $12 million and $18 million of total liabilities as of December 31, 2012 and 2013, respectively. |
Financial_Information_for_Guar
Financial Information for Guarantors and Non-Guarantors | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||||||||||
Financial Information for Guarantors and Non-Guarantors | ' | ||||||||||||||||||||||||
Note 20. Financial Information for Guarantors and Non-Guarantors | |||||||||||||||||||||||||
Affinia Group Intermediate Holdings Inc. (presented as “Parent” in the following schedules), through its 100% owned subsidiary, Affinia Group Inc. (presented as Issuer in the following schedules), issued $250 million of Senior Notes on April 25, 2013. As of December 31, 2013, there were $250 million of Senior Notes outstanding. The notes were offered only to qualified institutional buyers and certain persons in offshore transactions | |||||||||||||||||||||||||
The Senior Notes are fully, irrevocably, unconditionally and jointly and severally guaranteed on a senior unsecured basis. The Senior Notes are general obligations of the Issuer and guaranteed by the Parent and the Guarantors. The following information presents Condensed Consolidating Statements of Operations for the years ended December 31, 2011, December 31, 2012 and December 31, 2013, Condensed Consolidating Statements of Comprehensive Income for the years ended December 31, 2011, December 31, 2012 and December 31, 2013, Condensed Consolidating Balance Sheets as of December 31, 2012 and December 31, 2013 and Condensed Consolidating Statements of Cash Flows for the years ended December 31, 2011, December 31, 2012 and December 31, 2013 of (1) the Parent, (2) the Issuer, (3) the Guarantors, (4) the Non-Guarantors, and (5) eliminations to arrive at the information for the Company on a consolidated basis. Other separate financial statements and other disclosures concerning the Parent and the Guarantors are not presented because management does not believe that such information is material to investors. | |||||||||||||||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 595 | $ | 997 | $ | (326 | ) | $ | 1,266 | ||||||||||||
Cost of sales | — | — | (480 | ) | (825 | ) | 326 | (979 | ) | ||||||||||||||||
Gross profit | — | — | 115 | 172 | — | 287 | |||||||||||||||||||
Selling, general and administrative expenses | — | (26 | ) | (64 | ) | (85 | ) | — | (175 | ) | |||||||||||||||
Operating (loss) profit | — | (26 | ) | 51 | 87 | — | 112 | ||||||||||||||||||
Other income (loss), net | — | — | (3 | ) | 7 | — | 4 | ||||||||||||||||||
Interest expense | — | (66 | ) | — | (1 | ) | — | (67 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (92 | ) | 48 | 93 | — | 49 | ||||||||||||||||||
Income tax provision | — | (11 | ) | 8 | (25 | ) | — | (28 | ) | ||||||||||||||||
Equity in income (loss), net of tax | (73 | ) | 30 | 55 | — | (12 | ) | — | |||||||||||||||||
Net income (loss) from continuing operations | (73 | ) | (73 | ) | 111 | 68 | (12 | ) | 21 | ||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (80 | ) | (13 | ) | — | (93 | ) | ||||||||||||||||
Net income (loss) | (73 | ) | (73 | ) | 31 | 55 | (12 | ) | (72 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | 1 | — | — | 1 | |||||||||||||||||||
Net income (loss) attributable to the Company | $ | (73 | ) | $ | (73 | ) | $ | 30 | $ | 55 | $ | (12 | ) | $ | (73 | ) | |||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income (loss) | $ | (73 | ) | $ | (73 | ) | $ | 31 | $ | 55 | $ | (12 | ) | $ | (72 | ) | |||||||||
Other comprehensive loss, net of tax: | |||||||||||||||||||||||||
Pension liability adjustment | (1 | ) | (1 | ) | — | (1 | ) | 2 | (1 | ) | |||||||||||||||
Change in foreign currency translation adjustments | (32 | ) | (32 | ) | — | (32 | ) | 64 | (32 | ) | |||||||||||||||
Total other comprehensive loss | (33 | ) | (33 | ) | — | (33 | ) | 66 | (33 | ) | |||||||||||||||
Total comprehensive income (loss) | (106 | ) | (106 | ) | 31 | 22 | 54 | (105 | ) | ||||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | 1 | — | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to the Company | $ | (106 | ) | $ | (106 | ) | $ | 30 | $ | 22 | $ | 54 | $ | (106 | ) | ||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 609 | $ | 997 | $ | (347 | ) | $ | 1,259 | ||||||||||||
Cost of sales | — | — | (490 | ) | (824 | ) | 347 | (967 | ) | ||||||||||||||||
Gross profit | — | — | 119 | 173 | — | 292 | |||||||||||||||||||
Selling, general and administrative expenses | — | (45 | ) | (46 | ) | (81 | ) | — | (172 | ) | |||||||||||||||
Operating (loss) profit | — | (45 | ) | 73 | 92 | — | 120 | ||||||||||||||||||
Loss on extinguishment of debt | — | (1 | ) | — | — | — | (1 | ) | |||||||||||||||||
Other income (loss), net | — | 3 | (4 | ) | 4 | — | 3 | ||||||||||||||||||
Interest expense | — | (62 | ) | — | (1 | ) | — | (63 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (105 | ) | 69 | 95 | — | 59 | ||||||||||||||||||
Income tax provision | — | (21 | ) | 2 | (26 | ) | — | (45 | ) | ||||||||||||||||
Equity in income (loss), net of tax | (103 | ) | 23 | 653 | 1 | (573 | ) | 1 | |||||||||||||||||
Net income (loss) from continuing operations | (103 | ) | (103 | ) | 724 | 70 | (573 | ) | 15 | ||||||||||||||||
Income (loss) from discontinued operations, net of tax | — | — | (701 | ) | 584 | — | (117 | ) | |||||||||||||||||
Net income (loss) | (103 | ) | (103 | ) | 23 | 654 | (573 | ) | (102 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | — | 1 | — | 1 | |||||||||||||||||||
Net income (loss) attributable to the Company | $ | (103 | ) | $ | (103 | ) | $ | 23 | $ | 653 | $ | (573 | ) | $ | (103 | ) | |||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income (loss) | $ | (103 | ) | $ | (103 | ) | $ | 23 | $ | 654 | $ | (573 | ) | $ | (102 | ) | |||||||||
Other comprehensive loss, net of tax: | |||||||||||||||||||||||||
Change in foreign currency translation adjustments | (15 | ) | (15 | ) | — | (15 | ) | 30 | (15 | ) | |||||||||||||||
Total other comprehensive loss | (15 | ) | (15 | ) | — | (15 | ) | 30 | (15 | ) | |||||||||||||||
Total comprehensive income (loss) | (118 | ) | (118 | ) | 23 | 639 | (543 | ) | (117 | ) | |||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | — | 1 | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to the Company | $ | (118 | ) | $ | (118 | ) | $ | 23 | $ | 638 | $ | (543 | ) | $ | (118 | ) | |||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 628 | $ | 877 | $ | (144 | ) | $ | 1,361 | ||||||||||||
Cost of sales | — | — | (506 | ) | (681 | ) | 144 | (1,043 | ) | ||||||||||||||||
Gross profit | — | — | 122 | 196 | — | 318 | |||||||||||||||||||
Selling, general and administrative expenses | — | (46 | ) | (63 | ) | (91 | ) | — | (200 | ) | |||||||||||||||
Operating (loss) profit | — | (46 | ) | 59 | 105 | — | 118 | ||||||||||||||||||
Loss on extinguishment of debt | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Other income (loss), net | — | (2 | ) | 1 | — | — | (1 | ) | |||||||||||||||||
Interest expense | — | (72 | ) | — | (1 | ) | — | (73 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (135 | ) | 60 | 104 | — | 29 | ||||||||||||||||||
Income tax provision | — | 2 | — | (24 | ) | — | (22 | ) | |||||||||||||||||
Equity in income, net of tax | 10 | 143 | 64 | (2 | ) | (217 | ) | (2 | ) | ||||||||||||||||
Net income from continuing operations | 10 | 10 | 124 | 78 | (217 | ) | 5 | ||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | 19 | (14 | ) | — | 5 | ||||||||||||||||||
Net income | 10 | 10 | 143 | 64 | (217 | ) | 10 | ||||||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | — | — | — | — | |||||||||||||||||||
Net income attributable to the Company | $ | 10 | $ | 10 | $ | 143 | $ | 64 | $ | (217 | ) | $ | 10 | ||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income | $ | 10 | $ | 10 | $ | 143 | $ | 64 | $ | (217 | ) | $ | 10 | ||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||
Pension liability adjustment | 1 | 1 | — | 1 | (2 | ) | 1 | ||||||||||||||||||
Change in foreign currency translation adjustments | (19 | ) | (19 | ) | — | (19 | ) | 38 | (19 | ) | |||||||||||||||
Change in fair value of interest rate swaps | 9 | 9 | — | — | (9 | ) | 9 | ||||||||||||||||||
Less: reclassification adjustments included in net income | (2 | ) | (2 | ) | — | — | 2 | (2 | ) | ||||||||||||||||
Total other comprehensive income (loss) | (11 | ) | (11 | ) | — | (18 | ) | 29 | (11 | ) | |||||||||||||||
Total comprehensive income | (1 | ) | (1 | ) | 143 | 46 | (188 | ) | (1 | ) | |||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | — | — | — | — | |||||||||||||||||||
Comprehensive income attributable to the Company | $ | (1 | ) | $ | (1 | ) | $ | 143 | $ | 46 | $ | (188 | ) | $ | (1 | ) | |||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Accounts receivable | — | 2 | 39 | 122 | — | 163 | |||||||||||||||||||
Inventories | — | — | 172 | 132 | — | 304 | |||||||||||||||||||
Other current assets | — | 15 | 9 | 41 | — | 65 | |||||||||||||||||||
Total current assets | — | 40 | 220 | 323 | — | 583 | |||||||||||||||||||
Investments and other assets | — | 197 | 41 | 20 | — | 258 | |||||||||||||||||||
Intercompany investments | 150 | 724 | 652 | — | (1,526 | ) | — | ||||||||||||||||||
Intercompany receivables (payables) | — | (227 | ) | (134 | ) | 361 | — | — | |||||||||||||||||
Property, plant and equipment, net | — | 2 | 48 | 69 | — | 119 | |||||||||||||||||||
Total assets | $ | 150 | $ | 736 | $ | 827 | $ | 773 | $ | (1,526 | ) | $ | 960 | ||||||||||||
Liabilities and Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 11 | $ | 79 | $ | 53 | $ | — | $ | 143 | |||||||||||||
Notes payable | — | — | — | 23 | — | 23 | |||||||||||||||||||
Accrued payroll and employee benefits | — | 7 | 3 | 7 | — | 17 | |||||||||||||||||||
Other accrued liabilities | — | 15 | 21 | 32 | — | 68 | |||||||||||||||||||
Total current liabilities | — | 33 | 103 | 115 | — | 251 | |||||||||||||||||||
Deferred employee benefits and noncurrent liabilities | — | 6 | — | 6 | — | 12 | |||||||||||||||||||
Long-term debt | — | 546 | — | — | — | 546 | |||||||||||||||||||
Total liabilities | — | 585 | 103 | 121 | — | 809 | |||||||||||||||||||
Total shareholder’s equity | 150 | 151 | 724 | 652 | (1,526 | ) | 151 | ||||||||||||||||||
Total liabilities and equity | $ | 150 | $ | 736 | $ | 827 | $ | 773 | $ | (1,526 | ) | $ | 960 | ||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 68 | $ | — | $ | 33 | $ | — | $ | 101 | |||||||||||||
Accounts receivable | — | — | 24 | 117 | — | 141 | |||||||||||||||||||
Inventories | — | — | 87 | 134 | — | 221 | |||||||||||||||||||
Other current assets | — | 50 | — | 50 | — | 100 | |||||||||||||||||||
Current assets of discontinued operations | — | — | 138 | 3 | — | 141 | |||||||||||||||||||
Total current assets | — | 118 | 249 | 337 | — | 704 | |||||||||||||||||||
Investments and other assets | — | 122 | 36 | 24 | — | 182 | |||||||||||||||||||
Intercompany investments | (202 | ) | 1,196 | 726 | — | (1,720 | ) | — | |||||||||||||||||
Intercompany receivables (payables) | — | (672 | ) | 247 | 425 | — | — | ||||||||||||||||||
Property, plant and equipment, net | — | 2 | 50 | 71 | — | 123 | |||||||||||||||||||
Total assets | $ | (202 | ) | $ | 766 | $ | 1,308 | $ | 857 | $ | (1,720 | ) | $ | 1,009 | |||||||||||
Liabilities and Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 6 | $ | 65 | $ | 50 | $ | — | $ | 121 | |||||||||||||
Notes payable | — | — | — | 23 | — | 23 | |||||||||||||||||||
Current maturities of long-term debt | — | 7 | — | — | — | 7 | |||||||||||||||||||
Accrued payroll and employee benefits | — | 8 | 3 | 8 | — | 19 | |||||||||||||||||||
Other accrued liabilities | — | 22 | 14 | 42 | — | 78 | |||||||||||||||||||
Current liabilities of discontinued operations | — | — | 29 | 2 | — | 31 | |||||||||||||||||||
Total current liabilities | — | 43 | 111 | 125 | — | 279 | |||||||||||||||||||
Deferred employee benefits and noncurrent liabilities | — | 17 | 1 | 6 | — | 24 | |||||||||||||||||||
Long-term debt net of current maturities | — | 907 | — | — | — | 907 | |||||||||||||||||||
Total liabilities | — | 967 | 112 | 131 | — | 1,210 | |||||||||||||||||||
Total shareholder’s equity | (202 | ) | (201 | ) | 1,196 | 726 | (1,720 | ) | (201 | ) | |||||||||||||||
Total liabilities and equity | $ | (202 | ) | $ | 766 | $ | 1,308 | $ | 857 | $ | (1,720 | ) | $ | 1,009 | |||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | (20 | ) | $ | 11 | $ | 23 | $ | — | $ | 14 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Proceeds from sales of assets | — | — | — | 9 | — | 9 | |||||||||||||||||||
Investments in companies, net of cash acquired | — | — | (1 | ) | — | — | (1 | ) | |||||||||||||||||
Change in restricted cash | — | — | — | 5 | — | 5 | |||||||||||||||||||
Additions to property, plant, and equipment | — | — | (16 | ) | (39 | ) | — | (55 | ) | ||||||||||||||||
Other investing activities | — | — | 3 | — | — | 3 | |||||||||||||||||||
Net cash used in investing activities | — | — | (14 | ) | (25 | ) | — | (39 | ) | ||||||||||||||||
Financing activities | |||||||||||||||||||||||||
Net decrease in other short-term debt | — | — | — | (6 | ) | — | (6 | ) | |||||||||||||||||
Proceeds from other debt | — | — | — | 20 | — | 20 | |||||||||||||||||||
Payments of other debt | — | — | — | (10 | ) | — | (10 | ) | |||||||||||||||||
Capital contribution | — | — | — | 2 | — | 2 | |||||||||||||||||||
Net proceeds from ABL Revolver | — | 20 | — | — | — | 20 | |||||||||||||||||||
Net cash provided by financing activities | — | 20 | — | 6 | — | 26 | |||||||||||||||||||
Effect of exchange rates on cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Change in cash and cash equivalents | — | — | (3 | ) | 2 | — | (1 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | — | 9 | 3 | 43 | — | 55 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 9 | $ | — | $ | 45 | $ | — | $ | 54 | |||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||
Total | |||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 151 | $ | (58 | ) | $ | 4 | $ | — | $ | 97 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Proceeds from sales of assets | — | — | 1 | 3 | — | 4 | |||||||||||||||||||
Additions to property, plant, and equipment | — | — | (8 | ) | (19 | ) | — | (27 | ) | ||||||||||||||||
Net cash used in investing activities | — | — | (7 | ) | (16 | ) | — | (23 | ) | ||||||||||||||||
Financing activities | |||||||||||||||||||||||||
Net decrease in other short-term debt | — | — | — | (4 | ) | — | (4 | ) | |||||||||||||||||
Payments of other debt | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Repayment on Secured Notes | — | (23 | ) | — | — | — | (23 | ) | |||||||||||||||||
Net payments of ABL Revolver | — | (110 | ) | — | — | — | (110 | ) | |||||||||||||||||
Cash related to the deconsolidation of BPI | — | — | (11 | ) | — | — | (11 | ) | |||||||||||||||||
Proceeds from BPI’s new credit facility | — | — | 76 | — | — | 76 | |||||||||||||||||||
Payment of deferred financing costs | — | (1 | ) | — | — | — | (1 | ) | |||||||||||||||||
Purchase of noncontrolling interest | — | (3 | ) | — | — | — | (3 | ) | |||||||||||||||||
Net cash provided by (used in) financing activities | — | (137 | ) | 65 | (6 | ) | — | (78 | ) | ||||||||||||||||
Effect of exchange rates on cash | — | — | — | 1 | — | 1 | |||||||||||||||||||
Change in cash and cash equivalents | — | 14 | — | (17 | ) | — | (3 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | — | 9 | — | 45 | — | 54 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | 352 | $ | 61 | $ | 17 | $ | 21 | $ | (352 | ) | $ | 99 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Investments in companies, net of cash acquired | — | — | — | (1 | ) | — | (1 | ) | |||||||||||||||||
Additions to property, plant, and equipment | — | (1 | ) | (17 | ) | (13 | ) | — | (31 | ) | |||||||||||||||
Net cash provided by (used in) investing activities | — | (1 | ) | (17 | ) | (14 | ) | — | (32 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Repayment on Secured Notes | — | (195 | ) | — | — | — | (195 | ) | |||||||||||||||||
Repayment on Subordinated Notes | — | (367 | ) | — | — | — | (367 | ) | |||||||||||||||||
Dividend to Shareholder | (352 | ) | (352 | ) | — | — | 352 | (352 | ) | ||||||||||||||||
Repayment on Term Loans | — | (3 | ) | — | — | — | (3 | ) | |||||||||||||||||
Payment of deferred financing costs | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Proceeds from Term Loans | — | 667 | — | — | — | 667 | |||||||||||||||||||
Proceeds from Senior Notes | — | 250 | — | — | — | 250 | |||||||||||||||||||
Net cash provided by financing activities | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Effect of exchange rates on cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Change in cash and cash equivalents | — | 45 | — | 5 | — | 50 | |||||||||||||||||||
Cash and cash equivalents at beginning of period | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 68 | $ | — | $ | 33 | $ | — | $ | 101 | |||||||||||||
Schedule_IIValuation_and_Quali
Schedule II-Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule II-Valuation and Qualifying Accounts | ' | ||||||||||||||||||||
Schedule II—Valuation and Qualifying Accounts | |||||||||||||||||||||
The allowance for doubtful accounts is summarized below for the period ending December 31, 2011, December 31, 2012, and December 31, 2013: | |||||||||||||||||||||
(Dollars in millions) | Balance | Amounts | Trade | Adjustments | Balance at | ||||||||||||||||
at beginning | charged to | accounts | arising from | end of | |||||||||||||||||
of period | income | receivable | change in | period | |||||||||||||||||
“written | currency | ||||||||||||||||||||
off” | exchange | ||||||||||||||||||||
net of | rates and | ||||||||||||||||||||
recoveries | other items | ||||||||||||||||||||
Year ended December 31, 2011 | $ | 2 | $ | 1 | $ | — | $ | (2 | ) | $ | 1 | ||||||||||
Year ended December 31, 2012(1) | $ | 1 | $ | 2 | $ | (1 | ) | $ | 1 | $ | 3 | ||||||||||
Year ended December 31, 2013 | $ | 3 | $ | 2 | $ | (2 | ) | $ | (1 | ) | $ | 2 | |||||||||
-1 | The allowance for doubtful accounts excludes less than $1 million reserve as of December 31, 2013, which is classified in the current assets of discontinued operations. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
Principles of Consolidation | |
In accordance with ASC Topic 810, “Consolidation,” the consolidated financial statements include the accounts of Affinia and its wholly and majority owned subsidiaries and variable interest entities (“VIE”) for which Affinia (or one of its subsidiaries) is the primary beneficiary. All intercompany transactions have been eliminated. Equity investments in which we exercise significant influence but do not control are accounted for using the equity method. Investments in which we are not able to exercise significant influence over the investee are accounted for under the cost method. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of these consolidated financial statements requires estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes. Some of the more significant estimates include valuation of deferred tax assets and inventories; workers compensation; sales return, rebate and warranty accruals; restructuring, environmental and product liability accruals; valuation of postemployment and postretirement benefits and allowances for doubtful accounts. Actual results may differ from these estimates and assumptions. | |
Concentration of Credit Risk | ' |
Concentration of Credit Risk | |
The primary type of financial instruments that potentially subject the Company to concentrations of credit risk are trade accounts receivable. The Company limits its credit risk by performing ongoing credit evaluations of its customers and, when deemed necessary, requires letters of credit, guarantees or collateral. The majority of the Company’s accounts receivable is due from replacement parts wholesalers and retailers serving the aftermarket. | |
The Company’s net sales to its two largest customers as a percentage of total net sales from continuing operations for the year ended December 31, 2013, were 22%, and 6%; for the year ended December 31, 2012, were 23% and 6%; and for the year ended December 31, 2011, were 22% and 5%. Net sales represent the amounts invoiced to customers after adjustments related to rebates, returns and discounts. The Company provides reserves for rebates, returns and discounts at the time of sale which are subsequently applied to the account of specific customers based upon actual activity including the attainment of targeted volumes. The Company’s two largest customers’ accounts receivable as of December 31, 2013 represented approximately 11% and 5% of the total accounts receivable, which includes continuing operations. The Company’s two largest customers’ accounts receivable, which includes continuing and discontinued operations, as of December 31, 2012 represented approximately 23% and 5% of the total accounts receivable. The discontinued operations were the main contributing factor to the decrease in accounts receivable concentration as of December 31, 2013 in comparison to December 31, 2012. | |
Foreign Currency Translation | ' |
Foreign Currency Translation | |
Assets and liabilities recorded in foreign currencies are translated at the exchange rate on the balance sheet date. Revenue and expenses are translated at average rates of exchange prevailing during the year. Translation adjustments resulting from this process are charged or credited to Other Comprehensive Income. | |
Included in net income (loss) are the gains and losses arising from foreign currency transactions. The impact on income from continuing operations before income tax provision, equity in income and noncontrolling interest of foreign currency transactions including the results of our foreign currency hedging activities amounted to a loss of $1 million, gain of $2 million and loss of $6 million in 2011, 2012 and 2013, respectively. | |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
Cash and cash equivalents include all cash balances and highly liquid investments with original maturities of three months or less. | |
Accounts receivable and Allowance for doubtful accounts | ' |
Accounts receivable | |
We record trade accounts receivable when revenue is recorded in accordance with our revenue recognition policy and relieve accounts receivable when payments are received from customers. Generally, we do not require collateral for our accounts receivable. | |
Allowance for doubtful accounts | |
The allowance for doubtful accounts is established through charges to the provision for bad debts. We evaluate the adequacy of the allowance for doubtful accounts on a periodic basis. The evaluation includes historical trends in collections and write-offs, management’s judgment of the probability of collecting accounts, and management’s evaluation of business risk. This evaluation is inherently subjective, as it requires estimates that are susceptible to revision as more information becomes available. The allowance for doubtful accounts was $3 million and $2 million at December 31, 2012 and 2013, respectively. | |
Inventories | ' |
Inventories | |
Inventories are valued at the lower of cost or market. Cost is determined on the FIFO basis for all domestic inventories or average cost basis for non-U.S. inventories. | |
Goodwill | ' |
Goodwill | |
Goodwill is not amortized, but instead the Company evaluates goodwill for impairment, as of December 31 of each year, unless conditions arise that would require a more frequent evaluation. In assessing the recoverability of goodwill, we perform a qualitative or quantitative assessment to test for impairment annually. If we determine, on the basis of qualitative factors, that a quantitative impairment test is required estimated future cash flows and other factors are made to determine the fair value of the respective reporting unit. If these estimates or related projections change in the future, we may be required to record impairment charges for goodwill at that time. | |
Intangibles | ' |
Intangibles | |
We have trade names with indefinite lives and other intangibles with definite lives. We test trade names for impairment on an annual basis as of December 31 of each year, unless conditions arise that would require a more frequent evaluation. Trade names are tested for impairment by comparing the fair value to their carrying values. | |
Our intangibles with definite lives consist of customer relationships, patents and developed technology. These assets are amortized on a straight-line basis over estimated useful lives ranging from 5 to 20 years. Certain conditions may arise that could result in a change in useful lives or require us to perform a valuation to determine if the definite lived intangibles are impaired. | |
Deferred Financing Costs | ' |
Deferred Financing Costs | |
Deferred financing costs are incurred to obtain long-term financing and are amortized using the effective interest method over the term of the related debt. The amortization of deferred financing costs is classified in interest expense in the statement of operations. | |
Properties and Depreciation | ' |
Properties and Depreciation | |
Fixed assets are being depreciated over their estimated remaining lives using primarily the straight-line method for financial reporting purposes and accelerated depreciation methods for federal income tax purposes. Major additions and improvements are capitalized and depreciated over their estimated useful lives, and repairs and maintenance are charged to expense in the period incurred. We review long-lived assets for impairment and generally accepted accounting principles require recognition of an impairment loss only if the carrying amount of a long-lived asset is not recoverable from its undiscounted cash flows. If the long-lived asset is not recoverable, we measure an impairment loss as the difference between the carrying amount and fair value of the asset. | |
Useful lives for buildings and building improvements, machinery and equipment, tooling and office equipment, furniture and fixtures principally range from 20 to 30 years, five to ten years, three to five years and three to ten years, respectively. Upon retirement or other disposal of fixed assets, the cost and related accumulated depreciation are eliminated from the asset and accumulated depreciation accounts, respectively. The difference, if any, between the net asset value and the proceeds is recorded as a gain or loss on disposition. | |
Revenue Recognition | ' |
Revenue Recognition | |
Sales are recognized when products are shipped or received, depending on the contractual terms, and risk of loss has transferred to the customer. The Company estimates and records provisions for warranty costs, sales returns, rebates and other allowances based on experience and other relevant factors, when sales are recognized. The Company assesses the adequacy of its recorded warranty, sales returns, rebates and allowances liabilities on a regular basis and adjusts the recorded amounts as necessary. While management believes that these estimates are reasonable, actual warranty costs, actual returns, rebates and allowances may differ from estimates. Shipping and handling fees billed to customers are included in sales and the costs of shipping and handling are included in cost of sales. Inter-company sales have been eliminated. | |
Income Taxes | ' |
Income Taxes | |
Income taxes are recognized during the period in which transactions enter into the determination of financial statement income, with deferred income taxes being provided for the tax effect of temporary differences between the carrying amount of assets and liabilities and their tax basis. Deferred income taxes are provided on the undistributed earnings of foreign subsidiaries and affiliated companies except to the extent such earnings are considered to be permanently reinvested in the subsidiary or affiliate. In cases where foreign tax credits will not offset U.S. income taxes, appropriate provisions are included in the combined or consolidated statement of operations. | |
The Company accounts for uncertain tax positions in accordance with ASC Topic 740, “Income Taxes.” Accordingly, the Company reports a liability for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. | |
Financial Instruments | ' |
Financial Instruments | |
The reported fair values of financial instruments, consisting of cash and cash equivalents, trade accounts receivable and long-term debt, are based on a variety of factors. Where available, fair values represent quoted market prices for identical or comparable instruments. Where quoted market prices are not available, fair values are estimated based on assumptions concerning the implied market volatilities, amount and timing of estimated future cash flows and assumed discount rates reflecting varying degrees of credit and market risk. Fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. As of December 31, 2012 and 2013, the book value of some of our financial instruments, consisting of cash and cash equivalents and trade accounts receivable, approximated their fair values. The fair value of long-term debt is disclosed in “Note 9. Debt.” | |
Environmental Compliance and Remediation | ' |
Environmental Compliance and Remediation | |
Environmental expenditures that relate to current operations are expensed or capitalized as appropriate. Expenditures that relate to existing conditions caused by past operations which do not contribute to current or future revenue generation are expensed. Liabilities are recorded when environmental assessments and/or remedial efforts are probable and the costs can be reasonably estimated. Estimated costs are based upon current laws and regulations, existing technology and the most probable method of remediation. The costs are not discounted and exclude the effects of inflation. If the cost estimates result in a range of equally probable amounts, the lower end of the range is accrued. | |
Advertising Costs and Promotional Programs | ' |
Advertising Costs | |
Advertising expenses included in continuing operations were $23 million, $20 million and $19 million for the years 2011, 2012, and 2013, respectively. The advertising expenses included in discontinued operations, were $10 million, $7 million and $2 million for the years 2011, 2012, and 2013, respectively. Advertising costs are recognized as selling expenses at the time advertising is incurred. | |
Promotional Programs | |
Cooperative advertising programs conducted with customers that promote the Company’s products are accrued as a rebate based on anticipated total amounts to be rebated to customers over the period of the agreement with the customer. Aftermarket distributors typically source their product lines at a particular price point and product category with one “full-line” supplier, such as our company, which covers substantially all of their product requirements. Switching to a new supplier typically requires that a distributor or supplier make a substantial investment to purchase, or “changeover” to, the new supplier’s products. The changeover costs and other incentives incurred in connection with obtaining new business are recognized as selling expense in the period in which the changeover from a competitor’s product to the Company’s product occurs. Infrequently, we enter into a contract with a customer for a set period of time that requires the reimbursement of the incentive by the customer if the future conditions of the contract are not met. In these infrequent cases the incentive is recorded as a reduction of revenue over the life of the contract. | |
Insurance | ' |
Insurance | |
We use a combination of insurance and self-insurance for a number of risks, including workers’ compensation, general liability, vehicle liability and the Company-funded portion of employee-related health care benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors, severity factors and other actuarial assumptions. | |
Research and Development Costs | ' |
Research and Development Costs | |
Research and development expenses included in continuing operations are charged to operations as incurred. The Company incurred less than $1 million for the years ended 2011, 2012 and 2013. | |
Free-Standing Derivatives | ' |
Free-Standing Derivatives | |
The Company is subject to various financial risks during the normal course of business operations, including but not limited to, adverse changes to interest rates, currency exchange rates, counterparty creditworthiness, and commodity prices. Pursuant to prudent risk management principles, the Company may utilize appropriate financial derivative instruments in order to mitigate the potential impact of these factors. The Company’s policies strictly prohibit the use of derivatives for speculative purposes. | |
The Company uses derivative financial instruments, from time to time, to manage the risk that changes in interest rates will have on the amount of future interest payments. Interest rate swap contracts are used to adjust the proportion of total debt that is subject to variable versus fixed interest rates. Under these agreements, the Company agrees to pay an amount equal to a specified fixed rate times a notional principal amount, and to receive an amount equal to a specified variable rate times the same notional principal amount or vice versa. The notional amounts of the contract are not exchanged. No other cash payments are made unless the contract is terminated prior to maturity, in which case the amount paid or received in settlement is established by agreement at the time of termination and will represent the net present value, at current rates of interest, of the remaining obligation to exchange payments under the terms of the contract. The Company measures hedge effectiveness, at least quarterly, by using the hypothetical derivative method. | |
In 2012 and 2013, the Company’s derivative instrument usage was standard currency forward contracts and interest rate swaps. The currency forward contracts are intended to offset the earnings impact related to the periodic revaluation of specific non-functional currency denominated monetary working capital accounts and intercompany financing arrangements. The Company does not seek hedge accounting treatment for its currency forward contacts because the earnings impact from both the underlying exposures and the hedge transactions are recognized in each accounting period. The Company uses interest rate swaps to manage the ratio of net floating-rate debt to total debt outstanding, thereby reducing the potential impact that interest rate variability may have on our consolidated financial results. We have designated our interest rate swaps as “cash flow” hedges as described in ASC 815, “Derivatives and Hedging” (“ASC 815”). | |
Stock-Based Compensation and Deferred Compensation Plan | ' |
Stock-Based Compensation | |
We account for the employee stock options under the fair value method of accounting using a Black-Scholes model to measure stock-based compensation expense at the date of grant. The compensation expense for the year was nil in each of 2011, 2012 and 2013. | |
On July 20, 2005, Affinia Group Holdings Inc. adopted the 2005 Stock Plan. The 2005 Stock Plan was amended on August 25, 2010 and on December 2, 2010 to increase the maximum shares of common stock that may be subject to awards. The 2005 Stock Plan permits the grant of non-qualified stock options, incentive stock options, stock appreciation rights, restricted stock and other stock-based awards to employees, directors or consultants of the Company and its affiliates. A maximum of 350,000 shares of common stock may be subject to awards under the 2005 Stock Plan. The number of shares issued or reserved pursuant to the 2005 Stock Plan (or pursuant to outstanding awards) is subject to adjustment on account of mergers, consolidations, reorganizations, stock splits, stock dividends and other dilutive changes in the common stock. Shares of common stock covered by awards that terminate or lapse and shares delivered by a participant or withheld to pay the minimum statutory withholding rate, in each case, will again be available for grant under the 2005 Stock Plan. Refer to “Note 11. Stock Incentive Plan” for further information on and discussion of our stock options. | |
On August 25, 2010 and December 23, 2011, Affinia Group Holdings Inc. commenced an offer to certain eligible holders of stock options to exchange their existing options to purchase shares of Affinia Group Holdings Inc. common stock for restricted stock unit awards (“RSUs”). The RSUs granted in connection with the option exchange are governed by the 2005 Stock Plan and a new Restricted Stock Unit Agreement. The RSUs are subject to performance-based and market-based vesting restrictions, which differ from the performance and time-based vesting restrictions applicable to the exchanged stock options. We will estimate the fair value of restricted stock unit awards using the value of Affinia Group Holdings Inc.’s common stock on the date of grant, reduced by the present value of Affinia Group Holdings Inc.’s common stock prior to vesting. The fair value of the RSUs will be expensed either pro rata over the requisite service term or in full if the requisite service period has passed when the RSUs vest in accordance with the performance conditions listed above. Stock-based compensation expense, which would be recorded in selling, general and administrative expenses, and tax related income tax benefits was not recorded for 2011, 2012 or 2013 as the performance condition had not been met. In addition, during 2013, 14,124 new RSUs were granted to a new employee. The new employee received 7,062 RSUs based on the same performance conditions as the previously issued RSUs. The employee also received 7,062 time-based RSUs which will vest in four equal annual installments from the anniversary date of the employee’s commencement of employment, which was in 2013. | |
Deferred Compensation Plan | |
We started a deferred compensation plan in 2008 that permits executives to defer receipt of all or a portion of the amounts payable under our non-equity incentive compensation plan. All amounts deferred are treated solely for purposes of the plan to have been notionally invested in the common stock of Affinia Group Holdings Inc. As such, the accounts under the plan will reflect investment gains and losses associated with an investment in Affinia Group Holdings Inc.’s common stock. We match 25% of the deferral with an additional notional investment in common stock of Affinia Group Holdings Inc., which is subject to vesting as provided in the plan. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
Adopted Accounting Pronouncements | |
In February 2013, the FASB issued Accounting Standards Update (“ASU”) 2013-02, “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires an entity to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under U.S. GAAP to be reclassified in its entirety to net income. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under U.S. GAAP that provide additional detail about those amounts. This guidance is effective for reporting periods beginning after December 15, 2012. The implementation of ASU 2013-02 resulted in financial statement disclosure changes only. | |
Accounting Pronouncements Not Yet Adopted | |
In July 2013, the FASB issued ASU 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes.” ASU 2013-10 allows the Fed Funds Effective Swap Rate (OIS) to be designated as a U.S. benchmark interest rate for hedge accounting purposes, in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate. The amendments also remove the restriction on using different benchmark rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The Company does not anticipate the requirements of ASU 2013-10 will have a material impact on the consolidated financial statements because it currently has not entered into any new or redesignated hedging relationships that meet these requirements. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance is effective for annual reporting periods beginning on or after December 15, 2013 and subsequent interim periods. The Company is currently assessing the impact, if any, on the consolidated financial statements. | |
In March 2013, the FASB issued ASU No. 2013-05, “Foreign Currency Matters (Topic 830) — Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity.” ASU No. 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, Foreign Currency Matters—Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. This ASU is effective prospectively for the first annual period beginning after December 15, 2013. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Accounting Pronouncements Not Yet Adopted | ' |
Accounting Pronouncements Not Yet Adopted | |
In July 2013, the FASB issued ASU 2013-10, “Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes.” ASU 2013-10 allows the Fed Funds Effective Swap Rate (OIS) to be designated as a U.S. benchmark interest rate for hedge accounting purposes, in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate. The amendments also remove the restriction on using different benchmark rates for similar hedges. The amendments are effective prospectively for qualifying new or redesignated hedging relationships entered into on or after July 17, 2013. The Company does not anticipate the requirements of ASU 2013-10 will have a material impact on the consolidated financial statements because it currently has not entered into any new or redesignated hedging relationships that meet these requirements. | |
In July 2013, the FASB issued ASU 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists.” ASU 2013-11 clarifies guidance and eliminates diversity in practice on the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. This new guidance is effective for annual reporting periods beginning on or after December 15, 2013 and subsequent interim periods. The Company is currently assessing the impact, if any, on the consolidated financial statements. | |
In March 2013, the FASB issued ASU No. 2013-05, “Foreign Currency Matters (Topic 830) — Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity.” ASU No. 2013-05 resolves the diversity in practice about whether Subtopic 810-10, Consolidation—Overall, or Subtopic 830-30, Foreign Currency Matters—Translation of Financial Statements, applies to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. This ASU is effective prospectively for the first annual period beginning after December 15, 2013. The Company is currently assessing the impact, if any, on the consolidated financial statements. |
Discontinued_Operation_Tables
Discontinued Operation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Brake [Member] | ' | ||||||||||||
Summary of Net Sales, Income Before Income Tax Provision, Income Tax Provision and Income Attributable to the Discontinued Operations | ' | ||||||||||||
The table below summarizes the Brake North America and Asia group’s net sales, loss before income tax provision, income tax provision, income (loss) from discontinued operations, net of tax, net income attributable to noncontrolling interest, net of tax and loss attributable to the discontinued operations. | |||||||||||||
(Dollars in millions) | 2011 | 2012 | |||||||||||
Net sales | $ | 637 | $ | 582 | |||||||||
Loss before income tax benefit (provision) | (174 | ) | (91 | ) | |||||||||
Income tax benefit (provision) | 61 | (33 | ) | ||||||||||
Income (loss) from discontinued operations, net of tax | (113 | ) | (124 | ) | |||||||||
Less: net income attributable to noncontrolling interest, net of tax | 1 | 1 | |||||||||||
Loss attributable to the discontinued operations | $ | (114 | ) | $ | (125 | ) | |||||||
Chassis [Member] | ' | ||||||||||||
Summary of Net Sales, Income Before Income Tax Provision, Income Tax Provision and Income Attributable to the Discontinued Operations | ' | ||||||||||||
The table below summarizes the Chassis group’s net sales, income before income tax provision, income tax provision and income attributable to the discontinued operations. | |||||||||||||
(Dollars in millions) | 2011 | 2012 | 2013 | ||||||||||
Net sales | $ | 213 | $ | 194 | $ | 189 | |||||||
Income before income tax provision | 29 | 10 | 15 | ||||||||||
Income tax provision | (9 | ) | (3 | ) | (10 | ) | |||||||
Income from discontinued operations, net of tax | $ | 20 | $ | 7 | $ | 5 | |||||||
Schedule of Assets and Liabilities Included in Held for Sale | ' | ||||||||||||
The following table shows the Chassis group assets and liabilities that are included in held for sale as of December 31, 2013: | |||||||||||||
(Dollars in millions) | |||||||||||||
Cash | $ | 1 | |||||||||||
Accounts receivable | 9 | ||||||||||||
Inventory | 74 | ||||||||||||
Other current assets | 4 | ||||||||||||
Property, plant and equipment | 8 | ||||||||||||
Goodwill | 22 | ||||||||||||
Other intangible assets | 22 | ||||||||||||
Other assets | 1 | ||||||||||||
Total assets of discontinued operations | $ | 141 | |||||||||||
Accounts payable | $ | 18 | |||||||||||
Other accrued expenses | 12 | ||||||||||||
Accrued payroll and employee benefits | 1 | ||||||||||||
Total liabilities of discontinued operations | $ | 31 | |||||||||||
Inventories_net_Tables
Inventories, net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Summary of Inventories | ' | ||||||||
A summary of inventories, net is provided in the table below: | |||||||||
(Dollars in millions) | At December 31, | At December 31, | |||||||
2012 | 2013(1) | ||||||||
Raw materials | $ | 77 | $ | 67 | |||||
Work-in-process | 19 | 17 | |||||||
Finished goods | 208 | 137 | |||||||
$ | 304 | $ | 221 | ||||||
-1 | The inventory as of December 31, 2013 excludes $74 million of inventory in our Chassis group, which is classified in current assets of discontinued operations. |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||
Summary of Goodwill Activity | ' | ||||
The following table summarizes our goodwill activity, which is related to our Filtration segment and our Chassis group, during 2012 and 2013: | |||||
(Dollars in millions) | |||||
Balance at December 31, 2011 | $ | 28 | |||
Tax benefit reductions | (4 | ) | |||
Balance at December 31, 2012 | $ | 24 | |||
Goodwill related to Chassis group reclassified to discontinued operations | (22 | ) | |||
Acquisition | 1 | ||||
Balance at December 31, 2013 | $ | 3 | |||
Other_Intangible_Assets_Tables
Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Rollforward of Other Intangibles and Trade Names | ' | ||||||||||||||||
A rollforward of the other intangibles and trade names for 2012 and 2013 is shown below: | |||||||||||||||||
(Dollars in millions) | Trade | Customer | Developed | Total | |||||||||||||
Names | Relationships | Technology/ | |||||||||||||||
Other | |||||||||||||||||
Balance at December 31, 2011(1) | $ | 36 | $ | 47 | $ | 11 | $ | 94 | |||||||||
Amortization | — | (4 | ) | (2 | ) | (6 | ) | ||||||||||
Balance at December 31, 2012 | 36 | 43 | 9 | 88 | |||||||||||||
Amortization | — | (2 | ) | (1 | ) | (3 | ) | ||||||||||
Tax benefit reductions | (1 | ) | (2 | ) | (1 | ) | (4 | ) | |||||||||
Additions | — | 1 | — | 1 | |||||||||||||
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | (5 | ) | (13 | ) | (4 | ) | (22 | ) | |||||||||
Balance at December 31, 2013 | $ | 30 | $ | 27 | $ | 3 | $ | 60 | |||||||||
-1 | The intangible assets as of December 31, 2011 exclude $53 million of intangible assets in our Brake North America and Asia group, which were classified in current assets of discontinued operations. |
Derivatives_Tables
Derivatives (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Schedule of Fair Value of Interest Rate Swaps and Our Currency Forward Contract Derivatives | ' | ||||||||||||
Our fair value of interest rate swaps and our currency forward contract derivatives at December 31, 2013 and 2012 are set forth in the table below: | |||||||||||||
(Dollars in Millions) | Asset | Level 2 | Valuation | ||||||||||
(Liability) | Technique | ||||||||||||
December 31, 2013: | |||||||||||||
Interest rate swap contracts | $ | 11 | $ | 11 | A | ||||||||
Foreign currency forward contracts | — | — | A | ||||||||||
December 31, 2012: | |||||||||||||
Foreign currency forward contracts | $ | — | $ | — | A | ||||||||
Currency Forward Contracts [Member] | ' | ||||||||||||
Notional Amount of Outstanding Currency Forward Contracts | ' | ||||||||||||
The notional amount of our outstanding currency forward contracts were as follows: | |||||||||||||
(Dollars in millions) | Notional | ||||||||||||
Amount | |||||||||||||
As of December 31, 2013 | $ | 86 | |||||||||||
As of December 31, 2012 | $ | 69 | |||||||||||
Schedule of Forward Contract Currency Gains and Losses | ' | ||||||||||||
The currency forward contract gains and losses are as follows: | |||||||||||||
(Dollars in millions) | Year | Year | Year | ||||||||||
Ended | Ended | Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
Gain (loss) on derivative instruments | $ | 1 | $ | 2 | $ | 1 | |||||||
Interest rate swap [Member] | ' | ||||||||||||
Notional Amount of Outstanding Currency Forward Contracts | ' | ||||||||||||
The notional amount of interest rate swaps outstanding are as follows: | |||||||||||||
(Dollars in millions) | Notional Amount | ||||||||||||
As of December 31, 2013 | $ | 300 | |||||||||||
As of December 31, 2012 | $ | — |
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||
Schedule of Debt | ' | ||||||||||||
Debt consists of the following: | |||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||
2012 | 2013 | ||||||||||||
9% Senior subordinated notes, due November 2014 | $ | 367 | $ | — | |||||||||
10.75% Senior secured notes, due August 2016 | 179 | — | |||||||||||
7.75% Senior notes, due May 2021 | — | 250 | |||||||||||
Term Loan B-1, due April 2016 | — | 199 | |||||||||||
Term Loan B-2, due April 2020 | — | 465 | |||||||||||
ABL revolver, due April 2018 | — | — | |||||||||||
Other debt | 23 | 23 | |||||||||||
569 | 937 | ||||||||||||
Less: current portion(1) | (23 | ) | (30 | ) | |||||||||
$ | 546 | $ | 907 | ||||||||||
-1 | The current portion consists of $20 million related to our Poland operations with a rate of one month LIBOR plus 0.9 points and $3 million related to our China operations as of December 31, 2012 and December 31, 2013. Additionally, the current portion includes $7 million of current maturities of long-term debt as of December 31, 2013. | ||||||||||||
Scheduled Maturities of Debt | ' | ||||||||||||
Scheduled maturities of debt for each of the next five years and thereafter are as follows: | |||||||||||||
(Dollars in millions) | Amount | ||||||||||||
Year | |||||||||||||
2014 | $ | 30 | |||||||||||
2015 | 7 | ||||||||||||
2016 | 199 | ||||||||||||
2017 | 5 | ||||||||||||
2018 | 4 | ||||||||||||
2019 and thereafter | 692 | ||||||||||||
Total debt | $ | 937 | |||||||||||
Schedule of Fair Value of Debt | ' | ||||||||||||
The fair value of debt is as follows: | |||||||||||||
Fair Value of Debt at December 31, 2012 | |||||||||||||
(Dollars in millions) | Book | Fair | Fair | ||||||||||
Value | Value | Value | |||||||||||
of Debt | Factor | of Debt | |||||||||||
Senior subordinated notes, due November 2014(1) | $ | 367 | 100.25 | % | $ | 368 | |||||||
Senior secured notes, due August 2016(1) | 179 | 108.43 | % | 194 | |||||||||
ABL revolver, due May 2017(2) | — | 100 | % | — | |||||||||
Other debt(2) | 23 | 100 | % | 23 | |||||||||
Total fair value of debt at December 31, 2012 | $ | 585 | |||||||||||
Fair Value of Debt at December 31, 2013 | |||||||||||||
(Dollars in millions) | Book Value | Fair Value | Fair Value | ||||||||||
of Debt | Factor | of Debt | |||||||||||
Senior notes, due May 2021(1) | $ | 250 | 96.06 | % | $ | 240 | |||||||
Term Loan B-1, due April 2016(1) | 199 | 100.63 | % | 200 | |||||||||
Term Loan B-2, due April 2020(1) | 465 | 101.38 | % | 471 | |||||||||
ABL revolver, due April 2018(2) | — | 100 | % | — | |||||||||
Other debt(2) | 23 | 100 | % | 23 | |||||||||
Total fair value of debt at December 31, 2013 | $ | 934 | |||||||||||
-1 | The fair value of the long-term debt was estimated based on quoted market prices obtained through broker or pricing services and categorized within Level 2 of the hierarchy. The fair value of our debt that is publicly traded in the secondary market is classified as Level 2 and is based on current market yields obtained through broker or pricing services. | ||||||||||||
-2 | The carrying value of fixed rate short-term debt approximates fair value because of the short term nature of these instruments, and the carrying value of the Company’s current floating rate debt instruments approximates fair value because of the variable interest rates pertaining to those instruments. The fair value of debt is categorized within Level 2 of the hierarchy. | ||||||||||||
Schedule of Interest Rates and Fees | ' | ||||||||||||
Level | Average | Base Rate Loans and | LIBOR Loans | ||||||||||
Aggregate | Swingline Loans | ||||||||||||
Availability | |||||||||||||
I | <$50,000,000 | 1 | % | 2 | % | ||||||||
II | > $50,000,000 | 0.75 | % | 1.75 | % | ||||||||
but < | |||||||||||||
$100,000,000 | |||||||||||||
III | >$100,000,000 | 0.5 | % | 1.5 | % | ||||||||
Summarizes Deferred Financing Activity | ' | ||||||||||||
The following table summarizes the deferred financing activity from December 31, 2012 to December 30, 2013: | |||||||||||||
(Dollars in millions) | |||||||||||||
Balance at December 31, 2012 | $ | 15 | |||||||||||
Amortization | (4 | ) | |||||||||||
Write-off of unamortized deferred financing costs | (8 | ) | |||||||||||
Deferred financing costs | 15 | ||||||||||||
Balance at December 31, 2013 | $ | 18 | |||||||||||
Stock_Incentive_Plan_Tables
Stock Incentive Plan (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Schedule of Stock Plan Balances for Restricted Stock Units, Stock Options, Deferred Compensation Shares and Stock Awards | ' | ||||||||||||
A table of the 2005 Stock Plan balances for the restricted stock units, stock options, deferred compensation shares and stock awards is summarized below. | |||||||||||||
At December 31, | |||||||||||||
2012 | 2013 | ||||||||||||
Restricted stock units | 242,000 | 205,508 | |||||||||||
Stock options | 26,835 | 26,355 | |||||||||||
Deferred compensation shares | 30,235 | 37,744 | |||||||||||
Stock award | 163 | 163 | |||||||||||
Shares available | 50,767 | 80,230 | |||||||||||
Number of shares of common stock subject to awards | 350,000 | 350,000 | |||||||||||
Schedule of Weighted-Average Black-Scholes Fair Value Assumptions | ' | ||||||||||||
Our weighted-average Black-Scholes fair value assumptions include: | |||||||||||||
2011 | 2012 | 2013 | |||||||||||
Weighted-average effective term | 5.1 years | 5.1 years | 5.1 years | ||||||||||
Weighted-average risk free interest rate | 4.34 | % | 4.34 | % | 4.33 | % | |||||||
Weighted-average expected volatility | 39.9 | % | 39.9 | % | 40 | % | |||||||
Weighted-average fair value of options (Dollars in millions) | $ | 1 | $ | 1 | $ | 1 | |||||||
Schedule of Stock Option Activity | ' | ||||||||||||
The fair value of the stock option grants is amortized to expense over the vesting period. The Company reduces the overall compensation expense by a turnover rate consistent with historical trends. Stock-based compensation expense, which was recorded in selling, general and administrative expenses, and tax related income tax benefits were nil for 2011, 2012 and 2013. | |||||||||||||
Options | |||||||||||||
Outstanding at January 1, 2011 | 34,062 | ||||||||||||
Granted | 1,550 | ||||||||||||
Exercised | (2,000 | ) | |||||||||||
Exchanged | (825 | ) | |||||||||||
Forfeited/expired | (4,107 | ) | |||||||||||
Outstanding at December 31, 2011 | 28,680 | ||||||||||||
Forfeited/expired | (4,845 | ) | |||||||||||
Outstanding at December 31, 2012 | 23,835 | ||||||||||||
Forfeited/expired | (480 | ) | |||||||||||
Outstanding at December 31, 2013 | 23,355 | ||||||||||||
Schedule of Weighted-Average Monte Carlo Fair Value Assumptions | ' | ||||||||||||
Our weighted-average Monte Carlo fair value assumptions include: | |||||||||||||
Cypress Scenario | IPO Scenario | ||||||||||||
Effective term | 0.44 years | 0.04 years | |||||||||||
Fair value of an RSU | $ | 135.49 | $ | 141.86 | |||||||||
Expected expense (Dollars in millions) | $ | 27 | $ | 28 | |||||||||
Schedule of Restricted Stock Units | ' | ||||||||||||
Additionally, as noted above certain of the RSUs held by employees of the Brake North America & Asia group shares expired November 30, 2013, which was one year after the distribution. | |||||||||||||
RSUs | |||||||||||||
Outstanding at January 1, 2011 | 239,000 | ||||||||||||
Issued per Option Exchange | 4,000 | ||||||||||||
Granted | 3,000 | ||||||||||||
Forfeited/expired | (4,000 | ) | |||||||||||
Outstanding at December 31, 2011 | 242,000 | ||||||||||||
Granted | — | ||||||||||||
Forfeited/expired | — | ||||||||||||
Outstanding at December 31, 2012 | 242,000 | ||||||||||||
Granted | 106,369 | ||||||||||||
Forfeited/expired | (142,861 | ) | |||||||||||
Outstanding at December 31, 2013 | 205,508 | ||||||||||||
Income_Tax_Tables
Income Tax (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Provision (Benefit) | ' | ||||||||||||
The components of the income tax provision (benefit) from continuing operations are as follows: | |||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
Current: | |||||||||||||
U.S. federal | $ | — | $ | — | $ | — | |||||||
U.S. state and local | 1 | — | — | ||||||||||
Non-United States | 17 | 19 | 24 | ||||||||||
Total current | 18 | 19 | 24 | ||||||||||
Deferred: | |||||||||||||
U.S. federal & state | 7 | 26 | (8 | ) | |||||||||
Non-United States | 3 | — | 6 | ||||||||||
Total deferred | 10 | 26 | (2 | ) | |||||||||
Income tax provision | $ | 28 | $ | 45 | $ | 22 | |||||||
Components of Income before Income Tax, Equity, Net of Tax and Noncontrolling Interest | ' | ||||||||||||
The income tax provision was calculated based upon the following components of income from continuing operations before income tax provision, equity in income, net of tax, and noncontrolling interest: | |||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
United States | $ | (38 | ) | $ | (27 | ) | (75 | ) | |||||
Non-United States | 87 | 86 | 104 | ||||||||||
Income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | $ | 49 | $ | 59 | $ | 29 | |||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Deferred tax assets (liabilities) consisted of the following: | |||||||||||||
(Dollars in millions) | At December 31, | At December 31, | |||||||||||
2012 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Net operating and other loss carryforwards | $ | 139 | $ | 130 | |||||||||
Inventory reserves | 10 | 8 | |||||||||||
Expense accruals | 14 | 41 | |||||||||||
Other | 3 | 7 | |||||||||||
Subtotal | 166 | 186 | |||||||||||
Valuation allowance | (22 | ) | (31 | ) | |||||||||
Deferred tax assets | 144 | 155 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation & amortization | 2 | 11 | |||||||||||
Foreign earnings | 25 | 23 | |||||||||||
Other liabilities | — | 4 | |||||||||||
Deferred tax liabilities | 27 | 38 | |||||||||||
Net deferred tax assets | $ | 117 | $ | 117 | |||||||||
Balance Sheet Presentation: | |||||||||||||
Current deferred taxes | $ | 13 | $ | 39 | |||||||||
Deferred income taxes | 106 | 80 | |||||||||||
Deferred employee benefits & other noncurrent liabilities | (2 | ) | (2 | ) | |||||||||
Net deferred tax assets | $ | 117 | $ | 117 | |||||||||
Schedule of Reconciliation of Effective Income Tax Rate | ' | ||||||||||||
The effective income tax rate differs from the U.S. federal income tax rate for the following reasons: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2011 | 2012 | 2013 | |||||||||||
U.S. federal income tax rate | 35 | % | 35 | % | 35 | % | |||||||
Increases (reductions) resulting from: | |||||||||||||
State and local income taxes, net of federal income tax benefit | -3.3 | 1.1 | -5.5 | ||||||||||
Valuation allowance | 5.5 | -1 | 6.2 | ||||||||||
Non-U.S. income | -18.8 | -14.3 | -40.8 | ||||||||||
U.S. Permanent Differences(1) | 23.9 | 45 | 66.7 | ||||||||||
Unrecognized Tax Benefits(2) | — | — | 23.6 | ||||||||||
Unremitted Earnings | 15.2 | 11.5 | -8.3 | ||||||||||
Miscellaneous items | 0 | -0.8 | 0 | ||||||||||
Effective income tax rate | 57.5 | % | 76.5 | % | 76.9 | % | |||||||
-1 | The U.S. Permanent Differences affecting the tax rate were primarily the result of deemed distributions from foreign subsidiaries. | ||||||||||||
-2 | The 2013 tax rate was negatively impacted by the recognition of an uncertain tax position resulting from an unfavorable ruling impacting our international operations. | ||||||||||||
Summary of Unrecognized Tax Benefits | ' | ||||||||||||
The following table summarizes the activity related to our unrecognized tax benefits: | |||||||||||||
(Dollars in millions) | |||||||||||||
Balance at January 1, 2011 | $ | 2 | |||||||||||
Increases to tax positions | — | ||||||||||||
Decreases to tax positions | — | ||||||||||||
Balance at January 1, 2012 | $ | 2 | |||||||||||
Increases to tax positions | — | ||||||||||||
Decreases to tax positions | (1 | ) | |||||||||||
Balance at January 1, 2013 | $ | 1 | |||||||||||
Increases to tax positions | 7 | ||||||||||||
Decreases to tax positions | — | ||||||||||||
Balance at December 31, 2013 | $ | 8 | |||||||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Schedule of Property, Plant and Equipment | ' | ||||||||
The following table breaks out the property, plant and equipment in further detail: | |||||||||
December 31, | |||||||||
(Dollars in millions) | 2012 | 2013 | |||||||
Property, plant and equipment | |||||||||
Land and improvements to land | $ | 8 | $ | 7 | |||||
Buildings and building fixtures | 55 | 54 | |||||||
Machinery and equipment | 159 | 167 | |||||||
Software | 21 | 17 | |||||||
Construction in progress | 9 | 16 | |||||||
252 | 261 | ||||||||
Less: Accumulated depreciation | (133 | ) | (138 | ) | |||||
$ | 119 | $ | 123 | ||||||
Other_Accrued_Expenses_Tables
Other Accrued Expenses (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||||||
Schedule of Other Accrued Expenses | ' | ||||||||||||
The following table breaks out the other accrued expenses in further detail: | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2012 | 2013 | |||||||||||
Taxes other than income taxes | $ | 11 | $ | 14 | |||||||||
Interest payable | 10 | 4 | |||||||||||
Return reserve | 8 | 6 | |||||||||||
Tax deposit payable | 5 | 9 | |||||||||||
Accrued legal and professional fees | 4 | 16 | |||||||||||
Accrued promotions and defective product | 4 | 1 | |||||||||||
Accrued selling and marketing | 3 | 2 | |||||||||||
Accrued freight | 3 | 2 | |||||||||||
Accrued commissions expense | 3 | 2 | |||||||||||
Accrued workers compensation | 2 | 1 | |||||||||||
Accrued restructuring | 1 | 5 | |||||||||||
Other | 14 | 16 | |||||||||||
$ | 68 | $ | 78 | ||||||||||
Schedule of Reconciliation of Changes in Return Reserves | ' | ||||||||||||
A reconciliation of the changes in our return reserves is as follows beginning with January 1, 2011: | |||||||||||||
December 31, | |||||||||||||
(Dollars in millions) | 2011(1) | 2012(2) | 2013(3) | ||||||||||
Beginning balance January 1 | $ | 17 | $ | 11 | $ | 8 | |||||||
Amounts charged to revenue | 45 | 23 | 19 | ||||||||||
Returns processed | (45 | ) | (26 | ) | (15 | ) | |||||||
Classified to discontinued operations | (6 | ) | — | (6 | ) | ||||||||
Ending balance December 31 | $ | 11 | $ | 8 | $ | 6 | |||||||
-1 | Includes our Brake North America and Asia group, which is classified as discontinued operations that had amounts charged to revenue of $22 million in 2011 and returns processed of $24 million in 2011. The return reserve as of December 31, 2010 includes $8 million in our Brake North America and Asia group, which is included in the total opening balance of $17 million. The return reserve as of December 31, 2011 excludes $6 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
-2 | Excludes our Brake North America and Asia group, which is classified as discontinued operations that had amounts charged to revenue of $15 million in 2012 and returns processed of $21 million in 2012. The return reserve as of December 31, 2011 excludes $6 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
-3 | Includes our Chassis group, which is classified as discontinued operations that had amounts charged to revenue of $9 million in 2013 and returns processed of $6 million in 2013. The return reserve as of December 31, 2013 excludes $6 million in our Chassis group, which is classified in current liabilities of discontinued operations. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Commitments under Non-Cancelable Operating Leases in Continuing Operations | ' | ||||
The Company had future minimum rental commitments under non-cancelable operating leases in continuing operations of $50 million and $4 million in discontinued operations at December 31, 2013, with future rental payments of: | |||||
(Dollars in millions) | Operating | ||||
Leases | |||||
2014 | $ | 9 | |||
2015 | 8 | ||||
2016 | 7 | ||||
2017 | 7 | ||||
2018 | 7 | ||||
Thereafter | 12 | ||||
Total | $ | 50 | |||
Restructuring_of_Operations_Ta
Restructuring of Operations (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||
Schedule of Restructuring Charges and Activity | ' | ||||||||||||
The following summarizes the restructuring charges and activity for the Company: | |||||||||||||
Accrued Restructuring | |||||||||||||
(Dollars in millions) | Total | ||||||||||||
Balance at December 31, 2011(1) | $ | 2 | |||||||||||
Charges to expense: | |||||||||||||
Employee termination benefits | 1 | ||||||||||||
Asset write-offs expense | — | ||||||||||||
Other expenses | 1 | ||||||||||||
Total restructuring expenses | 2 | ||||||||||||
Cash payments and asset write-offs: | |||||||||||||
Cash payments | (2 | ) | |||||||||||
Asset retirements and other | (1 | ) | |||||||||||
Balance at December 31, 2012 | $ | 1 | |||||||||||
Charges to expense: | |||||||||||||
Employee termination benefits | 6 | ||||||||||||
Cash payments and asset write-offs: | |||||||||||||
Cash payments | (2 | ) | |||||||||||
Balance at December 31, 2013 | $ | 5 | |||||||||||
-1 | The accrued restructuring as of December 31, 2011 excludes $1 million in our Brake North America and Asia group, which is classified in current liabilities of discontinued operations. | ||||||||||||
Schedule of Restructuring Expenses by Segment | ' | ||||||||||||
The following table shows the restructuring expenses by reportable segment: | |||||||||||||
(Dollars in millions) | 2011 | 2012 | 2013 | ||||||||||
Affinia South America segment | $ | — | $ | 1 | $ | — | |||||||
Corporate, eliminations and other | — | — | 6 | ||||||||||
Total from continuing operations | $ | — | $ | 1 | $ | 6 | |||||||
Discontinued Operations | 12 | 20 | — | ||||||||||
Total | $ | 12 | $ | 21 | $ | 6 | |||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||
Reconciliation of Sales, Operating Profit, Total Assets, Depreciation and Amortization and Capital Expenditures | ' | ||||||||||||||||||||||||
Segment net sales, operating profit, total assets, depreciation and amortization and capital expenditures are disclosed below. The allocation of income taxes is not evaluated at the segment level. Amounts associated with the aforementioned discontinued operations are excluded from the amounts below. | |||||||||||||||||||||||||
(Dollars in millions) | Net Sales | Operating Profit | |||||||||||||||||||||||
2011 | 2012 | 2013 | 2011 | 2012 | 2013 | ||||||||||||||||||||
Filtration segment | $ | 801 | $ | 831 | $ | 902 | $ | 105 | $ | 122 | $ | 132 | |||||||||||||
Affinia South America segment | 469 | 430 | 459 | 34 | 32 | 36 | |||||||||||||||||||
Corporate, eliminations and other | (4 | ) | (2 | ) | — | (27 | ) | (34 | ) | (50 | ) | ||||||||||||||
$ | 1,266 | $ | 1,259 | $ | 1,361 | $ | 112 | $ | 120 | $ | 118 | ||||||||||||||
(Dollars in millions) | Total Assets | ||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Filtration segment | $ | 343 | $ | 405 | |||||||||||||||||||||
Affinia South America segment | 226 | 220 | |||||||||||||||||||||||
Corporate, eliminations and other | 240 | 243 | |||||||||||||||||||||||
Chassis group(1) | 151 | — | |||||||||||||||||||||||
Assets of discontinued operations(1) | — | 141 | |||||||||||||||||||||||
$ | 960 | $ | 1,009 | ||||||||||||||||||||||
-1 | The amounts related to the Chassis group are classified in the current assets of discontinued operations in 2013. | ||||||||||||||||||||||||
(Dollars in millions) | Depreciation and | Capital Expenditures | |||||||||||||||||||||||
Amortization | |||||||||||||||||||||||||
2011 | 2012 | 2013 | 2011 | 2012 | 2013 | ||||||||||||||||||||
Filtration segment | $ | 13 | $ | 14 | $ | 15 | $ | 22 | $ | 12 | $ | 22 | |||||||||||||
Affinia South America segment | 2 | 3 | 3 | 5 | 5 | 5 | |||||||||||||||||||
Corporate, eliminations and other | 8 | 5 | 3 | — | — | — | |||||||||||||||||||
Total from continuing operations | 23 | 22 | 21 | 27 | 17 | 27 | |||||||||||||||||||
Discontinued operations | 16 | 2 | 1 | 28 | 10 | 4 | |||||||||||||||||||
$ | 39 | $ | 24 | $ | 22 | $ | 55 | $ | 27 | $ | 31 | ||||||||||||||
Net Sales by Geographic Region | ' | ||||||||||||||||||||||||
Net sales by geographic region were as follows: | |||||||||||||||||||||||||
(Dollars in millions) | Year Ended | Year Ended | Year Ended | ||||||||||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||||||||||
2011 | 2012 | 2013 | |||||||||||||||||||||||
Brazil | $ | 438 | $ | 389 | $ | 411 | |||||||||||||||||||
Canada | 45 | 47 | 47 | ||||||||||||||||||||||
Poland | 147 | 146 | 161 | ||||||||||||||||||||||
Other Countries | 93 | 122 | 164 | ||||||||||||||||||||||
Total Other Countries | 723 | 704 | 783 | ||||||||||||||||||||||
United States | 543 | 555 | 578 | ||||||||||||||||||||||
$ | 1,266 | $ | 1,259 | $ | 1,361 | ||||||||||||||||||||
Long Lived Assets by Geographic Region | ' | ||||||||||||||||||||||||
Long-lived assets by geographic region were as follows: | |||||||||||||||||||||||||
(Dollars in millions) | December 31, | December 31, | |||||||||||||||||||||||
2012 | 2013(1) | ||||||||||||||||||||||||
China | $ | 17 | $ | 18 | |||||||||||||||||||||
Brazil | 14 | 14 | |||||||||||||||||||||||
Poland | 29 | 30 | |||||||||||||||||||||||
Other Countries | 9 | 12 | |||||||||||||||||||||||
Total other countries | 69 | 74 | |||||||||||||||||||||||
United States | 177 | 130 | |||||||||||||||||||||||
$ | 246 | $ | 204 | ||||||||||||||||||||||
-1 | Long-lived assets as of December 31, 2013 exclude $52 million in our Chassis group, which is classified in current assets of discontinued operations. |
Financial_Information_for_Guar1
Financial Information for Guarantors and Non-Guarantors (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Guarantees [Abstract] | ' | ||||||||||||||||||||||||
Guarantor Condensed Consolidating Statement of Operations | ' | ||||||||||||||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 595 | $ | 997 | $ | (326 | ) | $ | 1,266 | ||||||||||||
Cost of sales | — | — | (480 | ) | (825 | ) | 326 | (979 | ) | ||||||||||||||||
Gross profit | — | — | 115 | 172 | — | 287 | |||||||||||||||||||
Selling, general and administrative expenses | — | (26 | ) | (64 | ) | (85 | ) | — | (175 | ) | |||||||||||||||
Operating (loss) profit | — | (26 | ) | 51 | 87 | — | 112 | ||||||||||||||||||
Other income (loss), net | — | — | (3 | ) | 7 | — | 4 | ||||||||||||||||||
Interest expense | — | (66 | ) | — | (1 | ) | — | (67 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (92 | ) | 48 | 93 | — | 49 | ||||||||||||||||||
Income tax provision | — | (11 | ) | 8 | (25 | ) | — | (28 | ) | ||||||||||||||||
Equity in income (loss), net of tax | (73 | ) | 30 | 55 | — | (12 | ) | — | |||||||||||||||||
Net income (loss) from continuing operations | (73 | ) | (73 | ) | 111 | 68 | (12 | ) | 21 | ||||||||||||||||
Loss from discontinued operations, net of tax | — | — | (80 | ) | (13 | ) | — | (93 | ) | ||||||||||||||||
Net income (loss) | (73 | ) | (73 | ) | 31 | 55 | (12 | ) | (72 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | 1 | — | — | 1 | |||||||||||||||||||
Net income (loss) attributable to the Company | $ | (73 | ) | $ | (73 | ) | $ | 30 | $ | 55 | $ | (12 | ) | $ | (73 | ) | |||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 609 | $ | 997 | $ | (347 | ) | $ | 1,259 | ||||||||||||
Cost of sales | — | — | (490 | ) | (824 | ) | 347 | (967 | ) | ||||||||||||||||
Gross profit | — | — | 119 | 173 | — | 292 | |||||||||||||||||||
Selling, general and administrative expenses | — | (45 | ) | (46 | ) | (81 | ) | — | (172 | ) | |||||||||||||||
Operating (loss) profit | — | (45 | ) | 73 | 92 | — | 120 | ||||||||||||||||||
Loss on extinguishment of debt | — | (1 | ) | — | — | — | (1 | ) | |||||||||||||||||
Other income (loss), net | — | 3 | (4 | ) | 4 | — | 3 | ||||||||||||||||||
Interest expense | — | (62 | ) | — | (1 | ) | — | (63 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (105 | ) | 69 | 95 | — | 59 | ||||||||||||||||||
Income tax provision | — | (21 | ) | 2 | (26 | ) | — | (45 | ) | ||||||||||||||||
Equity in income (loss), net of tax | (103 | ) | 23 | 653 | 1 | (573 | ) | 1 | |||||||||||||||||
Net income (loss) from continuing operations | (103 | ) | (103 | ) | 724 | 70 | (573 | ) | 15 | ||||||||||||||||
Income (loss) from discontinued operations, net of tax | — | — | (701 | ) | 584 | — | (117 | ) | |||||||||||||||||
Net income (loss) | (103 | ) | (103 | ) | 23 | 654 | (573 | ) | (102 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | — | 1 | — | 1 | |||||||||||||||||||
Net income (loss) attributable to the Company | $ | (103 | ) | $ | (103 | ) | $ | 23 | $ | 653 | $ | (573 | ) | $ | (103 | ) | |||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Operations | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net sales | $ | — | $ | — | $ | 628 | $ | 877 | $ | (144 | ) | $ | 1,361 | ||||||||||||
Cost of sales | — | — | (506 | ) | (681 | ) | 144 | (1,043 | ) | ||||||||||||||||
Gross profit | — | — | 122 | 196 | — | 318 | |||||||||||||||||||
Selling, general and administrative expenses | — | (46 | ) | (63 | ) | (91 | ) | — | (200 | ) | |||||||||||||||
Operating (loss) profit | — | (46 | ) | 59 | 105 | — | 118 | ||||||||||||||||||
Loss on extinguishment of debt | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Other income (loss), net | — | (2 | ) | 1 | — | — | (1 | ) | |||||||||||||||||
Interest expense | — | (72 | ) | — | (1 | ) | — | (73 | ) | ||||||||||||||||
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | — | (135 | ) | 60 | 104 | — | 29 | ||||||||||||||||||
Income tax provision | — | 2 | — | (24 | ) | — | (22 | ) | |||||||||||||||||
Equity in income, net of tax | 10 | 143 | 64 | (2 | ) | (217 | ) | (2 | ) | ||||||||||||||||
Net income from continuing operations | 10 | 10 | 124 | 78 | (217 | ) | 5 | ||||||||||||||||||
Loss from discontinued operations, net of tax | — | — | 19 | (14 | ) | — | 5 | ||||||||||||||||||
Net income | 10 | 10 | 143 | 64 | (217 | ) | 10 | ||||||||||||||||||
Less: net income attributable to noncontrolling interest, net of tax | — | — | — | — | — | — | |||||||||||||||||||
Net income attributable to the Company | $ | 10 | $ | 10 | $ | 143 | $ | 64 | $ | (217 | ) | $ | 10 | ||||||||||||
Guarantor Condensed Consolidating Statement of Comprehensive Income | ' | ||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income (loss) | $ | (73 | ) | $ | (73 | ) | $ | 31 | $ | 55 | $ | (12 | ) | $ | (72 | ) | |||||||||
Other comprehensive loss, net of tax: | |||||||||||||||||||||||||
Pension liability adjustment | (1 | ) | (1 | ) | — | (1 | ) | 2 | (1 | ) | |||||||||||||||
Change in foreign currency translation adjustments | (32 | ) | (32 | ) | — | (32 | ) | 64 | (32 | ) | |||||||||||||||
Total other comprehensive loss | (33 | ) | (33 | ) | — | (33 | ) | 66 | (33 | ) | |||||||||||||||
Total comprehensive income (loss) | (106 | ) | (106 | ) | 31 | 22 | 54 | (105 | ) | ||||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | 1 | — | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to the Company | $ | (106 | ) | $ | (106 | ) | $ | 30 | $ | 22 | $ | 54 | $ | (106 | ) | ||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income (loss) | $ | (103 | ) | $ | (103 | ) | $ | 23 | $ | 654 | $ | (573 | ) | $ | (102 | ) | |||||||||
Other comprehensive loss, net of tax: | |||||||||||||||||||||||||
Change in foreign currency translation adjustments | (15 | ) | (15 | ) | — | (15 | ) | 30 | (15 | ) | |||||||||||||||
Total other comprehensive loss | (15 | ) | (15 | ) | — | (15 | ) | 30 | (15 | ) | |||||||||||||||
Total comprehensive income (loss) | (118 | ) | (118 | ) | 23 | 639 | (543 | ) | (117 | ) | |||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | — | 1 | — | 1 | |||||||||||||||||||
Comprehensive income (loss) attributable to the Company | $ | (118 | ) | $ | (118 | ) | $ | 23 | $ | 638 | $ | (543 | ) | $ | (118 | ) | |||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Comprehensive Income (Loss) | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | total | ||||||||||||||||||||||||
Net income | $ | 10 | $ | 10 | $ | 143 | $ | 64 | $ | (217 | ) | $ | 10 | ||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||
Pension liability adjustment | 1 | 1 | — | 1 | (2 | ) | 1 | ||||||||||||||||||
Change in foreign currency translation adjustments | (19 | ) | (19 | ) | — | (19 | ) | 38 | (19 | ) | |||||||||||||||
Change in fair value of interest rate swaps | 9 | 9 | — | — | (9 | ) | 9 | ||||||||||||||||||
Less: reclassification adjustments included in net income | (2 | ) | (2 | ) | — | — | 2 | (2 | ) | ||||||||||||||||
Total other comprehensive income (loss) | (11 | ) | (11 | ) | — | (18 | ) | 29 | (11 | ) | |||||||||||||||
Total comprehensive income | (1 | ) | (1 | ) | 143 | 46 | (188 | ) | (1 | ) | |||||||||||||||
Less: comprehensive income attributable to noncontrolling interest, net of tax | — | — | — | — | — | — | |||||||||||||||||||
Comprehensive income attributable to the Company | $ | (1 | ) | $ | (1 | ) | $ | 143 | $ | 46 | $ | (188 | ) | $ | (1 | ) | |||||||||
Guarantor Condensed Consolidating Balance Sheet | ' | ||||||||||||||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Accounts receivable | — | 2 | 39 | 122 | — | 163 | |||||||||||||||||||
Inventories | — | — | 172 | 132 | — | 304 | |||||||||||||||||||
Other current assets | — | 15 | 9 | 41 | — | 65 | |||||||||||||||||||
Total current assets | — | 40 | 220 | 323 | — | 583 | |||||||||||||||||||
Investments and other assets | — | 197 | 41 | 20 | — | 258 | |||||||||||||||||||
Intercompany investments | 150 | 724 | 652 | — | (1,526 | ) | — | ||||||||||||||||||
Intercompany receivables (payables) | — | (227 | ) | (134 | ) | 361 | — | — | |||||||||||||||||
Property, plant and equipment, net | — | 2 | 48 | 69 | — | 119 | |||||||||||||||||||
Total assets | $ | 150 | $ | 736 | $ | 827 | $ | 773 | $ | (1,526 | ) | $ | 960 | ||||||||||||
Liabilities and Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 11 | $ | 79 | $ | 53 | $ | — | $ | 143 | |||||||||||||
Notes payable | — | — | — | 23 | — | 23 | |||||||||||||||||||
Accrued payroll and employee benefits | — | 7 | 3 | 7 | — | 17 | |||||||||||||||||||
Other accrued liabilities | — | 15 | 21 | 32 | — | 68 | |||||||||||||||||||
Total current liabilities | — | 33 | 103 | 115 | — | 251 | |||||||||||||||||||
Deferred employee benefits and noncurrent liabilities | — | 6 | — | 6 | — | 12 | |||||||||||||||||||
Long-term debt | — | 546 | — | — | — | 546 | |||||||||||||||||||
Total liabilities | — | 585 | 103 | 121 | — | 809 | |||||||||||||||||||
Total shareholder’s equity | 150 | 151 | 724 | 652 | (1,526 | ) | 151 | ||||||||||||||||||
Total liabilities and equity | $ | 150 | $ | 736 | $ | 827 | $ | 773 | $ | (1,526 | ) | $ | 960 | ||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Balance Sheet | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Eliminations | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 68 | $ | — | $ | 33 | $ | — | $ | 101 | |||||||||||||
Accounts receivable | — | — | 24 | 117 | — | 141 | |||||||||||||||||||
Inventories | — | — | 87 | 134 | — | 221 | |||||||||||||||||||
Other current assets | — | 50 | — | 50 | — | 100 | |||||||||||||||||||
Current assets of discontinued operations | — | — | 138 | 3 | — | 141 | |||||||||||||||||||
Total current assets | — | 118 | 249 | 337 | — | 704 | |||||||||||||||||||
Investments and other assets | — | 122 | 36 | 24 | — | 182 | |||||||||||||||||||
Intercompany investments | (202 | ) | 1,196 | 726 | — | (1,720 | ) | — | |||||||||||||||||
Intercompany receivables (payables) | — | (672 | ) | 247 | 425 | — | — | ||||||||||||||||||
Property, plant and equipment, net | — | 2 | 50 | 71 | — | 123 | |||||||||||||||||||
Total assets | $ | (202 | ) | $ | 766 | $ | 1,308 | $ | 857 | $ | (1,720 | ) | $ | 1,009 | |||||||||||
Liabilities and Equity | |||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||
Accounts payable | $ | — | $ | 6 | $ | 65 | $ | 50 | $ | — | $ | 121 | |||||||||||||
Notes payable | — | — | — | 23 | — | 23 | |||||||||||||||||||
Current maturities of long-term debt | — | 7 | — | — | — | 7 | |||||||||||||||||||
Accrued payroll and employee benefits | — | 8 | 3 | 8 | — | 19 | |||||||||||||||||||
Other accrued liabilities | — | 22 | 14 | 42 | — | 78 | |||||||||||||||||||
Current liabilities of discontinued operations | — | — | 29 | 2 | — | 31 | |||||||||||||||||||
Total current liabilities | — | 43 | 111 | 125 | — | 279 | |||||||||||||||||||
Deferred employee benefits and noncurrent liabilities | — | 17 | 1 | 6 | — | 24 | |||||||||||||||||||
Long-term debt net of current maturities | — | 907 | — | — | — | 907 | |||||||||||||||||||
Total liabilities | — | 967 | 112 | 131 | — | 1,210 | |||||||||||||||||||
Total shareholder’s equity | (202 | ) | (201 | ) | 1,196 | 726 | (1,720 | ) | (201 | ) | |||||||||||||||
Total liabilities and equity | $ | (202 | ) | $ | 766 | $ | 1,308 | $ | 857 | $ | (1,720 | ) | $ | 1,009 | |||||||||||
Guarantor Condensed Consolidating Statement of Cash Flows | ' | ||||||||||||||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | (20 | ) | $ | 11 | $ | 23 | $ | — | $ | 14 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Proceeds from sales of assets | — | — | — | 9 | — | 9 | |||||||||||||||||||
Investments in companies, net of cash acquired | — | — | (1 | ) | — | — | (1 | ) | |||||||||||||||||
Change in restricted cash | — | — | — | 5 | — | 5 | |||||||||||||||||||
Additions to property, plant, and equipment | — | — | (16 | ) | (39 | ) | — | (55 | ) | ||||||||||||||||
Other investing activities | — | — | 3 | — | — | 3 | |||||||||||||||||||
Net cash used in investing activities | — | — | (14 | ) | (25 | ) | — | (39 | ) | ||||||||||||||||
Financing activities | |||||||||||||||||||||||||
Net decrease in other short-term debt | — | — | — | (6 | ) | — | (6 | ) | |||||||||||||||||
Proceeds from other debt | — | — | — | 20 | — | 20 | |||||||||||||||||||
Payments of other debt | — | — | — | (10 | ) | — | (10 | ) | |||||||||||||||||
Capital contribution | — | — | — | 2 | — | 2 | |||||||||||||||||||
Net proceeds from ABL Revolver | — | 20 | — | — | — | 20 | |||||||||||||||||||
Net cash provided by financing activities | — | 20 | — | 6 | — | 26 | |||||||||||||||||||
Effect of exchange rates on cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Change in cash and cash equivalents | — | — | (3 | ) | 2 | — | (1 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | — | 9 | 3 | 43 | — | 55 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 9 | $ | — | $ | 45 | $ | — | $ | 54 | |||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non-Guarantor | Elimination | Consolidated | |||||||||||||||||||
Total | |||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash provided by (used in) operating activities | $ | — | $ | 151 | $ | (58 | ) | $ | 4 | $ | — | $ | 97 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Proceeds from sales of assets | — | — | 1 | 3 | — | 4 | |||||||||||||||||||
Additions to property, plant, and equipment | — | — | (8 | ) | (19 | ) | — | (27 | ) | ||||||||||||||||
Net cash used in investing activities | — | — | (7 | ) | (16 | ) | — | (23 | ) | ||||||||||||||||
Financing activities | |||||||||||||||||||||||||
Net decrease in other short-term debt | — | — | — | (4 | ) | — | (4 | ) | |||||||||||||||||
Payments of other debt | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Repayment on Secured Notes | — | (23 | ) | — | — | — | (23 | ) | |||||||||||||||||
Net payments of ABL Revolver | — | (110 | ) | — | — | — | (110 | ) | |||||||||||||||||
Cash related to the deconsolidation of BPI | — | — | (11 | ) | — | — | (11 | ) | |||||||||||||||||
Proceeds from BPI’s new credit facility | — | — | 76 | — | — | 76 | |||||||||||||||||||
Payment of deferred financing costs | — | (1 | ) | — | — | — | (1 | ) | |||||||||||||||||
Purchase of noncontrolling interest | — | (3 | ) | — | — | — | (3 | ) | |||||||||||||||||
Net cash provided by (used in) financing activities | — | (137 | ) | 65 | (6 | ) | — | (78 | ) | ||||||||||||||||
Effect of exchange rates on cash | — | — | — | 1 | — | 1 | |||||||||||||||||||
Change in cash and cash equivalents | — | 14 | — | (17 | ) | — | (3 | ) | |||||||||||||||||
Cash and cash equivalents at beginning of period | — | 9 | — | 45 | — | 54 | |||||||||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Affinia Group Intermediate Holdings Inc. | |||||||||||||||||||||||||
Guarantor Condensed | |||||||||||||||||||||||||
Consolidating Statement of Cash Flows | |||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||
(Dollars in millions) | Parent | Issuer | Guarantor | Non- | Elimination | Consolidated | |||||||||||||||||||
Guarantor | Total | ||||||||||||||||||||||||
Operating activities | |||||||||||||||||||||||||
Net cash (used in) provided by operating activities | $ | 352 | $ | 61 | $ | 17 | $ | 21 | $ | (352 | ) | $ | 99 | ||||||||||||
Investing activities | |||||||||||||||||||||||||
Investments in companies, net of cash acquired | — | — | — | (1 | ) | — | (1 | ) | |||||||||||||||||
Additions to property, plant, and equipment | — | (1 | ) | (17 | ) | (13 | ) | — | (31 | ) | |||||||||||||||
Net cash provided by (used in) investing activities | — | (1 | ) | (17 | ) | (14 | ) | — | (32 | ) | |||||||||||||||
Financing activities | |||||||||||||||||||||||||
Repayment on Secured Notes | — | (195 | ) | — | — | — | (195 | ) | |||||||||||||||||
Repayment on Subordinated Notes | — | (367 | ) | — | — | — | (367 | ) | |||||||||||||||||
Dividend to Shareholder | (352 | ) | (352 | ) | — | — | 352 | (352 | ) | ||||||||||||||||
Repayment on Term Loans | — | (3 | ) | — | — | — | (3 | ) | |||||||||||||||||
Payment of deferred financing costs | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Proceeds from Term Loans | — | 667 | — | — | — | 667 | |||||||||||||||||||
Proceeds from Senior Notes | — | 250 | — | — | — | 250 | |||||||||||||||||||
Net cash provided by financing activities | — | (15 | ) | — | — | — | (15 | ) | |||||||||||||||||
Effect of exchange rates on cash | — | — | — | (2 | ) | — | (2 | ) | |||||||||||||||||
Change in cash and cash equivalents | — | 45 | — | 5 | — | 50 | |||||||||||||||||||
Cash and cash equivalents at beginning of period | $ | — | $ | 23 | $ | — | $ | 28 | $ | — | $ | 51 | |||||||||||||
Cash and cash equivalents at end of period | $ | — | $ | 68 | $ | — | $ | 33 | $ | — | $ | 101 | |||||||||||||
Organization_and_Description_o1
Organization and Description of Business - Additional Information (Detail) | Dec. 31, 2013 |
Accounting Policies [Abstract] | ' |
Percentage of sales | 97.00% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 23, 2011 | Oct. 18, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jul. 20, 2005 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Customer | Customer | Customer | Continuing operations [Member] | Continuing operations [Member] | Continuing operations [Member] | Discontinuing operations [Member] | Discontinuing operations [Member] | Discontinuing operations [Member] | New Employee [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer One [Member] | Major Customer Two [Member] | Major Customer Two [Member] | Major Customer Two [Member] | 2005 Stock Plan [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Time-based RSUs [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |
New Employee [Member] | New Employee [Member] | Building and building improvements [Member] | Machinery and equipment [Member] | Tooling and office equipment [Member] | Furniture and fixtures [Member] | Building and building improvements [Member] | Machinery and equipment [Member] | Tooling and office equipment [Member] | Furniture and fixtures [Member] | |||||||||||||||||||||||||||
Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of sales to its largest customers | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 23.00% | 22.00% | 6.00% | 6.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of accounts receivable to total accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11.00% | 23.00% | ' | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of major customers | 2 | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gains and losses arising from foreign currency transactions | ($6) | $2 | ($1) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts | 2 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life, intangibles | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life, properties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '5 years | '3 years | '3 years | ' | ' | ' | ' | '30 years | '10 years | '5 years | '10 years |
Advertising expenses | ' | ' | ' | 19 | 20 | 23 | 2 | 7 | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock subject to awards | 350,000 | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' |
RSUs issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,124 | ' | ' | ' | ' | ' | ' | ' | 4,000 | 235,000 | 106,369 | 3,000 | 7,062 | 7,062 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of deferral matched with common stock | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Discontinued_Operation_Chassis
Discontinued Operation - Chassis - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 |
In Millions, unless otherwise specified | Chassis group [Member] | ||||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ' | ' | ' |
Cash received from discontinued operation | ' | ' | ' | ' | $150 |
Cash excluded from transaction | $101 | $51 | $54 | $55 | $1 |
Discontinued_Operations_Chassi
Discontinued Operations - Chassis - Summary of Net Sales, Income Before Income Tax Provision, Income Tax Provision and Income Attributable to the Discontinued Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income from discontinued operations, net of tax | $5 | ($117) | ($93) |
Chassis group [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Net sales | 189 | 194 | 213 |
Income before income tax provision | 15 | 10 | 29 |
Income tax provision | -10 | -3 | -9 |
Income from discontinued operations, net of tax | $5 | $7 | $20 |
Discontinued_Operations_Chassi1
Discontinued Operations - Chassis - Schedule of Assets and Liabilities Included in Held for Sale (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Goodwill | $22 |
Other intangible assets | 22 |
Total liabilities of discontinued operations | 31 |
Chassis group [Member] | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' |
Cash | 1 |
Accounts receivable | 9 |
Inventory | 74 |
Other current assets | 4 |
Property, plant and equipment | 8 |
Goodwill | 22 |
Other intangible assets | 22 |
Other assets | 1 |
Total assets of discontinued operations | 141 |
Accounts payable | 18 |
Other accrued expenses | 12 |
Accrued payroll and employee benefits | 1 |
Total liabilities of discontinued operations | $31 |
Discontinued_Operation_Brake_A
Discontinued Operation - Brake - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 28, 2012 | Jun. 30, 2012 | Nov. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Brake North America and Asia group [Member] | Brake North America and Asia group [Member] | Juarez Asset Sale [Member] | Juarez Asset Sale [Member] | BPI Holdings International, Inc. [Member] | BPI Holdings International, Inc. [Member] | BPI Holdings International, Inc. [Member] | BPI Holdings International, Inc. [Member] | ||
Class A [Member] | |||||||||
Long Lived Assets Held-for-sale [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital stock distribution | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Common stock and to the holders of Holding's | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% |
Preferred Stock, par value | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 |
Fair value of shares available for distribution | ($63) | ' | ' | ' | ' | ' | $63 | ' | ' |
Decrease in noncontrolling interest | 13 | ' | ' | ' | ' | ' | 13 | ' | ' |
Cash dividend received | ' | ' | ' | ' | ' | ' | 70 | ' | ' |
Borrowings under new credit facility | 76 | ' | ' | ' | ' | ' | 76.5 | ' | ' |
Cash included in distribution | -11 | ' | ' | ' | ' | 11 | ' | ' | ' |
Asset Purchase Agreement sale price | ' | ' | ' | 2.5 | ' | ' | ' | ' | ' |
Asset impairment charge and loss on sale | ' | ' | ' | ' | 6 | ' | ' | ' | ' |
Impairment charge recorded within discontinued operations | ' | ' | 165 | ' | ' | ' | ' | 86 | ' |
Tax benefit relating to impairment | ' | ' | 57 | ' | ' | ' | ' | ' | ' |
Operating profit (loss) | ' | ' | ' | ' | ' | ' | ' | 5 | ' |
Loss on discontinued operations before income tax provision | ' | 91 | 174 | ' | ' | ' | ' | 91 | ' |
Income tax provision related to discontinued operations | ' | $33 | ($61) | ' | ' | ' | ' | $33 | ' |
Discontinued_Operation_Brake_S
Discontinued Operation - Brake - Summary of Net Sales, Income (Loss) Before Income Tax Benefit (Provision), Income Tax Benefit (Provision), Loss from Discontinued Operations, Net of Tax, Net Income Attributable to Noncontrolling Interest, Net of Tax and Loss Attributable to the Discontinued Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Income (loss) from discontinued operations, net of tax | $5 | ($117) | ($93) |
Brake North America and Asia group [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Net sales | ' | 582 | 637 |
Loss before income tax benefit (provision) | ' | -91 | -174 |
Income tax benefit (provision) | ' | -33 | 61 |
Income (loss) from discontinued operations, net of tax | ' | -124 | -113 |
Less: net income attributable to noncontrolling interest, net of tax | ' | 1 | 1 |
Loss attributable to the discontinued operations | ' | ($125) | ($114) |
Inventories_net_Summary_of_Inv
Inventories, net - Summary of Inventories (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $67 | $77 |
Work-in-process | 17 | 19 |
Finished goods | 137 | 208 |
Inventories, net | $221 | $304 |
Inventories_net_Summary_of_Inv1
Inventories, net - Summary of Inventories (Parenthetical) (Detail) (Chassis group [Member], USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Chassis group [Member] | ' |
Inventory [Line Items] | ' |
Excluded inventory classified in current assets of discontinued operations | $74 |
Goodwill_Additional_Informatio
Goodwill - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $24 | $3 | $28 |
Goodwill recorded in current assets of discontinued operations | ' | 22 | ' |
Reduction of goodwill as a result of tax adjustments | -4 | ' | ' |
Filtration [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | ' | 3 | ' |
Chassis [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill recorded in current assets of discontinued operations | ' | $22 | ' |
Goodwill_Summary_of_Goodwill_A
Goodwill - Summary of Goodwill Activity (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Beginning balance | $24 | $28 |
Discontinued operations - Chassis group | -22 | ' |
Tax benefit reductions | ' | -4 |
Acquisition | 1 | ' |
Ending balance | $3 | $24 |
Other_Intangible_Assets_Additi
Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible asset amortization | $3 | $6 | $9 |
Goodwill | 3 | 24 | 28 |
Tax benefit reduction of intangible assets | -4 | ' | ' |
Accumulated amortization related to the continuing operations for the intangibles | 42 | 39 | ' |
2004 initial acquisition [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Goodwill | 0 | ' | ' |
Brake North America and Asia group [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization discontinued operations | 1 | 2 | 6 |
Maximum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization for continuing operations | 1 | ' | ' |
Amortization expense Period | '20 years | ' | ' |
Impairments of other intangible assets | 1 | 1 | ' |
Minimum [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense Period | '5 years | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible asset amortization | 2 | 4 | ' |
Tax benefit reduction of intangible assets | -2 | ' | ' |
Weighted average amortization period | '19 years | ' | ' |
Developed Technology and Other Intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible asset amortization | 1 | 2 | ' |
Tax benefit reduction of intangible assets | ($1) | ' | ' |
Weighted average amortization period | '17 years | ' | ' |
Other_Intangible_Assets_Other_
Other Intangible Assets - Other Intangible Assets (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Beginning balance | $88 | $94 | ' |
Amortization | -3 | -6 | -9 |
Tax benefit reductions | -4 | ' | ' |
Additions | 1 | ' | ' |
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | -22 | ' | ' |
Ending balance | 60 | 88 | 94 |
Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Beginning balance | 36 | 36 | ' |
Amortization | ' | ' | ' |
Tax benefit reductions | -1 | ' | ' |
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | -5 | ' | ' |
Ending balance | 30 | 36 | ' |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Beginning balance | 43 | 47 | ' |
Amortization | -2 | -4 | ' |
Tax benefit reductions | -2 | ' | ' |
Additions | 1 | ' | ' |
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | -13 | ' | ' |
Ending balance | 27 | 43 | ' |
Developed Technology and Other Intangibles [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Beginning balance | 9 | 11 | ' |
Amortization | -1 | -2 | ' |
Tax benefit reductions | -1 | ' | ' |
Intangibles related to the Chassis group reclassified to current assets of discontinued operations | -4 | ' | ' |
Ending balance | $3 | $9 | ' |
Other_Intangible_Assets_Other_1
Other Intangible Assets - Other Intangible Assets (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2011 |
In Millions, unless otherwise specified | Brake North America and Asia group [Member] | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Disposal group including discontinued operation intangible assets net | $22 | $53 |
Derivatives_Schedule_of_Fair_V
Derivatives - Schedule of Fair Value of Interest Rate Swaps and Our Currency Forward Contract Derivatives (Detail) (Income Approach [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Interest rate swap [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset (Liability) Fair Value | $11 | ' |
Foreign currency forward contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset (Liability) Fair Value | ' | ' |
Level II [Member] | Interest rate swap [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset (Liability) Fair Value | 11 | ' |
Level II [Member] | Foreign currency forward contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Asset (Liability) Fair Value | ' | ' |
Derivatives_Additional_Informa
Derivatives - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2012 |
Currency forward contracts [Member] | Term Loans B [Member] | Minimum [Member] | Interest rate swap [Member] | Interest rate swap [Member] | Interest rate swap [Member] | ||
Currency forward contracts [Member] | |||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Aggregate notional amount | ' | $86 | ' | ' | $300 | $300 | ' |
Asset Derivative | ' | ' | ' | 1 | ' | ' | ' |
Liability Derivative | ' | ' | ' | 1 | ' | ' | ' |
Term loan due date | ' | ' | 25-Apr-20 | ' | ' | ' | ' |
Reclassified from other comprehensive Income into interest expense | $2 | ' | ' | ' | ' | ' | ' |
Derivatives_Notional_Amount_of
Derivatives - Notional Amount of Outstanding Currency Forward Contracts (Detail) (Currency Forward Contracts [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Currency Forward Contracts [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | $86 | $69 |
Derivatives_Schedule_of_Forwar
Derivatives - Schedule of Forward Contract Currency Gains and Losses (Detail) (Currency Forward Contracts [Member], USD $) | 12 Months Ended | 144 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Currency Forward Contracts [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Gain (loss) on derivative instruments | $1 | $2 | $1 |
Derivatives_Notional_Amount_of1
Derivatives - Notional Amount of Outstanding Derivatives (Detail) (Interest rate swap [Member], USD $) | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
Interest rate swap [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Notional Amount | $300 | $300 | ' |
Debt_Schedule_of_Debt_Detail
Debt - Schedule of Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | $937 | $569 |
Less: current portion | -30 | -23 |
Long-term Debt, Excluding Current Maturities | 907 | 546 |
Other debt [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 23 | 23 |
9% Senior subordinated notes, due November 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | ' | 367 |
10.75% Senior secured notes, due August 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | ' | 179 |
7.75% Senior notes, due May 2021 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 250 | ' |
Term Loan B-1, due April 2016 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 199 | ' |
Term Loan B-2, due April 2020 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | 465 | ' |
ABL revolver, due April 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term Debt | ' | ' |
Debt_Schedule_of_Debt_Parenthe
Debt - Schedule of Debt (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | 9% Senior subordinated notes, due November 2014 [Member] | 9% Senior subordinated notes, due November 2014 [Member] | 10.75% Senior secured notes, due August 2016 [Member] | 10.75% Senior secured notes, due August 2016 [Member] | 7.75% Senior notes, due May 2021 [Member] | 7.75% Senior notes, due May 2021 [Member] | 7.75% Senior notes, due May 2021 [Member] | Term Loan B-1, due April 2016 [Member] | Term Loan B-2, due April 2020 [Member] | ABL revolver, due April 2018 [Member] | Poland [Member] | Poland [Member] | China [Member] | China [Member] | ||
Other debt [Member] | Other debt [Member] | Other debt [Member] | Other debt [Member] | |||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt maturity date | ' | ' | 1-Nov-14 | ' | 1-Aug-16 | ' | 1-May-21 | ' | ' | 25-Apr-16 | 25-Apr-20 | 25-Apr-18 | ' | ' | ' | ' |
Interest rate | ' | ' | 9.00% | 9.00% | 10.75% | 10.75% | 7.75% | 7.75% | 7.75% | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | $23 | $23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $20 | $20 | $3 | $3 |
LIBOR plus interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.90% | 0.90% |
Long term debt current maturities | $7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Scheduled_Maturities_of_D
Debt - Scheduled Maturities of Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $30 | ' |
2015 | 7 | ' |
2016 | 199 | ' |
2017 | 5 | ' |
2018 | 4 | ' |
2019 and thereafter | 692 | ' |
Total debt | $937 | $569 |
Debt_Schedule_of_Fair_Value_of
Debt - Schedule of Fair Value of Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | 7.75% Senior notes, due May 2021 [Member] | 7.75% Senior notes, due May 2021 [Member] | Term Loan B-1, due April 2016 [Member] | Term Loan B-1, due April 2016 [Member] | Term Loan B-2, due April 2020 [Member] | Term Loan B-2, due April 2020 [Member] | ABL revolver, due April 2018 [Member] | ABL revolver, due April 2018 [Member] | Senior subordinated notes, due November 2014 [Member] | Senior secured notes, due August 2016 [Member] | ABL revolver, due May 2017 [Member] | Other debt [Member] | Other debt [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt maturity date | ' | ' | 1-May-21 | ' | 25-Apr-16 | ' | 25-Apr-20 | ' | 25-Apr-18 | ' | 1-Nov-14 | 1-Aug-16 | 1-May-17 | ' | ' |
Book Value of Debt | $937 | $569 | $250 | ' | $199 | ' | $465 | ' | ' | ' | $367 | $179 | ' | $23 | $23 |
Fair Value Factor | ' | ' | 96.06% | ' | 100.63% | ' | 101.38% | ' | 100.00% | ' | 100.25% | 108.43% | 100.00% | 100.00% | 100.00% |
Fair Value of Debt | $934 | $585 | $240 | ' | $200 | ' | $471 | ' | ' | ' | $368 | $194 | ' | $23 | $23 |
Debt_Additional_Information_Ne
Debt - Additional Information - New ABL Revolver (Detail) (ABL Revolver [Member], USD $) | 12 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Nov. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 |
Maximum [Member] | Minimum [Member] | U.S. domestic borrowers [Member] | |||
Credit Facilities [Line Items] | ' | ' | ' | ' | ' |
Borrowings | ' | ' | ' | ' | $175 |
Sub-limit for letters of credit | ' | ' | ' | ' | 30 |
Swingline facility | ' | ' | ' | ' | 15 |
Outstanding credit facility | 0 | ' | ' | ' | ' |
Additional availability of debt | 117 | ' | ' | ' | ' |
Outstanding letters of credit | 10 | ' | ' | ' | ' |
Borrowing base reserves | 1 | ' | ' | ' | ' |
Debt maturity date | 25-Apr-18 | ' | ' | ' | ' |
Unused commitment fee, percentage used if the commitments utilized | ' | ' | 0.25% | 0.38% | ' |
Percentage of commitment fee | ' | ' | 50.00% | ' | ' |
Administration fees and fronting fees, percentage | 0.13% | ' | ' | ' | ' |
Percentage of fee payable increase | 2.00% | ' | ' | ' | ' |
Line of credit facility borrowing base | 17.5 | ' | ' | ' | ' |
Line of credit facility borrowing base, percentage | 12.50% | ' | ' | ' | ' |
Cash Dominion: Consecutive trading days threshold | '60 days | ' | ' | ' | ' |
Covenant: Availability percentage of total borrowing base | 10.00% | ' | ' | ' | ' |
Covenant: Availability dollar threshold | $15 | ' | ' | ' | ' |
Fixed charge coverage ratio | 0.0205 | 0.01 | ' | ' | ' |
Debt_Schedule_of_Interest_Rate
Debt - Schedule of Interest Rate and Fees (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Level I [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Average Aggregate Availability | $50 |
Level I [Member] | Base Rate Loans And Swingline Loans [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 1.00% |
Level I [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 2.00% |
Level II [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Average Aggregate Availability | 100 |
Level II [Member] | Minimum [Member] | ' |
Debt Instrument [Line Items] | ' |
Average Aggregate Availability | 50 |
Level II [Member] | Base Rate Loans And Swingline Loans [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 0.75% |
Level II [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 1.75% |
Level III [Member] | Minimum [Member] | ' |
Debt Instrument [Line Items] | ' |
Average Aggregate Availability | $100 |
Level III [Member] | Base Rate Loans And Swingline Loans [Member] | Minimum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 0.50% |
Level III [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | ' |
Debt Instrument [Line Items] | ' |
Base Rate Loans and Swingline Loans | 1.50% |
Debt_Additional_Information_In
Debt - Additional Information - Indenture (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Debt outstanding | $937 | ' | $569 |
Percentage ownership in guarantor subsidiaries | 100.00% | ' | ' |
7.75% Senior notes, due May 2021 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Accrued interest rate | 7.75% | 7.75% | 7.75% |
Interest payment term | 'Semi-annually on May 1 and November 1 of each year | ' | ' |
Debt Instrument Maturity Year | 1-May-21 | ' | ' |
Debt outstanding | $250 | ' | ' |
Minimum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Percentage of Trustees or holders of principal amount outstanding affected by default | 25.00% | ' | ' |
Debt_Additional_Information_Te
Debt - Additional Information - Term Loans Facility (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2012 | Feb. 04, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Feb. 04, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Senior Notes [Member] | Senior Notes [Member] | Secured Notes [Member] | Subsequent Event [Member] | Maximum [Member] | Minimum [Member] | Term Loan B-1 [Member] | Term Loan B-1 [Member] | Term Loan B-1 [Member] | Term Loan B-1 [Member] | Term Loan B-2 [Member] | Term Loan B-2 [Member] | Term Loan B-2 [Member] | Term Loan B-2 [Member] | ABL Revolver [Member] | ABL Revolver [Member] | Old ABL Revolver [Member] | New ABL Revolver [Member] | |||
Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Subsequent Event [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt outstanding | $937 | $569 | ' | ' | ' | ' | ' | ' | $200 | $199 | ' | ' | $470 | $465 | ' | ' | ' | ' | ' | ' |
Debt offering price percentage | ' | ' | ' | ' | ' | ' | ' | ' | 99.75% | ' | ' | ' | 99.50% | ' | ' | ' | ' | ' | ' | ' |
Proceeds from term loan | 667 | ' | ' | ' | ' | ' | ' | ' | 199 | ' | ' | ' | 468 | ' | ' | ' | ' | ' | ' | ' |
Amortization of debt discount | 1 | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' |
Amortization percentage per annum | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' |
Percentage of net proceeds from the incurrence of indebtedness other than permitted indebtedness | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net proceeds of asset sales including insurance or condemnation proceeds | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net proceeds of excess cash flow | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of net proceeds of excess cash flow leverage targets maximum | ' | ' | ' | ' | ' | ' | 25.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Voluntary prepayments premium payable on term loan percentage | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Voluntary prepayments on term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Six months following April 25, 2013 | ' | ' | ' | 'One year following April 25, 2013 | ' | ' | ' | ' | ' | ' |
Margin for borrowings under term loan with respect to base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | 2.75% | ' | ' | 2.50% | 3.50% | ' | ' | ' | ' |
LIBOR rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | 1.25% | ' | ' | ' | ' |
Interest rate for over due principal in excess of the rate applicable to base rate borrowings | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate in excess of the rate applicable to base rate borrowings | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-off interest expense for unamortized deferred financing costs associated with the redemption of Secured Notes | 8 | ' | 5 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' |
Total deferred financing cost | 15 | ' | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1 | ' |
Reduce dominion threshold of borrowing base rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.50% | ' | ' |
Dominion threshold borrowing base amount under ABL Amendment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.5 | ' | ' |
Availability under the ABL revolver | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' |
Availability under the ABL revolver amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' |
Thresholds consecutive days | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expenses charged on unamortized deferred financing period | ' | ' | ' | '8 years | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | '5 years |
Repayment amount of secured notes | $195 | $23 | ' | ' | $22.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Summarizes_Deferred_Finan
Debt - Summarizes Deferred Financing Activity (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Debt Disclosure [Abstract] | ' |
Beginning Balance | $15 |
Amortization | -4 |
Write-off of unamortized deferred financing costs | -8 |
Deferred financing costs | 15 |
Ending Balance | $18 |
Accounts_Receivable_Factoring_
Accounts Receivable Factoring - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transactions [Abstract] | ' | ' |
Factored receivable | $541 | $668 |
Factored receivable cost incurred | $4 | $5 |
Stock_Incentive_Plan_Additiona
Stock Incentive Plan - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 23, 2011 | Oct. 18, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 23, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 20, 2005 | Dec. 02, 2010 | Aug. 25, 2010 | Jul. 20, 2005 | Dec. 02, 2010 | Aug. 25, 2010 |
Selling, general and administrative expenses [Member] | Selling, general and administrative expenses [Member] | Selling, general and administrative expenses [Member] | EBITDA [Member] | Working capital performance targets [Member] | New Employee [Member] | Scenario, Previously Reported [Member] | Cypress Scenario [Member] | IPO Scenario [Member] | Stock options [Member] | Stock options [Member] | Option Exchange [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Restricted stock units [Member] | Option Exchange 2 [Member] | Option Exchange 2 [Member] | Deferred Compensation Plan [Member] | Deferred Compensation Plan [Member] | Deferred Compensation Plan [Member] | Time-based RSUs [Member] | Time-based RSUs [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | |||||
Brake North America and Asia group [Member] | Corporate Headquarters Closure [Member] | New Employee [Member] | Single employee [Member] | Cypress Scenario [Member] | IPO Scenario [Member] | Adjusted IPO Scenario [Member] | Adjusted IPO Scenario [Member] | Adjusted Cypress Scenario [Member] | Adjusted Cypress Scenario [Member] | New Employee [Member] | 2005 Stock Plan [Member] | 2005 Stock Plan [Member] | 2005 Stock Plan [Member] | 2005 Stock Plan [Member] | 2005 Stock Plan [Member] | ||||||||||||||||||||||||||||||
Brake North America and Asia group [Member] | Reduced Vesting Point [Member] | Reduced Vesting Point [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock subject to awards | 350,000 | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | 350,000 | 300,000 | 227,000 | 300,000 | 227,000 |
Eligible percentage of vesting | ' | ' | ' | ' | ' | ' | ' | 40.00% | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options awarded | 23,355 | 23,835 | 28,680 | 34,062 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,355 | 26,835 | 61,868 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 825 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested options | 23,355 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Aug-15 | ' | ' | ' | ' | ' | ' | ' | ' | 30-Nov-14 | ' | ' | 30-Nov-14 | ' | ' | ' | ' | ' | ' | ' | 23-Dec-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price of options | $62.87 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | $352 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option election period, commencement date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25-Aug-10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Dec-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock option election period, expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Sep-10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23-Dec-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of eligible option holders that elected to participate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of eligible employees and directors participating in plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of directors and employees not holding vested options and received awards in option exchange program | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSUs issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,124 | ' | ' | ' | ' | ' | ' | 4,000 | 235,000 | 106,369 | 3,000 | ' | ' | ' | ' | 7,062 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,062 | ' | ' | ' | ' | ' | ' |
Percentage of minimum common equity interests resulting in payment of cash and marketable securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average of closing price of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $225 | $225 | $159.30 | $200 | $141.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trading period of common stock (days) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 142,861 | 4,000 | ' | ' | ' | 92,245 | ' | ' | 92,514 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of anticipated value equal to severance payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Severance payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units granted to employees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70,621 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205,508 | 242,000 | 242,000 | 239,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value grants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' |
Stock compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27 | 28 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional notional investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2 | $1 | $2 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Incentive_Plan_Schedule_
Stock Incentive Plan - Schedule of Stock Plan Balances for Restricted Stock Units, Stock Options, Deferred Compensation Shares and Stock Awards (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock options | 23,355 | 23,835 | 28,680 | 34,062 |
Shares available | 80,230 | 50,767 | ' | ' |
Number of shares of common stock subject to awards | 350,000 | 350,000 | ' | ' |
Restricted stock units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Restricted stock units | 205,508 | 242,000 | 242,000 | 239,000 |
Stock options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock options | 26,355 | 26,835 | ' | ' |
Deferred compensation shares [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Deferred compensation shares | 37,744 | 30,235 | ' | ' |
Stock award [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock Award | 163 | 163 | ' | ' |
Stock_Incentive_Plan_Schedule_1
Stock Incentive Plan - Schedule of Weighted-Average Black-Scholes Fair Value Assumptions (Detail) (Stock options [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted-average effective term | '5 years 1 month 6 days | '5 years 1 month 6 days | '5 years 1 month 6 days |
Weighted-average risk free interest rate | 4.33% | 4.34% | 4.34% |
Weighted-average expected volatility | 40.00% | 39.90% | 39.90% |
Weighted-average fair value of options | $1 | $1 | $1 |
Stock_Incentive_Plan_Schedule_2
Stock Incentive Plan - Schedule of Stock Option Activity (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Beginning Balance | 23,835 | 28,680 | 34,062 |
Granted | ' | ' | 1,550 |
Exercised | ' | ' | -2,000 |
Exchanged | ' | ' | -825 |
Forfeited/expired | -480 | -4,845 | -4,107 |
Ending Balance | 23,355 | 23,835 | 28,680 |
Stock_Incentive_Plan_Schedule_3
Stock Incentive Plan - Schedule of Weighted-Average Monte Carlo Fair Value Assumptions (Detail) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 |
Cypress Scenario [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected expense | $18 |
Cypress Scenario [Member] | Restricted stock units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Weighted-average effective term | '5 months 9 days |
Weighted-average fair value of an RSU | $135.49 |
Expected expense | 27 |
IPO Scenario [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected expense | 17 |
IPO Scenario [Member] | Restricted stock units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Weighted-average effective term | '15 days |
Weighted-average fair value of an RSU | $141.86 |
Expected expense | $28 |
Stock_Incentive_Plan_Schedule_4
Stock Incentive Plan - Schedule of Restricted Stock Units (Detail) (Restricted stock units [Member]) | 0 Months Ended | 12 Months Ended | ||
Dec. 23, 2011 | Oct. 18, 2010 | Dec. 31, 2013 | Dec. 31, 2011 | |
Restricted stock units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Beginning Balance | ' | ' | 242,000 | 239,000 |
Issued per Option Exchange | ' | ' | ' | 4,000 |
Granted | 4,000 | 235,000 | 106,369 | 3,000 |
Forfeited/expired | ' | ' | -142,861 | -4,000 |
Ending Balance | ' | ' | 205,508 | 242,000 |
Income_Tax_Schedule_of_Compone
Income Tax - Schedule of Components of Income Tax Provision (Benefit) (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Total current | $24 | $19 | $18 |
Deferred: | ' | ' | ' |
Total deferred | -2 | 26 | 10 |
Income tax provision | 22 | 45 | 28 |
United States [Member] | ' | ' | ' |
Current: | ' | ' | ' |
U.S. federal | ' | ' | ' |
U.S. state and local | ' | ' | 1 |
Deferred: | ' | ' | ' |
U.S. federal & state | -8 | 26 | 7 |
Non-United States [Member] | ' | ' | ' |
Current: | ' | ' | ' |
Non-United States | 24 | 19 | 17 |
Deferred: | ' | ' | ' |
Non-United States | $6 | ' | $3 |
Income_Tax_Components_of_Incom
Income Tax - Components of Income before Income Tax, Equity, Net of Tax and Noncontrolling Interest (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments [Line Items] | ' | ' | ' |
Income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | $29 | $59 | $49 |
United States [Member] | ' | ' | ' |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments [Line Items] | ' | ' | ' |
Income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | -75 | -27 | -38 |
Non-United States [Member] | ' | ' | ' |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments [Line Items] | ' | ' | ' |
Income from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | $104 | $86 | $87 |
Income_Tax_Schedule_of_Deferre
Income Tax - Schedule of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Deferred tax assets: | ' | ' |
Net operating and other loss carryforwards | $130 | $139 |
Inventory reserves | 8 | 10 |
Expense accruals | 41 | 14 |
Other | 7 | 3 |
Subtotal | 186 | 166 |
Valuation allowance | -31 | -22 |
Deferred tax assets | 155 | 144 |
Deferred tax liabilities: | ' | ' |
Depreciation & amortization | 11 | 2 |
Foreign earnings | 23 | 25 |
Other liabilities | 4 | ' |
Deferred tax liabilities | 38 | 27 |
Net deferred tax assets | 117 | 117 |
Balance Sheet Presentation: | ' | ' |
Current deferred taxes | 39 | 13 |
Deferred income taxes | 80 | 106 |
Deferred employee benefits & other noncurrent liabilities | -2 | -2 |
Net deferred tax assets | $117 | $117 |
Income_Tax_Additional_Informat
Income Tax - Additional Information (Detail) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Tax Credit Carryforward [Line Items] | ' |
Temporary differences resulted upon a repatriation of assets from the subsidiary or a sale or liquidation | $72 |
Portion of the unrecognized tax benefits if recognized, reduction of annual effective tax rate | 8 |
Accrued interest and penalties | 1 |
Accrued income tax expense | 8 |
United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 301 |
State domestic [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 205 |
State domestic [Member] | Minimum [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards, expiry date | '2023 |
State domestic [Member] | Maximum [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards, expiry date | '2033 |
Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 15 |
2024 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 12 |
Net operating loss carryforwards, expiry date | '2024 |
2025 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 13 |
Net operating loss carryforwards, expiry date | '2025 |
2026 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 37 |
Net operating loss carryforwards, expiry date | '2026 |
2027 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 35 |
Net operating loss carryforwards, expiry date | '2027 |
2028 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 76 |
Net operating loss carryforwards, expiry date | '2028 |
2029 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 62 |
Net operating loss carryforwards, expiry date | '2029 |
2030 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 33 |
Net operating loss carryforwards, expiry date | '2030 |
2031 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 21 |
Net operating loss carryforwards, expiry date | '2031 |
2032 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 11 |
Net operating loss carryforwards, expiry date | '2032 |
2033 [Member] | United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 1 |
Net operating loss carryforwards, expiry date | '2033 |
2014 [Member] | Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 2 |
Net operating loss carryforwards, expiry date | '2014 |
2015 [Member] | Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 2 |
Net operating loss carryforwards, expiry date | '2015 |
2016 [Member] | Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 4 |
Net operating loss carryforwards, expiry date | '2016 |
2017 [Member] | Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | 4 |
Net operating loss carryforwards, expiry date | '2017 |
2018 [Member] | Non-United States [Member] | ' |
Tax Credit Carryforward [Line Items] | ' |
Net operating loss carryforwards | $3 |
Net operating loss carryforwards, expiry date | '2018 |
Income_Taxes_Schedule_of_Recon
Income Taxes - Schedule of Reconciliation of Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. federal income tax rate | 35.00% | 35.00% | 35.00% |
Increase (reductions) resulting from: | ' | ' | ' |
State and local income taxes, net of federal income tax benefit | -5.50% | 1.10% | -3.30% |
Valuation allowance | 6.20% | -1.00% | 5.50% |
Non-U.S. income | -40.80% | -14.30% | -18.80% |
U.S. Permanent Differences | 66.70% | 45.00% | 23.90% |
Unrecognized Tax Benefits | 23.60% | ' | ' |
Unremitted Earnings | -8.30% | 11.50% | 15.20% |
Miscellaneous items | 0.00% | -0.80% | 0.00% |
Effective income tax rate | 76.90% | 76.50% | 57.50% |
Income_Tax_Summary_of_Unrecogn
Income Tax - Summary of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Beginning Balance | $1 | $2 | $2 |
Increases to tax positions | 7 | ' | ' |
Decreases to tax positions | ' | -1 | ' |
Ending Balance | $8 | $1 | $2 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $261 | $252 |
Less: Accumulated depreciation | -138 | -133 |
Property, plant equipment net | 123 | 119 |
Land and improvements to land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 7 | 8 |
Buildings and building fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 54 | 55 |
Machinery and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 167 | 159 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | 17 | 21 |
Construction in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment | $16 | $9 |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation expenses | $18 | $18 | $15 |
Other_Accrued_Expenses_Schedul
Other Accrued Expenses - Schedule of Other Accrued Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Other Income And Expenses [Abstract] | ' | ' | ' |
Taxes other than income taxes | $14 | $11 | ' |
Interest payable | 4 | 10 | ' |
Return reserve | 6 | 8 | ' |
Tax deposit payable | 9 | 5 | ' |
Accrued legal and professional fees | 16 | 4 | ' |
Accrued promotions and defective product | 1 | 4 | ' |
Accrued selling and marketing | 2 | 3 | ' |
Accrued freight | 2 | 3 | ' |
Accrued commissions expense | 2 | 3 | ' |
Accrued workers compensation | 1 | 2 | ' |
Accrued restructuring | 5 | 1 | 2 |
Other | 16 | 14 | ' |
Total | $78 | $68 | ' |
Other_Accrued_Expenses_Schedul1
Other Accrued Expenses - Schedule of Reconciliation of Changes in Return Reserves (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Return reserves [Member] | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' |
Balance at beginning of period | $8 | $11 | $17 |
Amounts charged to revenue | 19 | 23 | 45 |
Returns processed | -15 | -26 | -45 |
Balance at end of period | 6 | 8 | 11 |
Brake North America and Asia group [Member] | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' |
Balance at beginning of period | ' | 6 | 8 |
Amounts charged to revenue | ' | 15 | 22 |
Returns processed | ' | -21 | -24 |
Balance at end of period | ' | ' | 6 |
Brake North America and Asia group [Member] | Return reserves [Member] | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' |
Classified to discontinued operations | ($6) | ' | ($6) |
Other_Accrued_Expenses_Schedul2
Other Accrued Expenses - Schedule of Reconciliation of Changes in Return Reserves (Parenthetical) (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Return reserves [Member] | ' | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' | ' |
Amounts charged to revenue | $19 | $23 | $45 | ' |
Returns processed | 15 | 26 | 45 | ' |
Return reserve included (excluded) in discontinued operations | 6 | 8 | 11 | 17 |
Brake North America and Asia group [Member] | ' | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' | ' |
Amounts charged to revenue | ' | 15 | 22 | ' |
Returns processed | ' | 21 | 24 | ' |
Return reserve included (excluded) in discontinued operations | ' | ' | 6 | 8 |
Chassis group [Member] | ' | ' | ' | ' |
Accrued Expenses [Line Items] | ' | ' | ' | ' |
Amounts charged to revenue | 9 | ' | ' | ' |
Returns processed | 6 | ' | ' | ' |
Return reserve included (excluded) in discontinued operations | $6 | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | ||||||
In Millions, unless otherwise specified | Sep. 30, 2011 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 14, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | GBP (£) | Quinton Hazell [Member] | Subsequent Event [Member] | Chassis group [Member] | Minimum [Member] | Maximum [Member] | |
USD ($) | Quinton Hazell [Member] | USD ($) | USD ($) | USD ($) | |||||||
USD ($) | |||||||||||
Long-term Purchase Commitment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase commitments for property, plant and equipment | ' | ' | $8 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cancelable operating leases in operations | ' | ' | 50 | ' | ' | ' | ' | ' | 4 | ' | ' |
Rent expense from continuing operations | ' | ' | 10 | 9 | 9 | ' | ' | ' | ' | ' | ' |
Entered into settlement agreement with Satisfied Brake Products Inc. | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount due upon execution of settlement agreement | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Execution of settlement agreement additional | 7.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on settlement agreement | 2.5 | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unpaid invoices | ' | ' | ' | ' | ' | 5.7 | ' | ' | ' | ' | ' |
Asserting a claim against Affinia Group Inc. date | ' | ' | 15-Feb-13 | ' | ' | ' | ' | ' | ' | ' | ' |
Bankruptcy Date | ' | ' | ' | ' | ' | ' | 28-Jan-13 | ' | ' | ' | ' |
Logistics Services Agreement Date | ' | ' | ' | ' | ' | ' | 5-May-06 | ' | ' | ' | ' |
Litigation reserve | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' |
Settlement agreement amount | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' |
Accrued for civil liability | ' | ' | 13 | 1 | ' | ' | ' | ' | ' | 1 | 10 |
Fair value of guarantee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Rental Commitments under Non-Cancelable Operating Leases in Continuing Operations (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Leases [Abstract] | ' |
2014 | $9 |
2015 | 8 |
2016 | 7 |
2017 | 7 |
2018 | 7 |
Thereafter | 12 |
Total | $50 |
Restructuring_of_Operations_Ad
Restructuring of Operations - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Accrued restructuring | $5 | $1 | $2 |
Corporate Headquarters Closure [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Accrued restructuring | $4 | ' | ' |
Restructuring_of_Operations_Sc
Restructuring of Operations - Schedule of Restructuring Charges and Activity (Detail) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Beginning balance | $1 | $2 |
Charges to expense: | ' | ' |
Restructuring expenses | ' | 2 |
Cash payments and asset write-offs: | ' | ' |
Cash payments | -2 | -2 |
Asset retirements and other | ' | -1 |
Ending balance | 5 | 1 |
Employee termination benefits [Member] | ' | ' |
Charges to expense: | ' | ' |
Restructuring expenses | 6 | 1 |
Asset write-offs expense [Member] | ' | ' |
Charges to expense: | ' | ' |
Restructuring expenses | ' | ' |
Other expenses [Member] | ' | ' |
Charges to expense: | ' | ' |
Restructuring expenses | ' | $1 |
Restructuring_of_Operations_Sc1
Restructuring of Operations - Schedule of Restructuring Charges and Activity (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Discontinued operations | $5 | $1 | $2 |
Brake North America and Asia group [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Discontinued operations | ' | ' | $1 |
Restructuring_of_Operations_Sc2
Restructuring of Operations - Schedule of Restructuring Expenses by Segment (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | ' | $2 | ' |
Reportable Subsegments [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | 6 | 21 | 12 |
Reportable Subsegments [Member] | Affinia South America Segment [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | ' | 1 | ' |
Reportable Subsegments [Member] | Brake North America and Asia group [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | ' | 20 | 12 |
Reportable Subsegments [Member] | Continuing operations [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | 6 | 1 | ' |
Reportable Subsegments [Member] | Corporate, eliminations and other [Member] | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' |
Restructuring expenses by segment | $6 | ' | ' |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2011 | Jun. 30, 2011 | Mar. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2012 | Dec. 31, 2011 |
Poland [Member] | Poland [Member] | Brake TSA [Member] | Brake TSA [Member] | Brake TSA [Member] | Brake TSA [Member] | Genuine Parts Company [Member] | Genuine Parts Company [Member] | Genuine Parts Company [Member] | Affinia Hong Kong Limited [Member] | Affinia Hong Kong Limited [Member] | Affinia Qingdao Braking Systems Co. Ltd. [Member] | Longkou Wix Filtration Co. Ltd. [Member] | Longkou Wix Filtration Co. Ltd. [Member] | ||||||||
Maximum [Member] | Maximum [Member] | ||||||||||||||||||||
Related Party Transactions Supervisory And Other Services [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiry period of transition services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution and transition services charges levied by related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1 | $9 | ' | ' | ' | ' | ' | ' | ' | ' |
Transition services charges levied to related party | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of total net sales from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22.00% | 23.00% | 22.00% | ' | ' | ' | ' | ' |
Ownership Percentage by Affinia Group | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | 15.00% | ' | 15.00% | ' |
Loan for establishment of new subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' |
Ownership percentage by AHK | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Related party debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' |
Purchase of land | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.5 | ' | ' | ' | ' |
Additional Funding | ' | ' | ' | ' | ' | ' | 0.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% |
Agreed to pay quarterly fee | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment received for services rendered by general manager | ' | ' | ' | ' | ' | ' | ' | 0.4 | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchases from related party | ' | ' | ' | ' | ' | ' | ' | $2 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments included in continuing operations | 2 |
Segment_Information_Reconcilia
Segment Information - Reconciliation of Sales, Operating Profit, Total Assets, Depreciation and Amortization and Capital Expenditures (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | $1,361 | $1,259 | $1,266 |
Operating Profit | 118 | 120 | 112 |
Capital Expenditures | 31 | 27 | 55 |
Total assets | 1,009 | 960 | ' |
Depreciation and amortization | 22 | 24 | 39 |
Total from continuing operations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Expenditures | 27 | 17 | 27 |
Depreciation and amortization | 21 | 22 | 23 |
Discontinued operations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Capital Expenditures | 4 | 10 | 28 |
Depreciation and amortization | 1 | 2 | 16 |
Chassis group [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | ' | 151 | ' |
Assets of discontinued operations [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Total assets | 141 | ' | ' |
Operating Segments [Member] | Filtration Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 902 | 831 | 801 |
Operating Profit | 132 | 122 | 105 |
Capital Expenditures | 22 | 12 | 22 |
Total assets | 405 | 343 | ' |
Depreciation and amortization | 15 | 14 | 13 |
Operating Segments [Member] | Affinia South America Segment [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 459 | 430 | 469 |
Operating Profit | 36 | 32 | 34 |
Capital Expenditures | 5 | 5 | 5 |
Total assets | 220 | 226 | ' |
Depreciation and amortization | 3 | 3 | 2 |
Corporate, eliminations and other [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | ' | -2 | -4 |
Operating Profit | -50 | -34 | -27 |
Capital Expenditures | ' | ' | ' |
Total assets | 243 | 240 | ' |
Depreciation and amortization | $3 | $5 | $8 |
Segment_Information_Net_Sales_
Segment Information - Net Sales by Geographic Region (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | $1,361 | $1,259 | $1,266 |
Brazil [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 411 | 389 | 438 |
Canada [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 47 | 47 | 45 |
Poland [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 161 | 146 | 147 |
Other Countries [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 164 | 122 | 93 |
Total Other Countries [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | 783 | 704 | 723 |
United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Net sales | $578 | $555 | $543 |
Segment_Information_Long_Lived
Segment Information - Long Lived Assets by Geographic Region (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | $204 | $246 |
China [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | 18 | 17 |
Brazil [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | 14 | 14 |
Poland [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | 30 | 29 |
Other Countries [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | 12 | 9 |
Total Other Countries [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | 74 | 69 |
United States [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | $130 | $177 |
Segment_Information_Long_Lived1
Segment Information - Long Lived Assets by Geographic Region (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | $204 | $246 |
Chassis group [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Geographic data for long-lived assets | $52 | ' |
Venezuelan_Operations_Addition
Venezuelan Operations - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2010 | Feb. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 |
Minimum [Member] | Maximum [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | Venezuela inflationary accounting [Member] | |||||
Rate | Rate | Venezuelan subsidiary [Member] | Venezuelan subsidiary [Member] | Venezuelan subsidiary [Member] | Minimum [Member] | Maximum [Member] | ||||||||
Venezuelan subsidiary [Member] | ||||||||||||||
Foreign Operation (Line Items) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exceeded percentages of national consumer price index | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Highly inflationary economy | ' | ' | ' | ' | ' | ' | ' | 'Three-year | ' | ' | ' | ' | ' | ' |
Conversion rate for essential goods and services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.15 | ' |
Parallel market rate for U.S Dollar | ' | ' | ' | ' | 5.3 | 7.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of negative impact on pre-tax net income, due to devaluation | ' | ' | ' | $2 | ' | ' | $3 | ' | ' | ' | ' | ' | ' | ' |
Devaluation of currency VEF per U.S. Dollar | ' | ' | ' | ' | ' | ' | ' | ' | 6.3 | ' | ' | ' | ' | ' |
Percentage of sales earned from subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 3.00% | 2.00% | ' | ' |
Net income loss attributable to company | 10 | -103 | -73 | ' | ' | ' | ' | ' | ' | 5 | ' | 3 | ' | 1 |
Total assets | 1,009 | 960 | ' | ' | ' | ' | ' | ' | ' | 28 | 15 | ' | ' | ' |
Total liabilities | $1,210 | $809 | ' | ' | ' | ' | ' | ' | ' | $18 | $12 | ' | ' | ' |
Financial_Information_for_Guar2
Financial Information for Guarantors and Non-Guarantors - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Apr. 25, 2013 |
Senior Notes [Member] | Senior Notes [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Aggregate principal amount | ' | ' | $250 |
Debt outstanding | ' | $250 | ' |
Ownership interest in Affinia Group Inc. | 100.00% | ' | ' |
Financial_Information_for_Guar3
Financial Information for Guarantors and Non-Guarantors - Guarantor Condensed Consolidating Statement of Operations (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | $1,361 | $1,259 | $1,266 |
Cost of sales | -1,043 | -967 | -979 |
Gross profit | 318 | 292 | 287 |
Selling, general and administrative expenses | -200 | -172 | -175 |
Operating (loss) profit | 118 | 120 | 112 |
Loss on extinguishment of debt | -15 | -1 | ' |
Other income (loss), net | -1 | 3 | 4 |
Interest expense | -73 | -63 | -67 |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | 29 | 59 | 49 |
Income tax provision | -22 | -45 | -28 |
Equity in income (loss), net of tax | -2 | 1 | ' |
Net income (loss) from continuing operations | 5 | 15 | 21 |
Income (loss) from discontinued operations, net of tax | 5 | -117 | -93 |
Net income (loss) | 10 | -102 | -72 |
Less: net income attributable to noncontrolling interest, net of tax | ' | 1 | 1 |
Net income (loss) attributable to the Company | 10 | -103 | -73 |
Parent [Member] | ' | ' | ' |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | ' | ' | ' |
Cost of sales | ' | ' | ' |
Gross profit | ' | ' | ' |
Selling, general and administrative expenses | ' | ' | ' |
Operating (loss) profit | ' | ' | ' |
Loss on extinguishment of debt | ' | ' | ' |
Other income (loss), net | ' | ' | ' |
Interest expense | ' | ' | ' |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | ' | ' | ' |
Income tax provision | ' | ' | ' |
Equity in income (loss), net of tax | 10 | -103 | -73 |
Net income (loss) from continuing operations | 10 | -103 | -73 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' |
Net income (loss) | 10 | -103 | -73 |
Less: net income attributable to noncontrolling interest, net of tax | ' | ' | ' |
Net income (loss) attributable to the Company | 10 | -103 | -73 |
Issuer [Member] | ' | ' | ' |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | ' | ' | ' |
Cost of sales | ' | ' | ' |
Gross profit | ' | ' | ' |
Selling, general and administrative expenses | -46 | -45 | -26 |
Operating (loss) profit | -46 | -45 | -26 |
Loss on extinguishment of debt | -15 | -1 | ' |
Other income (loss), net | -2 | 3 | ' |
Interest expense | -72 | -62 | -66 |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | -135 | -105 | -92 |
Income tax provision | 2 | -21 | -11 |
Equity in income (loss), net of tax | 143 | 23 | 30 |
Net income (loss) from continuing operations | 10 | -103 | -73 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' |
Net income (loss) | 10 | -103 | -73 |
Less: net income attributable to noncontrolling interest, net of tax | ' | ' | ' |
Net income (loss) attributable to the Company | 10 | -103 | -73 |
Guarantor [Member] | ' | ' | ' |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | 628 | 609 | 595 |
Cost of sales | -506 | -490 | -480 |
Gross profit | 122 | 119 | 115 |
Selling, general and administrative expenses | -63 | -46 | -64 |
Operating (loss) profit | 59 | 73 | 51 |
Loss on extinguishment of debt | ' | ' | ' |
Other income (loss), net | 1 | -4 | -3 |
Interest expense | ' | ' | ' |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | 60 | 69 | 48 |
Income tax provision | ' | 2 | 8 |
Equity in income (loss), net of tax | 64 | 653 | 55 |
Net income (loss) from continuing operations | 124 | 724 | 111 |
Income (loss) from discontinued operations, net of tax | 19 | -701 | -80 |
Net income (loss) | 143 | 23 | 31 |
Less: net income attributable to noncontrolling interest, net of tax | ' | ' | 1 |
Net income (loss) attributable to the Company | 143 | 23 | 30 |
Non-Guarantor [Member] | ' | ' | ' |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | 877 | 997 | 997 |
Cost of sales | -681 | -824 | -825 |
Gross profit | 196 | 173 | 172 |
Selling, general and administrative expenses | -91 | -81 | -85 |
Operating (loss) profit | 105 | 92 | 87 |
Loss on extinguishment of debt | ' | ' | ' |
Other income (loss), net | ' | 4 | 7 |
Interest expense | -1 | -1 | -1 |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | 104 | 95 | 93 |
Income tax provision | -24 | -26 | -25 |
Equity in income (loss), net of tax | -2 | 1 | ' |
Net income (loss) from continuing operations | 78 | 70 | 68 |
Income (loss) from discontinued operations, net of tax | -14 | 584 | -13 |
Net income (loss) | 64 | 654 | 55 |
Less: net income attributable to noncontrolling interest, net of tax | ' | 1 | ' |
Net income (loss) attributable to the Company | 64 | 653 | 55 |
Eliminations [Member] | ' | ' | ' |
Schedule Of Condensed Statements Of Operations [Line Items] | ' | ' | ' |
Net sales | -144 | -347 | -326 |
Cost of sales | 144 | 347 | 326 |
Gross profit | ' | ' | ' |
Selling, general and administrative expenses | ' | ' | ' |
Operating (loss) profit | ' | ' | ' |
Loss on extinguishment of debt | ' | ' | ' |
Other income (loss), net | ' | ' | ' |
Interest expense | ' | ' | ' |
Income (loss) from continuing operations before income tax provision, equity in income, net of tax and noncontrolling interest | ' | ' | ' |
Income tax provision | ' | ' | ' |
Equity in income (loss), net of tax | -217 | -573 | -12 |
Net income (loss) from continuing operations | -217 | -573 | -12 |
Income (loss) from discontinued operations, net of tax | ' | ' | ' |
Net income (loss) | -217 | -573 | -12 |
Less: net income attributable to noncontrolling interest, net of tax | ' | ' | ' |
Net income (loss) attributable to the Company | ($217) | ($573) | ($12) |
Financial_Information_for_Guar4
Financial Information for Guarantors and Non-Guarantors - Guarantor Condensed Consolidating Statement of Comprehensive Income (Loss) (Detail) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | $10 | ($102) | ($72) | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Pension liability adjustment | 1 | ' | -1 | |||
Change in foreign currency translation adjustments | -19 | [1] | -15 | [1] | -32 | [1] |
Change in fair value of interest rate swaps | 9 | [2] | ' | ' | ||
Less: reclassification adjustments included in net income | -2 | ' | ' | |||
Total other comprehensive income (loss) | -11 | -15 | -33 | |||
Total comprehensive income | -1 | -117 | -105 | |||
Less: comprehensive income attributable to noncontrolling interest, net of tax | ' | 1 | 1 | |||
Comprehensive income (loss) attributable to the Company | -1 | -118 | -106 | |||
Parent [Member] | ' | ' | ' | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | 10 | -103 | -73 | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Pension liability adjustment | 1 | ' | -1 | |||
Change in foreign currency translation adjustments | -19 | -15 | -32 | |||
Change in fair value of interest rate swaps | 9 | ' | ' | |||
Less: reclassification adjustments included in net income | -2 | ' | ' | |||
Total other comprehensive income (loss) | -11 | -15 | -33 | |||
Total comprehensive income | -1 | -118 | -106 | |||
Comprehensive income (loss) attributable to the Company | -1 | -118 | -106 | |||
Issuer [Member] | ' | ' | ' | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | 10 | -103 | -73 | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Pension liability adjustment | 1 | ' | -1 | |||
Change in foreign currency translation adjustments | -19 | -15 | -32 | |||
Change in fair value of interest rate swaps | 9 | ' | ' | |||
Less: reclassification adjustments included in net income | -2 | ' | ' | |||
Total other comprehensive income (loss) | -11 | -15 | -33 | |||
Total comprehensive income | -1 | -118 | -106 | |||
Comprehensive income (loss) attributable to the Company | -1 | -118 | -106 | |||
Guarantor [Member] | ' | ' | ' | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | 143 | 23 | 31 | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Total comprehensive income | 143 | 23 | 31 | |||
Less: comprehensive income attributable to noncontrolling interest, net of tax | ' | ' | 1 | |||
Comprehensive income (loss) attributable to the Company | 143 | 23 | 30 | |||
Non-Guarantor [Member] | ' | ' | ' | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | 64 | 654 | 55 | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Pension liability adjustment | 1 | ' | -1 | |||
Change in foreign currency translation adjustments | -19 | -15 | -32 | |||
Total other comprehensive income (loss) | -18 | -15 | -33 | |||
Total comprehensive income | 46 | 639 | 22 | |||
Less: comprehensive income attributable to noncontrolling interest, net of tax | ' | 1 | ' | |||
Comprehensive income (loss) attributable to the Company | 46 | 638 | 22 | |||
Eliminations [Member] | ' | ' | ' | |||
Schedule of Condensed Consolidating Statement of Comprehensive Income [Line Items] | ' | ' | ' | |||
Net income | -217 | -573 | -12 | |||
Other comprehensive income (loss), net of tax: | ' | ' | ' | |||
Pension liability adjustment | -2 | ' | 2 | |||
Change in foreign currency translation adjustments | 38 | 30 | 64 | |||
Change in fair value of interest rate swaps | -9 | ' | ' | |||
Less: reclassification adjustments included in net income | 2 | ' | ' | |||
Total other comprehensive income (loss) | 29 | 30 | 66 | |||
Total comprehensive income | -188 | -543 | 54 | |||
Comprehensive income (loss) attributable to the Company | ($188) | ($543) | $54 | |||
[1] | Net of $3 million tax expense in 2013, $4 million tax expense in 2012 and $1 million tax expense in 2011. | |||||
[2] | Net of $4 million tax expense in 2013. |
Financial_Information_for_Guar5
Financial Information for Guarantors and Non-Guarantors - Guarantor Condensed Consolidating Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | $101 | $51 | $54 | $55 |
Accounts receivable | 141 | 163 | ' | ' |
Inventories | 221 | 304 | ' | ' |
Other current assets | 100 | 65 | ' | ' |
Current assets of discontinued operations | 141 | ' | ' | ' |
Total current assets | 704 | 583 | ' | ' |
Investments and other assets | 182 | 258 | ' | ' |
Property, plant and equipment, net | 123 | 119 | ' | ' |
Total assets | 1,009 | 960 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 121 | 143 | ' | ' |
Notes payable | 23 | 23 | ' | ' |
Current maturities of long-term debt | 7 | ' | ' | ' |
Accrued payroll and employee benefits | 19 | 17 | ' | ' |
Other accrued liabilities | 78 | 68 | ' | ' |
Current liabilities of discontinued operations | 31 | ' | ' | ' |
Total current liabilities | 279 | 251 | ' | ' |
Deferred employee benefits and noncurrent liabilities | 24 | 12 | ' | ' |
Long-term debt net of current maturities | 907 | 546 | ' | ' |
Total liabilities | 1,210 | 809 | ' | ' |
Total shareholder's equity | -201 | 151 | 347 | 448 |
Total liabilities and equity | 1,009 | 960 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | 0 | ' | ' |
Intercompany investments | -202 | 150 | ' | ' |
Total assets | -202 | 150 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Total shareholder's equity | -202 | 150 | ' | ' |
Total liabilities and equity | -202 | 150 | ' | ' |
Issuer [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 68 | 23 | 9 | 9 |
Accounts receivable | ' | 2 | ' | ' |
Other current assets | 50 | 15 | ' | ' |
Total current assets | 118 | 40 | ' | ' |
Investments and other assets | 122 | 197 | ' | ' |
Intercompany investments | 1,196 | 724 | ' | ' |
Intercompany receivables (payables) | -672 | -227 | ' | ' |
Property, plant and equipment, net | 2 | 2 | ' | ' |
Total assets | 766 | 736 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 6 | 11 | ' | ' |
Current maturities of long-term debt | 7 | ' | ' | ' |
Accrued payroll and employee benefits | 8 | 7 | ' | ' |
Other accrued liabilities | 22 | 15 | ' | ' |
Total current liabilities | 43 | 33 | ' | ' |
Deferred employee benefits and noncurrent liabilities | 17 | 6 | ' | ' |
Long-term debt net of current maturities | 907 | 546 | ' | ' |
Total liabilities | 967 | 585 | ' | ' |
Total shareholder's equity | -201 | 151 | ' | ' |
Total liabilities and equity | 766 | 736 | ' | ' |
Guarantor [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | 0 | ' | 3 |
Accounts receivable | 24 | 39 | ' | ' |
Inventories | 87 | 172 | ' | ' |
Other current assets | ' | 9 | ' | ' |
Current assets of discontinued operations | 138 | ' | ' | ' |
Total current assets | 249 | 220 | ' | ' |
Investments and other assets | 36 | 41 | ' | ' |
Intercompany investments | 726 | 652 | ' | ' |
Intercompany receivables (payables) | 247 | -134 | ' | ' |
Property, plant and equipment, net | 50 | 48 | ' | ' |
Total assets | 1,308 | 827 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 65 | 79 | ' | ' |
Accrued payroll and employee benefits | 3 | 3 | ' | ' |
Other accrued liabilities | 14 | 21 | ' | ' |
Current liabilities of discontinued operations | 29 | ' | ' | ' |
Total current liabilities | 111 | 103 | ' | ' |
Deferred employee benefits and noncurrent liabilities | 1 | ' | ' | ' |
Total liabilities | 112 | 103 | ' | ' |
Total shareholder's equity | 1,196 | 724 | ' | ' |
Total liabilities and equity | 1,308 | 827 | ' | ' |
Non-Guarantor [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | 33 | 28 | 45 | 43 |
Accounts receivable | 117 | 122 | ' | ' |
Inventories | 134 | 132 | ' | ' |
Other current assets | 50 | 41 | ' | ' |
Current assets of discontinued operations | 3 | ' | ' | ' |
Total current assets | 337 | 323 | ' | ' |
Investments and other assets | 24 | 20 | ' | ' |
Intercompany receivables (payables) | 425 | 361 | ' | ' |
Property, plant and equipment, net | 71 | 69 | ' | ' |
Total assets | 857 | 773 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Accounts payable | 50 | 53 | ' | ' |
Notes payable | 23 | 23 | ' | ' |
Accrued payroll and employee benefits | 8 | 7 | ' | ' |
Other accrued liabilities | 42 | 32 | ' | ' |
Current liabilities of discontinued operations | 2 | ' | ' | ' |
Total current liabilities | 125 | 115 | ' | ' |
Deferred employee benefits and noncurrent liabilities | 6 | 6 | ' | ' |
Total liabilities | 131 | 121 | ' | ' |
Total shareholder's equity | 726 | 652 | ' | ' |
Total liabilities and equity | 857 | 773 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Current assets: | ' | ' | ' | ' |
Cash and cash equivalents | ' | 0 | ' | ' |
Intercompany investments | -1,720 | -1,526 | ' | ' |
Total assets | -1,720 | -1,526 | ' | ' |
Current liabilities: | ' | ' | ' | ' |
Total shareholder's equity | -1,720 | -1,526 | ' | ' |
Total liabilities and equity | ($1,720) | ($1,526) | ' | ' |
Financial_Information_for_Guar6
Financial Information for Guarantors and Non-Guarantors - Guarantor Condensed Consolidating Cash Flow Statement (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | $99 | $97 | $14 |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | 4 | 9 |
Investments in companies, net of cash acquired | -1 | ' | -1 |
Change in restricted cash | ' | ' | 5 |
Additions to property, plant, and equipment | -31 | -27 | -55 |
Other investing activities | ' | ' | 3 |
Net cash provided by (used in) investing activities | -32 | -23 | -39 |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | -4 | -6 |
Proceeds from other debt | ' | ' | 20 |
Payments of other debt | ' | -2 | -10 |
Repayment on Secured Notes | -195 | -23 | ' |
Capital contribution | ' | ' | 2 |
Repayment on Subordinated Notes | -367 | ' | ' |
Net payments of ABL Revolver | ' | -110 | 20 |
Dividend to Shareholder | -352 | ' | ' |
Cash related to the deconsolidation of BPI | ' | -11 | ' |
Repayment on Term Loans | -3 | ' | ' |
Proceeds from BPI's new credit facility | ' | 76 | ' |
Payment of deferred financing costs | -15 | -1 | ' |
Purchase of noncontrolling interest | ' | -3 | ' |
Proceeds from Term Loans | 667 | ' | ' |
Proceeds from Senior Notes | 250 | ' | ' |
Net cash provided by (used in) financing activities | -15 | -78 | 26 |
Effect of exchange rates on cash | -2 | 1 | -2 |
Change in cash and cash equivalents | 50 | -3 | -1 |
Cash and cash equivalents at beginning of period | 51 | 54 | 55 |
Cash and cash equivalents at end of period | 101 | 51 | 54 |
Parent [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | 352 | ' | ' |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | ' | ' |
Additions to property, plant, and equipment | ' | ' | ' |
Net cash provided by (used in) investing activities | ' | ' | ' |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | ' | ' |
Payments of other debt | ' | ' | ' |
Repayment on Secured Notes | ' | ' | ' |
Net payments of ABL Revolver | ' | ' | ' |
Dividend to Shareholder | -352 | ' | ' |
Cash related to the deconsolidation of BPI | ' | ' | ' |
Proceeds from BPI's new credit facility | ' | ' | ' |
Payment of deferred financing costs | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' |
Effect of exchange rates on cash | ' | ' | ' |
Change in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents at beginning of period | 0 | ' | ' |
Cash and cash equivalents at end of period | ' | 0 | ' |
Issuer [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | 61 | 151 | -20 |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | ' | ' |
Additions to property, plant, and equipment | -1 | ' | ' |
Net cash provided by (used in) investing activities | -1 | ' | ' |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | ' | ' |
Payments of other debt | ' | ' | ' |
Repayment on Secured Notes | -195 | -23 | ' |
Repayment on Subordinated Notes | -367 | ' | ' |
Net payments of ABL Revolver | ' | -110 | 20 |
Dividend to Shareholder | -352 | ' | ' |
Cash related to the deconsolidation of BPI | ' | ' | ' |
Repayment on Term Loans | -3 | ' | ' |
Proceeds from BPI's new credit facility | ' | ' | ' |
Payment of deferred financing costs | -15 | -1 | ' |
Purchase of noncontrolling interest | ' | -3 | ' |
Proceeds from Term Loans | 667 | ' | ' |
Proceeds from Senior Notes | 250 | ' | ' |
Net cash provided by (used in) financing activities | -15 | -137 | 20 |
Effect of exchange rates on cash | ' | ' | ' |
Change in cash and cash equivalents | 45 | 14 | ' |
Cash and cash equivalents at beginning of period | 23 | 9 | 9 |
Cash and cash equivalents at end of period | 68 | 23 | 9 |
Guarantor [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | 17 | -58 | 11 |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | 1 | ' |
Investments in companies, net of cash acquired | ' | ' | -1 |
Additions to property, plant, and equipment | -17 | -8 | -16 |
Other investing activities | ' | ' | 3 |
Net cash provided by (used in) investing activities | -17 | -7 | -14 |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | ' | ' |
Payments of other debt | ' | ' | ' |
Repayment on Secured Notes | ' | ' | ' |
Net payments of ABL Revolver | ' | ' | ' |
Cash related to the deconsolidation of BPI | ' | -11 | ' |
Proceeds from BPI's new credit facility | ' | 76 | ' |
Payment of deferred financing costs | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | 65 | ' |
Effect of exchange rates on cash | ' | ' | ' |
Change in cash and cash equivalents | ' | ' | -3 |
Cash and cash equivalents at beginning of period | 0 | ' | 3 |
Cash and cash equivalents at end of period | ' | 0 | ' |
Non-Guarantor [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | 21 | 4 | 23 |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | 3 | 9 |
Investments in companies, net of cash acquired | -1 | ' | ' |
Change in restricted cash | ' | ' | 5 |
Additions to property, plant, and equipment | -13 | -19 | -39 |
Net cash provided by (used in) investing activities | -14 | -16 | -25 |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | -4 | -6 |
Proceeds from other debt | ' | ' | 20 |
Payments of other debt | ' | -2 | -10 |
Repayment on Secured Notes | ' | ' | ' |
Capital contribution | ' | ' | 2 |
Net payments of ABL Revolver | ' | ' | ' |
Cash related to the deconsolidation of BPI | ' | ' | ' |
Proceeds from BPI's new credit facility | ' | ' | ' |
Payment of deferred financing costs | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | -6 | 6 |
Effect of exchange rates on cash | -2 | 1 | -2 |
Change in cash and cash equivalents | 5 | -17 | 2 |
Cash and cash equivalents at beginning of period | 28 | 45 | 43 |
Cash and cash equivalents at end of period | 33 | 28 | 45 |
Eliminations [Member] | ' | ' | ' |
Operating activities | ' | ' | ' |
Net cash (used in) provided by operating activities | -352 | ' | ' |
Investing activities | ' | ' | ' |
Proceeds from sales of assets | ' | ' | ' |
Additions to property, plant, and equipment | ' | ' | ' |
Net cash provided by (used in) investing activities | ' | ' | ' |
Financing activities | ' | ' | ' |
Net decrease in other short-term debt | ' | ' | ' |
Payments of other debt | ' | ' | ' |
Repayment on Secured Notes | ' | ' | ' |
Net payments of ABL Revolver | ' | ' | ' |
Dividend to Shareholder | 352 | ' | ' |
Cash related to the deconsolidation of BPI | ' | ' | ' |
Proceeds from BPI's new credit facility | ' | ' | ' |
Payment of deferred financing costs | ' | ' | ' |
Purchase of noncontrolling interest | ' | ' | ' |
Net cash provided by (used in) financing activities | ' | ' | ' |
Effect of exchange rates on cash | ' | ' | ' |
Change in cash and cash equivalents | ' | ' | ' |
Cash and cash equivalents at beginning of period | 0 | ' | ' |
Cash and cash equivalents at end of period | ' | $0 | ' |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts (Detail) (Allowance for doubtful accounts [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for doubtful accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at beginning of period | $3 | $1 | $2 |
Amounts charged to income | 2 | 2 | 1 |
Trade accounts receivable "written off" net of recoveries | -2 | -1 | ' |
Adjustments arising from change in currency exchange rates and other items | -1 | 1 | -2 |
Balance at end of period | $2 | $3 | $1 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Parenthetical) (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' |
Allowance for doubtful accounts | $2 | $3 |
Chassis group [Member] | Maximum [Member] | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' |
Allowance for doubtful accounts | $1 | ' |