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Onex Reports Second-Quarter 2013 Consolidated Results

Aug 12 2013 12:00AM

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TORONTO, ONTARIO -- (Marketwired) -- 08/12/13 -- All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX: OCX) today announced its consolidated financial results for the second quarter and six months ended June 30, 2013.

Onex' quarterly and full-year consolidated financial results do not follow any specific trends due to acquisitions and dispositions of businesses, changes in the values of its publicly traded and privately held operating companies and varying business cycles at its operating companies.

On a consolidated basis for the second quarter, revenues increased 10% to $7.7 billion compared to the same period of the prior year. The acquisitions completed in the last six months of 2012 contributed to this year-over-year revenue increase. Onex reported a consolidated net loss of $718 million compared to a net loss of $172 million in the second quarter of 2012. The primary driver of this change is an increase in the Limited Partners' Interest charge of approximately $650 million due to an overall increase in value of our operating companies.

On a consolidated basis for the six months ended June 30, 2013, revenues increased 8% to $14.9 billion consistent with the change in the quarter. The net loss for the period was $989 million compared to a net gain of $1 million for the six months ended June 30, 2012, which was impacted by the increase in the Limited Partners' Interest charge mentioned above.

Attached are the Unaudited Interim Consolidated Balance Sheets, Statements of Earnings, Statements of Cash Flows and information by industry segment for the quarter and six months ended June 30, 2013 and 2012 as prepared under International Financial Reporting Standards. The complete financial statements, including Management's Discussion and Analysis of the results, are posted on Onex' website, www.onex.com, and are also available on SEDAR at www.sedar.com.

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Onex acquires and builds high-quality businesses in partnership with talented management teams. The Company has approximately $16 billion of assets under management, including $5 billion of Onex capital, in private equity, credit securities and real estate. Onex invests its capital directly and as a substantial limited partner in its Funds.

Onex' businesses have assets of $45 billion, generate annual revenues of $36 billion and employ approximately 236,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

Onex Corporation CONSOLIDATED BALANCE SHEETS(Unaudited) As at As at As at June 30, December 31, January 1,(in millions of U.S. dollars) 2013 2012 2012----------------------------------------------------------------------------AssetsCurrent assetsCash and cash equivalents $ 2,707 $ 2,656 $ 2,448Short-term investments 761 730 749Accounts receivable 4,022 3,858 3,272Inventories 4,393 4,519 4,428Other current assets 1,349 1,443 1,154---------------------------------------------------------------------------- 13,232 13,206 12,051Property, plant and equipment 5,423 5,495 5,102Long-term investments 7,046 6,424 5,415Other non-current assets 2,052 1,986 1,776Intangible assets 5,071 4,833 2,599Goodwill 4,900 4,358 2,434---------------------------------------------------------------------------- $ 37,724 $ 36,302 $ 29,377--------------------------------------------------------------------------------------------------------------------------------------------------------Liabilities and EquityCurrent liabilitiesAccounts payable and accrued liabilities $ 4,539 $ 4,549 $ 3,893Current portion of provisions 315 347 263Other current liabilities 1,441 1,340 909Current portion of long-term debt of operating companies, withoutrecourse to Onex Corporation 2,015 286 482Current portion of warranty reserves and unearned premiums 1,333 1,366 1,400---------------------------------------------------------------------------- 9,643 7,888 6,947Non-current portion of provisions 266 264 180Long-term debt of operating companies, without recourse to Onex Corporation 10,234 10,184 6,479Non-current portion of warranty reserves and unearned premiums 1,741 1,774 1,727Other non-current liabilities 2,938 2,852 2,368Deferred income taxes 1,863 1,683 1,059Limited Partners' Interests 6,826 6,208 4,980---------------------------------------------------------------------------- 33,511 30,853 23,740----------------------------------------------------------------------------EquityShare capital 353 358 360Non-controlling interests 3,648 3,822 3,863Retained earnings and accumulated other comprehensive earnings 212 1,269 1,414---------------------------------------------------------------------------- 4,213 5,449 5,637-------------------------------------------------------------------------------------------------------------------------------------------------------- $ 37,724 $ 36,302 $ 29,377-------------------------------------------------------------------------------------------------------------------------------------------------------- Onex Corporation CONSOLIDATED STATEMENTS OF EARNINGS Three months ended Six months ended(Unaudited) June 30 June 30(in millions of U.S. dollars except per share data) 2013 2012 2013 2012----------------------------------------------------------------------------Revenues $ 7,699 $ 7,002 $ 14,911 $ 13,819Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (6,233) (5,546) (11,844) (10,954)Operating expenses (1,024) (843) (2,071) (1,672)Interest income 23 10 48 20Amortization of property, plant and equipment (186) (154) (350) (294)Amortization of intangible assets and deferred charges (136) (79) (277) (162)Interest expense of operating companies (200) (158) (383) (295)Increase (decrease) in value of investments in joint ventures and associates at fair value, net 14 (358) 290 250Stock-based compensation expense (34) (46) (156) (134)Other gains 170 - 170 -Other items (184) (76) (283) (121)Impairment of intangible assets and long-lived assets (114) (14) (123) (16)Limited Partners' Interests recovery (charge) (472) 180 (846) (306)----------------------------------------------------------------------------Earnings (loss) before income taxes (677) (82) (914) 135Provision for income taxes (41) (90) (75) (134)----------------------------------------------------------------------------Net Earnings (Loss) for the Period $ (718) $ (172) $ (989) $ 1--------------------------------------------------------------------------------------------------------------------------------------------------------Net Earnings (Loss) attributable to:Equity holders of Onex Corporation $ (612) $ (201) $ (920) $ (143)Non-controlling Interests (106) 29 (69) 144----------------------------------------------------------------------------Net Earnings (Loss) for the Period $ (718) $ (172) $ (989) $ 1--------------------------------------------------------------------------------------------------------------------------------------------------------Net Loss per Subordinate Voting Share of Onex CorporationBasic and Diluted:Net Loss for the Period $ (5.38) $ (1.75) $ (8.08) $ (1.25)-------------------------------------------------------------------------------------------------------------------------------------------------------- Onex Corporation CONSOLIDATED STATEMENTS OF CASH FLOWS Six months ended June 30(Unaudited) 2013 2012(in millions of U.S. dollars)----------------------------------------------------------------------------Operating ActivitiesEarnings (loss) for the period $ (989) $ 1Adjustments to earnings (loss): Provision for income taxes 75 134 Interest income (48) (20) Interest expense of operating companies 383 295----------------------------------------------------------------------------Net earnings (loss) before interest and provision for income taxes (579) 410Cash taxes paid (183) (197)Items not affecting cash and cash equivalents: Amortization of property, plant and equipment 350 294 Amortization of intangible assets and deferred charges 277 162 Amortization of deferred warranty costs 7 20 Increase in value of investments in joint ventures and associates at fair value, net (290) (250) Stock-based compensation expense 89 113 Other gains (170) - Impairment of intangible assets and long- lived assets 123 16 Limited Partners' Interests charge 846 306 Change in provisions 66 99 Other 102 27---------------------------------------------------------------------------- 638 1,000Changes in non-cash working capital items: Accounts receivable (245) (177) Inventories 97 (254) Other current assets 74 35 Accounts payable, accrued liabilities and other current liabilities (61) 173----------------------------------------------------------------------------Decrease in cash and cash equivalents due to changes in working capital items (135) (223)Decrease in other operating activities (40) (60)Change in warranty reserves and premiums 26 30---------------------------------------------------------------------------- 489 747----------------------------------------------------------------------------Financing ActivitiesIssuance of long-term debt 3,292 2,009Repayment of long-term debt (2,075) (1,726)Cash interest paid (319) (240)Cash dividends paid (6) (6)Repurchase of share capital of Onex Corporation (50) (5)Repurchase of share capital of operating companies (66) (123)Financing provided by Limited Partners 341 125Issuance of share capital by operating companies 35 18Distributions paid to non-controlling interests and Limited Partners (591) (330)Change in restricted cash for distribution to Limited Partners 28 (32)Decrease due to other financing activities (42) (33)---------------------------------------------------------------------------- 547 (343)----------------------------------------------------------------------------Investing ActivitiesAcquisitions, net of cash and cash equivalents in acquired companies of $12 (2012 - nil) (382) (49)Purchase of property, plant and equipment (456) (326)Proceeds from sale of investments in associates at fair value 323 326Proceeds from sale of operating investment no longer controlled 217 -Cash interest and dividends received 29 6Net purchases of investments and securities (756) (412)Increase due to other investing activities 64 19---------------------------------------------------------------------------- (961) (436)----------------------------------------------------------------------------Increase (Decrease) in Cash and Cash Equivalents for the Period 75 (32)Decrease in cash due to changes in foreign exchange rates (24) (2)Cash and cash equivalents, beginning of the period 2,656 2,448----------------------------------------------------------------------------Cash and Cash Equivalents, End of the Period $ 2,707 $ 2,414---------------------------------------------------------------------------- Onex Corporation INFORMATION BY INDUSTRY SEGMENT FOR THE THREE MONTHS ENDED JUNE 30, 2013(Unaudited)(in millions of U.S. dollars) ElectronicsThree months ended Manufacturing Insurance June 30, 2013 Services Aerostructures Healthcare Provider----------------------------------------------------------------------------Revenues $1,496 $1,521 $1,222 $298Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (1,381) (1,557) (855) (152)Operating expenses (57) (54) (207) (93)Interest income - - - -Amortization of property, plant and equipment (16) (54) (31) (1)Amortization of intangible assets and deferred charges (3) (7) (36) (3)Interest expense of operating companies (1) (18) (60) (2)Increase in value of investments in joint ventures and associates at fair value, net - - - -Stock-based compensation recovery (expense) (6) (9) (2) (2)Other gains - - - -Other items 1 (5) (97) 3Impairment of intangible assets and long-lived assets (1) - - -Limited Partners' Interests charge - - - -----------------------------------------------------------------------------Earnings (loss) before income taxes 32 (183) (66) 48Recovery of (provision for) income taxes (3) 52 (12) (17)----------------------------------------------------------------------------Net earnings (loss) for the period $29 $(131) $(78) $31--------------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $3 $(19) $(77) $28Non-controlling interests 26 (112) (1) 3----------------------------------------------------------------------------Net earnings (loss) for the period $29 $(131) $(78) $31--------------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars) CustomerThree months ended Care Metal Building Consolidated June 30, 2013 Services Services Products Other(a) Total-------------------------------------------------------------------------Revenues $349 $631 $907 $1,275 $7,699Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (231) (579) (745) (733) (6,233)Operating expenses (95) (16) (114) (388) (1,024)Interest income - - - 23 23Amortization of property, plant and equipment (8) (16) (28) (32) (186)Amortization of intangible assets and deferred charges (5) (3) (5) (74) (136)Interest expense of operating companies (22) (6) (18) (73) (200)Increase in value of investments in joint ventures and associates at fair value, net - - - 14 14Stock-based compensation recovery (expense) - - 1 (16) (34)Other gains - - - 170 170Other items (1) - (9) (76) (184)Impairment of intangible assets and long-lived assets - - (2) (111) (114)Limited Partners' Interests charge - - - (472) (472)-------------------------------------------------------------------------Earnings (loss) before income taxes (13) 11 (13) (493) (677)Recovery of (provision for) income taxes (3) (4) (4) (50) (41)-------------------------------------------------------------------------Net earnings (loss) for the period $(16) $7 $(17) $(543) $(718)--------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $(11) $3 $(15) $(524) $(612)Non-controlling interests (5) 4 (2) (19) (106)-------------------------------------------------------------------------Net earnings (loss) for the period $(16) $7 $(17) $(543) $(718)--------------------------------------------------------------------------------------------------------------------------------------------------(a) Includes Tropicana Las Vegas, SGS International, USI, KraussMaffei, Emerald Expositions (acquired in June 2013), ONCAP II (BSN SPORTS up to June 2013), ONCAP III, Flushing Town Center, Meridian Aviation, OCP CLO-1, OCP CLO-2, OCP CLO-3, OCP CLO-4 and the parent company. Investments in joint ventures and associates recorded at fair value include Allison Transmission, BBAM, Tomkins, Cypress and certain Onex Real Estate investments. Onex Corporation INFORMATION BY INDUSTRY SEGMENT FOR THE THREE MONTHS ENDED JUNE 30, 2012(Unaudited)(in millions of U.S. dollars) ElectronicsThree months ended Manufacturing Insurance June 30, 2012 Services Aerostructures Healthcare Provider----------------------------------------------------------------------------Revenues $1,745 $1,338 $1,249 $311Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (1,608) (1,104) (859) (160)Operating expenses (60) (52) (236) (99)Interest income 1 - 1 -Amortization of property, plant and equipment (18) (39) (33) (1)Amortization of intangible assets and deferred charges (2) (7) (40) (4)Interest expense of operating companies (2) (28) (57) (1)Decrease in value of investments in joint ventures and associates at fair value, net - - - -Stock-based compensation expense (7) (2) (2) -Other items (17) (63) (6) 2Impairment of intangible assets and long-lived assets - - (14) -Limited Partners' Interests recovery - - - -----------------------------------------------------------------------------Earnings (loss) before income taxes $32 $43 $3 $48Provision for income taxes (8) (13) (9) (18)----------------------------------------------------------------------------Net earnings (loss) for the period $24 $30 $(6) $30--------------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $2 $5 $(2) $27Non-controlling interests 22 25 (4) 3----------------------------------------------------------------------------Net earnings (loss) for the period $24 $30 $(6) $30--------------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars) CustomerThree months ended Care Metal Building Consolidated June 30, 2012 Services Services Products Other(a) Total-------------------------------------------------------------------------Revenues $347 $669 $807 $536 $7,002Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (225) (616) (649) (325) (5,546)Operating expenses (91) (15) (113) (177) (843)Interest income - - - 8 10Amortization of property, plant and equipment (7) (14) (25) (17) (154)Amortization of intangible assets and deferred charges (6) (3) (4) (13) (79)Interest expense of operating companies (34) (5) (15) (16) (158)Decrease in value of investments in joint ventures and associates at fair value, net - - - (358) (358)Stock-based compensation expense - (1) (14) (20) (46)Other items (8) 1 (4) 19 (76)Impairment of intangible assets and long-lived assets - - - - (14)Limited Partners' Interests recovery - - - 180 180-------------------------------------------------------------------------Earnings (loss) before income taxes $(24) $16 $(17) $(183) $(82)Provision for income taxes (4) (6) (4) (28) (90)-------------------------------------------------------------------------Net earnings (loss) for the period $(28) $10 $(21) $(211) $(172)--------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $(15) $6 $(14) $(210) $(201)Non-controlling interests (13) 4 (7) (1) 29-------------------------------------------------------------------------Net earnings (loss) for the period $(28) $10 $(21) $(211) $(172)--------------------------------------------------------------------------------------------------------------------------------------------------



(a) Includes Tropicana Las Vegas, ONCAP II, ONCAP III, Flushing Town Center, OCP CLO-1 and the parent company. Investments in joint ventures and associates recorded at fair value include Allison Transmission, Hawker Beechcraft, RSI (sold in February 2013), Tomkins, Cypress and certain Onex Real Estate investments. Onex Corporation INFORMATION BY INDUSTRY SEGMENT FOR THE SIX MONTHS ENDED JUNE 30, 2013(Unaudited)(in millions of U.S. dollars) ElectronicsSix months ended Manufacturing Insurance June 30, 2013 Services Aerostructures Healthcare Provider----------------------------------------------------------------------------Revenues $2,868 $2,963 $2,377 $595Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (2,649) (2,796) (1,672) (304)Operating expenses (109) (110) (420) (189)Interest income - - 1 -Amortization of property, plant and equipment (31) (88) (62) (2)Amortization of intangible assets and deferred charges (6) (15) (75) (6)Interest expense of operating companies (2) (35) (103) (3)Increase in value of investments in joint ventures and associates at fair value, net - - - -Stock-based compensation expense (16) (13) (4) (3)Other gains - - - -Other items (7) (24) (130) 7Impairment of intangible assets and long-lived assets (1) - - (1)Limited Partners' Interests charge - - - -----------------------------------------------------------------------------Earnings (loss) before income taxes $47 $(118) $(88) $94Recovery of (provision for) income taxes (8) 35 (14) (34)----------------------------------------------------------------------------Net earnings (loss) for the period $39 $(83) $(102) $60--------------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $4 $(13) $(101) $54Non-controlling interests 35 (70) (1) 6----------------------------------------------------------------------------Net earnings (loss) for the period $39 $(83) $(102) $60--------------------------------------------------------------------------------------------------------------------------------------------------------Total assets $2,706 $5,385 $3,888 $4,806----------------------------------------------------------------------------Long-term debt(b) $- $1,134 $3,083 $257--------------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars) CustomerSix months ended Care Metal Building Consolidated June 30, 2013 Services Services Products Other(a) Total-------------------------------------------------------------------------Revenues $714 $1,221 $1,677 $2,496 $14,911Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (467) (1,114) (1,394) (1,448) (11,844)Operating expenses (187) (30) (234) (792) (2,071)Interest income - - 1 46 48Amortization of property, plant and equipment (15) (32) (54) (66) (350)Amortization of intangible assets and deferred charges (10) (6) (9) (150) (277)Interest expense of operating companies (47) (13) (37) (143) (383)Increase in value of investments in joint ventures and associates at fair value, net - - - 290 290Stock-based compensation expense - (1) (6) (113) (156)Other gains - - - 170 170Other items (11) - 10 (128) (283)Impairment of intangible assets and long-lived assets - - (2) (119) (123)Limited Partners' Interests charge - - - (846) (846)-------------------------------------------------------------------------Earnings (loss) before income taxes $(23) $25 $(48) $(803) $(914)Recovery of (provision for) income taxes (5) (9) (2) (38) (75)-------------------------------------------------------------------------Net earnings (loss) for the period $(28) $16 $(50) $(841) $(989)--------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $(20) $8 $(39) $(813) $(920)Non-controlling interests (8) 8 (11) (28) (69)-------------------------------------------------------------------------Net earnings (loss) for the period $(28) $16 $(50) $(841) $(989)--------------------------------------------------------------------------------------------------------------------------------------------------Total assets $588 $994 $2,617 $16,740 $37,724-------------------------------------------------------------------------Long-term debt(b) $716 $302 $729 $6,028 $12,249--------------------------------------------------------------------------------------------------------------------------------------------------(a) Includes Tropicana Las Vegas, SGS International, USI, KraussMaffei, Emerald Expositions (acquired in June 2013), ONCAP II (BSN SPORTS up to June 2013), ONCAP III, Flushing Town Center, Meridian Aviation, OCP CLO-1, OCP CLO-2, OCP CLO-3, OCP CLO-4 and the parent company. Investments in joint ventures and associates recorded at fair value include Allison Transmission, BBAM, RSI (sold in February 2013), Tomkins, Cypress and certain Onex Real Estate investments.(b) Long-term debt includes current portion, excludes finance leases and is net of financing charges. Onex Corporation INFORMATION BY INDUSTRY SEGMENT FOR THE SIX MONTHS ENDED JUNE 30, 2012(Unaudited)(in millions of U.S. dollars) ElectronicsSix months ended Manufacturing Insurance June 30, 2012 Services Aerostructures Healthcare Provider----------------------------------------------------------------------------Revenues $3,436 $2,604 $2,458 $604Cost of sales excluding amortization of property, plant and equipment, intangible assets and deferred charges) (3,167) (2,115) (1,700) (308)Operating expenses (115) (106) (471) (202)Interest income 1 - 2 -Amortization of property, plant and equipment (35) (67) (65) (2)Amortization of intangible assets and deferred charges (5) (14) (82) (8)Interest expense of operating companies (3) (46) (105) (2)Increase in value of investments in joint ventures and associates at fair value, net - - - -Stock-based compensation expense (17) (7) (5) -Other items (16) (60) (9) 8Impairment of intangible assets and long-lived assets - - (14) -Limited Partners' Interests charge - - - -----------------------------------------------------------------------------Earnings (loss) before income taxes $79 $189 $9 $90Provision for income taxes (12) (59) - (34)----------------------------------------------------------------------------Net earnings (loss) for the period $67 $130 $9 $56--------------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $6 $21 $7 $51Non-controlling interests 61 109 2 5----------------------------------------------------------------------------Net earnings (loss) for the period $67 $130 $9 $56--------------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars)As at December 31, 2012----------------------------------------------------------------------------Total assets $2,659 $5,371 $3,971 $4,903----------------------------------------------------------------------------Long-term debt(b) $55 $1,133 $2,540 $258--------------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars) CustomerSix months ended Care Metal Building Consolidated June 30, 2012 Services Services Products Other(a) Total-------------------------------------------------------------------------Revenues $711 $1,416 $1,538 $1,052 $13,819Cost of sales excluding amortization of property, plant and equipment, intangible assets and deferred charges) (458) (1,309) (1,258) (639) (10,954)Operating expenses (184) (32) (227) (335) (1,672)Interest income - - 1 16 20Amortization of property, plant and equipment (13) (27) (51) (34) (294)Amortization of intangible assets and deferred charges (13) (6) (8) (26) (162)Interest expense of operating companies (56) (26) (30) (27) (295)Increase in value of investments in joint ventures and associates at fair value, net - - - 250 250Stock-based compensation expense - (1) (14) (90) (134)Other items (9) 1 (28) (8) (121)Impairment of intangible assets and long-lived assets (1) - (1) - (16)Limited Partners' Interests charge - - - (306) (306)-------------------------------------------------------------------------Earnings (loss) before income taxes $(23) $16 $(78) $(147) $135Provision for income taxes (7) (6) (2) (14) (134)-------------------------------------------------------------------------Net earnings (loss) for the period $(30) $10 $(80) $(161) $1--------------------------------------------------------------------------------------------------------------------------------------------------Net earnings (loss) attributable to:Equity holders of Onex Corporation $(16) $6 $(55) $(163) $(143)Non-controlling interests (14) 4 (25) 2 144-------------------------------------------------------------------------Net earnings (loss) for the period $(30) $10 $(80) $(161) $1--------------------------------------------------------------------------------------------------------------------------------------------------(Unaudited)(in millions of U.S. dollars)As at December 31, 2012-------------------------------------------------------------------------Total assets $632 $989 $2,626 $15,151 $36,302-------------------------------------------------------------------------Long-term debt(b) $725 $306 $547 $4,906 $10,470--------------------------------------------------------------------------------------------------------------------------------------------------(a) Includes Tropicana Las Vegas, ONCAP II, ONCAP III, Flushing Town Center, OCP CLO-1 and the parent company. Investments in joint ventures and associates recorded at fair value include Allison Transmission, Hawker Beechcraft, RSI (sold in February 2013), Tomkins, Cypress and certain Onex Real Estate investments.(b) Long-term debt includes current portion, excludes finance leases and is net of financing charges.





Contacts:
Onex Corporation
Emma Thompson
Vice President, Investor Relations
416.362.7711
www.onex.com





Source: Marketwire


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