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Onex Corporation CONSOLIDATED STATEMENTS OF EARNINGS(Unaudited) Three months ended March 31(in millions of U.S. dollars except pershare data) 2013 2012----------------------------------------------------------------------------Revenues $ 7,212 $ 6,817Cost of sales (excluding amortization of property, plant and equipment, intangible assets and deferred charges) (5,611) (5,408)Operating expenses (1,047) (829)Interest income 25 10Amortization of property, plant and equipment (164) (140)Amortization of intangible assets and deferred charges (141) (83)Interest expense of operating companies (183) (137)Increase in value of investments in joint ventures and associates at fair value, net 276 608Stock-based compensation expense (122) (88)Other items (108) (47)Limited Partners' Interests charge (374) (486)--------------------------------------------------------------------------------------------------------------------------------------------------------Earnings (loss) before income taxes (237) 217Provision for income taxes (34) (44)----------------------------------------------------------------------------Net Earnings (Loss) for the Period $ (271) $ 173--------------------------------------------------------------------------------------------------------------------------------------------------------Net Earnings (Loss) attributable to:Equity holders of Onex Corporation $ (308) $ 58Non-controlling Interests 37 115----------------------------------------------------------------------------Net Earnings (Loss) for the Period $ (271) $ 173--------------------------------------------------------------------------------------------------------------------------------------------------------Net Earnings (Loss) per Subordinate Voting Share of Onex CorporationBasic and Diluted:Net Earnings (Loss) for the Period $ (2.71) $ 0.51-------------------------------------------------------------------------------------------------------------------------------------------------------- Onex Corporation CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Three months ended March 31(in millions of U.S. dollars) 2013 2012----------------------------------------------------------------------------Operating ActivitiesEarnings (loss) for the period $ (271) $ 173Adjustments to earnings (loss): Provision for income taxes 34 44 Interest income (25) (10) Interest expense of operating companies 183 137----------------------------------------------------------------------------Net earnings (loss) before interest and provision for income taxes (79) 344Cash taxes paid (51) (48)Items not affecting cash and cash equivalents: Amortization of property, plant and equipment 164 140 Amortization of intangible assets and deferred charges 141 83 Amortization of deferred warranty costs 4 11 Increase in value of investments in associates at fair value, net (276) (608) Stock-based compensation expense 68 75 Limited Partners' Interests charge 374 486 Change in provisions 42 54 Other 62 20---------------------------------------------------------------------------- 449 557Changes in non-cash working capital items: Accounts receivable (157) (163) Inventories (184) (254) Other current assets 60 52 Accounts payable, accrued liabilities and other current liabilities (226) 49----------------------------------------------------------------------------Decrease in cash and cash equivalents due to changes in working capital items (507) (316)Decrease in other operating activities (12) (10)Increase in warranty reserves and premiums 2 32---------------------------------------------------------------------------- (68) 263----------------------------------------------------------------------------Financing ActivitiesIssuance of long-term debt 696 659Repayment of long-term debt (187) (458)Cash interest paid (116) (97)Cash dividends paid (3) (3)Repurchase of share capital of Onex Corporation (23) (1)Repurchase of share capital of operating companies - (60)Financing provided by Limited Partners 66 92Issuance of share capital by operating companies 34 5Distributions paid to non-controlling interests and Limited Partners (215) (231)Change in restricted cash for distribution to Limited Partners 35 (6)Decrease due to other financing activities (10) (19)---------------------------------------------------------------------------- 277 (119)----------------------------------------------------------------------------Investing ActivitiesAcquisitions, net of cash and cash equivalents in acquired companies of nil (2012 - nil) (4) (20)Purchase of property, plant and equipment (195) (166)Proceeds from sale of investments in associates at fair value 323 326Cash interest and dividends received 11 1Net purchases of investments and securities (228) (357)Increase due to other investing activities 61 4---------------------------------------------------------------------------- (32) (212)----------------------------------------------------------------------------Increase (Decrease) in Cash and Cash Equivalents for the Period 177 (68)Increase (decrease) in cash due to changes in foreign exchange rates (11) 4Cash and cash equivalents, beginning of the period 2,656 2,448----------------------------------------------------------------------------Cash and Cash Equivalents, End of the Period $ 2,822 $ 2,384-------------------------------------------------------------------------------------------------------------------------------------------------------- Onex Corporation INFORMATION BY INDUSTRY SEGMENT FOR THE THREE MONTHS ENDED MARCH 31, 2013
