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These excerpts taken from the HXL 10-K filed Feb 12, 2009. Utility Price RisksWe have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of our energy usage for periods of up to one year. Although these
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contracts would reduce the risk to us during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations.
Utility Price RisksWe have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of our energy usage for periods of up to one year. Although these
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contracts would reduce the risk to us during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations.
Utility Price RisksWe have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of our energy usage for periods of up to one year. Although these
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contracts would reduce the risk to us during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations.
Utility Price RisksWe have exposure to utility price risks as a result of
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contracts would reduce the risk to us during the contract period,
These excerpts taken from the HXL 10-K filed Feb 22, 2008. Utility Price RisksWe have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of our energy
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usage for periods of up to one year. Although these contracts would reduce the risk to us during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations. Utility Price RisksWe have exposure to utility price risks as a result of
41
usage for periods of up to one year. This excerpt taken from the HXL 10-Q filed May 7, 2007. Utility Price Risks We have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of the energy usage for periods up to one year. Although these contracts would reduce our risk during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations. For further information regarding market risks, refer to our 2006 Annual Report on Form 10-K. 29 This excerpt taken from the HXL 10-K filed Mar 1, 2007. Utility Price RisksWe have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of our energy usage for periods of up to one year. Although these contracts would reduce the risk to us during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations. Other Risks As of December 31, 2006, the aggregate fair value of our senior subordinated notes, due 2015, was $221.6 million. The fair value was estimated on the basis of quoted market prices, although trading in this debt security is limited and may not reflect fair value. The fair value is subject to fluctuations based on our performance, our credit rating, and changes in interest rates for debt securities with similar terms. This excerpt taken from the HXL 10-Q filed Nov 8, 2006. Utility Price Risks We have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of the energy usage for periods up to one year. Although these contracts would reduce our risk during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations. For further information regarding market risks, refer to our 2005 Annual Report on Form 10-K. 38
This excerpt taken from the HXL 10-Q filed Aug 8, 2006. Utility Price Risks
We have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of the energy usage for periods up to one year. Although these contracts would reduce our risk during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations.
For further information regarding market risks, refer to our 2005 Annual Report on Form 10-K.
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This excerpt taken from the HXL 10-Q filed May 8, 2006. Utility Price Risks We have exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time we enter into fixed price contracts at certain of our manufacturing locations for a portion of the energy usage for periods up to one year. Although these contracts would reduce our risk during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on our future consolidated results of operations. For further information regarding market risks, refer to our 2005 Annual Report on Form 10-K. 27
This excerpt taken from the HXL 10-K filed Mar 8, 2006. Utility Price Risks
The Company has exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, from time to time the Company enters into fixed price contracts at certain of its manufacturing locations for a portion of its energy usage for periods of up to one year. Although these contracts would reduce the risk to the Company during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on the future consolidated results of operations of the Company.
Other Risks
As of December 31, 2005, the aggregate fair value of the Company’s senior subordinated notes, due 2015, was $218.3 million. The fair value was estimated on the basis of quoted market prices, although trading in this debt security is limited and may not reflect fair value. The fair value is subject to fluctuations based on the Company’s performance, its credit rating, and changes in interest rates for debt securities with similar terms.
Although fair value may be a proxy for the cost to repay the Company’s indebtedness, the trust indentures for the Company’s senior subordinated notes, due 2015 require that the Company repay the principal value of the indebtedness at maturity. This excerpt taken from the HXL 10-K filed Feb 27, 2006. Utility Price RisksThe Company has exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, the Company enters into fixed price contracts at certain of its manufacturing locations for a portion of its energy usage for periods of up to three years. Although these contracts would reduce the risk to the Company during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on the consolidated results of operations of the Company.
Other Risks
As of December 31, 2004, the aggregate fair values of the Company’s senior secured notes, due 2008; senior subordinated notes, due 2009; and convertible subordinated debentures, due 2011, were approximately $139.7 million, $297.7 million and $18.3 million, respectively. The convertible subordinated debentures are convertible into Hexcel common stock at a price of $30.72 per share. Fair values were estimated on the basis of quoted market prices, although trading in these debt securities is limited and may not reflect fair value. The fair values are subject to fluctuations based on the Company’s performance, its credit rating, and changes in interest rates for debt securities with similar terms. Due to the conversion feature in the convertible subordinated debentures, changes in the value of the Company’s stock may affect the fair value of these convertible securities.
Assuming that all other factors remain constant, the fair values of Hexcel’s convertible subordinated debentures, due 2011, would not be significantly impacted by a 10% change, either favorable or unfavorable, in the
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market price of the Company’s common stock.
Although fair value may be a proxy for the cost to repay the Company’s indebtedness, the trust indentures for the Company’s senior secured notes, due 2008; senior subordinated notes, due 2009; and convertible subordinated debentures, due 2011 require that the Company repay the principal value of the indebtedness at maturity.
This excerpt taken from the HXL 10-Q filed Nov 7, 2005. Utility Price Risks
The cost of the Company’s energy purchases during the first nine months of 2005 were less than 3% of revenues. A significant portion of these purchases were made under variable price contracts; however, the Company does enter into fixed price contracts from time to time. With increasing energy prices, the Company’s energy costs increased in the third quarter, 2005 compared to the second quarter. The impact of these increases was not significant in the quarter.
For further information regarding the Company’s market risks, refer to the Company’s 2004 Annual Report on Form 10-K.
39 This excerpt taken from the HXL 10-Q filed Aug 9, 2005. Utility Price Risks
To minimize the exposure of volatility in utility prices, the Company has from time to time entered into fixed price contracts at certain of its manufacturing locations for a portion of its energy usage for periods of up to three years. Although these contracts would reduce the risk to the Company during the contract period, future volatility in the cost and supply of energy and natural gas could have an impact on the results of operations of the Company.
For further information regarding the Company’s market risks, refer to the Company’s 2004 Annual Report on Form 10-K.
41 This excerpt taken from the HXL 10-Q filed May 10, 2005. Utility Price Risks
To minimize the exposure of volatility in utility prices, the Company has from time to time entered into fixed price contracts at certain of its manufacturing locations for a portion of its energy usage for periods of up to three years. Although these contracts would reduce the risk to the Company during the contract period, future volatility in the cost and supply of energy and natural gas could have an impact on the results of operations of the Company.
For further information regarding the Company’s market risks, refer to the Company’s 2004 Annual Report on Form 10-K.
32 This excerpt taken from the HXL 10-K filed Mar 11, 2005. Utility Price RisksThe Company has exposure to utility price risks as a result of volatility in the cost and supply of energy and in natural gas. To minimize the risk, the Company enters into fixed price contracts at certain of its manufacturing locations for a portion of its energy usage for periods of up to three years. Although these contracts would reduce the risk to the Company during the contract period, future volatility in the supply and pricing of energy and natural gas could have an impact on the consolidated results of operations of the Company.
Other Risks
As of December 31, 2004, the aggregate fair values of the Company’s senior secured notes, due 2008; senior subordinated notes, due 2009; and convertible subordinated debentures, due 2011, were approximately $139.7 million, $297.7 million and $18.3 million, respectively. The convertible subordinated debentures are convertible into Hexcel common stock at a price of $30.72 per share. Fair values were estimated on the basis of quoted market prices, although trading in these debt securities is limited and may not reflect fair value. The fair values are subject to fluctuations based on the Company’s performance, its credit rating, and changes in interest rates for debt securities with similar terms. Due to the conversion feature in the convertible subordinated debentures, changes in the value of the Company’s stock may affect the fair value of these convertible securities.
Assuming that all other factors remain constant, the fair values of Hexcel’s convertible subordinated debentures, due 2011, would not be significantly impacted by a 10% change, either favorable or unfavorable, in the
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market price of the Company’s common stock.
Although fair value may be a proxy for the cost to repay the Company’s indebtedness, the trust indentures for the Company’s senior secured notes, due 2008; senior subordinated notes, due 2009; and convertible subordinated debentures, due 2011 require that the Company repay the principal value of the indebtedness at maturity.
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