3 P AR T I. ITEM 1. BUSINESS General Cable Corporation ("the Company") is a global leader in the development, design, manufacture, marketing and distribution of copper , aluminum and fiber optic wire and cable products for use in the ener gy , industrial, construction, specialty and communications markets. The Company additionally engages in the design, integration, and installation on a turn-key basis for products such as high and extra-high voltage terrestrial and submarine systems. The Company strives to enhance shareholder value in multiple ways, including: • Utilizing the Company's assets, financial strength and flexibility , distribution system, global and product diversity , brands, and the talents and strong commitment of employees to build profitability through excellence in the Company's primary business, wire and cable manufacturing and distribution; • Managing the Company's product portfolio by pursuing market share in fast growing and value added product lines as well as strategic investments in attractive long term growth opportunities; • Focusing on continuous improvement and operating ef ficiency through the execution of Lean Six Sigma (“Lean”) strategies and technical expertise to maintain the Company's position as a low cost provider; • Expanding operations through or ganic growth and acquisitions with continued focus in emer ging economies; • Leveraging our diversity and intellectual property through the sharing of best practices across the global or ganization; and • Maintaining high operational standards through sustainability , safety , and innovation. By operating under these guiding principles, the Company has been able to build a strong market position in each of the segments in which it competes. The Company's key performance indicators are considered to be volume, as measured in metal pounds sold, operating income, net income, earnings per share, operating cash flows, returns on capital employed and invested capital and working capital ef ficiency . The Company is a Delaware corporation and was incorporated in 1994. The Company and its predecessors have served various wire and cable markets for over 150 years. The Company's immediate predecessor was a unit of American Premier Underwriters, Inc. (“American Premier”), previously known as The Penn Central Corporation. American Premier acquired the Company's existing wire and cable business in 1981. In 1994, a subsidiary of W assall PLC acquired the predecessor by purchase of General Cable's outstanding subordinated promissory note, the General Cable common stock held by American Premier and a tender of fer for the publicly-held General Cable common stock. In 1997, W assall consummated public of ferings for the sale of all of its interest in General Cable's common stock. The Company has operated as an independent public company since completion of the of ferings and its common stock is traded on the New Y ork Stock Exchange under the ticker symbol, BGC. For purposes of this report, unless the context otherwise requires, all references herein to the “Company ,” “General Cable,” “we,” “us,” and “our” shall refer to General Cable Corporation. Business Segments The Company's operating structure is the basis for our financial reporting. The Company's three segments include North America, Europe and Mediterranean, and Rest of W orld ("ROW"). Additional financial information regarding the segments appears in Note 17 - Segment Information. North America The North America segment engages in the development, design, manufacture, marketing and distribution of copper , aluminum and fiber optic wire and cable products for the ener gy , industrial, construction, specialty and communications markets principally for use in the electric utility , electrical infrastructure, construction, and communications industries, as well as manufacture and distribution of rod mill wire and cable products primarily in the United States and Canada. The North America segment contributed approximately 39% , 36% and 37% of the Company’ s consolidated revenues for 2012 , 201 1 and 2010 , respectively . The North America segment consists of 25 manufacturing facilities across the region. Additionally , the North America segment has regional centers of excellence and state-of-the-art laboratories for technical expertise and innovation in material technology and compounding, electrical testing, data cables, and specialty and military cables. Europe and Mediterranean The Europe and Mediterranean segment engages in the development, design, manufacture, marketing and distribution of copper , aluminum and fiber optic wire and cable products for the ener gy , industrial, construction, specialty and communications markets principally for use in the electric utility , electrical infrastructure, construction, and communications industries with operations in Algeria, Angola, Egypt, France, Germany , Norway , Portugal and Spain, and selling into markets throughout Europe, the Mediterranean and Africa. Additionally , the Europe and Mediterranean segment engages in the design, integration, and installation T able of Contents