v2.4.0.8

Supplemental Guarantor Information | 9 Months Ended
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Sep. 30, 2014
Supplemental Guarantor Information [Abstract] |
Supplemental Guarantor Information | Supplemental Guarantor Information The 2019 Senior Notes and the 2022 Senior Notes are, and, prior to being redeemed in full, the Senior Subordinated Notes and the Senior Secured Notes were guaranteed by Parent and each of CDW LLC’s direct and indirect, 100% owned, domestic subsidiaries (the “Guarantor Subsidiaries”). All guarantees by Parent and Guarantor Subsidiaries are and were joint and several, and full and unconditional; provided that guarantees by the Guarantor Subsidiaries (i) are subject to certain customary release provisions contained in the indentures governing the 2019 Senior Notes and the 2022 Senior Notes and (ii) were subject to certain customary release provisions contained in the indentures governing the Senior Subordinated Notes and the Senior Secured Notes until such indentures were satisfied and discharged in 2014. CDW LLC's Canada subsidiary (the “Non-Guarantor Subsidiary”) does not guarantee the debt obligations. CDW LLC and CDW Finance Corporation, as co-issuers, are 100% owned by Parent, and each of the Guarantor Subsidiaries and the Non-Guarantor Subsidiary is 100% owned by CDW LLC. On May 9, 2014, all of the remaining $42.5 million aggregate principal amount of Senior Subordinated Notes was redeemed in full and the indenture governing the Senior Subordinated Notes was satisfied and discharged. See Note 4 for more information. On August 5, 2014, CDW LLC and CDW Finance Corporation completed the issuance of $600.0 million aggregate principal amount of 2022 Senior Notes, which are guaranteed by Parent and the Guarantor Subsidiaries. The proceeds from this issuance, along with cash on hand, were used to redeem all of the remaining $325.0 million aggregate principal amount of the Senior Secured Notes and to redeem $234.7 million aggregate principal amount of the 2019 Senior Notes. The indenture governing the Senior Secured Notes was concurrently satisfied and discharged. See Note 4 for more information. The following tables set forth condensed consolidating balance sheets as of September 30, 2014 and December 31, 2013, consolidating statements of operations for the three and nine months ended September 30, 2014 and 2013, condensed consolidating statements of comprehensive income for the three and nine months ended September 30, 2014 and 2013, and condensed consolidating statements of cash flows for the nine months ended September 30, 2014 and 2013, in accordance with Rule 3-10 of Regulation S-X. The consolidating financial information includes the accounts of CDW Corporation (the “Parent Guarantor”), which has no independent assets or operations, the accounts of CDW LLC (the “Subsidiary Issuer”), the combined accounts of the Guarantor Subsidiaries, the accounts of the Non-Guarantor Subsidiary, and the accounts of CDW Finance Corporation (the “Co-Issuer”) for the periods indicated. The information was prepared on the same basis as the Company’s consolidated financial statements.
Condensed Consolidating Balance Sheet
September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 340.0 |  |  | $ | — |  |  | $ | 30.5 |  |  | $ | — |  |  | $ | (12.7 | ) |  | $ | 357.8 |
Accounts receivable, net | — |  |  | — |  |  | 1,410.1 |  |  | 63.1 |  |  | — |  |  | — |  |  | 1,473.2 |
Merchandise inventory | — |  |  | — |  |  | 419.7 |  |  | 3.8 |  |  | — |  |  | — |  |  | 423.5 |
Miscellaneous receivables | — |  |  | 58.8 |  |  | 110.8 |  |  | 5.8 |  |  | — |  |  | — |  |  | 175.4 |
Prepaid expenses and other | — |  |  | 16.5 |  |  | 67.5 |  |  | 3.3 |  |  | — |  |  | (1.0 | ) |  | 86.3 |
Total current assets | — |  |  | 415.3 |  |  | 2,008.1 |  |  | 106.5 |  |  | — |  |  | (13.7 | ) |  | 2,516.2 |
Property and equipment, net | — |  |  | 74.3 |  |  | 56.1 |  |  | 1.3 |  |  | — |  |  | — |  |  | 131.7 |
Goodwill | — |  |  | 751.9 |  |  | 1,439.0 |  |  | 27.7 |  |  | — |  |  | — |  |  | 2,218.6 |
Other intangible assets, net | — |  |  | 322.8 |  |  | 878.5 |  |  | 5.7 |  |  | — |  |  | — |  |  | 1,207.0 |
Deferred financing costs, net | — |  |  | 31.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31.8 |
Other assets | 4.4 |  |  | 2.1 |  |  | — |  |  | 1.4 |  |  | — |  |  | (5.8 | ) |  | 2.1 |
Investment in and advances to subsidiaries | 889.6 |  |  | 2,826.3 |  |  | — |  |  | — |  |  | — |  |  | (3,715.9 | ) |  | — |
Total assets | $ | 894.0 |  |  | $ | 4,424.5 |  |  | $ | 4,381.7 |  |  | $ | 142.6 |  |  | $ | — |  |  | $ | (3,735.4 | ) |  | $ | 6,107.4 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable—trade | $ | — |  |  | $ | 18.6 |  |  | $ | 748.5 |  |  | $ | 23.5 |  |  | $ | — |  |  | $ | (12.7 | ) |  | $ | 777.9 |
Accounts payable—inventory financing | — |  |  | — |  |  | 299.7 |  |  | — |  |  | — |  |  | — |  |  | 299.7 |
Current maturities of long-term debt | — |  |  | 15.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15.4 |
Deferred revenue | — |  |  | — |  |  | 99.2 |  |  | 3.1 |  |  | — |  |  | — |  |  | 102.3 |
Accrued expenses | — |  |  | 160.0 |  |  | 165.6 |  |  | 7.7 |  |  | — |  |  | (1.0 | ) |  | 332.3 |
Total current liabilities | — |  |  | 194.0 |  |  | 1,313.0 |  |  | 34.3 |  |  | — |  |  | (13.7 | ) |  | 1,527.6 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt | — |  |  | 3,146.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,146.3 |
Deferred income taxes | — |  |  | 153.9 |  |  | 344.4 |  |  | 1.5 |  |  | — |  |  | (4.4 | ) |  | 495.4 |
Other liabilities | — |  |  | 40.7 |  |  | 3.6 |  |  | 1.2 |  |  | — |  |  | (1.4 | ) |  | 44.1 |
Total long-term liabilities | — |  |  | 3,340.9 |  |  | 348.0 |  |  | 2.7 |  |  | — |  |  | (5.8 | ) |  | 3,685.8 |
Total shareholders’ equity | 894.0 |  |  | 889.6 |  |  | 2,720.7 |  |  | 105.6 |  |  | — |  |  | (3,715.9 | ) |  | 894.0 |
Total liabilities and shareholders’ equity | $ | 894.0 |  |  | $ | 4,424.5 |  |  | $ | 4,381.7 |  |  | $ | 142.6 |  |  | $ | — |  |  | $ | (3,735.4 | ) |  | $ | 6,107.4 |
Condensed Consolidating Balance Sheet
December 31, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 196.5 |  |  | $ | — |  |  | $ | 14.0 |  |  | $ | — |  |  | $ | (22.4 | ) |  | $ | 188.1 |
Accounts receivable, net | — |  |  | — |  |  | 1,375.9 |  |  | 75.1 |  |  | — |  |  | — |  |  | 1,451.0 |
Merchandise inventory | — |  |  | — |  |  | 378.9 |  |  | 3.1 |  |  | — |  |  | — |  |  | 382.0 |
Miscellaneous receivables | — |  |  | 49.9 |  |  | 91.0 |  |  | 5.4 |  |  | — |  |  | — |  |  | 146.3 |
Prepaid expenses and other | — |  |  | 10.7 |  |  | 33.4 |  |  | 5.1 |  |  | — |  |  | (3.1 | ) |  | 46.1 |
Total current assets | — |  |  | 257.1 |  |  | 1,879.2 |  |  | 102.7 |  |  | — |  |  | (25.5 | ) |  | 2,213.5 |
Property and equipment, net | — |  |  | 69.7 |  |  | 59.6 |  |  | 1.8 |  |  | — |  |  | — |  |  | 131.1 |
Goodwill | — |  |  | 751.9 |  |  | 1,439.0 |  |  | 29.4 |  |  | — |  |  | — |  |  | 2,220.3 |
Other intangible assets, net | — |  |  | 338.5 |  |  | 982.8 |  |  | 6.7 |  |  | — |  |  | — |  |  | 1,328.0 |
Deferred financing costs, net | — |  |  | 30.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30.1 |
Other assets | 4.9 |  |  | 1.4 |  |  | 0.1 |  |  | 0.9 |  |  | — |  |  | (5.7 | ) |  | 1.6 |
Investment in and advances to subsidiaries | 706.8 |  |  | 2,909.4 |  |  | — |  |  | — |  |  | — |  |  | (3,616.2 | ) |  | — |
Total assets | $ | 711.7 |  |  | $ | 4,358.1 |  |  | $ | 4,360.7 |  |  | $ | 141.5 |  |  | $ | — |  |  | $ | (3,647.4 | ) |  | $ | 5,924.6 |
Liabilities and Shareholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable-trade | $ | — |  |  | $ | 21.4 |  |  | $ | 637.3 |  |  | $ | 26.5 |  |  | $ | — |  |  | $ | (22.4 | ) |  | $ | 662.8 |
Accounts payable-inventory financing | — |  |  | — |  |  | 256.6 |  |  | — |  |  | — |  |  | — |  |  | 256.6 |
Current maturities of long-term debt | — |  |  | 45.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 45.4 |
Deferred revenue | — |  |  | — |  |  | 89.9 |  |  | 4.9 |  |  | — |  |  | — |  |  | 94.8 |
Accrued expenses | — |  |  | 163.5 |  |  | 175.1 |  |  | 7.5 |  |  | — |  |  | (3.1 | ) |  | 343.0 |
Total current liabilities | — |  |  | 230.3 |  |  | 1,158.9 |  |  | 38.9 |  |  | — |  |  | (25.5 | ) |  | 1,402.6 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt | — |  |  | 3,205.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,205.8 |
Deferred income taxes | — |  |  | 178.3 |  |  | 388.4 |  |  | 1.6 |  |  | — |  |  | (4.8 | ) |  | 563.5 |
Other liabilities | — |  |  | 36.9 |  |  | 3.6 |  |  | 1.4 |  |  | — |  |  | (0.9 | ) |  | 41.0 |
Total long-term liabilities | — |  |  | 3,421.0 |  |  | 392.0 |  |  | 3.0 |  |  | — |  |  | (5.7 | ) |  | 3,810.3 |
Total shareholders’ equity | 711.7 |  |  | 706.8 |  |  | 2,809.8 |  |  | 99.6 |  |  | — |  |  | (3,616.2 | ) |  | 711.7 |
Total liabilities and shareholders' equity | $ | 711.7 |  |  | $ | 4,358.1 |  |  | $ | 4,360.7 |  |  | $ | 141.5 |  |  | $ | — |  |  | $ | (3,647.4 | ) |  | $ | 5,924.6 |
Consolidating Statement of Operations
Three Months Ended September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 3,140.6 |  |  | $ | 125.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,266.1 |
Cost of sales | — |  |  | — |  |  | 2,648.8 |  |  | 110.0 |  |  | — |  |  | — |  |  | 2,758.8 |
Gross profit | — |  |  | — |  |  | 491.8 |  |  | 15.5 |  |  | — |  |  | — |  |  | 507.3 |
Selling and administrative expenses | — |  |  | 28.3 |  |  | 248.7 |  |  | 8.4 |  |  | — |  |  | — |  |  | 285.4 |
Advertising expense | — |  |  | — |  |  | 36.4 |  |  | 0.8 |  |  | — |  |  | — |  |  | 37.2 |
(Loss) income from operations | — |  |  | (28.3 | ) |  | 206.7 |  |  | 6.3 |  |  | — |  |  | — |  |  | 184.7 |
Interest (expense) income, net | — |  |  | (50.2 | ) |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  | (50.1 | )
Net loss on extinguishments of long-term debt | — |  |  | (45.8 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (45.8 | )
Management fee | — |  |  | 0.9 |  |  | — |  |  | (0.9 | ) |  | — |  |  | — |  |  | — |
Other income (expense), net | — |  |  | — |  |  | 0.6 |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.7 |
(Loss) income before income taxes | — |  |  | (123.4 | ) |  | 207.4 |  |  | 5.5 |  |  | — |  |  | — |  |  | 89.5 |
Income tax benefit (expense) | — |  |  | 46.0 |  |  | (78.4 | ) |  | (1.5 | ) |  | — |  |  | — |  |  | (33.9 | )
(Loss) income before equity in earnings of subsidiaries | — |  |  | (77.4 | ) |  | 129.0 |  |  | 4.0 |  |  | — |  |  | — |  |  | 55.6 |
Equity in earnings of subsidiaries | 55.6 |  |  | 133.0 |  |  | — |  |  | — |  |  | — |  |  | (188.6 | ) |  | — |
Net income | $ | 55.6 |  |  | $ | 55.6 |  |  | $ | 129.0 |  |  | $ | 4.0 |  |  | $ | — |  |  | $ | (188.6 | ) |  | $ | 55.6 |
Consolidating Statement of Operations
Three Months Ended September 30, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 2,753.4 |  |  | $ | 110.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,864.3 |
Cost of sales | — |  |  | — |  |  | 2,309.0 |  |  | 96.9 |  |  | — |  |  | — |  |  | 2,405.9 |
Gross profit | — |  |  | — |  |  | 444.4 |  |  | 14.0 |  |  | — |  |  | — |  |  | 458.4 |
Selling and administrative expenses | 24.4 |  |  | 20.6 |  |  | 278.6 |  |  | 8.8 |  |  | — |  |  | — |  |  | 332.4 |
Advertising expense | — |  |  | — |  |  | 31.9 |  |  | 1.2 |  |  | — |  |  | — |  |  | 33.1 |
(Loss) income from operations | (24.4 | ) |  | (20.6 | ) |  | 133.9 |  |  | 4.0 |  |  | — |  |  | — |  |  | 92.9 |
Interest (expense) income, net | — |  |  | (56.4 | ) |  | 0.2 |  |  | — |  |  | — |  |  | — |  |  | (56.2 | )
Net loss on extinguishments of long-term debt | — |  |  | (41.3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (41.3 | )
Management fee | — |  |  | 1.0 |  |  | — |  |  | (1.0 | ) |  | — |  |  | — |  |  | — |
Other (expense) income, net | — |  |  | (0.4 | ) |  | 0.2 |  |  | — |  |  | — |  |  | — |  |  | (0.2 | )
(Loss) income before income taxes | (24.4 | ) |  | (117.7 | ) |  | 134.3 |  |  | 3.0 |  |  | — |  |  | — |  |  | (4.8 | )
Income tax benefit (expense) | 9.2 |  |  | 43.6 |  |  | (49.4 | ) |  | (0.8 | ) |  | — |  |  | — |  |  | 2.6 |
(Loss) income before equity in earnings of subsidiaries | (15.2 | ) |  | (74.1 | ) |  | 84.9 |  |  | 2.2 |  |  | — |  |  | — |  |  | (2.2 | )
Equity in earnings of subsidiaries | 13.0 |  |  | 87.1 |  |  | — |  |  | — |  |  | — |  |  | (100.1 | ) |  | — |
Net income | $ | (2.2 | ) |  | $ | 13.0 |  |  | $ | 84.9 |  |  | $ | 2.2 |  |  | $ | — |  |  | $ | (100.1 | ) |  | $ | (2.2 | )
Consolidating Statement of Operations
Nine Months Ended September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 8,631.7 |  |  | $ | 392.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,024.4 |
Cost of sales | — |  |  | — |  |  | 7,248.7 |  |  | 346.3 |  |  | — |  |  | — |  |  | 7,595.0 |
Gross profit | — |  |  | — |  |  | 1,383.0 |  |  | 46.4 |  |  | — |  |  | — |  |  | 1,429.4 |
Selling and administrative expenses | — |  |  | 82.0 |  |  | 712.3 |  |  | 25.9 |  |  | — |  |  | — |  |  | 820.2 |
Advertising expense | — |  |  | — |  |  | 97.8 |  |  | 2.7 |  |  | — |  |  | — |  |  | 100.5 |
(Loss) income from operations | — |  |  | (82.0 | ) |  | 572.9 |  |  | 17.8 |  |  | — |  |  | — |  |  | 508.7 |
Interest (expense) income, net | — |  |  | (149.0 | ) |  | 0.1 |  |  | 0.2 |  |  | — |  |  | — |  |  | (148.7 | )
Net loss on extinguishments of long-term debt | — |  |  | (53.8 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (53.8 | )
Management fee | — |  |  | 2.9 |  |  | — |  |  | (2.9 | ) |  | — |  |  | — |  |  | — |
Other income (expense), net | — |  |  | 0.1 |  |  | 1.4 |  |  | (0.1 | ) |  | — |  |  | — |  |  | 1.4 |
(Loss) income before income taxes | — |  |  | (281.8 | ) |  | 574.4 |  |  | 15.0 |  |  | — |  |  | — |  |  | 307.6 |
Income tax benefit (expense) | — |  |  | 105.1 |  |  | (215.6 | ) |  | (4.0 | ) |  | — |  |  | — |  |  | (114.5 | )
(Loss) income before equity in earnings of subsidiaries | — |  |  | (176.7 | ) |  | 358.8 |  |  | 11.0 |  |  | — |  |  | — |  |  | 193.1 |
Equity in earnings of subsidiaries | 193.1 |  |  | 369.8 |  |  | — |  |  | — |  |  | — |  |  | (562.9 | ) |  | — |
Net income | $ | 193.1 |  |  | $ | 193.1 |  |  | $ | 358.8 |  |  | $ | 11.0 |  |  | $ | — |  |  | $ | (562.9 | ) |  | $ | 193.1 |
Consolidating Statement of Operations
Nine Months Ended September 30, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 7,705.2 |  |  | $ | 350.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,055.3 |
Cost of sales | — |  |  | — |  |  | 6,436.5 |  |  | 306.8 |  |  | — |  |  | — |  |  | 6,743.3 |
Gross profit | — |  |  | — |  |  | 1,268.7 |  |  | 43.3 |  |  | — |  |  | — |  |  | 1,312.0 |
Selling and administrative expenses | 24.4 |  |  | 73.9 |  |  | 725.4 |  |  | 26.6 |  |  | — |  |  | — |  |  | 850.3 |
Advertising expense | — |  |  | — |  |  | 92.0 |  |  | 3.1 |  |  | — |  |  | — |  |  | 95.1 |
(Loss) income from operations | (24.4 | ) |  | (73.9 | ) |  | 451.3 |  |  | 13.6 |  |  | — |  |  | — |  |  | 366.6 |
Interest (expense) income, net | — |  |  | (199.0 | ) |  | 0.2 |  |  | 0.2 |  |  | — |  |  | — |  |  | (198.6 | )
Net loss on extinguishments of long-term debt | — |  |  | (55.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (55.5 | )
Management fee | — |  |  | 3.4 |  |  | — |  |  | (3.4 | ) |  | — |  |  | — |  |  | — |
Other (expense) income, net | — |  |  | (0.5 | ) |  | 0.6 |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.4 |
(Loss) income before income taxes | (24.4 | ) |  | (325.5 | ) |  | 452.1 |  |  | 10.7 |  |  | — |  |  | — |  |  | 112.9 |
Income tax benefit (expense) | 9.2 |  |  | 121.0 |  |  | (167.8 | ) |  | (2.5 | ) |  | — |  |  | — |  |  | (40.1 | )
(Loss) income before equity in earnings of subsidiaries | (15.2 | ) |  | (204.5 | ) |  | 284.3 |  |  | 8.2 |  |  | — |  |  | — |  |  | 72.8 |
Equity in earnings of subsidiaries | 88.0 |  |  | 292.5 |  |  | — |  |  | — |  |  | — |  |  | (380.5 | ) |  | — |
Net income | $ | 72.8 |  |  | $ | 88.0 |  |  | $ | 284.3 |  |  | $ | 8.2 |  |  | $ | — |  |  | $ | (380.5 | ) |  | $ | 72.8 |
Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income (loss) | $ | 50.4 |  |  | $ | 50.4 |  |  | $ | 129.0 |  |  | $ | (1.2 | ) |  | $ | — |  |  | $ | (178.2 | ) |  | $ | 50.4 |
Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income (loss) | $ | (0.2 | ) |  | $ | 15.0 |  |  | $ | 84.9 |  |  | $ | 4.2 |  |  | $ | — |  |  | $ | (104.1 | ) |  | $ | (0.2 | )
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income (loss) | $ | 187.7 |  |  | $ | 187.7 |  |  | $ | 358.8 |  |  | $ | 5.6 |  |  | $ | — |  |  | $ | (552.1 | ) |  | $ | 187.7 |
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income (loss) | $ | 69.1 |  |  | $ | 84.2 |  |  | $ | 284.3 |  |  | $ | 4.5 |  |  | $ | — |  |  | $ | (373.0 | ) |  | $ | 69.1 |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2014
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash (used in) provided by operating activities | $ | — |  |  | $ | (127.2 | ) |  | $ | 450.9 |  |  | $ | 17.1 |  |  | $ | — |  |  | $ | 9.7 |  |  | $ | 350.5 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (29.9 | ) |  | (4.5 | ) |  | — |  |  | — |  |  | — |  |  | (34.4 | )
Payment of accrued charitable contribution related to the MPK Coworker Incentive Plan II | — |  |  | (20.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (20.9 | )
Premium payments on interest rate cap agreements | — |  |  | (0.7 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.7 | )
Net cash used in investing activities | — |  |  | (51.5 | ) |  | (4.5 | ) |  | — |  |  | — |  |  | — |  |  | (56.0 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Repayments of long-term debt | — |  |  | (11.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (11.6 | )
Proceeds from the issuance of long-term debt | — |  |  | 600.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 600.0 |
Payments to extinguish long-term debt | — |  |  | (723.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (723.9 | )
Payments of debt financing costs | — |  |  | (14.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (14.4 | )
Net change in accounts payable-inventory financing | — |  |  | — |  |  | 43.1 |  |  | — |  |  | — |  |  | — |  |  | 43.1 |
Proceeds from stock option exercises | — |  |  | 1.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1.1 |
Proceeds from Coworker Stock Purchase Plan | — |  |  | 3.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3.7 |
Dividends paid | (21.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (21.9 | )
Excess tax benefits from equity-based compensation | — |  |  | 0.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.2 |
Advances from (to) affiliates | 21.9 |  |  | 467.1 |  |  | (489.5 | ) |  | 0.5 |  |  | — |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | — |  |  | 322.2 |  |  | (446.4 | ) |  | 0.5 |  |  | — |  |  | — |  |  | (123.7 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (1.1 | ) |  | — |  |  | — |  |  | (1.1 | )
Net increase in cash and cash equivalents | — |  |  | 143.5 |  |  | — |  |  | 16.5 |  |  | — |  |  | 9.7 |  |  | 169.7 |
Cash and cash equivalents—beginning of period | — |  |  | 196.5 |  |  | — |  |  | 14.0 |  |  | — |  |  | (22.4 | ) |  | 188.1 |
Cash and cash equivalents—end of period | $ | — |  |  | $ | 340.0 |  |  | $ | — |  |  | $ | 30.5 |  |  | $ | — |  |  | $ | (12.7 | ) |  | $ | 357.8 |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2013
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiary |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash (used in) provided by operating activities | $ | (15.2 | ) |  | $ | (71.5 | ) |  | $ | 425.5 |  |  | $ | 19.0 |  |  | $ | — |  |  | $ | 13.0 |  |  | $ | 370.8 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (27.2 | ) |  | (3.2 | ) |  | (0.1 | ) |  | — |  |  | — |  |  | (30.5 | )
Net cash used in investing activities | — |  |  | (27.2 | ) |  | (3.2 | ) |  | (0.1 | ) |  | — |  |  | — |  |  | (30.5 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facility | — |  |  | 63.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 63.0 |
Repayments of borrowings under revolving credit facility | — |  |  | (63.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (63.0 | )
Repayments of long-term debt | — |  |  | (47.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (47.2 | )
Proceeds from issuance of long-term debt | — |  |  | 1,535.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,535.2 |
Payments to extinguish long-term debt | — |  |  | (1,885.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,885.9 | )
Net change in accounts payable - inventory financing | — |  |  | — |  |  | (24.0 | ) |  | — |  |  | — |  |  | — |  |  | (24.0 | )
Prepayment of Incentive compensation plan withholding taxes | — |  |  | (4.0 | ) |  | (19.6 | ) |  | (0.5 | ) |  | — |  |  | — |  |  | (24.1 | )
Net proceeds from issuance of common shares | 424.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 424.7 |
Advances from (to) affiliates | (409.5 | ) |  | 788.1 |  |  | (378.7 | ) |  | 0.1 |  |  | — |  |  | — |  |  | — |
Other financing activities | — |  |  | (6.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.1 | )
Net cash provided by (used in) financing activities | 15.2 |  |  | 380.1 |  |  | (422.3 | ) |  | (0.4 | ) |  | — |  |  | — |  |  | (27.4 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (0.6 | ) |  | — |  |  | — |  |  | (0.6 | )
Net increase in cash and cash equivalents | — |  |  | 281.4 |  |  | — |  |  | 17.9 |  |  | — |  |  | 13.0 |  |  | 312.3 |
Cash and cash equivalents—beginning of period | — |  |  | 48.0 |  |  | — |  |  | 9.8 |  |  | — |  |  | (19.9 | ) |  | 37.9 |
Cash and cash equivalents—end of period | $ | — |  |  | $ | 329.4 |  |  | $ | — |  |  | $ | 27.7 |  |  | $ | — |  |  | $ | (6.9 | ) |  | $ | 350.2 |

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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