v2.4.0.8

Supplemental Guarantor Information (Tables) | 9 Months Ended
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Sep. 30, 2014
Supplemental Guarantor Information [Abstract] |
Condensed Consolidating Balance Sheets |
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 |
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 |
Consolidating Statements of Operations |
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 |
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
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
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 | )
Condensed Consolidating Statements of Comprehensive Income (Loss) |
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, 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 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
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 Statements Cash Flows |
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 |
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 |

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