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Supplemental Guarantor Information (Tables) | 12 Months Ended
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Dec. 31, 2017
Supplemental Guarantor Information [Abstract] |
Schedule of Condensed Balance Sheet |
Condensed Consolidating Balance Sheet
December 31, 2017
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 113.7 |  |  | $ | — |  |  | $ | 32.4 |  |  | $ | — |  |  | $ | (1.9 | ) |  | $ | 144.2 |
Accounts receivable, net | — |  |  | — |  |  | 2,007.7 |  |  | 312.8 |  |  | — |  |  | — |  |  | 2,320.5 |
Merchandise inventory | — |  |  | — |  |  | 375.7 |  |  | 73.8 |  |  | — |  |  | — |  |  | 449.5 |
Miscellaneous receivables | — |  |  | 103.9 |  |  | 205.0 |  |  | 27.6 |  |  | — |  |  | — |  |  | 336.5 |
Prepaid expenses and other | — |  |  | 18.0 |  |  | 61.4 |  |  | 48.0 |  |  | — |  |  | — |  |  | 127.4 |
Total current assets | — |  |  | 235.6 |  |  | 2,649.8 |  |  | 494.6 |  |  | — |  |  | (1.9 | ) |  | 3,378.1 |
Property and equipment, net | — |  |  | 95.0 |  |  | 43.5 |  |  | 22.6 |  |  | — |  |  | — |  |  | 161.1 |
Goodwill | — |  |  | 751.8 |  |  | 1,439.0 |  |  | 288.8 |  |  | — |  |  | — |  |  | 2,479.6 |
Other intangible assets, net | — |  |  | 280.1 |  |  | 424.5 |  |  | 192.4 |  |  | — |  |  | — |  |  | 897.0 |
Other assets | 1.7 |  |  | 30.7 |  |  | 217.3 |  |  | 2.6 |  |  | — |  |  | (211.5 | ) |  | 40.8 |
Investment in and advances to subsidiaries | 981.2 |  |  | 3,063.5 |  |  | — |  |  | — |  |  | — |  |  | (4,044.7 | ) |  | — |
Total Assets | $ | 982.9 |  |  | $ | 4,456.7 |  |  | $ | 4,774.1 |  |  | $ | 1,001.0 |  |  | $ | — |  |  | $ | (4,258.1 | ) |  | $ | 6,956.6 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable-trade | $ | — |  |  | $ | 42.5 |  |  | $ | 1,112.1 |  |  | $ | 165.0 |  |  | $ | — |  |  | $ | (1.9 | ) |  | $ | 1,317.7 |
Accounts payable-inventory financing | — |  |  | 1.0 |  |  | 480.9 |  |  | 16.1 |  |  | — |  |  | — |  |  | 498.0 |
Current maturities of long-term debt | — |  |  | 14.9 |  |  | 3.8 |  |  | 6.8 |  |  | — |  |  | — |  |  | 25.5 |
Deferred revenue | — |  |  | — |  |  | 104.5 |  |  | 89.5 |  |  | — |  |  | — |  |  | 194.0 |
Accrued expenses | — |  |  | 173.3 |  |  | 222.3 |  |  | 83.8 |  |  | — |  |  | — |  |  | 479.4 |
Total current liabilities | — |  |  | 231.7 |  |  | 1,923.6 |  |  | 361.2 |  |  | — |  |  | (1.9 | ) |  | 2,514.6 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt | — |  |  | 3,134.2 |  |  | 8.3 |  |  | 67.5 |  |  | — |  |  | — |  |  | 3,210.0 |
Deferred income taxes | — |  |  | 66.5 |  |  | 100.1 |  |  | 31.4 |  |  | — |  |  | (1.7 | ) |  | 196.3 |
Other liabilities | — |  |  | 43.1 |  |  | 4.6 |  |  | 214.9 |  |  | — |  |  | (209.8 | ) |  | 52.8 |
Total long-term liabilities | — |  |  | 3,243.8 |  |  | 113.0 |  |  | 313.8 |  |  | — |  |  | (211.5 | ) |  | 3,459.1 |
Total stockholders’ equity | 982.9 |  |  | 981.2 |  |  | 2,737.5 |  |  | 326.0 |  |  | — |  |  | (4,044.7 | ) |  | 982.9 |
Total Liabilities and Stockholders’ Equity | $ | 982.9 |  |  | $ | 4,456.7 |  |  | $ | 4,774.1 |  |  | $ | 1,001.0 |  |  | $ | — |  |  | $ | (4,258.1 | ) |  | $ | 6,956.6 |
Condensed Consolidating Balance Sheet
December 31, 2016
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 222.7 |  |  | $ | 3.1 |  |  | $ | 37.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 263.7 |
Accounts receivable, net | — |  |  | — |  |  | 1,904.9 |  |  | 263.7 |  |  | — |  |  | — |  |  | 2,168.6 |
Merchandise inventory | — |  |  | — |  |  | 390.6 |  |  | 61.4 |  |  | — |  |  | — |  |  | 452.0 |
Miscellaneous receivables | — |  |  | 92.6 |  |  | 130.1 |  |  | 12.2 |  |  | — |  |  | — |  |  | 234.9 |
Prepaid expenses and other | — |  |  | 14.3 |  |  | 69.0 |  |  | 35.6 |  |  | — |  |  | — |  |  | 118.9 |
Total current assets | — |  |  | 329.6 |  |  | 2,497.7 |  |  | 410.8 |  |  | — |  |  | — |  |  | 3,238.1 |
Property and equipment, net | — |  |  | 105.6 |  |  | 49.3 |  |  | 8.8 |  |  | — |  |  | — |  |  | 163.7 |
Goodwill | — |  |  | 751.8 |  |  | 1,439.0 |  |  | 264.2 |  |  | — |  |  | — |  |  | 2,455.0 |
Other intangible assets, net | — |  |  | 291.5 |  |  | 565.1 |  |  | 199.0 |  |  | — |  |  | — |  |  | 1,055.6 |
Other assets | 3.2 |  |  | 19.4 |  |  | 248.2 |  |  | 1.5 |  |  | — |  |  | (236.3 | ) |  | 36.0 |
Investment in and advances to subsidiaries | 1,042.3 |  |  | 3,026.5 |  |  | — |  |  | — |  |  | — |  |  | (4,068.8 | ) |  | — |
Total Assets | $ | 1,045.5 |  |  | $ | 4,524.4 |  |  | $ | 4,799.3 |  |  | $ | 884.3 |  |  | $ | — |  |  | $ | (4,305.1 | ) |  | $ | 6,948.4 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable-trade | $ | — |  |  | $ | 25.9 |  |  | $ | 895.3 |  |  | $ | 151.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,072.9 |
Accounts payable-inventory financing | — |  |  | 1.2 |  |  | 559.5 |  |  | 19.7 |  |  | — |  |  | — |  |  | 580.4 |
Current maturities of long-term debt | — |  |  | 14.9 |  |  | 3.6 |  |  | — |  |  | — |  |  | — |  |  | 18.5 |
Deferred revenue | — |  |  | — |  |  | 100.8 |  |  | 71.8 |  |  | — |  |  | — |  |  | 172.6 |
Accrued expenses | — |  |  | 173.9 |  |  | 214.8 |  |  | 47.7 |  |  | — |  |  | (0.1 | ) |  | 436.3 |
Total current liabilities | — |  |  | 215.9 |  |  | 1,774.0 |  |  | 290.9 |  |  | — |  |  | (0.1 | ) |  | 2,280.7 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt | — |  |  | 3,136.3 |  |  | 12.1 |  |  | 67.5 |  |  | — |  |  | — |  |  | 3,215.9 |
Deferred income taxes | — |  |  | 99.1 |  |  | 205.4 |  |  | 67.9 |  |  | — |  |  | (3.2 | ) |  | 369.2 |
Other liabilities | — |  |  | 30.8 |  |  | 3.6 |  |  | 235.7 |  |  | — |  |  | (233.0 | ) |  | 37.1 |
Total long-term liabilities | — |  |  | 3,266.2 |  |  | 221.1 |  |  | 371.1 |  |  | — |  |  | (236.2 | ) |  | 3,622.2 |
Total stockholders’ equity | 1,045.5 |  |  | 1,042.3 |  |  | 2,804.2 |  |  | 222.3 |  |  | — |  |  | (4,068.8 | ) |  | 1,045.5 |
Total Liabilities and Stockholders’ Equity | $ | 1,045.5 |  |  | $ | 4,524.4 |  |  | $ | 4,799.3 |  |  | $ | 884.3 |  |  | $ | — |  |  | $ | (4,305.1 | ) |  | $ | 6,948.4 |
Schedule of Condensed Income Statement |
Consolidating Statement of Operations
Year Ended December 31, 2017
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 13,631.0 |  |  | $ | 1,560.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,191.5 |
Cost of sales | — |  |  | — |  |  | 11,436.1 |  |  | 1,305.5 |  |  | — |  |  | — |  |  | 12,741.6 |
Gross profit | — |  |  | — |  |  | 2,194.9 |  |  | 255.0 |  |  | — |  |  | — |  |  | 2,449.9 |
Selling and administrative expenses | — |  |  | 127.2 |  |  | 1,093.1 |  |  | 189.8 |  |  | — |  |  | — |  |  | 1,410.1 |
Advertising expense | — |  |  | — |  |  | 166.4 |  |  | 7.3 |  |  | — |  |  | — |  |  | 173.7 |
Income (loss) from operations | — |  |  | (127.2 | ) |  | 935.4 |  |  | 57.9 |  |  | — |  |  | — |  |  | 866.1 |
Interest (expense) income, net | — |  |  | (148.3 | ) |  | 4.1 |  |  | (6.3 | ) |  | — |  |  | — |  |  | (150.5 | )
Net loss on extinguishments of long-term debt | — |  |  | (57.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (57.4 | )
Other income (expense), net | — |  |  | (0.1 | ) |  | 0.7 |  |  | 1.5 |  |  | — |  |  | — |  |  | 2.1 |
Income (loss) before income taxes | — |  |  | (333.0 | ) |  | 940.2 |  |  | 53.1 |  |  | — |  |  | — |  |  | 660.3 |
Income tax (expense) benefit | (0.9 | ) |  | 149.9 |  |  | (269.7 | ) |  | (16.6 | ) |  | — |  |  | — |  |  | (137.3 | )
Income (loss) before equity in earnings of subsidiaries | (0.9 | ) |  | (183.1 | ) |  | 670.5 |  |  | 36.5 |  |  | — |  |  | — |  |  | 523.0 |
Equity in earnings of subsidiaries | 523.9 |  |  | 707.0 |  |  | — |  |  | — |  |  | — |  |  | (1,230.9 | ) |  | — |
Net income | $ | 523.0 |  |  | $ | 523.9 |  |  | $ | 670.5 |  |  | $ | 36.5 |  |  | $ | — |  |  | $ | (1,230.9 | ) |  | $ | 523.0 |
Consolidating Statement of Operations
Year Ended December 31, 2016
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 12,619.3 |  |  | $ | 1,362.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 13,981.9 |
Cost of sales | — |  |  | — |  |  | 10,514.4 |  |  | 1,140.3 |  |  | — |  |  | — |  |  | 11,654.7 |
Gross profit | — |  |  | — |  |  | 2,104.9 |  |  | 222.3 |  |  | — |  |  | — |  |  | 2,327.2 |
Selling and administrative expenses | — |  |  | 114.8 |  |  | 1,057.4 |  |  | 172.9 |  |  | — |  |  | — |  |  | 1,345.1 |
Advertising expense | — |  |  | — |  |  | 157.2 |  |  | 5.7 |  |  | — |  |  | — |  |  | 162.9 |
Income (loss) from operations | — |  |  | (114.8 | ) |  | 890.3 |  |  | 43.7 |  |  | — |  |  | — |  |  | 819.2 |
Interest (expense) income, net | — |  |  | (145.8 | ) |  | 6.7 |  |  | (7.4 | ) |  | — |  |  | — |  |  | (146.5 | )
Net loss on extinguishments of long-term debt | — |  |  | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Other income, net | — |  |  | 0.2 |  |  | 1.0 |  |  | 0.6 |  |  | — |  |  | — |  |  | 1.8 |
Income (loss) before income taxes | — |  |  | (262.5 | ) |  | 898.0 |  |  | 36.9 |  |  | — |  |  | — |  |  | 672.4 |
Income tax (expense) benefit | — |  |  | 79.9 |  |  | (319.9 | ) |  | (8.0 | ) |  | — |  |  | — |  |  | (248.0 | )
Income (loss) before equity in earnings of subsidiaries | — |  |  | (182.6 | ) |  | 578.1 |  |  | 28.9 |  |  | — |  |  | — |  |  | 424.4 |
Equity in earnings of subsidiaries | 424.4 |  |  | 607.0 |  |  | — |  |  | — |  |  | — |  |  | (1,031.4 | ) |  | — |
Net income | $ | 424.4 |  |  | $ | 424.4 |  |  | $ | 578.1 |  |  | $ | 28.9 |  |  | $ | — |  |  | $ | (1,031.4 | ) |  | $ | 424.4 |
Consolidating Statement of Operations
Year Ended December 31, 2015
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 12,151.2 |  |  | $ | 837.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,988.7 |
Cost of sales | — |  |  | — |  |  | 10,158.6 |  |  | 714.3 |  |  | — |  |  | — |  |  | 10,872.9 |
Gross profit | — |  |  | — |  |  | 1,992.6 |  |  | 123.2 |  |  | — |  |  | — |  |  | 2,115.8 |
Selling and administrative expenses | — |  |  | 114.5 |  |  | 1,020.9 |  |  | 90.6 |  |  | — |  |  | — |  |  | 1,226.0 |
Advertising expense | — |  |  | — |  |  | 143.2 |  |  | 4.6 |  |  | — |  |  | — |  |  | 147.8 |
Income (loss) from operations | — |  |  | (114.5 | ) |  | 828.5 |  |  | 28.0 |  |  | — |  |  | — |  |  | 742.0 |
Interest (expense) income, net | — |  |  | (158.3 | ) |  | 2.3 |  |  | (3.5 | ) |  | — |  |  | — |  |  | (159.5 | )
Net loss on extinguishments of long-term debt | — |  |  | (24.3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (24.3 | )
Management fee | — |  |  | 4.2 |  |  | — |  |  | (4.2 | ) |  | — |  |  | — |  |  | — |
Gain on remeasurement of equity investment | — |  |  | — |  |  | — |  |  | 98.1 |  |  | — |  |  | — |  |  | 98.1 |
Other (expense) income, net | — |  |  | (11.1 | ) |  | 1.6 |  |  | 0.2 |  |  | — |  |  | — |  |  | (9.3 | )
Income (loss) before income taxes | — |  |  | (304.0 | ) |  | 832.4 |  |  | 118.6 |  |  | — |  |  | — |  |  | 647.0 |
Income tax (expense) benefit | — |  |  | 103.3 |  |  | (307.2 | ) |  | (40.0 | ) |  | — |  |  | — |  |  | (243.9 | )
Income (loss) before equity in earnings of subsidiaries | — |  |  | (200.7 | ) |  | 525.2 |  |  | 78.6 |  |  | — |  |  | — |  |  | 403.1 |
Equity in earnings of subsidiaries | 403.1 |  |  | 603.8 |  |  | — |  |  | — |  |  | — |  |  | (1,006.9 | ) |  | — |
Net income | $ | 403.1 |  |  | $ | 403.1 |  |  | $ | 525.2 |  |  | $ | 78.6 |  |  | $ | — |  |  | $ | (1,006.9 | ) |  | $ | 403.1 |
Schedule of Condensed Comprehensive Income (Loss) |
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2017
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 566.7 |  |  | $ | 567.6 |  |  | $ | 670.5 |  |  | $ | 80.0 |  |  | $ | — |  |  | $ | (1,318.1 | ) |  | $ | 566.7 |
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2016
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income (loss) | $ | 345.9 |  |  | $ | 345.9 |  |  | $ | 578.1 |  |  | $ | (49.6 | ) |  | $ | — |  |  | $ | (874.4 | ) |  | $ | 345.9 |
Condensed Consolidating Statement of Comprehensive Income
Year Ended December 31, 2015
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 358.6 |  |  | $ | 358.6 |  |  | $ | 525.2 |  |  | $ | 34.1 |  |  | $ | — |  |  | $ | (917.9 | ) |  | $ | 358.6 |
Schedule of Condensed Cash Flow Statement |
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2017
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash provided by (used in) operating activities | $ | 0.6 |  |  | $ | (71.1 | ) |  | $ | 788.5 |  |  | $ | 52.3 |  |  | $ | — |  |  | $ | 7.4 |  |  | $ | 777.7 |
Cash flows used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (55.2 | ) |  | (6.3 | ) |  | (19.6 | ) |  | — |  |  | — |  |  | (81.1 | )
Net cash used in investing activities | — |  |  | (55.2 | ) |  | (6.3 | ) |  | (19.6 | ) |  | — |  |  | — |  |  | (81.1 | )
Cash flows (used in) provided by: financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facility | — |  |  | 1,501.5 |  |  | — |  |  | 59.2 |  |  | — |  |  | — |  |  | 1,560.7 |
Repayments of borrowings under revolving credit facility | — |  |  | (1,501.5 | ) |  | — |  |  | (59.2 | ) |  | — |  |  | — |  |  | (1,560.7 | )
Repayments of long-term debt | — |  |  | (14.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (14.9 | )
Proceeds from issuance of long-term debt | — |  |  | 2,083.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,083.0 |
Payments to extinguish long-term debt | — |  |  | (2,121.3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2,121.3 | )
Net change in other long-term obligation | — |  |  | — |  |  | (3.8 | ) |  | — |  |  | — |  |  | — |  |  | (3.8 | )
Payment of debt financing costs | — |  |  | (9.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9.6 | )
Net change in accounts payable-inventory financing | — |  |  | (0.2 | ) |  | (78.4 | ) |  | (5.4 | ) |  | — |  |  | — |  |  | (84.0 | )
Effective portion of interest rate cap agreements | — |  |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.4 |
Proceeds from stock option exercises | — |  |  | 13.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13.0 |
Proceeds from Coworker stock purchase plan | — |  |  | 10.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.3 |
Repurchases of common stock | (534.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (534.0 | )
Payment of incentive compensation plan withholding taxes | (49.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (49.6 | )
Dividends | (106.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (106.9 | )
Principal payments under capital lease obligations | — |  |  | — |  |  | (0.2 | ) |  | (1.1 | ) |  | — |  |  | — |  |  | (1.3 | )
Repayment of intercompany loan | — |  |  | — |  |  | 34.3 |  |  | (34.3 | ) |  | — |  |  | — |  |  | — |
Distributions and advances from (to) affiliates | 689.9 |  |  | 56.6 |  |  | (737.2 | ) |  | — |  |  | — |  |  | (9.3 | ) |  | — |
Net cash (used in) provided by financing activities | (0.6 | ) |  | 17.3 |  |  | (785.3 | ) |  | (40.8 | ) |  | — |  |  | (9.3 | ) |  | (818.7 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 2.6 |  |  | — |  |  | — |  |  | 2.6 |
Net decrease in cash and cash equivalents | — |  |  | (109.0 | ) |  | (3.1 | ) |  | (5.5 | ) |  | — |  |  | (1.9 | ) |  | (119.5 | )
Cash and cash equivalents – beginning of period | — |  |  | 222.7 |  |  | 3.1 |  |  | 37.9 |  |  | — |  |  | — |  |  | 263.7 |
Cash and cash equivalents – end of period | $ | — |  |  | $ | 113.7 |  |  | $ | — |  |  | $ | 32.4 |  |  | $ | — |  |  | $ | (1.9 | ) |  | $ | 144.2 |
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2016
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash provided by (used in) operating activities | $ | — |  |  | $ | (158.5 | ) |  | $ | 695.5 |  |  | $ | 56.1 |  |  | $ | — |  |  | $ | 10.9 |  |  | $ | 604.0 |
Cash flows used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (50.9 | ) |  | (7.6 | ) |  | (5.0 | ) |  | — |  |  | — |  |  | (63.5 | )
Premium payments on interest rate cap agreements | — |  |  | (2.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.4 | )
Net cash used in investing activities | — |  |  | (53.3 | ) |  | (7.6 | ) |  | (5.0 | ) |  | — |  |  | — |  |  | (65.9 | )
Cash flows (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facility | — |  |  | 329.6 |  |  | — |  |  | 9.2 |  |  | — |  |  | — |  |  | 338.8 |
Repayments of borrowings under revolving credit facility | — |  |  | (329.6 | ) |  | — |  |  | (9.2 | ) |  | — |  |  | — |  |  | (338.8 | )
Repayments of long-term debt | — |  |  | (15.2 | ) |  | — |  |  | (5.4 | ) |  | — |  |  | — |  |  | (20.6 | )
Proceeds from issuance of long-term debt | — |  |  | 1,483.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,483.0 |
Payments to extinguish long-term debt | — |  |  | (1,490.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1,490.4 | )
Net change in other long-term obligation | — |  |  | — |  |  | 15.7 |  |  | — |  |  | — |  |  | — |  |  | 15.7 |
Payment of debt financing costs | — |  |  | (4.5 | ) |  | — |  |  | (1.4 | ) |  | — |  |  | — |  |  | (5.9 | )
Net change in accounts payable - inventory financing | — |  |  | 1.5 |  |  | 131.0 |  |  | 11.1 |  |  | — |  |  | — |  |  | 143.6 |
Proceeds from stock option exercises | — |  |  | 7.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7.4 |
Proceeds from Coworker Stock Purchase Plan | — |  |  | 9.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9.3 |
Repurchases of common stock | (367.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (367.4 | )
Dividends | (78.7 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (78.7 | )
Principal payments under capital lease obligations | — |  |  | — |  |  | 1.0 |  |  | (1.6 | ) |  | — |  |  | — |  |  | (0.6 | )
Repayment of intercompany loan | — |  |  | — |  |  | 40.4 |  |  | (40.4 | ) |  | — |  |  | — |  |  | — |
Distributions and advances from (to) affiliates | 446.1 |  |  | 398.3 |  |  | (872.9 | ) |  | — |  |  | — |  |  | 28.5 |  |  | — |
Net cash (used in) provided by financing activities | — |  |  | 389.4 |  |  | (684.8 | ) |  | (37.7 | ) |  | — |  |  | 28.5 |  |  | (304.6 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (7.4 | ) |  | — |  |  | — |  |  | (7.4 | )
Net increase in cash and cash equivalents | — |  |  | 177.6 |  |  | 3.1 |  |  | 6.0 |  |  | — |  |  | 39.4 |  |  | 226.1 |
Cash and cash equivalents—beginning of period | — |  |  | 45.1 |  |  | — |  |  | 31.9 |  |  | — |  |  | (39.4 | ) |  | 37.6 |
Cash and cash equivalents—end of period | $ | — |  |  | $ | 222.7 |  |  | $ | 3.1 |  |  | $ | 37.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 263.7 |
Condensed Consolidating Statement of Cash Flows
Year Ended December 31, 2015
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash provided (used in) by operating activities | $ | 0.5 |  |  | $ | (18.1 | ) |  | $ | 350.0 |  |  | $ | 27.9 |  |  | $ | — |  |  | $ | (82.8 | ) |  | $ | 277.5 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (75.4 | ) |  | (11.6 | ) |  | (3.1 | ) |  | — |  |  | — |  |  | (90.1 | )
Premium payments on interest rate cap agreements | — |  |  | (0.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.5 | )
Acquisition of business, net of cash acquired | — |  |  | — |  |  | — |  |  | (263.8 | ) |  | — |  |  | — |  |  | (263.8 | )
Net cash used in investing activities | — |  |  | (75.9 | ) |  | (11.6 | ) |  | (266.9 | ) |  | — |  |  | — |  |  | (354.4 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facility | — |  |  | 314.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 314.5 |
Repayments of borrowings under revolving credit facility | — |  |  | (314.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (314.5 | )
Repayments of long-term debt | — |  |  | (15.4 | ) |  | — |  |  | (17.4 | ) |  | — |  |  | — |  |  | (32.8 | )
Proceeds from issuance of long-term debt | — |  |  | 525.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 525.0 |
Payments to extinguish long-term debt | — |  |  | (525.3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (525.3 | )
Payment of debt financing costs | — |  |  | (6.8 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (6.8 | )
Net change in accounts payable-inventory financing | — |  |  | — |  |  | 96.1 |  |  | (0.2 | ) |  | — |  |  | — |  |  | 95.9 |
Proceeds from stock option exercises | — |  |  | 2.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2.4 |
Proceeds from Coworker stock purchase plan | — |  |  | 8.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8.7 |
Repurchases of common stock | (241.3 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (241.3 | )
Payment of incentive compensation plan withholding taxes | — |  |  | 0.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Dividends | (52.9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (52.9 | )
Distributions and advances from (to) affiliates | 293.7 |  |  | (196.5 | ) |  | (434.5 | ) |  | 267.4 |  |  | — |  |  | 69.9 |  |  | — |
Net cash (used in) provided by financing activities | (0.5 | ) |  | (207.3 | ) |  | (338.4 | ) |  | 249.8 |  |  | — |  |  | 69.9 |  |  | (226.5 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (3.5 | ) |  | — |  |  | — |  |  | (3.5 | )
Net (decrease) increase in cash and cash equivalents | — |  |  | (301.3 | ) |  | — |  |  | 7.3 |  |  | — |  |  | (12.9 | ) |  | (306.9 | )
Cash and cash equivalents – beginning of period | — |  |  | 346.4 |  |  | — |  |  | 24.6 |  |  | — |  |  | (26.5 | ) |  | 344.5 |
Cash and cash equivalents – end of period | $ | — |  |  | $ | 45.1 |  |  | $ | — |  |  | $ | 31.9 |  |  | $ | — |  |  | $ | (39.4 | ) |  | $ | 37.6 |

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