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Supplemental Guarantor Information (Tables) | 9 Months Ended
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Sep. 30, 2018
Supplemental Guarantor Information [Abstract] |
Condensed Consolidating Balance Sheets |
Condensed Consolidating Balance Sheet
September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 220.9 |  |  | $ | — |  |  | $ | 49.5 |  |  | $ | — |  |  | $ | (15.3 | ) |  | $ | 255.1 |
Accounts receivable, net | — |  |  | — |  |  | 2,338.3 |  |  | 312.2 |  |  | — |  |  | — |  |  | 2,650.5 |
Merchandise inventory | — |  |  | — |  |  | 419.7 |  |  | 61.4 |  |  | — |  |  | — |  |  | 481.1 |
Miscellaneous receivables | — |  |  | 123.6 |  |  | 228.6 |  |  | 18.2 |  |  | — |  |  | — |  |  | 370.4 |
Prepaid expenses and other | — |  |  | 17.4 |  |  | 133.3 |  |  | 41.7 |  |  | — |  |  | — |  |  | 192.4 |
Total current assets | — |  |  | 361.9 |  |  | 3,119.9 |  |  | 483.0 |  |  | — |  |  | (15.3 | ) |  | 3,949.5 |
Property and equipment, net | — |  |  | 84.4 |  |  | 40.9 |  |  | 22.5 |  |  | — |  |  | — |  |  | 147.8 |
Goodwill | — |  |  | 751.8 |  |  | 1,439.0 |  |  | 278.7 |  |  | — |  |  | — |  |  | 2,469.5 |
Other intangible assets, net | — |  |  | 272.7 |  |  | 317.4 |  |  | 168.1 |  |  | — |  |  | — |  |  | 758.2 |
Other assets | 1.4 |  |  | 64.9 |  |  | 151.8 |  |  | 2.1 |  |  | — |  |  | (169.8 | ) |  | 50.4 |
Investment in and advances to subsidiaries | 1,159.3 |  |  | 3,115.3 |  |  | — |  |  | — |  |  | — |  |  | (4,274.6 | ) |  | — |
Total Assets | $ | 1,160.7 |  |  | $ | 4,651.0 |  |  | $ | 5,069.0 |  |  | $ | 954.4 |  |  | $ | — |  |  | $ | (4,459.7 | ) |  | $ | 7,375.4 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable-trade | $ | — |  |  | $ | 24.9 |  |  | $ | 1,431.2 |  |  | $ | 169.1 |  |  | $ | — |  |  | $ | (15.3 | ) |  | $ | 1,609.9 |
Accounts payable-inventory financing | — |  |  | 0.2 |  |  | 395.1 |  |  | 12.3 |  |  | — |  |  | — |  |  | 407.6 |
Current maturities of long-term debt | — |  |  | 14.9 |  |  | 4.1 |  |  | 13.0 |  |  | — |  |  | — |  |  | 32.0 |
Contract liabilities | — |  |  | — |  |  | 112.8 |  |  | 75.7 |  |  | — |  |  | — |  |  | 188.5 |
Accrued expenses and other current liabilities | — |  |  | 217.1 |  |  | 283.3 |  |  | 65.5 |  |  | — |  |  | — |  |  | 565.9 |
Total current liabilities | — |  |  | 257.1 |  |  | 2,226.5 |  |  | 335.6 |  |  | — |  |  | (15.3 | ) |  | 2,803.9 |
Long-term liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Debt | — |  |  | 3,124.2 |  |  | 4.3 |  |  | 58.9 |  |  | — |  |  | — |  |  | 3,187.4 |
Deferred income taxes | — |  |  | 63.4 |  |  | 68.6 |  |  | 27.8 |  |  | — |  |  | (1.4 | ) |  | 158.4 |
Other liabilities | — |  |  | 47.0 |  |  | 5.7 |  |  | 180.7 |  |  | — |  |  | (168.4 | ) |  | 65.0 |
Total long-term liabilities | — |  |  | 3,234.6 |  |  | 78.6 |  |  | 267.4 |  |  | — |  |  | (169.8 | ) |  | 3,410.8 |
Total stockholders' equity | 1,160.7 |  |  | 1,159.3 |  |  | 2,763.9 |  |  | 351.4 |  |  | — |  |  | (4,274.6 | ) |  | 1,160.7 |
Total Liabilities and Stockholders' Equity | $ | 1,160.7 |  |  | $ | 4,651.0 |  |  | $ | 5,069.0 |  |  | $ | 954.4 |  |  | $ | — |  |  | $ | (4,459.7 | ) |  | $ | 7,375.4 |
Condensed Consolidating Balance Sheet
December 31, 2017
(as adjusted)
(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 | — |  |  | — |  |  | 2,015.7 |  |  | 313.6 |  |  | — |  |  | — |  |  | 2,329.3 |
Merchandise inventory | — |  |  | — |  |  | 354.6 |  |  | 56.9 |  |  | — |  |  | — |  |  | 411.5 |
Miscellaneous receivables | — |  |  | 103.9 |  |  | 211.1 |  |  | 28.0 |  |  | — |  |  | — |  |  | 343.0 |
Prepaid expenses and other | — |  |  | 18.0 |  |  | 100.4 |  |  | 49.9 |  |  | — |  |  | — |  |  | 168.3 |
Total current assets | — |  |  | 235.6 |  |  | 2,681.8 |  |  | 480.8 |  |  | — |  |  | (1.9 | ) |  | 3,396.3 |
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 |  |  | 209.3 |  |  | 2.6 |  |  | — |  |  | (211.6 | ) |  | 32.7 |
Investment in and advances to subsidiaries | 983.9 |  |  | 3,066.1 |  |  | — |  |  | — |  |  | — |  |  | (4,050.0 | ) |  | — |
Total Assets | $ | 985.6 |  |  | $ | 4,459.3 |  |  | $ | 4,798.1 |  |  | $ | 987.2 |  |  | $ | — |  |  | $ | (4,263.5 | ) |  | $ | 6,966.7 |
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 |
Contract liabilities | — |  |  | — |  |  | 87.5 |  |  | 71.3 |  |  | — |  |  | — |  |  | 158.8 |
Accrued expenses and other current liabilities | — |  |  | 173.3 |  |  | 262.0 |  |  | 86.8 |  |  | — |  |  | — |  |  | 522.1 |
Total current liabilities | — |  |  | 231.7 |  |  | 1,946.3 |  |  | 346.0 |  |  | — |  |  | (1.9 | ) |  | 2,522.1 |
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 | — |  |  | 43.0 |  |  | 4.7 |  |  | 214.9 |  |  | — |  |  | (209.9 | ) |  | 52.7 |
Total long-term liabilities | — |  |  | 3,243.7 |  |  | 113.1 |  |  | 313.8 |  |  | — |  |  | (211.6 | ) |  | 3,459.0 |
Total stockholders' equity | 985.6 |  |  | 983.9 |  |  | 2,738.7 |  |  | 327.4 |  |  | — |  |  | (4,050.0 | ) |  | 985.6 |
Total Liabilities and Stockholders' Equity | $ | 985.6 |  |  | $ | 4,459.3 |  |  | $ | 4,798.1 |  |  | $ | 987.2 |  |  | $ | — |  |  | $ | (4,263.5 | ) |  | $ | 6,966.7 |
Consolidating Statements of Operations |
Consolidating Statement of Operations
Three Months Ended September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 3,921.6 |  |  | $ | 451.6 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,373.2 |
Cost of sales | — |  |  | — |  |  | 3,286.6 |  |  | 373.0 |  |  | — |  |  | — |  |  | 3,659.6 |
Gross profit | — |  |  | — |  |  | 635.0 |  |  | 78.6 |  |  | — |  |  | — |  |  | 713.6 |
Selling and administrative expenses | — |  |  | 33.7 |  |  | 299.8 |  |  | 57.2 |  |  | — |  |  | — |  |  | 390.7 |
Advertising expense | — |  |  | — |  |  | 45.9 |  |  | 2.2 |  |  | — |  |  | — |  |  | 48.1 |
Income (loss) from operations | — |  |  | (33.7 | ) |  | 289.3 |  |  | 19.2 |  |  | — |  |  | — |  |  | 274.8 |
Interest (expense) income, net | — |  |  | (36.1 | ) |  | 0.9 |  |  | (1.4 | ) |  | — |  |  | — |  |  | (36.6 | )
Other income | — |  |  | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.2 |
Income (loss) before income taxes | — |  |  | (69.8 | ) |  | 290.3 |  |  | 17.9 |  |  | — |  |  | — |  |  | 238.4 |
Income tax (expense) benefit | (0.1 | ) |  | 20.5 |  |  | (75.3 | ) |  | 0.2 |  |  | — |  |  | — |  |  | (54.7 | )
Income (loss) before equity in earnings of subsidiaries | (0.1 | ) |  | (49.3 | ) |  | 215.0 |  |  | 18.1 |  |  | — |  |  | — |  |  | 183.7 |
Equity in earnings of subsidiaries | 183.8 |  |  | 233.1 |  |  | — |  |  | — |  |  | — |  |  | (416.9 | ) |  | — |
Net income | $ | 183.7 |  |  | $ | 183.8 |  |  | $ | 215.0 |  |  | $ | 18.1 |  |  | $ | — |  |  | $ | (416.9 | ) |  | $ | 183.7 |
Consolidating Statement of Operations
Three Months Ended September 30, 2017
(as adjusted)
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 3,552.1 |  |  | $ | 381.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,933.2 |
Cost of sales | — |  |  | — |  |  | 2,974.9 |  |  | 316.1 |  |  | — |  |  | — |  |  | 3,291.0 |
Gross profit | — |  |  | — |  |  | 577.2 |  |  | 65.0 |  |  | — |  |  | — |  |  | 642.2 |
Selling and administrative expenses | — |  |  | 31.8 |  |  | 271.8 |  |  | 48.3 |  |  | — |  |  | — |  |  | 351.9 |
Advertising expense | — |  |  | — |  |  | 43.8 |  |  | 2.5 |  |  | — |  |  | — |  |  | 46.3 |
Income (loss) from operations | — |  |  | (31.8 | ) |  | 261.6 |  |  | 14.2 |  |  | — |  |  | — |  |  | 244.0 |
Interest (expense) income, net | — |  |  | (37.3 | ) |  | 1.0 |  |  | (1.5 | ) |  | — |  |  | — |  |  | (37.8 | )
Other income (expense) | — |  |  | (0.2 | ) |  | 0.3 |  |  | 0.6 |  |  | — |  |  | — |  |  | 0.7 |
Income (loss) before income taxes | — |  |  | (69.3 | ) |  | 262.9 |  |  | 13.3 |  |  | — |  |  | — |  |  | 206.9 |
Income tax (expense) benefit | — |  |  | 26.2 |  |  | (100.5 | ) |  | (3.3 | ) |  | — |  |  | — |  |  | (77.6 | )
Income (loss) before equity in earnings of subsidiaries | — |  |  | (43.1 | ) |  | 162.4 |  |  | 10.0 |  |  | — |  |  | — |  |  | 129.3 |
Equity in earnings of subsidiaries | 129.3 |  |  | 172.4 |  |  | — |  |  | — |  |  | — |  |  | (301.7 | ) |  | — |
Net income | $ | 129.3 |  |  | $ | 129.3 |  |  | $ | 162.4 |  |  | $ | 10.0 |  |  | $ | — |  |  | $ | (301.7 | ) |  | $ | 129.3 |
Consolidating Statement of Operations
Nine Months Ended September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 10,743.7 |  |  | $ | 1,422.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,165.7 |
Cost of sales | — |  |  | — |  |  | 8,966.6 |  |  | 1,186.0 |  |  | — |  |  | — |  |  | 10,152.6 |
Gross profit | — |  |  | — |  |  | 1,777.1 |  |  | 236.0 |  |  | — |  |  | — |  |  | 2,013.1 |
Selling and administrative expenses | — |  |  | 103.3 |  |  | 861.8 |  |  | 169.7 |  |  | — |  |  | — |  |  | 1,134.8 |
Advertising expense | — |  |  | — |  |  | 128.3 |  |  | 5.6 |  |  | — |  |  | — |  |  | 133.9 |
Income (loss) from operations | — |  |  | (103.3 | ) |  | 787.0 |  |  | 60.7 |  |  | — |  |  | — |  |  | 744.4 |
Interest (expense) income, net | — |  |  | (109.9 | ) |  | 2.8 |  |  | (4.4 | ) |  | — |  |  | — |  |  | (111.5 | )
Other income | — |  |  | — |  |  | 0.6 |  |  | 0.4 |  |  | — |  |  | — |  |  | 1.0 |
Income (loss) before income taxes | — |  |  | (213.2 | ) |  | 790.4 |  |  | 56.7 |  |  | — |  |  | — |  |  | 633.9 |
Income tax (expense) benefit | (0.3 | ) |  | 61.5 |  |  | (202.6 | ) |  | (8.8 | ) |  | — |  |  | — |  |  | (150.2 | )
Income (loss) before equity in earnings of subsidiaries | (0.3 | ) |  | (151.7 | ) |  | 587.8 |  |  | 47.9 |  |  | — |  |  | — |  |  | 483.7 |
Equity in earnings of subsidiaries | 484.0 |  |  | 635.7 |  |  | — |  |  | — |  |  | — |  |  | (1,119.7 | ) |  | — |
Net income | $ | 483.7 |  |  | $ | 484.0 |  |  | $ | 587.8 |  |  | $ | 47.9 |  |  | $ | — |  |  | $ | (1,119.7 | ) |  | $ | 483.7 |
Consolidating Statement of Operations
Nine Months Ended September 30, 2017
(as adjusted)
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net sales | $ | — |  |  | $ | — |  |  | $ | 9,966.3 |  |  | $ | 1,114.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,080.8 |
Cost of sales | — |  |  | — |  |  | 8,315.4 |  |  | 928.9 |  |  | — |  |  | — |  |  | 9,244.3 |
Gross profit | — |  |  | — |  |  | 1,650.9 |  |  | 185.6 |  |  | — |  |  | — |  |  | 1,836.5 |
Selling and administrative expenses | — |  |  | 95.8 |  |  | 826.4 |  |  | 140.6 |  |  | — |  |  | — |  |  | 1,062.8 |
Advertising expense | — |  |  | — |  |  | 122.6 |  |  | 5.5 |  |  | — |  |  | — |  |  | 128.1 |
Income (loss) from operations | — |  |  | (95.8 | ) |  | 701.9 |  |  | 39.5 |  |  | — |  |  | — |  |  | 645.6 |
Interest (expense) income, net | — |  |  | (111.8 | ) |  | 3.1 |  |  | (4.7 | ) |  | — |  |  | — |  |  | (113.4 | )
Net loss on extinguishments of long-term debt | — |  |  | (57.4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (57.4 | )
Other income | — |  |  | — |  |  | 0.4 |  |  | 1.5 |  |  | — |  |  | — |  |  | 1.9 |
Income (loss) before income taxes | — |  |  | (265.0 | ) |  | 705.4 |  |  | 36.3 |  |  | — |  |  | — |  |  | 476.7 |
Income tax (expense) benefit | — |  |  | 112.8 |  |  | (251.8 | ) |  | (9.4 | ) |  | — |  |  | — |  |  | (148.4 | )
Income (loss) before equity in earnings of subsidiaries | — |  |  | (152.2 | ) |  | 453.6 |  |  | 26.9 |  |  | — |  |  | — |  |  | 328.3 |
Equity in earnings of subsidiaries | 328.3 |  |  | 480.5 |  |  | — |  |  | — |  |  | — |  |  | (808.8 | ) |  | — |
Net income | $ | 328.3 |  |  | $ | 328.3 |  |  | $ | 453.6 |  |  | $ | 26.9 |  |  | $ | — |  |  | $ | (808.8 | ) |  | $ | 328.3 |
Condensed Statement of Comprehensive Income |
Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 180.6 |  |  | $ | 180.7 |  |  | $ | 215.0 |  |  | $ | 14.9 |  |  | $ | — |  |  | $ | (410.6 | ) |  | $ | 180.6 |
Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2017
(as adjusted)
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 143.6 |  |  | $ | 143.6 |  |  | $ | 162.4 |  |  | $ | 24.0 |  |  | $ | — |  |  | $ | (330.0 | ) |  | $ | 143.6 |
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 471.4 |  |  | $ | 471.7 |  |  | $ | 587.8 |  |  | $ | 30.0 |  |  | $ | — |  |  | $ | (1,089.5 | ) |  | $ | 471.4 |
Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2017
(as adjusted)
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Comprehensive income | $ | 366.4 |  |  | $ | 366.4 |  |  | $ | 453.6 |  |  | $ | 66.4 |  |  | $ | — |  |  | $ | (886.4 | ) |  | $ | 366.4 |
Condensed Consolidating Statements Cash Flows |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2018
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash provided by (used in) operating activities | $ | — |  |  | $ | (78.9 | ) |  | $ | 608.4 |  |  | $ | 80.2 |  |  | $ | — |  |  | $ | (7.4 | ) |  | $ | 602.3 |
Cash flows used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (40.9 | ) |  | (3.5 | ) |  | (9.0 | ) |  | — |  |  | — |  |  | (53.4 | )
Net cash used in investing activities | — |  |  | (40.9 | ) |  | (3.5 | ) |  | (9.0 | ) |  | — |  |  | — |  |  | (53.4 | )
Cash flows (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facilities | — |  |  | 640.0 |  |  | — |  |  | 48.9 |  |  | — |  |  | — |  |  | 688.9 |
Repayments of borrowings under revolving credit facilities | — |  |  | (640.0 | ) |  | — |  |  | (41.9 | ) |  | — |  |  | — |  |  | (681.9 | )
Repayments of long-term debt | — |  |  | (11.2 | ) |  | — |  |  | (7.0 | ) |  | — |  |  | — |  |  | (18.2 | )
Payments of debt financing costs | — |  |  | (1.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (1.0 | )
Net change in accounts payable-inventory financing | — |  |  | (0.8 | ) |  | (85.8 | ) |  | (3.5 | ) |  | — |  |  | — |  |  | (90.1 | )
Premium payments on interest rate cap agreements | — |  |  | (12.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (12.6 | )
Proceeds from stock option exercises | — |  |  | 24.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24.4 |
Proceeds from Coworker Stock Purchase Plan | — |  |  | 8.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8.4 |
Repurchases of common stock | (232.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (232.5 | )
Payment of incentive compensation plan withholding taxes | (27.1 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (27.1 | )
Dividends | (95.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (95.5 | )
Repayment of intercompany loan | — |  |  | — |  |  | 47.5 |  |  | (47.5 | ) |  | — |  |  | — |  |  | — |
Other | — |  |  | 6.6 |  |  | (4.3 | ) |  | (0.4 | ) |  | — |  |  | — |  |  | 1.9 |
Distributions and advances from (to) affiliates | 355.1 |  |  | 213.2 |  |  | (562.3 | ) |  | — |  |  | — |  |  | (6.0 | ) |  | — |
Net cash (used in) provided by financing activities | — |  |  | 227.0 |  |  | (604.9 | ) |  | (51.4 | ) |  | — |  |  | (6.0 | ) |  | (435.3 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (2.7 | ) |  | — |  |  | — |  |  | (2.7 | )
Net increase in cash and cash equivalents | — |  |  | 107.2 |  |  | — |  |  | 17.1 |  |  | — |  |  | (13.4 | ) |  | 110.9 |
Cash and cash equivalents—beginning of period | — |  |  | 113.7 |  |  | — |  |  | 32.4 |  |  | — |  |  | (1.9 | ) |  | 144.2 |
Cash and cash equivalents—end of period | $ | — |  |  | $ | 220.9 |  |  | $ | — |  |  | $ | 49.5 |  |  | $ | — |  |  | $ | (15.3 | ) |  | $ | 255.1 |
Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2017
(as adjusted)
(in millions) | Parent Guarantor |  | Subsidiary Issuer |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Co-Issuer |  | Consolidating Adjustments |  | Consolidated
Net cash provided by (used in) operating activities | $ | 42.4 |  |  | $ | (17.7 | ) |  | $ | 422.4 |  |  | $ | 14.0 |  |  | $ | — |  |  | $ | (22.0 | ) |  | $ | 439.1 |
Cash flows used in investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | — |  |  | (40.0 | ) |  | (4.8 | ) |  | (13.8 | ) |  | — |  |  | — |  |  | (58.6 | )
Net cash used in investing activities | — |  |  | (40.0 | ) |  | (4.8 | ) |  | (13.8 | ) |  | — |  |  | — |  |  | (58.6 | )
Cash flows (used in) provided by financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under revolving credit facilities | — |  |  | 1,233.3 |  |  | — |  |  | 45.8 |  |  | — |  |  | — |  |  | 1,279.1 |
Repayments of borrowings under revolving credit facilities | — |  |  | (1,057.0 | ) |  | — |  |  | (30.5 | ) |  | — |  |  | — |  |  | (1,087.5 | )
Repayments of long-term debt | — |  |  | (11.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (11.2 | )
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 | )
Payment of debt financing costs | — |  |  | (9.6 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9.6 | )
Net change in accounts payable-inventory financing | — |  |  | (1.2 | ) |  | (52.9 | ) |  | 12.7 |  |  | — |  |  | — |  |  | (41.4 | )
Proceeds from stock option exercises | — |  |  | 9.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 9.1 |
Proceeds from Coworker Stock Purchase Plan | — |  |  | 7.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7.6 |
Repurchases of common stock | (534.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (534.0 | )
Payment of incentive compensation plan withholding taxes | — |  |  | (16.0 | ) |  | (24.0 | ) |  | (2.0 | ) |  | — |  |  | — |  |  | (42.0 | )
Dividends | (74.7 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (74.7 | )
Repayment of intercompany loan | — |  |  | — |  |  | 34.3 |  |  | (34.3 | ) |  | — |  |  | — |  |  | — |
Other | — |  |  | 0.2 |  |  | (4.1 | ) |  | (0.8 | ) |  | — |  |  | — |  |  | (4.7 | )
Distributions and advances from (to) affiliates | 566.3 |  |  | (202.6 | ) |  | (374.0 | ) |  | — |  |  | — |  |  | 10.3 |  |  | — |
Net cash used in financing activities | (42.4 | ) |  | (85.7 | ) |  | (420.7 | ) |  | (9.1 | ) |  | — |  |  | 10.3 |  |  | (547.6 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | 1.3 |  |  | — |  |  | — |  |  | 1.3 |
Net decrease in cash and cash equivalents | — |  |  | (143.4 | ) |  | (3.1 | ) |  | (7.6 | ) |  | — |  |  | (11.7 | ) |  | (165.8 | )
Cash and cash equivalents—beginning of period | — |  |  | 222.7 |  |  | 3.1 |  |  | 37.9 |  |  | — |  |  | — |  |  | 263.7 |
Cash and cash equivalents—end of period | $ | — |  |  | $ | 79.3 |  |  | $ | — |  |  | $ | 30.3 |  |  | $ | — |  |  | $ | (11.7 | ) |  | $ | 97.9 |

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