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Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed consolidating balance sheets | Condensed Consolidating Balance Sheets As of December 31, 2016 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.2 |  |  | $ | 17.1 |  |  | $ | 31.9 |  |  | $ | — |  |  | $ | 50.2 |
Accounts and notes receivable, net | — |  |  | 30.6 |  |  | 439.2 |  |  | — |  |  | 469.8 |
Inventories, net | — |  |  | 314.7 |  |  | 108.9 |  |  | (5.1 | ) |  | 418.5 |
Other assets | 12.8 |  |  | 48.8 |  |  | 67.5 |  |  | (61.7 | ) |  | 67.4 |
Total current assets | 14.0 |  |  | 411.2 |  |  | 647.5 |  |  | (66.8 | ) |  | 1,005.9 |
Property, plant and equipment, net | — |  |  | 237.6 |  |  | 123.8 |  |  | — |  |  | 361.4 |
Goodwill | — |  |  | 134.9 |  |  | 60.2 |  |  | — |  |  | 195.1 |
Investment in subsidiaries | 1,166.9 |  |  | 524.7 |  |  | (0.5 | ) |  | (1,691.1 | ) |  | — |
Deferred income taxes | 6.8 |  |  | 113.5 |  |  | 31.1 |  |  | (14.7 | ) |  | 136.7 |
Other assets, net | 3.6 |  |  | 40.0 |  |  | 19.0 |  |  | (1.4 | ) |  | 61.2 |
Intercompany receivables (payables), net | (382.4 | ) |  | 375.2 |  |  | 80.4 |  |  | (73.2 | ) |  | — |
Total assets | $ | 808.9 |  |  | $ | 1,837.1 |  |  | $ | 961.5 |  |  | $ | (1,847.2 | ) |  | $ | 1,760.3 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 52.4 |  |  | $ | — |  |  | $ | 52.4 |
Current maturities of long-term debt | 199.3 |  |  | 0.4 |  |  | 0.4 |  |  | — |  |  | 200.1 |
Accounts payable | 18.5 |  |  | 248.5 |  |  | 94.2 |  |  | — |  |  | 361.2 |
Accrued expenses | 6.3 |  |  | 206.3 |  |  | 53.3 |  |  | — |  |  | 265.9 |
Income taxes payable | (54.0 | ) |  | 89.8 |  |  | 52.5 |  |  | (79.3 | ) |  | 9.0 |
Total current liabilities | 170.1 |  |  | 545.0 |  |  | 252.8 |  |  | (79.3 | ) |  | 888.6 |
Long-term debt | 600.9 |  |  | 14.5 |  |  | 0.3 |  |  | — |  |  | 615.7 |
Post-retirement benefits, other than pensions | — |  |  | 2.8 |  |  | — |  |  | — |  |  | 2.8 |
Pensions | — |  |  | 75.5 |  |  | 12.0 |  |  | — |  |  | 87.5 |
Other liabilities | — |  |  | 119.1 |  |  | 11.1 |  |  | (2.5 | ) |  | 127.7 |
Total liabilities | 771.0 |  |  | 756.9 |  |  | 276.2 |  |  | (81.8 | ) |  | 1,722.3 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders' equity | 37.9 |  |  | 1,080.2 |  |  | 685.3 |  |  | (1,765.4 | ) |  | 38.0 |
Total liabilities and stockholders' equity | $ | 808.9 |  |  | $ | 1,837.1 |  |  | $ | 961.5 |  |  | $ | (1,847.2 | ) |  | $ | 1,760.3 |
Condensed Consolidating Balance Sheets As of December 31, 2015 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.5 |  |  | $ | 7.8 |  |  | $ | 30.6 |  |  | $ | — |  |  | $ | 38.9 |
Accounts and notes receivable, net | — |  |  | 25.9 |  |  | 396.9 |  |  | — |  |  | 422.8 |
Inventories, net | — |  |  | 324.3 |  |  | 98.9 |  |  | (4.4 | ) |  | 418.8 |
Other assets | 3.3 |  |  | 46.9 |  |  | 67.4 |  |  | (59.9 | ) |  | 57.7 |
Total current assets | 3.8 |  |  | 404.9 |  |  | 593.8 |  |  | (64.3 | ) |  | 938.2 |
Property, plant and equipment, net | — |  |  | 261.8 |  |  | 77.8 |  |  | — |  |  | 339.6 |
Goodwill | — |  |  | 134.9 |  |  | 60.2 |  |  | — |  |  | 195.1 |
Investment in subsidiaries | 879.0 |  |  | 337.6 |  |  | (0.6 | ) |  | (1,216.0 | ) |  | — |
Deferred income taxes | 5.4 |  |  | 126.6 |  |  | 28.4 |  |  | (14.7 | ) |  | 145.7 |
Other assets, net | 1.5 |  |  | 38.2 |  |  | 20.6 |  |  | (1.5 | ) |  | 58.8 |
Intercompany receivables (payables), net | (278.6 | ) |  | 253.3 |  |  | 25.3 |  |  | — |  |  | — |
Total assets | $ | 611.1 |  |  | $ | 1,557.3 |  |  | $ | 805.5 |  |  | $ | (1,296.5 | ) |  | $ | 1,677.4 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 204.1 |  |  | $ | — |  |  | $ | 204.1 |
Current maturities of long-term debt | 29.8 |  |  | 0.8 |  |  | 0.4 |  |  | — |  |  | 31.0 |
Accounts payable | 16.1 |  |  | 237.9 |  |  | 66.1 |  |  | — |  |  | 320.1 |
Accrued expenses | 15.8 |  |  | 176.7 |  |  | 50.1 |  |  | — |  |  | 242.6 |
Income taxes payable | (43.0 | ) |  | 106.6 |  |  | 37.9 |  |  | (75.5 | ) |  | 26.0 |
Total current liabilities | 18.7 |  |  | 522.0 |  |  | 358.6 |  |  | (75.5 | ) |  | 823.8 |
Long-term debt | 490.4 |  |  | 15.1 |  |  | 0.5 |  |  | — |  |  | 506.0 |
Post-retirement benefits, other than pensions | — |  |  | 4.1 |  |  | — |  |  | — |  |  | 4.1 |
Pensions | — |  |  | 111.9 |  |  | 8.9 |  |  | — |  |  | 120.8 |
Other liabilities | 0.4 |  |  | 114.4 |  |  | 10.5 |  |  | (4.2 | ) |  | 121.1 |
Total liabilities | 509.5 |  |  | 767.5 |  |  | 378.5 |  |  | (79.7 | ) |  | 1,575.8 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders' equity | 101.6 |  |  | 789.8 |  |  | 427.0 |  |  | (1,216.8 | ) |  | 101.6 |
Total liabilities and stockholders' equity | $ | 611.1 |  |  | $ | 1,557.3 |  |  | $ | 805.5 |  |  | $ | (1,296.5 | ) |  | $ | 1,677.4 |
Condensed consolidating statements of operations and comprehensive income | Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2016 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 3,117.6 |  |  | $ | 728.0 |  |  | $ | (204.0 | ) |  | $ | 3,641.6 |
Cost of goods sold | — |  |  | 2,203.8 |  |  | 564.5 |  |  | (203.2 | ) |  | 2,565.1 |
Gross profit | — |  |  | 913.8 |  |  | 163.5 |  |  | (0.8 | ) |  | 1,076.5 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 524.3 |  |  | 96.7 |  |  | — |  |  | 621.0 |
Losses and other expenses, net | (3.3 | ) |  | 9.7 |  |  | 5.1 |  |  | (0.2 | ) |  | 11.3 |
Restructuring charges | — |  |  | 1.9 |  |  | (0.1 | ) |  | — |  |  | 1.8 |
Goodwill impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Asset impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension settlement | — |  |  | 30.5 |  |  | 0.9 |  |  | — |  |  | 31.4 |
Income from equity method investments | (292.4 | ) |  | (40.7 | ) |  | (14.4 | ) |  | 329.1 |  |  | (18.4 | )
Operational income | 295.7 |  |  | 388.1 |  |  | 75.3 |  |  | (329.7 | ) |  | 429.4 |
Interest expense, net | 24.4 |  |  | (2.2 | ) |  | 4.8 |  |  | — |  |  | 27.0 |
Other expense, net | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Income from continuing operations before income taxes | 271.3 |  |  | 390.3 |  |  | 70.8 |  |  | (329.7 | ) |  | 402.7 |
Provision for income taxes | (6.5 | ) |  | 108.2 |  |  | 22.6 |  |  | (0.2 | ) |  | 124.1 |
Income from continuing operations | 277.8 |  |  | 282.1 |  |  | 48.2 |  |  | (329.5 | ) |  | 278.6 |
Loss from discontinued operations | — |  |  | — |  |  | (0.8 | ) |  | — |  |  | (0.8 | )
Net income | $ | 277.8 |  |  | $ | 282.1 |  |  | $ | 47.4 |  |  | $ | (329.5 | ) |  | $ | 277.8 |
Other comprehensive income (loss) | $ | 14.0 |  |  | $ | 8.5 |  |  | $ | (14.2 | ) |  | $ | 1.3 |  |  | $ | 9.6 |
Comprehensive Income | $ | 291.8 |  |  | $ | 290.6 |  |  | $ | 33.2 |  |  | $ | (328.2 | ) |  | $ | 287.4 |
Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2015 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 2,950.6 |  |  | $ | 701.8 |  |  | $ | (185.0 | ) |  | $ | 3,467.4 |
Cost of goods sold | — |  |  | 2,150.9 |  |  | 556.4 |  |  | (187.3 | ) |  | 2,520.0 |
Gross profit | — |  |  | 799.7 |  |  | 145.4 |  |  | 2.3 |  |  | 947.4 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 485.6 |  |  | 94.9 |  |  | — |  |  | 580.5 |
Losses (gains) and other expenses, net | 0.7 |  |  | 13.7 |  |  | 7.5 |  |  | (0.2 | ) |  | 21.7 |
Restructuring charges | — |  |  | (0.5 | ) |  | 3.7 |  |  | — |  |  | 3.2 |
Goodwill Impairment | — |  |  | 5.5 |  |  | — |  |  | — |  |  | 5.5 |
Asset Impairment | — |  |  | 44.5 |  |  | — |  |  | — |  |  | 44.5 |
Pension settlement | — |  |  | — |  |  | — |  |  | — |  |  | — |
(Income) loss from equity method investments | (201.8 | ) |  | (5.9 | ) |  | (10.5 | ) |  | 204.8 |  |  | (13.4 | )
Operational income | 201.1 |  |  | 256.8 |  |  | 49.8 |  |  | (202.3 | ) |  | 305.4 |
Interest expense, net | 22.4 |  |  | (2.0 | ) |  | 3.2 |  |  | — |  |  | 23.6 |
Other expense, net | — |  |  | — |  |  | (0.8 | ) |  | — |  |  | (0.8 | )
Income from continuing operations before income taxes | 178.7 |  |  | 258.8 |  |  | 47.4 |  |  | (202.3 | ) |  | 282.6 |
Provision for income taxes | (7.8 | ) |  | 87.9 |  |  | 14.3 |  |  | 1.0 |  |  | 95.4 |
Income from continuing operations | 186.5 |  |  | 170.9 |  |  | 33.1 |  |  | (203.3 | ) |  | 187.2 |
Loss from discontinued operations | — |  |  | — |  |  | (0.6 | ) |  | — |  |  | (0.6 | )
Net income | $ | 186.5 |  |  | $ | 170.9 |  |  | $ | 32.5 |  |  | $ | (203.3 | ) |  | $ | 186.6 |
Other comprehensive income (loss) | $ | (3.5 | ) |  | $ | (3.3 | ) |  | $ | (40.4 | ) |  | $ | (4.0 | ) |  | $ | (51.2 | )
Comprehensive income | $ | 183.0 |  |  | $ | 167.6 |  |  | $ | (7.9 | ) |  | $ | (207.3 | ) |  | $ | 135.4 |
Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2014 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 2,775.7 |  |  | $ | 818.0 |  |  | $ | (226.3 | ) |  | $ | 3,367.4 |
Cost of goods sold | — |  |  | 2,057.8 |  |  | 628.3 |  |  | (222.0 | ) |  | 2,464.1 |
Gross profit | — |  |  | 717.9 |  |  | 189.7 |  |  | (4.3 | ) |  | 903.3 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 454.5 |  |  | 119.2 |  |  | — |  |  | 573.7 |
Losses and other expenses, net | — |  |  | 3.2 |  |  | 3.6 |  |  | — |  |  | 6.8 |
Restructuring charges | — |  |  | 0.4 |  |  | 1.5 |  |  | — |  |  | 1.9 |
Goodwill impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Asset impairment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Pension settlement | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income from equity method investments | (216.4 | ) |  | (25.4 | ) |  | (11.3 | ) |  | 239.3 |  |  | (13.8 | )
Operational income | 216.4 |  |  | 285.2 |  |  | 76.7 |  |  | (243.6 | ) |  | 334.7 |
Interest expense, net | 16.0 |  |  | (3.0 | ) |  | 4.2 |  |  | — |  |  | 17.2 |
Other expense, net | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Income from continuing operations before income taxes | 200.4 |  |  | 288.2 |  |  | 72.6 |  |  | (243.6 | ) |  | 317.6 |
Provision for income taxes | (5.6 | ) |  | 91.7 |  |  | 24.9 |  |  | (1.5 | ) |  | 109.5 |
Income from continuing operations | 206.0 |  |  | 196.5 |  |  | 47.7 |  |  | (242.1 | ) |  | 208.1 |
Loss from discontinued operations | — |  |  | — |  |  | (2.3 | ) |  | — |  |  | (2.3 | )
Net income | $ | 206.0 |  |  | $ | 196.5 |  |  | $ | 45.4 |  |  | $ | (242.1 | ) |  | $ | 205.8 |
Other comprehensive income (loss) | $ | (4.1 | ) |  | $ | (51.2 | ) |  | $ | (34.8 | ) |  | $ | (2.3 | ) |  | $ | (92.4 | )
Comprehensive Income | $ | 201.9 |  |  | $ | 145.3 |  |  | $ | 10.6 |  |  | $ | (244.4 | ) |  | $ | 113.4 |
Condensed consolidating statements of cash flows | Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2016 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | (1.6 | ) |  | $ | 218.5 |  |  | $ | 137.6 |  |  | $ | — |  |  | $ | 354.5 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Purchases of property, plant and equipment | — |  |  | (71.5 | ) |  | (12.8 | ) |  | — |  |  | (84.3 | )
Net cash used in investing activities | — |  |  | (71.5 | ) |  | (12.6 | ) |  | — |  |  | (84.1 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
Asset securitization borrowings | — |  |  | — |  |  | 145.0 |  |  | — |  |  | 145.0 |
Asset securitization payments | — |  |  | — |  |  | (295.0 | ) |  | — |  |  | (295.0 | )
Long-term debt borrowings | 350.0 |  |  | — |  |  | — |  |  | — |  |  | 350.0 |
Borrowings from credit facility | 2,336.5 |  |  | — |  |  | — |  |  | — |  |  | 2,336.5 |
Long-term debt payments | (57.5 | ) |  | (0.9 | ) |  | (0.4 | ) |  | — |  |  | (58.8 | )
Payments on credit facility | (2,346.0 | ) |  | — |  |  | — |  |  | — |  |  | (2,346.0 | )
Payments of deferred financing costs | (4.2 | ) |  | — |  |  | — |  |  | — |  |  | (4.2 | )
Proceeds from employee stock purchases | 2.6 |  |  | — |  |  | — |  |  | — |  |  | 2.6 |
Repurchases of common stock to satisfy employee withholding tax obligations | (33.3 | ) |  | — |  |  | — |  |  | — |  |  | (33.3 | )
Repurchases of common stock | (300.0 | ) |  | — |  |  | — |  |  | — |  |  | (300.0 | )
Excess tax benefits related to share-based payments | 19.4 |  |  | — |  |  | — |  |  | — |  |  | 19.4 |
Intercompany debt | 30.0 |  |  | (65.8 | ) |  | 35.8 |  |  | — |  |  | — |
Intercompany financing activity | 73.8 |  |  | (71.0 | ) |  | (2.8 | ) |  | — |  |  | — |
Cash dividends paid | (69.0 | ) |  | — |  |  | — |  |  | — |  |  | (69.0 | )
Net cash provided by (used in) financing activities | 2.3 |  |  | (137.7 | ) |  | (119.8 | ) |  | — |  |  | (255.2 | )
Increase (decrease) in cash and cash equivalents | 0.7 |  |  | 9.3 |  |  | 5.2 |  |  | — |  |  | 15.2 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | (3.9 | ) |  | — |  |  | (3.9 | )
Cash and cash equivalents, beginning of year | 0.5 |  |  | 7.8 |  |  | 30.6 |  |  | — |  |  | 38.9 |
Cash and cash equivalents, end of year | $ | 1.2 |  |  | $ | 17.1 |  |  | $ | 31.9 |  |  | $ | — |  |  | $ | 50.2 |
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2015 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | 226.9 |  |  | $ | 49.3 |  |  | $ | 55.0 |  |  | $ | — |  |  | $ | 331.2 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Purchases of property, plant and equipment | — |  |  | (60.2 | ) |  | (9.7 | ) |  | — |  |  | (69.9 | )
Net cash used in investing activities | — |  |  | (60.1 | ) |  | (9.7 | ) |  | — |  |  | (69.8 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (1.7 | ) |  | — |  |  | (1.7 | )
Asset securitization borrowings | — |  |  | — |  |  | 40.0 |  |  | — |  |  | 40.0 |
Asset securitization payments | — |  |  | — |  |  | (60.0 | ) |  | — |  |  | (60.0 | )
Long-term debt borrowings | — |  |  | — |  |  | — |  |  | — |  |  | — |
Borrowings from credit facility | 1,671.0 |  |  | — |  |  | — |  |  | — |  |  | 1,671.0 |
Long-term debt payments | (22.5 | ) |  | (1.2 | ) |  | (0.3 | ) |  | — |  |  | (24.0 | )
Payments on credit facility | (1,807.5 | ) |  | — |  |  | — |  |  | — |  |  | (1,807.5 | )
Payments of deferred financing costs | — |  |  | — |  |  | — |  |  | — |  |  | — |
Proceeds from employee stock purchases | 2.4 |  |  | — |  |  | — |  |  | — |  |  | 2.4 |
Repurchases of common stock to satisfy employee withholding tax obligations | (32.0 | ) |  | — |  |  | — |  |  | — |  |  | (32.0 | )
Repurchases of common stock | — |  |  | — |  |  | — |  |  | — |  |  | — |
Excess tax benefits related to share-based payments | 22.4 |  |  | — |  |  | — |  |  | — |  |  | 22.4 |
Intercompany debt | (9.4 | ) |  | 7.1 |  |  | 2.3 |  |  | — |  |  | — |
Intercompany financing activity | 7.5 |  |  | 1.2 |  |  | (8.7 | ) |  | — |  |  | — |
Cash dividends paid | (59.3 | ) |  | — |  |  | — |  |  | — |  |  | (59.3 | )
Net cash provided by (used in) financing activities | (227.4 | ) |  | 7.1 |  |  | (28.4 | ) |  | — |  |  | (248.7 | )
Increase (decrease) in cash and cash equivalents | (0.5 | ) |  | (3.7 | ) |  | 16.9 |  |  | — |  |  | 12.7 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | (11.3 | ) |  | — |  |  | (11.3 | )
Cash and cash equivalents, beginning of year | 1.0 |  |  | 11.5 |  |  | 25.0 |  |  | — |  |  | 37.5 |
Cash and cash equivalents, end of year | $ | 0.5 |  |  | $ | 7.8 |  |  | $ | 30.6 |  |  | $ | — |  |  | $ | 38.9 |
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2014 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | 328.8 |  |  | $ | (97.2 | ) |  | $ | (46.8 | ) |  | $ | — |  |  | $ | 184.8 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | 1.0 |  |  | 0.1 |  |  | — |  |  | 1.1 |
Purchases of property, plant and equipment | — |  |  | (70.5 | ) |  | (17.9 | ) |  | — |  |  | (88.4 | )
Net cash used in investing activities | — |  |  | (69.5 | ) |  | (17.8 | ) |  | — |  |  | (87.3 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | 1.5 |  |  | — |  |  | 1.5 |
Asset securitization borrowings | — |  |  | — |  |  | 100.0 |  |  | — |  |  | 100.0 |
Asset securitization payments | — |  |  | — |  |  | (40.0 | ) |  | — |  |  | (40.0 | )
Long-term debt borrowings | 300.0 |  |  | — |  |  | — |  |  | — |  |  | 300.0 |
Borrowings from revolving credit facility | 2,073.5 |  |  | — |  |  | — |  |  | — |  |  | 2,073.5 |
Long-term debt payments | — |  |  | (1.9 | ) |  | (0.4 | ) |  | — |  |  | (2.3 | )
Payments on revolving credit facility | (1,908.5 | ) |  | — |  |  | — |  |  | — |  |  | (1,908.5 | )
Payments of deferred financing costs | (2.2 | ) |  | — |  |  | — |  |  | — |  |  | (2.2 | )
Proceeds from employee stock purchases | 2.0 |  |  | — |  |  | — |  |  | — |  |  | 2.0 |
Repurchases of common stock to satisfy employee withholding tax obligations | (22.4 | ) |  | — |  |  | — |  |  | — |  |  | (22.4 | )
Repurchases of common stock | (550.3 | ) |  | — |  |  | — |  |  | — |  |  | (550.3 | )
Excess tax benefits related to share-based payments | 11.8 |  |  | — |  |  | — |  |  | — |  |  | 11.8 |
Intercompany debt | (0.1 | ) |  | 4.7 |  |  | (4.6 | ) |  | — |  |  | — |
Intercompany financing activity | (180.1 | ) |  | 164.9 |  |  | 15.2 |  |  | — |  |  | — |
Cash dividends paid | (52.6 | ) |  | — |  |  | — |  |  | — |  |  | (52.6 | )
Net cash provided by (used in) financing activities | (328.9 | ) |  | 167.7 |  |  | 71.7 |  |  | — |  |  | (89.5 | )
Decrease in cash and cash equivalents | (0.1 | ) |  | 1.0 |  |  | 7.1 |  |  | — |  |  | 8.0 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | (8.5 | ) |  | — |  |  | (8.5 | )
Cash and cash equivalents, beginning of year | 1.1 |  |  | 10.5 |  |  | 26.4 |  |  | — |  |  | 38.0 |
Cash and cash equivalents, end of year | $ | 1.0 |  |  | $ | 11.5 |  |  | $ | 25.0 |  |  | $ | — |  |  | $ | 37.5 |

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