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Condensed Consolidating Financial Statements (Tables) | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Balance Sheets | Lennox International Inc. and Subsidiaries Condensed Consolidating Balance Sheets As of March 31, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.5 |  |  | $ | 14.0 |  |  | $ | 33.3 |  |  | $ | — |  |  | $ | 48.8 |
Accounts and notes receivable, net | — |  |  | 45.4 |  |  | 468.0 |  |  | — |  |  | 513.4 |
Inventories, net | — |  |  | 406.8 |  |  | 127.3 |  |  | (11.3 | ) |  | 522.8 |
Other assets | 16.1 |  |  | 50.9 |  |  | 89.4 |  |  | (55.0 | ) |  | 101.4 |
Total current assets | 17.6 |  |  | 517.1 |  |  | 718.0 |  |  | (66.3 | ) |  | 1,186.4 |
Property, plant and equipment, net | — |  |  | 238.9 |  |  | 131.4 |  |  | (4.7 | ) |  | 365.6 |
Goodwill | — |  |  | 134.9 |  |  | 62.7 |  |  | — |  |  | 197.6 |
Investment in subsidiaries | 961.7 |  |  | 427.3 |  |  | (0.6 | ) |  | (1,388.4 | ) |  | — |
Deferred income taxes | 8.1 |  |  | 109.3 |  |  | 31.3 |  |  | (14.7 | ) |  | 134.0 |
Other assets, net | 2.4 |  |  | 41.2 |  |  | 24.9 |  |  | (1.5 | ) |  | 67.0 |
Intercompany receivables (payables), net | (62.1 | ) |  | 62.4 |  |  | 72.9 |  |  | (73.2 | ) |  | — |
Total assets | $ | 927.7 |  |  | $ | 1,531.1 |  |  | $ | 1,040.6 |  |  | $ | (1,548.8 | ) |  | $ | 1,950.6 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 201.6 |  |  | $ | — |  |  | $ | 201.6 |
Current maturities of long-term debt | 206.9 |  |  | 0.4 |  |  | 0.3 |  |  | — |  |  | 207.6 |
Accounts payable | 18.4 |  |  | 270.8 |  |  | 111.8 |  |  | — |  |  | 401.0 |
Accrued expenses | 11.0 |  |  | 163.4 |  |  | 50.4 |  |  | — |  |  | 224.8 |
Income taxes payable | 12.3 |  |  | 5.5 |  |  | 64.9 |  |  | (80.2 | ) |  | 2.5 |
Total current liabilities | 248.6 |  |  | 440.1 |  |  | 429.0 |  |  | (80.2 | ) |  | 1,037.5 |
Long-term debt | 679.2 |  |  | 14.4 |  |  | 0.3 |  |  | — |  |  | 693.9 |
Post-retirement benefits, other than pensions | — |  |  | 2.4 |  |  | — |  |  | — |  |  | 2.4 |
Pensions | — |  |  | 76.4 |  |  | 11.9 |  |  | — |  |  | 88.3 |
Other liabilities | 0.9 |  |  | 120.2 |  |  | 10.9 |  |  | (2.5 | ) |  | 129.5 |
Total liabilities | 928.7 |  |  | 653.5 |  |  | 452.1 |  |  | (82.7 | ) |  | 1,951.6 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders' equity | (1.0 | ) |  | 877.6 |  |  | 588.5 |  |  | (1,466.1 | ) |  | (1.0 | )
Total liabilities and stockholders' equity | $ | 927.7 |  |  | $ | 1,531.1 |  |  | $ | 1,040.6 |  |  | $ | (1,548.8 | ) |  | $ | 1,950.6 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Balance Sheets As of December 31, 2016
(Amounts 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 (payables) receivables, 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 (receivable) 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 Statements of Operations and Comprehensive Income | Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Three Months Ended March 31, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 686.3 |  |  | $ | 258.8 |  |  | $ | (151.7 | ) |  | $ | 793.4 |
Cost of goods sold | — |  |  | 513.3 |  |  | 217.7 |  |  | (148.5 | ) |  | 582.5 |
Gross profit | — |  |  | 173.0 |  |  | 41.1 |  |  | (3.2 | ) |  | 210.9 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 130.5 |  |  | 22.1 |  |  | (0.2 | ) |  | 152.4 |
Losses (gains) and other expenses, net | 0.6 |  |  | 2.0 |  |  | 0.6 |  |  | (0.1 | ) |  | 3.1 |
Restructuring charges | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Income from equity method investments | (48.6 | ) |  | (12.7 | ) |  | (4.9 | ) |  | 60.7 |  |  | (5.5 | )
Operating income | 48.0 |  |  | 53.2 |  |  | 23.2 |  |  | (63.6 | ) |  | 60.8 |
Interest expense, net | 7.2 |  |  | (0.8 | ) |  | 1.0 |  |  | — |  |  | 7.4 |
Income from continuing operations before income taxes | 40.8 |  |  | 54.0 |  |  | 22.2 |  |  | (63.6 | ) |  | 53.4 |
Provision for income taxes | (2.7 | ) |  | 7.1 |  |  | 6.3 |  |  | (0.8 | ) |  | 9.9 |
Income from continuing operations | 43.5 |  |  | 46.9 |  |  | 15.9 |  |  | (62.8 | ) |  | 43.5 |
Loss from discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income | $ | 43.5 |  |  | $ | 46.9 |  |  | $ | 15.9 |  |  | $ | (62.8 | ) |  | $ | 43.5 |
Other comprehensive income (loss), net of tax | (71.2 | ) |  | (29.4 | ) |  | 10.8 |  |  | 108.4 |  |  | 18.6 |
Comprehensive income | $ | (27.7 | ) |  | $ | 17.5 |  |  | $ | 26.7 |  |  | $ | 45.6 |  |  | $ | 62.1 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Three Months Ended March 31, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 613.8 |  |  | $ | 143.8 |  |  | $ | (42.4 | ) |  | $ | 715.2 |
Cost of goods sold | — |  |  | 460.7 |  |  | 111.3 |  |  | (40.4 | ) |  | 531.6 |
Gross profit | — |  |  | 153.1 |  |  | 32.5 |  |  | (2.0 | ) |  | 183.6 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 118.9 |  |  | 21.5 |  |  | — |  |  | 140.4 |
Losses and other expenses, net | (0.6 | ) |  | 2.5 |  |  | 2.4 |  |  | — |  |  | 4.3 |
Restructuring gains | — |  |  | 0.1 |  |  | (0.3 | ) |  | — |  |  | (0.2 | )
Income from equity method investments | (28.1 | ) |  | — |  |  | (4.0 | ) |  | 27.5 |  |  | (4.6 | )
Operating income | 28.7 |  |  | 31.6 |  |  | 12.9 |  |  | (29.5 | ) |  | 43.7 |
Interest expense, net | 5.3 |  |  | (0.5 | ) |  | 1.0 |  |  | — |  |  | 5.8 |
Income from continuing operations before income taxes | 23.4 |  |  | 32.1 |  |  | 11.9 |  |  | (29.5 | ) |  | 37.9 |
Provision for income taxes | (1.5 | ) |  | 11.9 |  |  | 3.5 |  |  | (0.9 | ) |  | 13.0 |
Income from continuing operations | 24.9 |  |  | 20.2 |  |  | 8.4 |  |  | (28.6 | ) |  | 24.9 |
Loss from discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income | $ | 24.9 |  |  | $ | 20.2 |  |  | $ | 8.4 |  |  | $ | (28.6 | ) |  | $ | 24.9 |
Other comprehensive loss, net of tax | 4.6 |  |  | 2.1 |  |  | 6.3 |  |  | 1.0 |  |  | 14.0 |
Comprehensive income (loss) | $ | 29.5 |  |  | $ | 22.3 |  |  | $ | 14.7 |  |  | $ | (27.6 | ) |  | $ | 38.9 |
Condensed Consolidating Statements of Cash Flows | Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 341.2 |  |  | $ | (308.6 | ) |  | $ | (140.2 | ) |  | $ | — |  |  | $ | (107.6 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Purchases of property, plant and equipment | — |  |  | (22.0 | ) |  | (2.9 | ) |  | — |  |  | (24.9 | )
Net cash used in investing activities | — |  |  | (22.0 | ) |  | (2.8 | ) |  | — |  |  | (24.8 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (0.8 | ) |  | — |  |  | (0.8 | )
Asset securitization borrowings | — |  |  | — |  |  | 150.0 |  |  | — |  |  | 150.0 |
Asset securitization payments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Long-term debt payments | — |  |  | (0.1 | ) |  | (0.1 | ) |  | — |  |  | (0.2 | )
Borrowings from credit facility | 583.0 |  |  | — |  |  | — |  |  | — |  |  | 583.0 |
Payments on credit facility | (497.5 | ) |  | — |  |  | — |  |  | — |  |  | (497.5 | )
Proceeds from employee stock purchases | 0.7 |  |  | — |  |  | — |  |  | — |  |  | 0.7 |
Repurchases of common stock | (75.0 | ) |  | — |  |  | — |  |  | — |  |  | (75.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (13.3 | ) |  | — |  |  | — |  |  | — |  |  | (13.3 | )
Intercompany debt | (29.3 | ) |  | 7.6 |  |  | 21.7 |  |  | — |  |  | — |
Intercompany financing activity | (291.0 | ) |  | 320.0 |  |  | (29.0 | ) |  | — |  |  | — |
Cash dividends paid | (18.5 | ) |  | — |  |  | — |  |  | — |  |  | (18.5 | )
Net cash provided by financing activities | (340.9 | ) |  | 327.5 |  |  | 141.8 |  |  | — |  |  | 128.4 |
Increase in cash and cash equivalents | 0.3 |  |  | (3.1 | ) |  | (1.2 | ) |  | — |  |  | (4.0 | )
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 2.6 |  |  | — |  |  | 2.6 |
Cash and cash equivalents, beginning of period | 1.2 |  |  | 17.1 |  |  | 31.9 |  |  | — |  |  | 50.2 |
Cash and cash equivalents, end of period | $ | 1.5 |  |  | $ | 14.0 |  |  | $ | 33.3 |  |  | $ | — |  |  | $ | 48.8 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 59.0 |  |  | $ | (163.1 | ) |  | $ | 2.5 |  |  | $ | — |  |  | $ | (101.6 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Purchases of property, plant and equipment | — |  |  | (20.9 | ) |  | (2.9 | ) |  | — |  |  | (23.8 | )
Net cash used in investing activities | — |  |  | (20.9 | ) |  | (2.9 | ) |  | — |  |  | (23.8 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (0.4 | ) |  | — |  |  | (0.4 | )
Asset securitization borrowings | — |  |  | — |  |  | — |  |  | — |  |  | — |
Asset securitization payments | — |  |  | — |  |  | (20.0 | ) |  | — |  |  | (20.0 | )
Long-term debt payments | — |  |  | (0.2 | ) |  | (0.1 | ) |  | — |  |  | (0.3 | )
Borrowings from credit facility | 770.5 |  |  | — |  |  | — |  |  | — |  |  | 770.5 |
Payments on credit facility | (392.0 | ) |  | — |  |  | — |  |  | — |  |  | (392.0 | )
Proceeds from employee stock purchases | 0.6 |  |  | — |  |  | — |  |  | — |  |  | 0.6 |
Repurchases of common stock | (200.0 | ) |  | — |  |  | — |  |  | — |  |  | (200.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (16.8 | ) |  | — |  |  | — |  |  | — |  |  | (16.8 | )
Intercompany financing activity | (8.6 | ) |  | (2.9 | ) |  | 11.5 |  |  | — |  |  | — |
Intercompany investments | (196.1 | ) |  | 194.5 |  |  | 1.6 |  |  | — |  |  | — |
Cash dividends paid | (16.1 | ) |  | — |  |  | — |  |  | — |  |  | (16.1 | )
Net cash provided by financing activities | (58.5 | ) |  | 191.4 |  |  | (7.4 | ) |  | — |  |  | 125.5 |
Increase in cash and cash equivalents | 0.5 |  |  | 7.4 |  |  | (7.8 | ) |  | — |  |  | 0.1 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
Cash and cash equivalents, beginning of period | 0.5 |  |  | 7.8 |  |  | 30.6 |  |  | — |  |  | 38.9 |
Cash and cash equivalents, end of period | $ | 1.0 |  |  | $ | 15.2 |  |  | $ | 24.4 |  |  | $ | — |  |  | $ | 40.6 |

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