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Condensed Consolidating Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 3.4 |  |  | $ | 24.9 |  |  | $ | 33.0 |  |  | $ | — |  |  | $ | 61.3 |
Accounts and notes receivable, net | — |  |  | 49.0 |  |  | 640.9 |  |  | — |  |  | 689.9 |
Inventories, net | — |  |  | 414.2 |  |  | 136.9 |  |  | (12.3 | ) |  | 538.8 |
Other assets | 14.5 |  |  | 52.4 |  |  | 63.8 |  |  | (54.0 | ) |  | 76.7 |
Total current assets | 17.9 |  |  | 540.5 |  |  | 874.6 |  |  | (66.3 | ) |  | 1,366.7 |
Property, plant and equipment, net | — |  |  | 243.8 |  |  | 132.5 |  |  | (4.6 | ) |  | 371.7 |
Goodwill | — |  |  | 134.9 |  |  | 64.1 |  |  | — |  |  | 199.0 |
Investment in subsidiaries | 1,095.6 |  |  | 531.1 |  |  | (0.6 | ) |  | (1,626.1 | ) |  | — |
Deferred income taxes | 11.9 |  |  | 112.3 |  |  | 31.8 |  |  | (14.7 | ) |  | 141.3 |
Other assets, net | 1.7 |  |  | 40.4 |  |  | 27.1 |  |  | (2.1 | ) |  | 67.1 |
Intercompany receivables (payables), net | (161.4 | ) |  | 153.6 |  |  | 81.0 |  |  | (73.2 | ) |  | — |
Total assets | $ | 965.7 |  |  | $ | 1,756.6 |  |  | $ | 1,210.5 |  |  | $ | (1,787.0 | ) |  | $ | 2,145.8 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 251.3 |  |  | $ | — |  |  | $ | 251.3 |
Current maturities of long-term debt | 14.4 |  |  | 0.3 |  |  | 0.3 |  |  | — |  |  | 15.0 |
Accounts payable | 21.5 |  |  | 291.6 |  |  | 130.0 |  |  | (0.6 | ) |  | 442.5 |
Accrued expenses | 2.0 |  |  | 201.2 |  |  | 54.0 |  |  | — |  |  | 257.2 |
Income taxes payable | 9.2 |  |  | 51.1 |  |  | 42.4 |  |  | (79.2 | ) |  | 23.5 |
Total current liabilities | 47.1 |  |  | 544.2 |  |  | 478.0 |  |  | (79.8 | ) |  | 989.5 |
Long-term debt | 907.9 |  |  | 14.4 |  |  | 0.3 |  |  | — |  |  | 922.6 |
Post-retirement benefits, other than pensions | — |  |  | 2.1 |  |  | — |  |  | — |  |  | 2.1 |
Pensions | — |  |  | 76.5 |  |  | 13.0 |  |  | — |  |  | 89.5 |
Other liabilities | — |  |  | 122.6 |  |  | 11.4 |  |  | (2.5 | ) |  | 131.5 |
Total liabilities | 955.0 |  |  | 759.8 |  |  | 502.7 |  |  | (82.3 | ) |  | 2,135.2 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders' equity | 10.7 |  |  | 996.8 |  |  | 707.8 |  |  | (1,704.7 | ) |  | 10.6 |
Total liabilities and stockholders' equity | $ | 965.7 |  |  | $ | 1,756.6 |  |  | $ | 1,210.5 |  |  | $ | (1,787.0 | ) |  | $ | 2,145.8 |
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 June 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 968.7 |  |  | $ | 310.9 |  |  | $ | (177.5 | ) |  | $ | 1,102.1 |
Cost of goods sold | — |  |  | 672.7 |  |  | 264.5 |  |  | (175.9 | ) |  | 761.3 |
Gross profit | — |  |  | 296.0 |  |  | 46.4 |  |  | (1.6 | ) |  | 340.8 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 147.9 |  |  | 20.8 |  |  | (0.2 | ) |  | 168.5 |
Losses (gains) and other expenses, net | 0.3 |  |  | 1.9 |  |  | 0.2 |  |  | (0.1 | ) |  | 2.3 |
Restructuring charges | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Income from equity method investments | (120.6 | ) |  | (17.5 | ) |  | (4.5 | ) |  | 137.1 |  |  | (5.5 | )
Operating income | 120.3 |  |  | 163.7 |  |  | 29.8 |  |  | (138.4 | ) |  | 175.4 |
Interest expense, net | 7.4 |  |  | (0.8 | ) |  | 1.6 |  |  | — |  |  | 8.2 |
Other expense, net | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Income from continuing operations before income taxes | 112.9 |  |  | 164.5 |  |  | 28.3 |  |  | (138.4 | ) |  | 167.3 |
Provision for income taxes | (2.6 | ) |  | 47.2 |  |  | 6.5 |  |  | (0.2 | ) |  | 50.9 |
Income from continuing operations | 115.5 |  |  | 117.3 |  |  | 21.8 |  |  | (138.2 | ) |  | 116.4 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (0.9 | ) |  | — |  |  | (0.9 | )
Net income | $ | 115.5 |  |  | $ | 117.3 |  |  | $ | 20.9 |  |  | $ | (138.2 | ) |  | $ | 115.5 |
Other comprehensive income (loss), net of tax | (1.5 | ) |  | 0.3 |  |  | 10.2 |  |  | 1.1 |  |  | 10.1 |
Comprehensive income | $ | 114.0 |  |  | $ | 117.6 |  |  | $ | 31.1 |  |  | $ | (137.1 | ) |  | $ | 125.6 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Six Months Ended June 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 1,655.0 |  |  | $ | 569.7 |  |  | $ | (329.1 | ) |  | $ | 1,895.6 |
Cost of goods sold | — |  |  | 1,186.0 |  |  | 482.1 |  |  | (324.3 | ) |  | 1,343.8 |
Gross profit | — |  |  | 469.0 |  |  | 87.6 |  |  | (4.8 | ) |  | 551.8 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 278.5 |  |  | 42.8 |  |  | (0.4 | ) |  | 320.9 |
Losses (gains) and other expenses, net | 0.9 |  |  | 3.8 |  |  | 0.8 |  |  | (0.1 | ) |  | 5.4 |
Restructuring charges | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 0.2 |
Income from equity method investments | (169.3 | ) |  | (30.1 | ) |  | (9.3 | ) |  | 197.8 |  |  | (10.9 | )
Operating income | 168.4 |  |  | 216.7 |  |  | 53.2 |  |  | (202.1 | ) |  | 236.2 |
Interest expense, net | 14.7 |  |  | (1.7 | ) |  | 2.7 |  |  | — |  |  | 15.7 |
Other expense, net | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Income from continuing operations before income taxes | 153.7 |  |  | 218.4 |  |  | 50.6 |  |  | (202.1 | ) |  | 220.6 |
Provision for income taxes | (5.3 | ) |  | 54.3 |  |  | 12.7 |  |  | (1.0 | ) |  | 60.7 |
Income from continuing operations | 159.0 |  |  | 164.1 |  |  | 37.9 |  |  | (201.1 | ) |  | 159.9 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (0.9 | ) |  | — |  |  | (0.9 | )
Net income | $ | 159.0 |  |  | $ | 164.1 |  |  | $ | 37.0 |  |  | $ | (201.1 | ) |  | $ | 159.0 |
Other comprehensive income (loss), net of tax | $ | (72.8 | ) |  | $ | (29.1 | ) |  | $ | 21.0 |  |  | $ | 109.5 |  |  | $ | 28.6 |
Comprehensive income | $ | 86.2 |  |  | $ | 135.0 |  |  | $ | 58.0 |  |  | $ | (91.6 | ) |  | $ | 187.6 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Three Months Ended June 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 884.5 |  |  | $ | 183.4 |  |  | $ | (48.7 | ) |  | $ | 1,019.2 |
Cost of goods sold | — |  |  | 611.7 |  |  | 141.2 |  |  | (48.7 | ) |  | 704.2 |
Gross profit | — |  |  | 272.8 |  |  | 42.2 |  |  | — |  |  | 315.0 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 139.9 |  |  | 19.5 |  |  | — |  |  | 159.4 |
Losses and other expenses, net | — |  |  | 0.7 |  |  | (0.2 | ) |  | (0.1 | ) |  | 0.4 |
Restructuring gains | — |  |  | 1.0 |  |  | (0.2 | ) |  | — |  |  | 0.8 |
Income from equity method investments | (115.5 | ) |  | (9.5 | ) |  | (5.2 | ) |  | 123.9 |  |  | (6.3 | )
Operating income | 115.5 |  |  | 140.7 |  |  | 28.3 |  |  | (123.8 | ) |  | 160.7 |
Interest expense, net | 6.3 |  |  | (0.5 | ) |  | 1.0 |  |  | — |  |  | 6.8 |
Other expense, net | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Income from continuing operations before income taxes | 109.2 |  |  | 141.2 |  |  | 27.5 |  |  | (123.8 | ) |  | 154.1 |
Provision for income taxes | (1.5 | ) |  | 34.8 |  |  | 9.5 |  |  | 0.1 |  |  | 42.9 |
Income from continuing operations | 110.7 |  |  | 106.4 |  |  | 18.0 |  |  | (123.9 | ) |  | 111.2 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Net income | $ | 110.7 |  |  | $ | 106.4 |  |  | $ | 17.5 |  |  | $ | (123.9 | ) |  | $ | 110.7 |
Other comprehensive loss, net of tax | 0.3 |  |  | 0.3 |  |  | 2.7 |  |  | 0.8 |  |  | 4.1 |
Comprehensive income (loss) | $ | 111.0 |  |  | $ | 106.7 |  |  | $ | 20.2 |  |  | $ | (123.1 | ) |  | $ | 114.8 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Six Months Ended June 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 1,498.3 |  |  | $ | 327.2 |  |  | $ | (91.1 | ) |  | $ | 1,734.4 |
Cost of goods sold | — |  |  | 1,072.4 |  |  | 252.5 |  |  | (89.1 | ) |  | 1,235.8 |
Gross profit | — |  |  | 425.9 |  |  | 74.7 |  |  | (2.0 | ) |  | 498.6 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 258.6 |  |  | 41.1 |  |  | — |  |  | 299.7 |
Losses and other expenses, net | (0.6 | ) |  | 3.1 |  |  | 2.2 |  |  | — |  |  | 4.7 |
Restructuring gains | — |  |  | 1.0 |  |  | (0.4 | ) |  | — |  |  | 0.6 |
Income from equity method investments | (143.5 | ) |  | (9.5 | ) |  | (9.2 | ) |  | 151.4 |  |  | (10.8 | )
Operating income | 144.1 |  |  | 172.7 |  |  | 41.0 |  |  | (153.4 | ) |  | 204.4 |
Interest expense, net | 11.7 |  |  | (1.0 | ) |  | 2.0 |  |  | — |  |  | 12.7 |
Other expense, net | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Income from continuing operations before income taxes | 132.4 |  |  | 173.7 |  |  | 39.3 |  |  | (153.4 | ) |  | 192.0 |
Provision for income taxes | (3.1 | ) |  | 46.8 |  |  | 12.9 |  |  | (0.7 | ) |  | 55.9 |
Income from continuing operations | 135.5 |  |  | 126.9 |  |  | 26.4 |  |  | (152.7 | ) |  | 136.1 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Net income | $ | 135.5 |  |  | $ | 126.9 |  |  | $ | 25.9 |  |  | $ | (152.7 | ) |  | $ | 135.6 |
Other comprehensive loss, net of tax | 4.9 |  |  | 2.4 |  |  | 9.0 |  |  | 1.8 |  |  | 18.1 |
Comprehensive income (loss) | $ | 140.4 |  |  | $ | 129.3 |  |  | $ | 34.9 |  |  | $ | (150.9 | ) |  | $ | 153.7 |
Condensed Consolidating Statements of Cash Flows | Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 326.1 |  |  | $ | (191.4 | ) |  | $ | (183.0 | ) |  | $ | — |  |  | $ | (48.3 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 0.2 |
Purchases of property, plant and equipment | — |  |  | (37.2 | ) |  | (6.2 | ) |  | — |  |  | (43.4 | )
Net cash used in investing activities | — |  |  | (37.1 | ) |  | (6.1 | ) |  | — |  |  | (43.2 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (1.1 | ) |  | — |  |  | (1.1 | )
Asset securitization borrowings | — |  |  | — |  |  | 200.0 |  |  | — |  |  | 200.0 |
Asset securitization payments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Long-term debt payments | (200.0 | ) |  | (0.2 | ) |  | (0.3 | ) |  | — |  |  | (200.5 | )
Borrowings from credit facility | 1,352.5 |  |  | — |  |  | — |  |  | — |  |  | 1,352.5 |
Payments on credit facility | (1,031.0 | ) |  | — |  |  | — |  |  | — |  |  | (1,031.0 | )
Proceeds from employee stock purchases | 1.5 |  |  | — |  |  | — |  |  | — |  |  | 1.5 |
Repurchases of common stock | (175.0 | ) |  | — |  |  | — |  |  | — |  |  | (175.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (14.1 | ) |  | — |  |  | — |  |  | — |  |  | (14.1 | )
Intercompany debt | (25.5 | ) |  | 6.4 |  |  | 19.1 |  |  | — |  |  | — |
Intercompany financing activity | (195.4 | ) |  | 230.1 |  |  | (34.7 | ) |  | — |  |  | — |
Cash dividends paid | (36.9 | ) |  | — |  |  | — |  |  | — |  |  | (36.9 | )
Net cash provided by financing activities | (323.9 | ) |  | 236.3 |  |  | 183.0 |  |  | — |  |  | 95.4 |
Increase in cash and cash equivalents | 2.2 |  |  | 7.8 |  |  | (6.1 | ) |  | — |  |  | 3.9 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 7.2 |  |  | — |  |  | 7.2 |
Cash and cash equivalents, beginning of period | 1.2 |  |  | 17.1 |  |  | 31.9 |  |  | — |  |  | 50.2 |
Cash and cash equivalents, end of period | $ | 3.4 |  |  | $ | 24.9 |  |  | $ | 33.0 |  |  | $ | — |  |  | $ | 61.3 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 62.1 |  |  | $ | (51.3 | ) |  | $ | (36.1 | ) |  | $ | — |  |  | $ | (25.3 | )
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (36.8 | ) |  | (4.9 | ) |  | — |  |  | (41.7 | )
Net cash used in investing activities | — |  |  | (36.8 | ) |  | (4.9 | ) |  | — |  |  | (41.7 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Asset securitization borrowings | — |  |  | — |  |  | 40.0 |  |  | — |  |  | 40.0 |
Asset securitization payments | — |  |  | — |  |  | (20.0 | ) |  | — |  |  | (20.0 | )
Long-term debt payments | (7.5 | ) |  | (0.5 | ) |  | (0.2 | ) |  | — |  |  | (8.2 | )
Borrowings from credit facility | 1,184.5 |  |  | — |  |  | — |  |  | — |  |  | 1,184.5 |
Payments on credit facility | (864.0 | ) |  | — |  |  | — |  |  | — |  |  | (864.0 | )
Proceeds from employee stock purchases | 1.3 |  |  | — |  |  | — |  |  | — |  |  | 1.3 |
Repurchases of common stock | (200.0 | ) |  | — |  |  | — |  |  | — |  |  | (200.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (21.4 | ) |  | — |  |  | — |  |  | — |  |  | (21.4 | )
Intercompany debt | (11.9 | ) |  | (4.3 | ) |  | 16.2 |  |  | — |  |  | — |
Intercompany financing activity | (110.2 | ) |  | 109.1 |  |  | 1.1 |  |  | — |  |  | — |
Intercompany investments | — |  | — |  | — |  |  | — |  |  | — |  |  | — |
Cash dividends paid | (31.8 | ) |  | — |  |  | — |  |  | — |  |  | (31.8 | )
Net cash provided by financing activities | (61.0 | ) |  | 104.3 |  |  | 37.6 |  |  | — |  |  | 80.9 |
Increase in cash and cash equivalents | 1.1 |  |  | 16.2 |  |  | (3.4 | ) |  | — |  |  | 13.9 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 1.9 |  |  | — |  |  | 1.9 |
Cash and cash equivalents, beginning of period | 0.5 |  |  | 7.8 |  |  | 30.6 |  |  | — |  |  | 38.9 |
Cash and cash equivalents, end of period | $ | 1.6 |  |  | $ | 24.0 |  |  | $ | 29.1 |  |  | $ | — |  |  | $ | 54.7 |

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