XML 32 R22.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Condensed Consolidating Financial Statements | 6 Months Ended
--- | ---
Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Financial Statements | Condensed Consolidating Financial Statements: The Company’s senior unsecured notes are unconditionally guaranteed by certain of the Company’s subsidiaries (the “Guarantor Subsidiaries”) and are not guaranteed by our other subsidiaries (the “Non-Guarantor Subsidiaries”). The Guarantor Subsidiaries are 100% owned, all guarantees are full and unconditional, and all guarantees are joint and several. As a result of the guarantee arrangements, we are required to present the following condensed consolidating financial statements. The condensed consolidating financial statements reflect the investments in subsidiaries of the Company using the equity method of accounting. The principal elimination entries eliminate investments in subsidiaries and intercompany balances and transactions. Condensed consolidating financial statements of the Company, its Guarantor Subsidiaries and Non-Guarantor Subsidiaries as of June 30, 2017 and December 31, 2016 and for the three and six months ended June 30, 2017 and 2016 are shown on the following pages. 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 |
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 |
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 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=68079674&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration