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Condensed Consolidating Financial Statements (Tables) | 9 Months Ended
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Sep. 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 September 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.2 |  |  | $ | 22.4 |  |  | $ | 37.1 |  |  | $ | — |  |  | $ | 60.7 |
Accounts and notes receivable, net | — |  |  | 35.5 |  |  | 562.6 |  |  | — |  |  | 598.1 |
Inventories, net | — |  |  | 392.2 |  |  | 143.5 |  |  | (4.8 | ) |  | 530.9 |
Other assets | 14.2 |  |  | 34.3 |  |  | 60.7 |  |  | (28.3 | ) |  | 80.9 |
Total current assets | 15.4 |  |  | 484.4 |  |  | 803.9 |  |  | (33.1 | ) |  | 1,270.6 |
Property, plant and equipment, net | — |  |  | 243.7 |  |  | 135.2 |  |  | (4.3 | ) |  | 374.6 |
Goodwill | — |  |  | 117.8 |  |  | 65.7 |  |  | 17.1 |  |  | 200.6 |
Investment in subsidiaries | 1,212.8 |  |  | 383.7 |  |  | — |  |  | (1,596.5 | ) |  | — |
Deferred income taxes | 11.0 |  |  | 112.0 |  |  | 32.5 |  |  | (12.2 | ) |  | 143.3 |
Other assets, net | 1.8 |  |  | 42.1 |  |  | 24.1 |  |  | (1.4 | ) |  | 66.6 |
Intercompany (payables) receivables, net | (453.9 | ) |  | 461.3 |  |  | 95.1 |  |  | (102.5 | ) |  | — |
Total assets | $ | 787.1 |  |  | $ | 1,845.0 |  |  | $ | 1,156.5 |  |  | $ | (1,732.9 | ) |  | $ | 2,055.7 |
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 326.0 |  |  | $ | — |  |  | $ | 326.0 |
Current maturities of long-term debt | 21.9 |  |  | 0.3 |  |  | 0.2 |  |  | — |  |  | 22.4 |
Accounts payable | 21.3 |  |  | 252.7 |  |  | 120.5 |  |  | — |  |  | 394.5 |
Accrued expenses | 5.7 |  |  | 216.6 |  |  | 56.1 |  |  | — |  |  | 278.4 |
Income taxes (receivable) payable | (55.7 | ) |  | 60.4 |  |  | 48.5 |  |  | (50.8 | ) |  | 2.4 |
Total current liabilities | (6.8 | ) |  | 530.0 |  |  | 551.3 |  |  | (50.8 | ) |  | 1,023.7 |
Long-term debt | 761.1 |  |  | 14.3 |  |  | 0.3 |  |  | — |  |  | 775.7 |
Post-retirement benefits, other than pensions | — |  |  | 1.9 |  |  | — |  |  | — |  |  | 1.9 |
Pensions | — |  |  | 77.1 |  |  | 13.1 |  |  | — |  |  | 90.2 |
Other liabilities | 0.3 |  |  | 119.9 |  |  | 11.5 |  |  | — |  |  | 131.7 |
Total liabilities | 754.6 |  |  | 743.2 |  |  | 576.2 |  |  | (50.8 | ) |  | 2,023.2 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders' equity | 32.5 |  |  | 1,101.8 |  |  | 580.3 |  |  | (1,682.1 | ) |  | 32.5 |
Total liabilities and stockholders' equity | $ | 787.1 |  |  | $ | 1,845.0 |  |  | $ | 1,156.5 |  |  | $ | (1,732.9 | ) |  | $ | 2,055.7 |
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 September 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 905.6 |  |  | $ | 300.0 |  |  | $ | (153.3 | ) |  | $ | 1,052.3 |
Cost of goods sold | — |  |  | 644.8 |  |  | 249.0 |  |  | (155.2 | ) |  | 738.6 |
Gross profit | — |  |  | 260.8 |  |  | 51.0 |  |  | 1.9 |  |  | 313.7 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 140.7 |  |  | 18.8 |  |  | (0.8 | ) |  | 158.7 |
Losses and other expenses, net | 0.2 |  |  | 1.9 |  |  | 0.9 |  |  | — |  |  | 3.0 |
Restructuring charges | — |  |  | 1.2 |  |  | 0.7 |  |  | — |  |  | 1.9 |
Income from equity method investments | (108.2 | ) |  | (21.7 | ) |  | (3.5 | ) |  | 128.9 |  |  | (4.5 | )
Operating income | 108.0 |  |  | 138.7 |  |  | 34.1 |  |  | (126.2 | ) |  | 154.6 |
Interest expense, net | 6.2 |  |  | (0.6 | ) |  | 2.0 |  |  | — |  |  | 7.6 |
Other expense, net | — |  |  | — |  |  | 0.2 |  |  | (0.2 | ) |  | — |
Income from continuing operations before income taxes | 101.8 |  |  | 139.3 |  |  | 31.9 |  |  | (126.0 | ) |  | 147.0 |
Provision for income tax (benefit) expense | (1.7 | ) |  | 30.5 |  |  | 13.5 |  |  | 0.7 |  |  | 43.0 |
Income from continuing operations | 103.5 |  |  | 108.8 |  |  | 18.4 |  |  | (126.7 | ) |  | 104.0 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Net income | $ | 103.5 |  |  | $ | 108.8 |  |  | $ | 17.9 |  |  | $ | (126.7 | ) |  | $ | 103.5 |
Other comprehensive income, net of tax | 0.4 |  |  | 2.1 |  |  | 6.9 |  |  | — |  |  | 9.4 |
Comprehensive income (loss) | $ | 103.9 |  |  | $ | 110.9 |  |  | $ | 24.8 |  |  | $ | (126.7 | ) |  | $ | 112.9 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Nine Months Ended September 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 2,560.6 |  |  | $ | 869.7 |  |  | $ | (482.4 | ) |  | $ | 2,947.9 |
Cost of goods sold | — |  |  | 1,830.8 |  |  | 731.1 |  |  | (479.5 | ) |  | 2,082.4 |
Gross profit | — |  |  | 729.8 |  |  | 138.6 |  |  | (2.9 | ) |  | 865.5 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 419.2 |  |  | 61.6 |  |  | (1.2 | ) |  | 479.6 |
Losses (gains) and other expenses, net | 1.1 |  |  | 5.8 |  |  | 1.7 |  |  | (0.1 | ) |  | 8.5 |
Restructuring charges | — |  |  | 1.3 |  |  | 0.8 |  |  | — |  |  | 2.1 |
Income from equity method investments | (277.5 | ) |  | (52.0 | ) |  | (12.7 | ) |  | 326.7 |  |  | (15.5 | )
Operating income | 276.4 |  |  | 355.5 |  |  | 87.2 |  |  | (328.3 | ) |  | 390.8 |
Interest expense, net | 20.9 |  |  | (2.3 | ) |  | 4.7 |  |  | — |  |  | 23.3 |
Other expense, net | — |  |  | — |  |  | — |  |  | (0.2 | ) |  | (0.2 | )
Income from continuing operations before income taxes | 255.5 |  |  | 357.8 |  |  | 82.5 |  |  | (328.1 | ) |  | 367.7 |
Provision for income tax (benefit) expense | (7.0 | ) |  | 84.8 |  |  | 26.2 |  |  | (0.2 | ) |  | 103.8 |
Income from continuing operations | 262.5 |  |  | 273.0 |  |  | 56.3 |  |  | (327.9 | ) |  | 263.9 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | (1.4 | ) |  | — |  |  | (1.4 | )
Net income | $ | 262.5 |  |  | $ | 273.0 |  |  | $ | 54.9 |  |  | $ | (327.9 | ) |  | $ | 262.5 |
Other comprehensive income, net of tax | $ | 0.5 |  |  | $ | 9.7 |  |  | $ | 27.9 |  |  | $ | — |  |  | $ | 38.1 |
Comprehensive income (loss) | $ | 263.0 |  |  | $ | 282.7 |  |  | $ | 82.8 |  |  | $ | (327.9 | ) |  | $ | 300.6 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Three Months Ended September 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 870.5 |  |  | $ | 186.9 |  |  | $ | (47.4 | ) |  | $ | 1,010.0 |
Cost of goods sold | — |  |  | 603.4 |  |  | 143.7 |  |  | (47.4 | ) |  | 699.7 |
Gross profit | — |  |  | 267.1 |  |  | 43.2 |  |  | — |  |  | 310.3 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 135.9 |  |  | 20.6 |  |  | — |  |  | 156.5 |
(Gains) losses and other expenses, net | (1.1 | ) |  | 1.1 |  |  | 0.7 |  |  | — |  |  | 0.7 |
Restructuring charges | — |  |  | 0.5 |  |  | 0.1 |  |  | — |  |  | 0.6 |
Income from equity method investments | (105.0 | ) |  | (10.0 | ) |  | (3.2 | ) |  | 113.8 |  |  | (4.4 | )
Operating income | 106.1 |  |  | 139.6 |  |  | 25.0 |  |  | (113.8 | ) |  | 156.9 |
Interest expense, net | 6.1 |  |  | (0.5 | ) |  | 1.4 |  |  | — |  |  | 7.0 |
Other expense, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Income from continuing operations before income taxes | 100.0 |  |  | 140.1 |  |  | 23.6 |  |  | (113.8 | ) |  | 149.9 |
Provision for income tax (benefit) expense | (1.7 | ) |  | 42.3 |  |  | 7.6 |  |  | — |  |  | 48.2 |
Income from continuing operations | 101.7 |  |  | 97.8 |  |  | 16.0 |  |  | (113.8 | ) |  | 101.7 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income | $ | 101.7 |  |  | $ | 97.8 |  |  | $ | 16.0 |  |  | $ | (113.8 | ) |  | $ | 101.7 |
Other comprehensive income (loss), net of tax | 2.7 |  |  | (0.4 | ) |  | (2.3 | ) |  | (0.4 | ) |  | (0.4 | )
Comprehensive income (loss) | $ | 104.4 |  |  | $ | 97.4 |  |  | $ | 13.7 |  |  | $ | (114.2 | ) |  | $ | 101.3 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Operations and Comprehensive Income For the Nine Months Ended September 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 2,368.8 |  |  | $ | 514.1 |  |  | $ | (138.5 | ) |  | $ | 2,744.4 |
Cost of goods sold | — |  |  | 1,675.6 |  |  | 396.3 |  |  | (136.4 | ) |  | 1,935.5 |
Gross profit | — |  |  | 693.2 |  |  | 117.8 |  |  | (2.1 | ) |  | 808.9 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 394.6 |  |  | 61.6 |  |  | — |  |  | 456.2 |
(Gains) losses and other expenses, net | (1.7 | ) |  | 4.3 |  |  | 3.0 |  |  | (0.1 | ) |  | 5.5 |
Restructuring charges (gains) | — |  |  | 1.5 |  |  | (0.3 | ) |  | — |  |  | 1.2 |
Income from equity method investments | (248.5 | ) |  | (19.5 | ) |  | (12.4 | ) |  | 265.1 |  |  | (15.3 | )
Operating income | 250.2 |  |  | 312.3 |  |  | 65.9 |  |  | (267.1 | ) |  | 361.3 |
Interest expense, net | 17.7 |  |  | (1.5 | ) |  | 3.4 |  |  | — |  |  | 19.6 |
Other expense, net | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Income from continuing operations before income taxes | 232.5 |  |  | 313.8 |  |  | 62.7 |  |  | (267.1 | ) |  | 341.9 |
Provision for income tax (benefit) expense | (4.9 | ) |  | 89.1 |  |  | 20.5 |  |  | (0.7 | ) |  | 104.0 |
Income from continuing operations | 237.4 |  |  | 224.7 |  |  | 42.2 |  |  | (266.4 | ) |  | 237.9 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | 0.6 |  |  | — |  |  | 0.6 |
Net income | $ | 237.4 |  |  | $ | 224.7 |  |  | $ | 41.6 |  |  | $ | (266.4 | ) |  | $ | 237.3 |
Other comprehensive income, net of tax | 7.7 |  |  | 2.0 |  |  | 6.7 |  |  | 1.3 |  |  | 17.7 |
Comprehensive income (loss) | $ | 245.1 |  |  | $ | 226.7 |  |  | $ | 48.3 |  |  | $ | (265.1 | ) |  | $ | 255.0 |
Condensed Consolidating Statements of Cash Flows | Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2017
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 411.6 |  |  | $ | (2.4 | ) |  | $ | (279.6 | ) |  | $ | (0.6 | ) |  | $ | 129.0 |
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 | — |  |  | (48.3 | ) |  | (12.2 | ) |  | — |  |  | (60.5 | )
Net cash used in investing activities | — |  |  | (48.2 | ) |  | (12.2 | ) |  | 0.1 |  |  | (60.3 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (1.4 | ) |  | — |  |  | (1.4 | )
Asset securitization borrowings | — |  |  | — |  |  | 275.0 |  |  | — |  |  | 275.0 |
Asset securitization payments | — |  |  | — |  |  | — |  |  | — |  |  | — |
Long-term debt payments | (200.0 | ) |  | (0.2 | ) |  | (0.1 | ) |  | (0.5 | ) |  | (200.8 | )
Long-term borrowings | — |  |  | 0.1 |  |  | (0.1 | ) |  | — |  |  | — |
Borrowings from credit facility | 1,883.0 |  |  | (0.2 | ) |  | (0.2 | ) |  | 0.4 |  |  | 1,883.0 |
Payments on credit facility | (1,701.0 | ) |  | — |  |  | — |  |  | — |  |  | (1,701.0 | )
Proceeds from employee stock purchases | 2.3 |  |  | — |  |  | — |  |  | — |  |  | 2.3 |
Repurchases of common stock | (250.0 | ) |  | — |  |  | — |  |  | — |  |  | (250.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (16.0 | ) |  | — |  |  | — |  |  | — |  |  | (16.0 | )
Intercompany debt | 102.8 |  |  | (34.8 | ) |  | (68.0 | ) |  | — |  |  | — |
Intercompany financing activity | (174.3 | ) |  | 91.0 |  |  | 82.7 |  |  | 0.6 |  |  | — |
Cash dividends paid | (58.4 | ) |  | — |  |  | — |  |  | — |  |  | (58.4 | )
Net cash (used in) provided by financing activities | (411.6 | ) |  | 55.9 |  |  | 287.9 |  |  | 0.5 |  |  | (67.3 | )
Increase (decrease) in cash and cash equivalents | — |  |  | 5.3 |  |  | (3.9 | ) |  | — |  |  | 1.4 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 9.1 |  |  | — |  |  | 9.1 |
Cash and cash equivalents, beginning of period | 1.2 |  |  | 17.1 |  |  | 31.9 |  |  | — |  |  | 50.2 |
Cash and cash equivalents, end of period | $ | 1.2 |  |  | $ | 22.4 |  |  | $ | 37.1 |  |  | $ | — |  |  | $ | 60.7 |
Lennox International Inc. and Subsidiaries Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2016
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities | $ | 15.5 |  |  | $ | 262.2 |  |  | $ | (150.8 | ) |  | $ | — |  |  | $ | 126.9 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (52.4 | ) |  | (7.0 | ) |  | — |  |  | (59.4 | )
Net cash used in investing activities | — |  |  | (52.4 | ) |  | (7.0 | ) |  | — |  |  | (59.4 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (2.1 | ) |  | — |  |  | (2.1 | )
Asset securitization borrowings | — |  |  | — |  |  | 145.0 |  |  | — |  |  | 145.0 |
Asset securitization payments | — |  |  | — |  |  | (20.0 | ) |  | — |  |  | (20.0 | )
Long-term debt payments | (30.0 | ) |  | (0.6 | ) |  | (0.3 | ) |  | — |  |  | (30.9 | )
Borrowings from credit facility | 1,715.0 |  |  | — |  |  | — |  |  | — |  |  | 1,715.0 |
Payments on credit facility | (1,493.0 | ) |  | — |  |  | — |  |  | — |  |  | (1,493.0 | )
Proceeds from employee stock purchases | 1.9 |  |  | — |  |  | — |  |  | — |  |  | 1.9 |
Payments of deferred financing costs | (0.9 | ) |  | — |  |  | — |  |  | — |  |  | (0.9 | )
Repurchases of common stock | (300.0 | ) |  | — |  |  | — |  |  | — |  |  | (300.0 | )
Repurchases of common stock to satisfy employee withholding tax obligations | (26.3 | ) |  | — |  |  | — |  |  | — |  |  | (26.3 | )
Intercompany debt | (6.6 | ) |  | (5.1 | ) |  | 11.7 |  |  | — |  |  | — |
Intercompany financing activity | 178.9 |  |  | (196.0 | ) |  | 17.1 |  |  | — |  |  | — |
Intercompany investments | — |  | — |  | — |  |  | — |  |  | — |  |  | — |
Cash dividends paid | (50.5 | ) |  | — |  |  | — |  |  | — |  |  | (50.5 | )
Net cash (used in) provided by financing activities | (11.5 | ) |  | (201.7 | ) |  | 151.4 |  |  | — |  |  | (61.8 | )
Increase (decrease) in cash and cash equivalents | 4.0 |  |  | 8.1 |  |  | (6.4 | ) |  | — |  |  | 5.7 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 3.2 |  |  | — |  |  | 3.2 |
Cash and cash equivalents, beginning of period | 0.5 |  |  | 7.8 |  |  | 30.6 |  |  | — |  |  | 38.9 |
Cash and cash equivalents, end of period | $ | 4.5 |  |  | $ | 15.9 |  |  | $ | 27.4 |  |  | $ | — |  |  | $ | 47.8 |

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