XML 77 R58.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Condensed Consolidating Financial Statements (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract] |
Condensed consolidating balance sheets | Condensed Consolidating Balance Sheets As of December 31, 2018 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.8 |  |  | $ | 15.4 |  |  | $ | 29.1 |  |  | $ | — |  |  | $ | 46.3 |
Accounts and notes receivable, net | — |  |  | 44.3 |  |  | 428.4 |  |  | — |  |  | 472.7 |
Inventories, net | — |  |  | 411.4 |  |  | 103.9 |  |  | (5.5 | ) |  | 509.8 |
Other assets | 3.3 |  |  | 36.2 |  |  | 54.7 |  |  | (33.6 | ) |  | 60.6 |
Total current assets | 5.1 |  |  | 507.3 |  |  | 616.1 |  |  | (39.1 | ) |  | 1,089.4 |
Property, plant and equipment, net | — |  |  | 293.3 |  |  | 118.6 |  |  | (3.6 | ) |  | 408.3 |
Goodwill | — |  |  | 166.1 |  |  | 20.5 |  |  | — |  |  | 186.6 |
Investment in subsidiaries | 1,311.9 |  |  | 357.8 |  |  | (0.5 | ) |  | (1,669.2 | ) |  | — |
Deferred income taxes | 1.4 |  |  | 54.4 |  |  | 23.4 |  |  | (12.2 | ) |  | 67.0 |
Other assets, net | 1.5 |  |  | 48.1 |  |  | 17.8 |  |  | (1.5 | ) |  | 65.9 |
Intercompany (payables) receivables, net | (715.5 | ) |  | 675.8 |  |  | 142.6 |  |  | (102.9 | ) |  | — |
Total assets | $ | 604.4 |  |  | $ | 2,102.8 |  |  | $ | 938.5 |  |  | $ | (1,828.5 | ) |  | $ | 1,817.2 |
LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Current maturities of long-term debt | 29.4 |  |  | 2.8 |  |  | 268.6 |  |  | — |  |  | 300.8 |
Accounts payable | 25.5 |  |  | 295.7 |  |  | 112.1 |  |  | — |  |  | 433.3 |
Accrued expenses | 12.1 |  |  | 213.8 |  |  | 46.4 |  |  | — |  |  | 272.3 |
Income taxes payable | (38.5 | ) |  | 40.6 |  |  | 50.8 |  |  | (50.8 | ) |  | 2.1 |
Total current liabilities | 28.5 |  |  | 552.9 |  |  | 477.9 |  |  | (50.8 | ) |  | 1,008.5 |
Long-term debt | 724.9 |  |  | 15.0 |  |  | 0.6 |  |  | — |  |  | 740.5 |
Pensions | — |  |  | 75.1 |  |  | 7.7 |  |  | — |  |  | 82.8 |
Other liabilities | 0.6 |  |  | 126.4 |  |  | 8.0 |  |  | — |  |  | 135.0 |
Total liabilities | 754.0 |  |  | 769.4 |  |  | 494.2 |  |  | (50.8 | ) |  | 1,966.8 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders’ (deficit) equity | (149.6 | ) |  | 1,333.4 |  |  | 444.3 |  |  | (1,777.7 | ) |  | (149.6 | )
Total liabilities and stockholders’ (deficit) equity | $ | 604.4 |  |  | $ | 2,102.8 |  |  | $ | 938.5 |  |  | $ | (1,828.5 | ) |  | $ | 1,817.2 |
Condensed Consolidating Balance Sheets As of December 31, 2017 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.6 |  |  | $ | 28.0 |  |  | $ | 38.6 |  |  | $ | — |  |  | $ | 68.2 |
Accounts and notes receivable, net | — |  |  | 35.3 |  |  | 471.2 |  |  | — |  |  | 506.5 |
Inventories, net | — |  |  | 355.7 |  |  | 131.9 |  |  | (3.4 | ) |  | 484.2 |
Other assets | 16.2 |  |  | 23.1 |  |  | 67.5 |  |  | (28.4 | ) |  | 78.4 |
Total current assets | 17.8 |  |  | 442.1 |  |  | 709.2 |  |  | (31.8 | ) |  | 1,137.3 |
Property, plant and equipment, net | — |  |  | 257.6 |  |  | 144.4 |  |  | (4.2 | ) |  | 397.8 |
Goodwill | — |  |  | 134.9 |  |  | 65.6 |  |  | — |  |  | 200.5 |
Investment in subsidiaries | 1,257.7 |  |  | 365.8 |  |  | (0.6 | ) |  | (1,622.9 | ) |  | — |
Deferred income taxes | 3.9 |  |  | 69.1 |  |  | 33.6 |  |  | (12.2 | ) |  | 94.4 |
Other assets, net | 2.1 |  |  | 41.3 |  |  | 19.6 |  |  | (1.5 | ) |  | 61.5 |
Intercompany (payables) receivables, net | (559.3 | ) |  | 554.7 |  |  | 107.4 |  |  | (102.8 | ) |  | — |
Total assets | $ | 722.2 |  |  | $ | 1,865.5 |  |  | $ | 1,079.2 |  |  | $ | (1,775.4 | ) |  | $ | 1,891.5 |
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities: |  |  |  |  |  |  |  |  |
Short-term debt | $ | — |  |  | $ | — |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | 0.9 |
Current maturities of long-term debt | 29.4 |  |  | 2.9 |  |  | 0.3 |  |  | — |  |  | 32.6 |
Accounts payable | 21.3 |  |  | 228.0 |  |  | 99.3 |  |  | — |  |  | 348.6 |
Accrued expenses | 3.1 |  |  | 209.4 |  |  | 57.8 |  |  | — |  |  | 270.3 |
Income taxes payable | (64.5 | ) |  | 56.5 |  |  | 60.9 |  |  | (50.8 | ) |  | 2.1 |
Total current liabilities | (10.7 | ) |  | 496.8 |  |  | 219.2 |  |  | (50.8 | ) |  | 654.5 |
Long-term debt | 682.8 |  |  | 11.7 |  |  | 276.0 |  |  | — |  |  | 970.5 |
Pensions | — |  |  | 74.7 |  |  | 9.8 |  |  | — |  |  | 84.5 |
Other liabilities | — |  |  | 123.2 |  |  | 8.7 |  |  | — |  |  | 131.9 |
Total liabilities | 672.1 |  |  | 706.4 |  |  | 513.7 |  |  | (50.8 | ) |  | 1,841.4 |
Commitments and contingencies |  |  |  |  |  |  |  |  |
Total stockholders’ equity (deficit) | 50.1 |  |  | 1,159.1 |  |  | 565.5 |  |  | (1,724.6 | ) |  | 50.1 |
Total liabilities and stockholders’ equity (deficit) | $ | 722.2 |  |  | $ | 1,865.5 |  |  | $ | 1,079.2 |  |  | $ | (1,775.4 | ) |  | $ | 1,891.5 |
Condensed consolidating statements of operations and comprehensive income | Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2018 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net Sales | $ | — |  |  | $ | 3,473.2 |  |  | $ | 1,129.6 |  |  | $ | (718.9 | ) |  | $ | 3,883.9 |
Cost of goods sold | — |  |  | 2,500.6 |  |  | 988.7 |  |  | (716.6 | ) |  | 2,772.7 |
Gross profit | — |  |  | 972.6 |  |  | 140.9 |  |  | (2.3 | ) |  | 1,111.2 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 555.3 |  |  | 53.6 |  |  | (0.7 | ) |  | 608.2 |
Losses (gains) and other expenses, net | 2.0 |  |  | 5.4 |  |  | 6.3 |  |  | (0.3 | ) |  | 13.4 |
Restructuring charges | — |  |  | 1.1 |  |  | 1.9 |  |  | — |  |  | 3.0 |
Pension settlement | — |  |  | — |  |  | 0.4 |  |  | — |  |  | 0.4 |
Loss (gain), net on sale of businesses and related property | — |  |  | 40.3 |  |  | (13.3 | ) |  | — |  |  | 27.0 |
Insurance proceeds for lost profits | — |  |  | (27.4 | ) |  | — |  |  | — |  |  | (27.4 | )
Gain from insurance recoveries, net of losses incurred | — |  |  | (10.9 | ) |  | — |  |  | — |  |  | (10.9 | )
Income from equity method investments | (367.4 | ) |  | (70.3 | ) |  | (9.9 | ) |  | 435.6 |  |  | (12.0 | )
Operating income | 365.4 |  |  | 479.1 |  |  | 101.9 |  |  | (436.9 | ) |  | 509.5 |
Interest expense, net | 9.0 |  |  | 18.5 |  |  | 10.8 |  |  | — |  |  | 38.3 |
Other expense (income), net | — |  |  | 1.5 |  |  | 1.8 |  |  | — |  |  | 3.3 |
Income from continuing operations before income taxes | 356.4 |  |  | 459.1 |  |  | 89.3 |  |  | (436.9 | ) |  | 467.9 |
Provision for income taxes | (2.6 | ) |  | 92.1 |  |  | 18.0 |  |  | 0.1 |  |  | 107.6 |
Income from continuing operations | 359.0 |  |  | 367.0 |  |  | 71.3 |  |  | (437.0 | ) |  | 360.3 |
Loss from discontinued operations | — |  |  | — |  |  | (1.3 | ) |  | — |  |  | (1.3 | )
Net income | $ | 359.0 |  |  | $ | 367.0 |  |  | $ | 70.0 |  |  | $ | (437.0 | ) |  | $ | 359.0 |
Other comprehensive (loss) income | $ | (15.4 | ) |  | $ | (15.3 | ) |  | $ | (0.7 | ) |  | $ | — |  |  | $ | (31.4 | )
Comprehensive Income | $ | 343.6 |  |  | $ | 351.7 |  |  | $ | 69.3 |  |  | $ | (437.0 | ) |  | $ | 327.6 |
Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2017 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 3,295.8 |  |  | $ | 1,144.2 |  |  | $ | (600.4 | ) |  | $ | 3,839.6 |
Cost of goods sold | — |  |  | 2,359.6 |  |  | 953.6 |  |  | (598.8 | ) |  | 2,714.4 |
Gross profit | — |  |  | 936.2 |  |  | 190.6 |  |  | (1.6 | ) |  | 1,125.2 |
Operating expenses: |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses | — |  |  | 553.6 |  |  | 85.0 |  |  | (0.9 | ) |  | 637.7 |
Losses (gains) and other expenses, net | 2.0 |  |  | 3.3 |  |  | 1.9 |  |  | (0.1 | ) |  | 7.1 |
Restructuring charges | — |  |  | 2.1 |  |  | 1.1 |  |  | — |  |  | 3.2 |
Loss (gain), net on sale of businesses and related property | — |  |  | 1.1 |  |  | — |  |  | — |  |  | 1.1 |
(Income) loss from equity method investments | (324.3 | ) |  | (74.9 | ) |  | (14.5 | ) |  | 395.3 |  |  | (18.4 | )
Operational income | 322.3 |  |  | 451.0 |  |  | 117.1 |  |  | (395.9 | ) |  | 494.5 |
Interest expense, net | 26.9 |  |  | (2.7 | ) |  | 6.4 |  |  | — |  |  | 30.6 |
Other income, net | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Income from continuing operations before income taxes | 295.4 |  |  | 453.7 |  |  | 110.8 |  |  | (395.9 | ) |  | 464.0 |
Provision for income taxes | (10.3 | ) |  | 136.2 |  |  | 31.2 |  |  | (0.2 | ) |  | 156.9 |
Income from continuing operations | 305.7 |  |  | 317.5 |  |  | 79.6 |  |  | (395.7 | ) |  | 307.1 |
Loss from discontinued operations | — |  |  | — |  |  | (1.4 | ) |  | — |  |  | (1.4 | )
Net income | $ | 305.7 |  |  | $ | 317.5 |  |  | $ | 78.2 |  |  | $ | (395.7 | ) |  | $ | 305.7 |
Other comprehensive income | $ | 1.7 |  |  | $ | 5.5 |  |  | $ | 30.5 |  |  | $ | — |  |  | $ | 37.7 |
Comprehensive income | $ | 307.4 |  |  | $ | 323.0 |  |  | $ | 108.7 |  |  | $ | (395.7 | ) |  | $ | 343.4 |
Condensed Consolidating Statements of Operations and Comprehensive Income For the Year Ended December 31, 2016 (In millions)
(Amounts 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 |
(Gains) losses and other expenses, net | (3.3 | ) |  | 9.7 |  |  | 5.1 |  |  | (0.2 | ) |  | 11.3 |
Restructuring charges | — |  |  | 1.9 |  |  | (0.1 | ) |  | — |  |  | 1.8 |
Pension settlement | — |  |  | 30.5 |  |  | 0.9 |  |  | — |  |  | 31.4 |
(Income) loss 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 income, 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 cash flows | Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2018 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | 53.7 |  |  | $ | 477.9 |  |  | $ | (36.1 | ) |  | $ | — |  |  | $ | 495.5 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
Proceeds from the disposal of property, plant and equipment | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Purchases of property, plant and equipment | — |  |  | (76.0 | ) |  | (19.2 | ) |  | — |  |  | (95.2 | )
Net proceeds from sale of businesses and related property | — |  |  | 2.7 |  |  | 112.0 |  |  | — |  |  | 114.7 |
Insurance recoveries received for property damage incurred from natural disaster | — |  |  | 10.9 |  |  | — |  |  | — |  |  | 10.9 |
Net cash used in investing activities | — |  |  | (62.4 | ) |  | 92.9 |  |  | — |  |  | 30.5 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Asset securitization borrowings | — |  |  | — |  |  | 155.0 |  |  | — |  |  | 155.0 |
Asset securitization payments | — |  |  | — |  |  | (163.0 | ) |  | — |  |  | (163.0 | )
Long-term debt payments | (30.0 | ) |  | (2.9 | ) |  | (0.1 | ) |  | — |  |  | (33.0 | )
Borrowings from credit facility | 2,435.9 |  |  | — |  |  | — |  |  | — |  |  | 2,435.9 |
Payments on credit facility | (2,365.0 | ) |  | — |  |  | — |  |  | — |  |  | (2,365.0 | )
Proceeds from employee stock purchases | 3.3 |  |  | — |  |  | — |  |  | — |  |  | 3.3 |
Repurchases of common stock to satisfy employee withholding tax obligations | (26.9 | ) |  | — |  |  | — |  |  | — |  |  | (26.9 | )
Repurchases of common stock | (450.2 | ) |  | — |  |  | — |  |  | — |  |  | (450.2 | )
Intercompany debt | (14.5 | ) |  | 83.3 |  |  | (68.8 | ) |  | — |  |  | — |
Intercompany financing activity | 487.8 |  |  | (508.5 | ) |  | 20.7 |  |  | — |  |  | — |
Cash dividends paid | (93.9 | ) |  | — |  |  | — |  |  | — |  |  | (93.9 | )
Net cash provided by (used in) financing activities | (53.5 | ) |  | (428.1 | ) |  | (56.2 | ) |  | — |  |  | (537.8 | )
Increase (decrease) in cash and cash equivalents | 0.2 |  |  | (12.6 | ) |  | 0.6 |  |  | — |  |  | (11.8 | )
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | (10.1 | ) |  | — |  |  | (10.1 | )
Cash and cash equivalents, beginning of year | 1.6 |  |  | 28.0 |  |  | 38.6 |  |  | — |  |  | 68.2 |
Cash and cash equivalents, end of year | $ | 1.8 |  |  | $ | 15.4 |  |  | $ | 29.1 |  |  | $ | — |  |  | $ | 46.3 |
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2017 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | 467.4 |  |  | $ | 31.1 |  |  | $ | (173.4 | ) |  | $ | — |  |  | $ | 325.1 |
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 | — |  |  | (70.7 | ) |  | (27.6 | ) |  | — |  |  | (98.3 | )
Net cash used in investing activities | — |  |  | (70.6 | ) |  | (27.5 | ) |  | — |  |  | (98.1 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Short-term borrowings, net | — |  |  | — |  |  | (1.5 | ) |  | — |  |  | (1.5 | )
Asset securitization borrowings | — |  |  | — |  |  | 315.0 |  |  | — |  |  | 315.0 |
Asset securitization payments | — |  |  | — |  |  | (89.0 | ) |  | — |  |  | (89.0 | )
Borrowings from credit facility | 2,376.5 |  |  | — |  |  | — |  |  | — |  |  | 2,376.5 |
Long-term debt payments | (200.0 | ) |  | (0.3 | ) |  | (0.6 | ) |  | — |  |  | (200.9 | )
Payments on credit facility | (2,265.5 | ) |  | — |  |  | — |  |  | — |  |  | (2,265.5 | )
Payments of deferred financing costs | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Proceeds from employee stock purchases | 3.1 |  |  | — |  |  | — |  |  | — |  |  | 3.1 |
Repurchases of common stock to satisfy employee withholding tax obligations | (26.1 | ) |  | — |  |  | — |  |  | — |  |  | (26.1 | )
Repurchases of common stock | (250.0 | ) |  | — |  |  | — |  |  | — |  |  | (250.0 | )
Intercompany debt | 56.4 |  |  | (34.9 | ) |  | (21.5 | ) |  | — |  |  | — |
Intercompany financing activity | (81.7 | ) |  | 85.6 |  |  | (3.9 | ) |  | — |  |  | — |
Cash dividends paid | (79.7 | ) |  | — |  |  | — |  |  | — |  |  | (79.7 | )
Net cash provided by (used in) financing activities | (467.0 | ) |  | 50.4 |  |  | 198.3 |  |  | — |  |  | (218.3 | )
Increase (decrease) in cash and cash equivalents | 0.4 |  |  | 10.9 |  |  | (2.6 | ) |  | — |  |  | 8.7 |
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 9.3 |  |  | — |  |  | 9.3 |
Cash and cash equivalents, beginning of year | 1.2 |  |  | 17.1 |  |  | 31.9 |  |  | — |  |  | 50.2 |
Cash and cash equivalents, end of year | $ | 1.6 |  |  | $ | 28.0 |  |  | $ | 38.6 |  |  | $ | — |  |  | $ | 68.2 |
Condensed Consolidating Statements of Cash Flows For the Year Ended December 31, 2016 (In millions)
(Amounts in millions) | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows from operating activities: | $ | 17.8 |  |  | $ | 218.5 |  |  | $ | 137.6 |  |  | $ | — |  |  | $ | 373.9 |
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 | )
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 | (17.1 | ) |  | (137.7 | ) |  | (119.8 | ) |  | — |  |  | (274.6 | )
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 |

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

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration