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Financial Statements of Parent Company Guarantor (Tables) | 9 Months Ended
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Sep. 27, 2014 | Sep. 28, 2013
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) | Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 27, 2014
In millions | Parent Company Guarantor | Subsidiary Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Net sales | $ | — |  | $ | — |  | $ | — |  | $ | 1,758.4 |  | $ | — |  | $ | 1,758.4 |
Cost of goods sold | — |  | — |  | — |  | 1,133.7 |  | — |  | 1,133.7 |
Gross profit | — |  | — |  | — |  | 624.7 |  | — |  | 624.7 |
Selling, general and administrative | 3.2 |  | 1.5 |  | 0.8 |  | 323.3 |  | — |  | 328.8 |
Research and development | — |  | — |  | — |  | 28.5 |  | — |  | 28.5 |
Operating income (loss) | (3.2 | ) | (1.5 | ) | (0.8 | ) | 272.9 |  | — |  | 267.4 |
Loss (earnings) from continuing operations of investment in subsidiaries | (195.7 | ) | (198.1 | ) | (206.3 | ) | — |  | 600.1 |  | — |
Other (income) expense: |  |  |  |  |  |
Equity income of unconsolidated subsidiaries | — |  | — |  | — |  | (0.3 | ) | — |  | (0.3 | )
Net interest expense | — |  | 0.9 |  | 1.0 |  | 15.2 |  | — |  | 17.1 |
Income (loss) from continuing operations before income taxes | 192.5 |  | 195.7 |  | 204.5 |  | 258.0 |  | (600.1 | ) | 250.6 |
Provision for income taxes | — |  | — |  | — |  | 58.1 |  | — |  | 58.1 |
Net income (loss) from continuing operations | 192.5 |  | 195.7 |  | 204.5 |  | 199.9 |  | (600.1 | ) | 192.5 |
Income from discontinued operations, net of tax | — |  | — |  | — |  | 1.6 |  | — |  | 1.6 |
Loss from impairment of discontinued operations, net of tax | — |  | — |  | — |  | (380.1 | ) | — |  | (380.1 | )
Earnings (loss) from discontinued operations of investment in subsidiaries | (378.5 | ) | (378.5 | ) | (378.5 | ) | — |  | 1,135.5 |  | — |
Net income (loss) attributable to Pentair plc | $ | (186.0 | ) | $ | (182.8 | ) | $ | (174.0 | ) | $ | (178.6 | ) | $ | 535.4 |  | $ | (186.0 | )
Net income (loss) from continuing operations attributable to Pentair plc | $ | 192.5 |  | $ | 195.7 |  | $ | 204.5 |  | $ | 199.9 |  | $ | (600.1 | ) | $ | 192.5 |
Comprehensive income (loss), net of tax |  |  |  |  |  |
Net income (loss) attributable to Pentair plc | $ | (186.0 | ) | $ | (182.8 | ) | $ | (174.0 | ) | $ | (178.6 | ) | $ | 535.4 |  | $ | (186.0 | )
Changes in cumulative translation adjustment | (178.8 | ) | (178.8 | ) | (178.8 | ) | (178.8 | ) | 536.4 |  | (178.8 | )
Changes in market value of derivative financial instruments | 0.8 |  | 0.8 |  | 0.8 |  | 0.8 |  | (2.4 | ) | 0.8 |
Comprehensive income (loss) attributable to Pentair plc | $ | (364.0 | ) | $ | (360.8 | ) | $ | (352.0 | ) | $ | (356.6 | ) | $ | 1,069.4 |  | $ | (364.0 | )
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 27, 2014
In millions | Parent Company Guarantor | Subsidiary Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Net sales | $ | — |  | $ | — |  | $ | — |  | $ | 5,236.5 |  | $ | — |  | $ | 5,236.5 |
Cost of goods sold | — |  | — |  | — |  | 3,401.4 |  | — |  | 3,401.4 |
Gross profit | — |  | — |  | — |  | 1,835.1 |  | — |  | 1,835.1 |
Selling, general and administrative | 10.6 |  | 4.2 |  | 6.8 |  | 1,049.4 |  | — |  | 1,071.0 |
Research and development | — |  | — |  | — |  | 88.2 |  | — |  | 88.2 |
Operating income (loss) | (10.6 | ) | (4.2 | ) | (6.8 | ) | 697.5 |  | — |  | 675.9 |
Loss (earnings) from continuing operations of investment in subsidiaries | (488.5 | ) | (493.9 | ) | (484.0 | ) | — |  | 1,466.4 |  | — |
Other (income) expense: |  |  |  |  |  |
Equity income of unconsolidated subsidiaries | — |  | — |  | — |  | (0.9 | ) | — |  | (0.9 | )
Loss on sale of business | — |  | — |  | — |  | 0.2 |  | — |  | 0.2 |
Net interest expense | 0.7 |  | 1.2 |  | 2.0 |  | 47.2 |  | — |  | 51.1 |
Income (loss) from continuing operations before income taxes | 477.2 |  | 488.5 |  | 475.2 |  | 651.0 |  | (1,466.4 | ) | 625.5 |
Provision for income taxes | — |  | — |  | 1.0 |  | 147.3 |  | — |  | 148.3 |
Net income (loss) from continuing operations | 477.2 |  | 488.5 |  | 474.2 |  | 503.7 |  | (1,466.4 | ) | 477.2 |
Income from discontinued operations, net of tax | — |  | — |  | — |  | 2.6 |  | — |  | 2.6 |
Loss from sale / impairment of discontinued operations, net of tax | — |  | — |  | — |  | (385.7 | ) | — |  | (385.7 | )
Earnings (loss) from discontinued operations of investment in subsidiaries | (383.1 | ) | (383.1 | ) | (383.1 | ) | — |  | 1,149.3 |  | — |
Net income (loss) attributable to Pentair plc | $ | 94.1 |  | $ | 105.4 |  | $ | 91.1 |  | $ | 120.6 |  | $ | (317.1 | ) | $ | 94.1 |
Net income (loss) from continuing operations attributable to Pentair plc | $ | 477.2 |  | $ | 488.5 |  | $ | 474.2 |  | $ | 503.7 |  | $ | (1,466.4 | ) | $ | 477.2 |
Comprehensive income (loss), net of tax |  |  |  |  |  |
Net income (loss) attributable to Pentair plc | $ | 94.1 |  | $ | 105.4 |  | $ | 91.1 |  | $ | 120.6 |  | $ | (317.1 | ) | $ | 94.1 |
Changes in cumulative translation adjustment | (190.3 | ) | (190.3 | ) | (190.3 | ) | (190.3 | ) | 570.9 |  | (190.3 | )
Changes in market value of derivative financial instruments | 1.2 |  | 1.2 |  | 1.2 |  | 1.2 |  | (3.6 | ) | 1.2 |
Comprehensive income (loss) attributable to Pentair plc | $ | (95.0 | ) | $ | (83.7 | ) | $ | (98.0 | ) | $ | (68.5 | ) | $ | 250.2 |  | $ | (95.0 | )
| Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 28, 2013
In millions | Parent Company Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Net sales | $ | — |  | $ | — |  | $ | 1,713.3 |  | $ | — |  | $ | 1,713.3 |
Cost of goods sold | — |  | — |  | 1,098.6 |  | — |  | 1,098.6 |
Gross profit | — |  | — |  | 614.7 |  | — |  | 614.7 |
Selling, general and administrative | (0.7 | ) | 3.1 |  | 351.0 |  | — |  | 353.4 |
Research and development | — |  | — |  | 31.3 |  | — |  | 31.3 |
Operating income (loss) | 0.7 |  | (3.1 | ) | 232.4 |  | — |  | 230.0 |
Loss (earnings) from continuing operations of investment in subsidiaries | (165.5 | ) | (169.5 | ) | — |  | 335.0 |  | — |
Other (income) expense: |  |  |  |  |
Equity income of unconsolidated subsidiaries | — |  | — |  | (0.5 | ) | — |  | (0.5 | )
Gain on sale of business | — |  | — |  | (0.1 | ) | — |  | (0.1 | )
Net interest expense | 1.3 |  | 0.6 |  | 15.6 |  | — |  | 17.5 |
Income (loss) from continuing operations before income taxes and noncontrolling interest | 164.9 |  | 165.8 |  | 217.4 |  | (335.0 | ) | 213.1 |
Provision (benefit) for income taxes | (0.1 | ) | 1.3 |  | 45.5 |  | — |  | 46.7 |
Net income (loss) from continuing operations before noncontrolling interest | 165.0 |  | 164.5 |  | 171.9 |  | (335.0 | ) | 166.4 |
Income from discontinued operations, net of tax | — |  | — |  | 7.8 |  | — |  | 7.8 |
Earnings (loss) from discontinued operations of investment in subsidiaries | 7.8 |  | 7.8 |  | — |  | (15.6 | ) | — |
Net income (loss) before noncontrolling interest | 172.8 |  | 172.3 |  | 179.7 |  | (350.6 | ) | 174.2 |
Noncontrolling interest | — |  | — |  | 1.4 |  | — |  | 1.4 |
Net income (loss) attributable to Pentair plc | $ | 172.8 |  | $ | 172.3 |  | $ | 178.3 |  | $ | (350.6 | ) | $ | 172.8 |
Net income (loss) from continuing operations attributable to Pentair plc | $ | 165.0 |  | $ | 164.5 |  | $ | 170.5 |  | $ | (335.0 | ) | $ | 165.0 |
Comprehensive income (loss), net of tax |  |  |  |  |
Net income (loss) before noncontrolling interest | $ | 172.8 |  | $ | 172.3 |  | $ | 179.7 |  | $ | (350.6 | ) | $ | 174.2 |
Changes in cumulative translation adjustment | 87.9 |  | 87.9 |  | 89.1 |  | (175.8 | ) | 89.1 |
Changes in market value of derivative financial instruments | (0.6 | ) | (0.6 | ) | (0.6 | ) | 1.2 |  | (0.6 | )
Total comprehensive income (loss) | 260.1 |  | 259.6 |  | 268.2 |  | (525.2 | ) | 262.7 |
Less: Comprehensive income attributable to noncontrolling interest | — |  | — |  | 2.6 |  | — |  | 2.6 |
Comprehensive income (loss) attributable to Pentair plc | $ | 260.1 |  | $ | 259.6 |  | $ | 265.6 |  | $ | (525.2 | ) | $ | 260.1 |
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 28, 2013
In millions | Parent Company Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Net sales | $ | — |  | $ | — |  | $ | 5,168.7 |  | $ | — |  | $ | 5,168.7 |
Cost of goods sold | — |  | — |  | 3,429.1 |  | — |  | 3,429.1 |
Gross profit | — |  | — |  | 1,739.6 |  | — |  | 1,739.6 |
Selling, general and administrative | (1.5 | ) | 10.1 |  | 1,134.9 |  | — |  | 1,143.5 |
Research and development | — |  | — |  | 94.8 |  | — |  | 94.8 |
Operating income (loss) | 1.5 |  | (10.1 | ) | 509.9 |  | — |  | 501.3 |
Loss (earnings) from continuing operations of investment in subsidiaries | (351.3 | ) | (366.6 | ) | — |  | 717.9 |  | — |
Other (income) expense: |  |  |  |  |
Equity income of unconsolidated subsidiaries | — |  | — |  | (1.7 | ) | — |  | (1.7 | )
Gain on sale of business | — |  | — |  | (16.8 | ) | — |  | (16.8 | )
Net interest expense | 4.4 |  | 6.7 |  | 42.7 |  | — |  | 53.8 |
Income (loss) from continuing operations before income taxes and noncontrolling interest | 348.4 |  | 349.8 |  | 485.7 |  | (717.9 | ) | 466.0 |
Provision (benefit) for income taxes | (0.4 | ) | 1.3 |  | 112.0 |  | — |  | 112.9 |
Net income (loss) from continuing operations before noncontrolling interest | 348.8 |  | 348.5 |  | 373.7 |  | (717.9 | ) | 353.1 |
Income from discontinued operations, net of tax | — |  | — |  | 29.8 |  | — |  | 29.8 |
Earnings (loss) from discontinued operations of investment in subsidiaries | 29.8 |  | 29.8 |  | — |  | (59.6 | ) | — |
Net income (loss) before noncontrolling interest | 378.6 |  | 378.3 |  | 403.5 |  | (777.5 | ) | 382.9 |
Noncontrolling interest | — |  | — |  | 4.3 |  | — |  | 4.3 |
Net income (loss) attributable to Pentair plc | $ | 378.6 |  | $ | 378.3 |  | $ | 399.2 |  | $ | (777.5 | ) | $ | 378.6 |
Net income (loss) from continuing operations attributable to Pentair plc | $ | 348.8 |  | $ | 348.5 |  | $ | 369.4 |  | $ | (717.9 | ) | $ | 348.8 |
Comprehensive income (loss), net of tax |  |  |  |  |
Net income (loss) before noncontrolling interest | $ | 378.6 |  | $ | 378.3 |  | $ | 403.5 |  | $ | (777.5 | ) | $ | 382.9 |
Changes in cumulative translation adjustment | (29.8 | ) | (29.8 | ) | (29.1 | ) | 59.6 |  | (29.1 | )
Changes in market value of derivative financial instruments | (0.3 | ) | (0.3 | ) | (0.3 | ) | 0.6 |  | (0.3 | )
Total comprehensive income (loss) | 348.5 |  | 348.2 |  | 374.1 |  | (717.3 | ) | 353.5 |
Less: Comprehensive income attributable to noncontrolling interest | — |  | — |  | 5.0 |  | — |  | 5.0 |
Comprehensive income (loss) attributable to Pentair plc | $ | 348.5 |  | $ | 348.2 |  | $ | 369.1 |  | $ | (717.3 | ) | $ | 348.5 |
Schedule of Condensed Consolidating Balance Sheet | Consolidating Balance Sheet September 27, 2014
In millions | Parent Company Guarantor | Subsidiary Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Assets
Current assets |  |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | — |  | $ | 0.2 |  | $ | 156.4 |  | $ | — |  | $ | 156.6 |
Accounts and notes receivable, net | — |  | — |  | — |  | 1,180.9 |  | — |  | 1,180.9 |
Inventories | — |  | — |  | — |  | 1,199.4 |  | — |  | 1,199.4 |
Other current assets | 0.1 |  | 16.3 |  | 8.0 |  | 402.5 |  | (40.6 | ) | 386.3 |
Current assets held for sale | — |  | — |  | — |  | 129.2 |  | — |  | 129.2 |
Total current assets | 0.1 |  | 16.3 |  | 8.2 |  | 3,068.4 |  | (40.6 | ) | 3,052.4 |
Property, plant and equipment, net | — |  | — |  | — |  | 990.8 |  | — |  | 990.8 |
Other assets |  |  |  |  |  |
Investments in subsidiaries | 5,589.5 |  | 5,751.6 |  | 7,830.7 |  | — |  | (19,171.8 | ) | — |
Goodwill | — |  | — |  | — |  | 4,792.6 |  | — |  | 4,792.6 |
Intangibles, net | — |  | — |  | — |  | 1,648.6 |  | — |  | 1,648.6 |
Other non-current assets | 31.6 |  | — |  | 1,979.7 |  | 370.6 |  | (1,975.6 | ) | 406.3 |
Non-current assets held for sale | — |  | — |  | — |  | 36.2 |  | — |  | 36.2 |
Total other assets | 5,621.1 |  | 5,751.6 |  | 9,810.4 |  | 6,848.0 |  | (21,147.4 | ) | 6,883.7 |
Total assets | $ | 5,621.2 |  | $ | 5,767.9 |  | $ | 9,818.6 |  | $ | 10,907.2 |  | $ | (21,188.0 | ) | $ | 10,926.9 |
Liabilities and Equity
Current liabilities |  |  |  |  |  |
Current maturities of long-term debt and short-term borrowings | $ | — |  | $ | — |  | $ | — |  | $ | 2.5 |  | $ | — |  | $ | 2.5 |
Accounts payable | — |  | — |  | — |  | 527.2 |  | — |  | 527.2 |
Employee compensation and benefits | — |  | 0.7 |  | — |  | 286.7 |  | — |  | 287.4 |
Other current liabilities | 173.4 |  | 4.5 |  | 14.2 |  | 639.6 |  | (40.6 | ) | 791.1 |
Current liabilities held for sale | — |  | — |  | — |  | 60.5 |  | — |  | 60.5 |
Total current liabilities | 173.4 |  | 5.2 |  | 14.2 |  | 1,516.5 |  | (40.6 | ) | 1,668.7 |
Other liabilities |  |  |  |  |  |
Long-term debt | 462.8 |  | 173.2 |  | 2,818.6 |  | 1,481.7 |  | (1,975.6 | ) | 2,960.7 |
Pension and other post-retirement compensation and benefits | — |  | — |  | — |  | 279.1 |  | — |  | 279.1 |
Deferred tax liabilities | — |  | — |  | 2.2 |  | 556.2 |  | — |  | 558.4 |
Other non-current liabilities | 17.6 |  | — |  | — |  | 463.1 |  | — |  | 480.7 |
Non-current liabilities held for sale | — |  | — |  | — |  | 11.9 |  | — |  | 11.9 |
Total liabilities | 653.8 |  | 178.4 |  | 2,835.0 |  | 4,308.5 |  | (2,016.2 | ) | 5,959.5 |
Equity | 4,967.4 |  | 5,589.5 |  | 6,983.6 |  | 6,598.7 |  | (19,171.8 | ) | 4,967.4 |
Total liabilities and equity | $ | 5,621.2 |  | $ | 5,767.9 |  | $ | 9,818.6 |  | $ | 10,907.2 |  | $ | (21,188.0 | ) | $ | 10,926.9 |
Consolidating Balance Sheet December 31, 2013
In millions | Parent Company Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Assets
Current assets |  |  |  |  |
Cash and cash equivalents | $ | 0.5 |  | $ | 47.0 |  | $ | 208.5 |  | $ | — |  | $ | 256.0 |
Accounts and notes receivable, net | 2.9 |  | 4.0 |  | 1,341.7 |  | (63.6 | ) | 1,285.0 |
Inventories | — |  | — |  | 1,195.1 |  | — |  | 1,195.1 |
Other current assets | 1.4 |  | 0.6 |  | 359.6 |  | — |  | 361.6 |
Current assets held for sale | — |  | — |  | 134.4 |  | — |  | 134.4 |
Total current assets | 4.8 |  | 51.6 |  | 3,239.3 |  | (63.6 | ) | 3,232.1 |
Property, plant and equipment, net | — |  | — |  | 1,044.3 |  | — |  | 1,044.3 |
Other assets |  |  |  |  |
Investments in subsidiaries | 6,224.7 |  | 8,066.6 |  | — |  | (14,291.3 | ) | — |
Goodwill | — |  | — |  | 4,860.7 |  | — |  | 4,860.7 |
Intangibles, net | — |  | — |  | 1,749.9 |  | — |  | 1,749.9 |
Other non-current assets | 31.6 |  | 1,302.7 |  | 352.4 |  | (1,296.7 | ) | 390.0 |
Non-current assets held for sale | — |  | — |  | 466.3 |  | — |  | 466.3 |
Total other assets | 6,256.3 |  | 9,369.3 |  | 7,429.3 |  | (15,588.0 | ) | 7,466.9 |
Total assets | $ | 6,261.1 |  | $ | 9,420.9 |  | $ | 11,712.9 |  | $ | (15,651.6 | ) | $ | 11,743.3 |
Liabilities and Equity
Current liabilities |  |  |  |  |
Current maturities of long-term debt and short-term borrowings | $ | — |  | $ | — |  | $ | 2.5 |  | $ | — |  | $ | 2.5 |
Accounts payable | 48.1 |  | 8.6 |  | 583.8 |  | (63.6 | ) | 576.9 |
Employee compensation and benefits | 0.5 |  | — |  | 311.9 |  | — |  | 312.4 |
Other current liabilities | 99.6 |  | 11.7 |  | 534.6 |  | — |  | 645.9 |
Current liabilities held for sale | — |  | — |  | 72.5 |  | — |  | 72.5 |
Total current liabilities | 148.2 |  | 20.3 |  | 1,505.3 |  | (63.6 | ) | 1,610.2 |
Other liabilities |  |  |  |  |
Long-term debt | — |  | 2,401.9 |  | 1,442.7 |  | (1,296.7 | ) | 2,547.9 |
Pension and other post-retirement compensation and benefits | — |  | — |  | 320.2 |  | — |  | 320.2 |
Deferred tax liabilities | — |  | 2.2 |  | 554.8 |  | — |  | 557.0 |
Other non-current liabilities | 17.6 |  | — |  | 438.8 |  | — |  | 456.4 |
Non-current liabilities held for sale | — |  | — |  | 33.9 |  | — |  | 33.9 |
Total liabilities | 165.8 |  | 2,424.4 |  | 4,295.7 |  | (1,360.3 | ) | 5,525.6 |
Equity |  |  |  |  |
Shareholders’ equity attributable to Pentair plc and subsidiaries | 6,095.3 |  | 6,996.5 |  | 7,294.8 |  | (14,291.3 | ) | 6,095.3 |
Noncontrolling interest | — |  | — |  | 122.4 |  | — |  | 122.4 |
Total equity | 6,095.3 |  | 6,996.5 |  | 7,417.2 |  | (14,291.3 | ) | 6,217.7 |
Total liabilities and equity | $ | 6,261.1 |  | $ | 9,420.9 |  | $ | 11,712.9 |  | $ | (15,651.6 | ) | $ | 11,743.3 |
Schedule of Condensed Consolidating Statement of Cash Flows | Consolidating Statement of Cash Flows Nine months ended September 27, 2014
In millions | Parent Company Guarantor | Subsidiary Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Operating activities |  |  |  |  |  |
Net cash provided by (used for) operating activities | $ | 99.4 |  | $ | 94.2 |  | $ | 88.1 |  | $ | 718.8 |  | $ | (317.1 | ) | $ | 683.4 |
Investing activities |  |  |  |  |  |
Capital expenditures | — |  | — |  | — |  | (92.5 | ) | — |  | (92.5 | )
Proceeds from sale of property and equipment | — |  | — |  | — |  | 4.1 |  | — |  | 4.1 |
Proceeds from sale of businesses, net | — |  | — |  | — |  | 0.3 |  | — |  | 0.3 |
Other | — |  | — |  | — |  | 0.6 |  | — |  | 0.6 |
Net cash provided by (used for) investing activities | — |  | — |  | — |  | (87.5 | ) | — |  | (87.5 | )
Financing activities |  |  |  |  |  |
Net receipts (repayments) of short-term borrowings | — |  | — |  | — |  | 0.3 |  | — |  | 0.3 |
Net receipts (repayments) of commercial paper and revolving long-term debt | — |  | — |  | 416.7 |  | 9.5 |  | — |  | 426.2 |
Repayments of long-term debt | — |  | — |  | — |  | (13.2 | ) | — |  | (13.2 | )
Net change in advances to subsidiaries | 455.6 |  | (94.2 | ) | (551.6 | ) | (126.9 | ) | 317.1 |  | — |
Excess tax benefits from share-based compensation | — |  | — |  | — |  | 10.0 |  | — |  | 10.0 |
Shares issued to employees, net of shares withheld | — |  | — |  | — |  | 30.3 |  | — |  | 30.3 |
Repurchases of ordinary shares | (399.3 | ) | — |  | — |  | (450.7 | ) | — |  | (850.0 | )
Dividends paid | (156.2 | ) | — |  | — |  | — |  | — |  | (156.2 | )
Purchase of noncontrolling interest | — |  | — |  | — |  | (134.7 | ) | — |  | (134.7 | )
Net cash provided by (used for) financing activities | (99.9 | ) | (94.2 | ) | (134.9 | ) | (675.4 | ) | 317.1 |  | (687.3 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | — |  | — |  | (8.0 | ) | — |  | (8.0 | )
Change in cash and cash equivalents | (0.5 | ) | — |  | (46.8 | ) | (52.1 | ) | — |  | (99.4 | )
Cash and cash equivalents, beginning of period | 0.5 |  | — |  | 47.0 |  | 208.5 |  | — |  | 256.0 |
Cash and cash equivalents, end of period | $ | — |  | $ | — |  | $ | 0.2 |  | $ | 156.4 |  | $ | — |  | $ | 156.6 |
| Consolidating Statement of Cash Flows Nine months ended September 28, 2013
In millions | Parent Company Guarantor | Subsidiary Issuer | Non-guarantor Subsidiaries | Eliminations | Consolidated Total
Operating activities |  |  |  |  |
Net cash provided by (used for) operating activities | $ | 369.0 |  | $ | 383.4 |  | $ | 659.1 |  | $ | (777.5 | ) | $ | 634.0 |
Investing activities |  |  |  |  |
Capital expenditures | — |  | — |  | (126.3 | ) | — |  | (126.3 | )
Proceeds from sale of property and equipment | — |  | — |  | 3.7 |  | — |  | 3.7 |
Proceeds from sale of businesses, net | — |  | — |  | 30.9 |  | — |  | 30.9 |
Acquisitions, net of cash acquired | (84.4 | ) | — |  | — |  | — |  | (84.4 | )
Other | — |  | — |  | (0.8 | ) | — |  | (0.8 | )
Net cash provided by (used for) investing activities | (84.4 | ) | — |  | (92.5 | ) | — |  | (176.9 | )
Financing activities |  |  |  |  |
Net receipts (repayments) of commercial paper and revolving long-term debt | — |  | 114.9 |  | 7.6 |  | — |  | 122.5 |
Repayments of long-term debt | — |  | — |  | (6.2 | ) | — |  | (6.2 | )
Debt issuance costs | — |  | (1.4 | ) | — |  | — |  | (1.4 | )
Excess tax benefits from share-based compensation | — |  | — |  | 7.4 |  | — |  | 7.4 |
Net change in advances to subsidiaries | (140.7 | ) | (496.7 | ) | (140.1 | ) | 777.5 |  | — |
Shares issued to employees, net of shares withheld | — |  | — |  | 70.8 |  | — |  | 70.8 |
Repurchases of ordinary shares | — |  | — |  | (540.3 | ) | — |  | (540.3 | )
Dividends paid | (143.9 | ) | — |  | — |  | — |  | (143.9 | )
Distributions to noncontrolling interest | — |  | — |  | (2.0 | ) | — |  | (2.0 | )
Net cash provided by (used for) financing activities | (284.6 | ) | (383.2 | ) | (602.8 | ) | 777.5 |  | (493.1 | )
Effect of exchange rate changes on cash and cash equivalents | — |  | — |  | 17.8 |  | — |  | 17.8 |
Change in cash and cash equivalents | — |  | 0.2 |  | (18.4 | ) | — |  | (18.2 | )
Cash and cash equivalents, beginning of period | — |  | — |  | 237.4 |  | — |  | 237.4 |
Cash and cash equivalents, end of period | $ | — |  | $ | 0.2 |  | $ | 219.0 |  | $ | — |  | $ | 219.2 |

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