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Financial Information for Subsidiary and Guarantor Parent (Tables) | 12 Months Ended
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Dec. 31, 2018
Financial Information for Subsidiary and Guarantor Parent [Abstract] |
Schedule of condensed consolidating balance sheets | Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2018
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 0.1 |  |  | $ | 10.8 |  |  | $ | 371.1 |  |  | $ | — |  |  | $ | 382.0 |
Accounts receivable, net |  | — |  |  | 126.3 |  |  | 401.5 |  |  | — |  |  | 527.8 |
Intercompany notes receivable |  | — |  |  | — |  |  | 3,968.8 |  |  | (3,968.8 | ) |  | — |
Short-term contract assets |  | — |  |  | — |  |  | 51.2 |  |  | — |  |  | 51.2 |
Inventories, net |  | — |  |  | 216.1 |  |  | 995.0 |  |  | — |  |  | 1,211.1 |
Prepaid expenses and other current assets |  | 12.9 |  |  | 29.3 |  |  | 32.4 |  |  | — |  |  | 74.6 |
Total current assets |  | 13.0 |  |  | 382.5 |  |  | 5,820.0 |  |  | (3,968.8 | ) |  | 2,246.7 |
Property, plant and equipment, net |  | 1.7 |  |  | 1,548.4 |  |  | 924.9 |  |  | — |  |  | 2,475.0 |
Goodwill |  | — |  |  | — |  |  | 534.7 |  |  | — |  |  | 534.7 |
Intercompany notes receivable |  | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investments in subsidiaries |  | 6,096.4 |  |  | 37.7 |  |  | — |  |  | (6,134.1 | ) |  | — |
Other assets |  | 35.6 |  |  | 30.7 |  |  | 179.1 |  |  | — |  |  | 245.4 |
Total assets |  | $ | 6,146.7 |  |  | $ | 1,999.3 |  |  | $ | 7,658.7 |  |  | $ | (10,302.9 | ) |  | $ | 5,501.8 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 3.3 |  |  | $ | 177.5 |  |  | $ | 318.0 |  |  | $ | — |  |  | $ | 498.8 |
Accrued liabilities |  | 59.1 |  |  | 71.7 |  |  | 129.3 |  |  | — |  |  | 260.1 |
Intercompany notes payable |  | 2,102.8 |  |  | 1,866.0 |  |  | — |  |  | (3,968.8 | ) |  | — |
Short-term contract liabilities |  | — |  |  | 33.0 |  |  | 38.4 |  |  | — |  |  | 71.4 |
Short-term debt and current portion of long-term debt |  | 0.2 |  |  | 0.7 |  |  | 5.7 |  |  | — |  |  | 6.6 |
Total current liabilities |  | 2,165.4 |  |  | 2,148.9 |  |  | 491.4 |  |  | (3,968.8 | ) |  | 836.9 |
Long-term debt |  | 1,278.8 |  |  | 151.8 |  |  | 104.9 |  |  | — |  |  | 1,535.5 |
Intercompany notes payable |  | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits |  | — |  |  | 259.2 |  |  | 59.2 |  |  | — |  |  | 318.4 |
Pension liabilities |  | 681.6 |  |  | 4.0 |  |  | 44.4 |  |  | — |  |  | 730.0 |
Deferred income taxes |  | 12.9 |  |  | — |  |  | — |  |  | — |  |  | 12.9 |
Long-term contract liabilities |  | — |  |  | — |  |  | 7.3 |  |  | — |  |  | 7.3 |
Other long-term liabilities |  | 16.4 |  |  | 17.6 |  |  | 35.2 |  |  | — |  |  | 69.2 |
Total liabilities |  | 4,155.1 |  |  | 2,781.5 |  |  | 742.4 |  |  | (4,168.8 | ) |  | 3,510.2 |
Total stockholders’ equity (deficit) |  | 1,991.6 |  |  | (782.2 | ) |  | 6,916.3 |  |  | (6,134.1 | ) |  | 1,991.6 |
Total liabilities and stockholders’ equity |  | $ | 6,146.7 |  |  | $ | 1,999.3 |  |  | $ | 7,658.7 |  |  | $ | (10,302.9 | ) |  | $ | 5,501.8 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Balance Sheets December 31, 2017
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2.1 |  |  | $ | 13.5 |  |  | $ | 126.0 |  |  | $ | — |  |  | $ | 141.6 |
Accounts receivable, net |  | 0.2 |  |  | 141.6 |  |  | 403.5 |  |  | — |  |  | 545.3 |
Intercompany notes receivable |  | — |  |  | — |  |  | 3,505.6 |  |  | (3,505.6 | ) |  | — |
Inventories, net |  | — |  |  | 207.9 |  |  | 968.2 |  |  | — |  |  | 1,176.1 |
Prepaid expenses and other current assets |  | 6.6 |  |  | 4.5 |  |  | 41.6 |  |  | — |  |  | 52.7 |
Total current assets |  | 8.9 |  |  | 367.5 |  |  | 5,044.9 |  |  | (3,505.6 | ) |  | 1,915.7 |
Property, plant and equipment, net |  | 0.9 |  |  | 1,581.6 |  |  | 913.2 |  |  | — |  |  | 2,495.7 |
Goodwill |  | — |  |  | — |  |  | 531.4 |  |  | — |  |  | 531.4 |
Intercompany notes receivable |  | — |  |  | — |  |  | 200.0 |  |  | (200.0 | ) |  | — |
Investments in subsidiaries |  | 5,645.6 |  |  | 37.7 |  |  | — |  |  | (5,683.3 | ) |  | — |
Other assets |  | 25.4 |  |  | 18.0 |  |  | 199.2 |  |  | — |  |  | 242.6 |
Total assets |  | $ | 5,680.8 |  |  | $ | 2,004.8 |  |  | $ | 6,888.7 |  |  | $ | (9,388.9 | ) |  | $ | 5,185.4 |
Liabilities and stockholders’ equity: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 3.0 |  |  | $ | 180.3 |  |  | $ | 236.8 |  |  | $ | — |  |  | $ | 420.1 |
Accrued liabilities |  | 54.1 |  |  | 88.5 |  |  | 139.8 |  |  | — |  |  | 282.4 |
Intercompany notes payable |  | 1,836.5 |  |  | 1,669.1 |  |  | — |  |  | (3,505.6 | ) |  | — |
Short-term debt and current portion of long-term debt |  | 0.3 |  |  | 0.6 |  |  | 9.2 |  |  | — |  |  | 10.1 |
Total current liabilities |  | 1,893.9 |  |  | 1,938.5 |  |  | 385.8 |  |  | (3,505.6 | ) |  | 712.6 |
Long-term debt |  | 1,275.7 |  |  | 150.7 |  |  | 104.2 |  |  | — |  |  | 1,530.6 |
Intercompany notes payable |  | — |  |  | 200.0 |  |  | — |  |  | (200.0 | ) |  | — |
Accrued postretirement benefits |  | — |  |  | 250.2 |  |  | 67.6 |  |  | — |  |  | 317.8 |
Pension liabilities |  | 644.3 |  |  | 4.4 |  |  | 48.3 |  |  | — |  |  | 697.0 |
Deferred income taxes |  | 9.7 |  |  | — |  |  | — |  |  | — |  |  | 9.7 |
Other long-term liabilities |  | 12.7 |  |  | 17.2 |  |  | 43.3 |  |  | — |  |  | 73.2 |
Total liabilities |  | 3,836.3 |  |  | 2,561.0 |  |  | 649.2 |  |  | (3,705.6 | ) |  | 3,340.9 |
Total stockholders’ equity (deficit) |  | 1,844.5 |  |  | (556.2 | ) |  | 6,239.5 |  |  | (5,683.3 | ) |  | 1,844.5 |
Total liabilities and stockholders’ equity |  | $ | 5,680.8 |  |  | $ | 2,004.8 |  |  | $ | 6,888.7 |  |  | $ | (9,388.9 | ) |  | $ | 5,185.4 |
Schedule of condensed consolidating statements of operations | Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2017
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 1,178.9 |  |  | $ | 2,346.2 |  |  | $ | — |  |  | $ | 3,525.1 |
Cost of sales |  | 14.6 |  |  | 1,085.5 |  |  | 1,928.0 |  |  | — |  |  | 3,028.1 |
Gross profit (loss) |  | (14.6 | ) |  | 93.4 |  |  | 418.2 |  |  | — |  |  | 497.0 |
Selling and administrative expenses |  | 86.6 |  |  | 36.9 |  |  | 124.5 |  |  | — |  |  | 248.0 |
Impairment of goodwill |  | — |  |  | — |  |  | 114.4 |  |  | — |  |  | 114.4 |
Operating income (loss) |  | (101.2 | ) |  | 56.5 |  |  | 179.3 |  |  | — |  |  | 134.6 |
Nonoperating retirement benefit expense |  | (32.2 | ) |  | (18.7 | ) |  | (3.4 | ) |  | — |  |  | (54.3 | )
Interest income (expense), net |  | (155.8 | ) |  | (90.0 | ) |  | 112.0 |  |  | — |  |  | (133.8 | )
Debt extinguishment charge |  | (37.0 | ) |  | — |  |  | — |  |  | — |  |  | (37.0 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | 239.7 |  |  | 1.6 |  |  | 2.4 |  |  | (239.7 | ) |  | 4.0 |
Income (loss) before income taxes |  | (86.5 | ) |  | (50.6 | ) |  | 290.3 |  |  | (239.7 | ) |  | (86.5 | )
Income tax provision (benefit) |  | (6.8 | ) |  | (16.6 | ) |  | 131.4 |  |  | (114.8 | ) |  | (6.8 | )
Net income (loss) |  | (79.7 | ) |  | (34.0 | ) |  | 158.9 |  |  | (124.9 | ) |  | (79.7 | )
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 12.2 |  |  | — |  |  | 12.2 |
Net income (loss) attributable to ATI |  | $ | (79.7 | ) |  | $ | (34.0 | ) |  | $ | 146.7 |  |  | $ | (124.9 | ) |  | $ | (91.9 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2018
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 1,410.3 |  |  | $ | 2,636.3 |  |  | $ | — |  |  | $ | 4,046.6 |
Cost of sales |  | 16.6 |  |  | 1,302.4 |  |  | 2,097.3 |  |  | — |  |  | 3,416.3 |
Gross profit (loss) |  | (16.6 | ) |  | 107.9 |  |  | 539.0 |  |  | — |  |  | 630.3 |
Selling and administrative expenses |  | 101.7 |  |  | 34.2 |  |  | 132.3 |  |  | — |  |  | 268.2 |
Operating income (loss) |  | (118.3 | ) |  | 73.7 |  |  | 406.7 |  |  | — |  |  | 362.1 |
Nonoperating retirement benefit expense |  | (12.7 | ) |  | (19.5 | ) |  | (1.7 | ) |  | — |  |  | (33.9 | )
Interest income (expense), net |  | (138.8 | ) |  | (114.6 | ) |  | 152.4 |  |  | — |  |  | (101.0 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | 517.5 |  |  | 16.8 |  |  | 0.8 |  |  | (514.6 | ) |  | 20.5 |
Income (loss) before income taxes |  | 247.7 |  |  | (43.6 | ) |  | 558.2 |  |  | (514.6 | ) |  | 247.7 |
Income tax provision (benefit) |  | 11.0 |  |  | (8.7 | ) |  | 83.9 |  |  | (75.2 | ) |  | 11.0 |
Net income (loss) |  | 236.7 |  |  | (34.9 | ) |  | 474.3 |  |  | (439.4 | ) |  | 236.7 |
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 14.3 |  |  | — |  |  | 14.3 |
Net income (loss) attributable to ATI |  | $ | 236.7 |  |  | $ | (34.9 | ) |  | $ | 460.0 |  |  | $ | (439.4 | ) |  | $ | 222.4 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Operations For the year ended December 31, 2016
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Sales |  | $ | — |  |  | $ | 983.6 |  |  | $ | 2,151.0 |  |  | $ | — |  |  | $ | 3,134.6 |
Cost of sales |  | 18.6 |  |  | 1,080.2 |  |  | 1,813.0 |  |  | — |  |  | 2,911.8 |
Gross profit (loss) |  | (18.6 | ) |  | (96.6 | ) |  | 338.0 |  |  | — |  |  | 222.8 |
Selling and administrative expenses |  | 84.5 |  |  | 31.7 |  |  | 124.6 |  |  | — |  |  | 240.8 |
Restructuring charges |  | — |  |  | 21.7 |  |  | 502.1 |  |  | — |  |  | 523.8 |
Operating loss |  | (103.1 | ) |  | (150.0 | ) |  | (288.7 | ) |  | — |  |  | (541.8 | )
Nonoperating retirement benefit expense |  | (40.2 | ) |  | (25.8 | ) |  | (4.6 | ) |  | — |  |  | (70.6 | )
Interest income (expense), net |  | (138.3 | ) |  | (70.7 | ) |  | 85.0 |  |  | — |  |  | (124.0 | )
Other income (expense) including equity in income of unconsolidated subsidiaries |  | (452.4 | ) |  | 1.0 |  |  | 1.4 |  |  | 452.4 |  |  | 2.4 |
Income (loss) before income taxes |  | (734.0 | ) |  | (245.5 | ) |  | (206.9 | ) |  | 452.4 |  |  | (734.0 | )
Income tax provision (benefit) |  | (106.9 | ) |  | (85.5 | ) |  | (66.7 | ) |  | 152.2 |  |  | (106.9 | )
Net income (loss) |  | (627.1 | ) |  | (160.0 | ) |  | (140.2 | ) |  | 300.2 |  |  | (627.1 | )
Less: Net income attributable to noncontrolling interest |  | — |  |  | — |  |  | 13.8 |  |  | — |  |  | 13.8 |
Net income (loss) attributable to ATI |  | $ | (627.1 | ) |  | $ | (160.0 | ) |  | $ | (154.0 | ) |  | $ | 300.2 |  |  | $ | (640.9 | )
Schedule of condensed consolidating comprehensive income | Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income (Loss) For the year ended December 31, 2016
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | (627.1 | ) |  | $ | (160.0 | ) |  | $ | (140.2 | ) |  | $ | 300.2 |  |  | $ | (627.1 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | (47.1 | ) |  | — |  |  | (47.1 | ) |  | 47.1 |  |  | (47.1 | )
Net derivative gain on hedge transactions |  | 19.6 |  |  | — |  |  | — |  |  | — |  |  | 19.6 |
Pension and postretirement benefits |  | (61.4 | ) |  | 17.2 |  |  | 1.8 |  |  | (19.0 | ) |  | (61.4 | )
Other comprehensive income (loss), net of tax |  | (88.9 | ) |  | 17.2 |  |  | (45.3 | ) |  | 28.1 |  |  | (88.9 | )
Comprehensive income (loss) |  | (716.0 | ) |  | (142.8 | ) |  | (185.5 | ) |  | 328.3 |  |  | (716.0 | )
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 4.1 |  |  | — |  |  | 4.1 |
Comprehensive income (loss) attributable to ATI |  | $ | (716.0 | ) |  | $ | (142.8 | ) |  | $ | (189.6 | ) |  | $ | 328.3 |  |  | $ | (720.1 | )
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income (Loss) For the year ended December 31, 2018
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | 236.7 |  |  | $ | (34.9 | ) |  | $ | 474.3 |  |  | $ | (439.4 | ) |  | $ | 236.7 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | (26.6 | ) |  | — |  |  | (26.6 | ) |  | 26.6 |  |  | (26.6 | )
Net derivative loss on hedge transactions |  | (18.1 | ) |  | — |  |  | — |  |  | — |  |  | (18.1 | )
Pension and postretirement benefits |  | (67.5 | ) |  | (19.1 | ) |  | 0.7 |  |  | 18.4 |  |  | (67.5 | )
Other comprehensive income (loss), net of tax |  | (112.2 | ) |  | (19.1 | ) |  | (25.9 | ) |  | 45.0 |  |  | (112.2 | )
Comprehensive income (loss) |  | 124.5 |  |  | (54.0 | ) |  | 448.4 |  |  | (394.4 | ) |  | 124.5 |
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 8.1 |  |  | — |  |  | 8.1 |
Comprehensive income (loss) attributable to ATI |  | $ | 124.5 |  |  | $ | (54.0 | ) |  | $ | 440.3 |  |  | $ | (394.4 | ) |  | $ | 116.4 |
Allegheny Technologies Incorporated Financial Information for Subsidiary and Guarantor Parent Statements of Comprehensive Income (Loss) For the year ended December 31, 2017
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income (loss) |  | $ | (79.7 | ) |  | $ | (34.0 | ) |  | $ | 158.9 |  |  | $ | (124.9 | ) |  | $ | (79.7 | )
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |
Currency translation adjustment arising during the period |  | 39.1 |  |  | — |  |  | 39.1 |  |  | (39.1 | ) |  | 39.1 |
Net derivative gain on hedge transactions |  | 7.1 |  |  | — |  |  | — |  |  | — |  |  | 7.1 |
Pension and postretirement benefits |  | 27.3 |  |  | (5.8 | ) |  | (10.7 | ) |  | 16.5 |  |  | 27.3 |
Other comprehensive income (loss), net of tax |  | 73.5 |  |  | (5.8 | ) |  | 28.4 |  |  | (22.6 | ) |  | 73.5 |
Comprehensive income (loss) |  | (6.2 | ) |  | (39.8 | ) |  | 187.3 |  |  | (147.5 | ) |  | (6.2 | )
Less: Comprehensive income attributable to noncontrolling interest |  | — |  |  | — |  |  | 19.8 |  |  | — |  |  | 19.8 |
Comprehensive income (loss) attributable to ATI |  | $ | (6.2 | ) |  | $ | (39.8 | ) |  | $ | 167.5 |  |  | $ | (147.5 | ) |  | $ | (26.0 | )
Schedule of condensed consolidating statements of cash flow | Condensed Statements of Cash Flows For the year ended December 31, 2017
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (78.8 | ) |  | $ | (101.5 | ) |  | $ | 214.7 |  |  | $ | (12.0 | ) |  | $ | 22.4 |
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (0.9 | ) |  | (38.5 | ) |  | (83.3 | ) |  | — |  |  | (122.7 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (223.9 | ) |  | 223.9 |  |  | — |
Asset disposals and other |  | — |  |  | 0.1 |  |  | 3.0 |  |  | — |  |  | 3.1 |
Cash flows provided by (used in) investing activities |  | (0.9 | ) |  | (38.4 | ) |  | (304.2 | ) |  | 223.9 |  |  | (119.6 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Borrowings on long-term debt |  | — |  |  | — |  |  | 8.5 |  |  | — |  |  | 8.5 |
Payments on long-term debt and capital leases |  | (350.4 | ) |  | (0.3 | ) |  | (2.3 | ) |  | — |  |  | (353.0 | )
Net borrowings under credit facilities |  | — |  |  | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
Debt issuance costs |  | — |  |  | — |  |  | (0.8 | ) |  | — |  |  | (0.8 | )
Debt extinguishment charge |  | (35.8 | ) |  | — |  |  | — |  |  | — |  |  | (35.8 | )
Net receipts (payments) on intercompany activity |  | 72.7 |  |  | 151.2 |  |  | — |  |  | (223.9 | ) |  | — |
Issuance of common stock |  | 397.8 |  |  | — |  |  | — |  |  | — |  |  | 397.8 |
Dividends paid to stockholders |  | — |  |  | — |  |  | (12.0 | ) |  | 12.0 |  |  | — |
Dividends paid to noncontrolling interests |  | — |  |  | — |  |  | (8.0 | ) |  | — |  |  | (8.0 | )
Sale of noncontrolling interests |  | — |  |  | — |  |  | 3.7 |  |  | — |  |  | 3.7 |
Shares repurchased for income tax withholding on share-based compensation and other |  | (4.8 | ) |  | — |  |  | — |  |  | — |  |  | (4.8 | )
Cash flows provided by (used in) financing activities |  | 79.5 |  |  | 150.9 |  |  | (9.3 | ) |  | (211.9 | ) |  | 9.2 |
Increase (decrease) in cash and cash equivalents |  | $ | (0.2 | ) |  | $ | 11.0 |  |  | $ | (98.8 | ) |  | $ | — |  |  | $ | (88.0 | )
Condensed Statements of Cash Flows For the year ended December 31, 2018
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (107.0 | ) |  | $ | (223.9 | ) |  | $ | 738.7 |  |  | $ | (15.0 | ) |  | $ | 392.8 |
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (2.1 | ) |  | (26.2 | ) |  | (110.9 | ) |  | — |  |  | (139.2 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (346.5 | ) |  | 346.5 |  |  | — |
Purchases of businesses |  | — |  |  | — |  |  | (10.0 | ) |  | — |  |  | (10.0 | )
Asset disposals and other |  | 1.3 |  |  | 2.6 |  |  | 0.2 |  |  | — |  |  | 4.1 |
Cash flows provided by (used in) investing activities |  | (0.8 | ) |  | (23.6 | ) |  | (467.2 | ) |  | 346.5 |  |  | (145.1 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Borrowings on long-term debt |  | — |  |  | — |  |  | 7.1 |  |  | — |  |  | 7.1 |
Payments on long-term debt and capital leases |  | (0.2 | ) |  | (0.9 | ) |  | (5.3 | ) |  | — |  |  | (6.4 | )
Net payments under credit facilities |  | — |  |  | — |  |  | (5.9 | ) |  | — |  |  | (5.9 | )
Net receipts (payments) on intercompany activity |  | 112.5 |  |  | 234.0 |  |  | — |  |  | (346.5 | ) |  | — |
Dividends paid to stockholders |  | — |  |  | — |  |  | (15.0 | ) |  | 15.0 |  |  | — |
Dividends paid to noncontrolling interests |  | — |  |  | — |  |  | (10.0 | ) |  | — |  |  | (10.0 | )
Sale to noncontrolling interests |  | — |  |  | 11.7 |  |  | 2.7 |  |  | — |  |  | 14.4 |
Shares repurchased for income tax withholding on share-based compensation and other |  | (6.5 | ) |  | — |  |  | — |  |  | — |  |  | (6.5 | )
Cash flows provided by (used in) financing activities |  | 105.8 |  |  | 244.8 |  |  | (26.4 | ) |  | (331.5 | ) |  | (7.3 | )
Increase (decrease) in cash and cash equivalents |  | $ | (2.0 | ) |  | $ | (2.7 | ) |  | $ | 245.1 |  |  | $ | — |  |  | $ | 240.4 |
Condensed Statements of Cash Flows For the year ended December 31, 2016
(In millions) |  | Guarantor Parent |  | Subsidiary |  | Non-guarantor Subsidiaries |  | Eliminations |  | Consolidated
Cash flows provided by (used in) operating activities |  | $ | (78.5 | ) |  | $ | (232.3 | ) |  | $ | 291.1 |  |  | $ | (24.0 | ) |  | $ | (43.7 | )
Investing Activities: |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment |  | (0.5 | ) |  | (98.7 | ) |  | (103.0 | ) |  | — |  |  | (202.2 | )
Net receipts (payments) on intercompany activity |  | — |  |  | — |  |  | (160.0 | ) |  | 160.0 |  |  | — |
Asset disposals and other |  | — |  |  | 0.2 |  |  | 2.0 |  |  | — |  |  | 2.2 |
Cash flows provided by (used in) investing activities |  | (0.5 | ) |  | (98.5 | ) |  | (261.0 | ) |  | 160.0 |  |  | (200.0 | )
Financing Activities: |  |  |  |  |  |  |  |  |  |
Borrowings on long-term debt |  | 287.5 |  |  | — |  |  | 100.0 |  |  | — |  |  | 387.5 |
Payments on long-terms debt and capital leases |  | (0.7 | ) |  | (0.2 | ) |  | (1.8 | ) |  | — |  |  | (2.7 | )
Net borrowings under credit facilities |  | — |  |  | — |  |  | 3.1 |  |  | — |  |  | 3.1 |
Debt issuance costs |  | (9.4 | ) |  | — |  |  | (1.0 | ) |  | — |  |  | (10.4 | )
Net receipts (payments) on intercompany activity |  | (170.7 | ) |  | 330.7 |  |  | — |  |  | (160.0 | ) |  | — |
Dividends paid to stockholders |  | (25.8 | ) |  | — |  |  | (24.0 | ) |  | 24.0 |  |  | (25.8 | )
Dividends paid to noncontrolling interests |  | — |  |  | — |  |  | (16.0 | ) |  | — |  |  | (16.0 | )
Acquisition of noncontrolling interest |  | — |  |  | — |  |  | (12.2 | ) |  | — |  |  | (12.2 | )
Cash flows provided by (used in) financing activities |  | 80.9 |  |  | 330.5 |  |  | 48.1 |  |  | (136.0 | ) |  | 323.5 |
Increase (decrease) in cash and cash equivalents |  | $ | 1.9 |  |  | $ | (0.3 | ) |  | $ | 78.2 |  |  | $ | — |  |  | $ | 79.8 |

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