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NEW ACCOUNTING PRONOUNCEMENTS (Tables) | 3 Months Ended
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Mar. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] |
Cumulative Effect on Balance Sheet |
| December 31, 2017 |  | Impact of Adoption of ASC 606 |  | January 1, 2018
Assets |  |  |  |  |
Accounts receivable, net | $ | 267.5 |  |  | $ | (36.0 | ) |  | $ | 231.5 |
Inventories, net | 143.0 |  |  | (40.2 | ) |  | 102.8 |
Contract Assets | — |  |  | 70.7 |  |  | 70.7 |
Other current assets | 97.7 |  |  | (3.6 | ) |  | 94.1 |
Deferred income taxes | 50.9 |  |  | (0.9 | ) |  | 50.0 |
Liabilities |  |  |  |  |
Contract Liabilities | — |  |  | 86.9 |  |  | 86.9 |
Accrued expenses | 292.6 |  |  | (99.0 | ) |  | 193.6 |
Other long-term liabilities | 885.8 |  |  | (1.6 | ) |  | 884.2 |
Equity |  |  |  |  |
Accumulated other comprehensive income | 250.1 |  |  | (0.3 | ) |  | 249.8 |
Retained deficit | $ | (742.3 | ) |  | $ | 4.0 |  |  | $ | (738.3 | )
| Three months ended March 31, 2018
Condensed consolidated statement of operations and comprehensive income | Reported |  | Effect of ASC 606 Adoption |  | Under Prior Revenue Recognition Guidance
Revenues | $ | 351.9 |  |  | $ | (21.4 | ) |  | $ | 330.5 |
Cost of products sold | 261.8 |  |  | (18.8 | ) |  | 243.0 |
Selling, general and administrative | 68.6 |  |  | (0.6 | ) |  | 68.0 |
Operating income | 19.3 |  |  | (2.0 | ) |  | 17.3 |
Income from continuing operations before income taxes | 16.5 |  |  | (2.0 | ) |  | 14.5 |
Income tax provision | (4.1 | ) |  | 0.5 |  |  | (3.6 | )
Income from continuing operations | 12.4 |  |  | (1.5 | ) |  | 10.9 |
Net income | $ | 12.4 |  |  | $ | (1.5 | ) |  | $ | 10.9 |
Comprehensive income | $ | 16.8 |  |  | $ | (1.0 | ) |  | $ | 15.8 |
Basic income per share of common stock: |  |  |  |  |
Income from continuing operations | $ | 0.29 |  |  | $ | (0.04 | ) |  | $ | 0.25 |
Net income per share | $ | 0.29 |  |  | $ | (0.04 | ) |  | $ | 0.25 |
Diluted income per share of common stock: |  |  |  |  |
Income from continuing operations | $ | 0.28 |  |  | $ | (0.03 | ) |  | $ | 0.25 |
Net Income per share | $ | 0.28 |  |  | $ | (0.03 | ) |  | $ | 0.25 |
| As of March 31, 2018
Condensed consolidated balance sheet | Reported |  | Effect of ASC 606 Adoption |  | Under Prior Revenue Recognition Guidance
Accounts receivable, net | $ | 214.7 |  |  | $ | 43.4 |  |  | $ | 258.1 |
Contract assets | 98.3 |  |  | (98.3 | ) |  | — |
Inventories, net | 109.3 |  |  | 58.5 |  |  | 167.8 |
Other current assets | 72.5 |  |  | 4.2 |  |  | 76.7 |
Total current assets | 598.5 |  |  | 7.8 |  |  | 606.3 |
Deferred income taxes | 52.3 |  |  | 1.4 |  |  | 53.7 |
TOTAL ASSETS | $ | 2,012.1 |  |  | $ | 9.2 |  |  | $ | 2,021.3 |
Contract liabilities | $ | 88.5 |  |  | $ | (88.5 | ) |  | $ | — |
Accrued expenses | 180.8 |  |  | 101.1 |  |  | 281.9 |
Total current liabilities | 428.2 |  |  | 12.6 |  |  | 440.8 |
Other long-term liabilities | 872.8 |  |  | 1.6 |  |  | 874.4 |
Total long-term liabilities | $ | 1,250.7 |  |  | $ | 1.6 |  |  | $ | 1,252.3 |
Retained deficit | $ | (730.9 | ) |  | $ | (5.5 | ) |  | $ | (736.4 | )
Accumulated other comprehensive income | 254.5 |  |  | 0.5 |  |  | 255.0 |
Total equity | 333.2 |  |  | (5.0 | ) |  | 328.2 |
TOTAL LIABILITIES AND EQUITY | $ | 2,012.1 |  |  | $ | 9.2 |  |  | $ | 2,021.3 |

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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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