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Condensed consolidating guarantor financial information (Tables) | 12 Months Ended
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Dec. 31, 2015
Condensed Consolidated Guarantor Financial Information [Abstract] |
Condensed Consolidating Statements of Income (Loss) and Comprehensive Income (Loss) | CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Year Ended December 31, 2015
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 1,079,180 |  |  | $ | 1,107,565 |  |  | $ | (377,055 | ) |  | $ | 1,809,690 |
Cost of goods sold | — |  |  | 646,427 |  |  | 593,855 |  |  | (374,995 | ) |  | 865,287 |
Gross profit | — |  |  | 432,753 |  |  | 513,710 |  |  | (2,060 | ) |  | 944,403 |
Selling, general and administrative expenses | 42,435 |  |  | 336,049 |  |  | 191,029 |  |  | (531 | ) |  | 568,982 |
Research and development expenses | — |  |  | 30,359 |  |  | 21,760 |  |  | — |  |  | 52,119 |
Restructuring charges | — |  |  | 6,731 |  |  | 1,088 |  |  | — |  |  | 7,819 |
Gain on sale of assets | — |  |  | — |  |  | (408 | ) |  | — |  |  | (408 | )
(Loss) income from continuing operations before interest, loss on extinguishment of debt and taxes | (42,435 | ) |  | 59,614 |  |  | 300,241 |  |  | (1,529 | ) |  | 315,891 |
Interest, net | 132,711 |  |  | (76,873 | ) |  | 4,953 |  |  | — |  |  | 60,791 |
Loss on extinguishment of debt | 10,454 |  |  | — |  |  | — |  |  | — |  |  | 10,454 |
(Loss) income from continuing operations before taxes | (185,600 | ) |  | 136,487 |  |  | 295,288 |  |  | (1,529 | ) |  | 244,646 |
(Benefit) taxes on (loss) income from continuing operations | (66,264 | ) |  | 27,260 |  |  | 46,804 |  |  | 38 |  |  | 7,838 |
Equity in net income of consolidated subsidiaries | 355,138 |  |  | 235,810 |  |  | 1,086 |  |  | (592,034 | ) |  | — |
Income from continuing operations | 235,802 |  |  | 345,037 |  |  | 249,570 |  |  | (593,601 | ) |  | 236,808 |
Operating (loss) income from discontinued operations | (1,734 | ) |  | — |  |  | 4 |  |  | — |  |  | (1,730 | )
(Benefit) taxes on (loss) income from discontinued operations | (10,795 | ) |  | — |  |  | 160 |  |  | — |  |  | (10,635 | )
Income (loss) from discontinued operations | 9,061 |  |  | — |  |  | (156 | ) |  | — |  |  | 8,905 |
Net income | 244,863 |  |  | 345,037 |  |  | 249,414 |  |  | (593,601 | ) |  | 245,713 |
Less: Income from continuing operations attributable to noncontrolling interest | — |  |  | — |  |  | 850 |  |  | — |  |  | 850 |
Net income attributable to common shareholders | 244,863 |  |  | 345,037 |  |  | 248,564 |  |  | (593,601 | ) |  | 244,863 |
Other comprehensive loss attributable to common shareholders | (110,229 | ) |  | (110,604 | ) |  | (120,439 | ) |  | 231,043 |  |  | (110,229 | )
Comprehensive income attributable to common shareholders | $ | 134,634 |  |  | $ | 234,433 |  |  | $ | 128,125 |  |  | $ | (362,558 | ) |  | $ | 134,634 |
| Year Ended December 31, 2014
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 1,078,851 |  |  | $ | 1,132,152 |  |  | $ | (371,171 | ) |  | $ | 1,839,832 |
Cost of goods sold | — |  |  | 652,742 |  |  | 608,256 |  |  | (363,594 | ) |  | 897,404 |
Gross profit | — |  |  | 426,109 |  |  | 523,896 |  |  | (7,577 | ) |  | 942,428 |
Selling, general and administrative expenses | 42,829 |  |  | 326,282 |  |  | 209,930 |  |  | (384 | ) |  | 578,657 |
Research and development expenses | — |  |  | 40,546 |  |  | 20,494 |  |  | — |  |  | 61,040 |
Restructuring charges | — |  |  | 10,189 |  |  | 7,680 |  |  | — |  |  | 17,869 |
(Loss) income from continuing operations before interest and taxes | (42,829 | ) |  | 49,092 |  |  | 285,792 |  |  | (7,193 | ) |  | 284,862 |
Interest, net | 144,869 |  |  | (85,886 | ) |  | 5,769 |  |  | — |  |  | 64,752 |
(Loss) income from continuing operations before taxes | (187,698 | ) |  | 134,978 |  |  | 280,023 |  |  | (7,193 | ) |  | 220,110 |
(Benefit) taxes on (loss) income from continuing operations | (68,307 | ) |  | 68,690 |  |  | 28,159 |  |  | 108 |  |  | 28,650 |
Equity in net income of consolidated subsidiaries | 308,396 |  |  | 233,827 |  |  | 252 |  |  | (542,475 | ) |  | — |
Income from continuing operations | 189,005 |  |  | 300,115 |  |  | 252,116 |  |  | (549,776 | ) |  | 191,460 |
Operating loss from discontinued operations | (2,196 | ) |  | — |  |  | (1,211 | ) |  | — |  |  | (3,407 | )
(Benefit) taxes on loss from discontinued operations | (870 | ) |  | — |  |  | 172 |  |  | — |  |  | (698 | )
Loss from discontinued operations | (1,326 | ) |  | — |  |  | (1,383 | ) |  | — |  |  | (2,709 | )
Net income | 187,679 |  |  | 300,115 |  |  | 250,733 |  |  | (549,776 | ) |  | 188,751 |
Less: Income from continuing operations attributable to noncontrolling interests | — |  |  | — |  |  | 1,072 |  |  | — |  |  | 1,072 |
Net income attributable to common shareholders | 187,679 |  |  | 300,115 |  |  | 249,661 |  |  | (549,776 | ) |  | 187,679 |
Other comprehensive loss attributable to common shareholders | (150,040 | ) |  | (105,872 | ) |  | (126,317 | ) |  | 232,189 |  |  | (150,040 | )
Comprehensive income attributable to common shareholders | $ | 37,639 |  |  | $ | 194,243 |  |  | $ | 123,344 |  |  | $ | (317,587 | ) |  | $ | 37,639 |
| Year Ended December 31, 2013
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 1,001,404 |  |  | $ | 963,184 |  |  | $ | (268,317 | ) |  | $ | 1,696,271 |
Cost of goods sold | — |  |  | 582,110 |  |  | 543,717 |  |  | (268,501 | ) |  | 857,326 |
Gross profit | — |  |  | 419,294 |  |  | 419,467 |  |  | 184 |  |  | 838,945 |
Selling, general and administrative expenses | 39,176 |  |  | 284,960 |  |  | 178,358 |  |  | (307 | ) |  | 502,187 |
Research and development expenses | — |  |  | 55,694 |  |  | 9,351 |  |  | — |  |  | 65,045 |
Restructuring and other impairment charges | 935 |  |  | 15,288 |  |  | 22,229 |  |  | — |  |  | 38,452 |
(Loss) income from continuing operations before interest, loss on extinguishment of debt and taxes | (40,111 | ) |  | 63,352 |  |  | 209,529 |  |  | 491 |  |  | 233,261 |
Interest, net | 134,864 |  |  | (85,063 | ) |  | 6,480 |  |  | — |  |  | 56,281 |
Loss on extinguishment of debt | 1,250 |  |  | — |  |  | — |  |  | — |  |  | 1,250 |
(Loss) income from continuing operations before taxes | (176,225 | ) |  | 148,415 |  |  | 203,049 |  |  | 491 |  |  | 175,730 |
(Benefit) taxes on (loss) income from continuing operations | (63,857 | ) |  | 42,804 |  |  | 45,354 |  |  | (754 | ) |  | 23,547 |
Equity in net income of consolidated subsidiaries | 263,469 |  |  | 141,773 |  |  | 288 |  |  | (405,530 | ) |  | — |
Income from continuing operations | 151,101 |  |  | 247,384 |  |  | 157,983 |  |  | (404,285 | ) |  | 152,183 |
Operating loss from discontinued operations | (1,947 | ) |  | — |  |  | (258 | ) |  | — |  |  | (2,205 | )
(Benefit) taxes on loss from discontinued operations | (1,727 | ) |  | (170 | ) |  | 127 |  |  | — |  |  | (1,770 | )
(Loss) income from discontinued operations | (220 | ) |  | 170 |  |  | (385 | ) |  | — |  |  | (435 | )
Net income | 150,881 |  |  | 247,554 |  |  | 157,598 |  |  | (404,285 | ) |  | 151,748 |
Less: Income from continuing operations attributable to noncontrolling interests | — |  |  | — |  |  | 867 |  |  | — |  |  | 867 |
Net income attributable to common shareholders | 150,881 |  |  | 247,554 |  |  | 156,731 |  |  | (404,285 | ) |  | 150,881 |
Other comprehensive income (loss) attributable to common shareholders | 21,193 |  |  | (5,304 | ) |  | 5,442 |  |  | (138 | ) |  | 21,193 |
Comprehensive income attributable to common shareholders | $ | 172,074 |  |  | $ | 242,250 |  |  | $ | 162,173 |  |  | $ | (404,423 | ) |  | $ | 172,074 |
Condensed Consolidating Balance Sheets |
| December 31, 2015
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 21,612 |  |  | $ | — |  |  | $ | 316,754 |  |  | $ | — |  |  | $ | 338,366 |
Accounts receivable, net | 2,538 |  |  | 4,326 |  |  | 251,166 |  |  | 4,386 |  |  | 262,416 |
Accounts receivable from consolidated subsidiaries | 5,276 |  |  | 2,412,079 |  |  | 289,697 |  |  | (2,707,052 | ) |  | — |
Inventories, net | — |  |  | 205,163 |  |  | 149,705 |  |  | (24,593 | ) |  | 330,275 |
Prepaid expenses and other current assets | 13,103 |  |  | 4,702 |  |  | 16,037 |  |  | 3,665 |  |  | 37,507 |
Prepaid taxes | 16,686 |  |  | — |  |  | 14,622 |  |  | (413 | ) |  | 30,895 |
Assets held for sale | 2,901 |  |  | — |  |  | 4,071 |  |  | — |  |  | 6,972 |
Total current assets | 62,116 |  |  | 2,626,270 |  |  | 1,042,052 |  |  | (2,724,007 | ) |  | 1,006,431 |
Property, plant and equipment, net | 2,931 |  |  | 174,674 |  |  | 138,518 |  |  | — |  |  | 316,123 |
Goodwill | — |  |  | 705,753 |  |  | 590,099 |  |  | — |  |  | 1,295,852 |
Intangibles assets, net | — |  |  | 762,084 |  |  | 437,891 |  |  | — |  |  | 1,199,975 |
Investments in affiliates | 5,724,226 |  |  | 1,360,045 |  |  | 23,065 |  |  | (7,107,184 | ) |  | 152 |
Deferred tax assets | 91,432 |  |  | — |  |  | 8,042 |  |  | (97,133 | ) |  | 2,341 |
Notes receivable and other amounts due from consolidated subsidiaries | 1,358,446 |  |  | 1,658,092 |  |  | — |  |  | (3,016,538 | ) |  | — |
Other assets | 26,752 |  |  | 6,615 |  |  | 24,275 |  |  | — |  |  | 57,642 |
Total assets | $ | 7,265,903 |  |  | $ | 7,293,533 |  |  | $ | 2,263,942 |  |  | $ | (12,944,862 | ) |  | $ | 3,878,516 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Current borrowings | $ | 376,642 |  |  | $ | — |  |  | $ | 43,300 |  |  | $ | — |  |  | $ | 419,942 |
Accounts payable | 1,945 |  |  | 27,527 |  |  | 36,833 |  |  | — |  |  | 66,305 |
Accounts payable to consolidated subsidiaries | 2,478,109 |  |  | 201,400 |  |  | 27,543 |  |  | (2,707,052 | ) |  | — |
Accrued expenses | 15,399 |  |  | 22,281 |  |  | 26,337 |  |  | — |  |  | 64,017 |
Current portion of contingent consideration | — |  |  | 7,291 |  |  | — |  |  | — |  |  | 7,291 |
Payroll and benefit-related liabilities | 21,617 |  |  | 29,305 |  |  | 33,736 |  |  | — |  |  | 84,658 |
Accrued interest | 7,455 |  |  | — |  |  | 25 |  |  | — |  |  | 7,480 |
Income taxes payable | — |  |  | — |  |  | 8,144 |  |  | (85 | ) |  | 8,059 |
Other current liabilities | 1,300 |  |  | 2,679 |  |  | 4,981 |  |  | — |  |  | 8,960 |
Total current liabilities | 2,902,467 |  |  | 290,483 |  |  | 180,899 |  |  | (2,707,137 | ) |  | 666,712 |
Long-term borrowings | 646,000 |  |  | — |  |  | — |  |  | — |  |  | 646,000 |
Deferred tax liabilities | — |  |  | 376,738 |  |  | 36,378 |  |  | (97,133 | ) |  | 315,983 |
Pension and other postretirement benefit liabilities | 100,355 |  |  | 32,274 |  |  | 16,812 |  |  | — |  |  | 149,441 |
Noncurrent liability for uncertain tax positions | 1,151 |  |  | 17,722 |  |  | 21,527 |  |  | — |  |  | 40,400 |
Notes payable and other amounts due to consolidated subsidiaries | 1,585,727 |  |  | 1,253,189 |  |  | 177,622 |  |  | (3,016,538 | ) |  | — |
Other liabilities | 20,931 |  |  | 15,685 |  |  | 12,271 |  |  | — |  |  | 48,887 |
Total liabilities | 5,256,631 |  |  | 1,986,091 |  |  | 445,509 |  |  | (5,820,808 | ) |  | 1,867,423 |
Total common shareholders' equity | 2,009,272 |  |  | 5,307,442 |  |  | 1,816,612 |  |  | (7,124,054 | ) |  | 2,009,272 |
Noncontrolling interest | — |  |  | — |  |  | 1,821 |  |  | — |  |  | 1,821 |
Total equity | 2,009,272 |  |  | 5,307,442 |  |  | 1,818,433 |  |  | (7,124,054 | ) |  | 2,011,093 |
Total liabilities and equity | $ | 7,265,903 |  |  | $ | 7,293,533 |  |  | $ | 2,263,942 |  |  | $ | (12,944,862 | ) |  | $ | 3,878,516 |
| December 31, 2014
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 27,996 |  |  | $ | — |  |  | $ | 275,240 |  |  | $ | — |  |  | $ | 303,236 |
Accounts receivable, net | 2,346 |  |  | 2,422 |  |  | 265,081 |  |  | 3,855 |  |  | 273,704 |
Accounts receivable from consolidated subsidiaries | 35,996 |  |  | 2,303,284 |  |  | 272,810 |  |  | (2,612,090 | ) |  | — |
Inventories, net | — |  |  | 204,335 |  |  | 154,544 |  |  | (23,286 | ) |  | 335,593 |
Prepaid expenses and other current assets | 14,301 |  |  | 4,786 |  |  | 13,102 |  |  | 3,508 |  |  | 35,697 |
Prepaid taxes | 23,493 |  |  | — |  |  | 16,763 |  |  | — |  |  | 40,256 |
Assets held for sale | 2,901 |  |  | — |  |  | 4,521 |  |  | — |  |  | 7,422 |
Total current assets | 107,033 |  |  | 2,514,827 |  |  | 1,002,061 |  |  | (2,628,013 | ) |  | 995,908 |
Property, plant and equipment, net | 3,489 |  |  | 170,054 |  |  | 143,892 |  |  | — |  |  | 317,435 |
Goodwill | — |  |  | 703,663 |  |  | 619,890 |  |  | — |  |  | 1,323,553 |
Intangibles assets, net | — |  |  | 743,222 |  |  | 473,498 |  |  | — |  |  | 1,216,720 |
Investments in affiliates | 5,680,328 |  |  | 1,359,661 |  |  | 21,253 |  |  | (7,060,092 | ) |  | 1,150 |
Deferred tax assets | 82,492 |  |  | — |  |  | 6,867 |  |  | (85,348 | ) |  | 4,011 |
Notes receivable and other amounts due from consolidated subsidiaries | 1,009,686 |  |  | 1,489,994 |  |  | — |  |  | (2,499,680 | ) |  | — |
Other assets | 27,999 |  |  | 6,801 |  |  | 29,210 |  |  | — |  |  | 64,010 |
Total assets | $ | 6,911,027 |  |  | $ | 6,988,222 |  |  | $ | 2,296,671 |  |  | $ | (12,273,133 | ) |  | $ | 3,922,787 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Current borrowings | $ | 363,701 |  |  | $ | — |  |  | $ | 4,700 |  |  | $ | — |  |  | $ | 368,401 |
Accounts payable | 1,449 |  |  | 32,692 |  |  | 29,959 |  |  | — |  |  | 64,100 |
Accounts payable to consolidated subsidiaries | 2,259,891 |  |  | 188,908 |  |  | 163,291 |  |  | (2,612,090 | ) |  | — |
Accrued expenses | 17,149 |  |  | 21,479 |  |  | 33,755 |  |  | — |  |  | 72,383 |
Current portion of contingent consideration | — |  |  | 11,276 |  |  | — |  |  | — |  |  | 11,276 |
Payroll and benefit-related liabilities | 20,693 |  |  | 27,228 |  |  | 37,521 |  |  | — |  |  | 85,442 |
Accrued interest | 9,152 |  |  | — |  |  | 17 |  |  | — |  |  | 9,169 |
Income taxes payable | — |  |  | — |  |  | 13,634 |  |  | 134 |  |  | 13,768 |
Other current liabilities | 5 |  |  | 3,065 |  |  | 5,160 |  |  | — |  |  | 8,230 |
Total current liabilities | 2,672,040 |  |  | 284,648 |  |  | 288,037 |  |  | (2,611,956 | ) |  | 632,769 |
Long-term borrowings | 700,000 |  |  | — |  |  | — |  |  | — |  |  | 700,000 |
Deferred tax liabilities | — |  |  | 444,887 |  |  | 39,663 |  |  | (85,347 | ) |  | 399,203 |
Pension and other postretirement benefit liabilities | 110,830 |  |  | 35,074 |  |  | 21,337 |  |  | — |  |  | 167,241 |
Noncurrent liability for uncertain tax positions | 11,431 |  |  | 15,569 |  |  | 23,884 |  |  | — |  |  | 50,884 |
Notes payable and other amounts due to consolidated subsidiaries | 1,483,984 |  |  | 915,163 |  |  | 100,533 |  |  | (2,499,680 | ) |  | — |
Other liabilities | 21,433 |  |  | 24,900 |  |  | 12,658 |  |  | — |  |  | 58,991 |
Total liabilities | 4,999,718 |  |  | 1,720,241 |  |  | 486,112 |  |  | (5,196,983 | ) |  | 2,009,088 |
Total common shareholders' equity | 1,911,309 |  |  | 5,267,981 |  |  | 1,808,169 |  |  | (7,076,150 | ) |  | 1,911,309 |
Noncontrolling interest | — |  |  | — |  |  | 2,390 |  |  | — |  |  | 2,390 |
Total equity | 1,911,309 |  |  | 5,267,981 |  |  | 1,810,559 |  |  | (7,076,150 | ) |  | 1,913,699 |
Total liabilities and equity | $ | 6,911,027 |  |  | $ | 6,988,222 |  |  | $ | 2,296,671 |  |  | $ | (12,273,133 | ) |  | $ | 3,922,787 |
Condensed Consolidating Statements of Cash Flows |
| Year Ended December 31, 2015
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations | $ | (147,704 | ) |  | $ | 134,817 |  |  | $ | 320,145 |  |  | $ | (3,812 | ) |  | $ | 303,446 |
Cash flows from investing activities of continuing operations: |  |  |  |  |  |  |  |  |
Expenditures for property, plant and equipment | (124 | ) |  | (32,797 | ) |  | (28,527 | ) |  | — |  |  | (61,448 | )
Payments for businesses and intangibles acquired, net of cash acquired | — |  |  | (60,336 | ) |  | (33,472 | ) |  | — |  |  | (93,808 | )
Proceeds from sale of assets | 408 |  |  | — |  |  | — |  |  | — |  |  | 408 |
Investments in affiliates | — |  |  | — |  |  | (121,850 | ) |  | 121,850 |  |  | — |
Net cash provided by (used in) investing activities from continuing operations | 284 |  |  | (93,133 | ) |  | (183,849 | ) |  | 121,850 |  |  | (154,848 | )
Cash flows from financing activities of continuing operations: |  |  |  |  |  |  |  |  |
Proceeds from new borrowings | 288,100 |  |  | — |  |  | — |  |  | — |  |  | 288,100 |
Reduction in borrowings | (303,757 | ) |  | — |  |  | — |  |  | — |  |  | (303,757 | )
Debt extinguishment, issuance and amendment fees | (9,017 | ) |  | — |  |  | — |  |  | — |  |  | (9,017 | )
Proceeds from share based compensation plans and the related tax impacts | 4,994 |  |  | — |  |  | — |  |  | — |  |  | 4,994 |
Payments to noncontrolling interest shareholders | — |  |  | — |  |  | (1,343 | ) |  | — |  |  | (1,343 | )
Payments for contingent consideration | — |  |  | (8,028 | ) |  | — |  |  | — |  |  | (8,028 | )
Proceeds from issuance of shares | — |  |  | 121,850 |  |  | — |  |  | (121,850 | ) |  | — |
Dividends paid | (56,532 | ) |  | — |  |  | — |  |  | — |  |  | (56,532 | )
Intercompany transactions | 219,035 |  |  | (155,506 | ) |  | (63,529 | ) |  | — |  |  | — |
Intercompany dividends paid | — |  |  | — |  |  | (3,812 | ) |  | 3,812 |  |  | — |
Net cash provided by (used in) financing activities from continuing operations | 142,823 |  |  | (41,684 | ) |  | (68,684 | ) |  | (118,038 | ) |  | (85,583 | )
Cash flows from discontinued operations: |  |  |  |  |  |  |  |  |
Net cash used in operating activities | (1,787 | ) |  | — |  |  | (849 | ) |  | — |  |  | (2,636 | )
Net cash used in discontinued operations | (1,787 | ) |  | — |  |  | (849 | ) |  | — |  |  | (2,636 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (25,249 | ) |  | — |  |  | (25,249 | )
Net (decrease) increase in cash and cash equivalents | (6,384 | ) |  | — |  |  | 41,514 |  |  | — |  |  | 35,130 |
Cash and cash equivalents at the beginning of the year | 27,996 |  |  | — |  |  | 275,240 |  |  | — |  |  | 303,236 |
Cash and cash equivalents at the end of the year | $ | 21,612 |  |  | $ | — |  |  | $ | 316,754 |  |  | $ | — |  |  | $ | 338,366 |
| Year Ended December 31, 2014
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations | $ | (105,467 | ) |  | $ | 347,503 |  |  | $ | 52,634 |  |  | $ | (4,429 | ) |  | $ | 290,241 |
Cash flows from investing activities of continuing operations: |  |  |  |  |  |  |  |  |
Expenditures for property, plant and equipment | (2,273 | ) |  | (30,586 | ) |  | (34,712 | ) |  | — |  |  | (67,571 | )
Payments for businesses and intangibles acquired, net of cash acquired | — |  |  | (17,241 | ) |  | (28,536 | ) |  | — |  |  | (45,777 | )
Proceeds from sale of assets and investments | 1,669 |  |  | 3,421 |  |  | 161 |  |  | — |  |  | 5,251 |
Investments in affiliates | (60 | ) |  | 20 |  |  | — |  |  | — |  |  | (40 | )
Net cash used in investing activities from continuing operations | (664 | ) |  | (44,386 | ) |  | (63,087 | ) |  | — |  |  | (108,137 | )
Cash flows from financing activities of continuing operations: |  |  |  |  |  |  |  |  |
Proceeds from new borrowings | 250,000 |  |  | — |  |  | — |  |  | — |  |  | 250,000 |
Reduction in borrowings | (480,102 | ) |  | — |  |  | — |  |  | — |  |  | (480,102 | )
Debt issuance and amendment fees | (4,494 | ) |  | — |  |  | — |  |  | — |  |  | (4,494 | )
Proceeds from share based compensation plans and the related tax impacts | 4,245 |  |  | — |  |  | — |  |  | — |  |  | 4,245 |
Payments to noncontrolling interest shareholders | — |  |  | — |  |  | (1,094 | ) |  | — |  |  | (1,094 | )
Dividends paid | (56,258 | ) |  | — |  |  | — |  |  | — |  |  | (56,258 | )
Intercompany transactions | 381,663 |  |  | (317,617 | ) |  | (64,046 | ) |  | — |  |  | — |
Intercompany dividends paid | — |  |  | — |  |  | (4,429 | ) |  | 4,429 |  |  | — |
Net cash provided by (used in) financing activities from continuing operations | 95,054 |  |  | (317,617 | ) |  | (69,569 | ) |  | 4,429 |  |  | (287,703 | )
Cash flows from discontinued operations: |  |  |  |  |  |  |  |  |
Net cash used in operating activities | (3,676 | ) |  | — |  |  | — |  |  | — |  |  | (3,676 | )
Net cash used in discontinued operations | (3,676 | ) |  | — |  |  | — |  |  | — |  |  | (3,676 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (19,473 | ) |  | — |  |  | (19,473 | )
Net decrease in cash and cash equivalents | (14,753 | ) |  | (14,500 | ) |  | (99,495 | ) |  | — |  |  | (128,748 | )
Cash and cash equivalents at the beginning of the year | 42,749 |  |  | 14,500 |  |  | 374,735 |  |  | — |  |  | 431,984 |
Cash and cash equivalents at the end of the year | $ | 27,996 |  |  | $ | — |  |  | $ | 275,240 |  |  | $ | — |  |  | $ | 303,236 |
| Year Ended December 31, 2013
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations | $ | (123,765 | ) |  | $ | 181,290 |  |  | $ | 240,640 |  |  | $ | (66,866 | ) |  | $ | 231,299 |
Cash flows from investing activities of continuing operations: |  |  |  |  |  |  |  |  |
Expenditures for property, plant and equipment | (1,553 | ) |  | (47,633 | ) |  | (14,394 | ) |  | — |  |  | (63,580 | )
Payments for businesses and intangibles acquired, net of cash acquired | — |  |  | (250,912 | ) |  | (58,096 | ) |  | — |  |  | (309,008 | )
Investments in affiliates | (50 | ) |  | — |  |  | — |  |  | — |  |  | (50 | )
Net cash used in investing activities from continuing operations | (1,603 | ) |  | (298,545 | ) |  | (72,490 | ) |  | — |  |  | (372,638 | )
Cash flows from financing activities of continuing operations: |  |  |  |  |  |  |  |  |
Proceeds from new borrowings | 680,000 |  |  | — |  |  | — |  |  | — |  |  | 680,000 |
Reduction in borrowings | (375,000 | ) |  | — |  |  | — |  |  | — |  |  | (375,000 | )
Debt extinguishment, issuance and amendment fees | (6,400 | ) |  | — |  |  | — |  |  | — |  |  | (6,400 | )
Proceeds from share based compensation plans and the related tax impacts | 6,181 |  |  | — |  |  | — |  |  | — |  |  | 6,181 |
Payments to noncontrolling interest shareholders | — |  |  | — |  |  | (736 | ) |  | — |  |  | (736 | )
Payments for contingent consideration | — |  |  | (14,802 | ) |  | (2,156 | ) |  | — |  |  | (16,958 | )
Dividends paid | (55,917 | ) |  | — |  |  | — |  |  | — |  |  | (55,917 | )
Intercompany transactions | (148,880 | ) |  | 144,568 |  |  | 4,312 |  |  | — |  |  | — |
Intercompany dividends paid | — |  |  |  |  | (66,866 | ) |  | 66,866 |  |  | — |
Net cash provided by (used in) financing activities from continuing operations | 99,984 |  |  | 129,766 |  |  | (65,446 | ) |  | 66,866 |  |  | 231,170 |
Cash flows from discontinued operations: |  |  |  |  |  |  |  |  |
Net cash used in operating activities | (2,727 | ) |  | — |  |  | (600 | ) |  | — |  |  | (3,327 | )
Net cash used in discontinued operations | (2,727 | ) |  | — |  |  | (600 | ) |  | — |  |  | (3,327 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 8,441 |  |  | — |  |  | 8,441 |
Net (decrease) increase in cash and cash equivalents | (28,111 | ) |  | 12,511 |  |  | 110,545 |  |  | — |  |  | 94,945 |
Cash and cash equivalents at the beginning of the year | 70,860 |  |  | 1,989 |  |  | 264,190 |  |  | — |  |  | 337,039 |
Cash and cash equivalents at the end of the year | $ | 42,749 |  |  | $ | 14,500 |  |  | $ | 374,735 |  |  | $ | — |  |  | $ | 431,984 |

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