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Condensed consolidating guarantor financial information (Tables) | 6 Months Ended
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Jul. 02, 2017
Condensed Consolidated Guarantor Financial Information [Abstract] |
Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) | TELEFLEX INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
| Three Months Ended July 2, 2017
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 338,620 |  |  | $ | 296,977 |  |  | $ | (106,984 | ) |  | $ | 528,613 |
Cost of goods sold | — |  |  | 190,202 |  |  | 152,440 |  |  | (104,313 | ) |  | 238,329 |
Gross profit | — |  |  | 148,418 |  |  | 144,537 |  |  | (2,671 | ) |  | 290,284 |
Selling, general and administrative expenses | 7,468 |  |  | 95,171 |  |  | 56,334 |  |  | (39 | ) |  | 158,934 |
Research and development expenses | 264 |  |  | 13,594 |  |  | 6,420 |  |  | — |  |  | 20,278 |
Restructuring charges | — |  |  | 1,335 |  |  | (465 | ) |  | — |  |  | 870 |
(Loss) income from continuing operations before interest, extinguishment of debt and taxes | (7,732 | ) |  | 38,318 |  |  | 82,248 |  |  | (2,632 | ) |  | 110,202 |
Interest, net | 51,073 |  |  | (32,421 | ) |  | 1,081 |  |  | — |  |  | 19,733 |
Loss on extinguishment of debt | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
(Loss) income from continuing operations before taxes | (58,816 | ) |  | 70,739 |  |  | 81,167 |  |  | (2,632 | ) |  | 90,458 |
(Benefit) taxes on (loss) income from continuing operations | (23,115 | ) |  | 22,123 |  |  | 14,210 |  |  | (1,123 | ) |  | 12,095 |
Equity in net income of consolidated subsidiaries | 114,064 |  |  | 58,861 |  |  | 240 |  |  | (173,165 | ) |  | — |
Income from continuing operations | 78,363 |  |  | 107,477 |  |  | 67,197 |  |  | (174,674 | ) |  | 78,363 |
Operating loss from discontinued operations | (566 | ) |  | — |  |  | — |  |  | — |  |  | (566 | )
Benefit on loss from discontinued operations | (206 | ) |  | — |  |  | — |  |  | — |  |  | (206 | )
Loss from discontinued operations | (360 | ) |  | — |  |  | — |  |  | — |  |  | (360 | )
Net income | 78,003 |  |  | 107,477 |  |  | 67,197 |  |  | (174,674 | ) |  | 78,003 |
Other comprehensive income | 69,822 |  |  | 68,127 |  |  | 69,374 |  |  | (137,501 | ) |  | 69,822 |
Comprehensive income | $ | 147,825 |  |  | $ | 175,604 |  |  | $ | 136,571 |  |  | $ | (312,175 | ) |  | $ | 147,825 |
| Three Months Ended June 26, 2016
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 280,430 |  |  | $ | 290,784 |  |  | $ | (97,661 | ) |  | $ | 473,553 |
Cost of goods sold | — |  |  | 170,700 |  |  | 146,997 |  |  | (100,543 | ) |  | 217,154 |
Gross profit | — |  |  | 109,730 |  |  | 143,787 |  |  | 2,882 |  |  | 256,399 |
Selling, general and administrative expenses | 10,285 |  |  | 86,385 |  |  | 46,297 |  |  | 16 |  |  | 142,983 |
Research and development expenses | 140 |  |  | 8,644 |  |  | 6,688 |  |  | — |  |  | 15,472 |
Restructuring charges | — |  |  | 557 |  |  | (676 | ) |  | — |  |  | (119 | )
Gain on sale of assets | — |  |  | (378 | ) |  | — |  |  | — |  |  | (378 | )
(Loss) income from continuing operations before interest, extinguishment of debt and taxes | (10,425 | ) |  | 14,522 |  |  | 91,478 |  |  | 2,866 |  |  | 98,441 |
Interest, net | 33,146 |  |  | (22,437 | ) |  | 1,069 |  |  | — |  |  | 11,778 |
Loss on extinguishment of debt | 19,261 |  |  | — |  |  | — |  |  | — |  |  | 19,261 |
(Loss) income from continuing operations before taxes | (62,832 | ) |  | 36,959 |  |  | 90,409 |  |  | 2,866 |  |  | 67,402 |
(Benefit) taxes on (loss) income from continuing operations | (23,077 | ) |  | 14,504 |  |  | 15,909 |  |  | 671 |  |  | 8,007 |
Equity in net income of consolidated subsidiaries | 99,295 |  |  | 63,605 |  |  | 175 |  |  | (163,075 | ) |  | — |
Income from continuing operations | 59,540 |  |  | 86,060 |  |  | 74,675 |  |  | (160,880 | ) |  | 59,395 |
Operating (loss) income from discontinued operations | (373 | ) |  | — |  |  | 379 |  |  | — |  |  | 6 |
Benefit on (loss) income from discontinued operations | (136 | ) |  | — |  |  | (51 | ) |  | — |  |  | (187 | )
(Loss) income from discontinued operations | (237 | ) |  | — |  |  | 430 |  |  | — |  |  | 193 |
Net income | 59,303 |  |  | 86,060 |  |  | 75,105 |  |  | (160,880 | ) |  | 59,588 |
Less: Income from continuing operations attributable to noncontrolling interest | — |  |  | — |  |  | 285 |  |  | — |  |  | 285 |
Net income attributable to common shareholders | 59,303 |  |  | 86,060 |  |  | 74,820 |  |  | (160,880 | ) |  | 59,303 |
Other comprehensive loss attributable to common shareholders | (8,441 | ) |  | (9,685 | ) |  | (11,378 | ) |  | 21,063 |  |  | (8,441 | )
Comprehensive income attributable to common shareholders | $ | 50,862 |  |  | $ | 76,375 |  |  | $ | 63,442 |  |  | $ | (139,817 | ) |  | $ | 50,862 |
| Six Months Ended July 2, 2017
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 654,263 |  |  | $ | 573,292 |  |  | $ | (211,061 | ) |  | $ | 1,016,494 |
Cost of goods sold | — |  |  | 382,203 |  |  | 296,336 |  |  | (207,889 | ) |  | 470,650 |
Gross profit | — |  |  | 272,060 |  |  | 276,956 |  |  | (3,172 | ) |  | 545,844 |
Selling, general and administrative expenses | 27,987 |  |  | 189,214 |  |  | 105,178 |  |  | 524 |  |  | 322,903 |
Research and development expenses | 499 |  |  | 24,780 |  |  | 12,826 |  |  | — |  |  | 38,105 |
Restructuring charges | — |  |  | 6,709 |  |  | 7,106 |  |  | — |  |  | 13,815 |
(Loss) income from continuing operations before interest, extinguishment of debt and taxes | (28,486 | ) |  | 51,357 |  |  | 151,846 |  |  | (3,696 | ) |  | 171,021 |
Interest, net | 98,747 |  |  | (63,384 | ) |  | 1,927 |  |  | — |  |  | 37,290 |
Loss on extinguishment of debt | 5,593 |  |  | — |  |  | — |  |  | — |  |  | 5,593 |
(Loss) income from continuing operations before taxes | (132,826 | ) |  | 114,741 |  |  | 149,919 |  |  | (3,696 | ) |  | 128,138 |
(Benefit) taxes on (loss) income from continuing operations | (53,022 | ) |  | 36,608 |  |  | 26,439 |  |  | (599 | ) |  | 9,426 |
Equity in net income of consolidated subsidiaries | 198,516 |  |  | 114,663 |  |  | 456 |  |  | (313,635 | ) |  | — |
Income from continuing operations | 118,712 |  |  | 192,796 |  |  | 123,936 |  |  | (316,732 | ) |  | 118,712 |
Operating loss from discontinued operations | (848 | ) |  | — |  |  | — |  |  | — |  |  | (848 | )
Benefit on loss from discontinued operations | (309 | ) |  | — |  |  | — |  |  | — |  |  | (309 | )
Loss from discontinued operations | (539 | ) |  | — |  |  | — |  |  | — |  |  | (539 | )
Net income | 118,173 |  |  | 192,796 |  |  | 123,936 |  |  | (316,732 | ) |  | 118,173 |
Other comprehensive income | 119,422 |  |  | 117,531 |  |  | 123,275 |  |  | (240,806 | ) |  | 119,422 |
Comprehensive income | $ | 237,595 |  |  | $ | 310,327 |  |  | $ | 247,211 |  |  | $ | (557,538 | ) |  | $ | 237,595 |
| Six Months Ended June 26, 2016
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net revenues | $ | — |  |  | $ | 539,341 |  |  | $ | 552,132 |  |  | $ | (193,027 | ) |  | $ | 898,446 |
Cost of goods sold | — |  |  | 326,241 |  |  | 279,960 |  |  | (189,301 | ) |  | 416,900 |
Gross profit | — |  |  | 213,100 |  |  | 272,172 |  |  | (3,726 | ) |  | 481,546 |
Selling, general and administrative expenses | 19,614 |  |  | 167,862 |  |  | 91,356 |  |  | 499 |  |  | 279,331 |
Research and development expenses | 140 |  |  | 15,079 |  |  | 12,606 |  |  | — |  |  | 27,825 |
Restructuring charges | — |  |  | 5,315 |  |  | 4,534 |  |  | — |  |  | 9,849 |
Gain on sale of assets | — |  |  | (378 | ) |  | (1,019 | ) |  | — |  |  | (1,397 | )
(Loss) income from continuing operations before interest, extinguishment of debt and taxes | (19,754 | ) |  | 25,222 |  |  | 164,695 |  |  | (4,225 | ) |  | 165,938 |
Interest, net | 66,190 |  |  | (42,755 | ) |  | 2,047 |  |  | — |  |  | 25,482 |
Loss on extinguishment of debt | 19,261 |  |  | — |  |  | — |  |  | — |  |  | 19,261 |
(Loss) income from continuing operations before taxes | (105,205 | ) |  | 67,977 |  |  | 162,648 |  |  | (4,225 | ) |  | 121,195 |
(Benefit) taxes on (loss) income from continuing operations | (38,925 | ) |  | 26,181 |  |  | 23,773 |  |  | (409 | ) |  | 10,620 |
Equity in net income of consolidated subsidiaries | 176,752 |  |  | 121,505 |  |  | 343 |  |  | (298,600 | ) |  | — |
Income from continuing operations | 110,472 |  |  | 163,301 |  |  | 139,218 |  |  | (302,416 | ) |  | 110,575 |
Operating (loss) income from discontinued operations | (755 | ) |  | — |  |  | 379 |  |  | — |  |  | (376 | )
(Benefit) taxes on (loss) income from discontinued operations | (275 | ) |  | — |  |  | 18 |  |  | — |  |  | (257 | )
(Loss) income from discontinued operations | (480 | ) |  | — |  |  | 361 |  |  | — |  |  | (119 | )
Net income | 109,992 |  |  | 163,301 |  |  | 139,579 |  |  | (302,416 | ) |  | 110,456 |
Less: Income from continuing operations attributable to noncontrolling interest | — |  |  | — |  |  | 464 |  |  | — |  |  | 464 |
Net income attributable to common shareholders | 109,992 |  |  | 163,301 |  |  | 139,115 |  |  | (302,416 | ) |  | 109,992 |
Other comprehensive income attributable to common shareholders | 14,753 |  |  | 8,888 |  |  | 11,034 |  |  | (19,922 | ) |  | 14,753 |
Comprehensive income attributable to common shareholders | $ | 124,745 |  |  | $ | 172,189 |  |  | $ | 150,149 |  |  | $ | (322,338 | ) |  | $ | 124,745 |
Condensed Consolidating Balance Sheets | TELEFLEX INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS
| July 2, 2017
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 56,699 |  |  | $ | 10,963 |  |  | $ | 608,552 |  |  | $ | — |  |  | $ | 676,214 |
Accounts receivable, net | 2,236 |  |  | 34,592 |  |  | 262,539 |  |  | 4,335 |  |  | 303,702 |
Accounts receivable from consolidated subsidiaries | 8,333 |  |  | 2,265,552 |  |  | 345,901 |  |  | (2,619,786 | ) |  | — |
Inventories, net | — |  |  | 228,022 |  |  | 168,954 |  |  | (28,450 | ) |  | 368,526 |
Prepaid expenses and other current assets | 14,163 |  |  | 9,280 |  |  | 20,518 |  |  | 3,337 |  |  | 47,298 |
Prepaid taxes | 4,490 |  |  | — |  |  | 7,760 |  |  | (372 | ) |  | 11,878 |
Total current assets | 85,921 |  |  | 2,548,409 |  |  | 1,414,224 |  |  | (2,640,936 | ) |  | 1,407,618 |
Property, plant and equipment, net | 2,398 |  |  | 212,907 |  |  | 153,996 |  |  | — |  |  | 369,301 |
Goodwill | — |  |  | 1,238,551 |  |  | 615,525 |  |  | — |  |  | 1,854,076 |
Intangibles assets, net | — |  |  | 1,152,095 |  |  | 460,809 |  |  | — |  |  | 1,612,904 |
Deferred tax assets | 72,037 |  |  | — |  |  | 5,435 |  |  | (75,509 | ) |  | 1,963 |
Notes receivable and other amounts due from consolidated subsidiaries | 1,310,464 |  |  | 2,163,757 |  |  | — |  |  | (3,474,221 | ) |  | — |
Other assets | 7,386,675 |  |  | 1,706,244 |  |  | 31,051 |  |  | (9,079,808 | ) |  | 44,162 |
Total assets | $ | 8,857,495 |  |  | $ | 9,021,963 |  |  | $ | 2,681,040 |  |  | $ | (15,270,474 | ) |  | $ | 5,290,024 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Current borrowings | $ | 62,039 |  |  | $ | — |  |  | $ | 50,000 |  |  | $ | — |  |  | $ | 112,039 |
Accounts payable | 3,136 |  |  | 38,529 |  |  | 40,308 |  |  | — |  |  | 81,973 |
Accounts payable to consolidated subsidiaries | 2,306,666 |  |  | 261,263 |  |  | 51,857 |  |  | (2,619,786 | ) |  | — |
Accrued expenses | 19,284 |  |  | 26,593 |  |  | 39,173 |  |  | — |  |  | 85,050 |
Current portion of contingent consideration | — |  |  | 584 |  |  | — |  |  | — |  |  | 584 |
Payroll and benefit-related liabilities | 17,855 |  |  | 26,071 |  |  | 35,025 |  |  | — |  |  | 78,951 |
Accrued interest | 5,264 |  |  | — |  |  | 30 |  |  | — |  |  | 5,294 |
Income taxes payable | — |  |  | — |  |  | 4,408 |  |  | (970 | ) |  | 3,438 |
Other current liabilities | 500 |  |  | 4,250 |  |  | 3,972 |  |  | — |  |  | 8,722 |
Total current liabilities | 2,414,744 |  |  | 357,290 |  |  | 224,773 |  |  | (2,620,756 | ) |  | 376,051 |
Long-term borrowings | 1,887,716 |  |  | — |  |  | — |  |  | — |  |  | 1,887,716 |
Deferred tax liabilities | — |  |  | 508,629 |  |  | 34,914 |  |  | (75,509 | ) |  | 468,034 |
Pension and postretirement benefit liabilities | 80,154 |  |  | 31,026 |  |  | 17,155 |  |  | — |  |  | 128,335 |
Noncurrent liability for uncertain tax positions | 1,729 |  |  | 13,781 |  |  | 2,868 |  |  | — |  |  | 18,378 |
Notes payable and other amounts due to consolidated subsidiaries | 2,089,600 |  |  | 1,185,791 |  |  | 198,830 |  |  | (3,474,221 | ) |  | — |
Other liabilities | 25,023 |  |  | 13,961 |  |  | 13,997 |  |  | — |  |  | 52,981 |
Total liabilities | 6,498,966 |  |  | 2,110,478 |  |  | 492,537 |  |  | (6,170,486 | ) |  | 2,931,495 |
Total shareholders' equity | 2,358,529 |  |  | 6,911,485 |  |  | 2,188,503 |  |  | (9,099,988 | ) |  | 2,358,529 |
Total liabilities and shareholders' equity | $ | 8,857,495 |  |  | $ | 9,021,963 |  |  | $ | 2,681,040 |  |  | $ | (15,270,474 | ) |  | $ | 5,290,024 |
| December 31, 2016
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 14,571 |  |  | $ | 1,031 |  |  | $ | 528,187 |  |  | $ | — |  |  | $ | 543,789 |
Accounts receivable, net | 2,551 |  |  | 8,768 |  |  | 255,815 |  |  | 4,859 |  |  | 271,993 |
Accounts receivable from consolidated subsidiaries | 4,861 |  |  | 2,176,059 |  |  | 309,149 |  |  | (2,490,069 | ) |  | — |
Inventories, net | — |  |  | 200,852 |  |  | 140,406 |  |  | (25,087 | ) |  | 316,171 |
Prepaid expenses and other current assets | 14,239 |  |  | 5,332 |  |  | 17,474 |  |  | 3,337 |  |  | 40,382 |
Prepaid taxes | — |  |  | — |  |  | 7,766 |  |  | 413 |  |  | 8,179 |
Assets held for sale | — |  |  | — |  |  | 2,879 |  |  | — |  |  | 2,879 |
Total current assets | 36,222 |  |  | 2,392,042 |  |  | 1,261,676 |  |  | (2,506,547 | ) |  | 1,183,393 |
Property, plant and equipment, net | 2,566 |  |  | 163,847 |  |  | 136,486 |  |  | — |  |  | 302,899 |
Goodwill | — |  |  | 708,546 |  |  | 568,174 |  |  | — |  |  | 1,276,720 |
Intangibles assets, net | — |  |  | 640,999 |  |  | 450,664 |  |  | — |  |  | 1,091,663 |
Deferred tax assets | 73,051 |  |  | — |  |  | 5,185 |  |  | (76,524 | ) |  | 1,712 |
Notes receivable and other amounts due from consolidated subsidiaries | 1,387,615 |  |  | 2,085,538 |  |  | — |  |  | (3,473,153 | ) |  | — |
Other assets | 6,044,337 |  |  | 1,525,285 |  |  | 29,962 |  |  | (7,564,758 | ) |  | 34,826 |
Total assets | $ | 7,543,791 |  |  | $ | 7,516,257 |  |  | $ | 2,452,147 |  |  | $ | (13,620,982 | ) |  | $ | 3,891,213 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |
Current borrowings | $ | 133,071 |  |  | $ | — |  |  | $ | 50,000 |  |  | $ | — |  |  | $ | 183,071 |
Accounts payable | 4,540 |  |  | 30,924 |  |  | 33,936 |  |  | — |  |  | 69,400 |
Accounts payable to consolidated subsidiaries | 2,242,814 |  |  | 214,203 |  |  | 33,052 |  |  | (2,490,069 | ) |  | — |
Accrued expenses | 16,827 |  |  | 18,126 |  |  | 30,196 |  |  | — |  |  | 65,149 |
Current portion of contingent consideration | — |  |  | 587 |  |  | — |  |  | — |  |  | 587 |
Payroll and benefit-related liabilities | 20,610 |  |  | 26,672 |  |  | 35,397 |  |  | — |  |  | 82,679 |
Accrued interest | 10,429 |  |  | — |  |  | 21 |  |  | — |  |  | 10,450 |
Income taxes payable | 1,246 |  |  | — |  |  | 6,577 |  |  | 85 |  |  | 7,908 |
Other current liabilities | 2,262 |  |  | 3,643 |  |  | 2,497 |  |  | — |  |  | 8,402 |
Total current liabilities | 2,431,799 |  |  | 294,155 |  |  | 191,676 |  |  | (2,489,984 | ) |  | 427,646 |
Long-term borrowings | 850,252 |  |  | — |  |  | — |  |  | — |  |  | 850,252 |
Deferred tax liabilities | — |  |  | 316,526 |  |  | 31,375 |  |  | (76,524 | ) |  | 271,377 |
Pension and postretirement benefit liabilities | 85,645 |  |  | 31,561 |  |  | 15,856 |  |  | — |  |  | 133,062 |
Noncurrent liability for uncertain tax positions | 1,169 |  |  | 13,684 |  |  | 2,667 |  |  | — |  |  | 17,520 |
Notes payable and other amounts due to consolidated subsidiaries | 2,011,737 |  |  | 1,264,004 |  |  | 197,412 |  |  | (3,473,153 | ) |  | — |
Other liabilities | 23,848 |  |  | 15,695 |  |  | 12,472 |  |  | — |  |  | 52,015 |
Total liabilities | 5,404,450 |  |  | 1,935,625 |  |  | 451,458 |  |  | (6,039,661 | ) |  | 1,751,872 |
Convertible notes - redeemable equity component | 1,824 |  |  | — |  |  | — |  |  | — |  |  | 1,824 |
Mezzanine equity | 1,824 |  |  | — |  |  | — |  |  | — |  |  | 1,824 |
Total shareholders' equity | 2,137,517 |  |  | 5,580,632 |  |  | 2,000,689 |  |  | (7,581,321 | ) |  | 2,137,517 |
Total liabilities and shareholders' equity | $ | 7,543,791 |  |  | $ | 7,516,257 |  |  | $ | 2,452,147 |  |  | $ | (13,620,982 | ) |  | $ | 3,891,213 |
Condensed Consolidating Statements of Cash Flows | TELEFLEX INCORPORATED AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
| Six Months Ended July 2, 2017
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations | $ | (121,726 | ) |  | $ | 232,874 |  |  | $ | 148,460 |  |  | $ | (61,918 | ) |  | $ | 197,690 |
Cash flows from investing activities of continuing operations: |  |  |  |  |  |  |  |  |
Expenditures for property, plant and equipment | (173 | ) |  | (19,760 | ) |  | (16,900 | ) |  | — |  |  | (36,833 | )
Proceeds from sale of assets | — |  |  | — |  |  | 6,332 |  |  | — |  |  | 6,332 |
Payments for businesses and intangibles acquired, net of cash acquired | (975,524 | ) |  | — |  |  | (17,935 | ) |  | — |  |  | (993,459 | )
Net cash used in investing activities from continuing operations | (975,697 | ) |  | (19,760 | ) |  | (28,503 | ) |  | — |  |  | (1,023,960 | )
Cash flows from financing activities of continuing operations: |  |  |  |  |  |  |  |  |
Proceeds from new borrowings | 1,194,500 |  |  | — |  |  | — |  |  | — |  |  | 1,194,500 |
Reduction in borrowings | (228,273 | ) |  | — |  |  | — |  |  | — |  |  | (228,273 | )
Debt extinguishment, issuance and amendment fees | (19,114 | ) |  | — |  |  | — |  |  | — |  |  | (19,114 | )
Net proceeds from share based compensation plans and the related tax impacts | 1,305 |  |  | — |  |  | — |  |  | — |  |  | 1,305 |
Payments for contingent consideration | — |  |  | (153 | ) |  | — |  |  | — |  |  | (153 | )
Dividends paid | (30,590 | ) |  | — |  |  | — |  |  | — |  |  | (30,590 | )
Intercompany transactions | 222,684 |  |  | (203,029 | ) |  | (19,655 | ) |  | — |  |  | — |
Intercompany dividends paid | — |  |  | — |  |  | (61,918 | ) |  | 61,918 |  |  | — |
Net cash provided by (used in) financing activities from continuing operations | 1,140,512 |  |  | (203,182 | ) |  | (81,573 | ) |  | 61,918 |  |  | 917,675 |
Cash flows from discontinued operations: |  |  |  |  |  |  |  |  |
Net cash used in operating activities | (961 | ) |  | — |  |  | — |  |  | — |  |  | (961 | )
Net cash used in discontinued operations | (961 | ) |  | — |  |  | — |  |  | — |  |  | (961 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | 41,981 |  |  | — |  |  | 41,981 |
Net increase in cash and cash equivalents | 42,128 |  |  | 9,932 |  |  | 80,365 |  |  |  |  |  | 132,425 |
Cash and cash equivalents at the beginning of the period | 14,571 |  |  | 1,031 |  |  | 528,187 |  |  | — |  |  | 543,789 |
Cash and cash equivalents at the end of the period | $ | 56,699 |  |  | $ | 10,963 |  |  | $ | 608,552 |  |  | $ | — |  |  | $ | 676,214 |
| Six Months Ended June 26, 2016
| Parent Company |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Condensed Consolidated
| (Dollars in thousands)
Net cash (used in) provided by operating activities from continuing operations | $ | (29,648 | ) |  | $ | 69,875 |  |  | $ | 141,261 |  |  | $ | — |  |  | $ | 181,488 |
Cash flows from investing activities of continuing operations: |  |  |  |  |  |  |  |  |
Expenditures for property, plant and equipment | (146 | ) |  | (9,947 | ) |  | (9,442 | ) |  | — |  |  | (19,535 | )
Proceeds from sale of assets | — |  |  | 20,642 |  |  | 1,251 |  |  | (17,908 | ) |  | 3,985 |
Payments for businesses and intangibles acquired, net of cash acquired | — |  |  | — |  |  | (21,025 | ) |  | 17,908 |  |  | (3,117 | )
Net cash (used in) provided by investing activities from continuing operations | (146 | ) |  | 10,695 |  |  | (29,216 | ) |  | — |  |  | (18,667 | )
Cash flows from financing activities of continuing operations: |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from new borrowings | 665,000 |  |  | — |  |  | — |  |  | — |  |  | 665,000 |
Reduction in borrowings | (656,479 | ) |  | — |  |  | — |  |  | — |  |  | (656,479 | )
Debt extinguishment, issuance and amendment fees | (8,182 | ) |  | — |  |  | — |  |  | — |  |  | (8,182 | )
Net proceeds from share based compensation plans and the related tax impacts | 6,593 |  |  | — |  |  | — |  |  | — |  |  | 6,593 |
Payments for contingent consideration | — |  |  | (133 | ) |  | — |  |  | — |  |  | (133 | )
Dividends paid | (28,998 | ) |  | — |  |  | — |  |  | — |  |  | (28,998 | )
Intercompany transactions | 81,640 |  |  | (79,348 | ) |  | (2,292 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities from continuing operations | 59,574 |  |  | (79,481 | ) |  | (2,292 | ) |  | — |  |  | (22,199 | )
Cash flows from discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash used in operating activities | (1,183 | ) |  | — |  |  | — |  |  | — |  |  | (1,183 | )
Net cash used in discontinued operations | (1,183 | ) |  | — |  |  | — |  |  | — |  |  | (1,183 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | (1,315 | ) |  | — |  |  | (1,315 | )
Net increase in cash and cash equivalents | 28,597 |  |  | 1,089 |  |  | 108,438 |  |  | — |  |  | 138,124 |
Cash and cash equivalents at the beginning of the period | 21,612 |  |  | — |  |  | 316,754 |  |  | — |  |  | 338,366 |
Cash and cash equivalents at the end of the period | $ | 50,209 |  |  | $ | 1,089 |  |  | $ | 425,192 |  |  | $ | — |  |  | $ | 476,490 |

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