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v3.20.1

Guarantee Of Registered Securities (Tables) | 3 Months Ended
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Mar. 31, 2020
Guarantees [Abstract] |
Condensed Consolidating Statements Of Operations |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended March 31, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 17.3 |  |  | $ | 47.0 |  |  | $ | — |  |  | $ | 493.3 |  |  | $ | (101.0 | ) |  | $ | 456.6 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 20.6 |  |  | 43.1 |  |  | — |  |  | 513.3 |  |  | (101.0 | ) |  | 476.0 |
Loss on impairment | — |  |  | — |  |  | — |  |  | 2,808.2 |  |  | — |  |  | 2,808.2 |
Depreciation | — |  |  | 4.6 |  |  | — |  |  | 159.9 |  |  | — |  |  | 164.5 |
General and administrative | 20.2 |  |  | 11.5 |  |  | — |  |  | 21.7 |  |  | — |  |  | 53.4 |
Total operating expenses | 40.8 |  |  | 59.2 |  |  | — |  |  | 3,503.1 |  |  | (101.0 | ) |  | 3,502.1 |
EQUITY IN EARNINGS OF ARO | — |  |  | — |  |  | — |  |  | (6.3 | ) |  | — |  |  | (6.3 | )
OPERATING LOSS | (23.5 | ) |  | (12.2 | ) |  | — |  |  | (3,016.1 | ) |  | — |  |  | (3,051.8 | )
OTHER INCOME (EXPENSE), NET | 345.1 |  |  | .2 |  |  | (19.5 | ) |  | (438.1 | ) |  | 4.4 |  |  | (107.9 | )
INCOME (LOSS) BEFORE INCOME TAXES | 321.6 |  |  | (12.0 | ) |  | (19.5 | ) |  | (3,454.2 | ) |  | 4.4 |  |  | (3,159.7 | )
INCOME TAX BENEFIT | — |  |  | (11.6 | ) |  | — |  |  | (140.4 | ) |  | — |  |  | (152.0 | )
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (3,327.9 | ) |  | (84.6 | ) |  | 5.6 |  |  | — |  |  | 3,406.9 |  |  | — |
NET LOSS | (3,006.3 | ) |  | (85.0 | ) |  | (13.9 | ) |  | (3,313.8 | ) |  | 3,411.3 |  |  | (3,007.7 | )
NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 1.4 |  |  | — |  |  | 1.4 |
NET LOSS ATTRIBUTABLE TO VALARIS | $ | (3,006.3 | ) |  | $ | (85.0 | ) |  | $ | (13.9 | ) |  | $ | (3,312.4 | ) |  | $ | 3,411.3 |  |  | $ | (3,006.3 | )
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS Three Months Ended March 31, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING REVENUES | $ | 11.4 |  |  | $ | 39.5 |  |  | $ | — |  |  | $ | 430.4 |  |  | $ | (75.4 | ) |  | $ | 405.9 |
OPERATING EXPENSES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract drilling (exclusive of depreciation) | 11.7 |  |  | 35.7 |  |  | — |  |  | 360.6 |  |  | (75.4 | ) |  | 332.6 |
Depreciation | — |  |  | 3.7 |  |  | — |  |  | 121.3 |  |  | — |  |  | 125.0 |
General and administrative | 14.9 |  |  | .1 |  |  | — |  |  | 14.6 |  |  | — |  |  | 29.6 |
OPERATING LOSS | (15.2 | ) |  | — |  |  | — |  |  | (66.1 | ) |  | — |  |  | (81.3 | )
OTHER EXPENSE, NET | (16.1 | ) |  | (15.4 | ) |  | (20.5 | ) |  | (27.3 | ) |  | 4.1 |  |  | (75.2 | )
LOSS BEFORE INCOME TAXES | (31.3 | ) |  | (15.4 | ) |  | (20.5 | ) |  | (93.4 | ) |  | 4.1 |  |  | (156.5 | )
INCOME TAX PROVISION | — |  |  | 16.6 |  |  | — |  |  | 14.9 |  |  | — |  |  | 31.5 |
EQUITY EARNINGS (LOSSES) IN AFFILIATES, NET OF TAX | (159.1 | ) |  | 32.1 |  |  | 26.1 |  |  | — |  |  | 100.9 |  |  | — |
NET INCOME (LOSS) | (190.4 | ) |  | .1 |  |  | 5.6 |  |  | (108.3 | ) |  | 105.0 |  |  | (188.0 | )
NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
NET INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (190.4 | ) |  | $ | .1 |  |  | $ | 5.6 |  |  | $ | (110.7 | ) |  | $ | 105.0 |  |  | $ | (190.4 | )
Condensed Consolidating Statements Of Comprehensive Income | VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE LOSS Three Months Ended March 31, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET LOSS | $ | (3,006.3 | ) |  | $ | (85.0 | ) |  | $ | (13.9 | ) |  | $ | (3,313.8 | ) |  | $ | 3,411.3 |  |  | $ | (3,007.7 | )
OTHER COMPREHENSIVE LOSS, NET |  |  |  |  |  |  |  |  |  |  |
Net change in derivative fair value | — |  |  | (12.9 | ) |  | — |  |  | — |  |  | — |  |  | (12.9 | )
Reclassification of net gains on derivative instruments from other comprehensive loss to net loss | — |  |  | (.1 | ) |  | — |  |  | — |  |  | — |  |  | (.1 | )
Other | — |  |  | — |  |  | — |  |  | (.4 | ) |  | — |  |  | (.4 | )
NET OTHER COMPREHENSIVE LOSS | — |  |  | (13.0 | ) |  | — |  |  | (.4 | ) |  | — |  |  | (13.4 | )
COMPREHENSIVE LOSS | (3,006.3 | ) |  | (98.0 | ) |  | (13.9 | ) |  | (3,314.2 | ) |  | 3,411.3 |  |  | (3,021.1 | )
COMPREHENSIVE LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | 1.4 |  |  | — |  |  | 1.4 |
COMPREHENSIVE LOSS ATTRIBUTABLE TO VALARIS | $ | (3,006.3 | ) |  | $ | (98.0 | ) |  | $ | (13.9 | ) |  | $ | (3,312.8 | ) |  | $ | 3,411.3 |  |  | $ | (3,019.7 | )
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Three Months Ended March 31, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
NET INCOME (LOSS) | $ | (190.4 | ) |  | $ | .1 |  |  | $ | 5.6 |  |  | $ | (108.3 | ) |  | $ | 105.0 |  |  | $ | (188.0 | )
OTHER COMPREHENSIVE INCOME (LOSS), NET |  |  |  |  |  |  |  |  |  |  |  |
Reclassification of net losses on derivative instruments from other comprehensive income into net loss | — |  |  | 1.6 |  |  | — |  |  | — |  |  | — |  |  | 1.6 |
Other | — |  |  | — |  |  | — |  |  | (.1 | ) |  | — |  |  | (.1 | )
NET OTHER COMPREHENSIVE INCOME (LOSS) | — |  |  | 1.6 |  |  | — |  |  | (.1 | ) |  | — |  |  | 1.5 |
COMPREHENSIVE INCOME (LOSS) | (190.4 | ) |  | 1.7 |  |  | 5.6 |  |  | (108.4 | ) |  | 105.0 |  |  | (186.5 | )
COMPREHENSIVE INCOME ATTRIBUTABLE TO NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO VALARIS | $ | (190.4 | ) |  | $ | 1.7 |  |  | $ | 5.6 |  |  | $ | (110.8 | ) |  | $ | 105.0 |  |  | $ | (188.9 | )
Condensed Consolidating Balance Sheets |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS March 31, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 137.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 47.1 |  |  | $ | — |  |  | $ | 184.9 |
Accounts receivable, net | .2 |  |  | 25.5 |  |  | — |  |  | 467.5 |  |  | — |  |  | 493.2 |
Accounts receivable from affiliates | 4,148.4 |  |  | 213.6 |  |  | .7 |  |  | 1,123.4 |  |  | (5,486.1 | ) |  | — |
Other | 1.5 |  |  | 4.1 |  |  | — |  |  | 421.9 |  |  | — |  |  | 427.5 |
Total current assets | 4,287.9 |  |  | 243.2 |  |  | .7 |  |  | 2,059.9 |  |  | (5,486.1 | ) |  | 1,105.6 |
PROPERTY AND EQUIPMENT, AT COST | 1.9 |  |  | 109.5 |  |  | — |  |  | 14,350.5 |  |  | — |  |  | 14,461.9 |
Less accumulated depreciation | 1.9 |  |  | 89.3 |  |  | — |  |  | 2,213.5 |  |  | — |  |  | 2,304.7 |
Property and equipment, net | — |  |  | 20.2 |  |  | — |  |  | 12,137.0 |  |  | — |  |  | 12,157.2 |
SHAREHOLDER NOTE FROM ARO | — |  |  | — |  |  | — |  |  | 452.9 |  |  | — |  |  | 452.9 |
INVESTMENT IN ARO | — |  |  | — |  |  | — |  |  | 122.4 |  |  | — |  |  | 122.4 |
DUE FROM AFFILIATES | 1,599.5 |  |  | 217.3 |  |  | 39.0 |  |  | 4,660.1 |  |  | (6,515.9 | ) |  | — |
INVESTMENTS IN AFFILIATES | 10,115.2 |  |  | 704.2 |  |  | 1,230.5 |  |  | — |  |  | (12,049.9 | ) |  | — |
OTHER ASSETS | 1.2 |  |  | 3.0 |  |  | — |  |  | 182.8 |  |  | — |  |  | 187.0 |
| $ | 16,003.8 |  |  | $ | 1,187.9 |  |  | $ | 1,270.2 |  |  | $ | 19,615.1 |  |  | $ | (24,051.9 | ) |  | $ | 14,025.1 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 95.9 |  |  | $ | 25.2 |  |  | $ | 4.2 |  |  | $ | 535.4 |  |  | $ | — |  |  | $ | 660.7 |
Accounts payable to affiliates | 1,041.1 |  |  | 190.4 |  |  | 785.3 |  |  | 3,469.3 |  |  | (5,486.1 | ) |  | $ | — |
Current maturities of long-term debt | $ | 100.5 |  |  | $ | — |  |  | $ | 124.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 224.5 |
Total current liabilities | 1,237.5 |  |  | 215.6 |  |  | 913.5 |  |  | 4,004.7 |  |  | (5,486.1 | ) |  | 885.2 |
DUE TO AFFILIATES | 3,526.0 |  |  | 488.2 |  |  | 645.9 |  |  | 1,855.8 |  |  | (6,515.9 | ) |  | — |
LONG-TERM DEBT | 4,944.7 |  |  | 111.7 |  |  | 372.9 |  |  | 719.3 |  |  | — |  |  | 6,148.6 |
OTHER LIABILITIES | — |  |  | 326.2 |  |  | — |  |  | 369.5 |  |  | — |  |  | 695.7 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) | 6,295.6 |  |  | 46.2 |  |  | (662.1 | ) |  | 12,668.5 |  |  | (12,049.9 | ) |  | 6,298.3 |
NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (2.7 | ) |  | — |  |  | (2.7 | )
Total equity (deficit) | 6,295.6 |  |  | 46.2 |  |  | (662.1 | ) |  | 12,665.8 |  |  | (12,049.9 | ) |  | 6,295.6 |
| $ | 16,003.8 |  |  | $ | 1,187.9 |  |  | $ | 1,270.2 |  |  | $ | 19,615.1 |  |  | $ | (24,051.9 | ) |  | $ | 14,025.1 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING BALANCE SHEETS December 31, 2019 (In millions)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-Guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
ASSETS |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 21.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 75.7 |  |  | $ | — |  |  | $ | 97.2 |
Accounts receivable, net | 0.2 |  |  | 19.7 |  |  | — |  |  | 500.8 |  |  | — |  |  | 520.7 |
Accounts receivable from affiliates | 4,031.4 |  |  | 386.0 |  |  | — |  |  | 897.2 |  |  | (5,314.6 | ) |  | — |
Other | .6 |  |  | 11.6 |  |  | — |  |  | 434.3 |  |  | — |  |  | 446.5 |
Total current assets | 4,053.7 |  |  | 417.3 |  |  | — |  |  | 1,908.0 |  |  | (5,314.6 | ) |  | 1,064.4 |
PROPERTY AND EQUIPMENT, AT COST | 1.9 |  |  | 108.8 |  |  | — |  |  | 18,283.1 |  |  | — |  |  | 18,393.8 |
Less accumulated depreciation | 1.9 |  |  | 84.7 |  |  | — |  |  | 3,210.3 |  |  | — |  |  | 3,296.9 |
Property and equipment, net | — |  |  | 24.1 |  |  | — |  |  | 15,072.8 |  |  | — |  |  | 15,096.9 |
SHAREHOLDER NOTE FROM ARO | — |  |  | — |  |  | — |  |  | 452.9 |  |  | — |  |  | 452.9 |
INVESTMENT IN ARO | — |  |  | — |  |  | — |  |  | 128.7 |  |  | — |  |  | 128.7 |
DUE FROM AFFILIATES | 73.8 |  |  | — |  |  | 38.9 |  |  | 1,775.7 |  |  | (1,888.4 | ) |  | — |
INVESTMENTS IN AFFILIATES | 9,778.5 |  |  | 788.8 |  |  | 1,224.9 |  |  | — |  |  | (11,792.2 | ) |  | — |
OTHER ASSETS | 7.9 |  |  | 3.8 |  |  | — |  |  | 182.6 |  |  | (6.0 | ) |  | 188.3 |
| $ | 13,913.9 |  |  | $ | 1,234.0 |  |  | $ | 1,263.8 |  |  | $ | 19,520.7 |  |  | $ | (19,001.2 | ) |  | $ | 16,931.2 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued liabilities | $ | 99.2 |  |  | $ | 29.3 |  |  | $ | 12.2 |  |  | $ | 565.2 |  |  | $ | — |  |  | $ | 705.9 |
Accounts payable to affiliates | 818.8 |  |  | 147.8 |  |  | 815.1 |  |  | 3,532.9 |  |  | (5,314.6 | ) |  | — |
Current maturities of long - term debt | — |  |  | — |  |  | 124.8 |  |  | — |  |  | — |  |  | 124.8 |
Total current liabilities | 918.0 |  |  | 177.1 |  |  | 952.1 |  |  | 4,098.1 |  |  | (5,314.6 | ) |  | 830.7 |
DUE TO AFFILIATES | 710.3 |  |  | 478.8 |  |  | 586.6 |  |  | 112.7 |  |  | (1,888.4 | ) |  | — |
LONG-TERM DEBT | 2,990.6 |  |  | 111.7 |  |  | 373.3 |  |  | 2,447.9 |  |  | — |  |  | 5,923.5 |
OTHER LIABILITIES | (14.6 | ) |  | 90.6 |  |  | — |  |  | 797.4 |  |  | (6.0 | ) |  | 867.4 |
VALARIS SHAREHOLDERS' EQUITY (DEFICIT) | 9,309.6 |  |  | 375.8 |  |  | (648.2 | ) |  | 12,065.9 |  |  | (11,792.2 | ) |  | 9,310.9 |
NONCONTROLLING INTERESTS | — |  |  | — |  |  | — |  |  | (1.3 | ) |  | — |  |  | (1.3 | )
Total equity (deficit) | 9,309.6 |  |  | 375.8 |  |  | (648.2 | ) |  | 12,064.6 |  |  | (11,792.2 | ) |  | 9,309.6 |
| $ | 13,913.9 |  |  | $ | 1,234.0 |  |  | $ | 1,263.8 |  |  | $ | 19,520.7 |  |  | $ | (19,001.2 | ) |  | $ | 16,931.2 |
Condensed Consolidating Statements Of Cash Flows |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2020 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | (88.3 | ) |  | $ | 226.2 |  |  | $ | (28.7 | ) |  | $ | (313.6 | ) |  | $ | — |  |  | $ | (204.4 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (36.3 | ) |  | — |  |  | (36.3 | )
Proceeds from disposition of assets | — |  |  | — |  |  | — |  |  | 10.4 |  |  | — |  |  | 10.4 |
Net cash used in investing activities | — |  |  | — |  |  | — |  |  | (25.9 | ) |  | — |  |  | (25.9 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrowings on credit facility | 343.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 343.9 |
Advances from (to) affiliates | (113.7 | ) |  | (226.2 | ) |  | 28.7 |  |  | 311.2 |  |  | — |  |  | — |
Repayments of credit facility borrowings | (15.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (15.0 | )
Reduction of long -term borrowings | (9.7 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9.7 | )
Other | (.9 | ) |  | — |  |  | — |  |  |  |  |  | — |  |  | (.9 | )
Net cash provided by (used in) financing activities | 204.6 |  |  | (226.2 | ) |  | 28.7 |  |  | 311.2 |  |  | — |  |  | 318.3 |
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.3 | ) |  |  |  |  | (.3 | )
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 116.3 |  |  | — |  |  | — |  |  | (28.6 | ) |  | — |  |  | 87.7 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 21.5 |  |  | — |  |  | — |  |  | 75.7 |  |  | — |  |  | 97.2 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 137.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 47.1 |  |  | $ | — |  |  | $ | 184.9 |
VALARIS PLC AND SUBSIDIARIES CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS Three Months Ended March 31, 2019 (In millions) (Unaudited)
| Valaris plc |  | ENSCO International Incorporated |  | Pride International LLC |  | Other Non-guarantor Subsidiaries of Valaris |  | Consolidating Adjustments |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities | $ | (45.9 | ) |  | $ | (43.0 | ) |  | $ | (55.2 | ) |  | $ | 119.7 |  |  | $ | — |  |  | $ | (24.4 | )
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturities of short-term investments | 204.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 204.0 |
Purchases of short-term investments | (120.0 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (120.0 | )
Additions to property and equipment | — |  |  | — |  |  | — |  |  | (29.0 | ) |  | — |  |  | (29.0 | )
Other | — |  |  | — |  |  | — |  |  | .3 |  |  | — |  |  | .3 |
Net cash provided by (used in) investing activities | 84.0 |  |  | — |  |  | — |  |  | (28.7 | ) |  | — |  |  | 55.3 |
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends paid | (4.5 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (4.5 | )
Advances from (to) affiliates | 15.3 |  |  | 43.0 |  |  | 54.8 |  |  | (113.1 | ) |  | — |  |  | — |
Other | (2.8 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (2.8 | )
Net cash provided by (used in) financing activities | 8.0 |  |  | 43.0 |  |  | 54.8 |  |  | (113.1 | ) |  | — |  |  | (7.3 | )
Effect of exchange rate changes on cash and cash equivalents | — |  |  | — |  |  | — |  |  | (.3 | ) |  | — |  |  | (.3 | )
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 46.1 |  |  | — |  |  | (.4 | ) |  | (22.4 | ) |  | — |  |  | 23.3 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 199.8 |  |  | — |  |  | 2.7 |  |  | 72.6 |  |  | — |  |  | 275.1 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 245.9 |  |  | $ | — |  |  | $ | 2.3 |  |  | $ | 50.2 |  |  | $ | — |  |  | $ | 298.4 |

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