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Subsidiary Guarantors of the Notes (Tables) | 6 Months Ended
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Jun. 15, 2013
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Consolidated Condensed Statements of Operations and Comprehensive Income | WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 12 weeks ended June 15, 2013 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non- Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | 107.3 |  |  | $ | 407.7 |  |  | $ | 140.7 |  |  | $ | (67.9 | ) |  | $ | 587.8 |
Cost of goods sold |  |  | 75.6 |  |  |  | 255.2 |  |  |  | 68.1 |  |  |  | (52.2 | ) |  |  | 346.7 |
Gross profit |  |  | 31.7 |  |  |  | 152.5 |  |  |  | 72.6 |  |  |  | (15.7 | ) |  |  | 241.1 |
Selling, general and administrative expenses |  |  | 48.0 |  |  |  | 97.0 |  |  |  | 66.8 |  |  |  | (15.6 | ) |  |  | 196.2 |
Acquisition-related transaction and integration costs |  |  | 3.3 |  |  |  | 1.7 |  |  |  | 2.9 |  |  |  | — |  |  |  | 7.9 |
Operating profit |  |  | (19.6 | ) |  |  | 53.8 |  |  |  | 2.9 |  |  |  | (0.1 | ) |  |  | 37.0 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense – net |  |  | 0.4 |  |  |  | 12.0 |  |  |  | 0.1 |  |  |  | — |  |  |  | 12.5 |
Other expense – net |  |  | (0.1 | ) |  |  | 0.1 |  |  |  | 0.6 |  |  |  | — |  |  |  | 0.6 |
|  |  | 0.3 |  |  |  | 12.1 |  |  |  | 0.7 |  |  |  | — |  |  |  | 13.1 |
Earnings before income taxes |  |  | (19.9 | ) |  |  | 41.7 |  |  |  | 2.2 |  |  |  | (0.1 | ) |  |  | 23.9 |
Income taxes |  |  | 5.1 |  |  |  | — |  |  |  | 0.7 |  |  |  | — |  |  |  | 5.8 |
Earnings before equity in earnings (losses) of consolidated subsidiaries |  |  | (25.0 | ) |  |  | 41.7 |  |  |  | 1.5 |  |  |  | (0.1 | ) |  |  | 18.1 |
Equity in earnings (losses) of consolidated subsidiaries |  |  | 42.9 |  |  |  | 74.4 |  |  |  | 10.5 |  |  |  | (127.8 | ) |  |  | — |
Net earnings |  |  | 17.9 |  |  |  | 116.1 |  |  |  | 12.0 |  |  |  | (127.9 | ) |  |  | 18.1 |
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Net earnings (loss) attributable to Wolverine World Wide, Inc. |  | $ | 17.9 |  |  | $ | 116.1 |  |  | $ | 11.8 |  |  | $ | (127.9 | ) |  | $ | 17.9 |
Comprehensive income |  | $ | 26.9 |  |  | $ | 116.1 |  |  | $ | 15.9 |  |  | $ | (131.8 | ) |  | $ | 27.1 |
Comprehensive (income) loss attributable to non-controlling interest |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | — |  |  |  | (0.2 | )
Comprehensive income attributable to Wolverine World Wide, Inc. |  | $ | 26.9 |  |  | $ | 116.1 |  |  | $ | 15.7 |  |  | $ | (131.8 | ) |  | $ | 26.9 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 12 weeks ended June 16, 2012 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | 109.5 |  |  | $ | 131.2 |  |  | $ | 97.0 |  |  | $ | (25.0 | ) |  | $ | 312.7 |
Cost of goods sold |  |  | 81.2 |  |  |  | 82.4 |  |  |  | 48.1 |  |  |  | (17.1 | ) |  |  | 194.6 |
Gross profit |  |  | 28.3 |  |  |  | 48.8 |  |  |  | 48.9 |  |  |  | (7.9 | ) |  |  | 118.1 |
Selling, general and administrative expenses |  |  | 34.3 |  |  |  | 25.0 |  |  |  | 39.4 |  |  |  | (8.3 | ) |  |  | 90.4 |
Acquisition-related transaction and integration costs |  |  | 4.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4.9 |
Operating profit |  |  | (10.9 | ) |  |  | 23.8 |  |  |  | 9.5 |  |  |  | 0.4 |  |  |  | 22.8 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense – net |  |  | (0.3 | ) |  |  | — |  |  |  | 0.6 |  |  |  | — |  |  |  | 0.3 |
Other expense – net |  |  | — |  |  |  | — |  |  |  | 0.7 |  |  |  | — |  |  |  | 0.7 |
|  |  | (0.3 | ) |  |  | — |  |  |  | 1.3 |  |  |  | — |  |  |  | 1.0 |
Earnings before income taxes |  |  | (10.6 | ) |  |  | 23.8 |  |  |  | 8.2 |  |  |  | 0.4 |  |  |  | 21.8 |
Income taxes |  |  | 1.4 |  |  |  | — |  |  |  | 0.1 |  |  |  | — |  |  |  | 1.5 |
Earnings before equity in earnings (losses) of consolidated subsidiaries |  |  | (12.0 | ) |  |  | 23.8 |  |  |  | 8.1 |  |  |  | 0.4 |  |  |  | 20.3 |
Equity in earnings (losses) of consolidated subsidiaries |  |  | 32.5 |  |  |  | 8.2 |  |  |  | 8.4 |  |  |  | (49.1 | ) |  |  | — |
Net earnings |  |  | 20.5 |  |  |  | 32.0 |  |  |  | 16.5 |  |  |  | (48.7 | ) |  |  | 20.3 |
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | — |  |  |  | (0.2 | )
Net earnings (loss) attributable to Wolverine World Wide, Inc. |  | $ | 20.5 |  |  | $ | 32.0 |  |  | $ | 16.7 |  |  | $ | (48.7 | ) |  | $ | 20.5 |
Comprehensive income |  | $ | 17.9 |  |  | $ | 31.9 |  |  | $ | 13.9 |  |  | $ | (46.0 | ) |  | $ | 17.7 |
Comprehensive (income) loss attributable to non-controlling interest |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Comprehensive income attributable to Wolverine World Wide, Inc. |  | $ | 17.9 |  |  | $ | 31.9 |  |  | $ | 14.1 |  |  | $ | (46.0 | ) |  | $ | 17.9 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 24 weeks ended June 15, 2013 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | 221.6 |  |  | $ | 1,340.8 |  |  | $ | 322.0 |  |  | $ | (650.7 | ) |  | $ | 1,233.7 |
Cost of goods sold |  |  | 158.7 |  |  |  | 1,027.2 |  |  |  | 163.8 |  |  |  | (619.1 | ) |  |  | 730.6 |
Gross profit |  |  | 62.9 |  |  |  | 313.6 |  |  |  | 158.2 |  |  |  | (31.6 | ) |  |  | 503.1 |
Selling, general and administrative expenses |  |  | 88.2 |  |  |  | 210.7 |  |  |  | 123.7 |  |  |  | (30.6 | ) |  |  | 392.0 |
Acquisition-related transaction and integration costs |  |  | 8.4 |  |  |  | 11.6 |  |  |  | 3.1 |  |  |  | — |  |  |  | 23.1 |
Operating profit |  |  | (33.7 | ) |  |  | 91.3 |  |  |  | 31.4 |  |  |  | (1.0 | ) |  |  | 88.0 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense – net |  |  | 13.4 |  |  |  | 12.1 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 25.4 |
Other expense – net |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | 0.2 |  |  |  | 1.0 |
|  |  | 13.4 |  |  |  | 12.1 |  |  |  | 0.7 |  |  |  | 0.2 |  |  |  | 26.4 |
Earnings before income taxes |  |  | (47.1 | ) |  |  | 79.2 |  |  |  | 30.7 |  |  |  | (1.2 | ) |  |  | 61.6 |
Income taxes |  |  | 10.6 |  |  |  | — |  |  |  | 3.1 |  |  |  | — |  |  |  | 13.7 |
Earnings before equity in earnings (losses) of consolidated subsidiaries |  |  | (57.7 | ) |  |  | 79.2 |  |  |  | 27.6 |  |  |  | (1.2 | ) |  |  | 47.9 |
Equity in earnings (losses) of consolidated subsidiaries |  |  | 105.4 |  |  |  | 160.4 |  |  |  | 52.0 |  |  |  | (317.8 | ) |  |  | — |
Net earnings |  |  | 47.7 |  |  |  | 239.6 |  |  |  | 79.6 |  |  |  | (319.0 | ) |  |  | 47.9 |
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Net earnings (loss) attributable to Wolverine World Wide, Inc. |  | $ | 47.7 |  |  | $ | 239.6 |  |  | $ | 79.4 |  |  | $ | (319.0 | ) |  | $ | 47.7 |
Comprehensive income |  | $ | 52.8 |  |  | $ | 239.6 |  |  | $ | 75.1 |  |  | $ | (314.5 | ) |  | $ | 53.0 |
Comprehensive (income) loss attributable to non-controlling interest |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | — |  |  |  | (0.2 | )
Comprehensive income attributable to Wolverine World Wide, Inc. |  | $ | 52.8 |  |  | $ | 239.6 |  |  | $ | 74.9 |  |  | $ | (314.5 | ) |  | $ | 52.8 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 24 weeks ended June 16, 2012 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | 220.1 |  |  | $ | 247.2 |  |  | $ | 217.0 |  |  | $ | (48.8 | ) |  | $ | 635.5 |
Cost of goods sold |  |  | 162.9 |  |  |  | 150.6 |  |  |  | 105.7 |  |  |  | (34.0 | ) |  |  | 385.2 |
Gross profit |  |  | 57.2 |  |  |  | 96.6 |  |  |  | 111.3 |  |  |  | (14.8 | ) |  |  | 250.3 |
Selling, general and administrative expenses |  |  | 64.4 |  |  |  | 52.4 |  |  |  | 84.5 |  |  |  | (15.7 | ) |  |  | 185.6 |
Acquisition-related transaction and integration costs |  |  | 4.9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4.9 |
Operating profit |  |  | (12.1 | ) |  |  | 44.2 |  |  |  | 26.8 |  |  |  | 0.9 |  |  |  | 59.8 |
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense – net |  |  | — |  |  |  | — |  |  |  | 0.8 |  |  |  | — |  |  |  | 0.8 |
Other expense – net |  |  | — |  |  |  | — |  |  |  | 1.6 |  |  |  | — |  |  |  | 1.6 |
|  |  | — |  |  |  | — |  |  |  | 2.4 |  |  |  | — |  |  |  | 2.4 |
Earnings before income taxes |  |  | (12.1 | ) |  |  | 44.2 |  |  |  | 24.4 |  |  |  | 0.9 |  |  |  | 57.4 |
Income taxes |  |  | 6.3 |  |  |  | — |  |  |  | (0.4 | ) |  |  | — |  |  |  | 5.9 |
Earnings before equity in earnings (losses) of consolidated subsidiaries |  |  | (18.4 | ) |  |  | 44.2 |  |  |  | 24.8 |  |  |  | 0.9 |  |  |  | 51.5 |
Equity in earnings (losses) of consolidated subsidiaries |  |  | 70.1 |  |  |  | 20.4 |  |  |  | 35.1 |  |  |  | (125.6 | ) |  |  | — |
Net earnings |  |  | 51.7 |  |  |  | 64.6 |  |  |  | 59.9 |  |  |  | (124.7 | ) |  |  | 51.5 |
Net earnings (loss) attributable to non-controlling interests |  |  | — |  |  |  | — |  |  |  | (0.2 | ) |  |  | — |  |  |  | (0.2 | )
Net earnings attributable to Wolverine World Wide, Inc. |  | $ | 51.7 |  |  | $ | 64.6 |  |  | $ | 60.1 |  |  | $ | (124.7 | ) |  | $ | 51.7 |
Comprehensive income |  | $ | 48.9 |  |  | $ | 64.6 |  |  | $ | 57.1 |  |  | $ | (121.9 | ) |  | $ | 48.7 |
Comprehensive (income) loss attributable to non-controlling interest |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Comprehensive income attributable to Wolverine World Wide, Inc. |  | $ | 48.9 |  |  | $ | 64.6 |  |  | $ | 57.3 |  |  | $ | (121.9 | ) |  | $ | 48.9 |
Consolidated Condensed Balance Sheets | WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets As of June 15, 2013 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 22.7 |  |  | $ | 15.9 |  |  | $ | 132.4 |  |  | $ | — |  |  | $ | 171.0 |
Accounts receivable, net |  |  | 89.2 |  |  |  | 195.0 |  |  |  | 113.7 |  |  |  | — |  |  |  | 397.9 |
Inventories: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finished products |  |  | 58.4 |  |  |  | 311.1 |  |  |  | 86.7 |  |  |  | (1.9 | ) |  |  | 454.3 |
Raw materials and work-in-process |  |  | 0.9 |  |  |  | 1.0 |  |  |  | 28.5 |  |  |  | — |  |  |  | 30.4 |
|  |  | 59.3 |  |  |  | 312.1 |  |  |  | 115.2 |  |  |  | (1.9 | ) |  |  | 484.7 |
Deferred income taxes |  |  | 9.4 |  |  |  | 17.0 |  |  |  | 1.2 |  |  |  | — |  |  |  | 27.6 |
Prepaid expenses and other current assets |  |  | 22.4 |  |  |  | 6.3 |  |  |  | 12.3 |  |  |  | 0.5 |  |  |  | 41.5 |
Total current assets |  |  | 203.0 |  |  |  | 546.3 |  |  |  | 374.8 |  |  |  | (1.4 | ) |  |  | 1,122.7 |
Property, plant and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross cost |  |  | 217.4 |  |  |  | 125.4 |  |  |  | 54.6 |  |  |  | — |  |  |  | 397.4 |
Accumulated depreciation |  |  | (168.2 | ) |  |  | (44.4 | ) |  |  | (36.1 | ) |  |  | — |  |  |  | (248.7 | )
|  |  | 49.2 |  |  |  | 81.0 |  |  |  | 18.5 |  |  |  | — |  |  |  | 148.7 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and indefinite-lived intangibles |  |  | 11.6 |  |  |  | 1,029.5 |  |  |  | 96.5 |  |  |  | — |  |  |  | 1,137.6 |
Amortizable intangibles, net |  |  | 0.4 |  |  |  | 142.8 |  |  |  | 0.2 |  |  |  | — |  |  |  | 143.4 |
Deferred income taxes |  |  | 0.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.2 |
Deferred financing costs, net |  |  | 35.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35.8 |
Other |  |  | 43.9 |  |  |  | 9.8 |  |  |  | 1.0 |  |  |  | 1.6 |  |  |  | 56.3 |
Intercompany accounts receivable |  |  | — |  |  |  | 1,182.0 |  |  |  | 105.3 |  |  |  | (1,287.3 | ) |  |  | — |
Investment in affiliates |  |  | 2,677.4 |  |  |  | 378.6 |  |  |  | 398.4 |  |  |  | (3,454.4 | ) |  |  | — |
|  |  | 2,769.3 |  |  |  | 2,742.7 |  |  |  | 601.4 |  |  |  | (4,740.1 | ) |  |  | 1,373.3 |
Total assets |  | $ | 3,021.5 |  |  | $ | 3,370.0 |  |  | $ | 994.7 |  |  | $ | (4,741.5 | ) |  | $ | 2,644.7 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 25.8 |  |  | $ | 130.0 |  |  | $ | 36.3 |  |  | $ | — |  |  | $ | 192.1 |
Accrued salaries and wages |  |  | 16.6 |  |  |  | 19.7 |  |  |  | 7.3 |  |  |  | — |  |  |  | 43.6 |
Other accrued liabilities |  |  | 44.9 |  |  |  | 15.2 |  |  |  | 32.5 |  |  |  | 0.2 |  |  |  | 92.8 |
Current maturities of long-term debt |  |  | 37.1 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 37.1 |
Total current liabilities |  |  | 124.4 |  |  |  | 164.9 |  |  |  | 76.1 |  |  |  | 0.2 |  |  |  | 365.6 |
Long-term debt, less current maturities |  |  | 1,147.6 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,147.6 |
Accrued pension liabilities |  |  | 130.6 |  |  |  | 36.3 |  |  |  | — |  |  |  | — |  |  |  | 166.9 |
Deferred income taxes |  |  | (52.1 | ) |  |  | 290.7 |  |  |  | 1.5 |  |  |  | — |  |  |  | 240.1 |
Intercompany accounts payable |  |  | 959.7 |  |  |  | 6.3 |  |  |  | 321.3 |  |  |  | (1,287.3 | ) |  |  | — |
Other liabilities |  |  | 8.2 |  |  |  | 8.8 |  |  |  | 2.9 |  |  |  | — |  |  |  | 19.9 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wolverine World Wide, Inc. stockholders’ equity |  |  | 703.1 |  |  |  | 2,863.0 |  |  |  | 591.4 |  |  |  | (3,454.4 | ) |  |  | 703.1 |
Non-controlling interest |  |  | — |  |  |  | — |  |  |  | 1.5 |  |  |  | — |  |  |  | 1.5 |
Total stockholders’ equity |  |  | 703.1 |  |  |  | 2,863.0 |  |  |  | 592.9 |  |  |  | (3,454.4 | ) |  |  | 704.6 |
Total liabilities and stockholders’ equity |  | $ | 3,021.5 |  |  | $ | 3,370.0 |  |  | $ | 994.7 |  |  | $ | (4,741.5 | ) |  | $ | 2,644.7 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets As of June 16, 2012 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2.6 |  |  | $ | 0.4 |  |  | $ | 153.6 |  |  | $ | — |  |  | $ | 156.6 |
Accounts receivable, net |  |  | 82.8 |  |  |  | 76.6 |  |  |  | 75.8 |  |  |  | — |  |  |  | 235.2 |
Inventories: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finished products |  |  | 70.5 |  |  |  | 73.3 |  |  |  | 73.0 |  |  |  | — |  |  |  | 216.8 |
Raw materials and work-in-process |  |  | 1.4 |  |  |  | 0.3 |  |  |  | 25.4 |  |  |  | — |  |  |  | 27.1 |
|  |  | 71.9 |  |  |  | 73.6 |  |  |  | 98.4 |  |  |  | — |  |  |  | 243.9 |
Deferred income taxes |  |  | 11.4 |  |  |  | — |  |  |  | (1.0 | ) |  |  | — |  |  |  | 10.4 |
Prepaid expenses and other current assets |  |  | 15.9 |  |  |  | 4.2 |  |  |  | 8.0 |  |  |  | 1.1 |  |  |  | 29.2 |
Total current assets |  |  | 184.6 |  |  |  | 154.8 |  |  |  | 334.8 |  |  |  | 1.1 |  |  |  | 675.3 |
Property, plant and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross cost |  |  | 207.4 |  |  |  | 45.3 |  |  |  | 44.5 |  |  |  | — |  |  |  | 297.2 |
Accumulated depreciation |  |  | (160.7 | ) |  |  | (30.0 | ) |  |  | (30.7 | ) |  |  | — |  |  |  | (221.4 | )
|  |  | 46.7 |  |  |  | 15.3 |  |  |  | 13.8 |  |  |  | — |  |  |  | 75.8 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill and indefinite-lived intangibles |  |  | 11.1 |  |  |  | 14.1 |  |  |  | 31.4 |  |  |  | — |  |  |  | 56.6 |
Amortizable intangibles, net |  |  | 0.3 |  |  |  | 0.4 |  |  |  | 0.3 |  |  |  | — |  |  |  | 1.0 |
Deferred income taxes |  |  | 44.2 |  |  |  | — |  |  |  | (2.2 | ) |  |  | — |  |  |  | 42.0 |
Deferred financing costs, net |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0.5 |
Other |  |  | 41.5 |  |  |  | — |  |  |  | 1.1 |  |  |  | (1.5 | ) |  |  | 41.1 |
Intercompany accounts receivable |  |  | 220.6 |  |  |  | 413.6 |  |  |  | 110.8 |  |  |  | (745.0 | ) |  |  | — |
Investment in affiliates |  |  | 709.4 |  |  |  | 187.0 |  |  |  | 359.2 |  |  |  | (1,255.6 | ) |  |  | — |
|  |  | 1,027.6 |  |  |  | 615.1 |  |  |  | 500.6 |  |  |  | (2,002.1 | ) |  |  | 141.2 |
Total assets |  | $ | 1,258.9 |  |  | $ | 785.2 |  |  | $ | 849.2 |  |  | $ | (2,001.0 | ) |  | $ | 892.3 |
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 23.9 |  |  | $ | 18.5 |  |  | $ | 18.4 |  |  | $ | — |  |  | $ | 60.8 |
Accrued salaries and wages |  |  | 9.4 |  |  |  | 1.5 |  |  |  | 4.4 |  |  |  | — |  |  |  | 15.3 |
Other accrued liabilities |  |  | 24.8 |  |  |  | 10.5 |  |  |  | 21.5 |  |  |  | (0.4 | ) |  |  | 56.4 |
Borrowings under revolving credit agreement |  |  | 28.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28.0 |
Total current liabilities |  |  | 86.1 |  |  |  | 30.5 |  |  |  | 44.3 |  |  |  | (0.4 | ) |  |  | 160.5 |
Long-term debt, less current maturities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued pension liabilities |  |  | 89.3 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 89.3 |
Intercompany accounts payable |  |  | 447.8 |  |  |  | 5.7 |  |  |  | 291.5 |  |  |  | (745.0 | ) |  |  | — |
Other liabilities |  |  | 8.1 |  |  |  | 1.2 |  |  |  | 4.6 |  |  |  | — |  |  |  | 13.9 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wolverine World Wide, Inc. stockholders’ equity |  |  | 627.6 |  |  |  | 747.8 |  |  |  | 507.8 |  |  |  | (1,255.6 | ) |  |  | 627.6 |
Non-controlling interest |  |  | — |  |  |  | — |  |  |  | 1.0 |  |  |  | — |  |  |  | 1.0 |
Total stockholders’ equity |  |  | 627.6 |  |  |  | 747.8 |  |  |  | 508.8 |  |  |  | (1,255.6 | ) |  |  | 628.6 |
Total liabilities and stockholders’ equity |  | $ | 1,258.9 |  |  | $ | 785.2 |  |  | $ | 849.2 |  |  | $ | (2001.0 | ) |  | $ | 892.3 |
Consolidated Condensed Statements of Cash Flow | WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flow For the 24 weeks ended June 15, 2013 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | 80.3 |  |  | $ | (25.1 | ) |  | $ | 32.3 |  |  | $ | — |  |  | $ | 87.5 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to property, plant and equipment |  |  | (7.4 | ) |  |  | (7.3 | ) |  |  | — |  |  |  | — |  |  |  | (14.7 | )
Proceeds from sale of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  |  |
|  | — |  |  |  | — |  |  |  | 2.8 |  |  |  | — |  |  |  | 2.8 |
Investment in joint venture |  |  | — |  |  |  | — |  |  |  | (1.6 | ) |  |  | — |  |  |  | (1.6 | )
Other |  |  | (0.1 | ) |  |  | (0.2 | ) |  |  | (0.9 | ) |  |  | — |  |  |  | (1.2 | )
Net cash provided by (used in) investing activities |  |  | (7.5 | ) |  |  | (7.5 | ) |  |  | 0.3 |  |  |  | — |  |  |  | (14.7 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments of long-term debt |  |  | (65.3 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (65.3 | )
Cash dividends paid |  |  | (11.8 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11.8 | )
Surrender of common stock for treasury |  |  | (0.3 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (0.3 | )
Proceeds from shares issued under stock incentive plans |  |  | 4.8 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4.8 |
Excess tax benefits from stock-based compensation |  |  | 1.2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1.2 |
Net cash provided by (used in) financing activities |  |  | (71.4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (71.4 | )
Effect of foreign exchange rate changes |  |  | — |  |  |  | — |  |  |  | (1.8 | ) |  |  | — |  |  |  | (1.8 | )
Increase (decrease) in cash and cash equivalents |  |  | 1.4 |  |  |  | (32.6 | ) |  |  | 30.8 |  |  |  | — |  |  |  | (0.4 | )
Cash and cash equivalents at beginning of the period |  |  | 21.3 |  |  |  | 48.5 |  |  |  | 101.6 |  |  |  | — |  |  |  | 171.4 |
Cash and cash equivalents at end of the period |  | $ | 22.7 |  |  | $ | 15.9 |  |  | $ | 132.4 |  |  | $ | — |  |  | $ | 171.0 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flow For the 24 weeks ended June 16, 2012 (Unaudited)
(In millions) |  | Parent |  |  | Subsidiary Guarantors |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net cash provided by (used in) operating activities |  | $ | (2.9 | ) |  | $ | (1.5 | ) |  | $ | 19.9 |  |  | $ | — |  |  | $ | 15.5 |
Investing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to property, plant and equipment |  |  | (3.8 | ) |  |  | (0.9 | ) |  |  | — |  |  |  | — |  |  |  | (4.7 | )
Investment in joint venture |  |  | — |  |  |  | — |  |  |  | (1.6 | ) |  |  | — |  |  |  | (1.6 | )
Other |  |  | (0.6 | ) |  |  | (0.2 | ) |  |  | (0.5 | ) |  |  | — |  |  |  | (1.3 | )
Net cash provided by (used in) investing activities |  |  | (4.4 | ) |  |  | (1.1 | ) |  |  | (2.1 | ) |  |  | — |  |  |  | (7.6 | )
Financing activities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net borrowings under revolver |  |  | 17.0 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17.0 |
Payments of long-term debt |  |  | — |  |  |  | — |  |  |  | (0.5 | ) |  |  | — |  |  |  | (0.5 | )
Cash dividends paid |  |  | (11.8 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11.8 | )
Purchase of common stock for treasury |  |  | (2.4 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (2.4 | )
Surrender of common stock for treasury |  |  | (5.6 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5.6 | )
Proceeds from shares issued under stock incentive plans |  |  | 7.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7.5 |
Excess tax benefits from stock-based compensation |  |  | 3.7 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3.7 |
Contributions from non-controlling interests |  |  | — |  |  |  | — |  |  |  | 1.2 |  |  |  | — |  |  |  | 1.2 |
Net cash provided by (used in) financing activities |  |  | 8.4 |  |  |  | — |  |  |  | 0.7 |  |  |  | — |  |  |  | 9.1 |
Effect of foreign exchange rate changes |  |  | — |  |  |  | — |  |  |  | (0.4 | ) |  |  | — |  |  |  | (0.4 | )
Increase (decrease) in cash and cash equivalents |  |  | 1.1 |  |  |  | (2.6 | ) |  |  | 18.1 |  |  |  | — |  |  |  | 16.6 |
Cash and cash equivalents at beginning of the period |  |  | 1.5 |  |  |  | 3.0 |  |  |  | 135.5 |  |  |  | — |  |  |  | 140.0 |
Cash and cash equivalents at end of the period |  | $ | 2.6 |  |  | $ | 0.4 |  |  | $ | 153.6 |  |  | $ | — |  |  | $ | 156.6 |

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