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Subsidiary Guarantors of the Notes (Tables) | 9 Months Ended
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Sep. 07, 2013
Condensed Financial Information of Parent Company Only Disclosure [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 September 7, 2013 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 135.5 |  |  | $ | 1,527.4 |  |  | $ | 226.0 |  |  | $ | (1,172.3 | ) |  | $ | 716.6 |
Cost of goods sold | 95.0 |  |  | 1,358.1 |  |  | 130.1 |  |  | (1,152.6 | ) |  | 430.6 |
Gross profit | 40.5 |  |  | 169.3 |  |  | 95.9 |  |  | (19.7 | ) |  | 286.0 |
Selling, general and administrative expenses | 24.5 |  |  | 115.2 |  |  | 72.6 |  |  | (20.0 | ) |  | 192.3 |
Acquisition-related transaction and integration costs | 4.1 |  |  | 1.2 |  |  | 2.1 |  |  | — |  |  | 7.4 |
Operating profit | 11.9 |  |  | 52.9 |  |  | 21.2 |  |  | 0.3 |  |  | 86.3 |
Other expenses: |  |  |  |  |  |  |  |  |
Interest expense – net | 11.9 |  |  | — |  |  | — |  |  | — |  |  | 11.9 |
Acquisition-related interest expense | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other expense – net | (0.9 | ) |  | 0.1 |  |  | 2.0 |  |  | (0.2 | ) |  | 1.0 |
| 11.0 |  |  | 0.1 |  |  | 2.0 |  |  | (0.2 | ) |  | 12.9 |
Earnings before income taxes | 0.9 |  |  | 52.8 |  |  | 19.2 |  |  | 0.5 |  |  | 73.4 |
Income taxes | 17.1 |  |  | — |  |  | 1.9 |  |  | — |  |  | 19.0 |
Earnings before equity in earnings (loss) of consolidated subsidiaries | (16.2 | ) |  | 52.8 |  |  | 17.3 |  |  | 0.5 |  |  | 54.4 |
Equity in earnings (loss) of consolidated subsidiaries | 70.6 |  |  | 133.0 |  |  | (6.1 | ) |  | (197.5 | ) |  | — |
Net earnings | 54.4 |  |  | 185.8 |  |  | 11.2 |  |  | (197.0 | ) |  | 54.4 |
Net (earnings) loss attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings (loss) attributable to Wolverine World Wide, Inc. | $ | 54.4 |  |  | $ | 185.8 |  |  | $ | 11.2 |  |  | $ | (197.0 | ) |  | $ | 54.4 |
Comprehensive income | $ | 58.4 |  |  | $ | 185.8 |  |  | $ | 7.3 |  |  | $ | (193.1 | ) |  | $ | 58.4 |
Comprehensive (income) loss attributable to non-controlling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive income attributable to Wolverine World Wide, Inc. | $ | 58.4 |  |  | $ | 185.8 |  |  | $ | 7.3 |  |  | $ | (193.1 | ) |  | $ | 58.4 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 12 weeks ended September 8, 2012 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 129.5 |  |  | $ | 128.5 |  |  | $ | 128.0 |  |  | $ | (32.9 | ) |  | $ | 353.1 |
Cost of goods sold | 93.6 |  |  | 80.3 |  |  | 65.0 |  |  | (24.4 | ) |  | 214.5 |
Gross profit | 35.9 |  |  | 48.2 |  |  | 63.0 |  |  | (8.5 | ) |  | 138.6 |
Selling, general and administrative expenses | 22.1 |  |  | 32.1 |  |  | 43.6 |  |  | (8.5 | ) |  | 89.3 |
Acquisition-related transaction and integration costs | 3.0 |  |  | — |  |  | — |  |  | — |  |  | 3.0 |
Operating profit | 10.8 |  |  | 16.1 |  |  | 19.4 |  |  | — |  |  | 46.3 |
Other expenses: |  |  |  |  |  |  |  |  |
Interest expense – net | 0.8 |  |  | (0.1 | ) |  | (0.4 | ) |  | — |  |  | 0.3 |
Acquisition-related interest expense | 1.4 |  |  | — |  |  | — |  |  | — |  |  | 1.4 |
Other expense – net | — |  |  | 0.1 |  |  | (0.4 | ) |  | — |  |  | (0.3 | )
| 2.2 |  |  | — |  |  | (0.8 | ) |  | — |  |  | 1.4 |
Earnings before income taxes | 8.6 |  |  | 16.1 |  |  | 20.2 |  |  | — |  |  | 44.9 |
Income taxes | 10.6 |  |  | — |  |  | 1.5 |  |  | — |  |  | 12.1 |
Earnings before equity in earnings (loss) of consolidated subsidiaries | (2.0 | ) |  | 16.1 |  |  | 18.7 |  |  | — |  |  | 32.8 |
Equity in earnings (loss) of consolidated subsidiaries | 34.7 |  |  | 19.3 |  |  | 24.8 |  |  | (78.8 | ) |  | — |
Net earnings | 32.7 |  |  | 35.4 |  |  | 43.5 |  |  | (78.8 | ) |  | 32.8 |
Net (earnings) loss attributable to non-controlling interests | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Net earnings (loss) attributable to Wolverine World Wide, Inc. | $ | 32.7 |  |  | $ | 35.4 |  |  | $ | 43.4 |  |  | $ | (78.8 | ) |  | $ | 32.7 |
Comprehensive income | $ | 37.1 |  |  | $ | 35.4 |  |  | $ | 47.9 |  |  | $ | (83.2 | ) |  | $ | 37.2 |
Comprehensive (income) loss attributable to non-controlling interest | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Comprehensive income attributable to Wolverine World Wide, Inc. | $ | 37.1 |  |  | $ | 35.4 |  |  | $ | 47.8 |  |  | $ | (83.2 | ) |  | $ | 37.1 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 36 weeks ended September 7, 2013 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 357.1 |  |  | $ | 2,868.2 |  |  | $ | 548.0 |  |  | $ | (1,823.0 | ) |  | $ | 1,950.3 |
Cost of goods sold | 253.7 |  |  | 2,385.3 |  |  | 293.9 |  |  | (1,771.7 | ) |  | 1,161.2 |
Gross profit | 103.4 |  |  | 482.9 |  |  | 254.1 |  |  | (51.3 | ) |  | 789.1 |
Selling, general and administrative expenses | 112.7 |  |  | 325.9 |  |  | 196.3 |  |  | (50.6 | ) |  | 584.3 |
Acquisition-related transaction and integration costs | 12.5 |  |  | 12.8 |  |  | 5.2 |  |  | — |  |  | 30.5 |
Operating profit | (21.8 | ) |  | 144.2 |  |  | 52.6 |  |  | (0.7 | ) |  | 174.3 |
Other expenses: |  |  |  |  |  |  |  |  |
Interest expense – net | 37.3 |  |  | — |  |  | — |  |  | — |  |  | 37.3 |
Acquisition-related interest expense | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other expense – net | (0.9 | ) |  | 0.1 |  |  | 2.8 |  |  | — |  |  | 2.0 |
| 36.4 |  |  | 0.1 |  |  | 2.8 |  |  | — |  |  | 39.3 |
Earnings before income taxes | (58.2 | ) |  | 144.1 |  |  | 49.8 |  |  | (0.7 | ) |  | 135.0 |
Income taxes | 27.7 |  |  | — |  |  | 5.0 |  |  | — |  |  | 32.7 |
Earnings before equity in earnings (loss) of consolidated subsidiaries | (85.9 | ) |  | 144.1 |  |  | 44.8 |  |  | (0.7 | ) |  | 102.3 |
Equity in earnings (loss) of consolidated subsidiaries | 188.0 |  |  | 293.4 |  |  | 45.9 |  |  | (527.3 | ) |  | — |
Net earnings | 102.1 |  |  | 437.5 |  |  | 90.7 |  |  | (528.0 | ) |  | 102.3 |
Net (earnings) loss attributable to non-controlling interests | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Net earnings (loss) attributable to Wolverine World Wide, Inc. | $ | 102.1 |  |  | $ | 437.5 |  |  | $ | 90.5 |  |  | $ | (528.0 | ) |  | $ | 102.1 |
Comprehensive income | $ | 111.2 |  |  | $ | 437.5 |  |  | $ | 82.3 |  |  | $ | (519.6 | ) |  | $ | 111.4 |
Comprehensive (income) loss attributable to non-controlling interest | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Comprehensive income attributable to Wolverine World Wide, Inc. | $ | 111.2 |  |  | $ | 437.5 |  |  | $ | 82.1 |  |  | $ | (519.6 | ) |  | $ | 111.2 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Operations and Comprehensive Income For the 36 weeks ended September 8, 2012 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Revenue | $ | 349.6 |  |  | $ | 375.7 |  |  | $ | 345.0 |  |  | $ | (81.7 | ) |  | $ | 988.6 |
Cost of goods sold | 256.6 |  |  | 230.9 |  |  | 170.7 |  |  | (58.4 | ) |  | 599.8 |
Gross profit | 93.0 |  |  | 144.8 |  |  | 174.3 |  |  | (23.3 | ) |  | 388.8 |
Selling, general and administrative expenses | 86.4 |  |  | 84.5 |  |  | 128.1 |  |  | (24.2 | ) |  | 274.8 |
Acquisition-related transaction and integration costs | 7.9 |  |  | — |  |  | — |  |  | — |  |  | 7.9 |
Operating profit | (1.3 | ) |  | 60.3 |  |  | 46.2 |  |  | 0.9 |  |  | 106.1 |
Other expenses: |  |  |  |  |  |  |  |  |
Interest expense – net | 0.7 |  |  | (0.1 | ) |  | 0.4 |  |  | — |  |  | 1.0 |
Acquisition-related interest expense | 1.4 |  |  | — |  |  | — |  |  | — |  |  | 1.4 |
Other expense – net | — |  |  | 0.1 |  |  | 1.2 |  |  | — |  |  | 1.3 |
| 2.1 |  |  | — |  |  | 1.6 |  |  | — |  |  | 3.7 |
Earnings before income taxes | (3.4 | ) |  | 60.3 |  |  | 44.6 |  |  | 0.9 |  |  | 102.4 |
Income taxes | 17.0 |  |  | — |  |  | 1.1 |  |  | — |  |  | 18.1 |
Earnings before equity in earnings (loss) of consolidated subsidiaries | (20.4 | ) |  | 60.3 |  |  | 43.5 |  |  | 0.9 |  |  | 84.3 |
Equity in earnings (loss) of consolidated subsidiaries | 104.8 |  |  | 39.7 |  |  | 59.9 |  |  | (204.4 | ) |  | — |
Net earnings | 84.4 |  |  | 100.0 |  |  | 103.4 |  |  | (203.5 | ) |  | 84.3 |
Net (earnings) loss attributable to non-controlling interests | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net earnings attributable to Wolverine World Wide, Inc. | $ | 84.4 |  |  | $ | 100.0 |  |  | $ | 103.5 |  |  | $ | (203.5 | ) |  | $ | 84.4 |
Comprehensive income | $ | 86.0 |  |  | $ | 100.0 |  |  | $ | 105.0 |  |  | $ | (205.1 | ) |  | $ | 85.9 |
Comprehensive (income) loss attributable to non-controlling interest | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Comprehensive income attributable to Wolverine World Wide, Inc. | $ | 86.0 |  |  | $ | 100.0 |  |  | $ | 105.1 |  |  | $ | (205.1 | ) |  | $ | 86.0 |
Consolidated Condensed Balance Sheets | WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets As of September 7, 2013 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | (3.4 | ) |  | $ | 13.1 |  |  | $ | 138.1 |  |  | $ | — |  |  | $ | 147.8 |
Accounts receivable, net | 101.8 |  |  | 226.6 |  |  | 147.0 |  |  | 3.5 |  |  | 478.9 |
Inventories: |  |  |  |  |  |  |  |  |
Finished products | 64.7 |  |  | 279.3 |  |  | 90.3 |  |  | (1.4 | ) |  | 432.9 |
Raw materials and work-in-process | 0.8 |  |  | 0.6 |  |  | 28.3 |  |  | — |  |  | 29.7 |
| 65.5 |  |  | 279.9 |  |  | 118.6 |  |  | (1.4 | ) |  | 462.6 |
Deferred income taxes | 9.4 |  |  | 16.9 |  |  | 0.4 |  |  | — |  |  | 26.7 |
Prepaid expenses and other current assets | 17.6 |  |  | 3.8 |  |  | 12.1 |  |  | 0.6 |  |  | 34.1 |
Total current assets | 190.9 |  |  | 540.3 |  |  | 416.2 |  |  | 2.7 |  |  | 1,150.1 |
Property, plant and equipment: |  |  |  |  |  |  |  |  |
Gross cost | 220.5 |  |  | 136.5 |  |  | 54.2 |  |  | — |  |  | 411.2 |
Accumulated depreciation | (170.2 | ) |  | (49.0 | ) |  | (36.7 | ) |  | — |  |  | (255.9 | )
| 50.3 |  |  | 87.5 |  |  | 17.5 |  |  | — |  |  | 155.3 |
Other assets: |  |  |  |  |  |  |  |  |
Goodwill and indefinite-lived intangibles | 11.7 |  |  | 1,032.0 |  |  | 94.8 |  |  | — |  |  | 1,138.5 |
Amortizable intangibles, net | 0.4 |  |  | 129.9 |  |  | 0.2 |  |  | — |  |  | 130.5 |
Deferred income taxes | 0.2 |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.4 |
Deferred financing costs, net | 34.3 |  |  | — |  |  | — |  |  | — |  |  | 34.3 |
Other | 45.4 |  |  | 9.4 |  |  | 4.0 |  |  | 2.3 |  |  | 61.1 |
Intercompany accounts receivable | — |  |  | 1,209.2 |  |  | 132.8 |  |  | (1,342.0 | ) |  | — |
Investment in affiliates | 2,752.3 |  |  | 510.2 |  |  | 384.7 |  |  | (3,647.2 | ) |  | — |
| 2,844.3 |  |  | 2,890.7 |  |  | 616.7 |  |  | (4,986.9 | ) |  | 1,364.8 |
Total assets | $ | 3,085.5 |  |  | $ | 3,518.5 |  |  | $ | 1,050.4 |  |  | $ | (4,984.2 | ) |  | $ | 2,670.2 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets - continued As of September 7, 2013 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 44.5 |  |  | $ | 86.7 |  |  | $ | 48.1 |  |  | $ | 3.5 |  |  | $ | 182.8 |
Accrued salaries and wages | 22.0 |  |  | 11.2 |  |  | 7.6 |  |  | — |  |  | 40.8 |
Other accrued liabilities | 59.9 |  |  | 8.5 |  |  | 41.4 |  |  | 1.5 |  |  | 111.3 |
Current maturities of long-term debt | 40.2 |  |  | — |  |  | — |  |  | — |  |  | 40.2 |
Total current liabilities | 166.6 |  |  | 106.4 |  |  | 97.1 |  |  | 5.0 |  |  | 375.1 |
Long-term debt, less current maturities | 1,101.9 |  |  | — |  |  | — |  |  | — |  |  | 1,101.9 |
Accrued pension liabilities | 131.8 |  |  | 35.6 |  |  | — |  |  | — |  |  | 167.4 |
Deferred income taxes | (49.7 | ) |  | 284.1 |  |  | 1.7 |  |  | — |  |  | 236.1 |
Intercompany accounts payable | 958.9 |  |  | 24.8 |  |  | 358.3 |  |  | (1,342.0 | ) |  | — |
Other liabilities | 9.5 |  |  | 9.2 |  |  | 3.0 |  |  | — |  |  | 21.7 |
Stockholders’ equity |  |  |  |  |  |  |
Wolverine World Wide, Inc. stockholders’ equity | 766.5 |  |  | 3,058.4 |  |  | 588.8 |  |  | (3,647.2 | ) |  | 766.5 |
Non-controlling interest | — |  |  | — |  |  | 1.5 |  |  | — |  |  | 1.5 |
Total stockholders’ equity | 766.5 |  |  | 3,058.4 |  |  | 590.3 |  |  | (3,647.2 | ) |  | 768.0 |
Total liabilities and stockholders’ equity | $ | 3,085.5 |  |  | $ | 3,518.5 |  |  | $ | 1,050.4 |  |  | $ | (4,984.2 | ) |  | $ | 2,670.2 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets As of September 8, 2012 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 5.6 |  |  | $ | (5.5 | ) |  | $ | 144.2 |  |  | $ | — |  |  | $ | 144.3 |
Accounts receivable, net | 102.8 |  |  | 77.8 |  |  | 99.9 |  |  | — |  |  | 280.5 |
Inventories: |  |  |  |  |  |  |  |  |
Finished products | 77.7 |  |  | 78.9 |  |  | 84.9 |  |  | — |  |  | 241.5 |
Raw materials and work-in-process | 1.8 |  |  | 0.3 |  |  | 26.1 |  |  | — |  |  | 28.2 |
| 79.5 |  |  | 79.2 |  |  | 111.0 |  |  | — |  |  | 269.7 |
Deferred income taxes | 14.4 |  |  | — |  |  | (0.1 | ) |  | — |  |  | 14.3 |
Prepaid expenses and other current assets | 8.2 |  |  | 2.6 |  |  | 7.8 |  |  | — |  |  | 18.6 |
Total current assets | 210.5 |  |  | 154.1 |  |  | 362.8 |  |  | — |  |  | 727.4 |
Property, plant and equipment: |  |  |  |  |  |  |  |  |
Gross cost | 209.4 |  |  | 46.1 |  |  | 45.4 |  |  | — |  |  | 300.9 |
Accumulated depreciation | (162.5 | ) |  | (30.8 | ) |  | (31.7 | ) |  | — |  |  | (225.0 | )
| 46.9 |  |  | 15.3 |  |  | 13.7 |  |  | — |  |  | 75.9 |
Other assets: |  |  |  |  |  |  |  |  |
Goodwill and indefinite-lived intangibles | 11.3 |  |  | 14.2 |  |  | 32.0 |  |  | — |  |  | 57.5 |
Amortizable intangibles, net | 0.3 |  |  | 0.3 |  |  | 0.2 |  |  | — |  |  | 0.8 |
Deferred income taxes | 45.2 |  |  | — |  |  | (2.1 | ) |  | — |  |  | 43.1 |
Deferred financing costs, net | 0.4 |  |  | — |  |  | — |  |  | — |  |  | 0.4 |
Other | 39.4 |  |  | — |  |  | 3.5 |  |  | — |  |  | 42.9 |
Intercompany accounts receivable | 229.6 |  |  | 432.1 |  |  | 125.6 |  |  | (787.3 | ) |  | — |
Investment in affiliates | 749.2 |  |  | 203.5 |  |  | 382.4 |  |  | (1,335.1 | ) |  | — |
| 1,075.4 |  |  | 650.1 |  |  | 541.6 |  |  | (2,122.4 | ) |  | 144.7 |
Total assets | $ | 1,332.8 |  |  | $ | 819.5 |  |  | $ | 918.1 |  |  | $ | (2,122.4 | ) |  | $ | 948.0 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets - continued As of September 8, 2012 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | 22.9 |  |  | $ | 10.7 |  |  | $ | 25.9 |  |  | $ | — |  |  | $ | 59.5 |
Accrued salaries and wages | 10.8 |  |  | 1.6 |  |  | 4.7 |  |  | — |  |  | 17.1 |
Other accrued liabilities | 28.8 |  |  | 12.2 |  |  | 26.4 |  |  | — |  |  | 67.4 |
Borrowings under revolving credit agreement | 27.0 |  |  | — |  |  | — |  |  | — |  |  | 27.0 |
Total current liabilities | 89.5 |  |  | 24.5 |  |  | 57.0 |  |  | — |  |  | 171.0 |
Long-term debt, less current maturities | — |  |  | — |  |  | — |  |  | — |  |  | — |
Accrued pension liabilities | 95.3 |  |  | — |  |  | — |  |  | — |  |  | 95.3 |
Intercompany accounts payable | 473.0 |  |  | 5.9 |  |  | 308.4 |  |  | (787.3 | ) |  | — |
Other liabilities | 8.4 |  |  | 1.2 |  |  | 4.4 |  |  | — |  |  | 14.0 |
Stockholders’ equity |  |  |  |  |  |  |  |  |
Wolverine World Wide, Inc. stockholders’ equity | 666.6 |  |  | 787.9 |  |  | 547.2 |  |  | (1,335.1 | ) |  | 666.6 |
Non-controlling interest | — |  |  | — |  |  | 1.1 |  |  | — |  |  | 1.1 |
Total stockholders’ equity | 666.6 |  |  | 787.9 |  |  | 548.3 |  |  | (1,335.1 | ) |  | 667.7 |
Total liabilities and stockholders’ equity | $ | 1,332.8 |  |  | $ | 819.5 |  |  | $ | 918.1 |  |  | $ | (2,122.4 | ) |  | $ | 948.0 |
Consolidated Condensed Statements of Cash Flow | WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flow For the 36 weeks ended September 7, 2013 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 103.2 |  |  | $ | (17.2 | ) |  | $ | 39.4 |  |  | $ | — |  |  | $ | 125.4 |
Investing activities |  |  |  |  |  |  |  |  |
Additions to property, plant and equipment | (9.1 | ) |  | (18.2 | ) |  | (1.9 | ) |  | — |  |  | (29.2 | )
Proceeds from sale of property, plant and equipment | — |  |  | — |  |  | 2.8 |  |  | — |  |  | 2.8 |
Investment in joint venture | — |  |  | — |  |  | (1.6 | ) |  | — |  |  | (1.6 | )
Other | (1.8 | ) |  | — |  |  | — |  |  | — |  |  | (1.8 | )
Net cash provided by (used in) investing activities | (10.9 | ) |  | (18.2 | ) |  | (0.7 | ) |  | — |  |  | (29.8 | )
Financing activities |  |  |  |  |  |  |  |  |
Payments of long-term debt | (107.9 | ) |  | — |  |  | — |  |  | — |  |  | (107.9 | )
Cash dividends paid | (17.7 | ) |  | — |  |  | — |  |  | — |  |  | (17.7 | )
Surrender of common stock for treasury | (0.6 | ) |  | — |  |  | — |  |  | — |  |  | (0.6 | )
Proceeds from shares issued under stock incentive plans | 7.2 |  |  | — |  |  | — |  |  | — |  |  | 7.2 |
Excess tax benefits from stock-based compensation | 2.0 |  |  | — |  |  | — |  |  | — |  |  | 2.0 |
Net cash provided by (used in) financing activities | (117.0 | ) |  | — |  |  | — |  |  | — |  |  | (117.0 | )
Effect of foreign exchange rate changes | — |  |  | — |  |  | (2.2 | ) |  | — |  |  | (2.2 | )
Increase (decrease) in cash and cash equivalents | (24.7 | ) |  | (35.4 | ) |  | 36.5 |  |  | — |  |  | (23.6 | )
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 | $ | (3.4 | ) |  | $ | 13.1 |  |  | $ | 138.1 |  |  | $ | — |  |  | $ | 147.8 |
WOLVERINE WORLD WIDE, INC. AND SUBSIDIARIES Consolidated Condensed Statements of Cash Flow For the 36 weeks ended September 8, 2012 (Unaudited)
(In millions) | Parent |  | Subsidiary Guarantors |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used in) operating activities | $ | 3.1 |  |  | $ | (6.4 | ) |  | $ | 11.9 |  |  | $ | — |  |  | $ | 8.6 |
Investing activities |  |  |  |  |  |  |  |  |
Additions to property, plant and equipment | (5.4 | ) |  | (1.9 | ) |  | (1.0 | ) |  | — |  |  | (8.3 | )
Investment in joint venture | — |  |  | — |  |  | (2.5 | ) |  | — |  |  | (2.5 | )
Other | 0.9 |  |  | (0.2 | ) |  | (2.5 | ) |  | — |  |  | (1.8 | )
Net cash provided by (used in) investing activities | (4.5 | ) |  | (2.1 | ) |  | (6.0 | ) |  | — |  |  | (12.6 | )
Financing activities |  |  |  |  |  |  |  |  |
Net borrowings under revolver | 16.0 |  |  | — |  |  | — |  |  | — |  |  | 16.0 |
Payments of long-term debt | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Cash dividends paid | (17.6 | ) |  | — |  |  | — |  |  | — |  |  | (17.6 | )
Purchase of common stock for treasury | (2.4 | ) |  | — |  |  | — |  |  | — |  |  | (2.4 | )
Surrender of common stock for treasury | (5.7 | ) |  | — |  |  | — |  |  | — |  |  | (5.7 | )
Proceeds from shares issued under stock incentive plans | 9.1 |  |  | — |  |  | — |  |  | — |  |  | 9.1 |
Excess tax benefits from stock-based compensation | 6.1 |  |  | — |  |  | — |  |  | — |  |  | 6.1 |
Contributions from non-controlling interests | — |  |  | — |  |  | 1.2 |  |  | — |  |  | 1.2 |
Net cash provided by (used in) financing activities | 5.5 |  |  | — |  |  | 0.7 |  |  | — |  |  | 6.2 |
Effect of foreign exchange rate changes | — |  |  | — |  |  | 2.1 |  |  | — |  |  | 2.1 |
Increase (decrease) in cash and cash equivalents | 4.1 |  |  | (8.5 | ) |  | 8.7 |  |  | — |  |  | 4.3 |
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 | $ | 5.6 |  |  | $ | (5.5 | ) |  | $ | 144.2 |  |  | $ | — |  |  | $ | 144.3 |

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