XML 39 R27.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Basis of Presentation and Significant Accounting Policies (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2018
Accounting Standards Update 2014-09 [Member] |
Summary of Impact of Adoption of Topic 606 on Condensed Consolidated Statement of Operations and Condensed Consolidated Balance Sheet | The cumulative effect of the changes made to the condensed consolidated balance sheet at January 1, 2018 from the adoption of Topic 606 were as follows (in millions):
|  | Balance at December 31, 2017 |  |  | Adjustments due to Topic 606 |  |  | Balance at January 1, 2018 |
Accounts receivable, net |  | $ | 2,674.0 |  |  | $ | 153.6 |  |  | $ | 2,827.6 |
Prepaid expenses and other |  |  | 415.5 |  |  |  | 16.4 |  |  |  | 431.9 |
Other accrued liabilities |  |  | 1,705.4 |  |  |  | 170.0 |  |  |  | 1,875.4 |
Retained earnings |  |  | 4,611.2 |  |  |  | — |  |  |  | 4,611.2 |
As part of Topic 606, the Company reclassified items such as cash discounts, allowances for returns, and credits or incentives provided to customers from accounts receivable, net to other accrued liabilities as of the adoption date. These items are accounted for as variable consideration when estimating the amount of revenue to recognize. Also as part of the new standard, the Company recognizes right to recover assets associated with our estimated allowances for returns in prepaid expenses and other, which were previously netted against the allowance for returns included in Accounts Receivable, net. The impact of adoption of Topic 606 on the condensed consolidated balance sheet and condensed consolidated statement of operations as of and for the period indicated was as follows (in millions):
|  | March 31, 2018 |
|  | As Reported |  |  | Excluding Adjustments due to Topic 606 |  |  | As Adjusted |
Accounts receivable, net |  | $ | 2,346.0 |  |  | $ | (155.7 | ) |  | $ | 2,190.3 |
Inventory, net |  |  | 2,584.9 |  |  |  | 1.5 |  |  |  | 2,586.4 |
Prepaid expenses and other |  |  | 427.3 |  |  |  | (17.4 | ) |  |  | 409.9 |
Assets held for sale |  |  | 2,654.1 |  |  |  | (2.5 | ) |  |  | 2,651.6 |
Other accrued liabilities |  |  | 1,617.3 |  |  |  | (170.7 | ) |  |  | 1,446.6 |
Retained earnings |  |  | 4,542.5 |  |  |  | (3.4 | ) |  |  | 4,539.1 |
|  | Three Months Ended March 31, 2018 |
|  | As Reported |  |  | Excluding Adjustments due to Topic 606 |  |  | As Adjusted |
Net sales |  | $ | 3,017.4 |  |  | $ | 46.2 |  |  | $ | 3,063.6 |
Cost of products sold |  |  | 2,012.0 |  |  |  | 48.3 |  |  |  | 2,060.3 |
Selling, general and administrative expenses |  |  | 880.4 |  |  |  | 2.5 |  |  |  | 882.9 |
Operating income |  |  | 117.1 |  |  |  | (4.6 | ) |  |  | 112.5 |
Income tax (benefit) expense |  |  | (51.3 | ) |  |  | (1.2 | ) |  |  | (52.5 | )
Net income |  |  | 53.3 |  |  |  | (3.4 | ) |  |  | 49.9 |

X
- Definition Tabular disclosure of the comparison between amounts disclosed under previous guidance and new guidance. + References No definition available. + Details
Name: | us-gaap_ScheduleOfProspectiveAdoptionOfNewAccountingPronouncementsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AdjustmentsForNewAccountingPronouncementsAxis=us-gaap_AccountingStandardsUpdate201409Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |