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Basis of Presentation and Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 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 |  | $ | 1,879.3 |  |  | $ | 100.3 |  |  | $ | 1,979.6 |
Prepaid expenses and other |  |  | 327.6 |  |  |  | 14.6 |  |  |  | 342.2 |
Current assets held for sale |  |  | 6,894.6 |  |  |  | 21.3 |  |  |  | 6,915.9 |
Noncurrent assets held for sale |  |  | 3,312.6 |  |  |  | 33.8 |  |  |  | 3,346.4 |
Other accrued liabilities |  |  | 1,267.1 |  |  |  | 114.9 |  |  |  | 1,382.0 |
Current liabilities held for sale |  |  | 1,339.4 |  |  |  | 21.3 |  |  |  | 1,360.7 |
Noncurrent liabilities held for sale |  |  | 12.8 |  |  |  | 33.8 |  |  |  | 46.6 |
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 its 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):
|  | June 30, 2018 |
|  | As Reported |  |  | Excluding Adjustments due to Topic 606 |  |  | As Adjusted |
Accounts receivable, net |  | $ | 1,928.7 |  |  | $ | (100.8 | ) |  | $ | 1,827.9 |
Inventory, net |  |  | 1,860.3 |  |  |  | 0.5 |  |  |  | 1,860.8 |
Prepaid expenses and other |  |  | 310.7 |  |  |  | (13.7 | ) |  |  | 297.0 |
Current assets held for sale |  |  | 7,368.3 |  |  |  | (46.4 | ) |  |  | 7,321.9 |
Other accrued liabilities |  |  | 1,101.1 |  |  |  | (113.6 | ) |  |  | 987.5 |
Current liabilities held for sale |  |  | 920.4 |  |  |  | (46.4 | ) |  |  | 874.0 |
Retained earnings |  |  | 4,624.5 |  |  |  | (0.4 | ) |  |  | 4,624.1 |
|  | Three Months Ended June 30, 2018 |
|  | As Reported |  |  | Excluding Adjustments due to Topic 606 |  |  | As Adjusted |
Net sales |  | $ | 2,203.1 |  |  | $ | 51.0 |  |  | $ | 2,254.1 |
Cost of products sold |  |  | 1,428.0 |  |  |  | 49.7 |  |  |  | 1,477.7 |
Selling, general and administrative expenses |  |  | 613.6 |  |  |  | 2.7 |  |  |  | 616.3 |
Operating income (loss) |  |  | 84.2 |  |  |  | (1.4 | ) |  |  | 82.8 |
Income tax expense |  |  | 53.0 |  |  |  | 0.2 |  |  |  | 53.2 |
Loss from continuing operations |  |  | (76.1 | ) |  |  | (1.6 | ) |  |  | (77.7 | )
Income from discontinued operations, net of tax |  |  | 207.8 |  |  |  | — |  |  |  | 207.8 |
Net income (loss) |  |  | 131.7 |  |  |  | (1.6 | ) |  |  | 130.1 |
|  | Six Months Ended June 30, 2018 |
|  | As Reported |  |  | Excluding Adjustments due to Topic 606 |  |  | As Adjusted |
Net sales |  | $ | 4,015.9 |  |  | $ | 94.4 |  |  | $ | 4,110.3 |
Cost of products sold |  |  | 2,635.2 |  |  |  | 90.5 |  |  |  | 2,725.7 |
Selling, general and administrative expenses |  |  | 1,239.9 |  |  |  | 4.5 |  |  |  | 1,244.4 |
Operating income (loss) |  |  | 58.1 |  |  |  | (0.6 | ) |  |  | 57.5 |
Income tax benefit |  |  | (33.4 | ) |  |  | (0.2 | ) |  |  | (33.6 | )
Loss from continuing operations |  |  | (130.5 | ) |  |  | (0.4 | ) |  |  | (130.9 | )
Income from discontinued operations, net of tax |  |  | 315.5 |  |  |  | (1.8 | ) |  |  | 313.7 |
Net income (loss) |  |  | 185.0 |  |  |  | (2.2 | ) |  |  | 182.8 |

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