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v3.19.3.a.u2

Description of Business and Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of Impact of Adoption of Topic 842 on Condensed Consolidated Statement of Operations and Condensed Consolidated Balance Sheet | The following table presents the effect to the Company’s previously reported Consolidated Balance Sheet at December 31, 2018 and Consolidated Statement of Operations for the year ended December 31, 2018:
| At December 31, 2018
| As Previously Reported |  | Revision |  | As Revised |  | Reclassification |  | As Reclassified
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 495.7 |  |  | $ | — |  |  | $ | 495.7 |  |  | $ | — |  |  | $ | 495.7 |
Accounts receivable, net | 1,850.7 |  |  | — |  |  | 1,850.7 |  |  | 312.8 |  |  | 2,163.5 |
Inventories | 1,583.1 |  |  | — |  |  | 1,583.1 |  |  | 177.6 |  |  | 1,760.7 |
Prepaid expenses and other current assets | 278.0 |  |  | (2.4 | ) |  | 275.6 |  |  | 19.2 |  |  | 294.8 |
Current assets held for sale | 3,541.3 |  |  | (6.1 | ) |  | 3,535.2 |  |  | (2,291.4 | ) |  | 1,243.8 |
Total current assets | 7,748.8 |  |  | (8.5 | ) |  | 7,740.3 |  |  | (1,781.8 | ) |  | 5,958.5 |
Property, plant and equipment, net | 925.6 |  |  | — |  |  | 925.6 |  |  | 300.5 |  |  | 1,226.1 |
Goodwill | 2,970.2 |  |  | — |  |  | 2,970.2 |  |  | 903.7 |  |  | 3,873.9 |
Other intangible assets, net | 5,579.6 |  |  | — |  |  | 5,579.6 |  |  | 571.0 |  |  | 6,150.6 |
Deferred income taxes | 165.2 |  |  | 14.5 |  |  | 179.7 |  |  | 3.6 |  |  | 183.3 |
Other assets | 327.0 |  |  | — |  |  | 327.0 |  |  | 3.0 |  |  | 330.0 |
Total assets | $ | 17,716.4 |  |  | $ | 6.0 |  |  | $ | 17,722.4 |  |  | $ | — |  |  | $ | 17,722.4 |
Liabilities and Stockholders' Equity: |  |  |  |  |  |  |  |  |
Accounts payable | 1,019.5 |  |  | — |  |  | 1,019.5 |  |  | 172.1 |  |  | 1,191.6 |
Accrued compensation | 159.1 |  |  | — |  |  | 159.1 |  |  | 33.8 |  |  | 192.9 |
Other accrued liabilities | 1,182.3 |  |  | (0.8 | ) |  | 1,181.5 |  |  | 126.4 |  |  | 1,307.9 |
Short-term debt and current portion of long-term debt | 318.7 |  |  | — |  |  | 318.7 |  |  | — |  |  | 318.7 |
Current liabilities held for sale | 650.4 |  |  | 100.4 |  |  | 750.8 |  |  | (458.4 | ) |  | 292.4 |
Total current liabilities | 3,330.0 |  |  | 99.6 |  |  | 3,429.6 |  |  | (126.1 | ) |  | 3,303.5 |
Long-term debt | 6,696.3 |  |  | — |  |  | 6,696.3 |  |  | — |  |  | 6,696.3 |
Deferred income taxes | 1,041.8 |  |  | (66.7 | ) |  | 975.1 |  |  | 114.9 |  |  | 1,090.0 |
Other noncurrent liabilities | 1,370.5 |  |  | (2.3 | ) |  | 1,368.2 |  |  | 11.2 |  |  | 1,379.4 |
Total liabilities | 12,438.6 |  |  | 30.6 |  |  | 12,469.2 |  |  | — |  |  | 12,469.2 |
Total stockholders' equity | 5,277.8 |  |  | (24.6 | ) |  | 5,253.2 |  |  | — |  |  | 5,253.2 |
Total liabilities and stockholders' equity | $ | 17,716.4 |  |  | $ | 6.0 |  |  | $ | 17,722.4 |  |  | $ | — |  |  | $ | 17,722.4 |
| For the year ended December 31, 2018
| As Previously Reported |  | Revision |  | As Revised |  | Reclassification |  | As Reclassified
Net sales | $ | 8,630.9 |  |  | $ | — |  |  | $ | 8,630.9 |  |  | $ | 1,523.1 |  |  | $ | 10,154.0 |
Cost of products sold | 5,622.1 |  |  | — |  |  | 5,622.1 |  |  | 1,014.2 |  |  | 6,636.3 |
Gross profit | 3,008.8 |  |  | — |  |  | 3,008.8 |  |  | 508.9 |  |  | 3,517.7 |
Selling, general and administrative expenses | 2,434.8 |  |  | — |  |  | 2,434.8 |  |  | 213.0 |  |  | 2,647.8 |
Restructuring costs, net | 80.5 |  |  | — |  |  | 80.5 |  |  | 6.3 |  |  | 86.8 |
Impairment of goodwill, intangibles and other assets | 8,322.0 |  |  | — |  |  | 8,322.0 |  |  | 15.1 |  |  | 8,337.1 |
Operating income (loss) | (7,828.5 | ) |  | — |  |  | (7,828.5 | ) |  | 274.5 |  |  | (7,554.0 | )
Non-operating expenses: |  |  |  |  |  |  |  |  |
Interest expense, net | 446.3 |  |  | — |  |  | 446.3 |  |  | (0.1 | ) |  | 446.2 |
Loss on extinguishment of debt | 4.1 |  |  | — |  |  | 4.1 |  |  | — |  |  | 4.1 |
Other (income) expense, net | (11.2 | ) |  | — |  |  | (11.2 | ) |  | (1.4 | ) |  | (12.6 | )
Income (loss) before income taxes | (8,267.7 | ) |  | — |  |  | (8,267.7 | ) |  | 276.0 |  |  | (7,991.7 | )
Income tax expense (benefit) | (1,478.1 | ) |  | — |  |  | (1,478.1 | ) |  | 119.2 |  |  | (1,358.9 | )
Income (loss) from continuing operations | (6,789.6 | ) |  | — |  |  | (6,789.6 | ) |  | 156.8 |  |  | (6,632.8 | )
Loss from discontinued operations, net of tax | (128.3 | ) |  | (24.6 | ) |  | (152.9 | ) |  | (156.8 | ) |  | (309.7 | )
Net loss | $ | (6,917.9 | ) |  | $ | (24.6 | ) |  | $ | (6,942.5 | ) |  | $ | — |  |  | $ | (6,942.5 | )
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |
Basic | 473.7 |  | 473.7 |  | 473.7 |  | 473.7 |  | 473.7
Diluted | 473.7 |  | 473.7 |  | 473.7 |  | 473.7 |  | 473.7
Loss per share: |  |  |  |  |  |  |  |  |
Basic: |  |  |  |  |  |  |  |  |
Loss from continuing operations | $ | (14.33 | ) |  | $ | — |  |  | $ | (14.33 | ) |  | $ | 0.33 |  |  | $ | (14.00 | )
Loss from discontinued operations | (0.27 | ) |  | (0.05 | ) |  | (0.32 | ) |  | (0.33 | ) |  | (0.65 | )
Net loss | $ | (14.60 | ) |  | $ | (0.05 | ) |  | $ | (14.65 | ) |  | $ | — |  |  | $ | (14.65 | )
Diluted: |  |  |  |  |  |  |  |  |
Loss from continuing operations | $ | (14.33 | ) |  | $ | — |  |  | $ | (14.33 | ) |  | $ | 0.33 |  |  | $ | (14.00 | )
Loss from discontinued operations | (0.27 | ) |  | (0.05 | ) |  | (0.32 | ) |  | (0.33 | ) |  | (0.65 | )
Net loss | $ | (14.60 | ) |  | $ | (0.05 | ) |  | $ | (14.65 | ) |  | $ | — |  |  | $ | (14.65 | )

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