Guarantor Statements - SB/RH (Tables)

12 Months Ended

Sep. 30, 2018

Guarantor Statements - SB/RH [Abstract]



Statement of Financial Position			Guarantor		Nonguarantor
As of September 30, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Assets
Cash and cash equivalents	$	276.6	$	1.8	$	227.0	$	—	$	505.4
Trade receivables, net		88.5		84.0		81.7		—		254.2
Intercompany receivables		—		1,648.3		283.0		(1,931.3)		—
Other receivables		58.6		5.2		15.4		—		79.2
Inventories		163.2		223.5		134.4		(17.7)		503.4
Prepaid expenses and other		32.5		6.2		15.7		—		54.4
Current assets of business held for sale		1,069.8		83.3		809.4		(4.3)		1,958.2
Total current assets		1,689.2		2,052.3		1,566.6		(1,953.3)		3,354.8
Property, plant and equipment, net		172.1		177.2		145.6		—		494.9
Long-term intercompany receivables		321.3		70.3		11.6		(403.2)		—
Deferred charges and other		191.3		2.3		63.1		(186.3)		70.4
Goodwill		567.2		1,372.3		239.0		—		2,178.5
Intangible assets, net		390.0		970.9		170.7		—		1,531.6
Investments in subsidiaries		4,900.7		1,262.5		(2.9)		(6,160.3)		—
Total assets	$	8,231.8	$	5,907.8	$	2,193.7	$	(8,703.1)	$	7,630.2
Liabilities and Shareholder's Equity
Current portion of long-term debt	$	534.8	$	4.4	$	2.2	$	(0.2)	$	541.2
Accounts payable		124.7		167.2		144.2		—		436.1
Intercompany accounts payable		1,878.0		—		35.0		(1,913.0)		—
Accrued wages and salaries		25.4		2.2		18.3		—		45.9
Accrued interest		55.0		—		—		—		55.0
Other current liabilities		43.9		24.2		50.2		—		118.3
Current liabilities of business held for sale		197.9		1.4		457.6		—		656.9
Total current liabilities		2,859.7		199.4		707.5		(1,913.2)		1,853.4
Long-term debt, net of current portion		3,613.4		88.2		11.8		—		3,713.4
Long-term intercompany debt		11.6		295.0		114.7		(421.3)		—
Deferred income taxes		52.1		418.9		51.7		(191.6)		331.1
Other long-term liabilities		69.6		5.6		45.4		—		120.6
Total liabilities		6,606.4		1,007.1		931.1		(2,526.1)		6,018.5
Shareholder's equity:
Other capital		2,096.7		803.7		(1,361.8)		534.4		2,073.0
Accumulated (deficit) earnings		(235.6)		4,303.0		2,814.5		(7,117.4)		(235.5)
Accumulated other comprehensive loss		(235.7)		(206.0)		(200.0)		406.0		(235.7)
Total shareholder's equity		1,625.4		4,900.7		1,252.7		(6,177.0)		1,601.8
Non-controlling interest		—		—		9.9		—		9.9
Total equity		1,625.4		4,900.7		1,262.6		(6,177.0)		1,611.7
Total liabilities and equity	$	8,231.8	$	5,907.8	$	2,193.7	$	(8,703.1)	$	7,630.2



Statement of Financial Position			Guarantor		Nonguarantor
As of September 30, 2017 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Assets
Cash and cash equivalents	$	6.0	$	4.8	$	157.4	$	—	$	168.2
Trade receivables, net		85.4		102.4		78.2		—		266.0
Intercompany receivables		0.7		1,288.1		335.4		(1,624.2)		—
Other receivables		4.4		4.7		10.6		(1.0)		18.7
Inventories		184.7		205.6		126.4		(20.4)		496.3
Prepaid expenses and other		30.9		8.6		14.6		0.1		54.2
Current assets of business held for sale		228.7		0.2		378.4		(4.3)		603.0
Total current assets		540.8		1,614.4		1,101.0		(1,649.8)		1,606.4
Property, plant and equipment, net		182.2		178.9		142.0		—		503.1
Long-term intercompany receivables		317.2		96.6		12.5		(426.3)		—
Deferred charges and other		244.2		3.0		35.6		(254.4)		28.4
Goodwill		568.6		1,463.4		245.1		—		2,277.1
Intangible assets, net		401.4		1,027.7		182.9		—		1,612.0
Investments in subsidiaries		4,730.1		1,290.3		—		(6,020.4)		—
Noncurrent assets of business held for sale		814.3		124.4		438.2		—		1,376.9
Total assets	$	7,798.8	$	5,798.7	$	2,157.3	$	(8,350.9)	$	7,403.9
Liabilities and Shareholder's Equity
Current portion of long-term debt	$	13.8	$	4.3	$	5.2	$	(3.9)	$	19.4
Accounts payable		122.2		108.3		141.1		—		371.6
Intercompany accounts payable		1,629.6		—		—		(1,629.6)		—
Accrued wages and salaries		27.5		2.3		20.1		—		49.9
Accrued interest		48.5		—		—		—		48.5
Other current liabilities		50.1		25.6		44.2		(1.0)		118.9
Current liabilities of business held for sale		177.3		0.9		322.4		—		500.6
Total current liabilities		2,069.0		141.4		533.0		(1,634.5)		1,108.9
Long-term debt, net of current portion		3,650.8		92.1		9.4		—		3,752.3
Long-term intercompany debt		12.6		302.1		102.4		(417.1)		—
Deferred income taxes		177.9		523.5		52.0		(260.2)		493.2
Other long-term liabilities		11.5		6.1		40.4		—		58.0
Noncurrent liabilities of business held for sale		22.8		3.4		129.9		—		156.1
Total liabilities		5,944.6		1,068.6		867.1		(2,311.8)		5,568.5
Shareholder's equity:
Other capital		2,107.1		1,089.9		(1,075.0)		(43.0)		2,079.0
Accumulated (deficit) earnings		(42.8)		3,814.1		2,521.6		(6,335.7)		(42.8)
Accumulated other comprehensive loss		(210.1)		(173.9)		(165.2)		339.6		(209.6)
Total shareholder's equity		1,854.2		4,730.1		1,281.4		(6,039.1)		1,826.6
Non-controlling interest		—		—		8.8		—		8.8
Total equity		1,854.2		4,730.1		1,290.2		(6,039.1)		1,835.4
Total liabilities and equity	$	7,798.8	$	5,798.7	$	2,157.3	$	(8,350.9)	$	7,403.9

Statement Of Income


Statement of Income			Guarantor		Nonguarantor
Year Ended September 30, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	1,389.2	$	2,448.0	$	1,192.7	$	(1,884.0)	$	3,145.9
Cost of goods sold		1,022.5		1,912.6		930.6		(1,886.2)		1,979.5
Restructuring and related charges		—		9.3		3.5		—		12.8
Gross profit		366.7		526.1		258.6		2.2		1,153.6
Selling		179.2		177.7		135.9		(0.5)		492.3
General and administrative		110.6		105.8		29.8		(0.3)		245.9
Research and development		7.5		12.0		8.8		—		28.3
Acquisition and integration related charges		6.2		4.3		3.8		—		14.3
Restructuring and related charges		59.3		10.8		9.9		—		80.0
Impairment of goodwill		—		92.5		—		—		92.5
Impairment of intangible assets		—		20.3		—		—		20.3
Total operating expense		362.8		423.4		188.2		(0.8)		973.6
Operating income		3.9		102.7		70.4		3.0		180.0
Interest expense		145.1		20.9		1.6		—		167.6
Other non-operating (income) expense, net		(215.5)		(35.9)		(0.8)		255.1		2.9
Income from operations before income taxes		74.3		117.7		69.6		(252.1)		9.5
Income tax (benefit) expense		(7.8)		(100.2)		32.7		0.5		(74.8)
Net income from continuing operations		82.1		217.9		36.9		(252.6)		84.3
Income from discontinued operations, net of tax		98.7		117.0		120.3		(237.4)		98.6
Net income		180.8		334.9		157.2		(490.0)		182.9
Net income attributable to non-controlling interest		—		—		1.4		—		1.4
Net income attributable to controlling interest	$	180.8	$	334.9	$	155.8	$	(490.0)	$	181.5


Statement of Income			Guarantor		Nonguarantor
Year Ended September 30, 2017 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	1,164.2	$	1,963.8	$	1,102.9	$	(1,221.4)	$	3,009.5
Cost of goods sold		782.5		1,393.0		854.5		(1,214.6)		1,815.4
Restructuring and related charges		—		18.1		—		—		18.1
Gross profit		381.7		552.7		248.4		(6.8)		1,176.0
Selling		169.4		175.8		130.1		(1.5)		473.8
General and administrative		167.4		83.1		13.6		0.1		264.2
Research and development		7.9		10.5		8.8		—		27.2
Acquisition and integration related charges		14.2		1.3		0.1		—		15.6
Restructuring and related charges		28.2		7.6		6.5		—		42.3
Write-off from impairment of intangible assets		—		16.3		—		—		16.3
Total operating expense		387.1		294.6		159.1		(1.4)		839.4
Operating income		(5.4)		258.1		89.3		(5.4)		336.6
Interest expense		137.9		18.7		4.7		—		161.3
Other non-operating (income) expense, net		(222.2)		(44.6)		(0.1)		271.8		4.9
Income from operations before income taxes		78.9		284.0		84.7		(277.2)		170.4
Income tax (benefit) expense		(54.8)		60.3		36.6		(0.8)		41.3
Net income from continuing operations		133.7		223.7		48.1		(276.4)		129.1
Income from discontinued operations, net of tax		173.8		140.8		147.7		(290.2)		172.1
Net income		307.5		364.5		195.8		(566.6)		301.2
Net income attributable to non-controlling interest		—		—		1.3		—		1.3
Net income attributable to controlling interest	$	307.5	$	364.5	$	194.5	$	(566.6)	$	299.9


Statement of Income			Guarantor		Nonguarantor
Year ended September 30, 2016 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	1,108.4	$	1,974.0	$	1,096.3	$	(1,149.3)	$	3,029.4
Cost of goods sold		740.2		1,371.1		828.5		(1,148.3)		1,791.5
Restructuring and related charges		—		—		0.2		—		0.2
Gross profit		368.2		602.9		267.6		(1.0)		1,237.7
Selling		163.2		180.1		134.8		(0.7)		477.4
General and administrative		147.0		95.6		16.8		(0.1)		259.3
Research and development		8.5		10.0		8.5		—		27.0
Acquisition and integration related charges		20.1		4.7		9.3		—		34.1
Restructuring and related charges		0.1		10.1		3.6		—		13.8
Write-off from impairment of intangible assets		—		2.7		—		—		2.7
Total operating expense		338.9		303.2		173.0		(0.8)		814.3
Operating income		29.3		299.7		94.6		(0.2)		423.4
Interest expense		151.1		19.9		11.0		—		182.0
Other non-operating (income) expense, net		(372.2)		(131.7)		5.0		503.6		4.7
Income from operations before income taxes		250.4		411.5		78.6		(503.8)		236.7
Income tax (benefit) expense		(23.0)		40.0		(53.4)		(2.6)		(39.0)
Net income from continuing operations		273.4		371.5		132.0		(501.2)		275.7
Income from discontinued operations, net of tax		76.7		62.4		66.0		(128.5)		76.6
Net income		350.1		433.9		198.0		(629.7)		352.3
Net income attributable to non-controlling interest		—		—		0.4		—		0.4
Net income attributable to controlling interest	$	350.1	$	433.9	$	197.6	$	(629.7)	$	351.9

Statement Of Comprehensive Income


Statement of Comprehensive Income			Guarantor		Nonguarantor
Year Ended September 30, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	180.8	$	334.9	$	157.2	$	(490.0)	$	182.9
Other comprehensive income (loss), net of tax:
Foreign currency translation loss		(44.3)		(43.6)		(46.2)		89.8		(44.3)
Unrealized gain on derivative instruments		16.2		13.3		13.3		(26.6)		16.2
Defined benefit pension gain (loss)		1.7		(2.6)		(2.6)		5.2		1.7
Other comprehensive loss		(26.4)		(32.9)		(35.5)		68.4		(26.4)
Comprehensive income		154.4		302.0		121.7		(421.6)		156.5
Comprehensive loss attributable to non-controlling interest		—		—		(0.3)		—		(0.3)
Comprehensive income attributable to controlling interest	$	154.4	$	302.0	$	122.0	$	(421.6)	$	156.8


Statement of Comprehensive Income			Guarantor		Nonguarantor
Year Ended September 30, 2017 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	307.5	$	364.5	$	195.8	$	(566.6)	$	301.2
Other comprehensive income (loss), net of tax:
Foreign currency translation gain		29.1		32.0		34.3		(66.3)		29.1
Unrealized loss on derivative instruments		(29.1)		(15.1)		(15.1)		30.2		(29.1)
Defined benefit pension gain		19.6		14.6		14.7		(29.3)		19.6
Other comprehensive gain		19.6		31.5		33.9		(65.4)		19.6
Comprehensive income		327.1		396.0		229.7		(632.0)		320.8
Comprehensive loss attributable to non-controlling interest		—		—		(0.2)		—		(0.2)
Comprehensive income attributable to controlling interest	$	327.1	$	396.0	$	229.9	$	(632.0)	$	321.0


Statement of Comprehensive Income			Guarantor		Nonguarantor
Year ended September 30, 2016 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	350.1	$	433.9	$	198.0	$	(629.7)	$	352.3
Other comprehensive income (loss), net of tax:
Foreign currency translation loss		(8.5)		(8.3)		(6.1)		14.4		(8.5)
Unrealized gain on derivative instruments		7.0		3.2		3.2		(6.3)		7.1
Defined benefit pension loss		(28.2)		(25.4)		(25.4)		50.8		(28.2)
Other comprehensive loss		(29.7)		(30.5)		(28.3)		58.9		(29.6)
Comprehensive income		320.4		403.4		169.7		(570.8)		322.7
Comprehensive loss attributable to non-controlling interest		—		—		(0.3)		—		(0.3)
Comprehensive income attributable to controlling interest	$	320.4	$	403.4	$	170.0	$	(570.8)	$	323.0

Statement Of Cash Flows



Statement of Cash Flows			Guarantor		Nonguarantor
Year Ended September 30, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net cash (used) provided by operating activities from continuing operations	$	(328.1)	$	49.0	$	800.0	$	(340.3)	$	180.6
Net cash provided by operating activities from discontinued operations		18.8		0.1		32.5		120.5		171.9
Net cash (used) provided by operating activities		(309.3)		49.1		832.5		(219.8)		352.5
Cash flows from investing activities		.
Purchases of property, plant and equipment		(22.8)		(18.5)		(23.4)		—		(64.7)
Proceeds from sales of property, plant and equipment		0.7		0.1		2.0		—		2.8
Other investing activity, net		—		(0.2)		(0.3)		—		(0.5)
Net cash used by investing activities from continuing operations		(22.1)		(18.6)		(21.7)		—		(62.4)
Net cash used by investing activities from discontinued operations		(18.8)		(0.1)		(17.9)		—		(36.8)
Net cash used by investing activities		(40.9)		(18.7)		(39.6)		—		(99.2)
Cash flows from financing activities
Proceeds from issuance of debt		520.0		—		19.6		—		539.6
Payment of debt		(52.3)		—		(7.2)		—		(59.5)
Payment of debt issuance costs		(0.4)		—		—		—		(0.4)
Payment of cash dividends to parent		(374.2)		—		—		—		(374.2)
Advances related to intercompany transactions		527.7		(33.4)		(714.1)		219.8		—
Net cash provided (used) by financing activities from continuing operations		620.8		(33.4)		(701.7)		219.8		105.5
Net cash used by financing activities from discontinued operations		—		—		(14.6)		—		(14.6)
Net cash provided (used) by financing activities		620.8		(33.4)		(716.3)		219.8		90.9
Effect of exchange rate changes on cash and cash equivalents		—		—		(7.0)		—		(7.0)
Net decrease in cash and cash equivalents		270.6		(3.0)		69.6		—		337.2
Cash and cash equivalents, beginning of period		6.0		4.8		157.4		—		168.2
Cash and cash equivalents, end of period	$	276.6	$	1.8	$	227.0	$	—	$	505.4


Statement of Cash Flows			Guarantor		Nonguarantor
Year Ended September 30, 2017 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net cash provided (used) by operating activities from continuing operations	$	625.0	$	164.5	$	(153.4)	$	(313.1)	$	323.0
Net cash provided by operating activities from discontinued operations		22.0		—		23.8		278.8		324.6
Net cash provided (used) by operating activities		647.0		164.5		(129.6)		(34.3)		647.6
Cash flows from investing activities
Purchases of property, plant and equipment		(26.4)		(25.4)		(26.0)		—		(77.8)
Proceeds from sales of property, plant and equipment		0.2		0.3		3.4		—		3.9
Business acquisitions, net cash acquired		(304.7)		—		—		—		(304.7)
Other investing activities		—		(1.2)		(0.3)		—		(1.5)
Net cash used by investing activities from continuing operations		(330.9)		(26.3)		(22.9)		—		(380.1)
Net cash used by investing activities from discontinued operations		(21.0)		—		(15.5)		—		(36.5)
Net cash used by investing activities		(351.9)		(26.3)		(38.4)		—		(416.6)
Cash flows from financing activities
Proceeds from issuance of debt		250.0		—		15.6		—		265.6
Payment of debt		(213.9)		—		(9.4)		—		(223.3)
Payment of debt issuance costs		(5.9)		—		—		—		(5.9)
Purchase of noncontrolling interest		(12.6)		—		—		—		(12.6)
Payment of cash dividends to parent		(350.8)		—		—		—		(350.8)
Advances related to intercompany transactions		(54.3)		(135.9)		155.9		34.3		—
Net cash (used) provided by financing activities from continuing operations		(387.5)		(135.9)		162.1		34.3		(327.0)
Net cash provided by financing activities from discontinued operations		(1.0)		—		(8.3)		—		(9.3)
Net cash (used) provided by financing activities		(388.5)		(135.9)		153.8		34.3		(336.3)
Effect of exchange rate changes on cash and cash equivalents due to Venezuela devaluation		—		—		(0.4)				(0.4)
Effect of exchange rate changes on cash and cash equivalents		—		—		3.1		—		3.1
Net decrease in cash and cash equivalents		(93.4)		2.3		(11.5)		—		(102.6)
Cash and cash equivalents, beginning of period		99.4		2.5		168.9		—		270.8
Cash and cash equivalents, end of period	$	6.0	$	4.8	$	157.4	$	—	$	168.2


Statement of Cash Flows			Guarantor		Nonguarantor
Year ended September 30, 2016 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net cash (used) provided by operating activities from continuing operations	$	(392.4)	$	412.7	$	(132.0)	$	560.0	$	448.3
Net cash provided (used) by operating activities from discontinued operations		21.7		—		16.8		114.8		153.3
Net cash (used) provided by operating activities		(370.7)		412.7		(115.2)		674.8		601.6
Cash flows from investing activities		.
Purchases of property, plant and equipment		(25.4)		(12.7)		(22.6)		—		(60.7)
Proceeds from sales of property, plant and equipment		0.1		—		0.8		—		0.9
Other investing activity, net		—		(3.2)		—		—		(3.2)
Net cash used by investing activities from continuing operations		(25.3)		(15.9)		(21.8)		—		(63.0)
Net cash used by investing activities from discontinued operations		(20.8)		—		(14.6)		—		(35.4)
Net cash used by investing activities		(46.1)		(15.9)		(36.4)		—		(98.4)
Cash flows from financing activities
Proceeds from issuance of debt		491.5		—		6.9		—		498.4
Payment of debt		(862.8)		—		(1.6)		—		(864.4)
Payment of debt issuance costs		(9.3)		—		—		—		(9.3)
Payment of cash dividends to parent		(97.2)		—		—		—		(97.2)
Payment of contingent consideration		(3.2)		—		—		—		(3.2)
Advances related to intercompany transactions		985.1		(402.9)		92.6		(674.8)		—
Net cash provided (used) by financing activities from continuing operations		504.1		(402.9)		97.9		(674.8)		(475.7)
Net cash used by financing activities from discontinued operations		(0.9)		—		(2.3)		—		(3.2)
Net cash provided (used) by financing activities		503.2		(402.9)		95.6		(674.8)		(478.9)
Effect of exchange rate changes on cash and cash equivalents		—		—		(1.4)		—		(1.4)
Net decrease in cash and cash equivalents		86.4		(6.1)		(57.4)		—		22.9
Cash and cash equivalents, beginning of period		13.0		8.6		226.3		—		247.9
Cash and cash equivalents, end of period	$	99.4	$	2.5	$	168.9	$	—	$	270.8