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Guarantor and Non-Guarantor Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2013
Guarantor and Non-Guarantor Financial Statement [Abstract] |
Schedule of Condensed Financial Statements | CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5.0 |  |  | $ | 275.7 |  |  | $ | 1.0 |  |  | $ | — |  |  | $ | 281.7 |
Short-term investments |  | — |  |  | 47.3 |  |  | — |  |  | — |  |  | 47.3 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade, less allowance for doubtful receivables |  | — |  |  | 120.0 |  |  | 2.7 |  |  | — |  |  | 122.7 |
Intercompany receivables |  | — |  |  | 0.1 |  |  | 0.4 |  |  | (0.5 | ) |  | — |
Other |  | — |  |  | 1.5 |  |  | 10.1 |  |  | — |  |  | 11.6 |
Inventories |  | — |  |  | 195.4 |  |  | 8.0 |  |  | (0.5 | ) |  | 202.9 |
Prepaid expenses and other current assets |  | — |  |  | 68.2 |  |  | 1.9 |  |  | — |  |  | 70.1 |
Total current assets |  | 5.0 |  |  | 708.2 |  |  | 24.1 |  |  | (1.0 | ) |  | 736.3 |
Investments in and advances to unconsolidated affiliates |  | 1,364.1 |  |  | 16.3 |  |  | — |  |  | (1,380.4 | ) |  | — |
Property, plant, and equipment — net |  | — |  |  | 385.3 |  |  | 13.0 |  |  | — |  |  | 398.3 |
Long-term intercompany receivables |  | 95.6 |  |  | 1.3 |  |  | 10.5 |  |  | (107.4 | ) |  | — |
Net asset in respect of VEBA |  | — |  |  | 379.1 |  |  | — |  |  | — |  |  | 379.1 |
Deferred tax assets (liabilities) — net |  | — |  |  | 67.5 |  |  | (1.0 | ) |  | 9.3 |  |  | 75.8 |
Intangible assets — net |  | — |  |  | 34.5 |  |  | — |  |  | — |  |  | 34.5 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | 59.9 |  |  | 18.5 |  |  | 0.1 |  |  | — |  |  | 78.5 |
Total |  | $ | 1,524.6 |  |  | $ | 1,647.9 |  |  | $ | 46.7 |  |  | $ | (1,479.5 | ) |  | $ | 1,739.7 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 0.5 |  |  | $ | 64.3 |  |  | $ | 8.4 |  |  | $ | — |  |  | $ | 73.2 |
Intercompany payable |  | — |  |  | 7.5 |  |  | 0.2 |  |  | (7.7 | ) |  | — |
Accrued salaries, wages, and related expenses |  | — |  |  | 30.5 |  |  | 3.2 |  |  | — |  |  | 33.7 |
Other accrued liabilities |  | 3.5 |  |  | 35.3 |  |  | 1.1 |  |  | — |  |  | 39.9 |
Short-term capital lease |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total current liabilities |  | 4.0 |  |  | 137.9 |  |  | 12.9 |  |  | (7.7 | ) |  | 147.1 |
Net liability in respect of VEBA |  | — |  |  | 4.5 |  |  | — |  |  | — |  |  | 4.5 |
Long-term intercompany payable |  | — |  |  | 106.1 |  |  | 1.3 |  |  | (107.4 | ) |  | — |
Long-term liabilities |  | 59.5 |  |  | 48.9 |  |  | 18.6 |  |  | — |  |  | 127.0 |
Long-term debt |  | 384.3 |  |  | — |  |  | — |  |  | — |  |  | 384.3 |
Total liabilities |  | 447.8 |  |  | 297.4 |  |  | 32.8 |  |  | (115.1 | ) |  | 662.9 |
Total stockholders’ equity |  | 1,076.8 |  |  | 1,350.5 |  |  | 13.9 |  |  | (1,364.4 | ) |  | 1,076.8 |
Total |  | $ | 1,524.6 |  |  | $ | 1,647.9 |  |  | $ | 46.7 |  |  | $ | (1,479.5 | ) |  | $ | 1,739.7 |
CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2012
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5.0 |  |  | $ | 266.0 |  |  | $ | 2.4 |  |  | $ | — |  |  | $ | 273.4 |
Short-term investments |  | — |  |  | 85.0 |  |  | — |  |  | — |  |  | 85.0 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade, less allowance for doubtful receivables |  | — |  |  | 121.5 |  |  | 2.3 |  |  | — |  |  | 123.8 |
Intercompany (payables) receivables |  | — |  |  | (10.3 | ) |  | 0.4 |  |  | 9.9 |  |  | — |
Other |  | — |  |  | 1.3 |  |  | 2.1 |  |  | — |  |  | 3.4 |
Inventories |  | — |  |  | 178.7 |  |  | 7.3 |  |  | — |  |  | 186.0 |
Prepaid expenses and other current assets |  | — |  |  | 68.1 |  |  | 2.0 |  |  | — |  |  | 70.1 |
Total current assets |  | 5.0 |  |  | 710.3 |  |  | 16.5 |  |  | 9.9 |  |  | 741.7 |
Investments in and advances to unconsolidated affiliates |  | 1,284.1 |  |  | 7.4 |  |  | — |  |  | (1,291.5 | ) |  | — |
Property, plant, and equipment — net |  | — |  |  | 371.8 |  |  | 12.5 |  |  | — |  |  | 384.3 |
Long-term intercompany receivables |  | 163.7 |  |  | 0.4 |  |  | 6.4 |  |  | (170.5 | ) |  | — |
Net asset in respect of VEBA |  | — |  |  | 365.9 |  |  | — |  |  | — |  |  | 365.9 |
Deferred tax assets (liabilities) — net |  | — |  |  | 93.4 |  |  | (0.8 | ) |  | 9.4 |  |  | 102.0 |
Intangible assets — net |  | — |  |  | 35.4 |  |  | — |  |  | — |  |  | 35.4 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | 64.0 |  |  | 19.2 |  |  | 3.0 |  |  | (0.2 | ) |  | 86.0 |
Total |  | $ | 1,516.8 |  |  | $ | 1,641.0 |  |  | $ | 37.6 |  |  | $ | (1,442.9 | ) |  | $ | 1,752.5 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 0.1 |  |  | $ | 56.5 |  |  | $ | 5.9 |  |  | $ | — |  |  | $ | 62.5 |
Intercompany payable |  | — |  |  | 0.3 |  |  | 0.2 |  |  | (0.5 | ) |  | — |
Accrued salaries, wages, and related expenses |  | — |  |  | 36.7 |  |  | 2.6 |  |  | — |  |  | 39.3 |
Other accrued liabilities |  | 3.5 |  |  | 47.8 |  |  | 0.5 |  |  | — |  |  | 51.8 |
Payable to affiliate |  | — |  |  | 7.9 |  |  | — |  |  | — |  |  | 7.9 |
Short-term capital lease |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total current liabilities |  | 3.6 |  |  | 149.3 |  |  | 9.2 |  |  | (0.5 | ) |  | 161.6 |
Net liability in respect of VEBA |  | — |  |  | 5.3 |  |  | — |  |  | — |  |  | 5.3 |
Long-term intercompany payable |  | — |  |  | 170.0 |  |  | 0.5 |  |  | (170.5 | ) |  | — |
Long-term liabilities |  | 62.1 |  |  | 49.6 |  |  | 22.8 |  |  | — |  |  | 134.5 |
Long-term debt |  | 380.3 |  |  | — |  |  | — |  |  | — |  |  | 380.3 |
Total liabilities |  | 446.0 |  |  | 374.2 |  |  | 32.5 |  |  | (171.0 | ) |  | 681.7 |
Total stockholders’ equity |  | 1,070.8 |  |  | 1,266.8 |  |  | 5.1 |  |  | (1,271.9 | ) |  | 1,070.8 |
Total |  | $ | 1,516.8 |  |  | $ | 1,641.0 |  |  | $ | 37.6 |  |  | $ | (1,442.9 | ) |  | $ | 1,752.5 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHESIVE INCOME Quarter Ended June 30, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 324.7 |  |  | $ | 29.6 |  |  | $ | (25.4 | ) |  | $ | 328.9 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 258.9 |  |  | 26.3 |  |  | (23.7 | ) |  | 261.5 |
Unrealized losses on derivative instruments |  | — |  |  | 4.2 |  |  | — |  |  | — |  |  | 4.2 |
Depreciation and amortization |  | — |  |  | 6.8 |  |  | 0.2 |  |  | — |  |  | 7.0 |
Selling, administrative, research and development, and general |  | 1.1 |  |  | 14.5 |  |  | 2.1 |  |  | (1.6 | ) |  | 16.1 |
Total costs and expenses |  | 1.1 |  |  | 284.4 |  |  | 28.6 |  |  | (25.3 | ) |  | 288.8 |
Operating (loss) income |  | (1.1 | ) |  | 40.3 |  |  | 1.0 |  |  | (0.1 | ) |  | 40.1 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (9.0 | ) |  | — |  |  | — |  |  | — |  |  | (9.0 | )
Other (expense) income, net |  | (0.9 | ) |  | 0.3 |  |  | (0.2 | ) |  | — |  |  | (0.8 | )
(Loss) income before income taxes |  | (11.0 | ) |  | 40.6 |  |  | 0.8 |  |  | (0.1 | ) |  | 30.3 |
Income tax provision |  | — |  |  | (15.1 | ) |  | (0.7 | ) |  | 4.1 |  |  | (11.7 | )
Earnings (losses) in equity of subsidiaries |  | 29.6 |  |  | (0.1 | ) |  | — |  |  | (29.5 | ) |  | — |
Net income |  | $ | 18.6 |  |  | $ | 25.4 |  |  | $ | 0.1 |  |  | $ | (25.5 | ) |  | $ | 18.6 |
Comprehensive income |  | $ | 19.9 |  |  | $ | 26.3 |  |  | $ | 0.5 |  |  | $ | (26.8 | ) |  | $ | 19.9 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHESIVE INCOME Six Months Ended June 30, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 656.5 |  |  | $ | 60.0 |  |  | $ | (50.2 | ) |  | $ | 666.3 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 518.6 |  |  | 53.3 |  |  | (46.8 | ) |  | 525.1 |
Unrealized losses on derivative instruments |  | — |  |  | 4.9 |  |  | — |  |  | — |  |  | 4.9 |
Depreciation and amortization |  | — |  |  | 13.5 |  |  | 0.5 |  |  | — |  |  | 14.0 |
Selling, administrative, research and development, and general |  | 1.5 |  |  | 29.3 |  |  | 4.5 |  |  | (3.1 | ) |  | 32.2 |
Total costs and expenses |  | 1.5 |  |  | 566.3 |  |  | 58.3 |  |  | (49.9 | ) |  | 576.2 |
Operating (loss) income |  | (1.5 | ) |  | 90.2 |  |  | 1.7 |  |  | (0.3 | ) |  | 90.1 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (18.1 | ) |  | (0.3 | ) |  | — |  |  | 0.1 |  |  | (18.3 | )
Other (expense) income, net |  | (0.5 | ) |  | 0.9 |  |  | (0.1 | ) |  | (0.1 | ) |  | 0.2 |
(Loss) income before income taxes |  | (20.1 | ) |  | 90.8 |  |  | 1.6 |  |  | (0.3 | ) |  | 72.0 |
Income tax (provision) benefit |  | — |  |  | (34.1 | ) |  | 6.5 |  |  | 7.7 |  |  | (19.9 | )
Earnings in equity of subsidiaries |  | 72.2 |  |  | 7.7 |  |  | — |  |  | (79.9 | ) |  | — |
Net income |  | $ | 52.1 |  |  | $ | 64.4 |  |  | $ | 8.1 |  |  | $ | (72.5 | ) |  | $ | 52.1 |
Comprehensive income |  | $ | 54.6 |  |  | $ | 66.1 |  |  | $ | 8.9 |  |  | $ | (75.0 | ) |  | $ | 54.6 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME Quarter Ended June 30, 2012
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 335.0 |  |  | $ | 32.1 |  |  | $ | (21.9 | ) |  | $ | 345.2 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 276.8 |  |  | 29.0 |  |  | (21.4 | ) |  | 284.4 |
Unrealized losses on derivative instruments |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Depreciation and amortization |  | — |  |  | 6.3 |  |  | 0.3 |  |  | — |  |  | 6.6 |
Selling, administrative, research and development, and general |  | 0.8 |  |  | 13.5 |  |  | 0.7 |  |  | (0.6 | ) |  | 14.4 |
Other operating charges, net |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total costs and expenses |  | 0.8 |  |  | 296.8 |  |  | 30.0 |  |  | (22.0 | ) |  | 305.6 |
Operating (loss) income |  | (0.8 | ) |  | 38.2 |  |  | 2.1 |  |  | 0.1 |  |  | 39.6 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (6.2 | ) |  | (0.3 | ) |  | — |  |  | — |  |  | (6.5 | )
Other income, net |  | 0.7 |  |  | 0.3 |  |  | 0.1 |  |  | — |  |  | 1.1 |
(Loss) income before income taxes |  | (6.3 | ) |  | 38.2 |  |  | 2.2 |  |  | 0.1 |  |  | 34.2 |
Income tax provision |  | — |  |  | (14.7 | ) |  | (0.7 | ) |  | 2.2 |  |  | (13.2 | )
Earnings in equity of subsidiaries |  | 27.3 |  |  | 1.6 |  |  | — |  |  | (28.9 | ) |  | — |
Net income |  | $ | 21.0 |  |  | $ | 25.1 |  |  | $ | 1.5 |  |  | $ | (26.6 | ) |  | $ | 21.0 |
Comprehensive income |  | $ | 22.5 |  |  | $ | 26.2 |  |  | $ | 1.9 |  |  | $ | (28.1 | ) |  | $ | 22.5 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHESIVE INCOME Six Months Ended June 30, 2012
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 690.5 |  |  | $ | 64.7 |  |  | $ | (44.6 | ) |  | $ | 710.6 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 567.3 |  |  | 58.9 |  |  | (43.7 | ) |  | 582.5 |
Unrealized gains on derivative instruments |  | — |  |  | (3.0 | ) |  | — |  |  | — |  |  | (3.0 | )
Depreciation and amortization |  | — |  |  | 12.4 |  |  | 0.5 |  |  | — |  |  | 12.9 |
Selling, administrative, research and development, and general |  | 1.3 |  |  | 31.2 |  |  | 0.7 |  |  | (0.9 | ) |  | 32.3 |
Other operating charges, net |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total costs and expenses |  | 1.3 |  |  | 608.0 |  |  | 60.1 |  |  | (44.6 | ) |  | 624.8 |
Operating (loss) income |  | (1.3 | ) |  | 82.5 |  |  | 4.6 |  |  | — |  |  | 85.8 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (10.2 | ) |  | (0.4 | ) |  | — |  |  | — |  |  | (10.6 | )
Other income, net |  | 1.2 |  |  | 0.5 |  |  | 0.1 |  |  | — |  |  | 1.8 |
(Loss) income before income taxes |  | (10.3 | ) |  | 82.6 |  |  | 4.7 |  |  | — |  |  | 77.0 |
Income tax provision |  | — |  |  | (31.5 | ) |  | (1.4 | ) |  | 3.4 |  |  | (29.5 | )
Earnings in equity of subsidiaries |  | 57.8 |  |  | 3.3 |  |  | — |  |  | (61.1 | ) |  | — |
Net income |  | $ | 47.5 |  |  | $ | 54.4 |  |  | $ | 3.3 |  |  | $ | (57.7 | ) |  | $ | 47.5 |
Comprehensive income |  | $ | 50.1 |  |  | $ | 56.9 |  |  | $ | 3.4 |  |  | $ | (60.3 | ) |  | $ | 50.1 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities |  | $ | (14.4 | ) |  | $ | 60.4 |  |  | $ | 2.9 |  |  | $ | — |  |  | $ | 48.9 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (25.0 | ) |  | (1.0 | ) |  | — |  |  | (26.0 | )
Purchase of available for sale securities |  | — |  |  | (98.2 | ) |  | — |  |  | — |  |  | (98.2 | )
Proceeds from sale of available for sale securities |  | — |  |  | 135.7 |  |  | — |  |  | — |  |  | 135.7 |
Change in restricted cash |  | — |  |  | 0.7 |  |  | — |  |  | — |  |  | 0.7 |
Net cash provided by (used in) investing activities |  | — |  |  | 13.2 |  |  | (1.0 | ) |  | — |  |  | 12.2 |
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest |  | — |  |  | 0.9 |  |  | — |  |  | — |  |  | 0.9 |
Cancellation of shares to cover employees’ tax withholdings upon vesting of non-vested shares |  | (2.2 | ) |  | — |  |  | — |  |  | — |  |  | (2.2 | )
Cash dividend paid to stockholders |  | (11.6 | ) |  | — |  |  | — |  |  | — |  |  | (11.6 | )
Repurchase of common stock |  | (39.9 | ) |  | — |  |  | — |  |  | — |  |  | (39.9 | )
Intercompany loan |  | 68.1 |  |  | (64.8 | ) |  | (3.3 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities |  | 14.4 |  |  | (63.9 | ) |  | (3.3 | ) |  | — |  |  | (52.8 | )
Net increase (decrease) in cash and cash equivalents during the period |  | — |  |  | 9.7 |  |  | (1.4 | ) |  | — |  |  | 8.3 |
Cash and cash equivalents at beginning of period |  | 5.0 |  |  | 266.0 |  |  | 2.4 |  |  | — |  |  | 273.4 |
Cash and cash equivalents at end of period |  | $ | 5.0 |  |  | $ | 275.7 |  |  | $ | 1.0 |  |  | $ | — |  |  | $ | 281.7 |
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS Six Months Ended June 30, 2012
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |
Net cash (used in) provided by operating activities 1 |  | $ | (3.5 | ) |  | $ | 78.5 |  |  | $ | (0.3 | ) |  | $ | — |  |  | $ | 74.7 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (16.4 | ) |  | (0.5 | ) |  | — |  |  | (16.9 | )
Purchase of available for sale securities |  | — |  |  | (0.3 | ) |  | — |  |  | — |  |  | (0.3 | )
Change in restricted cash |  | 6.9 |  |  | 0.3 |  |  | — |  |  | — |  |  | 7.2 |
Net cash provided by (used in) investing activities |  | 6.9 |  |  | (16.4 | ) |  | (0.5 | ) |  | — |  |  | (10.0 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of senior notes |  | 225.0 |  |  | — |  |  | — |  |  | — |  |  | 225.0 |
Cash paid for financing costs |  | (6.4 | ) |  | — |  |  | — |  |  | — |  |  | (6.4 | )
Repayment of promissory notes |  | — |  |  | (4.7 | ) |  | — |  |  | — |  |  | (4.7 | )
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest |  | — |  |  | 1.3 |  |  | — |  |  | — |  |  | 1.3 |
Cancellation of shares to cover employees’ tax withholdings upon vesting of non-vested shares |  | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Cash dividend paid to stockholders |  | (9.8 | ) |  | — |  |  | — |  |  | — |  |  | (9.8 | )
Intercompany loan 1 |  | (210.1 | ) |  | 210.2 |  |  | (0.1 | ) |  | — |  |  | — |
Net cash provided (used in) by financing activities |  | (3.4 | ) |  | 206.8 |  |  | (0.1 | ) |  | — |  |  | 203.3 |
Net increase (decrease) in cash and cash equivalents during the period |  | — |  |  | 268.9 |  |  | (0.9 | ) |  | — |  |  | 268.0 |
Cash and cash equivalents at beginning of period |  | 5.0 |  |  | 43.0 |  |  | 1.8 |  |  | — |  |  | 49.8 |
Cash and cash equivalents at end of period |  | $ | 5.0 |  |  | $ | 311.9 |  |  | $ | 0.9 |  |  | $ | — |  |  | $ | 317.8 |
_____________
1 | The Company treats changes in long-term intercompany balances that relate to financing activities as cash flow from financing activities. In the above table, the Company has corrected the previous classification of the changes in such intercompany balances during six months ended June 30, 2012 from cash flows from operating activities to a separate line item in cash flows from financing activities captioned “intercompany loan”. Management has concluded that the correction of these errors is immaterial.

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