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Guarantor and Non-Guarantor Financial Statements (Tables) | 6 Months Ended
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Jun. 30, 2014
Guarantor and Non-Guarantor Financial Statement [Abstract] |
Schedule of Condensed Financial Statements | CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2014
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5.0 |  |  | $ | 164.7 |  |  | $ | 4.5 |  |  | $ | — |  |  | $ | 174.2 |
Short-term investments |  | — |  |  | 127.2 |  |  | — |  |  | — |  |  | 127.2 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade, less allowance for doubtful receivables |  | — |  |  | 119.0 |  |  | 4.1 |  |  | — |  |  | 123.1 |
Intercompany receivables |  | — |  |  | 26.1 |  |  | 0.7 |  |  | (26.8 | ) |  | — |
Other |  | — |  |  | 5.1 |  |  | 5.9 |  |  | — |  |  | 11.0 |
Inventories |  | — |  |  | 193.8 |  |  | 5.1 |  |  | (0.8 | ) |  | 198.1 |
Prepaid expenses and other current assets |  | 87.5 |  |  | 47.6 |  |  | 0.4 |  |  | — |  |  | 135.5 |
Total current assets |  | 92.5 |  |  | 683.5 |  |  | 20.7 |  |  | (27.6 | ) |  | 769.1 |
Investments in and advances to subsidiaries |  | 1,505.4 |  |  | 28.1 |  |  | — |  |  | (1,533.5 | ) |  | — |
Property, plant, and equipment — net |  | — |  |  | 425.9 |  |  | 15.5 |  |  | — |  |  | 441.4 |
Long-term intercompany receivables |  | — |  |  | — |  |  | 16.2 |  |  | (16.2 | ) |  | — |
Net assets of VEBAs |  | — |  |  | 422.2 |  |  | — |  |  | — |  |  | 422.2 |
Deferred tax assets — net |  | — |  |  | 36.9 |  |  | — |  |  | 8.9 |  |  | 45.8 |
Intangible assets — net |  | — |  |  | 32.9 |  |  | — |  |  | — |  |  | 32.9 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | 4.9 |  |  | 19.0 |  |  | 0.1 |  |  | — |  |  | 24.0 |
Total |  | $ | 1,602.8 |  |  | $ | 1,685.7 |  |  | $ | 52.5 |  |  | $ | (1,568.4 | ) |  | $ | 1,772.6 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 0.6 |  |  | $ | 64.2 |  |  | $ | 7.3 |  |  | $ | — |  |  | $ | 72.1 |
Intercompany payable |  | 23.4 |  |  | 8.5 |  |  | 2.0 |  |  | (33.9 | ) |  | — |
Accrued salaries, wages, and related expenses |  | — |  |  | 30.3 |  |  | 3.5 |  |  | — |  |  | 33.8 |
Other accrued liabilities |  | 92.2 |  |  | 21.7 |  |  | 1.2 |  |  | — |  |  | 115.1 |
Current portion of long-term debt |  | 167.9 |  |  | — |  |  | — |  |  | — |  |  | 167.9 |
Short-term capital lease |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total current liabilities |  | 284.1 |  |  | 124.8 |  |  | 14.0 |  |  | (33.9 | ) |  | 389.0 |
Deferred tax liability |  | — |  |  | — |  |  | 1.2 |  |  | — |  |  | 1.2 |
Long-term intercompany payable |  | — |  |  | 16.2 |  |  | — |  |  | (16.2 | ) |  | — |
Long-term liabilities |  | — |  |  | 52.7 |  |  | 11.0 |  |  | — |  |  | 63.7 |
Long-term debt |  | 225.0 |  |  | — |  |  | — |  |  | — |  |  | 225.0 |
Total liabilities |  | 509.1 |  |  | 193.7 |  |  | 26.2 |  |  | (50.1 | ) |  | 678.9 |
Total stockholders’ equity |  | 1,093.7 |  |  | 1,492.0 |  |  | 26.3 |  |  | (1,518.3 | ) |  | 1,093.7 |
Total |  | $ | 1,602.8 |  |  | $ | 1,685.7 |  |  | $ | 52.5 |  |  | $ | (1,568.4 | ) |  | $ | 1,772.6 |
CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2013
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 5.0 |  |  | $ | 157.7 |  |  | $ | 6.8 |  |  | $ | — |  |  | $ | 169.5 |
Short-term investments |  | — |  |  | 129.5 |  |  | — |  |  | — |  |  | 129.5 |
Receivables: |  |  |  |  |  |  |  |  |  |
Trade, less allowance for doubtful receivables |  | — |  |  | 117.7 |  |  | 2.1 |  |  | — |  |  | 119.8 |
Intercompany receivables |  | — |  |  | 0.1 |  |  | 0.2 |  |  | (0.3 | ) |  | — |
Other |  | — |  |  | 5.3 |  |  | 8.1 |  |  | — |  |  | 13.4 |
Inventories |  | — |  |  | 208.6 |  |  | 6.4 |  |  | (0.6 | ) |  | 214.4 |
Prepaid expenses and other current assets |  | 0.1 |  |  | 43.7 |  |  | 0.4 |  |  | — |  |  | 44.2 |
Total current assets |  | 5.1 |  |  | 662.6 |  |  | 24.0 |  |  | (0.9 | ) |  | 690.8 |
Investments in and advances to subsidiaries |  | 1,437.9 |  |  | 26.5 |  |  | — |  |  | (1,464.4 | ) |  | — |
Property, plant, and equipment — net |  | — |  |  | 414.0 |  |  | 15.3 |  |  | — |  |  | 429.3 |
Long-term intercompany receivables |  | 31.3 |  |  | 1.6 |  |  | 9.5 |  |  | (42.4 | ) |  | — |
Net assets of VEBAs |  | — |  |  | 406.0 |  |  | — |  |  | — |  |  | 406.0 |
Deferred tax assets — net |  | — |  |  | 60.2 |  |  | — |  |  | 8.9 |  |  | 69.1 |
Intangible assets — net |  | — |  |  | 33.7 |  |  | — |  |  | — |  |  | 33.7 |
Goodwill |  | — |  |  | 37.2 |  |  | — |  |  | — |  |  | 37.2 |
Other assets |  | 86.2 |  |  | 18.5 |  |  | 0.1 |  |  | — |  |  | 104.8 |
Total |  | $ | 1,560.5 |  |  | $ | 1,660.3 |  |  | $ | 48.9 |  |  | $ | (1,498.8 | ) |  | $ | 1,770.9 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 1.1 |  |  | $ | 56.3 |  |  | $ | 5.5 |  |  | $ | — |  |  | $ | 62.9 |
Intercompany payable |  | — |  |  | 13.9 |  |  | 0.1 |  |  | (14.0 | ) |  | — |
Accrued salaries, wages, and related expenses |  | — |  |  | 39.3 |  |  | 3.4 |  |  | — |  |  | 42.7 |
Other accrued liabilities |  | 3.5 |  |  | 39.9 |  |  | 1.4 |  |  | — |  |  | 44.8 |
Short-term capital lease |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Total current liabilities |  | 4.6 |  |  | 149.6 |  |  | 10.4 |  |  | (14.0 | ) |  | 150.6 |
Deferred tax liability |  | — |  |  | — |  |  | 1.2 |  |  | — |  |  | 1.2 |
Long-term intercompany payable |  | — |  |  | 40.7 |  |  | 1.7 |  |  | (42.4 | ) |  | — |
Long-term liabilities |  | 83.2 |  |  | 52.0 |  |  | 11.2 |  |  | — |  |  | 146.4 |
Long-term debt |  | 388.5 |  |  | — |  |  | — |  |  | — |  |  | 388.5 |
Total liabilities |  | 476.3 |  |  | 242.3 |  |  | 24.5 |  |  | (56.4 | ) |  | 686.7 |
Total stockholders’ equity |  | 1,084.2 |  |  | 1,418.0 |  |  | 24.4 |  |  | (1,442.4 | ) |  | 1,084.2 |
Total |  | $ | 1,560.5 |  |  | $ | 1,660.3 |  |  | $ | 48.9 |  |  | $ | (1,498.8 | ) |  | $ | 1,770.9 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHESIVE INCOME Quarter Ended June 30, 2014
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 335.7 |  |  | $ | 34.0 |  |  | $ | (25.6 | ) |  | $ | 344.1 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 270.8 |  |  | 29.7 |  |  | (25.0 | ) |  | 275.5 |
Unrealized gains on derivative instruments |  | — |  |  | (1.6 | ) |  | — |  |  | — |  |  | (1.6 | )
Depreciation and amortization |  | — |  |  | 7.5 |  |  | 0.2 |  |  | — |  |  | 7.7 |
Selling, administrative, research and development, and general |  |  |  |  |  |  |  |  |  |
Selling, administrative, research and development, and general |  | 1.2 |  |  | 18.5 |  |  | 2.9 |  |  | (0.6 | ) |  | 22.0 |
Net periodic pension benefit income relating to VEBAs |  | — |  |  | (6.1 | ) |  | — |  |  | — |  |  | (6.1 | )
Total selling, administrative, research and development, and general |  | 1.2 |  |  | 12.4 |  |  | 2.9 |  |  | (0.6 | ) |  | 15.9 |
Other operating charges, net |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Total costs and expenses |  | 1.2 |  |  | 289.3 |  |  | 32.8 |  |  | (25.6 | ) |  | 297.7 |
Operating (loss) income |  | (1.2 | ) |  | 46.4 |  |  | 1.2 |  |  | — |  |  | 46.4 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (9.3 | ) |  | — |  |  | — |  |  | 0.1 |  |  | (9.2 | )
Other income, net |  | 0.4 |  |  | 0.8 |  |  | 0.7 |  |  | (0.1 | ) |  | 1.8 |
(Loss) income before income taxes |  | (10.1 | ) |  | 47.2 |  |  | 1.9 |  |  | — |  |  | 39.0 |
Income tax (provision) benefit |  | — |  |  | (17.8 | ) |  | (0.5 | ) |  | 3.8 |  |  | (14.5 | )
Earnings in equity of subsidiaries |  | 34.6 |  |  | 1.4 |  |  | — |  |  | (36.0 | ) |  | — |
Net income |  | $ | 24.5 |  |  | $ | 30.8 |  |  | $ | 1.4 |  |  | $ | (32.2 | ) |  | $ | 24.5 |
Comprehensive income |  | $ | 26.6 |  |  | $ | 33.0 |  |  | $ | 1.3 |  |  | $ | (34.3 | ) |  | $ | 26.6 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHESIVE INCOME Six Months Ended June 30, 2014
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Net sales |  | $ | — |  |  | $ | 662.8 |  |  | $ | 67.1 |  |  | $ | (50.7 | ) |  | $ | 679.2 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |
Cost of products sold: |  |  |  |  |  |  |  |  |  |
Cost of products sold, excluding depreciation and amortization and other items |  | — |  |  | 549.7 |  |  | 58.1 |  |  | (49.4 | ) |  | 558.4 |
Unrealized gains on derivative instruments |  | — |  |  | (3.6 | ) |  | — |  |  | — |  |  | (3.6 | )
Depreciation and amortization |  | — |  |  | 14.6 |  |  | 0.5 |  |  | — |  |  | 15.1 |
Selling, administrative, research and development, and general |  |  |  |  |  |  |  |  |  |
Selling, administrative, research and development, and general |  | 2.2 |  |  | 35.1 |  |  | 6.2 |  |  | (1.2 | ) |  | 42.3 |
Net periodic pension benefit income relating to VEBAs |  | — |  |  | (11.7 | ) |  | — |  |  | — |  |  | (11.7 | )
Total selling, administrative, research and development, and general |  | 2.2 |  |  | 23.4 |  |  | 6.2 |  |  | (1.2 | ) |  | 30.6 |
Other operating charges, net |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Total costs and expenses |  | 2.2 |  |  | 584.3 |  |  | 64.8 |  |  | (50.6 | ) |  | 600.7 |
Operating (loss) income |  | (2.2 | ) |  | 78.5 |  |  | 2.3 |  |  | (0.1 | ) |  | 78.5 |
Other (expense) income: |  |  |  |  |  |  |  |  |  |
Interest expense |  | (18.6 | ) |  | 0.4 |  |  | — |  |  | 0.2 |  |  | (18.0 | )
Other income, net |  | 1.4 |  |  | 2.0 |  |  | 0.5 |  |  | (0.2 | ) |  | 3.7 |
(Loss) income before income taxes |  | (19.4 | ) |  | 80.9 |  |  | 2.8 |  |  | (0.1 | ) |  | 64.2 |
Income tax (provision) benefit |  | — |  |  | (30.4 | ) |  | (0.8 | ) |  | 7.3 |  |  | (23.9 | )
Earnings in equity of subsidiaries |  | 59.7 |  |  | 1.8 |  |  | — |  |  | (61.5 | ) |  | — |
Net income |  | $ | 40.3 |  |  | $ | 52.3 |  |  | $ | 2.0 |  |  | $ | (54.3 | ) |  | $ | 40.3 |
Comprehensive income |  | $ | 43.3 |  |  | $ | 55.2 |  |  | $ | 2.1 |  |  | $ | (57.3 | ) |  | $ | 43.3 |
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE 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 |  |  |  |  |  |  |  |  |  |
Selling, administrative, research and development, and general |  | 1.1 |  |  | 20.2 |  |  | 2.1 |  |  | (1.6 | ) |  | 21.8 |
Net periodic pension benefit income relating to VEBAs |  | — |  |  | (5.7 | ) |  | — |  |  | — |  |  | (5.7 | )
Total 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) benefit |  | — |  |  | (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 |  |  |  |  |  |  |  |  |  |
Selling, administrative, research and development, and general |  | 1.5 |  |  | 40.6 |  |  | 4.5 |  |  | (3.1 | ) |  | 43.5 |
Net periodic pension benefit income relating to VEBAs |  | — |  |  | (11.3 | ) |  | — |  |  | — |  |  | (11.3 | )
Total 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 CASH FLOWS Six Months Ended June 30, 2014
|  | Parent |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Consolidating Adjustments |  | Consolidated
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |
Net cash provided by operating activities |  | $ | 7.6 |  |  | $ | 56.9 |  |  | $ | 6.8 |  |  | $ | — |  |  | $ | 71.3 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (29.4 | ) |  | (0.7 | ) |  | — |  |  | (30.1 | )
Purchase of available for sale securities |  | — |  |  | (23.4 | ) |  | — |  |  | — |  |  | (23.4 | )
Proceeds from disposition of available for sale securities |  | — |  |  | 25.0 |  |  | — |  |  | — |  |  | 25.0 |
Net cash used in investing activities |  | — |  |  | (27.8 | ) |  | (0.7 | ) |  | — |  |  | (28.5 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |
Excess tax benefit upon vesting of non-vested shares and dividend payment on unvested shares expected to vest |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Cancellation of shares to cover employees’ tax withholdings upon vesting of non-vested shares |  | (2.4 | ) |  | — |  |  | — |  |  | — |  |  | (2.4 | )
Repurchase of common stock |  | (23.7 | ) |  | — |  |  | — |  |  | — |  |  | (23.7 | )
Cash dividend paid to stockholders |  | (12.8 | ) |  | — |  |  | — |  |  | — |  |  | (12.8 | )
Intercompany loan |  | 31.3 |  |  | (22.9 | ) |  | (8.4 | ) |  | — |  |  | — |
Net cash used in financing activities |  | (7.6 | ) |  | (22.1 | ) |  | (8.4 | ) |  | — |  |  | (38.1 | )
Net increase (decrease) in cash and cash equivalents during the period |  | — |  |  | 7.0 |  |  | (2.3 | ) |  | — |  |  | 4.7 |
Cash and cash equivalents at beginning of period |  | 5.0 |  |  | 157.7 |  |  | 6.8 |  |  | — |  |  | 169.5 |
Cash and cash equivalents at end of period |  | $ | 5.0 |  |  | $ | 164.7 |  |  | $ | 4.5 |  |  | $ | — |  |  | $ | 174.2 |
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 | )
Repurchase of common stock |  | (39.9 | ) |  | — |  |  | — |  |  | — |  |  | (39.9 | )
Cash dividend paid to stockholders |  | (11.6 | ) |  | — |  |  | — |  |  | — |  |  | (11.6 | )
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 |

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