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Subsidiary Guarantors of 2018 Notes, 2020 Notes and 2022 Notes (Tables) | 6 Months Ended
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Jun. 30, 2013
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Statement of Operations | The Manitowoc Company, Inc. Condensed Consolidating Statement of Operations For the Three Months Ended June 30, 2013 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 682.3 |  |  | $ | 527.0 |  |  | $ | (162.7 | ) |  | $ | 1,046.6 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | 511.1 |  |  | 425.4 |  |  | (162.7 | ) |  | 773.8 |
Engineering, selling and administrative expenses | 15.5 |  |  | 66.2 |  |  | 79.6 |  |  | — |  |  | 161.3 |
Amortization expense | — |  |  | 7.4 |  |  | 1.6 |  |  | — |  |  | 9.0 |
Restructuring expense | — |  |  | 0.1 |  |  | 0.8 |  |  | — |  |  | 0.9 |
Other | — |  |  | — |  |  | — |  |  | — |  |  | — |
Equity in (earnings) loss of subsidiaries | (61.1 | ) |  | (5.7 | ) |  | — |  |  | 66.8 |  |  | — |
Total costs and expenses | (45.6 | ) |  | 579.1 |  |  | 507.4 |  |  | (95.9 | ) |  | 945.0 |
Operating earnings (loss) from continuing operations | 45.6 |  |  | 103.2 |  |  | 19.6 |  |  | (66.8 | ) |  | 101.6 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (29.9 | ) |  | (0.4 | ) |  | (2.3 | ) |  | — |  |  | (32.6 | )
Amortization of deferred financing fees | (1.7 | ) |  | — |  |  | — |  |  | — |  |  | (1.7 | )
Loss on debt extinguishment | — |  |  | — |  |  | — |  |  | — |  |  | — |
Management fee income (expense) | 14.9 |  |  | (18.7 | ) |  | 3.8 |  |  | — |  |  | — |
Other income (expense), net | 1.5 |  |  | (8.7 | ) |  | 5.8 |  |  | — |  |  | (1.4 | )
Total other income (expenses) | (15.2 | ) |  | (27.8 | ) |  | 7.3 |  |  | — |  |  | (35.7 | )
Earnings (loss) from continuing operations before taxes on earnings | 30.4 |  |  | 75.4 |  |  | 26.9 |  |  | (66.8 | ) |  | 65.9 |
Provision (benefit) for taxes on income | (27.2 | ) |  | 26.1 |  |  | 10.4 |  |  | — |  |  | 9.3 |
Earnings (loss) from continuing operations | 57.6 |  |  | 49.3 |  |  | 16.5 |  |  | (66.8 | ) |  | 56.6 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loss from discontinued operations, net of income taxes | — |  |  | (2.0 | ) |  | (0.1 | ) |  | — |  |  | (2.1 | )
Loss on sale of discontinued operations, net of income taxes | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings (loss) | 57.6 |  |  | 47.3 |  |  | 16.4 |  |  | (66.8 | ) |  | 54.5 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (3.1 | ) |  | — |  |  | (3.1 | )
Net earnings (loss) attributable to Manitowoc | $ | 57.6 |  |  | $ | 47.3 |  |  | $ | 19.5 |  |  | $ | (66.8 | ) |  | $ | 57.6 |
Comprehensive income (loss) attributable to Manitowoc | $ | 57.7 |  |  | $ | 47.2 |  |  | $ | 2.6 |  |  | $ | (49.8 | ) |  | $ | 57.7 |
The Manitowoc Company, Inc. Condensed Consolidating Statement of Operations For the Three Months Ended June 30, 2012 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 664.1 |  |  | $ | 491.2 |  |  | $ | (158.1 | ) |  | $ | 997.2 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | 502.3 |  |  | 401.8 |  |  | (158.1 | ) |  | 746.0 |
Engineering, selling and administrative expenses | 15.8 |  |  | 60.1 |  |  | 73.7 |  |  | — |  |  | 149.6 |
Amortization expense | — |  |  | 7.5 |  |  | 1.8 |  |  | — |  |  | 9.3 |
Restructuring expense | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Other | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Equity in (earnings) loss of subsidiaries | (55.3 | ) |  | (5.8 | ) |  | — |  |  | 61.1 |  |  | — |
Total costs and expenses | (39.5 | ) |  | 564.2 |  |  | 477.5 |  |  | (97.0 | ) |  | 905.2 |
Operating earnings (loss) from continuing operations | 39.5 |  |  | 99.9 |  |  | 13.7 |  |  | (61.1 | ) |  | 92.0 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (30.3 | ) |  | (0.4 | ) |  | (3.1 | ) |  | — |  |  | (33.8 | )
Amortization of deferred financing fees | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Management fee income (expense) | 15.4 |  |  | (19.3 | ) |  | 3.9 |  |  | — |  |  | — |
Other income (expense), net | 12.5 |  |  | (12.7 | ) |  | 2.2 |  |  | — |  |  | 2.0 |
Total other income (expenses) | (4.5 | ) |  | (32.4 | ) |  | 3.0 |  |  | — |  |  | (33.9 | )
Earnings (loss) from continuing operations before taxes on earnings | 35.0 |  |  | 67.5 |  |  | 16.7 |  |  | (61.1 | ) |  | 58.1 |
Provision (benefit) for taxes on earnings | (10.3 | ) |  | 23.9 |  |  | 1.9 |  |  | — |  |  | 15.5 |
Earnings (loss) from continuing operations | 45.3 |  |  | 43.6 |  |  | 14.8 |  |  | (61.1 | ) |  | 42.6 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from discontinued operations, net of income taxes | — |  |  | (0.2 | ) |  | 0.6 |  |  | — |  |  | 0.4 |
Net earnings (loss) | 45.3 |  |  | 43.4 |  |  | 15.4 |  |  | (61.1 | ) |  | 43.0 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (2.3 | ) |  | — |  |  | (2.3 | )
Net earnings (loss) attributable to Manitowoc | $ | 45.3 |  |  | $ | 43.4 |  |  | $ | 17.7 |  |  | $ | (61.1 | ) |  | $ | 45.3 |
Comprehensive income (loss) attributable to Manitowoc | $ | 2.7 |  |  | $ | 44.3 |  |  | $ | 26.0 |  |  | $ | (70.3 | ) |  | $ | 2.7 |
The Manitowoc Company, Inc. Condensed Consolidating Statement of Operations For the Six Months Ended June 30, 2013 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,302.1 |  |  | $ | 974.5 |  |  | $ | (332.0 | ) |  | $ | 1,944.6 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | 990.7 |  |  | 793.1 |  |  | (332.0 | ) |  | 1,451.8 |
Engineering, selling and administrative expenses | 33.2 |  |  | 130.5 |  |  | 155.7 |  |  | — |  |  | 319.4 |
Amortization expense | — |  |  | 14.8 |  |  | 3.3 |  |  | — |  |  | 18.1 |
Restructuring expense | — |  |  | 0.1 |  |  | 1.1 |  |  | — |  |  | 1.2 |
Other | — |  |  | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Equity in (earnings) loss of subsidiaries | (86.6 | ) |  | (18.5 | ) |  | — |  |  | 105.1 |  |  | — |
Total costs and expenses | (53.4 | ) |  | 1,117.9 |  |  | 953.2 |  |  | (226.9 | ) |  | 1,790.8 |
Operating earnings (loss) from continuing operations | 53.4 |  |  | 184.2 |  |  | 21.3 |  |  | (105.1 | ) |  | 153.8 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (60.3 | ) |  | (0.6 | ) |  | (5.0 | ) |  | — |  |  | (65.9 | )
Amortization of deferred financing fees | (3.5 | ) |  | — |  |  | — |  |  | — |  |  | (3.5 | )
Loss on debt extinguishment | (0.4 | ) |  | — |  |  | — |  |  | — |  |  | (0.4 | )
Management fee income (expense) | 29.7 |  |  | (36.1 | ) |  | 6.4 |  |  | — |  |  | — |
Other income (expense), net | 5.9 |  |  | (16.4 | ) |  | 10.7 |  |  | — |  |  | 0.2 |
Total other income (expenses) | (28.6 | ) |  | (53.1 | ) |  | 12.1 |  |  | — |  |  | (69.6 | )
Earnings (loss) from continuing operations before taxes on earnings | 24.8 |  |  | 131.1 |  |  | 33.4 |  |  | (105.1 | ) |  | 84.2 |
Provision (benefit) for taxes on income | (43.2 | ) |  | 45.3 |  |  | 15.7 |  |  | — |  |  | 17.8 |
Earnings (loss) from continuing operations | 68.0 |  |  | 85.8 |  |  | 17.7 |  |  | (105.1 | ) |  | 66.4 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from discontinued operations, net of income taxes | — |  |  | (2.2 | ) |  | — |  |  | — |  |  | (2.2 | )
Loss on sale of discontinued operations, net of income taxes | — |  |  | — |  |  | (1.6 | ) |  | — |  |  | (1.6 | )
Net earnings (loss) | 68.0 |  |  | 83.6 |  |  | 16.1 |  |  | (105.1 | ) |  | 62.6 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (5.4 | ) |  | — |  |  | (5.4 | )
Net earnings (loss) attributable to Manitowoc | $ | 68.0 |  |  | $ | 83.6 |  |  | $ | 21.5 |  |  | $ | (105.1 | ) |  | $ | 68.0 |
Comprehensive income (loss) attributable to Manitowoc | $ | 51.9 |  |  | $ | 83.5 |  |  | $ | 10.7 |  |  | $ | (94.2 | ) |  | $ | 51.9 |
The Manitowoc Company, Inc. Condensed Consolidating Statement of Operations For the Six Months Ended June 30, 2012 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,248.1 |  |  | $ | 899.3 |  |  | $ | (298.3 | ) |  | $ | 1,849.1 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | 951.4 |  |  | 741.5 |  |  | (298.3 | ) |  | 1,394.6 |
Engineering, selling and administrative expenses | 31.2 |  |  | 120.1 |  |  | 145.2 |  |  | — |  |  | 296.5 |
Amortization expense | — |  |  | 14.9 |  |  | 3.7 |  |  | — |  |  | 18.6 |
Restructuring expense | — |  |  | 0.2 |  |  | 0.7 |  |  | — |  |  | 0.9 |
Other | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Equity in (earnings) loss of subsidiaries | (64.3 | ) |  | (20.0 | ) |  | — |  |  | 84.3 |  |  | — |
Total costs and expenses | (33.1 | ) |  | 1,066.7 |  |  | 891.1 |  |  | (214.0 | ) |  | 1,710.7 |
Operating earnings (loss) from continuing operations | 33.1 |  |  | 181.4 |  |  | 8.2 |  |  | (84.3 | ) |  | 138.4 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (60.3 | ) |  | (0.9 | ) |  | (5.6 | ) |  | — |  |  | (66.8 | )
Amortization of deferred financing fees | (4.1 | ) |  | — |  |  | — |  |  | — |  |  | (4.1 | )
Management fee income (expense) | 30.8 |  |  | (37.8 | ) |  | 7.0 |  |  | — |  |  | — |
Other income (expense), net | 29.5 |  |  | (30.5 | ) |  | 1.2 |  |  | — |  |  | 0.2 |
Total other income (expenses) | (4.1 | ) |  | (69.2 | ) |  | 2.6 |  |  | — |  |  | (70.7 | )
Earnings (loss) from continuing operations before taxes on earnings | 29.0 |  |  | 112.2 |  |  | 10.8 |  |  | (84.3 | ) |  | 67.7 |
Provision (benefit) for taxes on earnings | (16.0 | ) |  | 35.4 |  |  | 7.5 |  |  | — |  |  | 26.9 |
Earnings (loss) from continuing operations | 45.0 |  |  | 76.8 |  |  | 3.3 |  |  | (84.3 | ) |  | 40.8 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from discontinued operations, net of income taxes | — |  |  | (0.5 | ) |  | 0.5 |  |  | — |  |  | — |
Net earnings (loss) | 45.0 |  |  | 76.3 |  |  | 3.8 |  |  | (84.3 | ) |  | 40.8 |
Less: Net loss attributable to noncontrolling interest | — |  |  | — |  |  | (4.2 | ) |  | — |  |  | (4.2 | )
Net earnings (loss) attributable to Manitowoc | $ | 45.0 |  |  | $ | 76.3 |  |  | $ | 8.0 |  |  | $ | (84.3 | ) |  | $ | 45.0 |
Comprehensive income (loss) attributable to Manitowoc | $ | 22.8 |  |  | $ | 77.5 |  |  | $ | 19.6 |  |  | $ | (97.1 | ) |  | $ | 22.8 |
Condensed Consolidating Balance Sheet | The Manitowoc Company, Inc. Condensed Consolidating Balance Sheet as of June 30, 2013 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 7.3 |  |  | $ | 10.2 |  |  | $ | 74.2 |  |  | $ | — |  |  | $ | 91.7 |
Marketable securities | 2.7 |  |  | — |  |  | — |  |  | — |  |  | 2.7 |
Restricted cash | 5.3 |  |  | — |  |  | 5.4 |  |  | — |  |  | 10.7 |
Accounts receivable — net | — |  |  | 34.7 |  |  | 305.8 |  |  | — |  |  | 340.5 |
Intercompany interest receivable | 20.0 |  |  | 3.1 |  |  | — |  |  | (23.1 | ) |  | — |
Inventories — net | — |  |  | 383.7 |  |  | 432.2 |  |  | — |  |  | 815.9 |
Deferred income taxes | 73.0 |  |  | — |  |  | 16.1 |  |  | — |  |  | 89.1 |
Other current assets | 2.8 |  |  | 2.2 |  |  | 102.9 |  |  | — |  |  | 107.9 |
Total current assets | 111.1 |  |  | 433.9 |  |  | 936.6 |  |  | (23.1 | ) |  | 1,458.5 |
Property, plant and equipment — net | 5.9 |  |  | 279.7 |  |  | 274.3 |  |  | — |  |  | 559.9 |
Goodwill | — |  |  | 969.1 |  |  | 237.8 |  |  | — |  |  | 1,206.9 |
Other intangible assets — net | — |  |  | 606.1 |  |  | 170.5 |  |  | — |  |  | 776.6 |
Intercompany long-term receivable | 922.5 |  |  | 158.6 |  |  | 899.6 |  |  | (1,980.7 | ) |  | — |
Intercompany accounts receivable | — |  |  | 1,415.0 |  |  | 1,677.5 |  |  | (3,092.5 | ) |  | — |
Other non-current assets | 46.6 |  |  | 4.2 |  |  | 98.5 |  |  | — |  |  | 149.3 |
Investment in affiliates | 5,164.1 |  |  | 3,453.5 |  |  | — |  |  | (8,617.6 | ) |  | — |
Total assets | $ | 6,250.2 |  |  | $ | 7,320.1 |  |  | $ | 4,294.8 |  |  | $ | (13,713.9 | ) |  | $ | 4,151.2 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 88.3 |  |  | $ | 400.7 |  |  | $ | 389.2 |  |  | $ | — |  |  | $ | 878.2 |
Short-term borrowings and current portion of long-term debt | 32.5 |  |  | 0.7 |  |  | 63.0 |  |  | — |  |  | 96.2 |
Intercompany interest payable | 3.1 |  |  | — |  |  | 20.0 |  |  | (23.1 | ) |  | — |
Product warranties | — |  |  | 46.1 |  |  | 36.0 |  |  | — |  |  | 82.1 |
Customer advances | — |  |  | 7.2 |  |  | 17.8 |  |  | — |  |  | 25.0 |
Product liabilities | — |  |  | 23.3 |  |  | 5.3 |  |  | — |  |  | 28.6 |
Total current liabilities | 123.9 |  |  | 478.0 |  |  | 531.3 |  |  | (23.1 | ) |  | 1,110.1 |
Non-Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, less current portion | 1,776.1 |  |  | 2.6 |  |  | 22.2 |  |  | — |  |  | 1,800.9 |
Deferred income taxes | 179.8 |  |  | — |  |  | 46.3 |  |  | — |  |  | 226.1 |
Pension obligations | 81.5 |  |  | 11.8 |  |  | 20.2 |  |  | — |  |  | 113.5 |
Postretirement health and other benefit obligations | 49.6 |  |  | — |  |  | 3.5 |  |  | — |  |  | 53.1 |
Long-term deferred revenue | — |  |  | 10.4 |  |  | 30.9 |  |  | — |  |  | 41.3 |
Intercompany long-term note payable | 183.2 |  |  | 829.8 |  |  | 967.7 |  |  | (1,980.7 | ) |  | — |
Intercompany accounts payable | 3,092.5 |  |  | — |  |  | — |  |  | (3,092.5 | ) |  | — |
Other non-current liabilities | 99.5 |  |  | 15.1 |  |  | 51.9 |  |  | — |  |  | 166.5 |
Total non-current liabilities | 5,462.2 |  |  | 869.7 |  |  | 1,142.7 |  |  | (5,073.2 | ) |  | 2,401.4 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manitowoc stockholders’ equity | 664.1 |  |  | 5,972.4 |  |  | 2,645.2 |  |  | (8,617.6 | ) |  | 664.1 |
Noncontrolling interest | — |  |  | — |  |  | (24.4 | ) |  | — |  |  | (24.4 | )
Total equity | 664.1 |  |  | 5,972.4 |  |  | 2,620.8 |  |  | (8,617.6 | ) |  | 639.7 |
Total liabilities and equity | $ | 6,250.2 |  |  | $ | 7,320.1 |  |  | $ | 4,294.8 |  |  | $ | (13,713.9 | ) |  | $ | 4,151.2 |
The Manitowoc Company, Inc. Condensed Consolidating Balance Sheet as of December 31, 2012 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 12.0 |  |  | $ | 4.0 |  |  | $ | 57.4 |  |  | $ | — |  |  | $ | 73.4 |
Marketable securities | 2.7 |  |  | — |  |  | — |  |  | — |  |  | 2.7 |
Restricted cash | 5.3 |  |  | — |  |  | 5.3 |  |  | — |  |  | 10.6 |
Accounts receivable — net | 0.4 |  |  | 29.0 |  |  | 303.3 |  |  | — |  |  | 332.7 |
Intercompany interest receivable | 4.1 |  |  | 3.2 |  |  | — |  |  | (7.3 | ) |  | — |
Inventories — net | — |  |  | 338.3 |  |  | 369.3 |  |  | — |  |  | 707.6 |
Deferred income taxes | 70.9 |  |  | — |  |  | 18.1 |  |  | — |  |  | 89.0 |
Other current assets | 3.8 |  |  | 3.5 |  |  | 107.9 |  |  | (10.0 | ) |  | 105.2 |
Current assets of discontinued operations | — |  |  | — |  |  | 6.8 |  |  | — |  |  | 6.8 |
Total current assets | 99.2 |  |  | 378.0 |  |  | 868.1 |  |  | (17.3 | ) |  | 1,328.0 |
Property, plant and equipment — net | 6.8 |  |  | 271.3 |  |  | 278.0 |  |  | — |  |  | 556.1 |
Goodwill | — |  |  | 969.1 |  |  | 241.6 |  |  | — |  |  | 1,210.7 |
Other intangible assets — net | — |  |  | 620.9 |  |  | 175.5 |  |  | — |  |  | 796.4 |
Intercompany long-term notes receivable | 928.6 |  |  | 158.6 |  |  | 897.5 |  |  | (1,984.7 | ) |  | — |
Intercompany accounts receivable | — |  |  | 924.1 |  |  | 1,260.3 |  |  | (2,184.4 | ) |  | — |
Other non-current assets | 49.3 |  |  | 4.5 |  |  | 76.5 |  |  | — |  |  | 130.3 |
Long-term assets of discontinued operations | — |  |  | — |  |  | 35.8 |  |  | — |  |  | 35.8 |
Investment in affiliates | 4,985.4 |  |  | 3,443.6 |  |  | — |  |  | (8,429.0 | ) |  | — |
Total assets | $ | 6,069.3 |  |  | $ | 6,770.1 |  |  | $ | 3,833.3 |  |  | $ | (12,615.4 | ) |  | $ | 4,057.3 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 93.6 |  |  | $ | 410.6 |  |  | $ | 408.7 |  |  | $ | — |  |  | $ | 912.9 |
Short-term borrowings and current portion of long-term debt | 45.2 |  |  | 0.7 |  |  | 56.9 |  |  | (10.0 | ) |  | 92.8 |
Intercompany interest payable | 3.2 |  |  | — |  |  | 4.1 |  |  | (7.3 | ) |  | — |
Product warranties | — |  |  | 44.5 |  |  | 37.6 |  |  | — |  |  | 82.1 |
Customer advances | — |  |  | 7.8 |  |  | 16.4 |  |  | — |  |  | 24.2 |
Product liabilities | — |  |  | 23.5 |  |  | 4.4 |  |  | — |  |  | 27.9 |
Current liabilities of discontinued operation | — |  |  | — |  |  | 6.0 |  |  | — |  |  | 6.0 |
Total current liabilities | 142.0 |  |  | 487.1 |  |  | 534.1 |  |  | (17.3 | ) |  | 1,145.9 |
Non-Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, less current portion | 1,708.3 |  |  | 3.0 |  |  | 20.7 |  |  | — |  |  | 1,732.0 |
Deferred income taxes | 176.0 |  |  | — |  |  | 47.0 |  |  | — |  |  | 223.0 |
Pension obligations | 80.0 |  |  | 12.2 |  |  | 22.1 |  |  | — |  |  | 114.3 |
Postretirement health and other benefit obligations | 49.8 |  |  | — |  |  | 3.6 |  |  | — |  |  | 53.4 |
Long-term deferred revenue | — |  |  | 6.0 |  |  | 31.7 |  |  | — |  |  | 37.7 |
Intercompany long-term note payable | 183.3 |  |  | 827.5 |  |  | 973.9 |  |  | (1,984.7 | ) |  | — |
Intercompany accounts payable | 3,024.9 |  |  | — |  |  | 57.9 |  |  | (3,082.8 | ) |  | — |
Other non-current liabilities | 104.7 |  |  | 15.6 |  |  | 40.8 |  |  | — |  |  | 161.1 |
Long-term liabilities of discontinued operations | — |  |  | — |  |  | 8.6 |  |  | — |  |  | 8.6 |
Total non-current liabilities | 5,327.0 |  |  | 864.3 |  |  | 1,206.3 |  |  | (5,067.5 | ) |  | 2,330.1 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manitowoc stockholders' equity | 600.3 |  |  | 5,418.7 |  |  | 2,111.9 |  |  | (7,530.6 | ) |  | 600.3 |
Noncontrolling interest | — |  |  | — |  |  | (19.0 | ) |  | — |  |  | (19.0 | )
Total equity | 600.3 |  |  | 5,418.7 |  |  | 2,092.9 |  |  | (7,530.6 | ) |  | 581.3 |
Total liabilities and equity | $ | 6,069.3 |  |  | $ | 6,770.1 |  |  | $ | 3,833.3 |  |  | $ | (12,615.4 | ) |  | $ | 4,057.3 |
Condensed Consolidating Statement of Cash Flows | The Manitowoc Company, Inc. Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2013 (In millions)
| Parent |  | Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used for) operating activities of continuing operations | $ | (37.8 | ) |  | $ | 45.4 |  |  | $ | (66.1 | ) |  | $ | — |  |  | $ | (58.5 | )
Cash provided by (used for) operating activities of discontinued operations | — |  |  | (2.2 | ) |  | (1.8 | ) |  | — |  |  | (4.0 | )
Net cash provided by (used for) operating activities | $ | (37.8 | ) |  | $ | 43.2 |  |  | $ | (67.9 | ) |  | $ | — |  |  | $ | (62.5 | )
Cash Flows from Investing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | — |  |  | $ | (27.2 | ) |  | $ | (19.7 | ) |  | $ | — |  |  | $ | (46.9 | )
Proceeds from sale of property, plant and equipment | — |  |  | 0.2 |  |  | 0.7 |  |  | — |  |  | 0.9 |
Restricted cash | — |  |  | — |  |  | (0.2 | ) |  | — |  |  | (0.2 | )
Proceeds from sale of business | — |  |  | — |  |  | 39.2 |  |  | — |  |  | 39.2 |
Intercompany investments | (45.3 | ) |  | 1.6 |  |  | 61.3 |  |  | (17.6 | ) |  | — |
Net cash provided by (used for) investing activities | (45.3 | ) |  | (25.4 | ) |  | 81.3 |  |  | (17.6 | ) |  | (7.0 | )
Cash Flows from Financing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments on long-term debt | $ | (28.4 | ) |  | $ | (0.3 | ) |  | $ | (10.1 | ) |  | $ | — |  |  | $ | (38.8 | )
Proceeds from long-term debt | — |  |  | — |  |  | 19.3 |  |  | — |  |  | 19.3 |
Proceeds on revolving credit facility—net | 103.9 |  |  | — |  |  | 0.2 |  |  | — |  |  | 104.1 |
Proceeds (payments) on notes financing—net | — |  |  | — |  |  | 2.3 |  |  | — |  |  | 2.3 |
Exercises of stock options | 2.9 |  |  | — |  |  | — |  |  | — |  |  | 2.9 |
Intercompany financing | — |  |  | (11.3 | ) |  | (6.3 | ) |  | 17.6 |  |  | — |
Net cash provided by (used for) financing activities | 78.4 |  |  | (11.6 | ) |  | 5.4 |  |  | 17.6 |  |  | 89.8 |
Effect of exchange rate changes on cash | — |  |  | — |  |  | (2.0 | ) |  | — |  |  | (2.0 | )
Net increase (decrease) in cash and cash equivalents | (4.7 | ) |  | 6.2 |  |  | 16.8 |  |  | — |  |  | 18.3 |
Balance at beginning of period | 12.0 |  |  | 4.0 |  |  | 57.4 |  |  | — |  |  | 73.4 |
Balance at end of period | $ | 7.3 |  |  | $ | 10.2 |  |  | $ | 74.2 |  |  | $ | — |  |  | $ | 91.7 |
The Manitowoc Company, Inc. Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2012 (In millions)
| Parent |  | Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by (used for) operating activities of continuing operations | $ | (27.8 | ) |  | $ | 52.1 |  |  | $ | (147.7 | ) |  | $ | — |  |  | $ | (123.4 | )
Cash provided by (used for) operating activities of discontinued operations | — |  |  | (0.5 | ) |  | 2.1 |  |  | — |  |  | 1.6 |
Net cash provided by (used for) operating activities | $ | (27.8 | ) |  | $ | 51.6 |  |  | $ | (145.6 | ) |  | $ | — |  |  | $ | (121.8 | )
Cash Flows from Investing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | (0.5 | ) |  | $ | (17.0 | ) |  | $ | (17.2 | ) |  | $ | — |  |  | $ | (34.7 | )
Proceeds from sale of property, plant and equipment | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Restricted cash | — |  |  | — |  |  | (3.0 | ) |  | — |  |  | (3.0 | )
Intercompany investments | (60.8 | ) |  | (73.5 | ) |  | 96.8 |  |  | 37.5 |  |  | — |
Net cash provided by (used for) investing activities of continuing operations | (61.3 | ) |  | (90.5 | ) |  | 76.8 |  |  | 37.5 |  |  | (37.5 | )
Net cash provided by (used for) investing activities of discontinued operations | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Net cash provided by (used for) investing activities | $ | (61.3 | ) |  | $ | (90.5 | ) |  | $ | 76.7 |  |  | $ | 37.5 |  |  | $ | (37.6 | )
Cash Flows from Financing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments on long-term debt | $ | (18.9 | ) |  | $ | (0.3 | ) |  | $ | (29.1 | ) |  | $ | — |  |  | $ | (48.3 | )
Proceeds from long-term debt | — |  |  | — |  |  | 64.9 |  |  | — |  |  | 64.9 |
Proceeds from (payments on) revolving credit facility—net | 107.9 |  |  | — |  |  | 40.9 |  |  | — |  |  | 148.8 |
Proceeds from (payments on) notes financing—net | (0.1 | ) |  | (1.3 | ) |  | (17.3 | ) |  | — |  |  | (18.7 | )
Exercises of stock options | 1.6 |  |  | — |  |  | — |  |  | — |  |  | 1.6 |
Intercompany financing | 0.1 |  |  | 46.8 |  |  | (9.4 | ) |  | (37.5 | ) |  | — |
Net cash provided by (used for) financing activities | 90.6 |  |  | 45.2 |  |  | 50.0 |  |  | (37.5 | ) |  | 148.3 |
Effect of exchange rate changes on cash | — |  |  | — |  |  | (0.7 | ) |  | — |  |  | (0.7 | )
Net increase (decrease) in cash and cash equivalents | 1.5 |  |  | 6.3 |  |  | (19.6 | ) |  | — |  |  | (11.8 | )
Balance at beginning of period | 4.2 |  |  | 8.5 |  |  | 55.9 |  |  | — |  |  | 68.6 |
Balance at end of period | $ | 5.7 |  |  | $ | 14.8 |  |  | $ | 36.3 |  |  | $ | — |  |  | $ | 56.8 |

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