XML 25 R104.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsidiary Guarantors of Senior Notes due 2018, Senior Notes due 2020 and Senior Notes due 2022 (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Condensed Consolidating Statement of Operations                      
Net sales $ 1,104.3 $ 1,012.1 $ 1,037.1 $ 894.6 $ 1,128.1 $ 946.3 $ 993.1 $ 845.8 $ 4,048.1 $ 3,913.3 $ 3,589.3
Costs and expenses:                      
Cost of sales                 3,026.3 2,970.3 2,756.4
Engineering, selling and administrative expenses                 617.6 597.6 561.0
Amortization expense                 35.3 36.5 37.4
Restructuring expense                 4.8 9.5 5.5
Other expense                   2.5  
Other income                 (0.3)   (0.5)
Equity in (earnings) loss of subsidiaries                 0 0 0
Total costs and expenses                 3,683.7 3,616.4 3,359.8
Operating earnings from continuing operations                 364.4 296.9 229.5
Other income (expense):                      
Interest expense                 (128.4) (135.6) (145.4)
Amortization of deferred financing fees                 (7.0) (8.2) (10.4)
Loss on early debt extinguishment                 (3.0) (6.3) (29.7)
Management fee income (expense)                 0 0 0
Other income (expense)-net                 (0.8) 0.1 2.3
Total other expenses                 (139.2) (150.0) (183.2)
Earnings from continuing operations before taxes on earnings 60.7 70.8 71.4 22.3 34.1 37.4 62.3 13.1 225.2 146.9 46.3
Provision for taxes on earnings                 36.1 38.0 13.6
Earnings (loss) from continuing operations                 189.1 108.9 32.7
Discontinued operations:                      
Loss from discontinued operations, net of income taxes (3.9) (3.2) (7.6) (4.1) (4.4) (4.2) (3.8) (3.9) (18.8) (16.3) (15.8)
Loss on sale of discontinued operations, net of income taxes (1.1) 0 0 (1.6) 0 0 0 0 (2.7) 0 (34.6)
Net earnings (loss) 54.4 50.6 54.5 8.1 32.1 19.7 43.0 (2.2) 167.6 92.6 (17.7)
Less: Net earnings (loss) attributable to noncontrolling interest 33.5 (2.3) (3.1) (2.3) (2.4) (2.5) (2.3) (1.9) 25.8 (9.1) (6.5)
Net earnings (loss) attributable to Manitowoc 20.9 52.9 57.6 10.4 34.5 22.2 45.3 (0.3) 141.8 101.7 (11.2)
Comprehensive income (loss) attributable to Manitowoc                 164.3 97.1 (36.1)
Parent
                     
Condensed Consolidating Statement of Operations                      
Net sales                 0 0 0
Costs and expenses:                      
Cost of sales                 0 0 0
Engineering, selling and administrative expenses                 61.4 61.2 58.9
Amortization expense                 0 0 0
Restructuring expense                 0 0 0
Other expense                 0 0 0
Equity in (earnings) loss of subsidiaries                 (199.6) (167.2) (70.4)
Total costs and expenses                 (138.2) (106.0) (11.5)
Operating earnings from continuing operations                 138.2 106.0 11.5
Other income (expense):                      
Interest expense                 (118.8) (122.9) (132.9)
Amortization of deferred financing fees                 (7.0) (8.2) (10.4)
Loss on early debt extinguishment                 (3.0) (6.3) (29.7)
Management fee income (expense)                 59.6 60.1 55.0
Other income (expense)-net                 (3.6) 16.5 40.6
Total other expenses                 (72.8) (60.8) (77.4)
Earnings from continuing operations before taxes on earnings                 65.4 45.2 (65.9)
Provision for taxes on earnings                 (76.4) (56.5) (54.7)
Earnings (loss) from continuing operations                 141.8 101.7 (11.2)
Discontinued operations:                      
Loss from discontinued operations, net of income taxes                 0 0 0
Loss on sale of discontinued operations, net of income taxes                 0   0
Net earnings (loss)                 141.8 101.7 (11.2)
Less: Net earnings (loss) attributable to noncontrolling interest                 0 0 0
Net earnings (loss) attributable to Manitowoc                 141.8 101.7 (11.2)
Comprehensive income (loss) attributable to Manitowoc                 164.3 97.1 (36.1)
Guarantor Subsidiaries
                     
Condensed Consolidating Statement of Operations                      
Net sales                 2,631.3 2,616.4 2,166.0
Costs and expenses:                      
Cost of sales                 2,038.1 2,022.3 1,681.5
Engineering, selling and administrative expenses                 259.5 247.6 231.1
Amortization expense                 29.6 29.9 29.9
Restructuring expense                 0.7 0.7 0.5
Other expense                 0.5 2.5 0.7
Equity in (earnings) loss of subsidiaries                 (32.5) (36.0) (32.4)
Total costs and expenses                 2,295.9 2,267.0 1,911.3
Operating earnings from continuing operations                 335.4 349.4 254.7
Other income (expense):                      
Interest expense                 (1.0) (2.1) (1.5)
Amortization of deferred financing fees                 0 0 0
Loss on early debt extinguishment                 0 0 0
Management fee income (expense)                 (77.1) (77.8) (68.0)
Other income (expense)-net                 (32.6) (45.9) (69.7)
Total other expenses                 (110.7) (125.8) (139.2)
Earnings from continuing operations before taxes on earnings                 224.7 223.6 115.5
Provision for taxes on earnings                 69.3 69.2 32.5
Earnings (loss) from continuing operations                 155.4 154.4 83.0
Discontinued operations:                      
Loss from discontinued operations, net of income taxes                 (2.3) (0.9) (1.5)
Loss on sale of discontinued operations, net of income taxes                 0   (34.6)
Net earnings (loss)                 153.1 153.5 46.9
Less: Net earnings (loss) attributable to noncontrolling interest                 0 0 0
Net earnings (loss) attributable to Manitowoc                 153.1 153.5 46.9
Comprehensive income (loss) attributable to Manitowoc                 154.1 153.7 47.1
Non-Guarantor Subsidiaries
                     
Condensed Consolidating Statement of Operations                      
Net sales                 2,097.1 1,959.0 1,908.9
Costs and expenses:                      
Cost of sales                 1,668.5 1,610.1 1,560.5
Engineering, selling and administrative expenses                 296.7 288.8 271.0
Amortization expense                 5.7 6.6 7.5
Restructuring expense                 4.1 8.8 5.0
Other expense                   0  
Other income                 (0.8)   (1.2)
Equity in (earnings) loss of subsidiaries                 0 0 0
Total costs and expenses                 1,974.2 1,914.3 1,842.8
Operating earnings from continuing operations                 122.9 44.7 66.1
Other income (expense):                      
Interest expense                 (8.6) (10.6) (11.0)
Amortization of deferred financing fees                 0 0 0
Loss on early debt extinguishment                 0 0 0
Management fee income (expense)                 17.5 17.7 13.0
Other income (expense)-net                 35.4 29.5 31.4
Total other expenses                 44.3 36.6 33.4
Earnings from continuing operations before taxes on earnings                 167.2 81.3 99.5
Provision for taxes on earnings                 43.2 25.3 35.8
Earnings (loss) from continuing operations                 124.0 56.0 63.7
Discontinued operations:                      
Loss from discontinued operations, net of income taxes                 (16.5) (15.4) (14.3)
Loss on sale of discontinued operations, net of income taxes                 (2.7)   0
Net earnings (loss)                 104.8 40.6 49.4
Less: Net earnings (loss) attributable to noncontrolling interest                 25.8 (9.1) (6.5)
Net earnings (loss) attributable to Manitowoc                 79.0 49.7 55.9
Comprehensive income (loss) attributable to Manitowoc                 62.9 51.9 51.1
Eliminations
                     
Condensed Consolidating Statement of Operations                      
Net sales                 (680.3) (662.1) (485.6)
Costs and expenses:                      
Cost of sales                 (680.3) (662.1) (485.6)
Engineering, selling and administrative expenses                 0 0 0
Amortization expense                 0 0 0
Restructuring expense                 0 0 0
Other expense                 0 0 0
Equity in (earnings) loss of subsidiaries                 232.1 203.2 102.8
Total costs and expenses                 (448.2) (458.9) (382.8)
Operating earnings from continuing operations                 (232.1) (203.2) (102.8)
Other income (expense):                      
Interest expense                 0 0 0
Amortization of deferred financing fees                 0 0 0
Loss on early debt extinguishment                 0 0 0
Management fee income (expense)                 0 0 0
Other income (expense)-net                 0 0 0
Total other expenses                 0 0 0
Earnings from continuing operations before taxes on earnings                 (232.1) (203.2) (102.8)
Provision for taxes on earnings                 0 0 0
Earnings (loss) from continuing operations                 (232.1) (203.2) (102.8)
Discontinued operations:                      
Loss from discontinued operations, net of income taxes                 0 0 0
Loss on sale of discontinued operations, net of income taxes                 0   0
Net earnings (loss)                 (232.1) (203.2) (102.8)
Less: Net earnings (loss) attributable to noncontrolling interest                 0 0 0
Net earnings (loss) attributable to Manitowoc                 (232.1) (203.2) (102.8)
Comprehensive income (loss) attributable to Manitowoc                 $ (217.0) $ (205.6) $ (98.2)