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Subsidiary Guarantors of Senior Notes due 2018, Senior Notes due 2020 and Senior Notes due 2022
 12 Months Ended
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Subsidiary Guarantors of Senior Notes due 2018, Senior Notes due 2020 and Senior Notes due 2022
Subsidiary Guarantors of Senior Notes due 2020 and Senior Notes due 2022
The following tables present condensed consolidating financial information for (a) The Manitowoc Company, Inc. (Parent); (b) the guarantors of the Senior Notes due 2020 and the Senior Notes due 2022 which include substantially all of the domestic, 100% owned subsidiaries of the company (Subsidiary Guarantors); and (c) the wholly and partially owned foreign subsidiaries of the Parent, which do not guarantee the Senior Notes due 2020 and the Senior Notes due 2022 (Non-Guarantor Subsidiaries).  Separate financial statements of the Subsidiary Guarantors are not presented because the guarantors are fully and unconditionally, jointly and severally liable under the guarantees, except for normal and customary release provisions.
The Manitowoc Company, Inc.
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2014
(In millions)
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
2,424.5

 
$
2,076.1

 
$
(614.1
)
 
$
3,886.5

Costs and expenses:
 

 
 

 
 

 
 

 
 

Cost of sales
—

 
1,889.9

 
1,624.6

 
(614.1
)
 
2,900.4

Engineering, selling and administrative expenses
49.8

 
287.4

 
304.4

 
—

 
641.6

Asset impairment expense
—

 
1.1

 
—

 
—

 
1.1

Amortization expense
—

 
29.6

 
5.5

 
—

 
35.1

Restructuring expense
—

 
3.0

 
6.0

 
—

 
9.0

Other expense
—

 
0.3

 
0.2

 
—

 
0.5

Equity in (earnings) loss of subsidiaries
(165.6
)
 
(73.5
)
 
—

 
239.1

 
—

Total costs and expenses
(115.8
)
 
2,137.8

 
1,940.7

 
(375.0
)
 
3,587.7

Operating earnings (loss) from continuing operations
115.8

 
286.7

 
135.4

 
(239.1
)
 
298.8

Other (expense) income :
 

 
 

 
 

 
 

 
 

Interest expense
(83.8
)
 
(1.9
)
 
(8.3
)
 
—

 
(94.0
)
Amortization of deferred financing fees
(4.4
)
 
—

 
—

 
—

 
(4.4
)
Loss on debt extinguishment
(25.5
)
 
—

 
—

 
—

 
(25.5
)
Management fee income (expense)
62.4

 
(72.6
)
 
10.2

 
—

 
—

Other income (expense) - net
16.5

 
59.2

 
(0.5
)
 
(80.7
)
 
(5.5
)
Total other (expense) income
(34.8
)
 
(15.3
)
 
1.4

 
(80.7
)
 
(129.4
)
Earnings (loss) from continuing operations before taxes on earnings
81.0

 
271.4

 
136.8

 
(319.8
)
 
169.4

(Benefit) provision for taxes on earnings
(63.5
)
 
45.3

 
26.8

 
—

 
8.6

Earnings (loss) from continuing operations
144.5

 
226.1

 
110.0

 
(319.8
)
 
160.8

Discontinued operations:
 

 
 

 
 

 
 

 
 

Loss from discontinued operations, net of income taxes
—

 
(0.5
)
 
(0.9
)
 
—

 
(1.4
)
Loss on sale of discontinued operations, net of income taxes
—

 
—

 
(11.0
)
 
—

 
(11.0
)
Net earnings (loss)
144.5

 
225.6

 
98.1

 
(319.8
)
 
148.4

Less: Net earnings attributable to noncontrolling interest
—

 
—

 
3.9

 
—

 
3.9

Net earnings (loss) attributable to Manitowoc
$
144.5

 
$
225.6

 
$
94.2

 
$
(319.8
)
 
$
144.5

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss) attributable to Manitowoc
$
20.9

 
$
217.8

 
$
86.0

 
$
(303.8
)
 
$
20.9


The Manitowoc Company, Inc.
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2013
(In millions)
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
2,631.3

 
$
2,097.1

 
$
(680.3
)
 
$
4,048.1

Costs and expenses:
 

 
 

 
 

 
 

 
 

Cost of sales
—

 
2,038.1

 
1,668.5

 
(680.3
)
 
3,026.3

Engineering, selling and administrative expenses
61.4

 
259.5

 
296.7

 
—

 
617.6

Amortization expense
—

 
29.6

 
5.7

 
—

 
35.3

Restructuring expense
—

 
0.7

 
4.1

 
—

 
4.8

Other expense (income)
—

 
0.5

 
(0.8
)
 
—

 
(0.3
)
Equity in (earnings) loss of subsidiaries
(199.6
)
 
(32.5
)
 
—

 
232.1

 
—

Total costs and expenses
(138.2
)
 
2,295.9

 
1,974.2

 
(448.2
)
 
3,683.7

Operating earnings (loss) from continuing operations
138.2

 
335.4

 
122.9

 
(232.1
)
 
364.4

Other (expense) income:
 

 
 

 
 

 
 

 
 

Interest expense
(118.8
)
 
(1.0
)
 
(8.6
)
 
—

 
(128.4
)
Amortization of deferred financing fees
(7.0
)
 
—

 
—

 
—

 
(7.0
)
Loss on debt extinguishment
(3.0
)
 
—

 
—

 
—

 
(3.0
)
Management fee income (expense)
59.6

 
(77.1
)
 
17.5

 
—

 
—

Other (expense) income - net
(3.6
)
 
(32.6
)
 
35.4

 
—

 
(0.8
)
Total other (expense) income
(72.8
)
 
(110.7
)
 
44.3

 
—

 
(139.2
)
Earnings (loss) from continuing operations before taxes on earnings
65.4

 
224.7

 
167.2

 
(232.1
)
 
225.2

(Benefit) provision for taxes on earnings
(76.4
)
 
69.3

 
43.2

 
—

 
36.1

Earnings (loss) from continuing operations
141.8

 
155.4

 
124.0

 
(232.1
)
 
189.1

Discontinued operations:
 

 
 

 
 

 
 

 
 

Loss from discontinued operations, net of income taxes
—

 
(2.3
)
 
(16.5
)
 
—

 
(18.8
)
Loss on sale of discontinued operations, net of income taxes
—

 
—

 
(2.7
)
 
—

 
(2.7
)
Net earnings (loss)
141.8

 
153.1

 
104.8

 
(232.1
)
 
167.6

Less: Net earnings attributable to noncontrolling interest
—

 
—

 
25.8

 
—

 
25.8

Net earnings (loss) attributable to Manitowoc
$
141.8

 
$
153.1

 
$
79.0

 
$
(232.1
)
 
$
141.8

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss) attributable to Manitowoc
$
164.3

 
$
154.1

 
$
62.9

 
$
(217.0
)
 
$
164.3


The Manitowoc Company, Inc.
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2012
(In millions)
 
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net sales
$
—

 
$
2,616.4

 
$
1,959.0

 
$
(662.1
)
 
$
3,913.3

Costs and expenses:
 

 
 

 
 

 
 

 
 

Cost of sales
—

 
2,022.3

 
1,610.1

 
(662.1
)
 
2,970.3

Engineering, selling and administrative expenses
61.2

 
247.6

 
288.8

 
—

 
597.6

Amortization expense
—

 
29.9

 
6.6

 
—

 
36.5

Restructuring expense
—

 
0.7

 
8.8

 
—

 
9.5

Other expense
—

 
2.5

 
—

 
—

 
2.5

Equity in (earnings) loss of subsidiaries
(167.2
)
 
(36.0
)
 
—

 
203.2

 
—

Total costs and expenses
(106.0
)
 
2,267.0

 
1,914.3

 
(458.9
)
 
3,616.4

Operating earnings (loss) from continuing operations
106.0

 
349.4

 
44.7

 
(203.2
)
 
296.9

Other (expense) income:
 

 
 

 
 

 
 

 
 

Interest expense
(122.9
)
 
(2.1
)
 
(10.6
)
 
—

 
(135.6
)
Amortization of deferred financing fees
(8.2
)
 
—

 
—

 
—

 
(8.2
)
Loss on debt extinguishment
(6.3
)
 
—

 
—

 
—

 
(6.3
)
Management fee income (expense)
60.1

 
(77.8
)
 
17.7

 
—

 
—

Other income (expense) - net
16.5

 
(45.9
)
 
29.5

 
—

 
0.1

Total other (expense) income
(60.8
)
 
(125.8
)
 
36.6

 
—

 
(150.0
)
Earnings (loss) from continuing operations before taxes on earnings
45.2

 
223.6

 
81.3

 
(203.2
)
 
146.9

(Benefit) provision for taxes on earnings
(56.5
)
 
69.2

 
25.3

 
—

 
38.0

Earnings (loss) from continuing operations
101.7

 
154.4

 
56.0

 
(203.2
)
 
108.9

Discontinued operations:
 

 
 

 
 

 
 

 
 

Loss from discontinued operations, net of income taxes
—

 
(0.9
)
 
(15.4
)
 
—

 
(16.3
)
Net earnings (loss)
101.7

 
153.5

 
40.6

 
(203.2
)
 
92.6

Less: Net loss attributable to noncontrolling interest
—

 
—

 
(9.1
)
 
—

 
(9.1
)
Net earnings (loss) attributable to Manitowoc
$
101.7

 
$
153.5

 
$
49.7

 
$
(203.2
)
 
$
101.7

 
 
 
 
 
 
 
 
 
 
Comprehensive income (loss) attributable to Manitowoc
$
97.1

 
$
153.7

 
$
51.9

 
$
(205.6
)
 
$
97.1

The Manitowoc Company, Inc.
Condensed Consolidating Balance Sheet
as of December 31, 2014
(In millions)
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 

 
 

 
 

 
 

 
 

Current Assets:
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
1.6

 
$
3.3

 
$
63.1

 
$
—

 
$
68.0

Restricted cash
2.8

 
—

 
20.9

 
—

 
23.7

Accounts receivable — net
0.1

 
—

 
233.6

 
(6.3
)
 
227.4

Intercompany short term note receivable
—

 
—

 
201.7

 
(201.7
)
 
—

Intercompany interest receivable
41.5

 
3.2

 
—

 
(44.7
)
 
—

Inventories — net
—

 
306.3

 
338.2

 
—

 
644.5

Deferred income taxes
67.1

 
—

 
4.2

 
—

 
71.3

Other current assets
3.6

 
6.7

 
140.9

 
—

 
151.2

Current assets of discontinued operation
—

 
—

 
—

 
—

 
—

Total current assets
116.7

 
319.5

 
1,002.6

 
(252.7
)
 
1,186.1

Property, plant and equipment — net
7.7

 
325.8

 
257.5

 
—

 
591.0

Goodwill
—

 
960.5

 
237.6

 
—

 
1,198.1

Other intangible assets — net
—

 
561.6

 
153.1

 
—

 
714.7

Intercompany long-term notes receivable
892.5

 
195.3

 
851.3

 
(1,939.1
)
 
—

Intercompany accounts receivable
—

 
1,619.7

 
796.8

 
(2,416.5
)
 
—

Other non-current assets
66.7

 
3.1

 
56.9

 
—

 
126.7

Long-term assets of discontinued operation
—

 
—

 
—

 
—

 
—

Investment in affiliates
4,423.6

 
3,629.4

 
—

 
(8,053.0
)
 
—

Total assets
$
5,507.2

 
$
7,614.9

 
$
3,355.8

 
$
(12,661.3
)
 
$
3,816.6

Liabilities and Equity
 

 
 

 
 

 
 

 
 

Current Liabilities:
 

 
 

 
 

 
 

 
 

Accounts payable and accrued expenses
$
27.1

 
$
420.8

 
$
365.8

 
$
(6.3
)
 
$
807.4

Short-term borrowings and current portion of long-term debt
24.1

 
2.8

 
53.4

 
—

 
80.3

Intercompany short term note payable
201.7

 
—

 
—

 
(201.7
)
 
—

Intercompany interest payable
3.2

 
—

 
41.5

 
(44.7
)
 
—

Product warranties
—

 
45.2

 
32.5

 
—

 
77.7

Customer advances
—

 
7.3

 
14.0

 
—

 
21.3

Product liabilities
—

 
22.1

 
2.5

 
—

 
24.6

Current liabilities of discontinued operation
—

 
—

 
—

 
—

 
—

Total current liabilities
256.1

 
498.2

 
509.7

 
(252.7
)
 
1,011.3

Non-Current Liabilities:
 

 
 

 
 

 
 

 
 

Long-term debt, less current portion
1,393.0

 
25.3

 
24.9

 
—

 
1,443.2

Deferred income taxes
165.2

 
—

 
21.0

 
—

 
186.2

Pension obligations
129.1

 
7.9

 
4.0

 
—

 
141.0

Postretirement health and other benefit obligations
49.5

 
2.1

 
1.5

 
—

 
53.1

Long-term deferred revenue
—

 
10.7

 
27.2

 
—

 
37.9

Intercompany long-term note payable
191.0

 
813.5

 
934.6

 
(1,939.1
)
 
—

Intercompany accounts payable
2,416.5

 
—

 
—

 
(2,416.5
)
 
—

Other non-current liabilities
82.7

 
11.5

 
25.6

 
—

 
119.8

Long-term liabilities of discontinued operation
—

 
—

 
—

 
—

 
—

Total non-current liabilities
4,427.0

 
871.0

 
1,038.8

 
(4,355.6
)
 
1,981.2

Equity
 

 
 

 
 

 
 

 
 

Manitowoc stockholders’ equity
824.1

 
6,245.7

 
1,807.3

 
(8,053.0
)
 
824.1

Noncontrolling interest
—

 
—

 
—

 
—

 
—

Total equity
824.1

 
6,245.7

 
1,807.3

 
(8,053.0
)
 
824.1

Total liabilities and equity
$
5,507.2

 
$
7,614.9

 
$
3,355.8

 
$
(12,661.3
)
 
$
3,816.6

The Manitowoc Company, Inc.
Condensed Consolidating Balance Sheet
as of December 31, 2013
(In millions)
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Assets
 

 
 

 
 

 
 

 
 

Current Assets:
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
1.2

 
$
3.3

 
$
50.4

 
$
—

 
$
54.9

Restricted cash
2.8

 
—

 
10.0

 
—

 
12.8

Accounts receivable — net
0.2

 
16.5

 
238.8

 
—

 
255.5

Intercompany short term note receivable
—

 
—

 
112.1

 
(112.1
)
 
—

Intercompany interest receivable
18.4

 
3.2

 
—

 
(21.6
)
 
—

Inventories — net
—

 
333.4

 
387.4

 
—

 
720.8

Deferred income taxes
73.2

 
—

 
16.7

 
—

 
89.9

Other current assets
3.4

 
5.9

 
104.6

 
—

 
113.9

Current assets of discontinued operations
—

 
—

 
15.1

 
—

 
15.1

Total current assets
99.2

 
362.3

 
935.1

 
(133.7
)
 
1,262.9

Property, plant and equipment — net
6.3

 
291.9

 
280.6

 
—

 
578.8

Goodwill
—

 
960.5

 
258.1

 
—

 
1,218.6

Other intangible assets — net
—

 
591.3

 
174.9

 
—

 
766.2

Intercompany long-term notes receivable
964.4

 
158.5

 
903.7

 
(2,026.6
)
 
—

Intercompany accounts receivable
—

 
1,565.2

 
1,848.8

 
(3,414.0
)
 
—

Other non-current assets
42.9

 
3.4

 
80.5

 
—

 
126.8

Long-term assets of discontinued operations
—

 
—

 
23.3

 
—

 
23.3

Investment in affiliates
5,356.2

 
3,505.6

 
—

 
(8,861.8
)
 
—

Total assets
$
6,469.0

 
$
7,438.7

 
$
4,505.0

 
$
(14,436.1
)
 
$
3,976.6

Liabilities and Equity
 

 
 

 
 

 
 

 
 

Current Liabilities:
 

 
 

 
 

 
 

 
 

Accounts payable and accrued expenses
$
108.1

 
$
404.2

 
$
423.3

 
$
—

 
$
935.6

Short-term borrowings and current portion of long-term debt
—

 
0.7

 
22.0

 
—

 
22.7

Intercompany short-term note payable
112.1

 
—

 
—

 
(112.1
)
 
—

Intercompany interest payable
3.2

 
—

 
18.4

 
(21.6
)
 
—

Product warranties
—

 
47.3

 
33.8

 
—

 
81.1

Customer advances
—

 
12.9

 
22.0

 
—

 
34.9

Product liabilities
—

 
21.2

 
3.8

 
—

 
25.0

Current liabilities of discontinued operations
—

 
—

 
26.1

 
—

 
26.1

Total current liabilities
223.4

 
486.3

 
549.4

 
(133.7
)
 
1,125.4

Non-Current Liabilities:
 

 
 

 
 

 
 

 
 

Long-term debt, less current portion
1,474.7

 
2.2

 
27.2

 
—

 
1,504.1

Deferred income taxes
165.2

 
—

 
49.1

 
—

 
214.3

Pension obligations
91.0

 
6.4

 
4.1

 
—

 
101.5

Postretirement health and other benefit obligations
40.6

 
2.1

 
2.0

 
—

 
44.7

Long-term deferred revenue
—

 
9.2

 
28.4

 
—

 
37.6

Intercompany long-term note payable
183.3

 
832.2

 
1,011.1

 
(2,026.6
)
 
—

Intercompany accounts payable
3,414.0

 
—

 
—

 
(3,414.0
)
 
—

Other non-current liabilities
101.3

 
15.6

 
47.6

 
—

 
164.5

Long-term liabilities of discontinued operations
—

 
—

 
2.2

 
—

 
2.2

Total non-current liabilities
5,470.1

 
867.7

 
1,171.7

 
(5,440.6
)
 
2,068.9

Equity
 

 
 

 
 

 
 

 
 

Manitowoc stockholders’ equity
775.5

 
6,084.7

 
2,777.1

 
(8,861.8
)
 
775.5

Noncontrolling interest
—

 
—

 
6.8

 
—

 
6.8

Total equity
775.5

 
6,084.7

 
2,783.9

 
(8,861.8
)
 
782.3

Total liabilities and equity
$
6,469.0

 
$
7,438.7

 
$
4,505.0

 
$
(14,436.1
)
 
$
3,976.6

The Manitowoc Company, Inc.
Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2014
(In millions)
 
 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash (used for) provided by operating activities of continuing operations
$
(124.3
)
 
$
243.4

 
$
67.0

 
$
(80.7
)
 
$
105.4

Cash used for operating activities of discontinued operations
—

 
(0.4
)
 
(6.7
)
 
—

 
(7.1
)
Net cash (used for) provided by operating activities
$
(124.3
)
 
$
243.0

 
$
60.3

 
$
(80.7
)
 
$
98.3

Cash Flows from Investing:
 

 
 

 
 

 
 

 
 

Capital expenditures
$
(2.2
)
 
$
(51.3
)
 
$
(31.3
)
 
$
—

 
$
(84.8
)
Proceeds from sale of property, plant and equipment
—

 
0.1

 
12.7

 
—

 
12.8

Restricted cash
—

 
—

 
(11.6
)
 
—

 
(11.6
)
Intercompany investments
77.4

 
(213.9
)
 
118.8

 
17.7

 
—

Net cash provided by (used for) investing activities
$
75.2

 
$
(265.1
)
 
$
88.6

 
$
17.7

 
$
(83.6
)
Cash Flows from Financing:
 

 
 

 
 

 
 

 
 

Payments on long-term debt
$
(607.7
)
 
$
(1.7
)
 
$
(29.3
)
 
$
—

 
$
(638.7
)
Proceeds from long-term debt
550.0

 
26.8

 
63.5

 
—

 
640.3

Payments on notes financing—net
—

 
—

 
(0.3
)
 
—

 
(0.3
)
Debt issue costs
(5.2
)
 
—

 
—

 
—

 
(5.2
)
Dividends paid
(10.8
)
 
—

 
(80.7
)
 
80.7

 
(10.8
)
Exercises of stock options including windfall tax benefits
25.9

 
—

 
—

 
—

 
25.9

Intercompany financing
97.3

 
(3.0
)
 
(76.6
)
 
(17.7
)
 
—

Net cash provided by (used for) financing activities of continuing operations
$
49.5

 
$
22.1

 
$
(123.4
)
 
$
63.0

 
$
11.2

Net cash used for financing activities of discontinued operations
$
—

 
$
—

 
$
(7.2
)
 
$
—

 
$
(7.2
)
Net cash provided by (used for) financing activities
$
49.5

 
$
22.1

 
$
(130.6
)
 
$
63.0

 
$
4.0

Effect of exchange rate changes on cash
—

 
—

 
(5.6
)
 
—

 
(5.6
)
Net increase in cash and cash equivalents
0.4

 
—

 
12.7

 
—

 
13.1

Balance at beginning of period
1.2

 
3.3

 
50.4

 
—

 
54.9

Balance at end of period
$
1.6

 
$
3.3

 
$
63.1

 
$
—

 
$
68.0

The Manitowoc Company, Inc.
Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2013
(In millions)
 
 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash (used for) provided by operating activities of continuing operations
$
(51.6
)
 
$
224.9

 
$
160.8

 
$
—

 
$
334.1

Cash used for operating activities of discontinued operations
—

 
(2.3
)
 
(8.7
)
 
—

 
(11.0
)
Net cash (used for) provided by operating activities
$
(51.6
)
 
$
222.6

 
$
152.1

 
$
—

 
$
323.1

Cash Flows from Investing:
 

 
 

 
 

 
 

 
 

Capital expenditures
$
(0.8
)
 
$
(57.4
)
 
$
(52.5
)
 
$
—

 
$
(110.7
)
Proceeds from sale of property, plant and equipment
—

 
2.0

 
2.1

 
—

 
4.1

Restricted cash
2.6

 
—

 
(4.6
)
 
—

 
(2.0
)
Business acquisitions, net of cash acquired
—

 
—

 
(12.2
)
 
—

 
(12.2
)
Proceeds from sale of business
—

 
—

 
39.2

 
—

 
39.2

Intercompany investments
197.1

 
(167.2
)
 
(169.3
)
 
139.4

 
—

Net cash provided by (used for) investing activities of continuing operations
198.9

 
(222.6
)
 
(197.3
)
 
139.4

 
(81.6
)
Net cash used for investing activities of discontinued operations
—

 
—

 
(0.6
)
 
—

 
(0.6
)
Net cash provided by (used for) investing activities
$
198.9

 
$
(222.6
)
 
$
(197.9
)
 
$
139.4

 
$
(82.2
)
Cash Flows from Financing:
 

 
 

 
 

 
 

 
 

Payments on long-term debt
$
(220.6
)
 
$
(0.7
)
 
$
(45.2
)
 
$
—

 
$
(266.5
)
Proceeds from long-term debt
—

 
—

 
43.0

 
—

 
43.0

(Payments on) proceeds from revolving credit facility—net
(34.5
)
 
—

 
0.1

 
—

 
(34.4
)
Proceeds from notes financing—net
—

 
—

 
6.6

 
—

 
6.6

Debt issue costs
(1.1
)
 
—

 
—

 
—

 
(1.1
)
Dividends paid
(10.7
)
 
—

 
—

 
—

 
(10.7
)
Exercises of stock options including windfall tax benefits
6.7

 
—

 
—

 
—

 
6.7

Intercompany financing
102.1

 
—

 
37.3

 
(139.4
)
 
—

Net cash (used for) provided by financing activities
$
(158.1
)
 
$
(0.7
)
 
$
41.8

 
$
(139.4
)
 
$
(256.4
)
Effect of exchange rate changes on cash
—

 
—

 
(2.8
)
 
—

 
(2.8
)
Net decrease in cash and cash equivalents
(10.8
)
 
(0.7
)
 
(6.8
)
 
—

 
(18.3
)
Balance at beginning of period
12.0

 
4.0

 
57.2

 
—

 
73.2

Balance at end of period
$
1.2

 
$
3.3

 
$
50.4

 
$
—

 
$
54.9


The Manitowoc Company, Inc.
Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2012
(In millions)
 
 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
Net cash (used for) provided by operating activities of continuing operations
$
(22.8
)
 
$
167.4

 
$
30.7

 
$
—

 
$
175.3

Cash used for operating activities of discontinued operations
—

 
(0.9
)
 
(12.0
)
 
—

 
(12.9
)
Net cash (used for) provided by operating activities
$
(22.8
)
 
$
166.5

 
$
18.7

 
$
—

 
$
162.4

Cash Flows from Investing:
 

 
 

 
 

 
 

 
 

Capital expenditures
$
(1.4
)
 
$
(36.5
)
 
$
(35.0
)
 
$
—

 
$
(72.9
)
Proceeds from sale of property, plant and equipment
—

 
—

 
0.8

 
—

 
0.8

Restricted cash
1.0

 
—

 
(4.3
)
 
—

 
(3.3
)
Intercompany investments
131.4

 
(175.4
)
 
(4.8
)
 
48.8

 
—

Net cash provided by (used for) investing activities of continuing operations
131.0

 
(211.9
)
 
(43.3
)
 
48.8

 
(75.4
)
Net cash used for investing activities of discontinued operations
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Net cash provided by (used for) investing activities
$
131.0

 
$
(211.9
)
 
$
(43.4
)
 
$
48.8

 
$
(75.5
)
Cash Flows from Financing:
 

 
 

 
 

 
 

 
 

Payments on long-term debt
$
(439.7
)
 
$
(0.7
)
 
$
(55.0
)
 
$
—

 
$
(495.4
)
Proceeds from long-term debt
300.0

 
—

 
83.3

 
—

 
383.3

Proceeds from revolving credit facility—net
34.4

 
—

 
—

 
—

 
34.4

Payments on notes financing—net
—

 
(2.1
)
 
(8.3
)
 
—

 
(10.4
)
Proceeds from swap monetization
14.8

 
—

 
—

 
—

 
14.8

Debt issue costs
(5.7
)
 
—

 
—

 
—

 
(5.7
)
Dividends paid
(10.6
)
 
—

 
—

 
—

 
(10.6
)
Exercises of stock options including windfall tax benefits
6.4

 
—

 
—

 
—

 
6.4

Intercompany financing
—

 
43.7

 
5.1

 
(48.8
)
 
—

Net cash (provided by) used for financing activities
$
(100.4
)
 
$
40.9

 
$
25.1

 
$
(48.8
)
 
$
(83.2
)
Effect of exchange rate changes on cash
—

 
—

 
1.2

 
—

 
1.2

Net increase (decrease) in cash and cash equivalents
7.8

 
(4.5
)
 
1.6

 
—

 
4.9

Balance at beginning of period
4.2

 
8.5

 
55.6

 
—

 
68.3

Balance at end of period
$
12.0

 
$
4.0

 
$
57.2

 
$
—

 
$
73.2