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Subsidiary Guarantors of Senior Notes due 2020 and Senior Notes due 2022 (Tables) | 12 Months Ended
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Dec. 31, 2015
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 Year Ended December 31, 2015 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 2,231.6 |  |  | $ | 1,798.0 |  |  | $ | (593.8 | ) |  | $ | 3,435.8 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales | — |  |  | 1,785.7 |  |  | 1,410.7 |  |  | (593.8 | ) |  | 2,602.6 |
Engineering, selling and administrative expenses | 53.8 |  |  | 281.0 |  |  | 252.8 |  |  | — |  |  | 587.6 |
Separation expense | 34.7 |  |  | 4.4 |  |  | 0.3 |  |  | — |  |  | 39.4 |
Amortization expense | — |  |  | 29.6 |  |  | 4.8 |  |  | — |  |  | 34.4 |
Asset impairment expense | — |  |  | 10.9 |  |  | 13.5 |  |  | — |  |  | 24.4 |
Restructuring expense | 3.7 |  |  | 3.1 |  |  | 7.2 |  |  | — |  |  | 14.0 |
Other expense | — |  |  | 0.9 |  |  | — |  |  | — |  |  | 0.9 |
Equity in loss (earnings) of subsidiaries | 160.6 |  |  | (23.6 | ) |  |  |  | (137.0 | ) |  | — |
Total costs and expenses | 252.8 |  |  | 2,092.0 |  |  | 1,689.3 |  |  | (730.8 | ) |  | 3,303.3 |
Operating (loss) earnings from continuing operations | (252.8 | ) |  | 139.6 |  |  | 108.7 |  |  | 137.0 |  |  | 132.5 |
Other (expense) income : |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense | (89.5 | ) |  | (2.5 | ) |  | (5.0 | ) |  | — |  |  | (97.0 | )
Amortization of deferred financing fees | (4.2 | ) |  | — |  |  | — |  |  | — |  |  | (4.2 | )
Loss on debt extinguishment | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Management fee income (expense) | 64.7 |  |  | (70.2 | ) |  | 5.5 |  |  |  |  |  | — |
Other income (expense) - net (1) | 304.8 |  |  | (82.7 | ) |  | 12.4 |  |  | (209.0 | ) |  | 25.5 |
Total other income (expense) | 275.6 |  |  | (155.4 | ) |  | 12.9 |  |  | (209.0 | ) |  | (75.9 | )
Earnings (loss) from continuing operations before taxes on earnings | 22.8 |  |  | (15.8 | ) |  | 121.6 |  |  | (72.0 | ) |  | 56.6 |
(Benefit) provision for taxes on earnings | (40.7 | ) |  | (34.9 | ) |  | 68.9 |  |  | — |  |  | (6.7 | )
Earnings (loss) from continuing operations | 63.5 |  |  | 19.1 |  |  | 52.7 |  |  | (72.0 | ) |  | 63.3 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings from discontinued operations, net of income taxes | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Loss on sale of discontinued operations, net of income taxes | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings (loss) | 63.5 |  |  | 19.3 |  |  | 52.7 |  |  | (72.0 | ) |  | 63.5 |
Less: Net earnings attributable to noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings (loss) attributable to Manitowoc | $ | 63.5 |  |  | $ | 19.3 |  |  | $ | 52.7 |  |  | $ | (72.0 | ) |  | $ | 63.5 |
Comprehensive (loss) income attributable to Manitowoc | $ | (13.8 | ) |  | $ | 6.7 |  |  | $ | 48.4 |  |  | $ | (55.1 | ) |  | $ | (13.8 | )
(1) Parent Other Income includes of $209.0 million of inter-company dividend income 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 | — |  |  | 1,895.5 |  |  | 1,624.6 |  |  | (614.1 | ) |  | 2,906.0 |
Engineering, selling and administrative expenses | 49.8 |  |  | 281.8 |  |  | 304.4 |  |  | — |  |  | 636.0 |
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 (income) | — |  |  | 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 | — |  |  | 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 income (expense) - 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 loss 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 |
Condensed Consolidating Balance Sheet | The Manitowoc Company, Inc. Condensed Consolidating Balance Sheet as of December 31, 2015 (In millions)
| Parent |  | Guarantor Subsidiaries |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 1.4 |  |  | $ | 5.0 |  |  | $ | 57.0 |  |  | $ | — |  |  | $ | 63.4 |
Restricted cash | — |  |  | — |  |  | 17.5 |  |  | — |  |  | 17.5 |
Accounts receivable — net | 2.2 |  |  | — |  |  | 243.0 |  |  | (25.7 | ) |  | 219.5 |
Intercompany short term note receivable | — |  |  | — |  |  | 39.0 |  |  | (39.0 | ) |  | — |
Intercompany interest receivable | 37.6 |  |  | — |  |  | — |  |  | (37.6 | ) |  | — |
Inventories — net | — |  |  | 318.5 |  |  | 280.0 |  |  | — |  |  | 598.5 |
Deferred income taxes | — |  |  | — |  |  | — |  |  | — |  |  | — |
Other current assets | 2.3 |  |  | 3.9 |  |  | 108.5 |  |  | — |  |  | 114.7 |
Current assets of discontinued operation | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total current assets | 43.5 |  |  | 327.4 |  |  | 745.0 |  |  | (102.3 | ) |  | 1,013.6 |
Property, plant and equipment — net | 7.5 |  |  | 304.9 |  |  | 214.6 |  |  | — |  |  | 527.0 |
Goodwill | — |  |  | 932.5 |  |  | 219.8 |  |  | — |  |  | 1,152.3 |
Other intangible assets — net | — |  |  | 500.2 |  |  | 138.6 |  |  | — |  |  | 638.8 |
Intercompany long-term notes receivable | 897.0 |  |  | 255.9 |  |  | 33.8 |  |  | (1,186.7 | ) |  | — |
Intercompany accounts receivable | — |  |  | 1,236.6 |  |  | 680.8 |  |  | (1,917.4 | ) |  | — |
Other non-current assets | 34.4 |  |  | 3.4 |  |  | 70.2 |  |  | — |  |  | 108.0 |
Long-term assets held for sale | — |  |  | 3.7 |  |  | 5.5 |  |  | — |  |  | 9.2 |
Investment in affiliates | 3,785.1 |  |  | 2,232.4 |  |  | — |  |  | (6,017.5 | ) |  | — |
Total assets | $ | 4,767.5 |  |  | $ | 5,797.0 |  |  | $ | 2,108.3 |  |  | $ | (9,223.9 | ) |  | $ | 3,448.9 |
Liabilities and Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable and accrued expenses | $ | 65.9 |  |  | $ | 391.3 |  |  | $ | 276.4 |  |  | $ | (25.7 | ) |  | $ | 707.9 |
Short-term borrowings and current portion of long-term debt | 71.8 |  |  | 2.3 |  |  | 32.5 |  |  | (39.0 | ) |  | 67.6 |
Intercompany short term note payable | — |  |  | — |  |  | — |  |  | — |  |  | — |
Intercompany interest payable | — |  |  | — |  |  | 37.6 |  |  | (37.6 | ) |  | — |
Product warranties | — |  |  | 40.7 |  |  | 29.6 |  |  | — |  |  | 70.3 |
Customer advances | — |  |  | 4.0 |  |  | 9.3 |  |  | — |  |  | 13.3 |
Product liabilities | — |  |  | 22.8 |  |  | 1.7 |  |  | — |  |  | 24.5 |
Current liabilities of discontinued operation | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total current liabilities | 137.7 |  |  | 461.1 |  |  | 387.1 |  |  | (102.3 | ) |  | 883.6 |
Non-Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt, less current portion | 1,311.8 |  |  | 21.8 |  |  | 12.4 |  |  | — |  |  | 1,346.0 |
Deferred income taxes | 89.4 |  |  | — |  |  | — |  |  | — |  |  | 89.4 |
Pension obligations | 118.6 |  |  | 6.6 |  |  | 3.5 |  |  | — |  |  | 128.7 |
Postretirement health and other benefit obligations | 44.0 |  |  | 2.2 |  |  | 1.2 |  |  | — |  |  | 47.4 |
Long-term deferred revenue | — |  |  | 10.1 |  |  | 23.8 |  |  | — |  |  | 33.9 |
Intercompany long-term note payable | 251.6 |  |  | 251.6 |  |  | 683.5 |  |  | (1,186.7 | ) |  | — |
Intercompany accounts payable | 1,917.4 |  |  | — |  |  | — |  |  | (1,917.4 | ) |  | — |
Other non-current liabilities | 77.6 |  |  | 11.3 |  |  | 11.5 |  |  | — |  |  | 100.4 |
Long-term liabilities of discontinued operation | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total non-current liabilities | 3,810.4 |  |  | 303.6 |  |  | 735.9 |  |  | (3,104.1 | ) |  | 1,745.8 |
Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |
Manitowoc stockholders’ equity | 819.4 |  |  | 5,032.3 |  |  | 985.3 |  |  | (6,017.5 | ) |  | 819.5 |
Noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total equity | 819.4 |  |  | 5,032.3 |  |  | 985.3 |  |  | (6,017.5 | ) |  | 819.5 |
Total liabilities and equity | $ | 4,767.5 |  |  | $ | 5,797.0 |  |  | $ | 2,108.3 |  |  | $ | (9,223.9 | ) |  | $ | 3,448.9 |
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 |  |  | 1.6 |  |  | 139.4 |  |  | — |  |  | 144.6 |
Current assets held for sale | — |  |  | 5.1 |  |  | 1.5 |  |  | — |  |  | 6.6 |
Current assets of discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 |  |  | 56.4 |  |  | — |  |  | 126.2 |
Other non-current assets held for sale | — |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |
Long-term assets of discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 |
Condensed Consolidating Statement of Cash Flows | The Manitowoc Company, Inc. Condensed Consolidating Statement of Cash Flows For the year ended December 31, 2015 (In millions)
| Parent |  | Subsidiary Guarantors |  | Non- Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided (used for) by operating activities of continuing operations | $ | 217.1 |  |  | $ | (11.1 | ) |  | $ | 99.3 |  |  | $ | (207.5 | ) |  | $ | 97.8 |
Cash provided by operating activities of discontinued operations | — |  |  | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Net cash provided by (used for) operating activities | $ | 217.1 |  |  | $ | (10.9 | ) |  | $ | 99.3 |  |  | $ | (207.5 | ) |  | $ | 98.0 |
Cash Flows from Investing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures | $ | (1.0 | ) |  | $ | (31.2 | ) |  | $ | (35.9 | ) |  | $ | — |  |  | $ | (68.1 | )
Proceeds from sale of property, plant and equipment | — |  |  | — |  |  | 7.3 |  |  | — |  |  | 7.3 |
Restricted cash | 2.8 |  |  | — |  |  | 2.0 |  |  | — |  |  | 4.8 |
Business acquisitions, net of cash acquired | — |  |  | — |  |  | (5.3 | ) |  | — |  |  | (5.3 | )
Proceeds from sale of business | 78.2 |  |  | — |  |  | — |  |  | — |  |  | 78.2 |
Intercompany investments | (118.0 | ) |  | 730.3 |  |  | 288.8 |  |  | (901.1 | ) |  | — |
Net cash provided by (used for) investing activities of continuing operations | $ | (38.0 | ) |  | $ | 699.1 |  |  | $ | 256.9 |  |  | $ | (901.1 | ) |  | $ | 16.9 |
Net cash used for investing activities of discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash provided by (used for) investing activities | $ | (38.0 | ) |  | $ | 699.1 |  |  | $ | 256.9 |  |  | $ | (901.1 | ) |  | $ | 16.9 |
Cash Flows from Financing: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments on long-term debt | $ | (74.2 | ) |  | $ | (2.7 | ) |  | $ | (29.2 | ) |  | $ | — |  |  | $ | (106.1 | )
Proceeds from long-term debt | — |  |  | — |  |  | 5.6 |  |  | — |  |  | 5.6 |
Payments on notes financing—net | — |  |  | — |  |  | (9.4 | ) |  | — |  |  | (9.4 | )
Dividends paid | (10.9 | ) |  | (137.4 | ) |  | (71.6 | ) |  | 209.0 |  |  | (10.9 | )
Exercises of stock options including windfall tax benefits | 7.9 |  |  | — |  |  | — |  |  | — |  |  | 7.9 |
Intercompany financing | (102.1 | ) |  | (546.4 | ) |  | (251.1 | ) |  | 899.6 |  |  | — |
Net cash (used for) provided by financing activities of continuing operations | $ | (179.3 | ) |  | $ | (686.5 | ) |  | $ | (355.7 | ) |  | $ | 1,108.6 |  |  | $ | (112.9 | )
Net cash used for financing activities of discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Net cash (used for) provided by financing activities | $ | (179.3 | ) |  | $ | (686.5 | ) |  | $ | (355.7 | ) |  | $ | 1,108.6 |  |  | $ | (112.9 | )
Effect of exchange rate changes on cash | — |  |  | — |  |  | (6.6 | ) |  | — |  |  | (6.6 | )
Net (decrease) increase in cash and cash equivalents | (0.2 | ) |  | 1.7 |  |  | (6.1 | ) |  | — |  |  | (4.6 | )
Balance at beginning of period | 1.6 |  |  | 3.3 |  |  | 63.1 |  |  | — |  |  | 68.0 |
Balance at end of period | $ | 1.4 |  |  | $ | 5.0 |  |  | $ | 57.0 |  |  | $ | — |  |  | $ | 63.4 |
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 of continuing operations | 75.2 |  |  | (265.1 | ) |  | 88.6 |  |  | 17.7 |  |  | (83.6 | )
Net cash used for investing activities of discontinued operations | — |  |  | — |  |  | — |  |  | — |  |  | — |
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 |
Proceeds from 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 for 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 decrease 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 | )
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 |

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