XML 19 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operations:    
Net (loss) income $ (212.4) $ 14.9
Adjustments to reconcile net earnings to cash used for operating activities of continuing operations:    
Discontinued operations, net of income taxes 4.0 (44.6)
Depreciation 23.6 24.0
Amortization of intangible assets 1.5 1.5
Amortization of deferred financing fees 1.3 2.1
Deferred income taxes 125.2 32.8
Loss on early debt extinguishment 15.4 0.0
Loss (gain) on sale of property, plant and equipment 1.7 (0.6)
Other (4.5) 6.1
Changes in operating assets and liabilities, excluding effects of business acquisitions and divestitures:    
Accounts receivable (33.3) (1.0)
Inventories (43.0) (95.6)
Other assets (2.2) (8.9)
Accounts payable (40.8) 7.5
Accrued expenses and other liabilities 0.9 22.2
Net cash used for operating activities of continuing operations (162.6) (39.6)
Net cash used for operating activities of discontinued operations (63.9) (40.6)
Net cash used for operating activities (226.5) (80.2)
Cash Flows from Investing:    
Capital expenditures (24.7) (22.5)
Proceeds from sale of property, plant and equipment 0.9 5.1
Restricted cash 0.3 3.3
Net cash used for investing activities of continuing operations (23.5) (14.1)
Net cash used for investing activities of discontinued operations (2.4) (7.0)
Net cash used for investing activities (25.9) (21.1)
Cash Flows from Financing:    
Proceeds from revolving credit facility 0.0 142.0
Payments on long-term debt (1,365.9) (34.6)
Proceeds from long-term debt 261.1 1.4
Payments on notes financing (5.0) (9.3)
Debt issuance costs (8.3) 0.0
Exercises of stock options 2.5 3.9
Dividend from spun-off subsidiary 1,361.7 0.0
Cash transferred to spun-off subsidiary (17.7) 0.0
Net cash provided by financing activities of continuing operations 228.4 103.4
Net cash provided by financing activities of discontinued operations 0.2 0.2
Net cash provided by financing activities 228.6 103.6
Effect of exchange rate changes on cash 1.2 (2.6)
Net decrease in cash and cash equivalents (22.6) (0.3)
Balance at beginning of period, including cash of discontinued operations of $31.9 and $16.5 63.4 68.0
Balance at end of period, including cash of discontinued operations of $0.0 and $14.8 $ 40.8 $ 67.7