XML 20 R8.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash Flows from Operations:    
Net (loss) income $ (352.4) $ 19.7
Adjustments to reconcile net (loss) income to cash used for operating activities of continuing operations:    
Asset impairment 96.9 0.0
Discontinued operations, net of income taxes 5.8 (79.0)
Depreciation 34.9 36.5
Amortization of intangible assets 2.2 2.3
Amortization of deferred financing fees 1.8 3.2
Deferred income taxes 127.8 33.8
Loss on early debt extinguishment 15.4 0.0
Loss (gain) on sale of property, plant and equipment 1.1 (0.3)
Other (2.7) 8.7
Changes in operating assets and liabilities, excluding effects of business acquisitions and divestitures:    
Accounts receivable 25.3 (12.8)
Inventories (36.2) (103.4)
Other assets 13.1 16.9
Accounts payable (87.0) (25.8)
Accrued expenses and other liabilities (10.0) 23.4
Net cash used for operating activities of continuing operations (164.0) (76.8)
Net cash (used for) provided by operating activities of discontinued operations (65.5) 2.9
Net cash used for operating activities (229.5) (73.9)
Cash Flows from Investing:    
Capital expenditures (34.8) (31.9)
Proceeds from fixed assets 2.3 6.2
Other (0.3) 3.2
Net cash used for investing activities of continuing operations (32.8) (22.5)
Net cash used for investing activities of discontinued operations (2.4) (10.1)
Net cash used for investing activities (35.2) (32.6)
Cash Flows from Financing:    
Proceeds from revolving credit facility 20.0 169.0
Payments on long-term debt (1,372.0) (47.6)
Proceeds from long-term debt 262.0 1.6
Payments on notes financing - net (8.7) (10.0)
Debt issuance costs (8.9) 0.0
Exercises of stock options 6.4 4.0
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 242.8 117.0
Net cash provided by financing activities of discontinued operations 0.2 0.1
Net cash provided by financing activities 243.0 117.1
Effect of exchange rate changes on cash 1.2 (3.4)
Net (decrease) increase in cash and cash equivalents (20.5) 7.2
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 $47.3 $ 42.9 $ 75.2