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Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables)
 12 Months Ended
Dec. 31, 2014
Guarantees [Abstract]  
Condensed Income Statement
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2012
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net sales
$
1,939.7

 
$
1,958.4

 
$
515.6

 
$
(319.7
)
 
$
4,094.0

 
 
 
 
 
 
 
 
 
 
Cost of sales
1,409.9

 
1,648.6

 
444.7

 
(319.7
)
 
3,183.5

Selling, general and administrative expenses
167.4

 
140.4

 
39.3

 
—

 
347.1

Depreciation and amortization
142.1

 
162.3

 
34.2

 
—

 
338.6

Restructuring, impairment and transaction-related charges
28.3

 
62.8

 
27.2

 
—

 
118.3

Total operating expenses
1,747.7

 
2,014.1

 
545.4

 
(319.7
)
 
3,987.5

Operating income (loss) from continuing operations
$
192.0

 
$
(55.7
)
 
$
(29.8
)
 
$
—

 
$
106.5

Interest expense (income)
74.4

 
1.1

 
8.5

 
—

 
84.0

Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of consolidated and unconsolidated entities
117.6

 
(56.8
)
 
(38.3
)
 
—

 
22.5

Income tax expense (benefit)
44.7

 
(75.5
)
 
(0.7
)
 
—

 
(31.5
)
Earnings (loss) from continuing operations before equity in earnings (loss) of consolidated and unconsolidated entities
72.9

 
18.7

 
(37.6
)
 
—

 
54.0

Equity in earnings (loss) of consolidated entities
(19.5
)
 
(1.3
)
 
—

 
20.8

 
—

Equity in earnings (loss) of unconsolidated entities
—

 
—

 
2.3

 
—

 
2.3

Net earnings (loss) from continuing operations
$
53.4

 
$
17.4

 
$
(35.3
)
 
$
20.8

 
$
56.3

Discontinued operations, net of tax
34.0

 
—

 
(3.2
)
 
—

 
30.8

Net earnings (loss)
$
87.4

 
$
17.4

 
$
(38.5
)
 
$
20.8

 
$
87.1

Net (earnings) loss attributable to noncontrolling interests
—

 
—

 
0.3

 
—

 
0.3

Net earnings (loss) attributable to Quad/Graphics common shareholders
$
87.4

 
$
17.4

 
$
(38.2
)
 
$
20.8

 
$
87.4

Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2014
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net sales
$
1,952.8

 
$
2,718.3

 
$
625.0

 
$
(433.7
)
 
$
4,862.4

 
 
 
 
 
 
 
 
 

Cost of sales
1,505.3

 
2,277.3

 
543.0

 
(433.7
)
 
3,891.9

Selling, general and administrative expenses
191.2

 
197.7

 
36.6

 
—

 
425.5

Depreciation and amortization
129.1

 
171.9

 
35.4

 
—

 
336.4

Restructuring, impairment and transaction-related charges
9.5

 
35.3

 
22.5

 
—

 
67.3

Total operating expenses
1,835.1

 
2,682.2

 
637.5

 
(433.7
)
 
4,721.1

Operating income (loss)
$
117.7

 
$
36.1

 
$
(12.5
)
 
$
—

 
$
141.3

Interest expense (income)
85.8

 
(0.9
)
 
8.0

 
—

 
92.9

Loss on debt extinguishment
7.2

 
—

 
—

 
—

 
7.2

Earnings (loss) before income taxes and equity in earnings (loss) of consolidated and unconsolidated entities
24.7


37.0


(20.5
)

—

 
41.2

Income tax expense (benefit)
20.6

 
(5.1
)
 
4.7

 
—

 
20.2

Earnings (loss) before equity in earnings (loss) of consolidated and unconsolidated entities
4.1


42.1


(25.2
)

—

 
21.0

Equity in earnings (loss) of consolidated entities
14.5

 
(4.8
)
 
—

 
(9.7
)
 
—

Equity in earnings (loss) of unconsolidated entities
—

 
—

 
(2.7
)
 
—

 
(2.7
)
Net earnings (loss)
$
18.6


$
37.3


$
(27.9
)

$
(9.7
)

$
18.3

Net (earnings) loss attributable to noncontrolling interests
—

 
—

 
0.3

 
—

 
0.3

Net earnings (loss) attributable to Quad/Graphics common shareholders
$
18.6


$
37.3


$
(27.6
)

$
(9.7
)

$
18.6

Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2013
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net sales
$
1,923.8

 
$
2,813.7

 
$
457.6

 
$
(399.2
)
 
$
4,795.9

 
 
 
 
 
 
 
 
 
 
Cost of sales
1,467.8

 
2,342.3

 
391.0

 
(399.2
)
 
3,801.9

Selling, general and administrative expenses
176.2

 
205.5

 
34.3

 
—

 
416.0

Depreciation and amortization
136.5

 
175.1

 
28.9

 
—

 
340.5

Restructuring, impairment and transaction-related charges
12.0

 
67.4

 
15.9

 
—

 
95.3

Total operating expenses
1,792.5

 
2,790.3

 
470.1

 
(399.2
)
 
4,653.7

Operating income (loss)
$
131.3

 
$
23.4

 
$
(12.5
)
 
$
—

 
$
142.2

Interest expense (income)
79.2

 
(0.4
)
 
6.7

 
—

 
85.5

Earnings (loss) before income taxes and equity in earnings (loss) of consolidated and unconsolidated entities
52.1

 
23.8

 
(19.2
)
 
—

 
56.7

Income tax expense (benefit)
35.8

 
(14.0
)
 
1.5

 
—

 
23.3

Earnings (loss) before equity in earnings (loss) of consolidated and unconsolidated entities
16.3

 
37.8

 
(20.7
)
 
—

 
33.4

Equity in earnings (loss) of consolidated entities
16.2

 
(9.3
)
 
—

 
(6.9
)
 
—

Equity in earnings (loss) of unconsolidated entities
—

 
—

 
(2.5
)
 
—

 
(2.5
)
Net earnings (loss)
$
32.5

 
$
28.5

 
$
(23.2
)
 
$
(6.9
)
 
$
30.9

Net (earnings) loss attributable to noncontrolling interests
—

 
—

 
1.6

 
—

 
1.6

Net earnings (loss) attributable to Quad/Graphics common shareholders
$
32.5

 
$
28.5

 
$
(21.6
)
 
$
(6.9
)
 
$
32.5
Comprehensive Income (Loss)
Condensed Consolidating Statement of Comprehensive Income (Loss)
For the Year Ended December 31, 2013
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net earnings (loss)
$
32.5

 
$
28.5

 
$
(23.2
)
 
$
(6.9
)
 
$
30.9

Other comprehensive income (loss), net of tax
54.8

 
79.3

 
(21.2
)
 
(58.1
)
 
54.8

Total comprehensive income (loss)
87.3

 
107.8

 
(44.4
)
 
(65.0
)
 
85.7

Less: comprehensive (income) loss attributable to noncontrolling interest
—

 
—

 
1.6

 
—

 
1.6

Comprehensive income (loss) attributable to Quad/Graphics common shareholders
$
87.3

 
$
107.8

 
$
(42.8
)
 
$
(65.0
)
 
$
87.3

Condensed Consolidating Statement of Comprehensive Income (Loss)
For the Year Ended December 31, 2012
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net earnings (loss)
$
87.4

 
$
17.4

 
$
(38.5
)
 
$
20.8

 
$
87.1

Other comprehensive income (loss), net of tax
(22.6
)
 
(26.7
)
 
0.8

 
25.8

 
(22.7
)
Total comprehensive income (loss)
64.8

 
(9.3
)
 
(37.7
)
 
46.6

 
64.4

Less: comprehensive (income) loss attributable to noncontrolling interest
—

 
—

 
0.4

 
—

 
0.4

Comprehensive income (loss) attributable to Quad/Graphics common shareholders
$
64.8

 
$
(9.3
)
 
$
(37.3
)
 
$
46.6

 
$
64.8

Condensed Consolidating Statement of Comprehensive Income (Loss)
For the Year Ended December 31, 2014
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net earnings (loss)
$
18.6

 
$
37.3

 
$
(27.9
)
 
$
(9.7
)
 
$
18.3

Other comprehensive income (loss), net of tax
(111.0
)
 
(57.5
)
 
(47.4
)
 
104.9

 
(111.0
)
Total comprehensive income (loss)
(92.4
)
 
(20.2
)
 
(75.3
)
 
95.2

 
(92.7
)
Less: comprehensive (income) loss attributable to noncontrolling interest
—

 
—

 
0.3

 
—

 
0.3

Comprehensive income (loss) attributable to Quad/Graphics common shareholders
$
(92.4
)
 
$
(20.2
)
 
$
(75.0
)
 
$
95.2

 
$
(92.4
)
Condensed Balance Sheet
Condensed Consolidating Balance Sheet
As of December 31, 2013
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
4.8

 
$
3.5

 
$
4.8

 
$
—

 
$
13.1

Receivables, less allowances for doubtful accounts
487.6

 
86.1

 
125.2

 
—

 
698.9

Intercompany receivables
—

 
688.5

 
—

 
(688.5
)
 
—

Inventories
94.2

 
121.4

 
56.9

 
—

 
272.5

Other current assets
54.8

 
22.9

 
12.1

 
—

 
89.8

Total current assets
641.4

 
922.4

 
199.0

 
(688.5
)
 
1,074.3

 
 
 
 
 
 
 
 
 
 
Property, plant and equipment—net
1,032.2

 
667.7

 
225.6

 
—

 
1,925.5

Investment in consolidated entities
1,849.8

 
4.3

 
—

 
(1,854.1
)
 
—

Goodwill and intangible assets—net
0.5

 
954.9

 
39.5

 
—

 
994.9

Intercompany loan receivable
421.6

 
2.0

 
—

 
(423.6
)
 
—

Other long-term assets
37.9

 
57.1

 
76.0

 
—

 
171.0

 
 
 
 
 
 
 
 
 
 
Total assets
$
3,983.4

 
$
2,608.4

 
$
540.1

 
$
(2,966.2
)
 
$
4,165.7

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
Accounts payable
$
213.0

 
$
97.3

 
$
90.7

 
$
—

 
$
401.0

Intercompany accounts payable
678.8

 
—

 
9.7

 
(688.5
)
 
—

Current portion of long-term debt and capital lease obligations
116.0

 
6.1

 
12.5

 
—

 
134.6

Other current liabilities
199.0

 
114.1

 
40.1

 
—

 
353.2

Total current liabilities
1,206.8

 
217.5

 
153.0

 
(688.5
)
 
888.8

 
 
 
 
 
 
 
 
 
 
Long-term debt and capital lease obligations
1,213.0

 
5.9

 
53.3

 
—

 
1,272.2

Intercompany loan payable
—

 
336.2

 
87.4

 
(423.6
)
 
—

Other long-term liabilities
276.0

 
436.3

 
4.8

 
—

 
717.1

Total liabilities
2,695.8

 
995.9

 
298.5

 
(1,112.1
)
 
2,878.1

 
 
 
 
 
 
 
 
 
 
Total common stock and other equity and noncontrolling interests
1,287.6

 
1,612.5

 
241.6

 
(1,854.1
)
 
1,287.6

 
 
 
 
 
 
 
 
 
 
Total liabilities and shareholders' equity
$
3,983.4

 
$
2,608.4

 
$
540.1

 
$
(2,966.2
)
 
$
4,165.7

Condensed Consolidating Balance Sheet
As of December 31, 2014
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
ASSETS
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
1.9

 
$
5.6

 
$
2.1

 
$
—

 
$
9.6

Receivables, less allowances for doubtful accounts
577.5

 
57.7

 
131.0

 
—

 
766.2

Intercompany receivables
—

 
826.3

 
3.9

 
(830.2
)
 
—

Inventories
111.9

 
119.7

 
56.2

 
—

 
287.8

Other current assets
56.8

 
49.9

 
12.0

 
—

 
118.7

Total current assets
748.1

 
1,059.2

 
205.2

 
(830.2
)
 
1,182.3

 
 
 
 
 
 
 
 
 
 
Property, plant and equipment—net
959.5

 
635.7

 
260.3

 
—

 
1,855.5

Investment in consolidated entities
1,940.0

 
137.8

 
—

 
(2,077.8
)
 
—

Goodwill and intangible assets—net
0.6

 
888.0

 
36.0

 
—

 
924.6

Intercompany loan receivable
418.5

 
0.1

 
—

 
(418.6
)
 
—

Other long-term assets
48.1

 
6.1

 
60.6

 
—

 
114.8

 
 
 
 
 
 
 
 
 
 
Total assets
$
4,114.8

 
$
2,726.9

 
$
562.1

 
$
(3,326.6
)
 
$
4,077.2

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
 
 
 
 
 
 
 
Accounts payable
$
251.1

 
$
79.5

 
$
76.3

 
$
—

 
$
406.9

Intercompany accounts payable
830.2

 
—

 
—

 
(830.2
)
 
—

Current portion of long-term debt and capital lease obligations
90.7

 
3.6

 
1.9

 
—

 
96.2

Other current liabilities
205.1

 
102.9

 
51.5

 
—

 
359.5

Total current liabilities
1,377.1

 
186.0

 
129.7

 
(830.2
)
 
862.6

 
 
 
 
 
 
 
 
 
 
Long-term debt and capital lease obligations
1,318.4

 
9.4

 
1.6

 
—

 
1,329.4

Intercompany loan payable
—

 
336.2

 
82.4

 
(418.6
)
 
—

Other long-term liabilities
266.7

 
455.4

 
10.6

 
—

 
732.7

Total liabilities
2,962.2

 
987.0

 
224.3

 
(1,248.8
)
 
2,924.7

 
 
 
 
 
 
 
 
 
 
Total common stock and other equity and noncontrolling interests
1,152.6

 
1,739.9

 
337.8

 
(2,077.8
)
 
1,152.5

 
 
 
 
 
 
 
 
 
 
Total liabilities and shareholders' equity
$
4,114.8

 
$
2,726.9

 
$
562.1

 
$
(3,326.6
)
 
$
4,077.2
Condensed Cash Flow Statement
Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2013
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
Net cash from operating activities
$
106.6

 
$
301.2

 
$
33.3

 
$
—

 
$
441.1

 
 
 
 
 
 
 
 
 
 
INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(55.4
)
 
(81.0
)
 
(13.1
)
 
—

 
(149.5
)
Acquisition related investing activities—net of cash acquired
(41.6
)
 
(250.3
)
 
—

 
—

 
(291.9
)
Intercompany investing activities
(287.2
)
 
(212.9
)
 
—

 
500.1

 
—

Other investing activities
6.2

 
4.6

 
—

 
—

 
10.8

Net cash from investing activities
(378.0
)
 
(539.6
)
 
(13.1
)
 
500.1

 
(430.6
)
 
 
 
 
 
 
 
 
 
 
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Payments of long-term debt and capital lease obligations
(95.3
)
 
(8.9
)
 
(8.3
)
 
—

 
(112.5
)
Borrowings on revolving credit facilities
1,504.9

 
—

 
123.9

 
—

 
1,628.8

Payments on revolving credit facilities
(1,345.1
)
 
—

 
(129.9
)
 
—

 
(1,475.0
)
Payment of dividends
(56.4
)
 
—

 
—

 
—

 
(56.4
)
Intercompany financing activities
255.6

 
252.8

 
(8.3
)
 
(500.1
)
 
—

Other financing activities
9.4

 
(4.5
)
 
—

 
—

 
4.9

Net cash from financing activities
273.1

 
239.4

 
(22.6
)
 
(500.1
)
 
(10.2
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rates on cash and cash equivalents
—

 
—

 
(4.1
)
 
—

 
(4.1
)
Net increase (decrease) in cash and cash equivalents
1.7

 
1.0

 
(6.5
)
 
—

 
(3.8
)
Cash and cash equivalents at beginning of year
3.1

 
2.5

 
11.3

 
—

 
16.9

Cash and cash equivalents at end of year
$
4.8

 
$
3.5

 
$
4.8

 
$
—

 
$
13.1

Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2012
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
Net cash from operating activities
$
328.4

 
$
(0.6
)
 
$
26.4

 
$
—

 
$
354.2

 
 
 
 
 
 
 
 
 
 
INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(42.1
)
 
(37.9
)
 
(23.5
)
 
—

 
(103.5
)
Acquisition related investing activities—net of cash acquired
45.1

 
(32.5
)
 
—

 
—

 
12.6

Intercompany investing activities
(409.3
)
 
40.0

 
153.6

 
215.7

 
—

Other investing activities
23.5

 
15.4

 
(18.1
)
 
—

 
20.8

Net cash from investing activities
(382.8
)
 
(15.0
)
 
112.0

 
215.7

 
(70.1
)
 
 
 
 
 
 
 
 
 
 
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Payments of long-term debt and capital lease obligations
(81.0
)
 
(9.6
)
 
(5.0
)
 
—

 
(95.6
)
Borrowings on revolving credit facilities
141.7

 
—

 
128.6

 
—

 
270.3

Payments on revolving credit facilities
(176.7
)
 
—

 
(119.0
)
 
—

 
(295.7
)
Payment of dividends
(151.8
)
 
—

 
—

 
—

 
(151.8
)
Intercompany financing activities
313.2

 
32.5

 
(130.0
)
 
(215.7
)
 
—

Other financing activities
2.1

 
(14.9
)
 
—

 
—

 
(12.8
)
Net cash from financing activities
47.5

 
8.0

 
(125.4
)
 
(215.7
)
 
(285.6
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rates on cash and cash equivalents
—

 
—

 
(7.2
)
 
—

 
(7.2
)
Net increase (decrease) in cash and cash equivalents
(6.9
)
 
(7.6
)
 
5.8

 
—

 
(8.7
)
Cash and cash equivalents at beginning of year
10.0

 
10.1

 
5.5

 
—

 
25.6

Cash and cash equivalents at end of year
$
3.1

 
$
2.5

 
$
11.3

 
$
—

 
$
16.9

Condensed Consolidating Statement of Cash Flows
For the Year Ended December 31, 2014
 
Quad/Graphics,
Inc.
 
Guarantor Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
OPERATING ACTIVITIES
 
 
 
 
 
 
 
 
 
Net cash from operating activities
$
100.8

 
$
176.0

 
$
16.4

 
$
—

 
$
293.2

 
 
 
 
 
 
 
 
 
 
INVESTING ACTIVITIES
 
 
 
 
 
 
 
 
 
Purchases of property, plant and equipment
(48.7
)
 
(68.2
)
 
(22.3
)
 
—

 
(139.2
)
Acquisition related investing activities—net of cash acquired
(7.0
)
 
(9.1
)
 
(96.4
)
 
—

 
(112.5
)
Intercompany investing activities
(189.0
)
 
(236.0
)
 
—

 
425.0

 
—

Other investing activities
(0.4
)
 
26.9

 
1.0

 
—

 
27.5

Net cash from investing activities
(245.1
)
 
(286.4
)
 
(117.7
)
 
425.0

 
(224.2
)
 
 
 
 
 
 
 
 
 
 
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Proceeds from issuance of long-term debt
1,047.0

 
—

 
—

 
—

 
1,047.0

Payments of long-term debt and capital lease obligations
(802.1
)
 
(7.6
)
 
(58.1
)
 
—

 
(867.8
)
Borrowings on revolving credit facilities
1,285.2

 
—

 
124.7

 
—

 
1,409.9

Payments on revolving credit facilities
(1,451.1
)
 
—

 
(126.5
)
 
—

 
(1,577.6
)
Payment of dividends
(61.2
)
 
—

 
—

 
—

 
(61.2
)
Intercompany financing activities
137.6

 
128.2

 
159.2

 
(425.0
)
 
—

Other financing activities
(14.0
)
 
(8.0
)
 
—

 
—

 
(22.0
)
Net cash from financing activities
141.4

 
112.6

 
99.3

 
(425.0
)
 
(71.7
)
 
 
 
 
 
 
 
 
 
 
Effect of exchange rates on cash and cash equivalents
—

 
(0.1
)
 
(0.7
)
 
—

 
(0.8
)
Net increase (decrease) in cash and cash equivalents
(2.9
)
 
2.1

 
(2.7
)
 
—

 
(3.5
)
Cash and cash equivalents at beginning of year
4.8

 
3.5

 
4.8

 
—

 
13.1

Cash and cash equivalents at end of year
$
1.9

 
$
5.6

 
$
2.1

 
$
—

 
$
9.6