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Separate Financial Information of Subsidiary Guarantors of Indebtedness (Tables) | 3 Months Ended
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Mar. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Consolidating Statement of Operations | Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2017
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
Net sales | $ | 422.3 |  |  | $ | 563.4 |  |  | $ | 101.4 |  |  | $ | (88.5 | ) |  | $ | 998.6 |
Cost of sales | 303.1 |  |  | 483.6 |  |  | 81.7 |  |  | (87.3 | ) |  | 781.1 |
Selling, general and administrative expenses | 60.2 |  |  | 29.1 |  |  | 7.9 |  |  | (1.2 | ) |  | 96.0 |
Depreciation and amortization | 27.5 |  |  | 25.9 |  |  | 5.3 |  |  | — |  |  | 58.7 |
Restructuring, impairment and transaction-related charges | 11.4 |  |  | (3.0 | ) |  | 0.8 |  |  | — |  |  | 9.2 |
Total operating expenses | 402.2 |  |  | 535.6 |  |  | 95.7 |  |  | (88.5 | ) |  | 945.0 |
Operating income (loss) | $ | 20.1 |  |  | $ | 27.8 |  |  | $ | 5.7 |  |  | $ | — |  |  | $ | 53.6 |
Interest expense (income) | 17.3 |  |  | — |  |  | 0.9 |  |  | — |  |  | 18.2 |
Loss (gain) on debt extinguishment | 2.6 |  |  | — |  |  | — |  |  | — |  |  | 2.6 |
Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities | 0.2 |  |  | 27.8 |  |  | 4.8 |  |  | — |  |  | 32.8 |
Income tax expense (benefit) | (2.8 | ) |  | 13.8 |  |  | (4.3 | ) |  | — |  |  | 6.7 |
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities | 3.0 |  |  | 14.0 |  |  | 9.1 |  |  | — |  |  | 26.1 |
Equity in (earnings) loss of consolidated entities | (22.4 | ) |  | (0.5 | ) |  | — |  |  | 22.9 |  |  | — |
Equity in (earnings) loss of unconsolidated entity | — |  |  | — |  |  | 0.7 |  |  | — |  |  | 0.7 |
Net earnings (loss) | $ | 25.4 |  |  | $ | 14.5 |  |  | $ | 8.4 |  |  | $ | (22.9 | ) |  | $ | 25.4 |
Condensed Consolidating Statement of Operations For the Three Months Ended March 31, 2016
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
Net sales | $ | 438.5 |  |  | $ | 587.9 |  |  | $ | 105.0 |  |  | $ | (88.9 | ) |  | $ | 1,042.5 |
Cost of sales | 308.9 |  |  | 501.2 |  |  | 82.3 |  |  | (88.9 | ) |  | 803.5 |
Selling, general and administrative expenses | 69.3 |  |  | 38.7 |  |  | 11.0 |  |  | — |  |  | 119.0 |
Depreciation and amortization | 45.4 |  |  | 25.2 |  |  | 7.5 |  |  | — |  |  | 78.1 |
Restructuring, impairment and transaction-related charges | 11.4 |  |  | 16.9 |  |  | 0.6 |  |  | — |  |  | 28.9 |
Total operating expenses | 435.0 |  |  | 582.0 |  |  | 101.4 |  |  | (88.9 | ) |  | 1,029.5 |
Operating income (loss) | $ | 3.5 |  |  | $ | 5.9 |  |  | $ | 3.6 |  |  | $ | — |  |  | $ | 13.0 |
Interest expense (income) | 20.8 |  |  | (1.1 | ) |  | 1.0 |  |  | — |  |  | 20.7 |
Loss (gain) on debt extinguishment | (14.1 | ) |  | — |  |  | — |  |  | — |  |  | (14.1 | )
Earnings (loss) before income taxes and equity in (earnings) loss of consolidated and unconsolidated entities | (3.2 | ) |  | 7.0 |  |  | 2.6 |  |  | — |  |  | 6.4 |
Income tax expense (benefit) | 8.1 |  |  | (6.3 | ) |  | (0.1 | ) |  | — |  |  | 1.7 |
Earnings (loss) before equity in (earnings) loss of consolidated and unconsolidated entities | (11.3 | ) |  | 13.3 |  |  | 2.7 |  |  | — |  |  | 4.7 |
Equity in (earnings) loss of consolidated entities | (15.1 | ) |  | (1.5 | ) |  | — |  |  | 16.6 |  |  | — |
Equity in (earnings) loss of unconsolidated entity | — |  |  | — |  |  | 0.9 |  |  | — |  |  | 0.9 |
Net earnings (loss) | $ | 3.8 |  |  | $ | 14.8 |  |  | $ | 1.8 |  |  | $ | (16.6 | ) |  | $ | 3.8 |
Condensed Consolidating Statement of Comprehensive Income (Loss) | Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2016
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
Net earnings (loss) | $ | 3.8 |  |  | $ | 14.8 |  |  | $ | 1.8 |  |  | $ | (16.6 | ) |  | $ | 3.8 |
Other comprehensive income (loss), net of tax | 8.4 |  |  | (1.1 | ) |  | 6.6 |  |  | (5.5 | ) |  | 8.4 |
Total comprehensive income (loss) | $ | 12.2 |  |  | $ | 13.7 |  |  | $ | 8.4 |  |  | $ | (22.1 | ) |  | $ | 12.2 |
Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2017
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
Net earnings (loss) | $ | 25.4 |  |  | $ | 14.5 |  |  | $ | 8.4 |  |  | $ | (22.9 | ) |  | $ | 25.4 |
Other comprehensive income (loss), net of tax | 8.1 |  |  | 0.4 |  |  | 7.4 |  |  | (7.8 | ) |  | 8.1 |
Total comprehensive income (loss) | $ | 33.5 |  |  | $ | 14.9 |  |  | $ | 15.8 |  |  | $ | (30.7 | ) |  | $ | 33.5 |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheet As of March 31, 2017
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.2 |  |  | $ | 0.8 |  |  | $ | 5.5 |  |  | $ | — |  |  | $ | 6.5 |
Receivables, less allowances for doubtful accounts | 382.3 |  |  | 39.1 |  |  | 83.7 |  |  | — |  |  | 505.1 |
Intercompany receivables | — |  |  | 729.8 |  |  | — |  |  | (729.8 | ) |  | — |
Inventories | 98.1 |  |  | 128.5 |  |  | 42.4 |  |  | — |  |  | 269.0 |
Other current assets | 29.3 |  |  | 13.3 |  |  | 12.1 |  |  | — |  |  | 54.7 |
Total current assets | 509.9 |  |  | 911.5 |  |  | 143.7 |  |  | (729.8 | ) |  | 835.3 |
Property, plant and equipment—net | 757.9 |  |  | 569.3 |  |  | 160.0 |  |  | — |  |  | 1,487.2 |
Investment in consolidated entities | 1,320.5 |  |  | 9.7 |  |  | — |  |  | (1,330.2 | ) |  | — |
Intangible assets—net | 10.7 |  |  | 33.1 |  |  | 11.6 |  |  | — |  |  | 55.4 |
Intercompany loan receivable | 106.5 |  |  | — |  |  | — |  |  | (106.5 | ) |  | — |
Other long-term assets | 48.7 |  |  | 10.0 |  |  | 34.3 |  |  | — |  |  | 93.0 |
Total assets | $ | 2,754.2 |  |  | $ | 1,533.6 |  |  | $ | 349.6 |  |  | $ | (2,166.5 | ) |  | $ | 2,470.9 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Accounts payable | $ | 172.2 |  |  | $ | 74.6 |  |  | $ | 57.6 |  |  | $ | — |  |  | $ | 304.4 |
Intercompany accounts payable | 710.4 |  |  | — |  |  | 19.4 |  |  | (729.8 | ) |  | — |
Short-term debt and current portion of long-term debt and capital lease obligations | 67.8 |  |  | 2.5 |  |  | 8.5 |  |  | — |  |  | 78.8 |
Other current liabilities | 193.9 |  |  | 71.4 |  |  | 26.3 |  |  | — |  |  | 291.6 |
Total current liabilities | 1,144.3 |  |  | 148.5 |  |  | 111.8 |  |  | (729.8 | ) |  | 674.8 |
Long-term debt and capital lease obligations | 1,009.3 |  |  | 2.2 |  |  | 12.5 |  |  | — |  |  | 1,024.0 |
Intercompany loan payable | — |  |  | 40.0 |  |  | 66.5 |  |  | (106.5 | ) |  | — |
Other long-term liabilities | 139.9 |  |  | 157.3 |  |  | 14.2 |  |  | — |  |  | 311.4 |
Total liabilities | 2,293.5 |  |  | 348.0 |  |  | 205.0 |  |  | (836.3 | ) |  | 2,010.2 |
Total shareholders' equity | 460.7 |  |  | 1,185.6 |  |  | 144.6 |  |  | (1,330.2 | ) |  | 460.7 |
Total liabilities and shareholders' equity | $ | 2,754.2 |  |  | $ | 1,533.6 |  |  | $ | 349.6 |  |  | $ | (2,166.5 | ) |  | $ | 2,470.9 |
Condensed Consolidating Balance Sheet As of December 31, 2016
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
ASSETS |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.3 |  |  | $ | 1.9 |  |  | $ | 6.8 |  |  | $ | — |  |  | $ | 9.0 |
Receivables, less allowances for doubtful accounts | 439.7 |  |  | 37.7 |  |  | 86.2 |  |  | — |  |  | 563.6 |
Intercompany receivables | — |  |  | 720.5 |  |  | — |  |  | (720.5 | ) |  | — |
Inventories | 102.2 |  |  | 115.9 |  |  | 47.3 |  |  | — |  |  | 265.4 |
Other current assets | 40.6 |  |  | 15.7 |  |  | 8.3 |  |  | — |  |  | 64.6 |
Total current assets | 582.8 |  |  | 891.7 |  |  | 148.6 |  |  | (720.5 | ) |  | 902.6 |
Property, plant and equipment—net | 777.3 |  |  | 577.9 |  |  | 164.7 |  |  | — |  |  | 1,519.9 |
Investment in consolidated entities | 1,288.9 |  |  | 61.8 |  |  | — |  |  | (1,350.7 | ) |  | — |
Intangible assets—net | 12.0 |  |  | 20.3 |  |  | 27.4 |  |  | — |  |  | 59.7 |
Intercompany loan receivable | 104.2 |  |  | — |  |  | — |  |  | (104.2 | ) |  | — |
Other long-term assets | 43.5 |  |  | 10.1 |  |  | 34.3 |  |  | — |  |  | 87.9 |
Total assets | $ | 2,808.7 |  |  | $ | 1,561.8 |  |  | $ | 375.0 |  |  | $ | (2,175.4 | ) |  | $ | 2,570.1 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |
Accounts payable | $ | 159.3 |  |  | $ | 98.5 |  |  | $ | 65.7 |  |  | $ | — |  |  | $ | 323.5 |
Intercompany accounts payable | 711.2 |  |  | — |  |  | 9.3 |  |  | (720.5 | ) |  | — |
Short-term debt and current portion of long-term debt and capital lease obligations | 79.5 |  |  | 2.9 |  |  | 9.7 |  |  | — |  |  | 92.1 |
Other current liabilities | 253.9 |  |  | 76.2 |  |  | 28.9 |  |  | — |  |  | 359.0 |
Total current liabilities | 1,203.9 |  |  | 177.6 |  |  | 113.6 |  |  | (720.5 | ) |  | 774.6 |
Long-term debt and capital lease obligations | 1,022.0 |  |  | 2.4 |  |  | 14.3 |  |  | — |  |  | 1,038.7 |
Intercompany loan payable | — |  |  | 39.9 |  |  | 64.3 |  |  | (104.2 | ) |  | — |
Other long-term liabilities | 141.3 |  |  | 150.0 |  |  | 24.0 |  |  | — |  |  | 315.3 |
Total liabilities | 2,367.2 |  |  | 369.9 |  |  | 216.2 |  |  | (824.7 | ) |  | 2,128.6 |
Total shareholders' equity | 441.5 |  |  | 1,191.9 |  |  | 158.8 |  |  | (1,350.7 | ) |  | 441.5 |
Total liabilities and shareholders' equity | $ | 2,808.7 |  |  | $ | 1,561.8 |  |  | $ | 375.0 |  |  | $ | (2,175.4 | ) |  | $ | 2,570.1 |
Condensed Consolidating Statement of Cash Flows | Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2017
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net cash from operating activities | $ | 63.9 |  |  | $ | (1.6 | ) |  | $ | 1.0 |  |  | $ | — |  |  | $ | 63.3 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (4.3 | ) |  | (16.6 | ) |  | (2.5 | ) |  | — |  |  | (23.4 | )
Intercompany investing activities | (5.3 | ) |  | 3.2 |  |  | 0.4 |  |  | 1.7 |  |  | — |
Other investing activities | (3.9 | ) |  | 18.9 |  |  | 0.1 |  |  | — |  |  | 15.1 |
Net cash from (used in) investing activities | (13.5 | ) |  | 5.5 |  |  | (2.0 | ) |  | 1.7 |  |  | (8.3 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from issuance of long-term debt | 375.0 |  |  | — |  |  | — |  |  | — |  |  | 375.0 |
Payments of long-term debt and capital lease obligations | (383.3 | ) |  | (0.8 | ) |  | (2.0 | ) |  | — |  |  | (386.1 | )
Borrowings on revolving credit facilities | 65.1 |  |  | — |  |  | 1.9 |  |  | — |  |  | 67.0 |
Payments on revolving credit facilities | (80.5 | ) |  | — |  |  | (3.3 | ) |  | — |  |  | (83.8 | )
Payment of cash dividends | (16.8 | ) |  | — |  |  | — |  |  | — |  |  | (16.8 | )
Intercompany financing activities | (0.8 | ) |  | — |  |  | 2.5 |  |  | (1.7 | ) |  | — |
Other financing activities | (9.2 | ) |  | (4.1 | ) |  | — |  |  | — |  |  | (13.3 | )
Net cash from (used in) financing activities | (50.5 | ) |  | (4.9 | ) |  | (0.9 | ) |  | (1.7 | ) |  | (58.0 | )
Effect of exchange rates on cash and cash equivalents | — |  |  | (0.1 | ) |  | 0.6 |  |  | — |  |  | 0.5 |
Net increase (decrease) in cash and cash equivalents | (0.1 | ) |  | (1.1 | ) |  | (1.3 | ) |  | — |  |  | (2.5 | )
Cash and cash equivalents at beginning of period | 0.3 |  |  | 1.9 |  |  | 6.8 |  |  | — |  |  | 9.0 |
Cash and cash equivalents at end of period | $ | 0.2 |  |  | $ | 0.8 |  |  | $ | 5.5 |  |  | $ | — |  |  | $ | 6.5 |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2016
| Quad/Graphics, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Total
OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |
Net cash from operating activities | $ | 78.6 |  |  | $ | 25.2 |  |  | $ | 8.8 |  |  | $ | — |  |  | $ | 112.6 |
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | (12.4 | ) |  | (6.9 | ) |  | (6.9 | ) |  | — |  |  | (26.2 | )
Intercompany investing activities | 14.5 |  |  | (17.4 | ) |  | (0.1 | ) |  | 3.0 |  |  | — |
Other investing activities | 0.6 |  |  | 0.4 |  |  | 1.5 |  |  | — |  |  | 2.5 |
Net cash from (used in) investing activities | 2.7 |  |  | (23.9 | ) |  | (5.5 | ) |  | 3.0 |  |  | (23.7 | )
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |
Proceeds from issuance of long-term debt | — |  |  | — |  |  | 18.4 |  |  | — |  |  | 18.4 |
Payments of long-term debt and capital lease obligations | (115.8 | ) |  | (0.9 | ) |  | — |  |  | — |  |  | (116.7 | )
Borrowings on revolving credit facilities | 273.8 |  |  | — |  |  | 19.8 |  |  | — |  |  | 293.6 |
Payments on revolving credit facilities | (238.5 | ) |  | — |  |  | (20.0 | ) |  | — |  |  | (258.5 | )
Purchases of treasury stock | (8.8 | ) |  | — |  |  | — |  |  | — |  |  | (8.8 | )
Payment of cash dividends | (15.4 | ) |  | — |  |  | — |  |  | — |  |  | (15.4 | )
Intercompany financing activities | 25.5 |  |  | 0.1 |  |  | (22.6 | ) |  | (3.0 | ) |  | — |
Other financing activities | (2.1 | ) |  | — |  |  | — |  |  | — |  |  | (2.1 | )
Net cash from (used in) financing activities | (81.3 | ) |  | (0.8 | ) |  | (4.4 | ) |  | (3.0 | ) |  | (89.5 | )
Effect of exchange rates on cash and cash equivalents | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net increase (decrease) in cash and cash equivalents | — |  |  | 0.5 |  |  | (1.0 | ) |  | — |  |  | (0.5 | )
Cash and cash equivalents at beginning of period | 2.3 |  |  | 2.8 |  |  | 5.7 |  |  | — |  |  | 10.8 |
Cash and cash equivalents at end of period | $ | 2.3 |  |  | $ | 3.3 |  |  | $ | 4.7 |  |  | $ | — |  |  | $ | 10.3 |

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