Guarantor Statements (Tables)

6 Months Ended

Mar. 31, 2019

Guarantor Statements [Abstract]

Statement Of Financial Position

Statement of Financial Position			Guarantor		Nonguarantor
As of March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Assets
Cash and cash equivalents	$	13.4	$	0.7	$	153.9	$	—	$	168.0
Trade receivables, net		175.5		126.0		169.0		—		470.5
Intercompany receivables		—		1,639.5		1,114.1		(2,753.6)		—
Other receivables		108.4		2.8		51.5		—		162.7
Inventories		290.7		260.4		239.6		(14.5)		776.2
Prepaid expenses and other		34.3		7.5		24.5		—		66.3
Current assets of business held for sale		—		—		—		—		—
Total current assets		622.3		2,036.9		1,752.6		(2,768.1)		1,643.7
Property, plant and equipment, net		190.7		121.0		158.1		—		469.8
Long-term intercompany receivables		13.8		57.3		11.0		(82.1)		—
Deferred charges and other		118.9		0.9		67.5		(139.8)		47.5
Investment		237.9		—		—		—		237.9
Goodwill		629.9		544.2		275.2		—		1,449.3
Intangible assets, net		738.9		593.2		251.7		—		1,583.8
Investments in subsidiaries		4,353.1		1,635.0		(2.9)		(5,985.2)		—
Total assets	$	6,905.5	$	4,988.5	$	2,513.2	$	(8,975.2)	$	5,432.0
Liabilities and Shareholder's Equity
Current portion of long-term debt	$	2.1	$	4.5	$	9.6	$	(0.1)	$	16.1
Accounts payable		102.1		120.6		234.5		—		457.2
Intercompany accounts payable		2,495.1		129.1		95.3		(2,719.5)		—
Accrued wages and salaries		24.3		3.8		22.2		—		50.3
Accrued interest		33.5		—		—		—		33.5
Other current liabilities		141.8		19.8		276.9				438.5
Current liabilities of business held for sale		—		—		—		—		—
Total current liabilities		2,798.9		277.8		638.5		(2,719.6)		995.6
Long-term debt, net of current portion		2,200.3		54.9		12.0		—		2,267.2
Long-term intercompany debt		10.9		—		105.2		(116.1)		—
Deferred income taxes		175.9		299.7		63.1		(143.7)		395.0
Other long-term liabilities		73.0		3.0		59.4		—		135.4
Total liabilities		5,259.0		635.4		878.2		(2,979.4)		3,793.2
Shareholder's equity:
Other capital		2,116.0		439.4		(1,087.9)		629.7		2,097.2
Accumulated (deficit) earnings		(247.3)		4,119.6		2,915.1		(7,034.6)		(247.2)
Accumulated other comprehensive loss		(222.2)		(205.9)		(203.3)		409.1		(222.3)
Total shareholder's equity		1,646.5		4,353.1		1,623.9		(5,995.8)		1,627.7
Non-controlling interest		—		—		11.1		—		11.1
Total equity		1,646.5		4,353.1		1,635.0		(5,995.8)		1,638.8
Total liabilities and equity	$	6,905.5	$	4,988.5	$	2,513.2	$	(8,975.2)	$	5,432.0

NOTE 21 - GUARANTOR STATEMENTS – SB/RH (continued)

Statement of Financial Position			Guarantor		Nonguarantor
As of September 30, 2018  (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Assets
Cash and cash equivalents	$	276.6	$	1.8	$	227.0	$	—	$	505.4
Trade receivables, net		108.9		42.9		165.3		—		317.1
Intercompany receivables		—		1,648.3		283.0		(1,931.3)		—
Other receivables		65.7		1.8		27.6		—		95.1
Inventories		228.5		162.6		204.6		(12.1)		583.6
Prepaid expenses and other		35.3		4.0		23.6		—		62.9
Current assets of business held for sale		551.2		1,379.0		482.5		(10.1)		2,402.6
Total current assets		1,266.2		3,240.4		1,413.6		(1,953.5)		3,966.7
Property, plant and equipment, net		222.9		122.1		155.0		—		500.0
Long-term intercompany receivables		321.3		70.3		11.6		(403.2)		—
Deferred charges and other		200.4		0.6		68.6		(195.4)		74.2
Goodwill		557.4		611.4		285.9		—		1,454.7
Intangible assets, net		770.4		609.5		261.9		—		1,641.8
Investments in subsidiaries		4,900.7		1,262.5		(2.9)		(6,160.3)		—
Total assets	$	8,239.3	$	5,916.8	$	2,193.7	$	(8,712.4)	$	7,637.4
Liabilities and Shareholder's Equity
Current portion of long-term debt	$	535.0	$	4.3	$	7.8	$	(0.2)	$	546.9
Accounts payable		222.4		124.2		238.1		—		584.7
Intercompany accounts payable		1,878.0		—		35.1		(1,913.1)		—
Accrued wages and salaries		24.6		1.5		29.3		—		55.4
Accrued interest		55.0		—		—		—		55.0
Other current liabilities		59.3		15.3		77.8		(0.1)		152.3
Current liabilities of business held for sale		81.7		157.8		298.1		—		537.6
Total current liabilities		2,856.0		303.1		686.2		(1,913.4)		1,931.9
Long-term debt, net of current portion		3,615.3		57.3		13.8		—		3,686.4
Long-term intercompany debt		11.6		295.0		114.8		(421.4)		—
Deferred income taxes		59.4		357.6		70.6		(200.6)		287.0
Other long-term liabilities		71.5		3.1		45.8		—		120.4
Total liabilities		6,613.8		1,016.1		931.2		(2,535.4)		6,025.7
Shareholder's equity:
Other capital		2,096.8		803.7		(1,361.9)		534.4		2,073.0
Accumulated (deficit) earnings		(235.6)		4,303.0		2,814.5		(7,117.4)		(235.5)
Accumulated other comprehensive loss		(235.7)		(206.0)		(200.0)		406.0		(235.7)
Total shareholder's equity		1,625.5		4,900.7		1,252.6		(6,177.0)		1,601.8
Non-controlling interest		—		—		9.9		—		9.9
Total equity		1,625.5		4,900.7		1,262.5		(6,177.0)		1,611.7
Total liabilities and equity	$	8,239.3	$	5,916.8	$	2,193.7	$	(8,712.4)	$	7,637.4

Statement Of Income

Statement of Income			Guarantor		Nonguarantor
Three month period ended March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	432.3	$	385.7	$	458.9	$	(370.2)	$	906.7
Cost of goods sold		329.8		286.0		353.0		(367.8)		601.0
Restructuring and related charges		—		—		0.2		—		0.2
Gross profit		102.5		99.7		105.7		(2.4)		305.5
Selling		59.4		33.1		58.9		—		151.4
General and administrative		48.6		22.5		11.8		(0.5)		82.4
Research and development		6.1		2.4		2.7		—		11.2
Transaction related charges		7.6		(1.3)		(1.0)		—		5.3
Restructuring and related charges		9.5		0.3		2.6		—		12.4
Total operating expense		131.2		57.0		75.0		(0.5)		262.7
Operating (loss) income		(28.7)		42.7		30.7		(1.9)		42.8
Interest expense (income)		55.7		1.2		(8.5)		(0.1)		48.3
Other non-operating (income) expense, net		(106.6)		(399.1)		(516.5)		1,046.4		24.2
Income (loss) from operations before income taxes		22.2		440.6		555.7		(1,048.2)		(29.7)
Income tax expense (benefit)		40.3		(59.6)		2.4		(0.4)		(17.3)
Net (loss) income from continuing operations		(18.1)		500.2		553.3		(1,047.8)		(12.4)
Income (loss) from discontinued operations, net of tax		783.9		(5.0)		(2.7)		7.4		783.6
Net income		765.8		495.2		550.6		(1,040.4)		771.2
Net income attributable to non-controlling interest		—		—		1.0		—		1.0
Net income attributable to controlling interest	$	765.8	$	495.2	$	549.6	$	(1,040.4)	$	770.2

Statement of Income			Guarantor		Nonguarantor
Six month period ended March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	866.1	$	672.9	$	990.7	$	(742.7)	$	1,787.0
Cost of goods sold		648.7		505.3		761.1		(740.4)		1,174.7
Restructuring and related charges		—		—		1.0		—		1.0
Gross profit		217.4		167.6		228.6		(2.3)		611.3
Selling		120.7		60.5		125.8		(0.1)		306.9
General and administrative		116.1		41.6		23.9		(1.0)		180.6
Research and development		11.8		4.8		5.7		—		22.3
Transaction related charges		21.1		(0.6)		(8.9)		—		11.6
Restructuring and related charges		13.6		1.0		5.9		—		20.5
Total operating expense		283.3		107.3		152.4		(1.1)		541.9
Operating (loss) income		(65.9)		60.3		76.2		(1.2)		69.4
Interest expense (income)		93.1		6.1		(7.5)		(0.2)		91.5
Other non-operating (income) expense, net		(130.5)		(430.4)		(515.8)		1,101.7		25.0
(Loss) income from operations before income taxes		(28.5)		484.6		599.5		(1,102.7)		(47.1)
Income tax benefit expense (benefit)		9.2		(38.9)		14.8		(0.9)		(15.8)
Net (loss) income from continuing operations		(37.7)		523.5		584.7		(1,101.8)		(31.3)
Income (loss) from discontinued operations, net of tax		700.1		(82.3)		(7.5)		90.1		700.4
Net income		662.4		441.2		577.2		(1,011.7)		669.1
Net income attributable to non-controlling interest		—		—		1.2		—		1.2
Net income attributable to controlling interest	$	662.4	$	441.2	$	576.0	$	(1,011.7)	$	667.9

NOTE 21 - GUARANTOR STATEMENTS – SB/RH (continued)

Statement of Income			Guarantor		Nonguarantor
Three month period ended April 1, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	401.0	$	352.0	$	459.7	$	(330.1)	$	882.6
Cost of goods sold		290.4		260.3		352.4		(328.2)		574.9
Restructuring and related charges		—		0.1		1.6		—		1.7
Gross profit		110.6		91.6		105.7		(1.9)		306.0
Selling		60.0		31.3		61.1		—		152.4
General and administrative		19.5		21.7		15.0		—		56.2
Research and development		6.1		2.1		3.3		—		11.5
Transaction related charges		7.0		1.5		1.1		—		9.6
Restructuring and related charges		16.0		1.0		1.6		—		18.6
Total operating expense		108.6		57.6		82.1		—		248.3
Operating income		2.0		34.0		23.6		(1.9)		57.7
Interest expense		36.6		4.8		0.7		(0.1)		42.0
Other non-operating (income) expense, net		(151.6)		(23.2)		(0.1)		176.5		1.6
Income from operations before income taxes		117.0		52.4		23.0		(178.3)		14.1
Income tax  expense (benefit)		100.7		(97.8)		(3.3)		(0.4)		(0.8)
Net income from continuing operations		16.3		150.2		26.3		(177.9)		14.9
Income from discontinued operations, net of tax		11.2		27.0		16.5		(43.4)		11.3
Net income		27.5		177.2		42.8		(221.3)		26.2
Net income attributable to non-controlling interest		—		—		0.1		—		0.1
Net income attributable to controlling interest	$	27.5	$	177.2	$	42.7	$	(221.3)	$	26.1

Statement of Income			Guarantor		Nonguarantor
Six month period ended April 1, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net sales	$	865.8	$	570.8	$	1,006.0	$	(637.7)	$	1,804.9
Cost of goods sold		639.7		415.1		758.7		(635.2)		1,178.3
Restructuring and related charges		—		0.1		1.9		—		2.0
Gross profit		226.1		155.6		245.4		(2.5)		624.6
Selling		121.4		58.0		126.9		(0.2)		306.1
General and administrative		52.2		42.3		30.6		—		125.1
Research and development		11.9		4.3		6.8		—		23.0
Transaction related charges		9.8		2.8		2.3		—		14.9
Restructuring and related charges		32.0		1.0		2.5		—		35.5
Total operating expense		227.3		108.4		169.1		(0.2)		504.6
Operating (loss) income		(1.2)		47.2		76.3		(2.3)		120.0
Interest expense		70.2		9.2		1.2		(0.1)		80.5
Other non-operating (income) expense, net		(238.5)		(65.3)		(0.1)		307.1		3.2
Income from operations before income taxes		167.1		103.3		75.2		(309.3)		36.3
Income tax expense (benefit)		3.2		(134.0)		5.3		(1.0)		(126.5)
Net income from continuing operations		163.9		237.3		69.9		(308.3)		162.8
Income from discontinued operations, net of tax		29.7		46.6		32.6		(76.1)		32.8
Net income		193.6		283.9		102.5		(384.4)		195.6
Net income attributable to non-controlling interest		—		—		1.0		—		1.0
Net income attributable to controlling interest	$	193.6	$	283.9	$	101.5	$	(384.4)	$	194.6

Statement Of Comprehensive Income

Statement of Comprehensive Income			Guarantor		Nonguarantor
Three month period ended March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	765.8	$	495.2	$	550.6	$	(1,040.4)	$	771.2
Other comprehensive income, net of tax:
Foreign currency translation loss		(2.2)		(2.2)		(6.0)		8.1		(2.3)
Unrealized gain (loss) on derivative instruments		4.9		(2.1)		(2.1)		4.2		4.9
Deconsolidation of discontinued operations		21.8		21.8		21.8		(43.5)		21.9
Other comprehensive income		24.5		17.5		13.7		(31.2)		24.5
Comprehensive income		790.3		512.7		564.3		(1,071.6)		795.7
Comprehensive income attributable to controlling interest	$	790.3	$	512.7	$	564.3	$	(1,071.6)	$	795.7

Statement of Comprehensive Income			Guarantor		Nonguarantor
Six month period ended March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	662.4	$	441.2	$	577.2	$	(1,011.7)	$	669.1
Other comprehensive income, net of tax:
Foreign currency translation loss		(23.1)		(23.8)		(27.2)		51.0		(23.1)
Unrealized gain on derivative instruments		13.3		1.0		1.0		(2.0)		13.3
Defined benefit pension gain		1.5		1.1		1.1		(2.2)		1.5
Deconsolidation of discontinued operations		21.8		21.8		21.8		(43.5)		21.9
Other comprehensive income (loss)		13.5		0.1		(3.3)		3.3		13.6
Comprehensive income		675.9		441.3		573.9		(1,008.4)		682.7
Comprehensive income attributable to controlling interest	$	675.9	$	441.3	$	573.9	$	(1,008.4)	$	682.7

Statement of Comprehensive Income			Guarantor		Nonguarantor
Three month period ended April 1, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	27.5	$	177.2	$	42.8	$	(221.3)	$	26.2
Other comprehensive (loss) income, net of tax:
Net unrealized gain on foreign currency translation		24.2		24.2		25.1		(49.3)		24.2
Unrealized gain on hedging derivative instruments		(11.6)		(0.1)		(0.1)		0.2		(11.6)
Defined benefit pension gain		(0.5)		(0.8)		(0.8)		1.6		(0.5)
Other comprehensive income		12.1		23.3		24.2		(47.5)		12.1
Comprehensive income		39.6		200.5		67.0		(268.8)		38.3
Comprehensive income attributable to non-controlling interest		—		—		0.3		—		0.3
Comprehensive income attributable to controlling interest	$	39.6	$	200.5	$	66.7	$	(268.8)	$	38.0

Statement of Comprehensive Income			Guarantor		Nonguarantor
Six month period ended April 1, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net income	$	193.6	$	283.9	$	102.5	$	(384.4)	$	195.6
Other comprehensive income, net of tax:
Net unrealized gain on foreign currency translation		22.2		22.2		22.9		(45.1)		22.2
Unrealized (loss) gain on hedging derivative instruments		(9.8)		4.2		4.2		(8.4)		(9.8)
Defined benefit pension loss		(0.3)		(0.7)		(0.7)		1.3		(0.4)
Other comprehensive income		12.1		25.7		26.4		(52.2)		12.0
Comprehensive income		205.7		309.6		128.9		(436.6)		207.6
Comprehensive loss attributable to non-controlling interest		—		—		0.5		—		0.5
Comprehensive income attributable to controlling interest	$	205.7	$	309.6	$	128.4	$	(436.6)	$	207.1

Statement Of Cash Flows

Statement of Cash Flows			Guarantor		Nonguarantor
Six month period ended March 31, 2019 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net cash (used) provided by operating activities from continuing operations	$	353.6	$	313.8	$	2,009.7	$	(2,944.4)	$	(267.3)
Net cash provided by operating activities from discontinued operations		2.2		2.5		2.9		(261.6)		(254.0)
Net cash (used) provided by operating activities		355.8		316.3		2,012.6		(3,206.0)		(521.3)
Cash flows from investing activities		.
Purchases of property, plant and equipment		(13.4)		(7.0)		(6.7)		—		(27.1)
Proceeds from sales of property, plant and equipment		—		—		0.1		—		0.1
Proceeds from sale of discontinued operations, net of cash		2,854.4		—		—		—		2,854.4
Net cash used by investing activities from continuing operations		2,841.0		(7.0)		(6.6)		—		2,827.4
Net cash used by investing activities from discontinued operations		(1.1)		(2.5)		(1.7)		—		(5.3)
Net cash used by investing activities		2,839.9		(9.5)		(8.3)		—		2,822.1
Cash flows from financing activities
Proceeds from issuance of debt		126.0		—		10.3		—		136.3
Payment of debt		(2,074.5)		—		(18.1)		—		(2,092.6)
Payment of debt issuance costs		(0.1)		—		—		—		(0.1)
Payment of cash dividends to parent		(676.4)		—		—		—		(676.4)
Advances related to intercompany transactions		(832.8)		(307.9)		(2,065.3)		3,206.0		—
Net cash provided (used) by financing activities from continuing operations		(3,457.8)		(307.9)		(2,073.1)		3,206.0		(2,632.8)
Net cash used by financing activities from discontinued operations		(1.1)		—		(1.2)		—		(2.3)
Net cash provided (used) by financing activities		(3,458.9)		(307.9)		(2,074.3)		3,206.0		(2,635.1)
Effect of exchange rate changes on cash and cash equivalents		—		—		(3.1)		—		(3.1)
Net increase (decrease) in cash, cash equivalents and restricted cash		(263.2)		(1.1)		(73.1)		—		(337.4)
Cash, cash equivalents and restricted cash, beginning of period		285.5		1.8		227.0		—		514.3
Cash, cash equivalents and restricted cash, end of period	$	22.3	$	0.7	$	153.9	$	—	$	176.9

Statement of Cash Flows			Guarantor		Nonguarantor
Six month period ended April 1, 2018 (in millions)	Parent		Subsidiaries		Subsidiaries		Eliminations		Consolidated
Net cash provided (used) by operating activities from continuing operations	$	(245.5)	$	(32.7)	$	61.6	$	9.5	$	(207.1)
Net cash provided by operating activities from discontinued operations		2.8		2.9		1.3		(32.9)		(25.9)
Net cash provided (used) by operating activities		(242.7)		(29.8)		62.9		(23.4)		(233.0)
Cash flows from investing activities
Purchases of property, plant and equipment		(15.1)		(6.5)		(16.5)		—		(38.1)
Proceeds from sales of property, plant and equipment		0.6		0.1		0.1		—		0.8
Net cash used by investing activities from continuing operations		(14.5)		(6.4)		(16.4)		—		(37.3)
Net cash used by investing activities from discontinued operations		(2.7)		(2.9)		(4.6)		—		(10.2)
Net cash used by investing activities		(17.2)		(9.3)		(21.0)		—		(47.5)
Cash flows from financing activities
Proceeds from issuance of debt		570.5		—		10.8		—		581.3
Payment of debt		(37.4)		—		(4.0)		—		(41.4)
Payment of debt issuance costs		(0.3)		—		—		—		(0.3)
Payment of cash dividends to parent		(298.6)		—		—		—		(298.6)
Advances related to intercompany transactions		20.9		34.9		(79.2)		23.4		—
Net cash (used) provided by financing activities from continuing operations		255.1		34.9		(72.4)		23.4		241.0
Net cash used by financing activities from discontinued operations		—		—		3.3		—		3.3
Net cash (used) provided by financing activities		255.1		34.9		(69.1)		23.4		244.3
Effect of exchange rate changes on cash and cash equivalents		—		—		3.2		—		3.2
Net (decrease) increase in cash, cash equivalents and restricted cash		(4.8)		(4.2)		(24.0)		—		(33.0)
Cash, cash equivalents and restricted cash, beginning of period		21.3		4.8		157.4		—		183.5
Cash, cash equivalents and restricted cash, end of period	$	16.5	$	0.6	$	133.4	$	—	$	150.5