Supplemental Guarantor Condensed Consolidating Financial Statements

9 Months Ended

May 31, 2011

Supplemental Guarantor Condensed Consolidating Financial Statements [Abstract]

Supplemental Guarantor Condensed Consolidating Financial Statements

16. Supplemental Guarantor Condensed Consolidating Financial Statements

          In fiscal 2010, ABL, the wholly-owned and principal operating subsidiary of Acuity Brands, refinanced its outstanding debt through a bond offering of a $350.0 aggregate principal amount of senior unsecured notes due in fiscal 2020.

          In accordance with the registration rights agreement by and between ABL, as issuer, and Acuity Brands and ABL IP Holding LLC—a wholly-owned subsidiary of Acuity Brands — as guarantors (“ABL IP Holding”, and, together with Acuity Brands, the “Guarantors”), and the initial purchases of the Notes, ABL and the Guarantors to the Notes filed a registration statement with the SEC for an offer to exchange the Notes for an issue of SEC-registered notes with identical terms. Due to the filing of the registration statement and offer to exchange, the Company determined the need for compliance with Rule 3-10 of SEC Regulation S-X (“Rule 3-10”). In lieu of providing separate audited financial statements for ABL and ABL IP Holding, the Company has included the accompanying Condensed Consolidating Financial Statements in accordance with Rule 3-10(d) of SEC Regulation S-X. The column marked “Parent” represents the financial condition, results of operations, and cash flows of Acuity Brands. The column marked “Subsidiary Issuer” represents the financial condition, results of operations, and cash flows of ABL. The column entitled “Subsidiary Guarantor” represents the financial condition, results of operations, and cash flows of ABL IP Holding. Lastly, the column listed as “Non-Guarantors” includes the financial condition, results of operations, and cash flows of the non-guarantor direct and indirect subsidiaries of Acuity Brands, which consist primarily of foreign subsidiaries. Eliminations were necessary in order to arrive at consolidated amounts. In addition, the equity method of accounting was used to calculate investments in subsidiaries. Accordingly, this basis of presentation is not intended to present our financial condition, results of operations, or cash flows for any purpose other than to comply with the specific requirements for parent-subsidiary guarantor reporting.

CONDENSED CONSOLIDATING BALANCE SHEETS

	At May 31, 2011
				Subsidiary			Subsidiary			Non-
	Parent			Issuer			Guarantor			Guarantors		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	128.7		$	0.2		$	—		$	31.9	$	—		$	160.8
Accounts receivable, net		—			217.8			—			37.5		—			255.3
Inventories		—			164.6			—			13.4		—			178.0
Other current assets		8.4			19.0			—			5.0		—			32.4
Total Current Assets		137.1			401.6			—			87.8		—			626.5
Property, Plant, and Equipment, net		—			109.0			—			38.0		—			147.0
Goodwill		—			489.9			2.7			82.8		—			575.4
Intangible assets		—			86.3			120.7			5.5		—			212.5
Other long-term assets		6.3			17.3			—			6.0		—			29.6
Investments in subsidiaries		755.8			161.8			—			0.1		(917.7	)		—
Total Assets	$	899.2		$	1,265.9		$	123.4		$	220.2	$	(917.7	)	$	1,591.0
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	0.4		$	175.0		$	—		$	12.9	$	—		$	188.3
Intercompany payable (receivable)		53.2			(7.7	)		(72.2	)		26.7		—			—
Other accrued liabilities		22.6			89.2			—			13.2		—			125.0
Total Current Liabilities		76.2			256.5			(72.2	)		52.8		—			313.3
Long-Term Debt		—			353.4			—			—		—			353.4
Deferred Income Taxes		(14.2	)		28.5			—			0.2		—			14.5
Other Long-Term Liabilities		58.2			54.9			—			17.7		—			130.8
Total Stockholders’ Equity		779.0			572.6			195.6			149.5		(917.7	)		779.0
Total Liabilities and Stockholders’ Equity	$	899.2		$	1,265.9		$	123.4		$	220.2	$	(917.7	)	$	1,591.0

CONDENSED CONSOLIDATING BALANCE SHEETS

	At August 31, 2010
				Subsidiary			Subsidiary			Non-
	Parent			Issuer			Guarantor			Guarantors		Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	163.1		$	0.4		$	—		$	27.5	$	—		$	191.0
Accounts receivable, net		—			219.0			—			36.1		—			255.1
Inventories		—			139.5			—			9.5		—			149.0
Other current assets		7.2			19.0			—			5.0		—			31.2
Total Current Assets		170.3			377.9			—			78.1		—			626.3
Property, Plant, and Equipment, net		—			107.3			—			31.1		—			138.4
Goodwill		—			478.4			2.7			34.5		—			515.6
Intangible assets		—			72.8			124.3			2.4		—			199.5
Other long-term assets		4.6			7.2			—			12.0		—			23.8
Investments in subsidiaries		635.7			97.4			—			0.2		(733.3	)		—
Total Assets	$	810.6		$	1,141.0		$	127.0		$	158.3	$	(733.3	)	$	1,503.6
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	0.7		$	178.5		$	—		$	15.8	$	—		$	195.0
Intercompany payable (receivable)		63.8			(30.0	)		(60.2	)		26.4		—			—
Other accrued liabilities		15.6			97.6			—			13.1		—			126.3
Total Current Liabilities		80.1			246.1			(60.2	)		55.3		—			321.3
Long-Term Debt		—			353.3			—			—		—			353.3
Deferred Income Taxes		(18.5	)		28.5			—			0.2		—			10.2
Other Long-Term Liabilities		54.6			54.0			—			15.8		—			124.4
Total Stockholders’ Equity		694.4			459.1			187.2			87.0		(733.3	)		694.4
Total Liabilities and Stockholders’ Equity	$	810.6		$	1,141.0		$	127.0		$	158.3	$	(733.3	)	$	1,503.6

CONDENSED CONSOLIDATING STATEMENTS OF INCOME

	Three Months Ended May 31, 2011
				Subsidiary		Subsidiary		Non-
	Parent			Issuer		Guarantor		Guarantors			Eliminations			Consolidated
Net Sales:
External sales	$	—		$	406.3	$	—	$	52.0		$	—		$	458.3
Intercompany sales		—			—		6.6		19.2			(25.8	)		—
Total Sales		—			406.3		6.6		71.2			(25.8	)		458.3
Cost of Products Sold		—			231.6		—		56.2			(19.2	)		268.6
Gross Profit		—			174.7		6.6		15.0			(6.6	)		189.7
Selling, Distribution, and Administrative Expenses		6.7			121.4		1.1		16.9			(6.6	)		139.5
Intercompany charges		(0.9	)		0.5		—		0.4			—			—
Operating (Loss) Profit		(5.8	)		52.8		5.5		(2.3	)		—			50.2
Interest expense (income), net		2.1			5.5		—		(0.1	)		—			7.5
Equity earnings in subsidiaries		(31.9	)		1.4		—		—			30.5			—
Miscellaneous (income) expense, net		(0.1	)		0.5		—		0.5			—			0.9
Income before Provision for Income Taxes		24.1			45.4		5.5		(2.7	)		(30.5	)		41.8
Provision for Income Taxes		(3.0	)		15.7		2.5		(0.5	)		—			14.7
Net Income	$	27.1		$	29.7	$	3.0	$	(2.2	)	$	(30.5	)	$	27.1

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(in millions)

	Three Months Ended May 31, 2010
				Subsidiary			Subsidiary		Non-
	Parent			Issuer			Guarantor		Guarantors			Eliminations			Consolidated
Net Sales:
External sales	$	—		$	364.9		$	—	$	42.7		$	—		$	407.6
Intercompany sales		—			—			7.0		14.6			(21.6	)		—
Total Sales		—			364.9			7.0		57.3			(21.6	)		407.6
Cost of Products Sold		—			217.5			—		41.0			(14.5	)		244.0
Gross Profit		—			147.4			7.0		16.3			(7.1	)		163.6
Selling, Distribution, and Administrative Expenses		6.4			111.9			1.0		12.4			(7.0	)		124.7
Intercompany charges		(0.9	)		0.5			—		0.4			—			—
Special Charge		—			(0.4	)		—		0.1			—			(0.3	)
Operating (Loss) Profit		(5.5	)		35.4			6.0		3.4			(0.1	)		39.2
Interest expense, net		2.0			5.4			—		(0.1	)		—			7.3
Equity earnings in subsidiaries		(27.0	)		(2.7	)		—		—			29.7			—
Miscellaneous (income) expense, net		(0.1	)		(0.8	)		—		(0.1	)		—			(1.0	)
Income before Provision for Income Taxes		19.6			33.5			6.0		3.6			(29.8	)		32.9
Provision for Income Taxes		(1.7	)		10.0			2.1		1.2			—			11.6
Net Income	$	21.3		$	23.5		$	3.9	$	2.4		$	(29.8	)	$	21.3

CONDENSED CONSOLIDATING STATEMENTS OF INCOME

	Nine Months Ended May 31, 2011
				Subsidiary			Subsidiary		Non-
	Parent			Issuer			Guarantor		Guarantors			Eliminations			Consolidated
Net Sales:
External sales	$	—		$	1,149.6		$	—	$	149.9		$	—		$	1,299.5
Intercompany sales		—			—			19.3		53.5			(72.8	)		—
Total Sales		—			1,149.6			19.3		203.4			(72.8	)		1,299.5
Cost of Products Sold		—			668.4			—		155.0			(53.5	)		769.9
Gross Profit		—			481.2			19.3		48.4			(19.3	)		529.6
Selling, Distribution, and Administrative Expenses		18.4			350.2			3.5		43.9			(19.3	)		396.7
Intercompany charges		(2.6	)		1.6			—		1.0			—			—
Operating (Loss) Profit		(15.8	)		129.4			15.8		3.5			—			132.9
Interest expense (income), net		6.3			16.4			—		(0.2	)		—			22.5
Equity earnings in subsidiaries		(84.8	)		(2.9	)		—		0.1			87.6			—
Miscellaneous (income) expense, net		(0.3	)		1.0			—		2.2			—			2.9
Income before Provision for Income Taxes		63.0			114.9			15.8		1.4			(87.6	)		107.5
Provision for Income Taxes		(8.3	)		36.5			7.4		0.6			—			36.2
Net Income	$	71.3		$	78.4		$	8.4	$	0.8		$	(87.6	)	$	71.3

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
(in millions)

	Nine Months Ended May 31, 2010
				Subsidiary			Subsidiary		Non-
	Parent			Issuer			Guarantor		Guarantors			Eliminations			Consolidated
Net Sales:
External sales	$	—		$	1,039.3		$	—	$	143.4		$	—		$	1,182.7
Intercompany sales		—			—			19.9		44.5			(64.4	)		—
Total Sales		—			1,039.3			19.9		187.9			(64.4	)		1,182.7
Cost of Products Sold		—			617.8			—		132.3			(44.5	)		705.6
Gross Profit		—			421.5			19.9		55.6			(19.9	)		477.1
Selling, Distribution, and Administrative Expenses		17.4			322.0			3.0		39.7			(19.9	)		362.2
Intercompany charges		(2.6	)		1.4			—		1.2			—			(0.0	)
Special Charge		—			5.1			—		0.1			—			5.2
Operating (Loss) Profit		(14.8	)		93.0			16.9		14.6			—			109.7
Interest expense (income), net		5.9			16.3			—		(0.1	)		—			22.1
Equity earnings in subsidiaries		(66.4	)		(10.5	)		—		0.1			76.8			—
Miscellaneous (income) expense, net		(0.2	)		(1.6	)		—		0.7			—			(1.1	)
Loss on early debt extinguishment		—			10.5			—		—			—			10.5
Income before Provision for Income Taxes		45.9			78.3			16.9		13.9			(76.8	)		78.2
Provision for Income Taxes		(5.9	)		22.0			5.9		4.4			—			26.4
Income from Continuing Operations		51.8			56.3			11.0		9.5			(76.8	)		51.8
Loss from Discontinued Operations		0.6			—			—		—			—			0.6
Net Income	$	52.4		$	56.3		$	11.0	$	9.5		$	(76.8	)	$	52.4

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Nine Months Ended May 31, 2011
				Subsidiary			Subsidiary		Non-
	Parent			Issuer			Guarantor		Guarantors			Eliminations			Consolidated
Net Cash Provided by (Used for) Operating Activities	$	64.9		$	12.7		$	—	$	4.0		$	—		$	81.6
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment		—			(14.8	)		—		(2.6	)		—			(17.4	)
Proceeds from sale of property, plant, and equipment		—			1.3			—		—			—			1.3
Investments in subsidiaries		(90.4	)		—			—		—			90.4			—
Acquisitions of businesses and intangible assets		—			(90.4	)		—		—			—			(90.4	)
Net Cash Used for Investing Activities		(90.4	)		(103.9	)		—		(2.6	)		90.4			(106.5	)
Cash Provided by (Used for) Financing Activities:
Proceeds from stock option exercises and other		5.8			—			—		—			—			5.8
Repurchases of common stock		(2.9	)		—			—		—			—			(2.9	)
Excess tax benefits from share-based payments		5.1			—			—		—			—			5.1
Intercompany capital		—			90.4			—		—			(90.4	)		—
Dividends paid		(16.9	)		—			—		—			—			(16.9	)
Net Cash (Used for) Provided by Financing Activities		(8.9	)		90.4			—		—			(90.4	)		(8.9	)
Effect of Exchange Rate Changes on Cash		—			0.6			—		3.0			—			3.6
Net Change in Cash and Cash Equivalents		(34.4	)		(0.2	)		—		4.4			—			(30.2	)
Cash and Cash Equivalents at Beginning of Period		163.1			0.4			—		27.5			—			191.0
Cash and Cash Equivalents at End of Period	$	128.7		$	0.2		$	—	$	31.9		$	—		$	160.8

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

	Nine Months Ended May 31, 2010
				Subsidiary			Subsidiary		Non-
	Parent			Issuer			Guarantor		Guarantors			Eliminations		Consolidated
Net Cash Provided by (Used for) Operating Activities	$	177.1		$	(94.6	)	$	—	$	14.5		$	—	$	97.0
Cash Provided by (Used for) Investing Activities:
Purchases of property, plant, and equipment		—			(15.3	)		—		(0.6	)		—		(15.9	)
Proceeds from sale of property, plant, and equipment		—			0.1			—		0.1			—		0.2
Net Cash Used for Investing Activities		—			(15.2	)		—		(0.5	)		—		(15.7	)
Cash Provided by (Used for) Financing Activities:
Repayments of long-term debt		—			(237.9	)		—		—			—		(237.9	)
Issuance of long-term debt		—			346.5			—		—			—		346.5
Intercompany borrowings (payments)		—			2.4			—		(2.4	)		—		—
Proceeds from stock option exercises and other		4.9			—			—		—			—		4.9
Excess tax benefits from share-based payments		1.5			—			—		—			—		1.5
Dividends paid		(17.0	)		—			—		—			—		(17.0	)
Net Cash (Used for) Provided by Financing Activities		(10.6	)		111.0			—		(2.4	)		—		98.0
Effect of Exchange Rate Changes on Cash		—			(0.5	)		—		(3.0	)		—		(3.5	)
Net Change in Cash and Cash Equivalents		166.5			0.7			—		8.6			—		175.8
Cash and Cash Equivalents at Beginning of Period		2.4			0.6			—		15.7			—		18.7
Cash and Cash Equivalents at End of Period	$	168.9		$	1.3		$	—	$	24.3		$	—	$	194.5