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Guarantor/Non-Guarantor Financial Information
 12 Months Ended
Dec. 31, 2019
Guarantor/Non-Guarantor Financial Information  
Guarantor/Non-Guarantor Financial Information Guarantor/Non-Guarantor Financial Information

The $450.0 million and $600.0 million aggregate principal amount of 2023 Senior Notes and 2026 Senior Notes (collectively the "Senior Notes"), respectively, are general unsecured senior obligations of Tempur Sealy International and are fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by the Combined Guarantor Subsidiaries. The $375.0 million aggregate principal amount of 2020 Senior Notes were general unsecured senior obligations at December 31, 2015 but were redeemed in full in 2016. The foreign subsidiaries (the "Combined Non-Guarantor Subsidiaries") represent the foreign operations of the Company and do not guarantee the Senior Notes. A subsidiary guarantor will be released from its obligations under the applicable indenture governing the Senior Notes when: (a) the subsidiary guarantor is sold or sells all or substantially all of its assets; (b) the subsidiary is declared "unrestricted" under the applicable indenture governing the Senior Notes; (c) the subsidiary’s guarantee of indebtedness under the 2019 Credit Agreement (as it may be amended, refinanced or replaced) is released (other than a discharge through repayment); or (d) the requirements for legal or covenant defeasance or discharge of the applicable indenture have been satisfied. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Company’s wholly-owned subsidiary guarantors and non-guarantor subsidiaries. The Company has accounted for its investments in its subsidiaries under the equity method.

The following financial information presents Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018, and the related Consolidated Statements of Income and Comprehensive Income and Cash Flows for the years ended December 31, 2019, 2018 and 2017 for Tempur Sealy International, Combined Guarantor Subsidiaries and Combined Non-Guarantor Subsidiaries.

TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Income and Comprehensive Income
Year Ended December 31, 2019
(in millions)

 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net sales
$
—

 
$
2,387.1

 
$
793.5

 
$
(74.6
)
 
$
3,106.0

Cost of sales
—

 
1,390.6

 
447.8

 
(74.6
)
 
1,763.8

Gross profit
—

 
996.5

 
345.7

 
—

 
1,342.2

Selling and marketing expenses
11.2

 
466.0

 
189.2

 
(0.1
)
 
666.3

General, administrative and other expenses
17.4

 
242.8

 
57.7

 
(2.6
)
 
315.3

Customer-related charges
—

 
29.8

 
—

 
—

 
29.8

Equity income in earnings of unconsolidated affiliates
—

 
—

 
(15.9
)
 
—

 
(15.9
)
Operating (loss) income
(28.6
)
 
257.9

 
114.7

 
2.7

 
346.7

 
 
 
 
 
 
 
 
 
 
Other expense, net:
 
 
 
 
 
 
 
 
 
Third party interest expense, net
56.3

 
26.7

 
2.7

 
—

 
85.7

Intercompany interest (income) expense, net
(9.8
)
 
13.2

 
(3.4
)
 
—

 
—

Interest expense (income), net
46.5

 
39.9

 
(0.7
)
 
—

 
85.7

Other (income) expense, net
—

 
(7.6
)
 
1.6

 
1.5

 
(4.5
)
Total other expense, net
46.5

 
32.3

 
0.9

 
1.5

 
81.2

 
 
 
 
 
 
 
 
 
 
Income from equity investees
250.7

 
84.3

 
—

 
(335.0
)
 
—

 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
175.6

 
309.9

 
113.8

 
(333.8
)
 
265.5

Income tax benefit (provision)
13.8

 
(59.2
)
 
(29.5
)
 
0.2

 
(74.7
)
Income from continuing operations
189.4

 
250.7

 
84.3

 
(333.6
)
 
190.8

Loss from discontinued operations, net of tax
—

 
—

 
—

 
(1.4
)
 
(1.4
)
Net income before non-controlling interests
189.4

 
250.7

 
84.3

 
(335.0
)
 
189.4

Less: Net loss attributable to non-controlling interest
(0.1
)
 
—

 
(0.1
)
 
0.1

 
(0.1
)
Net income attributable to Tempur Sealy International, Inc.
$
189.5

 
$
250.7

 
$
84.4

 
$
(335.1
)
 
$
189.5

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to Tempur Sealy International, Inc.
$
197.1

 
$
251.9

 
$
90.8

 
$
(342.7
)
 
$
197.1

 
TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Income and Comprehensive Income
Year Ended December 31, 2018
(in millions)

 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net sales
$
—

 
$
2,000.9

 
$
800.5

 
$
(98.5
)
 
$
2,702.9

Cost of sales
—

 
1,208.3

 
464.3

 
(90.4
)
 
1,582.2

Gross profit
—

 
792.6

 
336.2

 
(8.1
)
 
1,120.7

Selling and marketing expenses
8.4

 
392.0

 
199.8

 
(12.4
)
 
587.8

General, administrative and other expenses
17.8

 
204.6

 
57.4

 
(6.8
)
 
273.0

Customer-related charges
—

 
21.2

 
—

 
—

 
21.2

Equity income in earnings of unconsolidated affiliates
—

 
—

 
(17.6
)
 
—

 
(17.6
)
Operating (loss) income
(26.2
)
 
174.8

 
96.6

 
11.1

 
256.3

 
 
 
 
 
 
 
 
 
 
Other expense, net:
 
 
 
 
 
 
 
 
 
Third party interest expense, net
59.2

 
30.2

 
4.6

 
(1.7
)
 
92.3

Intercompany interest (income) expense, net
(6.9
)
 
10.8

 
(3.9
)
 
—

 
—

Interest expense, net
52.3

 
41.0

 
0.7

 
(1.7
)
 
92.3

Other (income) expense, net
—

 
(9.9
)
 
13.9

 
(5.0
)
 
(1.0
)
Total other expense, net
52.3

 
31.1

 
14.6

 
(6.7
)
 
91.3

 
 
 
 
 
 
 
 
 
 
Income from equity investees
162.0

 
26.6

 
—

 
(188.6
)
 
—

 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
83.5

 
170.3

 
82.0

 
(170.8
)
 
165.0

Income tax benefit (provision)
14.1

 
(8.3
)
 
(55.4
)
 
—

 
(49.6
)
Income from continuing operations
97.6

 
162.0

 
26.6

 
(170.8
)
 
115.4

Loss from discontinued operations, net of tax
—

 
—

 
—

 
(17.8
)
 
(17.8
)
Net income before non-controlling interests
97.6

 
162.0

 
26.6

 
(188.6
)
 
97.6

Less: Net loss attributable to non-controlling interests
(2.9
)
 
(2.6
)
 
(0.3
)
 
2.9

 
(2.9
)
Net income attributable to Tempur Sealy International, Inc.
$
100.5

 
$
164.6

 
$
26.9

 
$
(191.5
)
 
$
100.5

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to Tempur Sealy International, Inc.
$
80.7

 
$
164.2

 
$
7.5

 
$
(171.7
)
 
$
80.7


TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Income and Comprehensive Income
Year Ended December 31, 2017
(in millions)
 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net sales
$
—

 
$
1,961.2

 
$
862.5

 
$
(123.1
)
 
$
2,700.6

Cost of sales
—

 
1,185.4

 
497.6

 
(103.4
)
 
1,579.6

Gross profit
—

 
775.8

 
364.9

 
(19.7
)
 
1,121.0

Selling and marketing expenses
5.6

 
406.8

 
188.9

 
(15.2
)
 
586.1

General, administrative and other expenses
17.5

 
176.6

 
78.9

 
(11.6
)
 
261.4

Customer-related charges
(8.4
)
 
21.7

 
1.1

 
—

 
14.4

Equity income in earnings of unconsolidated affiliates
—

 
—

 
(15.6
)
 
—

 
(15.6
)
Royalty income, net of royalty expense
—

 
(20.8
)
 
—

 
—

 
(20.8
)
Operating (loss) income
(14.7
)
 
191.5

 
111.6

 
7.1

 
295.5

 
 
 
 
 
 
 
 
 
 
Other expense, net:
 
 
 
 
 
 
 
 
 
Third party interest expense, net
59.6

 
26.0

 
22.4

 
(20.7
)
 
87.3

Intercompany interest (income) expense, net
(4.7
)
 
8.3

 
(3.6
)
 
—

 
—

Interest expense, net
54.9

 
34.3

 
18.8

 
(20.7
)
 
87.3

Other (income) expense, net
—

 
(17.2
)
 
9.2

 
0.8

 
(7.2
)
Total other expense, net
54.9

 
17.1

 
28.0

 
(19.9
)
 
80.1

 
 
 
 
 
 
 
 
 
 
Income from equity investees
193.1

 
51.3

 
—

 
(244.4
)
 
—

 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
123.5

 
225.7

 
83.6

 
(217.4
)
 
215.4

Income tax benefit (provision)
17.2

 
(32.6
)
 
(32.3
)
 
3.9

 
(43.8
)
Income from continuing operations
140.7

 
193.1

 
51.3

 
(213.5
)
 
171.6

Loss from discontinued operations
—

 
—

 
—

 
(30.9
)
 
(30.9
)
Net income before non-controlling interests
140.7

 
193.1

 
51.3

 
(244.4
)
 
140.7

Less: Net loss attributable to non-controlling interests
(10.7
)
 
(5.2
)
 
(5.5
)
 
10.7

 
(10.7
)
Net income attributable to Tempur Sealy International, Inc.
$
151.4

 
$
198.3

 
$
56.8

 
$
(255.1
)
 
$
151.4

 
 
 
 
 
 
 
 
 
 
Comprehensive income attributable to Tempur Sealy International, Inc.
$
179.4

 
$
193.0

 
$
89.9

 
$
(282.9
)
 
$
179.4



    

TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Balance Sheets
December 31, 2019
(in millions)
 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.2

 
$
20.0

 
$
44.7

 
$
—

 
$
64.9

Accounts receivable, net
0.2

 
21.9

 
352.5

 
(2.6
)
 
372.0

Inventories
—

 
199.9

 
60.6

 
—

 
260.5

Prepaid expenses and other current assets
12.9

 
59.5

 
140.2

 
(9.8
)
 
202.8

Total Current Assets
13.3

 
301.3

 
598.0

 
(12.4
)
 
900.2

Property, plant and equipment, net
—

 
366.5

 
69.3

 
—

 
435.8

Goodwill
—

 
511.2

 
221.1

 
—

 
732.3

Other intangible assets, net
—

 
564.3

 
77.1

 
—

 
641.4

Operating lease right-of-use assets
—

 
198.2

 
47.2

 
—

 
245.4

Deferred income taxes
13.0

 
—

 
14.1

 
(13.0
)
 
14.1

Other non-current assets
0.4

 
46.6

 
45.6

 
—

 
92.6

Net investment in subsidiaries
1,143.3

 
369.0

 
—

 
(1,512.3
)
 
—

Due from affiliates
341.6

 
125.4

 
19.6

 
(486.6
)
 
—

Total Assets
$
1,511.6

 
$
2,482.5

 
$
1,092.0

 
$
(2,024.3
)
 
$
3,061.8

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
198.4

 
$
55.9

 
$
(2.6
)
 
$
251.7

Accrued expenses and other current liabilities
6.8

 
245.7

 
220.7

 
—

 
473.2

Income taxes payable
—

 
10.0

 
10.8

 
(9.8
)
 
11.0

Current portion of long-term debt
—

 
29.5

 
7.9

 
—

 
37.4

Total Current Liabilities
6.8

 
483.6

 
295.3

 
(12.4
)
 
773.3

Long-term debt, net
1,044.3

 
458.1

 
0.2

 
—

 
1,502.6

Long-term operating lease obligations
—

 
172.4

 
33.0

 
—

 
205.4

Deferred income taxes
—

 
98.5

 
16.6

 
(13.0
)
 
102.1

Other non-current liabilities
0.2

 
59.4

 
58.4

 
—

 
118.0

Due to affiliates
99.9

 
67.2

 
319.5

 
(486.6
)
 
—

Total Liabilities
1,151.2

 
1,339.2

 
723.0

 
(512.0
)
 
2,701.4

 
 
 
 
 
 
 
 
 
 
Total Stockholders' Equity
360.4

 
1,143.3

 
369.0

 
(1,512.3
)
 
360.4

Total Liabilities and Stockholders’ Equity
$
1,511.6

 
$
2,482.5

 
$
1,092.0

 
$
(2,024.3
)
 
$
3,061.8

TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Balance Sheets
December 31, 2018
(in millions)


Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
0.1

 
$
6.2

 
$
39.5

 
$
—

 
$
45.8

Accounts receivable, net
—

 
15.2

 
303.3

 
3.0

 
321.5

Inventories
—

 
159.4

 
62.9

 
—

 
222.3

Prepaid expenses and other current assets
276.9

 
65.4

 
148.1

 
(274.6
)
 
215.8

Total Current Assets
277.0

 
246.2

 
553.8

 
(271.6
)
 
805.4

Property, plant and equipment, net
—

 
350.7

 
70.1

 
—

 
420.8

Goodwill
—

 
508.8

 
214.2

 
—

 
723.0

Other intangible assets, net
—

 
572.7

 
76.6

 
—

 
649.3

Deferred income taxes
15.0

 
—

 
22.6

 
(15.0
)
 
22.6

Other non-current assets
—

 
49.2

 
45.1

 
—

 
94.3

Net investment in subsidiaries
661.7

 
210.0

 
—

 
(871.7
)
 
—

Due from affiliates
422.1

 
153.8

 
15.4

 
(591.3
)
 
—

Total Assets
$
1,375.8

 
$
2,091.4

 
$
997.8

 
$
(1,749.6
)
 
$
2,715.4

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
186.7

 
$
63.3

 
$
3.0

 
$
253.0

Accrued expenses and other current liabilities
6.7

 
143.9

 
208.6

 
—

 
359.2

Income taxes payable
—

 
274.7

 
9.6

 
(274.6
)
 
9.7

Current portion of long-term debt
—

 
44.0

 
3.1

 
—

 
47.1

Total Current Liabilities
6.7

 
649.3

 
284.6

 
(271.6
)
 
669.0

Long-term debt, net
1,043.0

 
547.1

 
9.0

 
—

 
1,599.1

Deferred income taxes
—

 
118.0

 
14.5

 
(15.0
)
 
117.5

Other non-current liabilities
1.9

 
58.2

 
52.2

 
—

 
112.3

Due to affiliates
106.7

 
57.1

 
427.5

 
(591.3
)
 
—

Total Liabilities
1,158.3

 
1,429.7

 
787.8

 
(877.9
)
 
2,497.9

 
 
 
 
 
 
 
 
 
 
Total Stockholders’ Equity
217.5

 
661.7

 
210.0

 
(871.7
)
 
217.5

Total Liabilities and Stockholders’ Equity
$
1,375.8

 
$
2,091.4

 
$
997.8

 
$
(1,749.6
)
 
$
2,715.4



TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Cash Flows
Year Ended December 31, 2019
(in millions)

 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net cash (used in) provided by operating activities from continuing operations
$
(47.6
)
 
$
295.2

 
$
65.2

 
$
2.0

 
$
314.8

 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Contributions (paid to) received from subsidiaries and affiliates
—

 
(68.4
)
 
68.4

 
—

 
—

Purchases of property, plant and equipment
—

 
(76.2
)
 
(12.0
)
 
—

 
(88.2
)
Acquisitions, net of cash acquired
—

 
(8.1
)
 
(9.0
)
 
—

 
(17.1
)
Other
—

 
4.9

 
10.2

 
—

 
15.1

Net cash (used in) provided by investing activities from continuing operations
—

 
(147.8
)
 
57.6

 
—

 
(90.2
)
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Proceeds from borrowings under long-term debt obligations
—

 
607.8

 
635.0

 
—

 
1,242.8

Repayments of borrowings under long-term debt obligations
—

 
(707.6
)
 
(639.5
)
 
—

 
(1,347.1
)
Net activity in investment in and advances from (to) subsidiaries and affiliates
135.6

 
(22.8
)
 
(112.8
)
 
—

 
—

Proceeds from exercise of stock options
17.8

 
—

 
—

 
—

 
17.8

Treasury stock repurchased
(105.7
)
 
—

 
—

 
—

 
(105.7
)
Repayments of deferred financing costs
—

 
(3.2
)
 
—

 
—

 
(3.2
)
Repayments of finance lease obligations and other
—

 
(7.8
)
 
—

 
—

 
(7.8
)
Net cash provided by (used in) financing activities from continuing operations
47.7

 
(133.6
)
 
(117.3
)
 
—

 
(203.2
)
 
 
 
 
 
 
 
 
 
 
Net cash provided by continuing operations
0.1

 
13.8

 
5.5

 
2.0

 
21.4

 
 
 
 
 
 
 
 
 
 
CASH USED IN DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
Operating cash flows, net
—

 
—

 
—

 
(2.0
)
 
(2.0
)
Investing cash flows, net
—

 
—

 
—

 
—

 
—

Financing cash flows, net
—

 
—

 
—

 
—

 
—

Net cash used in discontinued operations
—

 
—

 
—

 
(2.0
)
 
(2.0
)
 
 
 
 
 
 
 
 
 
 
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
—

 
—

 
(0.3
)
 
—

 
(0.3
)
Increase in cash and cash equivalents
0.1

 
13.8

 
5.2

 
—

 
19.1

CASH AND CASH EQUIVALENTS, beginning of period
0.1

 
6.2

 
39.5

 
—

 
45.8

CASH AND CASH EQUIVALENTS, end of period
$
0.2

 
$
20.0

 
$
44.7

 
$
—

 
$
64.9

 
TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Cash Flows
Year Ended December 31, 2018
(in millions)

 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net cash (used in) provided by operating activities from continuing operations
$
(55.8
)
 
$
166.6

 
$
72.3

 
$
24.4

 
$
207.5

 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Contributions (paid to) received from subsidiaries and affiliates
—

 
(75.8
)
 
75.8

 
—

 
—

Purchases of property, plant and equipment
—

 
(58.8
)
 
(15.3
)
 
0.5

 
(73.6
)
Other
—

 
0.1

 
4.9

 
(2.6
)
 
2.4

Net cash (used in) provided by investing activities from continuing operations
—

 
(134.5
)
 
65.4

 
(2.1
)
 
(71.2
)
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Proceeds from borrowings under long-term debt obligations
—

 
414.0

 
680.9

 
—

 
1,094.9

Repayments of borrowings under long-term debt obligations
—

 
(444.0
)
 
(751.8
)
 
—

 
(1,195.8
)
Net activity in investment in and advances from (to) subsidiaries and affiliates
55.8

 
(3.0
)
 
(52.8
)
 
—

 
—

Proceeds from exercise of stock options
4.6

 
—

 
—

 
—

 
4.6

Treasury stock repurchased
(4.6
)
 
—

 
—

 
—

 
(4.6
)
Repayments of finance lease obligations and other
—

 
(5.2
)
 
(0.9
)
 
—

 
(6.1
)
Net cash provided by (used in) financing activities from continuing operations
55.8

 
(38.2
)
 
(124.6
)
 
—

 
(107.0
)
 
 
 
 
 
 
 
 
 
 
Net cash (used in) provided by continuing operations
—

 
(6.1
)
 
13.1

 
22.3

 
29.3

 
 
 
 
 
 
 
 
 
 
CASH USED IN DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
Operating cash flows, net
—

 
—

 
—

 
(24.4
)
 
(24.4
)
Investing cash flow, net
—

 
—

 
—

 
2.1

 
2.1

Financing cash flows, net
—

 
—

 
—

 
—

 
—

Net cash used in discontinued operations
—

 
—

 
—

 
(22.3
)
 
(22.3
)
 
 
 
 
 
 
 
 
 
 
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
—

 
—

 
(3.1
)
 
—

 
(3.1
)
(Decrease) increase in cash and cash equivalents
—

 
(6.1
)
 
10.0

 
—

 
3.9

CASH AND CASH EQUIVALENTS, beginning of period
0.1

 
12.3

 
29.5

 
—

 
41.9

CASH AND CASH EQUIVALENTS, end of period
$
0.1

 
$
6.2

 
$
39.5

 
$
—

 
$
45.8

TEMPUR SEALY INTERNATIONAL, INC.
Supplemental Consolidated Statements of Cash Flows
Year Ended December 31, 2017
(in millions)
 
Tempur Sealy International, Inc. (Ultimate Parent)
 
Combined Guarantor Subsidiaries
 
Combined Non-Guarantor Subsidiaries
 
Reclassifications and Eliminations
 
Consolidated
Net cash (used in) provided by operating activities from continuing operations
$
(55.3
)
 
$
376.9

 
$
(98.7
)
 
$
33.6

 
$
256.5

 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Contributions (paid to) received from subsidiaries and affiliates
—

 
(129.7
)
 
129.7

 
—

 
—

Purchases of property, plant and equipment
—

 
(55.8
)
 
(11.2
)
 
0.4

 
(66.6
)
  Other
—

 
0.8

 
4.1

 
(4.0
)
 
0.9

Net cash (used in) provided by investing activities from continuing operations
—

 
(184.7
)
 
122.6

 
(3.6
)
 
(65.7
)
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
Proceeds from borrowings under long-term debt obligations
—

 
603.9

 
729.0

 
—

 
1,332.9

Repayments of borrowings under long-term debt obligations
—

 
(790.8
)
 
(680.7
)
 
—

 
(1,471.5
)
Net activity in investment in and advances from (to) subsidiaries and affiliates
87.5

 
0.5

 
(88.0
)
 
—

 
—

Proceeds from exercise of stock options
12.8

 
—

 
—

 
—

 
12.8

Treasury stock repurchased
(44.9
)
 
—

 
—

 
—

 
(44.9
)
Payment of deferred financing costs
—

 
—

 
(0.5
)
 
—

 
(0.5
)
Other
—

 
(1.4
)
 
(2.6
)
 
—

 
(4.0
)
Net cash provided by (used in) financing activities from continuing operations
55.4

 
(187.8
)
 
(42.8
)
 
—

 
(175.2
)
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operations
0.1

 
4.4

 
(18.9
)
 
30.0

 
15.6

 
 
 
 
 
 
 
 
 
 
CASH USED IN DISCONTINUED OPERATIONS
 
 
 
 
 
 
 
 
 
Operating cash flows, net
—

 
—

 
—

 
(33.6
)
 
(33.6
)
Investing cash flow, net
—

 
—

 
—

 
3.6

 
3.6

Financing cash flows, net
—

 
—

 
—

 
—

 
—

Net cash used in discontinued operations
—

 
—

 
—

 
(30.0
)
 
(30.0
)
 
 
 
 
 
 
 
 
 
 
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
—

 
—

 
(9.4
)
 
—

 
(9.4
)
Increase (decrease) in cash and cash equivalents
0.1

 
4.4

 
(28.3
)
 
—

 
(23.8
)
CASH AND CASH EQUIVALENTS, beginning of period
—

 
7.9

 
57.8

 
—

 
65.7

CASH AND CASH EQUIVALENTS, end of period
0.1

 
12.3

 
29.5

 
—

 
41.9

LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS
—

 
—

 
0.8

 
—

 
0.8

CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS
$
0.1

 
$
12.3

 
$
28.7

 
$
—

 
$
41.1