16. GUARANTOR FINANCIAL STATEMENTS

Rockwood Holdings Inc. (“Parent Company”) and certain of its 100% owned domestic subsidiaries (“Guarantor Subsidiaries”) jointly and severally, and fully and unconditionally guarantee the 2020 Notes in the aggregate principal amount of $1.25 billion issued in September 2012 by Rockwood Specialties Group, Inc. (“RSGI”), an indirect 100% owned subsidiary of the Company. The following presents the consolidating financial information separately for:

· Parent Company Guarantor — the Parent Company owns a 100% direct investment in Rockwood Specialties Consolidated, Inc. (“RSCI”). RSCI owns a 100% direct investment in Rockwood Specialties International, Inc. (“RSII”). RSII owns a 100% direct investment in RSGI. Each of these entities is a domestic holding company;

· Issuer - RSGI, the issuer of the guaranteed obligations, owns direct or indirect investments in all other domestic and foreign subsidiaries;

· Guarantor Subsidiaries — these represent substantially all of RSGI’s domestic subsidiaries on a combined basis. The “investment in subsidiary” and “equity in undistributed earnings of subsidiaries” represents all non-guarantor subsidiaries of such guarantors;

· Non-Guarantor Subsidiaries — these include all of the Company’s foreign subsidiaries, two domestic subsidiaries and RSCI and RSII (because they are non-guarantors) on a combined basis. As a result, the “investment in subsidiary” and “equity in undistributed earnings of subsidiaries” presented in the Non-Guarantor Subsidiaries column includes all of the subsidiaries of RSCI;

· Consolidating Adjustments — represent adjustments to (a) eliminate intercompany transactions between or among the Parent Company, RSGI, the Guarantor Subsidiaries and the Non-Guarantor subsidiaries, (b) eliminate the investments in subsidiaries (c) eliminate the cash overdrafts in intergroup payable, and (d) offset deferred income taxes within the same tax jurisdictions; and

· Total Consolidated Amounts - Parent Company and its subsidiaries on a consolidated basis.

Each entity in the consolidating financial information follows the same accounting policies as described in the condensed consolidated financial statements.

The Parent Company Guarantor, Issuer, Guarantor Subsidiaries and Non-Guarantor Subsidiaries are parties to cash concentration arrangements with three financial institutions to maximize the availability of cash for general corporate and operating purposes. Cash balances under one of the cash concentration arrangements are swept daily from the accounts of the entities who are party to the arrangement into the concentration account. There are no restrictions under the cash concentration arrangements on the movement of cash between the Parent Company Guarantor, the Issuer, the Guarantor Subsidiaries and the Non-Guarantor Subsidiaries. There are no significant restrictions on the ability of RSGI or any Guarantor Subsidiaries to obtain funds by dividend or loan. However, there are restrictions contained in the senior secured credit agreement and the indenture governing the 2020 Notes on the ability of the Parent Company to obtain funds from RSGI and its subsidiaries. See Item 8. Financial Statements and Supplementary Data - Note 10, “Long-Term Debt” in the Company’s 2012 Annual Report on Form 10-K for further details.

The following tables present the Company’s consolidating statement of operations, comprehensive income and cash flows for the three months ended March 31, 2013 and 2012, and the Company’s consolidating balance sheet as of March 31, 2013 and December 31, 2012.

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2013

(Dollars in millions)

(Unaudited)

	Parent
	Company					Guarantor			Non-Guarantor			Consolidating
	Guarantor		Issuer			Subsidiaries			Subsidiaries			Adjustments			Consolidated
Net sales	$	—	$	—		$	179.7		$	807.8		$	(52.9	)	$	934.6
Cost of products sold	—		—			127.6			585.6			(52.4		)	660.8
Gross profit	—		—			52.1			222.2			(0.5		)	273.8
Selling, general and administrative expenses	—		0.4			45.5			134.1			—			180.0
Restructuring and other severance costs	—		—			5.3			1.8			—			7.1
Operating income	—		(0.4		)	1.3			86.3			(0.5		)	86.7
Other income (expenses), net:
Intergroup interest, net	—		17.5			(3.1		)	(14.4		)	—			—
Interest expense, net	—		(22.7		)	(0.3		)	(6.0		)	—			(29.0		)
Loss on early extinguishment/modification of debt	—		—			—			(17.6		)	—			(17.6		)
Intergroup other, net	—		—			10.7			(10.7		)	—			—
Foreign exchange loss on financing activities, net	—		(13.3		)	(0.2		)	(1.8		)	—			(15.3		)
Other, net	—		—			—			0.1			—			0.1
Other (expenses) income, net	—		(18.5		)	7.1			(50.4		)	—			(61.8		)
(Loss) income from before taxes	—		(18.9		)	8.4			35.9			(0.5		)	24.9
Income tax (benefit) provision	—		(7.9		)	4.0			12.1			(0.2		)	8.0
Net income before equity in undistributed earnings of subsidiaries	—		(11.0		)	4.4			23.8			(0.3		)	16.9
Equity in undistributed earnings of subsidiaries	18.9		29.9			13.9			18.9			(81.6		)	—
Net income	18.9		18.9			18.3			42.7			(81.9		)	16.9
Net loss attributable to noncontrolling interest	—		—			—			2.0			—			2.0
Net income attributable to Rockwood Holdings, Inc. shareholders	$	18.9	$	18.9		$	18.3		$	44.7		$	(81.9	)	$	18.9

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 31, 2013

(Dollars in millions)

(Unaudited)

	Parent
	Company						Guarantor		Non-Guarantor			Consolidating
	Guarantor			Issuer			Subsidiaries		Subsidiaries			Adjustments			Consolidated
Net income	$	18.9		$	18.9		$	18.3	$	42.7		$	(81.9	)	$	16.9

Other comprehensive (loss) income	(73.7		)	(73.7		)	0.1		(97.1		)	199.6			(44.8		)

Comprehensive (loss) income	(54.8		)	(54.8		)	18.4		(54.4		)	117.7			(27.9		)
Comprehensive loss attributable to noncontrolling interest	—			—			—		0.7			—			0.7
Comprehensive (loss) income attributable to Rockwood Holdings, Inc. shareholders	$	(54.8	)	$	(54.8	)	$	18.4	$	(53.7	)	$	117.7		$	(27.2	)

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS

THREE MONTHS ENDED MARCH 31, 2012

(Dollars in millions)

(Unaudited)

	Parent
	Company					Guarantor			Non-Guarantor			Consolidating
	Guarantor		Issuer			Subsidiaries			Subsidiaries			Adjustments			Consolidated
Net sales	$	—	$	—		$	202.3		$	768.7		$	(61.5	)	$	909.5
Cost of products sold	—		—			145.7			482.5			(61.5		)	566.7
Gross profit	—		—			56.6			286.2			—			342.8
Selling, general and administrative expenses	—		0.3			43.7			133.1			—			177.1
Restructuring and other severance costs	—		—			1.7			12.5			—			14.2
Operating income	—		(0.3		)	11.2			140.6			—			151.5
Other income (expenses), net:
Intergroup interest, net	—		18.7			(4.0		)	(14.7		)	—			—
Interest expense, net	—		(17.6		)	—			(2.9		)	—			(20.5		)
Loss on early extinguishment/modification of debt	—		(0.3		)	(3.4		)	(6.0		)	—			(9.7		)
Intergroup other, net	—		—			9.3			(9.3		)	—			—
Foreign exchange loss on financing activities, net	—		—			(0.2		)	(0.8		)	—			(1.0		)
Other income (expenses), net	—		0.8			1.7			(33.7		)	—			(31.2		)
Income from before taxes	—		0.5			12.9			106.9			—			120.3
Income tax provision	—		0.2			1.3			29.1			—			30.6
Net income before equity in undistributed earnings of subsidiaries	—		0.3			11.6			77.8			—			89.7
Equity in undistributed earnings of subsidiaries	75.8		75.5			8.7			75.8			(235.8		)	—
Net income	75.8		75.8			20.3			153.6			(235.8		)	89.7
Net income attributable to noncontrolling interest	—		—			—			(13.9		)	—			(13.9		)
Net income attributable to Rockwood Holdings, Inc. shareholders	$	75.8	$	75.8		$	20.3		$	139.7		$	(235.8	)	$	75.8

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME

THREE MONTHS ENDED MARCH 31, 2012

(Dollars in millions)

(Unaudited)

	Parent
	Company				Guarantor		Non-Guarantor			Consolidating
	Guarantor		Issuer		Subsidiaries		Subsidiaries			Adjustments			Consolidated
Net income	$	75.8	$	75.8	$	20.3	$	153.6		$	(235.8	)	$	89.7

Other comprehensive income	48.8		48.8		0.9		(25.8)			(19.5		)	53.2

Comprehensive income	124.6		124.6		21.2		127.8			(255.3		)	142.9
Comprehensive income attributable to noncontrolling interest	—		—		—		(18.3		)	—			(18.3		)
Comprehensive income attributable to Rockwood Holdings, Inc. shareholders	$	124.6	$	124.6	$	21.2	$	109.5		$	(255.3	)	$	124.6

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING BALANCE SHEET

MARCH 31, 2013

(Dollars in millions)

(Unaudited)

	Parent
	Company						Guarantor			Non-Guarantor			Consolidating
	Guarantor			Issuer			Subsidiaries			Subsidiaries			Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	110.6		$	462.7		$	1,008.9		$	(1,091.1	)	$	491.1
Accounts receivable, net	—			—			85.8			467.3			—			553.1
Intergroup receivable	—			393.9			167.2			14.3			(575.4		)	—
Inventories	—			—			144.3			675.7			(6.8		)	813.2
Deferred income taxes	—			—			1.9			8.9			0.8			11.6
Prepaid expenses and other current assets	—			0.1			9.3			71.4			—			80.8
Total current assets	—			504.6			871.2			2,246.5			(1,672.5		)	1,949.8
Property, plant and equipment, net	—			—			268.0			1,418.8			—			1,686.8
Investment in subsidiary	1,584.0			1,195.7			452.5			1,584.0			(4,816.2		)	—
Goodwill	—			—			17.1			824.1			—			841.2
Intergroup receivable	74.9			2,057.8			145.8			55.5			(2,334.0		)	—
Other intangible assets, net	—			—			51.9			367.5			—			419.4
Deferred financing costs, net	—			20.6			4.8			5.7			—			31.1
Deferred income taxes	—			134.6			12.0			29.1			—			175.7
Other assets	—			—			0.7			65.4			—			66.1
Total assets	$	1,658.9		$	3,913.3		$	1,824.0		$	6,596.6		$	(8,822.7	)	$	5,170.1
LIABILITIES
Current liabilities:
Accounts payable	$	—		$	—		$	28.2		$	197.1		$	—		$	225.3
Intergroup payable	146.1			2.0			862.3			656.1			(1,666.5		)	—
Income taxes payable	—			—			0.1			28.5			—			28.6
Accrued compensation	—			—			11.1			100.1			—			111.2
Accrued expenses and other current liabilities	—			33.4			37.2			102.7			—			173.3
Deferred income taxes	—			0.8			—			6.0			(1.5		)	5.3
Long-term debt, current portion	—			35.0			—			8.2			—			43.2
Total current liabilities	146.1			71.2			938.9			1,098.7			(1,668.0		)	586.9
Long-term debt	—			2,126.0			—			52.8			—			2,178.8
Pension and related liabilities	—			—			21.8			536.8			—			558.6
Intergroup payable	16.6			120.0			560.6			1,636.8			(2,334.0		)	—
Deferred income taxes	—			—			—			74.0			—			74.0
Other liabilities	—			12.1			27.1			79.9			—			119.1
Total liabilities	162.7			2,329.3			1,548.4			3,479.0			(4,002.0		)	3,517.4
Restricted stock units	16.2			—			—			—			—			16.2
EQUITY
Rockwood Holdings, Inc. stockholders’ equity:
Common stock	0.8			—			190.6			164.7			(355.3		)	0.8
Paid-in capital	1,242.3			1,037.1			501.1			1,681.6			(3,219.8		)	1,242.3
Accumulated other comprehensive (loss) income	(88.0		)	(86.7		)	2.4			(55.3		)	139.6			(88.0		)
Retained earnings (deficit)	415.7			633.6			(418.5		)	1,170.1			(1,385.2		)	415.7
Treasury stock, at cost	(90.8		)	—			—			—			—			(90.8		)
Total Rockwood Holdings, Inc. stockholders’ equity	1,480.0			1,584.0			275.6			2,961.1			(4,820.7		)	1,480.0
Noncontrolling interest	—			—			—			156.5			—			156.5
Total equity	1,480.0			1,584.0			275.6			3,117.6			(4,820.7		)	1,636.5
Total liabilities and equity	$	1,658.9		$	3,913.3		$	1,824.0		$	6,596.6		$	(8,822.7	)	$	5,170.1

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING BALANCE SHEET

DECEMBER 31, 2012

(Dollars in millions)

	Parent
	Company						Guarantor			Non-Guarantor		Consolidating
	Guarantor			Issuer			Subsidiaries			Subsidiaries		Adjustments			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	665.3		$	299.3		$	1,258.1	$	(949.1	)	$	1,273.6
Accounts receivable, net	—			—			73.3			401.0		—			474.3
Intergroup receivable	—			263.0			41.2			9.9		(314.1		)	—
Inventories	—			—			133.1			696.1		(6.3		)	822.9
Deferred income taxes	—			—			1.9			8.0		0.7			10.6
Prepaid expenses and other current assets	—			—			14.6			70.5		—			85.1
Total current assets	—			928.3			563.4			2,443.6		(1,268.8		)	2,666.5
Property, plant and equipment, net	—			—			269.0			1,446.4		—			1,715.4
Investment in subsidiary	1,645.7			1,223.6			441.7			1,645.8		(4,956.8		)	—
Goodwill	—			—			17.1			847.7		—			864.8
Intergroup receivable	70.3			1,550.4			146.4			55.5		(1,822.6		)	—
Other intangible assets, net	—			—			55.3			390.5		—			445.8
Deferred financing costs, net	—			21.9			5.1			24.7		—			51.7
Deferred income taxes	—			130.9			11.9			29.0		—			171.8
Other assets	—			—			0.7			57.0		—			57.7
Total assets	$	1,716.0		$	3,855.1		$	1,510.6		$	6,940.2	$	(8,048.2	)	$	5,973.7
LIABILITIES
Current liabilities:
Accounts payable	$	—		$	—		$	32.4		$	200.9	$	—		$	233.3
Intergroup payable	30.2			—			560.8			672.2		(1,263.2		)	—
Income taxes payable	—			—			—			33.1		—			33.1
Accrued compensation	—			—			16.5			89.0		—			105.5
Accrued expenses and other current liabilities	—			20.6			30.8			100.6		—			152.0
Deferred income taxes	—			0.7			—			4.3		(1.4		)	3.6
Long-term debt, current portion	—			30.6			—			523.1		—			553.7
Total current liabilities	30.2			51.9			640.5			1,623.2		(1,264.6		)	1,081.2
Long-term debt	—			2,143.5			—			54.6		—			2,198.1
Pension and related liabilities	—			—			21.8			554.8		—			576.6
Intergroup payable	16.7			2.1			559.5			1,244.2		(1,822.5		)	—
Deferred income taxes	—			—			—			72.0		—			72.0
Other liabilities	—			11.9			27.7			84.0		—			123.6
Total liabilities	46.9			2,209.4			1,249.5			3,632.8		(3,087.1		)	4,051.5
Restricted stock units	12.5			—			—			—		—			12.5
EQUITY
Rockwood Holdings, Inc. stockholders’ equity:
Common stock	0.8			—			190.6			164.7		(355.3		)	0.8
Paid-in capital	1,243.1			1,044.0			505.8			1,691.1		(3,240.9		)	1,243.1
Accumulated other comprehensive (loss) income	(14.3		)	(13.0		)	2.3			70.7		(60.0		)	(14.3		)
Retained earnings (deficit)	428.4			614.7			(437.6		)	1,127.8		(1,304.9		)	428.4
Treasury stock, at cost	(1.4		)	—			—			—		—			(1.4		)
Total Rockwood Holdings, Inc. stockholders’ equity	1,656.6			1,645.7			261.1			3,054.3		(4,961.1		)	1,656.6
Noncontrolling interest	—			—			—			253.1		—			253.1
Total equity	1,656.6			1,645.7			261.1			3,307.4		(4,961.1		)	1,909.7
Total liabilities and equity	$	1,716.0		$	3,855.1		$	1,510.6		$	6,940.2	$	(8,048.2	)	$	5,973.7

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2013

(Dollars in millions)

(Unaudited)

	Parent
	Company						Guarantor			Non-Guarantor			Consolidating
	Guarantor			Issuer			Subsidiaries			Subsidiaries			Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	18.9		$	18.9		$	18.3		$	42.7		$	(81.9	)	$	16.9
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in undistributed earnings of subsidiaries	(18.9		)	(29.9		)	(13.9		)	(18.9		)	81.6			—
Depreciation and amortization	—			—			12.1			54.9			—			67.0
Deferred financing costs amortization	—			0.7			0.3			1.6			—			2.6
Loss on early extinguishment/modification of debt	—			—			—			17.6			—			17.6
Foreign exchange loss on financing activities, net	—			13.3			0.2			1.8			—			15.3
Fair value adjustment of derivatives	—			—			—			(0.9		)	—			(0.9		)
Bad debt provision	—			—			(0.1		)	0.1			—			—
Stock-based compensation	—			—			1.9			1.4			—			3.3
Deferred income taxes	—			(3.7		)	(0.2		)	1.6			(0.2		)	(2.5		)
Asset write-downs and other	—			—			—			0.1			—			0.1
Excess tax benefits from stock-based payment arrangements	—			—			—			(1.4		)	—			(1.4		)
Changes in assets and liabilities, net of the effect of foreign currency translation and acquisitions:
Accounts receivable	—			—			(12.5		)	(79.0		)	—			(91.5		)
Inventories	—			—			(11.3		)	1.7			0.5			(9.1		)
Prepaid expenses and other assets	—			(0.1		)	1.1			(11.2		)	—			(10.2		)
Accounts payable	—			—			(2.7		)	11.2			—			8.5
Income taxes payable	—			(4.2		)	3.9			(1.9		)	—			(2.2		)
Accrued expenses and other liabilities	—			13.3			1.6			20.4			—			35.3
Intercompany operating activities, net	115.8			(130.3		)	174.3			(17.8		)	(142.0		)	—
Net cash provided by (used in) operating activities	115.8			(122.0		)	173.0			24.0			(142.0		)	48.8
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (a)	—			—			(9.7		)	(57.9		)	—			(67.6		)
Intercompany investing related activity	—			—			—			—			—			—
Proceeds on sale of assets	—			—			0.1			0.1			—			0.2
Net cash used in investing activities	—			—			(9.6		)	(57.8		)	—			(67.4		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock, net of fees	4.7			—			—			—			—			4.7
Excess tax benefits from stock-based payment arrangements	—			—			—			1.4			—			1.4
Payments of long-term debt	—			(13.1		)	—			(513.6		)	—			(526.7		)
Proceeds from long-term debt	—			—			—			6.5			—			6.5
Fees related to early extinguishment/modification of debt	—			—			—			(0.6		)	—			(0.6		)
Purchase of noncontrolling interest	—			(1.0		)	—			(129.3		)	—			(130.3		)
Distributions to noncontrolling shareholders	—			—			—			(0.1		)	—			(0.1		)
Dividend distributions to shareholders	(31.1		)	—			—			—			—			(31.1		)
Share repurchases	(89.4		)	—			—			—			—			(89.4		)
Intercompany financing related activity	—			(417.8		)	—			417.8			—			—
Net cash used in financing activities	(115.8		)	(431.9		)	—			(217.9		)	—			(765.6		)
Effect of exchange rate changes on cash and cash equivalents	—			(0.8		)	—			2.5			—			1.7
Net (decrease) increase in cash and cash equivalents	—			(554.7		)	163.4			(249.2		)	(142.0		)	(782.5		)
Cash and cash equivalents of continuing operations, beginning of period	—			665.3			299.3			1,258.1			(949.1		)	1,273.6
Cash and cash equivalents of continuing operations, end of period	$	—		$	110.6		$	462.7		$	1,008.9		$	(1,091.1	)	$	491.1

(a) Net of governments grants of $1.5 million.

ROCKWOOD HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF CASH FLOWS

THREE MONTHS ENDED MARCH 31, 2012

(Dollars in millions)

(Unaudited)

	Parent
	Company						Guarantor			Non-Guarantor			Consolidating
	Guarantor			Issuer			Subsidiaries			Subsidiaries			Adjustments			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	75.8		$	75.8		$	20.3		$	153.6		$	(235.8	)	$	89.7
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed earnings of subsidiaries	(75.8		)	(75.5		)	(8.7		)	(75.8		)	235.8			—
Depreciation and amortization	—			—			13.0			52.8			—			65.8
Deferred financing costs amortization	—			0.1			0.2			1.0			—			1.3
Loss on early extinguishment/modification of debt	—			0.3			3.4			6.0			—			9.7
Foreign exchange loss on financing activities, net	—			—			0.2			0.8			—			1.0
Fair value adjustment of derivatives	—			—			—			0.4			—			0.4
Stock-based compensation	—			—			1.6			1.3			—			2.9
Deferred income taxes	—			0.5			(0.2		)	4.8			—			5.1
Asset write-downs and other	—			—			1.1			10.3			—			11.4
Excess tax benefits from stock-based payment arrangements	—			—			—			(0.7		)	—			(0.7		)
Changes in assets and liabilities, net of the effect of foreign currency translation and acquisitions:
Accounts receivable	—			—			(8.8		)	(62.8		)	—			(71.6		)
Inventories	—			—			(11.9		)	(82.0		)	—			(93.9		)
Prepaid expenses and other assets	—			(0.1		)	(10.4		)	7.5			—			(3.0		)
Accounts payable	—			—			(2.1		)	(2.1		)	—			(4.2		)
Income taxes payable	—			(0.3		)	1.3			15.3			—			16.3
Accrued expenses and other liabilities	(0.1		)	(6.9		)	(17.0		)	41.4			—			17.4
Intercompany operating activities, net	—			(3.8		)	(0.8		)	4.6			—			—
Net cash (used in) provided by operating activities of continuing operations	(0.1		)	(9.9		)	(18.8		)	76.4			—			47.6
Net cash used in operating activities of discontinued operations	—			—			(1.9		)	—			—			(1.9		)
Net cash (used in) provided by operating activities	(0.1		)	(9.9		)	(20.7		)	76.4			—			45.7
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (a)	—			—			(28.7		)	(45.5		)	—			(74.2		)
Acquisitions	—			—			—			(0.2		)	—			(0.2		)
Proceeds on sale of assets	—			—			—			1.3			—			1.3
Net cash used in investing activities	—			—			(28.7		)	(44.4		)	—			(73.1		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock, net of fees	4.5			—			—			—			—			4.5
Excess tax benefits from stock-based payment arrangements	—			—			—			0.7			—			0.7
Payments of long-term debt	—			(538.4		)	—			(1.3		)	—			(539.7		)
Proceeds from long-term debt	—			350.0			—			5.1			—			355.1
Deferred financing costs	—			(7.7		)	—			—			—			(7.7		)
Fees related to early extinguishment/modification of debt	—			(6.7		)	—			—			—			(6.7		)
Intercompany financing related activity	—			209.7			13.4			(223.1		)	—			—
Net cash provided by (used in) financing activities	4.5			6.9			13.4			(218.6		)	—			(193.8		)
Effect of exchange rate changes on cash and cash equivalents	—			3.0			(0.2		)	(5.2		)	—			(2.4		)
Net increase (decrease) in cash and cash equivalents	4.4			—			(36.2		)	(191.8		)	—			(223.6		)
Cash and cash equivalents of continuing operations, beginning of period	42.7			—			30.1			248.7			—			321.5
Cash and cash equivalents of continuing operations, end of period	$	47.1		$	—		$	(6.1	)	$	56.9		$	—		$	97.9

(a) Net of governments grants of $4.3 million.