Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2013

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheet
December 31, 2012
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	48.0	$	—	$	9.8		$	—	$	(19.9	)	$	37.9
Accounts receivable, net	—		—		1,217.7		67.3			—		—			1,285.0
Merchandise inventory	—		—		313.2		1.4			—		—			314.6
Miscellaneous receivables	—		61.7		82.0		4.8			—		—			148.5
Deferred income taxes	—		8.7		5.5		(0.1		)	—		—			14.1
Prepaid expenses and other	—		10.1		24.4		0.1			—		—			34.6
Total current assets	—		128.5		1,642.8		83.3			—		(19.9		)	1,834.7
Property and equipment, net	—		73.9		66.2		2.6			—		—			142.7
Goodwill	—		749.4		1,428.5		31.4			—		—			2,209.3
Other intangible assets, net	—		348.6		1,121.7		8.2			—		—			1,478.5
Deferred financing costs, net	—		53.2		—		—			—		—			53.2
Other assets	5.4		1.1		0.4		0.6			—		(5.9		)	1.6
Investment in and advances to subsidiaries	131.1		2,946.0		—		—			—		(3,077.1		)	—
Total assets	$	136.5	$	4,300.7	$	4,259.6	$	126.1		$	—	$	(3,102.9	)	$	5,720.0
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable-trade	$	—	$	16.5	$	500.3	$	21.7		$	—	$	(19.9	)	$	518.6
Accounts payable-inventory financing	—		—		249.2		—			—		—			249.2
Current maturities of long-term debt	—		40.0		—		—			—		—			40.0
Deferred revenue	—		—		57.8		—			—		—			57.8
Accrued expenses	—		139.3		157.4		5.9			—		—			302.6
Total current liabilities	—		195.8		964.7		27.6			—		(19.9		)	1,168.2
Long-term liabilities:
Debt	—		3,731.0		—		—			—		—			3,731.0
Deferred income taxes	—		188.1		440.0		1.7			—		(5.5		)	624.3
Accrued interest	—		8.0		—		—			—		—			8.0
Other liabilities	—		46.7		4.0		1.7			—		(0.4		)	52.0
Total long-term liabilities	—		3,973.8		444.0		3.4			—		(5.9		)	4,415.3
Total shareholders’ equity	136.5		131.1		2,850.9		95.1			—		(3,077.1		)	136.5
Total liabilities and shareholders' equity	$	136.5	$	4,300.7	$	4,259.6	$	126.1		$	—	$	(3,102.9	)	$	5,720.0

Condensed Consolidating Balance Sheet
March 31, 2013
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	123.4	$	7.9	$	16.2		$	—	$	(0.4	)	$	147.1
Accounts receivable, net	—		—		1,193.0		71.5			—		—			1,264.5
Merchandise inventory	—		—		354.1		4.3			—		—			358.4
Miscellaneous receivables	—		49.7		95.9		5.9			—		—			151.5
Deferred income taxes	—		8.6		4.6		(0.1		)	—		—			13.1
Prepaid expenses and other	—		16.2		34.7		0.6			—		—			51.5
Total current assets	—		197.9		1,690.2		98.4			—		(0.4		)	1,986.1
Property and equipment, net	—		68.2		63.4		2.4			—		—			134.0
Goodwill	—		749.4		1,428.5		30.6			—		—			2,208.5
Other intangible assets, net	—		348.6		1,087.2		7.8			—		—			1,443.6
Deferred financing costs, net	—		49.3		—		—			—		—			49.3
Other assets	5.3		1.1		0.1		0.6			—		(5.9		)	1.2
Investment from and advances to subsidiaries	158.5		2,881.2		—		—			—		(3,039.7		)	—
Total assets	$	163.8	$	4,295.7	$	4,269.4	$	139.8		$	—	$	(3,046.0	)	$	5,822.7
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable—trade	$	—	$	16.3	$	591.1	$	35.1		$	—	$	(0.4	)	$	642.1
Accounts payable—inventory financing	—		—		252.9		—			—		—			252.9
Deferred revenue	—		—		65.7		0.3			—		—			66.0
Accrued expenses	—		202.3		143.7		5.9			—		—			351.9
Total current liabilities	—		218.6		1,053.4		41.3			—		(0.4		)	1,312.9
Long-term liabilities:
Debt	—		3,680.8		—		—			—		—			3,680.8
Deferred income taxes	—		186.5		426.1		1.7			—		(5.3		)	609.0
Accrued interest	—		6.9		—		—			—		—			6.9
Other liabilities	—		44.4		3.8		1.7			—		(0.6		)	49.3
Total long-term liabilities	—		3,918.6		429.9		3.4			—		(5.9		)	4,346.0
Total shareholders’ equity	163.8		158.5		2,786.1		95.1			—		(3,039.7		)	163.8
Total liabilities and shareholders’ equity	$	163.8	$	4,295.7	$	4,269.4	$	139.8		$	—	$	(3,046.0	)	$	5,822.7

Consolidating Statements of Operations

Consolidating Statement of Operations
Three Months Ended March 31, 2012
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	2,213.0		$	106.2		$	—	$	—		$	2,319.2
Cost of sales	—		—			1,842.0			92.6			—		—			1,934.6
Gross profit	—		—			371.0			13.6			—		—			384.6
Selling and administrative expenses	—		25.8			217.2			8.6			—		—			251.6
Advertising expense	—		—			28.6			0.8			—		—			29.4
(Loss) income from operations	—		(25.8		)	125.2			4.2			—		—			103.6
Interest (expense) income, net	—		(79.2		)	0.3			—			—		—			(78.9		)
Net loss on extinguishments of long-term debt	—		(9.4		)	—			—			—		—			(9.4		)
Management fee	—		1.4			—			(1.4		)	—		—			—
Other (expense) income, net	—		(0.3		)	0.1			—			—		—			(0.2		)
(Loss) income before income taxes	—		(113.3		)	125.6			2.8			—		—			15.1
Income tax benefit (expense)	—		48.8			(52.2		)	(0.8		)	—		—			(4.2		)
(Loss) income before equity in earnings of subsidiaries	—		(64.5		)	73.4			2.0			—		—			10.9
Equity in earnings of subsidiaries	10.9		75.4			—			—			—		(86.3		)	—
Net income	$	10.9	$	10.9		$	73.4		$	2.0		$	—	$	(86.3	)	$	10.9

Consolidating Statement of Operations
Three Months Ended March 31, 2013
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	2,289.8		$	121.9		$	—	$	—		$	2,411.7
Cost of sales	—		—			1,902.1			107.6			—		—			2,009.7
Gross profit	—		—			387.7			14.3			—		—			402.0
Selling and administrative expenses	—		25.7			216.7			9.1			—		—			251.5
Advertising expense	—		—			29.6			0.8			—		—			30.4
(Loss) income from operations	—		(25.7		)	141.4			4.4			—		—			120.1
Interest (expense) income, net	—		(72.2		)	—			0.1			—		—			(72.1		)
Net loss on extinguishments of long-term debt	—		(3.9		)	—			—			—		—			(3.9		)
Management fee	—		0.9			—			(0.9		)	—		—			—
Other income, net	—		—			0.3			0.1			—		—			0.4
(Loss) income before income taxes	—		(100.9		)	141.7			3.7			—		—			44.5
Income tax benefit (expense)	—		37.7			(53.0		)	(0.9		)	—		—			(16.2		)
(Loss) income before equity in earnings of subsidiaries	—		(63.2		)	88.7			2.8			—		—			28.3
Equity in earnings of subsidiaries	28.3		91.5			—			—			—		(119.8		)	—
Net income	$	28.3	$	28.3		$	88.7		$	2.8		$	—	$	(119.8	)	$	28.3

Condensed Consolidating Statements of Comprehensive Income (Loss)

Condensed Consolidating Statement of Comprehensive Income
Three Months Ended March 31, 2013
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	25.9	$	25.9	$	88.7	$	0.4	$	—	$	(115.0	)	$	25.9

Condensed Consolidating Statement of Comprehensive Income
Three Months Ended March 31, 2012
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	12.8	$	12.8	$	73.4	$	3.8	$	—	$	(90.0	)	$	12.8

Condensed Consolidating Statements Cash Flows

Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2012
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	—	$	(10.0	)	$	250.9		$	8.2		$	—	$	(26.1	)	$	223.0
Cash flows from investing activities:
Capital expenditures	—		(2.8		)	(5.4		)	(0.1		)	—		—			(8.3		)
Net cash used in investing activities	—		(2.8		)	(5.4		)	(0.1		)	—		—			(8.3		)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility	—		148.0			—			—			—		—			148.0
Repayments of borrowings under revolving credit facility	—		(148.0		)	—			—			—		—			(148.0		)
Repayments of long-term debt	—		(201.0		)	—			—			—		—			(201.0		)
Proceeds from issuance of long-term debt	—		135.7			—			—			—		—			135.7
Payments to extinguish long-term debt	—		(136.9		)	—			—			—		—			(136.9		)
Net change in accounts payable - inventory financing	—		—			(74.0		)	—			—		—			(74.0		)
Advances from (to) affiliates	—		167.7			(167.8		)	0.1			—		—			—
Other financing activities	—		(2.2		)	—			—			—		—			(2.2		)
Net cash (used in) provided by financing activities	—		(36.7		)	(241.8		)	0.1			—		—			(278.4		)
Effect of exchange rate changes on cash and cash equivalents	—		—			—			0.3			—		—			0.3
Net (decrease) increase in cash and cash equivalents	—		(49.5		)	3.7			8.5			—		(26.1		)	(63.4		)
Cash and cash equivalents—beginning of period	—		102.1			15.8			8.1			—		(26.1		)	99.9
Cash and cash equivalents—end of period	$	—	$	52.6		$	19.5		$	16.6		$	—	$	(52.2	)	$	36.5

Condensed Consolidating Statement of Cash Flows
Three Months Ended March 31, 2013
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash provided by operating activities	$	—	$	9.7		$	171.7		$	7.1		$	—	$	19.5		$	208.0
Cash flows from investing activities:
Capital expenditures	—		(7.8		)	(1.0		)	—			—		—			(8.8		)
Net cash used in investing activities	—		(7.8		)	(1.0		)	—			—		—			(8.8		)
Cash flows from financing activities:
Repayments of long-term debt	—		(40.0		)	—			—			—		—			(40.0		)
Payments to extinguish long-term debt	—		(53.1		)	—			—			—		—			(53.1		)
Net change in accounts payable-inventory financing	—		—			3.7			—			—		—			3.7
Advances from (to) affiliates	—		166.7			(166.5		)	(0.2		)	—		—			—
Other financing activities	—		(0.1		)	—			—			—		—			(0.1		)
Net cash provided by (used in) financing activities	—		73.5			(162.8		)	(0.2		)	—		—			(89.5		)
Effect of exchange rate changes on cash and cash equivalents	—		—			—			(0.5		)	—		—			(0.5		)
Net increase in cash and cash equivalents	—		75.4			7.9			6.4			—		19.5			109.2
Cash and cash equivalents—beginning of period	—		48.0			—			9.8			—		(19.9		)	37.9
Cash and cash equivalents—end of period	$	—	$	123.4		$	7.9		$	16.2		$	—	$	(0.4	)	$	147.1