Supplemental Guarantor Information (Tables)

9 Months Ended

Sep. 30, 2015

Condensed Income Statements, Captions [Line Items]

Condensed Consolidating Balance Sheets

Condensed Consolidating Balance Sheet
September 30, 2015
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	46.1	$	—	$	51.9	$	—	$	(0.5	)	$	97.5
Accounts receivable, net	—		—		1,659.1		200.9		—		—			1,860.0
Merchandise inventory	—		—		381.9		29.5		—		—			411.4
Miscellaneous receivables	—		62.9		147.8		20.0		—		(0.1		)	230.6
Prepaid expenses and other	—		15.8		65.7		56.2		—		(2.3		)	135.4
Total current assets	—		124.8		2,254.5		358.5		—		(2.9		)	2,734.9
Property and equipment, net	—		87.9		54.5		12.0		—		—			154.4
Equity investments	—		—		—		—		—		—			—
Goodwill	—		751.8		1,439.0		326.6		—		—			2,517.4
Other intangible assets, net	—		306.8		739.5		279.1		—		—			1,325.4
Other assets	3.8		10.8		262.4		3.4		—		(271.0		)	9.4
Investment in and advances to subsidiaries	1,071.9		3,306.9		—		—		—		(4,378.8		)	—
Total assets	$	1,075.7	$	4,589.0	$	4,749.9	$	979.6	$	—	$	(4,652.7	)	$	6,741.5
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable—trade	$	—	$	28.7	$	825.3	$	159.2	$	—	$	(0.5	)	$	1,012.7
Accounts payable—inventory financing	—		—		354.8		—		—		(0.1		)	354.7
Current maturities of long-term debt	—		15.4		—		12.1		—		—			27.5
Deferred revenue	—		—		78.4		48.0		—		—			126.4
Accrued expenses	—		148.5		170.5		34.5		—		(2.9		)	350.6
Total current liabilities	—		192.6		1,429.0		253.8		—		(3.5		)	1,871.9
Long-term liabilities:
Debt	—		3,159.3		—		81.0		—		—			3,240.3
Deferred income taxes	—		119.3		286.5		94.0		—		(3.9		)	495.9
Other liabilities	—		45.9		3.2		275.1		—		(266.5		)	57.7
Total long-term liabilities	—		3,324.5		289.7		450.1		—		(270.4		)	3,793.9
Total shareholders’ equity	1,075.7		1,071.9		3,031.2		275.7		—		(4,378.8		)	1,075.7
Total liabilities and shareholders’ equity	$	1,075.7	$	4,589.0	$	4,749.9	$	979.6	$	—	$	(4,652.7	)	$	6,741.5

Condensed Consolidating Balance Sheet
December 31, 2014
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary		Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	346.4	$	—	$	24.6	$	—	$	(26.5	)	$	344.5
Accounts receivable, net	—		—		1,479.1		82.0		—		—			1,561.1
Merchandise inventory	—		—		333.9		3.6		—		—			337.5
Miscellaneous receivables	—		56.1		93.3		6.2		—		—			155.6
Prepaid expenses and other	—		11.0		46.0		1.5		—		(3.8		)	54.7
Total current assets	—		413.5		1,952.3		117.9		—		(30.3		)	2,453.4
Property and equipment, net	—		80.5		55.5		1.2		—		—			137.2
Equity investments	—		86.7		—		—		—		—			86.7
Goodwill	—		751.8		1,439.0		26.8		—		—			2,217.6
Other intangible assets, net	—		320.0		843.6		5.2		—		—			1,168.8
Other assets	4.3		12.2		0.4		1.4		—		(6.1		)	12.2
Investment in and advances to subsidiaries	932.2		2,784.5		—		—		—		(3,716.7		)	—
Total assets	$	936.5	$	4,449.2	$	4,290.8	$	152.5	$	—	$	(3,753.1	)	$	6,075.9
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable-trade	$	—	$	23.9	$	671.9	$	34.7	$	—	$	(26.5	)	$	704.0
Accounts payable-inventory financing	—		—		332.1		—		—		—			332.1
Current maturities of long-term debt	—		15.4		—		—		—		—			15.4
Deferred revenue	—		—		79.9		1.4		—		—			81.3
Accrued expenses	—		137.8		193.6		7.9		—		(4.1		)	335.2
Total current liabilities	—		177.1		1,277.5		44.0		—		(30.6		)	1,468.0
Long-term liabilities:
Debt	—		3,150.6		—		—		—		—			3,150.6
Deferred income taxes	—		146.7		331.3		1.3		—		(4.3		)	475.0
Other liabilities	—		42.6		3.7		1.0		—		(1.5		)	45.8
Total long-term liabilities	—		3,339.9		335.0		2.3		—		(5.8		)	3,671.4
Total shareholders’ equity	936.5		932.2		2,678.3		106.2		—		(3,716.7		)	936.5
Total liabilities and shareholders’ equity	$	936.5	$	4,449.2	$	4,290.8	$	152.5	$	—	$	(3,753.1	)	$	6,075.9

Consolidating Statements of Operations

Consolidating Statement of Operations
Three Months Ended September 30, 2014
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	3,140.6		$	125.5		$	—	$	—		$	3,266.1
Cost of sales	—		—			2,648.8			110.0			—		—			2,758.8
Gross profit	—		—			491.8			15.5			—		—			507.3
Selling and administrative expenses	—		28.3			248.7			8.4			—		—			285.4
Advertising expense	—		—			36.4			0.8			—		—			37.2
Income (loss) from operations	—		(28.3		)	206.7			6.3			—		—			184.7
Interest (expense) income, net	—		(50.2		)	0.1			—			—		—			(50.1		)
Net loss on extinguishments of long-term debt	—		(45.8		)	—			—			—		—			(45.8		)
Management fee	—		0.9			—			(0.9		)	—		—			—
Other income (expense), net	—		—			0.6			0.1			—		—			0.7
Income (loss) before income taxes	—		(123.4		)	207.4			5.5			—		—			89.5
Income tax benefit (expense)	—		46.0			(78.4		)	(1.5		)	—		—			(33.9		)
Income (loss) before equity in earnings of subsidiaries	—		(77.4		)	129.0			4.0			—		—			55.6
Equity in earnings of subsidiaries	55.6		133.0			—			—			—		(188.6		)	—
Net income	$	55.6	$	55.6		$	129.0		$	4.0		$	—	$	(188.6	)	$	55.6

Consolidating Statement of Operations
Three Months Ended September 30, 2015
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	3,248.6		$	252.5		$	—	$	—		$	3,501.1
Cost of sales	—		—			2,720.4			213.5			—		—			2,933.9
Gross profit	—		—			528.2			39.0			—		—			567.2
Selling and administrative expenses	—		27.3			261.7			32.4			—		—			321.4
Advertising expense	—		—			39.8			1.4			—		—			41.2
Income (loss) from operations	—		(27.3		)	226.7			5.2			—		—			204.6
Interest (expense) income, net	—		(37.9		)	0.9			(1.5		)	—		—			(38.5		)
Net loss on extinguishments of long-term debt	—		—			—			—			—		—			—
Management fee	—		1.0			—			(1.0		)	—		—			—
Gain on remeasurement of equity investment	—		—			—			98.1			—		—			98.1
Other income (expense), net	—		(18.8		)	0.4			0.4			—		—			(18.0		)
Income (loss) before income taxes	—		(83.0		)	228.0			101.2			—		—			246.2
Income tax benefit (expense)	—		31.3			(86.0		)	(40.6		)	—		—			(95.3		)
Income (loss) before equity in earnings of subsidiaries	—		(51.7		)	142.0			60.6			—		—			150.9
Equity in earnings of subsidiaries	150.9		202.6			—			—			—		(353.5		)	—
Net income	$	150.9	$	150.9		$	142.0		$	60.6		$	—	$	(353.5	)	$	150.9

Consolidating Statement of Operations
Nine Months Ended September 30, 2015
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	9,063.3		$	507.0		$	—	$	—		$	9,570.3
Cost of sales	—		—			7,574.6			437.5			—		—			8,012.1
Gross profit	—		—			1,488.7			69.5			—		—			1,558.2
Selling and administrative expenses	—		84.7			753.1			49.7			—		—			887.5
Advertising expense	—		—			105.4			3.2			—		—			108.6
Income (loss) from operations	—		(84.7		)	630.2			16.6			—		—			562.1
Interest (expense) income, net	—		(120.7		)	0.9			(1.3		)	—		—			(121.1		)
Net loss on extinguishments of long-term debt	—		(24.3		)	—			—			—		—			(24.3		)
Management fee	—		3.2			—			(3.2		)	—		—			—
Gain on remeasurement of equity investment	—		—			—			98.1			—		—			98.1
Other income (expense), net	—		(10.9		)	1.4			—			—		—			(9.5		)
Income (loss) before income taxes	—		(237.4		)	632.5			110.2			—		—			505.3
Income tax benefit (expense)	—		89.1			(237.5		)	(43.1		)	—		—			(191.5		)
Income (loss) before equity in earnings of subsidiaries	—		(148.3		)	395.0			67.1			—		—			313.8
Equity in earnings of subsidiaries	313.8		462.1			—			—			—		(775.9		)	—
Net income	$	313.8	$	313.8		$	395.0		$	67.1		$	—	$	(775.9	)	$	313.8

Consolidating Statement of Operations
Nine Months Ended September 30, 2014
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	8,631.7		$	392.7		$	—	$	—		$	9,024.4
Cost of sales	—		—			7,248.7			346.3			—		—			7,595.0
Gross profit	—		—			1,383.0			46.4			—		—			1,429.4
Selling and administrative expenses	—		82.0			712.3			25.9			—		—			820.2
Advertising expense	—		—			97.8			2.7			—		—			100.5
Income (loss) from operations	—		(82.0		)	572.9			17.8			—		—			508.7
Interest (expense) income, net	—		(149.0		)	0.1			0.2			—		—			(148.7		)
Net loss on extinguishments of long-term debt	—		(53.8		)	—			—			—		—			(53.8		)
Management fee	—		2.9			—			(2.9		)	—		—			—
Other income (expense), net	—		0.1			1.4			(0.1		)	—		—			1.4
Income (loss) before income taxes	—		(281.8		)	574.4			15.0			—		—			307.6
Income tax benefit (expense)	—		105.1			(215.6		)	(4.0		)	—		—			(114.5		)
Income (loss) before equity in earnings of subsidiaries	—		(176.7		)	358.8			11.0			—		—			193.1
Equity in earnings of subsidiaries	193.1		369.8			—			—			—		(562.9		)	—
Net income	$	193.1	$	193.1		$	358.8		$	11.0		$	—	$	(562.9	)	$	193.1

Condensed Consolidating Statements of Comprehensive Income (Loss)

Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2014
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	187.7	$	187.7	$	358.8	$	5.6	$	—	$	(552.1	)	$	187.7

Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2014
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	50.4	$	50.4	$	129.0	$	(1.2	)	$	—	$	(178.2	)	$	50.4

Condensed Consolidating Statement of Comprehensive Income
Nine Months Ended September 30, 2015
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	285.1	$	285.1	$	395.0	$	38.4	$	—	$	(718.5	)	$	285.1

Condensed Consolidating Statement of Comprehensive Income
Three Months Ended September 30, 2015
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	128.5	$	128.5	$	142.0	$	38.2	$	—	$	(308.8	)	$	128.4

Condensed Consolidating Statements Cash Flows

Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2014
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiary			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	—		$	(127.2	)	$	450.9		$	17.1		$	—	$	9.7		$	350.5
Cash flows from investing activities:
Capital expenditures	—			(29.9		)	(4.5		)	—			—		—			(34.4		)
Payment of accrued charitable contribution related to the MPK Coworker Incentive Plan II	—			(20.9		)	—			—			—		—			(20.9		)
Premium payments on interest rate cap agreements	—			(0.7		)	—			—			—		—			(0.7		)
Net cash used in investing activities	—			(51.5		)	(4.5		)	—			—		—			(56.0		)
Cash flows from financing activities:
Repayments of long-term debt	—			(11.6		)	—			—			—		—			(11.6		)
Proceeds from issuance of long-term debt	—			600.0			—			—			—		—			600.0
Payments to extinguish long-term debt	—			(723.9		)	—			—			—		—			(723.9		)
Payment of debt financing costs	—			(14.4		)	—			—			—		—			(14.4		)
Net change in accounts payable - inventory financing	—			—			43.1			—			—		—			43.1
Proceeds from stock option exercises	—			1.1			—			—			—		—			1.1
Proceeds from Coworker Stock Purchase Plan	—			3.7			—			—			—		—			3.7
Dividends paid	(21.9		)	—			—			—			—		—			(21.9		)
Excess tax benefits from equity-based compensation	—			0.2			—			—			—		—			0.2
Advances from (to) affiliates	21.9			467.1			(489.5		)	0.5			—		—			—
Net cash provided by (used in) financing activities	—			322.2			(446.4		)	0.5			—		—			(123.7		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(1.1		)	—		—			(1.1		)
Net increase in cash and cash equivalents	—			143.5			—			16.5			—		9.7			169.7
Cash and cash equivalents—beginning of period	—			196.5			—			14.0			—		(22.4		)	188.1
Cash and cash equivalents—end of period	$	—		$	340.0		$	—		$	30.5		$	—	$	(12.7	)	$	357.8

Condensed Consolidating Statement of Cash Flows
Nine Months Ended September 30, 2015
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash (used in) provided by operating activities	$	—		$	(36.2	)	$	331.7		$	47.1		$	—	$	(47.7	)	$	294.9
Cash flows from investing activities:
Capital expenditures	—			(35.2		)	(7.4		)	(1.3		)	—		—			(43.9		)
Premium payments on interest rate cap agreements	—			(0.5		)	—			—			—		—			(0.5		)
Acquisition of business, net of cash acquired	—			—			—			(263.8		)	—		—			(263.8		)
Net cash used in investing activities	—			(35.7		)	(7.4		)	(265.1		)	—		—			(308.2		)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility	—			105.0			—			—			—		—			105.0
Repayments of borrowings under revolving credit facility	—			(105.0		)	—			—			—		—			(105.0		)
Repayments of long-term debt	—			(11.6		)	—			(14.5		)	—		—			(26.1		)
Proceeds from the issuance of long-term debt	—			525.0			—			—			—		—			525.0
Payments to extinguish long-term debt	—			(525.3		)	—			—			—		—			(525.3		)
Payments of debt financing costs	—			(6.8		)	—			—			—		—			(6.8		)
Net change in accounts payable-inventory financing	—			—			22.6			—			—		—			22.6
Proceeds from stock option exercises	—			1.7			—			—			—		—			1.7
Proceeds from Coworker Stock Purchase Plan	—			6.5			—			—			—		—			6.5
Shares repurchased	(193.3		)	—			—			—			—		—			(193.3		)
Dividends paid	(34.6		)	—			—			—			—		—			(34.6		)
Excess tax benefits from equity-based compensation	—			0.4			—			—			—		—			0.4
Advances from (to) affiliates	227.9			(218.3		)	(346.9		)	263.6			—		73.7			—
Net cash provided by (used in) financing activities	—			(228.4		)	(324.3		)	249.1			—		73.7			(229.9		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(3.8		)	—		—			(3.8		)
Net (decrease)/increase in cash and cash equivalents	—			(300.3		)	—			27.3			—		26.0			(247.0		)
Cash and cash equivalents—beginning of period	—			346.4			—			24.6			—		(26.5		)	344.5
Cash and cash equivalents—end of period	$	—		$	46.1		$	—		$	51.9		$	—	$	(0.5	)	$	97.5