Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2017

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Balance Sheet

December 31, 2016
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	222.7	$	3.1	$	37.9	$	—	$	—		$	263.7
Accounts receivable, net	—		—		1,904.9		263.7		—		—			2,168.6
Merchandise inventory	—		—		390.6		61.4		—		—			452.0
Miscellaneous receivables	—		92.6		130.1		12.2		—		—			234.9
Prepaid expenses and other	—		14.3		69.0		35.6		—		—			118.9
Total current assets	—		329.6		2,497.7		410.8		—		—			3,238.1
Property and equipment, net	—		105.6		49.3		8.8		—		—			163.7
Goodwill	—		751.8		1,439.0		264.2		—		—			2,455.0
Other intangible assets, net	—		291.5		565.1		199.0		—		—			1,055.6
Other assets	3.2		19.4		248.2		1.5		—		(236.3		)	36.0
Investment in and advances to subsidiaries	1,042.3		3,026.5		—		—		—		(4,068.8		)	—
Total assets	$	1,045.5	$	4,524.4	$	4,799.3	$	884.3	$	—	$	(4,305.1	)	$	6,948.4
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable-trade	$	—	$	25.9	$	895.3	$	151.7	$	—	$	—		$	1,072.9
Accounts payable-inventory financing	—		1.2		559.5		19.7		—		—			580.4
Current maturities of long-term debt	—		14.9		3.6		—		—		—			18.5
Deferred revenue	—		—		100.8		71.8		—		—			172.6
Accrued expenses	—		173.9		214.8		47.7		—		(0.1		)	436.3
Total current liabilities	—		215.9		1,774.0		290.9		—		(0.1		)	2,280.7
Long-term liabilities:
Debt	—		3,136.3		12.1		67.5		—		—			3,215.9
Deferred income taxes	—		99.1		205.4		67.9		—		(3.2		)	369.2
Other liabilities	—		30.8		3.6		235.7		—		(233.0		)	37.1
Total long-term liabilities	—		3,266.2		221.1		371.1		—		(236.2		)	3,622.2
Total stockholders’ equity	1,045.5		1,042.3		2,804.2		222.3		—		(4,068.8		)	1,045.5
Total liabilities and stockholders’ equity	$	1,045.5	$	4,524.4	$	4,799.3	$	884.3	$	—	$	(4,305.1	)	$	6,948.4

Condensed Consolidating Balance Sheet

June 30, 2017
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	67.0	$	—		$	38.5		$	—	$	(26.5	)	$	79.0
Accounts receivable, net	—		—		2,080.8			254.5			—		—			2,335.3
Merchandise inventory	—		—		434.3			79.3			—		—			513.6
Miscellaneous receivables	—		100.3		214.2			23.3			—		—			337.8
Prepaid expenses and other	—		18.8		68.7			43.5			—		—			131.0
Total current assets	—		186.1		2,798.0			439.1			—		(26.5		)	3,396.7
Property and equipment, net	—		100.1		47.7			12.9			—		—			160.7
Goodwill	—		751.8		1,439.0			278.5			—		—			2,469.3
Other intangible assets, net	—		284.6		494.5			197.5			—		—			976.6
Other assets	2.9		18.8		216.2			0.1			—		(199.7		)	38.3
Investment in and advances to subsidiaries	872.5		3,022.8		(24.0		)	(2.0		)	—		(3,869.3		)	—
Total assets	$	875.4	$	4,364.2	$	4,971.4		$	926.1		$	—	$	(4,095.5	)	$	7,041.6
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable—trade	$	—	$	25.2	$	1,241.3		$	151.6		$	—	$	(26.5	)	$	1,391.6
Accounts payable—inventory financing	—		—		475.7			20.7			—		—			496.4
Current maturities of long-term debt	—		14.9		3.6			—			—		—			18.5
Deferred revenue	—		—		86.1			94.8			—		—			180.9
Accrued expenses	—		201.0		210.5			56.6			—		(0.3		)	467.8
Total current liabilities	—		241.1		2,017.2			323.7			—		(26.8		)	2,555.2
Long-term liabilities:
Debt	—		3,194.2		12.2			71.4			—		—			3,277.8
Deferred income taxes	—		90.3		175.7			66.4			—		(2.9		)	329.5
Other liabilities	—		24.0		6.1			212.3			—		(212.4		)	30.0
Total long-term liabilities	—		3,308.5		194.0			350.1			—		(215.3		)	3,637.3
Total stockholders’ equity	875.4		814.6		2,760.2			252.3			—		(3,853.4		)	849.1
Total liabilities and stockholders’ equity	$	875.4	$	4,364.2	$	4,971.4		$	926.1		$	—	$	(4,095.5	)	$	7,041.6

Consolidating Statements of Operations

Consolidating Statement of Operations

Six Months Ended June 30, 2017
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	6,577.8		$	741.3		$	—	$	—		$	7,319.1
Cost of sales	—		—			5,505.0			620.5			—		—			6,125.5
Gross profit	—		—			1,072.8			120.8			—		—			1,193.6
Selling and administrative expenses	—		63.9			554.4			92.6			—		—			710.9
Advertising expense	—		—			78.8			3.0			—		—			81.8
Income (loss) from operations	—		(63.9		)	439.6			25.2			—		—			400.9
Interest (expense) income, net	—		(74.5		)	2.1			(3.2		)	—		—			(75.6		)
Net loss on extinguishments of long-term debt	—		(57.4		)	—			—			—		—			(57.4		)
Other income	—		0.1			0.2			1.0			—		—			1.3
Income (loss) before income taxes	—		(195.7		)	441.9			23.0			—		—			269.2
Income tax benefit (expense)	—		86.6			(151.0		)	(6.1		)	—		—			(70.5		)
Income (loss) before equity in earnings of subsidiaries	—		(109.1		)	290.9			16.9			—		—			198.7
Equity in earnings of subsidiaries	198.8		307.8			—			—			—		(506.6		)	—
Net income	$	198.8	$	198.7		$	290.9		$	16.9		$	—	$	(506.6	)	$	198.7

Consolidating Statement of Operations

Three Months Ended June 30, 2017
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	3,626.2		$	368.2		$	—	$	—		$	3,994.4
Cost of sales	—		—			3,045.8			307.5			—		—			3,353.3
Gross profit	—		—			580.4			60.7			—		—			641.1
Selling and administrative expenses	—		32.4			284.7			46.4			—		—			363.5
Advertising expense	—		—			44.9			1.6			—		—			46.5
Income (loss) from operations	—		(32.4		)	250.8			12.7			—		—			231.1
Interest (expense) income, net	—		(35.4		)	1.1			(1.6		)	—		—			(35.9		)
Other income	—		—			—			0.3			—		—			0.3
Income (loss) before income taxes	—		(67.8		)	251.9			11.4			—		—			195.5
Income tax benefit (expense)	—		29.3			(80.7		)	(3.1		)	—		—			(54.5		)
Income (loss) before equity in earnings of subsidiaries	—		(38.5		)	171.2			8.3			—		—			141.0
Equity in earnings of subsidiaries	141.1		179.6			—			—			—		(320.7		)	—
Net income	$	141.1	$	141.1		$	171.2		$	8.3		$	—	$	(320.7	)	$	141.0

Consolidating Statement of Operations

Six Months Ended June 30, 2016
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	6,087.9		$	693.4		$	—	$	—		$	6,781.3
Cost of sales	—		—			5,062.8			583.5			—		—			5,646.3
Gross profit	—		—			1,025.1			109.9			—		—			1,135.0
Selling and administrative expenses	—		53.1			531.1			89.8			—		—			674.0
Advertising expense	—		—			73.9			2.6			—		—			76.5
Income (loss) from operations	—		(53.1		)	420.1			17.5			—		—			384.5
Interest (expense) income, net	—		(74.8		)	3.8			(4.0		)	—		—			(75.0		)
Other income	—		—			0.7			1.2			—		—			1.9
Income (loss) before income taxes	—		(127.9		)	424.6			14.7			—		—			311.4
Income tax benefit (expense)	—		48.6			(160.5		)	(4.2		)	—		—			(116.1		)
Income (loss) before equity in earnings of subsidiaries	—		(79.3		)	264.1			10.5			—		—			195.3
Equity in earnings of subsidiaries	195.3		274.6			—			—			—		(469.9		)	—
Net income	$	195.3	$	195.3		$	264.1		$	10.5		$	—	$	(469.9	)	$	195.3

Consolidating Statement of Operations

Three Months Ended June 30, 2016
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	3,326.2		$	338.4		$	—	$	—		$	3,664.6
Cost of sales	—		—			2,771.3			282.8			—		—			3,054.1
Gross profit	—		—			554.9			55.6			—		—			610.5
Selling and administrative expenses	—		29.4			270.5			44.8			—		—			344.7
Advertising expense	—		—			40.9			1.4			—		—			42.3
Income (loss) from operations	—		(29.4		)	243.5			9.4			—		—			223.5
Interest (expense) income, net	—		(37.5		)	2.5			(1.9		)	—		—			(36.9		)
Other income	—		—			—			0.9			—		—			0.9
Income (loss) before income taxes	—		(66.9		)	246.0			8.4			—		—			187.5
Income tax benefit (expense)	—		25.2			(92.9		)	(2.3		)	—		—			(70.0		)
Income (loss) before equity in earnings of subsidiaries	—		(41.7		)	153.1			6.1			—		—			117.5
Equity in earnings of subsidiaries	117.5		159.2			—			—			—		(276.7		)	—
Net income	$	117.5	$	117.5		$	153.1		$	6.1		$	—	$	(276.7	)	$	117.5

Condensed Statement of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2016
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	82.5	$	82.5	$	153.1	$	(28.9	)	$	—	$	(206.7	)	$	82.5

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2017
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	158.7	$	158.7	$	171.2	$	27.2	$	—	$	(357.1	)	$	158.7

Condensed Consolidating Statement of Comprehensive Income

Six Months Ended June 30, 2017
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	222.5	$	222.5	$	290.9	$	42.3	$	—	$	(555.7	)	$	222.5

Condensed Consolidating Statement of Comprehensive Income

Six Months Ended June 30, 2016
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	152.4	$	152.4	$	264.1	$	(32.4	)	$	—	$	(384.1	)	$	152.4

Condensed Consolidating Statements Cash Flows

Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 2016
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	—		$	(79.4	)	$	326.3		$	45.4		$	—	$	20.8		$	313.1
Cash flows from investing activities:
Capital expenditures	—			(22.1		)	(1.9		)	(1.7		)	—		—			(25.7		)
Net cash used in investing activities	—			(22.1		)	(1.9		)	(1.7		)	—		—			(25.7		)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility	—			105.4			—			—			—		—			105.4
Repayments of borrowings under revolving credit facility	—			(105.4		)	—			—			—		—			(105.4		)
Repayments of long-term debt	—			(7.7		)	—			(5.7		)	—		—			(13.4		)
Net change in accounts payable - inventory financing	—			0.1			70.9			0.3			—		—			71.3
Proceeds from stock option exercises	—			3.8			—			—			—		—			3.8
Excess tax benefits from equity-based compensation	—			0.7			—			—			—		—			0.7
Proceeds from Coworker Stock Purchase Plan	—			4.5			—			—			—		—			4.5
Repurchases of common stock	(223.1		)	—			—			—			—		—			(223.1		)
Dividends	(35.7		)	—			—			—			—		—			(35.7		)
Principal payments under capital lease obligations	—			—			—			(0.8		)	—		—			(0.8		)
Distributions and advances from (to) affiliates	258.8			136.4			(395.3		)	3.2			—		(3.1		)	—
Net cash (used in) provided by financing activities	—			137.8			(324.4		)	(3.0		)	—		(3.1		)	(192.7		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(2.9		)	—		—			(2.9		)
Net (decrease) increase in cash and cash equivalents	—			36.3			—			37.8			—		17.7			91.8
Cash and cash equivalents—beginning of period	—			45.1			—			31.9			—		(39.4		)	37.6
Cash and cash equivalents—end of period	$	—		$	81.4		$	—		$	69.7		$	—	$	(21.7	)	$	129.4

Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 2017
(in millions)	Parent Guarantor				Subsidiary Issuer				Guarantor Subsidiaries				Non-Guarantor Subsidiaries				Co-Issuer			Consolidating Adjustments				Consolidated
Net cash provided by (used in) operating activities	$	—			$	(22.1	)		$	391.5			$	40.7			$	—		$	(33.9	)		$	376.2
Cash flows from investing activities:
Capital expenditures	—				(26.6		)		(4.3		)		(5.9		)		—			—				(36.8		)
Net cash used in investing activities	—				(26.6		)		(4.3		)		(5.9		)		—			—				(36.8		)
Cash flows from financing activities:
Proceeds from borrowings under revolving credit facility	—				54.0				—				13.7				—			—				67.7
Repayments of borrowings under revolving credit facility	—				—				—				(13.7		)		—			—				(13.7		)
Repayments of long-term debt and revolving loan	—				(7.5		)		—				—				—			—				(7.5		)
Proceeds from the issuance of long-term debt	—				2,083.0				—				—				—			—				2,083.0
Payments to extinguish long-term debt	—				(2,121.3		)		—				—				—			—				(2,121.3		)
Payments of debt financing costs	—				(9.6		)		—				—				—			—				(9.6		)
Net change in accounts payable-inventory financing	—				(1.2		)		(83.9		)		—				—			—				(85.1		)
Proceeds from stock option exercises	—				7.4				—				—				—			—				7.4
Proceeds from Coworker Stock Purchase Plan	—				4.7				—				—				—			—				4.7
Repurchases of common stock	(359.4		)		—				—				—				—			—				(359.4		)
Payment of incentive compensation plan withholding taxes	—				(16.0		)		(24.0		)		(2.0		)		—			—				(42.0		)
Dividends	(50.3		)		—				—				—				—			—				(50.3		)
Principal payments under capital lease obligations	—				—				(0.1		)		(0.5		)		—			—				(0.6		)
Repayment of intercompany loan	—				—				34.3				(34.3		)		—			—				—
Distributions and advances from (to) affiliates	409.7				(100.5		)		(316.6		)		—				—			7.4				—
Net cash (used in) provided by financing activities	—			—	(107.0		)	—	(390.3		)	—	(36.8		)	—	—		—	7.4			—	(526.7		)
Effect of exchange rate changes on cash and cash equivalents	—				—				—				2.6				—			—				2.6
Net increase in cash and cash equivalents	—				(155.7		)		(3.1		)		0.6				—			(26.5		)		(184.7		)
Cash and cash equivalents—beginning of period	—				222.7				3.1				37.9				—			—				263.7
Cash and cash equivalents—end of period	$	—			$	67.0			$	—			$	38.5			$	—		$	(26.5	)		$	79.0