Supplemental Guarantor Information (Tables)

6 Months Ended

Jun. 30, 2018

Supplemental Guarantor Information [Abstract]

Condensed Consolidating Balance Sheet

June 30, 2018
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	70.9	$	—	$	52.4	$	—	$	(22.6	)	$	100.7
Accounts receivable, net	—		—		2,263.8		348.4		—		—			2,612.2
Merchandise inventory	—		—		502.2		74.7		—		—			576.9
Miscellaneous receivables	—		114.5		244.1		15.2		—		—			373.8
Prepaid expenses and other	—		20.4		120.6		40.1		—		—			181.1
Total current assets	—		205.8		3,130.7		530.8		—		(22.6		)	3,844.7
Property and equipment, net	—		85.9		40.7		23.7		—		—			150.3
Goodwill	—		751.8		1,439.0		281.7		—		—			2,472.5
Other intangible assets, net	—		273.6		353.1		175.6		—		—			802.3
Other assets	1.5		69.6		159.2		1.2		—		(171.2		)	60.3
Investment in and advances to subsidiaries	1,067.4		3,158.6		—		—		—		(4,226.0		)	—
Total Assets	$	1,068.9	$	4,545.3	$	5,122.7	$	1,013.0	$	—	$	(4,419.8	)	$	7,330.1
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable-trade	$	—	$	31.9	$	1,460.9	$	223.4	$	—	$	(22.6	)	$	1,693.6
Accounts payable-inventory financing	—		0.1		380.1		7.4		—		—			387.6
Current maturities of long-term debt	—		14.9		3.8		19.9		—		—			38.6
Contract liabilities	—		—		87.4		82.5		—		—			169.9
Accrued expenses and other current liabilities	—		186.6		276.6		67.1		—		—			530.3
Total current liabilities	—		233.5		2,208.8		400.3		—		(22.6		)	2,820.0
Long-term liabilities:
Debt	—		3,127.2		8.3		66.2		—		—			3,201.7
Deferred income taxes	—		67.6		78.3		28.5		—		(1.5		)	172.9
Other liabilities	—		49.6		4.3		182.4		—		(169.7		)	66.6
Total long-term liabilities	—		3,244.4		90.9		277.1		—		(171.2		)	3,441.2
Total stockholders' equity	1,068.9		1,067.4		2,823.0		335.6		—		(4,226.0		)	1,068.9
Total Liabilities and Stockholders' Equity	$	1,068.9	$	4,545.3	$	5,122.7	$	1,013.0	$	—	$	(4,419.8	)	$	7,330.1

Condensed Consolidating Balance Sheet

December 31, 2017
(as adjusted)
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—	$	113.7	$	—	$	32.4	$	—	$	(1.9	)	$	144.2
Accounts receivable, net	—		—		2,015.7		313.6		—		—			2,329.3
Merchandise inventory	—		—		354.6		56.9		—		—			411.5
Miscellaneous receivables	—		103.9		211.1		28.0		—		—			343.0
Prepaid expenses and other	—		18.0		100.4		49.9		—		—			168.3
Total current assets	—		235.6		2,681.8		480.8		—		(1.9		)	3,396.3
Property and equipment, net	—		95.0		43.5		22.6		—		—			161.1
Goodwill	—		751.8		1,439.0		288.8		—		—			2,479.6
Other intangible assets, net	—		280.1		424.5		192.4		—		—			897.0
Other assets	1.7		30.7		209.3		2.6		—		(211.6		)	32.7
Investment in and advances to subsidiaries	983.9		3,066.1		—		—		—		(4,050.0		)	—
Total Assets	$	985.6	$	4,459.3	$	4,798.1	$	987.2	$	—	$	(4,263.5	)	$	6,966.7
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable-trade	$	—	$	42.5	$	1,112.1	$	165.0	$	—	$	(1.9	)	$	1,317.7
Accounts payable-inventory financing	—		1.0		480.9		16.1		—		—			498.0
Current maturities of long-term debt	—		14.9		3.8		6.8		—		—			25.5
Contract liabilities	—		—		87.5		71.3		—		—			158.8
Accrued expenses and other current liabilities	—		173.3		262.0		86.8		—		—			522.1
Total current liabilities	—		231.7		1,946.3		346.0		—		(1.9		)	2,522.1
Long-term liabilities:
Debt	—		3,134.2		8.3		67.5		—		—			3,210.0
Deferred income taxes	—		66.5		100.1		31.4		—		(1.7		)	196.3
Other liabilities	—		43.0		4.7		214.9		—		(209.9		)	52.7
Total long-term liabilities	—		3,243.7		113.1		313.8		—		(211.6		)	3,459.0
Total stockholders' equity	985.6		983.9		2,738.7		327.4		—		(4,050.0		)	985.6
Total Liabilities and Stockholders' Equity	$	985.6	$	4,459.3	$	4,798.1	$	987.2	$	—	$	(4,263.5	)	$	6,966.7

Consolidating Statements of Operations

Consolidating Statement of Operations

Three Months Ended June 30, 2018
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—		$	—		$	3,698.7		$	487.4		$	—	$	—		$	4,186.1
Cost of sales	—			—			3,083.0			407.5			—		—			3,490.5
Gross profit	—			—			615.7			79.9			—		—			695.6
Selling and administrative expenses	—			35.1			289.6			56.7			—		—			381.4
Advertising expense	—			—			47.2			1.5			—		—			48.7
Income (loss) from operations	—			(35.1		)	278.9			21.7			—		—			265.5
Interest (expense) income, net	—			(36.7		)	0.9			(1.4		)	—		—			(37.2		)
Other income	—			—			0.1			1.4			—		—			1.5
Income (loss) before income taxes	—			(71.8		)	279.9			21.7			—		—			229.8
Income tax (expense) benefit	(0.1		)	20.2			(72.0		)	(4.9		)	—		—			(56.8		)
Income (loss) before equity in earnings of subsidiaries	(0.1		)	(51.6		)	207.9			16.8			—		—			173.0
Equity in earnings of subsidiaries	173.1			224.7			—			—			—		(397.8		)	—
Net income	$	173.0		$	173.1		$	207.9		$	16.8		$	—	$	(397.8	)	$	173.0

Consolidating Statement of Operations

Three Months Ended June 30, 2017
(as adjusted)
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	3,528.0		$	363.7		$	—	$	—		$	3,891.7
Cost of sales	—		—			2,947.6			303.3			—		—			3,250.9
Gross profit	—		—			580.4			60.4			—		—			640.8
Selling and administrative expenses	—		32.6			284.6			46.3			—		—			363.5
Advertising expense	—		—			44.9			1.6			—		—			46.5
Income (loss) from operations	—		(32.6		)	250.9			12.5			—		—			230.8
Interest (expense) income, net	—		(35.4		)	1.1			(1.6		)	—		—			(35.9		)
Other income	—		—			0.1			0.3			—		—			0.4
Income (loss) before income taxes	—		(68.0		)	252.1			11.2			—		—			195.3
Income tax (expense) benefit	—		29.4			(80.7		)	(3.1		)	—		—			(54.4		)
Income (loss) before equity in earnings of subsidiaries	—		(38.6		)	171.4			8.1			—		—			140.9
Equity in earnings of subsidiaries	140.9		179.5			—			—			—		(320.4		)	—
Net income	$	140.9	$	140.9		$	171.4		$	8.1		$	—	$	(320.4	)	$	140.9

Consolidating Statement of Operations

Six Months Ended June 30, 2018
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—		$	—		$	6,822.1		$	970.4		$	—	$	—		$	7,792.5
Cost of sales	—			—			5,680.0			813.0			—		—			6,493.0
Gross profit	—			—			1,142.1			157.4			—		—			1,299.5
Selling and administrative expenses	—			69.6			562.0			112.5			—		—			744.1
Advertising expense	—			—			82.4			3.4			—		—			85.8
Income (loss) from operations	—			(69.6		)	497.7			41.5			—		—			469.6
Interest (expense) income, net	—			(73.8		)	1.9			(3.0		)	—		—			(74.9		)
Other income	—			—			0.5			0.3			—		—			0.8
Income (loss) before income taxes	—			(143.4		)	500.1			38.8			—		—			395.5
Income tax (expense) benefit	(0.2		)	41.0			(127.3		)	(9.0		)	—		—			(95.5		)
Income (loss) before equity in earnings of subsidiaries	(0.2		)	(102.4		)	372.8			29.8			—		—			300.0
Equity in earnings of subsidiaries	300.2			402.6			—			—			—		(702.8		)	—
Net income	$	300.0		$	300.2		$	372.8		$	29.8		$	—	$	(702.8	)	$	300.0

Consolidating Statement of Operations

Six Months Ended June 30, 2017
(as adjusted)
(in millions)	Parent Guarantor		Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net sales	$	—	$	—		$	6,414.2		$	733.4		$	—	$	—		$	7,147.6
Cost of sales	—		—			5,340.5			612.8			—		—			5,953.3
Gross profit	—		—			1,073.7			120.6			—		—			1,194.3
Selling and administrative expenses	—		63.9			554.5			92.5			—		—			710.9
Advertising expense	—		—			78.9			3.0			—		—			81.9
Income (loss) from operations	—		(63.9		)	440.3			25.1			—		—			401.5
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	—		—			0.3			1.0			—		—			1.3
Income (loss) before income taxes	—		(195.8		)	442.7			22.9			—		—			269.8
Income tax (expense) benefit	—		86.6			(151.3		)	(6.1		)	—		—			(70.8		)
Income (loss) before equity in earnings of subsidiaries	—		(109.2		)	291.4			16.8			—		—			199.0
Equity in earnings of subsidiaries	199.0		308.2			—			—			—		(507.2		)	—
Net income	$	199.0	$	199.0		$	291.4		$	16.8		$	—	$	(507.2	)	$	199.0

Condensed Statement of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2018
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	146.4	$	146.5	$	207.9	$	(12.1	)	$	—	$	(342.3	)	$	146.4

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended June 30, 2017
(as adjusted)
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	158.7	$	158.7	$	171.4	$	26.9	$	—	$	(357.0	)	$	158.7

Condensed Consolidating Statement of Comprehensive Income

Six Months Ended June 30, 2018
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	290.8	$	291.0	$	372.8	$	15.1	$	—	$	(678.9	)	$	290.8

Condensed Consolidating Statement of Comprehensive Income

Six Months Ended June 30, 2017
(as adjusted)
(in millions)	Parent Guarantor		Subsidiary Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Co-Issuer		Consolidating Adjustments			Consolidated
Comprehensive income	$	222.9	$	222.9	$	291.4	$	42.3	$	—	$	(556.6	)	$	222.9

Condensed Consolidating Statements Cash Flows

Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 2018
(in millions)	Parent Guarantor			Subsidiary Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Co-Issuer		Consolidating Adjustments			Consolidated
Net cash provided by (used in) operating activities	$	—		$	(71.8	)	$	343.9		$	74.2		$	—	$	(14.0	)	$	332.3
Cash flows used in investing activities:
Capital expenditures	—			(24.2		)	(1.9		)	(7.5		)	—		—			(33.6		)
Net cash used in investing activities	—			(24.2		)	(1.9		)	(7.5		)	—		—			(33.6		)
Cash flows (used in) provided by financing activities:
Proceeds from borrowings under revolving credit facilities	—			467.5			—			20.6			—		—			488.1
Repayments of borrowings under revolving credit facilities	—			(467.5		)	—			(6.9		)	—		—			(474.4		)
Repayments of long-term debt	—			(7.5		)	—			—			—		—			(7.5		)
Payments of debt financing costs	—			(1.0		)	—			—			—		—			(1.0		)
Net change in accounts payable-inventory financing	—			(0.9		)	(100.8		)	(8.7		)	—		—			(110.4		)
Premium payments on interest rate cap agreements	—			(12.6		)	—			—			—		—			(12.6		)
Proceeds from stock option exercises	—			19.9			—			—			—		—			19.9
Proceeds from Coworker Stock Purchase Plan	—			5.4			—			—			—		—			5.4
Repurchases of common stock	(176.4		)	—			—			—			—		—			(176.4		)
Payment of incentive compensation plan withholding taxes	(8.7		)	—			—			—			—		—			(8.7		)
Dividends	(63.8		)	—			—			—			—		—			(63.8		)
Repayment of intercompany loan	—			—			47.5			(47.5		)	—		—			—
Other	—			3.6			(0.2		)	(0.2		)	—		—			3.2
Distributions and advances from (to) affiliates	248.9			46.3			(288.5		)	—			—		(6.7		)	—
Net cash (used in) provided by financing activities	—			53.2			(342.0		)	(42.7		)	—		(6.7		)	(338.2		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4.0		)	—		—			(4.0		)
Net (decrease) increase in cash and cash equivalents	—			(42.8		)	—			20.0			—		(20.7		)	(43.5		)
Cash and cash equivalents—beginning of period	—			113.7			—			32.4			—		(1.9		)	144.2
Cash and cash equivalents—end of period	$	—		$	70.9		$	—		$	52.4		$	—	$	(22.6	)	$	100.7

Condensed Consolidating Statement of Cash Flows

Six Months Ended June 30, 2017
(as adjusted)
(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 used in 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 (used in) provided by financing activities:
Proceeds from borrowings under revolving credit facilities	—			54.0			—			13.7			—		—			67.7
Repayments of borrowings under revolving credit facilities	—			—			—			(13.7		)	—		—			(13.7		)
Repayments of long-term debt	—			(7.5		)	—			—			—		—			(7.5		)
Proceeds from issuance of long-term debt	—			2,083.0			—			—			—		—			2,083.0
Payments to extinguish long-term debt	—			(2,121.3		)	—			—			—		—			(2,121.3		)
Payment 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		)
Repayment of intercompany loan	—			—			34.3			(34.3		)	—		—			—
Other	—			—			(0.1		)	(0.5		)	—		—			(0.6		)
Distributions and advances from (to) affiliates	409.7			(100.5		)	(316.6		)	—			—		7.4			—
Net cash used in 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 (decrease) 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