Supplemental Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]



	June 30, 2015
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	2,013	$	25,395	$	—		$	27,408
Trade receivables, net of allowance	1,633		139,989		73,021		—			214,643
Inventories	—		219,164		38,997		—			258,161
Deferred income taxes	11,418		8,871		2,146		—			22,435
Income tax receivable	34,472		—		30		—			34,502
Prepaid expenses and other current assets	1,295		13,436		13,007		—			27,738
Intercompany receivables	1,086,156		472,824		—		(1,558,980		)	—
Total current assets	1,134,974		856,297		152,596		(1,558,980		)	584,887
Investment in equity method investments	3,361		—		33,677		—			37,038
Investment in consolidated subsidiaries	2,026,674		422,118		—		(2,448,792		)	—
Property, plant, and equipment, net	7,202		846,162		204,264		—			1,057,628
Deferred income taxes	20,230		—		—		(20,230		)	—
Identifiable intangible and other assets, net	32,101		616,751		88,418		—			737,270
Goodwill	—		928,280		140,260		—			1,068,540
Total Assets	$	3,224,542	$	3,669,608	$	619,215	$	(4,028,002	)	$	3,485,363

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	42,120	$	309,406	$	116,882	$	—		$	468,408
Current portion of debt and capital lease obligations	20,000		1,194		—		—			21,194
Income tax payable	—		—		1,792		—			1,792
Intercompany payables	473,356		1,065,383		20,241		(1,558,980		)	—
Total current liabilities	535,476		1,375,983		138,915		(1,558,980		)	491,394
Long-term debt and capital lease obligations	1,513,245		20,202		—		—			1,533,447
Deferred income taxes	—		244,876		47,695		(20,230		)	272,341
Other long-term liabilities	27,783		1,873		10,487		—			40,143
Total liabilities	2,076,504		1,642,934		197,097		(1,579,210		)	2,337,325
Total shareholders' equity	1,148,038		2,026,674		422,118		(2,448,792		)	1,148,038
Total Liabilities and Shareholders' Equity	$	3,224,542	$	3,669,608	$	619,215	$	(4,028,002	)	$	3,485,363

Condensed Consolidating Balance Sheets



	December 31, 2014
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	524	$	49,716	$	—		$	50,240
Trade receivables, net of allowance	317		134,352		58,023		—			192,692
Inventories	—		182,770		32,899		—			215,669
Deferred income taxes	12,305		15,742		2,216		—			30,263
Income tax receivable	13,382		—		1,073		—			14,455
Prepaid expenses and other current assets	4,632		18,318		12,918		—			35,868
Intercompany receivables	1,087,095		504,442		—		(1,591,537		)	—
Total current assets	1,117,731		856,148		156,845		(1,591,537		)	539,187
Investment in equity method investments	—		3,000		40,160		—			43,160
Investment in consolidated subsidiaries	1,968,899		438,832		—		(2,407,731		)	—
Property, plant, and equipment, net	7,953		795,696		189,558		—			993,207
Deferred income taxes	20,835		—		—		(20,835		)	—
Identifiable intangible and other assets, net	31,803		600,592		96,616		—			729,011
Goodwill	—		916,482		151,794		—			1,068,276
Total Assets	$	3,147,221	$	3,610,750	$	634,973	$	(4,020,103	)	$	3,372,841

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	41,478	$	319,247	$	109,039	$	—		$	469,764
Current portion of debt and capital lease obligations	20,000		1,158		—		—			21,158
Income taxes payable	—		—		496		—			496
Intercompany payables	504,442		1,062,081		25,014		(1,591,537		)	—
Total current liabilities	565,920		1,382,486		134,549		(1,591,537		)	491,418
Long-term debt and capital lease obligations	1,475,000		20,822		—		—			1,495,822
Deferred income taxes	—		236,983		50,862		(20,835		)	267,010
Other long-term liabilities	29,814		1,560		10,730		—			42,104
Total liabilities	2,070,734		1,641,851		196,141		(1,612,372		)	2,296,354
Total shareholders' equity	1,076,487		1,968,899		438,832		(2,407,731		)	1,076,487
Total Liabilities and Shareholders' Equity	$	3,147,221	$	3,610,750	$	634,973	$	(4,020,103	)	$	3,372,841

Condensed Consolidating Statements of Comprehensive Income (Loss)

Condensed Consolidating Statements of Comprehensive Income



	Three months ended June 30, 2015
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
	(In thousands)
Net sales	$	—		$	791,015	$	132,617	$	—		$	923,632
Cost of goods sold	—			523,639		73,835		—			597,474
Gross profit	—			267,376		58,782		—			326,158
Operating expenses:
Selling, distribution, and marketing	—			144,343		29,968		—			174,311
General and administrative	26,131			33,889		14,825		—			74,845
Total operating expenses	26,131			178,232		44,793		—			249,156
Operating (loss) income	(26,131		)	89,144		13,989		—			77,002
Other expense (income):
Interest expense	13,522			326		85		—			13,933
Other expense (income), net	(46,504		)	43,351		4,141		—			988
Total other expense (income)	(32,982		)	43,677		4,226		—			14,921
Income before income taxes and equity in earnings of subsidiaries	6,851			45,467		9,763		—			62,081
Income tax expense	3,534			16,593		2,087		—			22,214
Income before loss in equity method investments and equity in earnings of subsidiaries	3,317			28,874		7,676		—			39,867
Loss in equity method investments	205			—		2,218		—			2,423
Equity in earnings of consolidated subsidiaries	34,332			5,458		—		(39,790		)	—
Net income	37,444			34,332		5,458		(39,790		)	37,444
Other comprehensive income, net of tax	15,920			15,920		16,317		(32,237		)	15,920
Comprehensive income	$	53,364		$	50,252	$	21,775	$	(72,027	)	$	53,364

Condensed Consolidating Statements of Comprehensive Income (Loss)



	Six months ended June 30, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
	(In thousands)
Net sales	$	—		$	1,571,389		$	263,384		$	—		$	1,834,773
Cost of goods sold	—			1,051,644			148,397			—			1,200,041
Gross profit	—			519,745			114,987			—			634,732
Operating expenses:
Selling, distribution, and marketing	—			282,053			60,019			—			342,072
General and administrative	50,317			66,841			28,431			—			145,589
Total operating expenses	50,317			348,894			88,450			—			487,661
Operating income	(50,317		)	170,851			26,537			—			147,071
Other expense (income):
Interest expense	21,859			589			152			—			22,600
Other expense (income), net	(77,018		)	77,664			4,141			—			4,787
Total other expense (income)	(55,159		)	78,253			4,293			—			27,387
Income before income taxes and equity in earnings of subsidiaries	4,842			92,598			22,244			—			119,684
Income tax expense	3,461			33,957			4,978			—			42,396
Income before loss in equity method investments and equity in earnings of subsidiaries	1,381			58,641			17,266			—			77,288
Loss in equity method investments	339			—			6,158			—			6,497
Equity in earnings of consolidated subsidiaries	69,749			11,108			—			(80,857		)	—
Net income	70,791			69,749			11,108			(80,857		)	70,791
Other comprehensive income (loss), net of tax	(27,023		)	(27,023		)	(27,005		)	54,028			(27,023		)
Comprehensive income (loss)	$	43,768		$	42,726		$	(15,897	)	$	(26,829	)	$	43,768

Condensed Consolidating Statements of Cash Flows



			Six months ended June 30, 2015
			Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
			(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
		Net cash provided by operating activities	$	3,939		$	88,970		$	13,954		$	—		$	106,863
CASH FLOWS FROM INVESTING ACTIVITIES:
	Investment in unconsolidated entity		(701		)	—			—			—			(701		)
	Payments for acquisition, net of cash acquired of $1,530		—			(38,672		)	—			—			(38,672		)
	Proceeds from acquisition adjustments		—			346			—			—			346
	Payments for property, plant, and equipment		(586		)	(103,158		)	(36,893		)	—			(140,637		)
	Intercompany contributions		(48,196		)	—			(4,772		)	52,968			—
	Proceeds from sale of fixed assets		—			1,619			7,261			—			8,880
		Net cash used in investing activities	(49,483		)	(139,865		)	(34,404		)	52,968			(170,784		)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Intercompany contributions		—			52,968			—			(52,968		)	—
	Repayment of debt		(10,000		)	—			—			—			(10,000		)
	Payments on capital lease obligations		—			(584		)	—			—			(584		)
	Proceeds from revolver line of credit		270,345			—			—			—			270,345
	Payments for revolver line of credit		(222,100		)	—			—			—			(222,100		)
	Proceeds from exercise of stock options		3,558			—			—			—			3,558
	Minimum tax withholding paid on behalf of employees for restricted stock units		(7,565		)	—			—			—			(7,565		)
	Excess tax benefit from share-based compensation		11,345			—			—			—			11,345
	Payment of deferred financing costs		(39		)	—			—			—			(39		)
		Net cash provided by (used in) financing activities	45,544			52,384			—			(52,968		)	44,960
		Effect of exchange rate changes on cash and cash equivalents	—			—			(3,871		)	—			(3,871		)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			—			1,489			(24,321		)	—			(22,832		)
Cash and cash equivalents, beginning of period			—			524			49,716			—			50,240
Cash and cash equivalents, end of period			$	—		$	2,013		$	25,395		$	—		$	27,408

Condensed Consolidating Statements of Cash Flows



			Six months ended June 30, 2014
			Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
			(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
		Net cash provided by (used in) operating activities	$	(18,531	)	$	106,768		$	29,512		$	—		$	117,749
CASH FLOWS FROM INVESTING ACTIVITIES:
	Investment in equity method investment		—			—			(47,285		)	—			(47,285		)
	Payments for acquisition, net of cash acquired of $5,638		—			(603,373		)	—			—			(603,373		)
	Payments for property, plant, and equipment		(40,350		)	(80,205		)	(19,295		)	—			(139,850		)
	Intercompany contributions		(578,517		)	—			—			578,517			—
	Proceeds from sale of fixed assets		—			122			—			—			122
		Net cash provided by (used in) investing activities	(618,867		)	(683,456		)	(66,580		)	578,517			(790,386		)
CASH FLOWS FROM FINANCING ACTIVITIES:
	Intercompany contributions		—			577,129			1,388			(578,517		)	—
	Proceeds from the issuance of debt		500,000			—			—			—			500,000
	Repayment of debt		(10,000		)	—			—			—			(10,000		)
	Payments on capital lease obligations		—			(508		)	—			—			(508		)
	Proceeds from revolver line of credit		489,850			—			—			—			489,850
	Payments for revolver line of credit		(340,060		)	—			—			—			(340,060		)
	Proceeds from exercise of stock options		1,281			—			—			—			1,281
	Minimum tax withholding paid on behalf of employees for restricted stock units		(3,491		)	—			—			—			(3,491		)
	Excess tax benefit from share-based compensation		3,196			—			—			—			3,196
	Payment of deferred financing costs		(3,378		)	—			—			—			(3,378		)
		Net cash provided by (used in) financing activities	637,398			576,621			1,388			(578,517		)	636,890
		Effect of exchange rate changes on cash and cash equivalents	—			—			595			—			595
DECREASE IN CASH AND CASH EQUIVALENTS			—			(67		)	(35,085		)	—			(35,152		)
Cash and cash equivalents, beginning of period			—			673			100,432			—			101,105
Cash and cash equivalents, end of period			$	—		$	606		$	65,347		$	—		$	65,953