Subsidiary Guarantors of Senior Notes due 2024 (Tables)

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statement of Operations

(in millions)	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	1,070.0	$	782.2		$	(395.6	)	$	1,456.6
Cost of sales	3.4			775.9		540.1			(395.6		)	923.8
Gross profit	(3.4		)	294.1		242.1			—			532.8
Selling, general and administrative expenses	35.5			152.9		101.7			—			290.1
Amortization expense	—			28.4		2.8			—			31.2
Separation expense	6.3			—		0.2			—			6.5
Restructuring expense	—			1.6		0.9			—			2.5
Loss from impairment or disposal of assets — net	—			2.9		0.4			—			3.3
(Loss) earnings from operations	(45.2		)	108.3		136.1			—			199.2
Interest expense	82.2			1.2		1.8			—			85.2
Interest expense on notes with MTW — net	—			—		0.1			—			0.1
Other (income) expense — net	(5.6		)	19.6		(4.9		)	—			9.1
Equity in earnings (loss) of subsidiaries	200.5			114.0		—			(314.5		)	—
Earnings (loss) before income taxes	78.7			201.5		139.1			(314.5		)	104.8
Income taxes	(0.8		)	1.0		25.1			—			25.3
Net earnings (loss)	$	79.5		$	200.5	$	114.0		$	(314.5	)	$	79.5
Total other comprehensive income (loss), net of tax	1.1			3.0		7.3			(10.3		)	1.1
Comprehensive income (loss)	$	80.6		$	203.5	$	121.3		$	(324.8	)	$	80.6

WELBILT, INC.

Consolidating Statement of Operations

For the year ended December 31, 2015

(in millions)	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Net sales	$	—		$	1,109.8		$	809.9		$	(349.6	)	$	1,570.1
Cost of sales	0.1			803.6			614.3			(349.6		)	1,068.4
Gross (loss) profit	(0.1		)	306.2			195.6			—			501.7
Selling, general and administrative expenses	32.2			144.6			114.8			—			291.6
Amortization expense	—			28.5			2.9			—			31.4
Separation expense (income)	4.4			0.1			(0.2		)	—			4.3
Restructuring expense	—			1.9			2.7			—			4.6
Loss from impairment or disposal of assets — net	—			8.4			1.5			—			9.9
(Loss) earnings from operations	(36.7		)	122.7			73.9			—			159.9
Interest expense	—			1.2			0.2			—			1.4
Interest income on notes with MTW — net	—			(14.9		)	(0.9		)	—			(15.8		)
Other (income) expense — net	(78.6		)	77.8			(21.3		)	—			(22.1		)
Equity in earnings (loss) of subsidiaries	123.2			77.9			—			(201.1		)	—
Earnings (loss) before income taxes	165.1			136.5			95.9			(201.1		)	196.4
Income taxes	8.0			13.3			18.0			—			39.3
Net earnings (loss)	$	157.1		$	123.2		$	77.9		$	(201.1	)	$	157.1
Total other comprehensive (loss) income, net of tax	(23.8		)	(27.7		)	(26.9		)	54.6			(23.8		)
Comprehensive income (loss)	$	133.3		$	95.5		$	51.0		$	(146.5	)	$	133.3

Condensed Consolidating Balance Sheet

(in millions)	Parent			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	0.4		$	2.3	$	51.1		$	—		$	53.8
Restricted cash	—			—		6.4			—			6.4
Accounts receivable — net	0.5			—		86.1			(4.9		)	81.7
Inventories — net	—			74.3		71.3			—			145.6
Prepaids and other current assets	0.9			4.5		8.5			—			13.9
Current assets held for sale	—			2.3		4.5			—			6.8
Total current assets	1.8			83.4		227.9			(4.9		)	308.2
Property, plant and equipment — net	1.2			67.9		40.0			—			109.1
Goodwill	—			832.4		12.9			—			845.3
Other intangible assets — net	—			423.5		60.9			—			484.4
Intercompany long-term note receivable	—			20.0		—			(20.0		)	—
Due from affiliates	—			3,085.8		—			(3,085.8		)	—
Investment in subsidiaries	3,780.3			—		—			(3,780.3		)	—
Other non-current assets	2.7			5.1		19.7			(5.4		)	22.1
Total assets	$	3,786.0		$	4,518.1	$	361.4		$	(6,896.4	)	$	1,769.1
Liabilities and equity
Current liabilities:
Accounts payable	$	0.1		$	64.6	$	48.6		$	(4.9	)	$	108.4
Accrued expenses and other liabilities	14.1			97.5		62.9			—			174.5
Current portion of capital leases	—			0.5		1.1			—			1.6
Product warranties	—			18.4		9.5			—			27.9
Current liabilities held for sale	—			—		0.7			—			0.7
Total current liabilities	14.2			181.0		122.8			(4.9		)	313.1
Long-term debt and capital leases	1,277.0			1.7		—			—			1,278.7
Deferred income taxes	120.5			—		17.3			—			137.8
Pension and postretirement health obligations	47.9			4.9		—			(5.4		)	47.4
Intercompany long-term note payable	15.7			—		4.3			(20.0		)	—
Due to affiliates	2,344.8			—		741.0			(3,085.8		)	—
Investment in subsidiaries	—			524.6		—			(524.6		)	—
Other long-term liabilities	9.4			25.6		0.6			—			35.6
Total non-current liabilities	3,815.3			556.8		763.2			(3,635.8		)	1,499.5
Total (deficit) equity:
Total (deficit) equity	(43.5		)	3,780.3		(524.6		)	(3,255.7		)	(43.5		)
Total liabilities and equity	$	3,786.0		$	4,518.1	$	361.4		$	(6,896.4	)	$	1,769.1

Condensed Consolidating Statement of Cash Flows

(in millions)	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities
Net cash (used for) provided by operating activities	$	(98.9	)	$	111.5		$	113.2		$	—		$	125.8
Cash flows from investing activities
Capital expenditures	(1.0		)	(8.0		)	(7.0		)	—			(16.0		)
Changes in restricted cash	—			—			(6.0		)	—			(6.0		)
Proceeds from sale of property, plant and equipment	—			—			0.5						0.5
Proceeds from dispositions	—			—			1.1			—			1.1
Intercompany investment	—			(104.4		)	(79.4		)	183.8			—
Net cash provided by (used for) investing activities	(1.0		)	(112.4		)	(90.8		)	183.8			(20.4		)
Cash flows from financing activities
Proceeds from long-term debt and capital leases	1,499.5			0.2			1.4			—			1,501.1
Repayments on long-term debt and capital leases	(186.0		)	(0.5		)	(0.3		)	—			(186.8		)
Debt issuance costs	(41.3		)	—			—			—			(41.3		)
Dividend paid to MTW	(1,362.0		)	—			—			—			(1,362.0		)
Net transactions with MTW	(6.1		)	—			—			—			(6.1		)
Exercises of stock options	16.2			—			—			—			16.2
Payments on tax withholdings for equity awards	(3.8		)	—			—			—			(3.8		)
Intercompany financing	183.8			—			—			(183.8		)	—
Net cash (used for) provided by financing activities	100.3			(0.3		)	1.1			(183.8		)	(82.7		)
Effect of exchange rate changes on cash	—			—			(0.9		)	—			(0.9		)
Net increase in cash and cash equivalents	0.4			(1.2		)	22.6			—			21.8
Balance at beginning of period	—			3.5			28.5			—			32.0
Balance at end of period	$	0.4		$	2.3		$	51.1		$	—		$	53.8

WELBILT, INC.

Consolidating (Condensed) Statement of Cash Flows

For the year ended December 31, 2015

(in millions)	Parent			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Consolidating Adjustments			Consolidated
Cash flows from operating activities
Net cash provided by operating activities	$	376.9		$	(137.6	)	$	(96.3	)	$	—		$	143.0
Cash flows from investing activities
Capital expenditures	(0.8		)	(6.5		)	(5.9		)	—			(13.2		)
Changes in restricted cash	—			—			(0.6		)	—			(0.6		)
Business acquisitions, net of cash acquired	—			—			(5.3		)	—			(5.3		)
Proceeds from dispositions	—			78.2			—			—			78.2
Intercompany investment	(193.2		)	—			—			193.2			—
Net cash used for investing activities	(194.0		)	71.7			(11.8		)	193.2			59.1
Cash flows from financing activities
Proceeds from long-term debt and capital leases	—			0.5			—			—			0.5
Repayments on long-term debt and capital leases	—			(0.7		)	—			—			(0.7		)
Net transactions with MTW	(182.9		)	—			—			—			(182.9		)
Intercompany financing	—			66.9			126.3			(193.2		)	—
Net cash used for financing activities	(182.9		)	66.7			126.3			(193.2		)	(183.1		)
Effect of exchange rate changes on cash	—			—			(3.5		)	—			(3.5		)
Net increase in cash and cash equivalents	—			0.8			14.7			—			15.5
Balance at beginning of period	—			2.7			13.8			—			16.5
Balance at end of period	$	—		$	3.5		$	28.5		$	—		$	32.0