XML 77 R66.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment Results (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Jun. 30, 2017
USD ($)
Segment
Jun. 30, 2016
USD ($)
Segment Results [Abstract]        
Number of reportable segments | Segment     3  
Segment Reporting Information [Line Items]        
Revenue $ 579.1 $ 462.0 $ 1,060.8 $ 899.0
Less items to reconcile Segment Adjusted EBITDA to Loss Before Income Taxes [Abstract]        
Interest expense 39.5 42.7 85.3 85.8
Restructuring and related business transformation costs 5.6 18.7 14.2 28.0
Stock-based compensation [1] 156.2 0.0 156.2 0.0
Loss on extinguishment of debt 50.4 0.0 50.4 0.0
Loss Before Income Taxes (190.2) (15.0) (198.8) (38.1)
Restructuring and Related Business Transformation Costs [Abstract]        
Restructuring charges [2] 0.4 10.9 2.1 12.3
Severance, sign-on, relocation and executive search costs 0.6 1.8 1.6 7.0
Facility reorganization, relocation and other costs 1.8 2.9 2.9 3.6
Information technology infrastructure transformation 2.0 0.3 2.7 0.4
(Gains) losses on asset and business disposals (0.5) 0.0 2.5 0.0
Consultant and other advisor fees 0.8 2.2 1.2 3.7
Other, net 0.5 0.6 1.2 1.0
Restructuring and related business transformation costs 5.6 18.7 14.2 28.0
KKR [Member]        
Less items to reconcile Segment Adjusted EBITDA to Loss Before Income Taxes [Abstract]        
Monitoring agreement termination fee 16.2      
2013 Stock Incentive Plan [Member] | Stock Options [Member]        
Restructuring and Related Business Transformation Costs [Abstract]        
Stock-based compensation expense recognized     61.4  
2013 Stock Incentive Plan [Member] | Deferred Stock Units [Member]        
Restructuring and Related Business Transformation Costs [Abstract]        
Stock-based compensation expense recognized 94.8   94.8  
Operating Segments [Member]        
Segment Reporting Information [Line Items]        
Adjusted EBITDA 141.0 93.0 241.3 177.0
Operating Segments [Member] | Industrials [Member]        
Segment Reporting Information [Line Items]        
Revenue 282.8 280.8 530.8 537.9
Adjusted EBITDA 63.4 54.6 110.6 100.6
Operating Segments [Member] | Energy [Member]        
Segment Reporting Information [Line Items]        
Revenue 239.5 123.5 417.7 248.0
Adjusted EBITDA 62.2 24.5 100.6 48.2
Operating Segments [Member] | Medical [Member]        
Segment Reporting Information [Line Items]        
Revenue 56.8 57.7 112.3 113.1
Adjusted EBITDA 15.4 13.9 30.1 28.2
Corporate [Member]        
Less items to reconcile Segment Adjusted EBITDA to Loss Before Income Taxes [Abstract]        
Corporate expenses not allocated to segments 8.9 6.4 [3] 17.1 13.6 [3]
Segment Reconciling Items [Member]        
Less items to reconcile Segment Adjusted EBITDA to Loss Before Income Taxes [Abstract]        
Interest expense 39.5 42.7 [3] 85.3 85.8 [3]
Depreciation and amortization expenses 43.8 42.7 [3] 83.5 84.0 [3]
Impairment of goodwill and other intangible assets [4] 0.0 1.5 [3] 0.0 1.5 [3]
Sponsor fees and expenses [5] 16.2 1.0 [3] 17.3 2.0 [3]
Restructuring and related business transformation costs 5.6 18.7 [3] 14.2 28.0 [3]
Acquisition related expenses and non-cash charges 1.2 [6] 0.8 [3],[6] 1.9 [6] 1.6 [3]
Environmental remediation loss reserve [7] (0.1) 0.0 [3] 0.9 0.0 [3]
Expenses related to initial public offering [8] 3.9 0.0 [3] 6.5 0.0 [3]
Stock-based compensation [1] 156.2 0.0 [3] 156.2 0.0 [3]
Loss on extinguishment of debt [9] 50.4 0.0 [3] 50.4 0.0 [3]
Other adjustments [10] 5.6 (5.8) [3] 6.8 (1.4) [3]
Restructuring and Related Business Transformation Costs [Abstract]        
Restructuring and related business transformation costs $ 5.6 $ 18.7 [3] $ 14.2 $ 28.0 [3]
[1] Represents stock-based compensation expense recognized for stock options outstanding ($61.4 million) and DSUs granted to employees at the date of the initial public offering ($94.8 million) under the 2013 Stock Incentive Plan.
[2] See Note 3 "Restructuring."
[3] In the fourth quarter of fiscal 2016, the Company modified its methodology for presenting reconciling items from Loss Before Income Taxes. The reconciling items for the three and six month periods ended June 30, 2016 have been restated to conform to the methodology used in the three and six month periods ended June 30, 2017, and included the following:
[4] Represents non-cash charges for impairment of goodwill and other intangible assets.
[5] Represents management fees and expenses paid to KKR, including a monitoring agreement termination fee of $16.2 million paid in the three month period ending June 30, 2017.
[6] Represents costs associated with successful and/or abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.
[7] Represents estimated environmental remediation costs and losses relating to a former production facility.
[8] Represents expenses related to the Company's initial public offering.
[9] Represents losses on extinguishment of the senior notes and a portion of the U.S. term loan.
[10] Includes (i) foreign exchange gains and losses, (ii) effects of amortization of prior service costs and amortization of gains in pension and other postretirement benefits (OPEB) expense, (iii) certain legal and compliance costs and (iv) other miscellaneous adjustments.