Selected Condensed Consolidating Financial Statements of Parent, Issuer, Guarantors and Non-Guarantors (Tables)

3 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Statements of Operations

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
	Three Months Ended December 31, 2019
(In millions)	Parent		Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—	$	—		$	589.3		$	4,460.5		$	(626.1	)	$	4,423.7
Cost of goods sold		—		—			481.6			3,751.2			(618.1	)		3,614.7
Selling, general and administrative,    excluding intangible amortization		—		0.2			28.8			396.7			—			425.7
Selling, general and administrative    intangible amortization		—		—			26.0			75.8			—			101.8
Gain on disposal of assets		—		—			(0.1	)		(1.2	)		—			(1.3	)
Restructuring and other costs		—		1.6			—			28.5			—			30.1
Operating profit (loss)		—		(1.8	)		53.0			209.5			(8.0	)		252.7
Interest (expense) income, net		—		(64.7	)		(35.2	)		6.4			—			(93.5	)
Intercompany interest (expense) income, net		—		(3.5	)		(25.2	)		20.7			8.0			—
Pension and other postretirement non-    service (expense) income		—		—			(1.9	)		28.6			—			26.7
Other income (expense), net		—		—			1.1			(4.8	)		—			(3.7	)
Equity in income of unconsolidated entities		—		—			—			3.8			—			3.8
Equity in income of consolidated entities		138.5		226.6			138.3			—			(503.4	)		—
Income before income taxes		138.5		156.6			130.1			264.2			(503.4	)		186.0
Income tax benefit (expense)		—		17.5			2.3			(66.3	)		—			(46.5	)
Consolidated net income (loss)		138.5		174.1			132.4			197.9			(503.4	)		139.5
Less: Net income attributable to    noncontrolling interests		—		—			—			(1.0	)		—			(1.0	)
Net income attributable to common    stockholders	$	138.5	$	174.1		$	132.4		$	196.9		$	(503.4	)	$	138.5
Comprehensive income attributable to    common stockholders	$	246.2	$	283.6		$	236.3		$	306.2		$	(826.1	)	$	246.2

CONDENSED CONSOLIDATING STATEMENTS OF INCOME
	Three Months Ended December 31, 2018
(In millions)	Parent		Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—	$	—		$	623.8		$	4,333.8		$	(630.2	)	$	4,327.4
Cost of goods sold		—		—			500.9			3,674.9			(630.2	)		3,545.6
Selling, general and administrative,    excluding intangible amortization		—		0.1			13.1			387.7			—			400.9
Selling, general and administrative    intangible amortization		—		—			26.1			66.8			—			92.9
Gain on disposal of assets		—		—			—			(43.8	)		—			(43.8	)
Restructuring and other costs		—		—			—			54.4			—			54.4
Operating profit (loss)		—		(0.1	)		83.7			193.8			—			277.4
Interest (expense) income, net		—		(47.0	)		(49.9	)		2.5			—			(94.4	)
Intercompany interest income (expense), net		—		3.0			(27.1	)		24.1			—			—
Loss on extinguishment of debt		—		(1.8	)		—			(0.1	)		—			(1.9	)
Pension and other postretirement non-    service (expense) income		—		—			(1.7	)		19.0			—			17.3
Other (expense) income, net		—		(0.6	)		0.6			(2.7	)		—			(2.7	)
Equity in income of unconsolidated entities		—		—			—			6.8			—			6.8
Equity in income of consolidated entities		139.1		198.7			246.2			—			(584.0	)		—
Income before income taxes		139.1		152.2			251.8			243.4			(584.0	)		202.5
Income tax benefit (expense)		—		11.1			(1.9	)		(71.9	)		—			(62.7	)
Consolidated net income		139.1		163.3			249.9			171.5			(584.0	)		139.8
Less: Net income attributable to    noncontrolling interests		—		—			—			(0.7	)		—			(0.7	)
Net income attributable to common    stockholders	$	139.1	$	163.3		$	249.9		$	170.8		$	(584.0	)	$	139.1
Comprehensive income attributable to    common stockholders	$	79.6	$	106.5		$	195.2		$	111.6		$	(413.3	)	$	79.6

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS
	December 31, 2019
(In millions)	Parent		Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	8.7	$	147.7	$	—		$	156.4
Accounts receivable		—		—		16.1		2,076.3		(30.7	)		2,061.7
Inventories		—		—		266.0		1,923.7		—			2,189.7
Other current assets		—		—		8.6		528.9		—			537.5
Intercompany receivables		—		223.4		0.6		1,205.5		(1,429.5	)		—
Assets held for sale		—		—		—		7.3		—			7.3
Total current assets		—		223.4		300.0		5,889.4		(1,460.2	)		4,952.6
Property, plant and equipment, net		—		—		15.3		11,265.8		—			11,281.1
Goodwill		—		—		1,158.6		6,168.4		—			7,327.0
Intangibles, net		—		—		1,458.9		2,509.1		—			3,968.0
Restricted assets held by special purpose    entities		—		—		—		1,272.7		—			1,272.7
Prepaid pension asset		—		—		—		257.2		—			257.2
Intercompany notes receivable		—		154.9		145.8		3,026.8		(3,327.5	)		—
Investments in consolidated subsidiaries		12,219.7		18,840.2		20,347.7		—		(51,407.6	)		—
Other assets		—		69.6		232.5		1,640.1		(64.0	)		1,878.2
Total Assets	$	12,219.7	$	19,288.1	$	23,658.8	$	32,029.5	$	(56,259.3	)	$	30,936.8
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	127.0	$	107.5	$	330.6	$	—		$	565.1
Accounts payable		—		1.5		28.3		1,781.9		(30.7	)		1,781.0
Accrued compensation and benefits		0.2		—		14.8		360.7		—			375.7
Other current liabilities		—		46.3		112.3		566.4		—			725.0
Intercompany payables		394.3		10.5		1,014.2		10.5		(1,429.5	)		—
Total current liabilities		394.5		185.3		1,277.1		3,050.1		(1,460.2	)		3,446.8
Long-term debt due after one year		—		6,609.3		1,979.3		1,060.7		—			9,649.3
Intercompany notes payable		—		636.3		2,390.5		300.7		(3,327.5	)		—
Pension liabilities, net of current portion		—		—		143.8		142.7		—			286.5
Postretirement benefit liabilities, net of    current portion		—		—		25.5		138.6		—			164.1
Non-recourse liabilities held by special    purpose entities		—		—		—		1,143.1		—			1,143.1
Deferred income taxes		—		—		252.3		2,703.4		(64.0	)		2,891.7
Other long-term liabilities		—		12.9		178.5		1,321.6		—			1,513.0
Redeemable noncontrolling interests		—		—		—		1.8		—			1.8
Total stockholders’ equity		11,825.2		11,844.3		17,411.8		22,151.5		(51,407.6	)		11,825.2
Noncontrolling interests		—		—		—		15.3		—			15.3
Total equity		11,825.2		11,844.3		17,411.8		22,166.8		(51,407.6	)		11,840.5
Total Liabilities and Equity	$	12,219.7	$	19,288.1	$	23,658.8	$	32,029.5	$	(56,259.3	)	$	30,936.8

CONDENSED CONSOLIDATING BALANCE SHEETS
	September 30, 2019
(In millions)	Parent		Issuer		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	—	$	17.8	$	133.8	$	—		$	151.6
Accounts receivable		—		—		31.1		2,201.7		(39.6	)		2,193.2
Inventories		—		—		254.3		1,853.2		—			2,107.5
Other current assets		—		1.2		11.8		483.2		—			496.2
Intercompany receivables		—		227.7		—		1,128.6		(1,356.3	)		—
Assets held for sale		—		—		—		25.8		—			25.8
Total current assets		—		228.9		315.0		5,826.3		(1,395.9	)		4,974.3
Property, plant and equipment, net		—		—		18.9		11,170.6		—			11,189.5
Goodwill		—		—		1,158.6		6,127.0		—			7,285.6
Intangibles, net		—		—		1,485.0		2,574.5		—			4,059.5
Restricted assets held by special purpose    entities		—		—		—		1,274.3		—			1,274.3
Prepaid pension asset		—		—		—		224.7		—			224.7
Intercompany notes receivable		—		155.0		156.9		3,026.8		(3,338.7	)		—
Investments in consolidated subsidiaries		11,973.6		18,524.2		20,103.6		—		(50,601.4	)		—
Other assets		—		67.8		185.3		971.8		(76.1	)		1,148.8
Total Assets	$	11,973.6	$	18,975.9	$	23,423.3	$	31,196.0	$	(55,412.1	)	$	30,156.7
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	135.3	$	108.9	$	316.9	$	—		$	561.1
Accounts payable		—		0.7		31.3		1,839.4		(39.6	)		1,831.8
Accrued compensation and benefits		0.3		—		14.5		455.6		—			470.4
Other current liabilities		—		18.6		83.8		469.4		—			571.8
Intercompany payables		303.4		—		1,052.9		—		(1,356.3	)		—
Total current liabilities		303.7		154.6		1,291.4		3,081.3		(1,395.9	)		3,435.1
Long-term debt due after one year		—		6,608.0		1,982.9		911.4		—			9,502.3
Intercompany notes payable		—		636.3		2,390.5		311.9		(3,338.7	)		—
Pension liabilities, net of current portion		—		—		147.6		146.4		—			294.0
Postretirement benefit liabilities, net of    current portion		—		—		25.7		136.4		—			162.1
Non-recourse liabilities held by special    purpose entities		—		—		—		1,145.2		—			1,145.2
Deferred income taxes		—		—		278.9		2,675.2		(76.1	)		2,878.0
Other long-term liabilities		—		12.9		131.2		909.8		—			1,053.9
Redeemable noncontrolling interests		—		—		—		1.9		—			1.9
Total stockholders’ equity		11,669.9		11,564.1		17,175.1		21,862.2		(50,601.4	)		11,669.9
Noncontrolling interests		—		—		—		14.3		—			14.3
Total equity		11,669.9		11,564.1		17,175.1		21,876.5		(50,601.4	)		11,684.2
Total Liabilities and Equity	$	11,973.6	$	18,975.9	$	23,423.3	$	31,196.0	$	(55,412.1	)	$	30,156.7

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	Three Months Ended December 31, 2019
(In millions)	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities:
Net cash provided by (used for) operating    activities	$	104.5		$	8.3		$	(17.1	)	$	335.5		$	—		$	431.2
Investing activities:
Capital expenditures		—			—			—			(374.8	)		—			(374.8	)
Investment in unconsolidated entities		—			—			—			(0.3	)		—			(0.3	)
Proceeds from sale of property, plant and    equipment		—			—			0.1			7.8			—			7.9
Proceeds from property, plant and equipment   insurance settlement		—			—			—			1.4			—			1.4
Intercompany notes proceeds		—			—			3.0			—			(3.0	)		—
Other		—			—			4.9			—			—			4.9
Net cash provided by (used for) investing    activities		—			—			8.0			(365.9	)		(3.0	)		(360.9	)
Financing activities:
Repayments of revolving credit    facilities		—			(19.2	)		—			(20.9	)		—			(40.1	)
Additions to debt		—			—			—			101.4			—			101.4
Repayments of debt		—			—			—			(4.0	)		—			(4.0	)
Changes in commercial paper, net		—			10.9			—			—			—			10.9
Other financing repayments		—			—			—			(16.2	)		—			(16.2	)
Issuances of common stock, net of related    minimum tax withholdings		15.5			—			—			—			—			15.5
Cash dividends paid to stockholders		(120.0	)		—			—			—			—			(120.0	)
Cash distributions paid to noncontrolling    interests		—			—			—			(0.3	)		—			(0.3	)
Intercompany notes payments		—			—			—			(3.0	)		3.0			—
Other		—			—			—			(8.5	)		—			(8.5	)
Net cash (used for) provided by    financing activities		(104.5	)		(8.3	)		—			48.5			3.0			(61.3	)
Effect of exchange rate changes on cash,    cash equivalents and restricted cash		—			—			—			(4.2	)		—			(4.2	)
(Decrease) increase in cash, cash   equivalents and restricted cash		—			—			(9.1	)		13.9			—			4.8
Cash, cash equivalents and restricted cash    at beginning of period		—			—			17.8			133.8			—			151.6
Cash, cash equivalents and restricted cash    at end of period	$	—		$	—		$	8.7		$	147.7		$	—		$	156.4

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
	Three Months Ended December 31, 2018
(In millions)	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities:
Net cash provided by (used for) operating    activities	$	147.4		$	83.4		$	(519.0	)	$	591.3		$	—		$	303.1
Investing activities:
Capital expenditures		—			—			(1.5	)		(320.5	)		—			(322.0	)
Cash paid related to business combinations,    net of cash acquired		—			—			—			(3,342.9	)		—			(3,342.9	)
Proceeds from sale of property, plant and    equipment		—			—			—			88.0			—			88.0
Intercompany notes issued		—			—			—			(75.7	)		75.7			—
Intercompany notes proceeds		—			9.3			0.6			3,800.0			(3,809.9	)		—
Intercompany capital investment		(563.0	)		(563.0	)		—			—			1,126.0			—
Other		—			—			3.8			0.3			—			4.1
Net cash (used for) provided by investing    activities		(563.0	)		(553.7	)		2.9			149.2			(2,608.2	)		(3,572.8	)
Financing activities:
Proceeds from issuance of notes		—			1,498.5			—			—			—			1,498.5
Additions to revolving credit    facilities		—			30.7			—			102.9			—			133.6
Additions to debt		—			3,800.7			—			5.4			—			3,806.1
Repayments of debt		—			(1,489.2	)		—			(1,358.7	)		—			(2,847.9	)
Changes in commercial paper, net		—			447.7			—			—			—			447.7
Other financing additions		—			0.7			—			13.9			—			14.6
Issuances of common stock, net of related    minimum tax withholdings		12.9			—			—			—			—			12.9
Purchases of common stock		(44.2	)		—			—			—			—			(44.2	)
Cash dividends paid to stockholders		(116.1	)		—			—			—			—			(116.1	)
Cash distributions paid to noncontrolling    interests		—			—			—			(2.2	)		—			(2.2	)
Intercompany notes borrowing		—			—			75.7			—			(75.7	)		—
Intercompany notes payments		—			(3,800.0	)		—			(9.9	)		3,809.9			—
Intercompany capital receipt		563.0			—			—			563.0			(1,126.0	)		—
Other		—			(19.0	)		—			12.6			—			(6.4	)
Net cash provided by (used for)    financing activities		415.6			470.1			75.7			(673.0	)		2,608.2			2,896.6
Effect of exchange rate changes on cash,    cash equivalents and restricted cash		—			—			—			(3.0	)		—			(3.0	)
(Decrease) increase in cash, cash    equivalents and restricted cash		—			(0.2	)		(440.4	)		64.5			—			(376.1	)
Cash, cash equivalents and restricted cash    at beginning of period		—			0.2			490.8			145.8			—			636.8
Cash, cash equivalents and restricted cash    at end of period	$	—		$	—		$	50.4		$	210.3		$	—		$	260.7

Summary of Non-Cash Transactions

The table below summarizes these non-cash transactions.

	Three Months Ended December 31, 2019
(In millions)	Parent		Issuer		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Investing activities:
Intercompany notes issued	$	—	$	—	$	(2.3	)	$	—		$	2.3		$	—
Intercompany notes proceeds	$	—	$	—	$	10.4		$	—		$	(10.4	)	$	—
Intercompany capital investment	$	—	$	—	$	(0.6	)	$	—		$	0.6		$	—
Intercompany return of capital	$	—	$	—	$	—		$	—		$	—		$	—
Financing activities:
Intercompany notes borrowing	$	—	$	—	$	—		$	2.3		$	(2.3	)	$	—
Intercompany notes payments	$	—	$	—	$	—		$	(10.4	)	$	10.4		$	—
Intercompany capital receipt	$	—	$	—	$	—		$	0.6		$	(0.6	)	$	—
Intercompany dividends paid	$	—	$	—	$	—		$	(18.6	)	$	18.6		$	—

The table below summarizes these non-cash transactions.

	Three Months Ended December 31, 2018
(In millions)	Parent			Issuer			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Investing activities:
Intercompany notes issued	$	—		$	(3,800.0	)	$	(4,519.8	)	$	(8,057.5	)	$	16,377.3		$	—
Intercompany notes proceeds	$	—		$	4,519.8		$	4,519.8		$	4,257.5		$	(13,297.1	)	$	—
Intercompany capital investment	$	(10,396.2	)	$	(5,434.8	)	$	(5,892.3	)	$	—		$	21,723.3		$	—
Intercompany return of capital	$	563.0		$	1,478.0		$	915.0		$	—		$	(2,956.0	)	$	—
Financing activities:
Intercompany notes borrowing	$	—		$	3,800.0		$	457.5		$	12,119.8		$	(16,377.3	)	$	—
Intercompany notes payments	$	—		$	—		$	(457.5	)	$	(12,839.6	)	$	13,297.1		$	—
Intercompany capital receipt	$	—		$	10,396.2		$	4,977.3		$	6,349.8		$	(21,723.3	)	$	—
Intercompany capital distribution	$	(563.0	)	$	(563.0	)	$	(457.5	)	$	(1,372.5	)	$	2,956.0		$	—
Intercompany dividends paid	$	—		$	—		$	—		$	(572.4	)	$	572.4		$	—