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Presentation, Summary of Significant Accounting Policies and Recent Accounting Updates (Tables)
12 Months Ended
Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]  
Summary of Allowance for Doubtful Accounts

The following table presents activity related to the Company’s allowance for doubtful accounts:

 

 

Year Ended December 31,

 

(In millions)

2016

 

 

2015

 

Balance, beginning of period

$

0.3

 

 

$

 

Expenses for sales returns and allowances, and uncollectible accounts, net of recoveries

 

(0.1

)

 

 

0.3

 

Balance, end of period

$

0.2

 

 

$

0.3

 

 

Estimated Useful Lives of Related Assets

Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, as follows:

 

Estimated Useful Lives

Buildings and improvements

5 - 33 years

Production equipment and machinery

2 - 25 years

Office furniture, equipment and other

3 - 10 years

 

Impact on Consolidated Statements of Cash Flows Due to Adoption of Amendments in Accounting Updates

The following tables provides details of the impact the amendments in this Update had on our consolidated statements of cash flows for the years ended December 31, 2015 and 2014:

 

Year Ended December 31, 2015

 

(In millions)

As Previously Reported

 

 

Impact of Adoption

 

 

As Currently Reported

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

Prepaid expenses, supplies and other current assets

 

3.7

 

 

 

(2.8

)

 

 

0.9

 

Other noncurrent assets

 

(5.4

)

 

 

3.4

 

 

 

(2.0

)

Net cash used in operating activities of discontinued operations

 

(14.0

)

 

 

0.1

 

 

 

(13.9

)

Net cash provided by operating activities

 

92.5

 

 

 

0.7

 

 

 

93.2

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

Acquisition of business, net of cash

 

(524.7

)

 

 

0.2

 

 

 

(524.5

)

Proceeds from sale of NABCO

 

74.1

 

 

 

3.8

 

 

 

77.9

 

Net cash used in investing activities

 

(477.3

)

 

 

4.0

 

 

 

(473.3

)

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by financing activities

 

358.0

 

 

 

 

 

 

358.0

 

Effect of exchange rate changes on cash, cash equivalents,

   restricted cash and restricted cash equivalents

 

(0.3

)

 

 

 

 

 

(0.3

)

Decrease in cash, cash equivalents, restricted cash

   and restricted cash equivalents

 

(27.1

)

 

 

4.7

 

 

 

(22.4

)

Cash, cash equivalents, restricted cash and restricted cash

   equivalents, beginning of period

 

62.9

 

 

 

2.8

 

 

 

65.7

 

Cash, cash equivalents, restricted cash and restricted cash

   equivalents, end of period

$

35.8

 

 

$

7.5

 

 

$

43.3

 

 

 

Year Ended December 31, 2014

 

(In millions)

As Previously Reported

 

 

Impact of Adoption

 

 

As Currently Reported

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

 

 

 

Net cash used in operating activities

 

(14.0

)

 

 

 

 

 

(14.0

)

Cash flows from investing activities:

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by investing activities

 

2.9

 

 

 

 

 

 

2.9

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

 

 

 

Net cash provided by financing activities

 

26.0

 

 

 

 

 

 

26.0

 

Increase in cash, cash equivalents, restricted cash and

   restricted cash equivalents

 

14.9

 

 

 

 

 

 

14.9

 

Cash, cash equivalents, restricted cash and restricted cash

   equivalents, beginning of period

 

48.0

 

 

 

2.8

 

 

 

50.8

 

Cash, cash equivalents, restricted cash and restricted cash

   equivalents, end of period

$

62.9

 

 

$

2.8

 

 

$

65.7