XML 50 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
Significant Accounting Policies Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of Impact of New Accounting Pronouncements
The impact to our financial statements for the quarter ended December 31, 2018 was as follows (in millions):

 
For the Twelve Months Ended December 31, 2018
Income Statement
As Reported
Balances Without Adoption of ASC 606
Effect of Adoption Higher/(Lower)
Net sales
$
4,481.7

$
4,478.7

$
3.0

 
 
 
 
Costs and expenses
 
 
 
Cost of goods sold
$
3,181.3

$
3,178.3

$
3.0


 
As of December 31, 2018
Balance Sheet
As Reported
Balances Without Adoption of ASC 606
Effect of Adoption Higher/(Lower)
ASSETS
 
 
 
Accounts receivable, net
$
725.4

$
708.7

$
16.7

Inventories, net
651.0

661.8

(10.8
)
Other current assets
69.1

59.5

9.6

Total Assets
$
4,872.1

$
4,856.6

$
15.5

 
 
 
 
LIABILITIES
 
 
 
Other accrued liabilities
$
226.6

$
211.7

$
14.9

Total Liabilities
$
3,073.2

$
3,058.3

$
14.9

 
 
 
 
EQUITY
 
 
 
Retained earnings
$
2,064.4

$
2,063.8

$
0.6

Total Equity
$
1,798.9

$
1,798.3

$
0.6

The impact to our fiscal quarters and year-ended 2017 is shown in the table below (in millions):

 
Three Months Ended
 
Twelve Months Ended
(in millions)
Dec 31, 2017
Sep 30, 2017
Jun 30, 2017
Mar 31, 2017
 
Dec 31, 2017
Dec 31, 2016
Cost of goods sold
$
(0.9
)
$
(0.8
)
$
(0.8
)
$
(0.8
)
 
$
(3.3
)
$
(4.4
)
Selling & administrative expenses
(2.9
)
(3.0
)
(3.0
)
(2.9
)
 
(11.8
)
(7.6
)
Total operating expenses
(3.8
)
(3.8
)
(3.8
)
(3.7
)
 
(15.1
)
(12.0
)
Operating income
3.8

3.8

3.8

3.7

 
15.1

12.0

Total other expense
(3.8
)
(3.8
)
(3.8
)
(3.7
)
 
(15.1
)
(12.0
)
Net income
$
—

$
—

$
—

$
—

 
$
—

$
—