CONDENSED FINANCIAL INFORMATION OF REGISTRANT ANIXTER INTERNATIONAL INC.

12 Months Ended

Jan. 03, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Years Ended
(In millions)	January 3, 2020		December 28, 2018		December 29, 2017
Operating loss	$	(6.1)	$	(5.4)	$	(5.2)
Other income:
Interest income, including intercompany	9.5		8.3		6.8
Income before income taxes and equity in earnings of subsidiaries	3.4		2.9		1.6
Income tax expense	0.7		0.7		0.6
Income before equity in earnings of subsidiaries	2.7		2.2		1.0
Equity in earnings of subsidiaries	260.2		154.1		108.0
Net income	$	262.9	$	156.3	$	109.0
Comprehensive income	$	272.7	$	97.2	$	149.6

See accompanying note to the condensed financial information of registrant.

BALANCE SHEETS

(In millions)	January 3, 2020		December 28, 2018
ASSETS
Current assets:
Cash and cash equivalents	$	0.5	$	0.2
Other assets	0.2		0.1
Total current assets	0.7		0.3
Other assets (primarily investment in and advances to subsidiaries)	1,861.8		1,571.9
	$	1,862.5	$	1,572.2
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable and accrued expenses, due currently	$	0.2	$	0.2
Other non-current liabilities	1.4		1.6
Total liabilities	1.6		1.8
Stockholders’ equity:
Common stock	34.2		33.9
Capital surplus	310.2		292.7
Retained earnings	1,783.8		1,513.2
Accumulated other comprehensive loss	(267.3)		(269.4)
Total stockholders’ equity	1,860.9		1,570.4
	$	1,862.5	$	1,572.2

See accompanying note to the condensed financial information of registrant.

STATEMENTS OF CASH FLOWS

	Years Ended
	January 3, 2020		December 28, 2018		December 29, 2017
(In millions)
Operating activities:
Net income	$	262.9	$	156.3	$	109.0
Adjustments to reconcile net income to net cash used in operating activities:
Equity in earnings of subsidiaries	(260.2)		(154.1)		(108.0)
Dividend from subsidiary	7.8		8.0		3.7
Stock-based compensation	2.8		2.4		2.5
Income tax expense	0.7		0.7		0.6
Intercompany transactions	(17.3)		(14.7)		(13.2)
Changes in assets and liabilities, net	(0.1)		(0.1)		(0.1)
Net cash used in operating activities	(3.4)		(1.5)		(5.5)
Investing activities:
Other	(1.0)		—		—
Net cash used in investing activities	(1.0)		—		—
Financing activities:
Proceeds from stock options exercised	4.7		1.5		5.0
Loans from subsidiaries, net	—		—		0.7
Other, net	—		—		(0.2)
Net cash provided by financing activities	4.7		1.5		5.5
Increase in cash and cash equivalents	0.3		—		—
Cash and cash equivalents at beginning of period	0.2		0.2		0.2
Cash and cash equivalents at end of period	$	0.5	$	0.2	$	0.2

See accompanying note to the condensed financial information of registrant.Note A — Basis of PresentationIn the parent company condensed financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent company financial statements should be read in conjunction with our Consolidated Financial Statements. See Note 5. "Debt" in the notes to the Consolidated Financial Statements for details on dividend restrictions from Anixter Inc. to the parent company.

Significant Accounting Policies [Text Block]

Basis of PresentationIn the parent company condensed financial statements, our investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. Our share of net income of our unconsolidated subsidiaries is included in consolidated income using the equity method. The parent company financial statements should be read in conjunction with our Consolidated Financial Statements. See Note 5. "Debt" in the notes to the Consolidated Financial Statements for details on dividend restrictions from Anixter Inc. to the parent company.