Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]



	December 31, 2015
(in millions of dollars)	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	0.8		$	0.3		$	54.3		$	—		$	55.4
Accounts receivable, net	—			163.8			205.5			—			369.3
Inventories	—			125.8			77.8			—			203.6
Receivables from affiliates	4.4			474.6			64.5			(543.5		)	—
Other current assets	1.1			10.8			13.4			—			25.3
Total current assets	6.3			775.3			415.5			(543.5		)	653.6
Property, plant and equipment, net	3.7			107.8			97.6			—			209.1
Deferred income taxes	—			—			25.1			—			25.1
Goodwill	—			330.8			166.1			—			496.9
Identifiable intangibles, net	57.4			382.0			81.5			—			520.9
Other non-current assets	3.1			0.8			43.9			—			47.8
Investment in, long term receivable from affiliates	1,545.7			903.8			441.0			(2,890.5		)	—
Total assets	$	1,616.2		$	2,500.5		$	1,270.7		$	(3,434.0	)	$	1,953.4
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	—		$	86.6		$	61.0		$	—		$	147.6
Accrued compensation	3.8			17.9			12.3			—			34.0
Accrued customer programs liabilities	—			63.9			44.8			—			108.7
Accrued interest	6.3			—			—			—			6.3
Other current liabilities	2.3			22.9			33.5			—			58.7
Payables to affiliates	5.6			210.0			239.5			(455.1		)	—
Total current liabilities	18.0			401.3			391.1			(455.1		)	355.3
Long-term debt, net	720.5			—			—			—			720.5
Long-term notes payable to affiliates	178.2			26.7			21.0			(225.9		)	—
Deferred income taxes	113.5			—			28.8			—			142.3
Pension and post-retirement benefit obligations	1.5			55.2			32.4			—			89.1
Other non-current liabilities	3.3			20.8			40.9			—			65.0
Total liabilities	1,035.0			504.0			514.2			(681.0		)	1,372.2
Stockholders’ equity:
Common stock	1.1			448.0			227.5			(675.5		)	1.1
Treasury stock	(11.8		)	—			—			—			(11.8		)
Paid-in capital	1,988.3			1,551.1			743.2			(2,294.3		)	1,988.3
Accumulated other comprehensive loss	(429.2		)	(68.8		)	(305.8		)	374.6			(429.2		)
(Accumulated deficit) retained earnings	(967.2		)	66.2			91.6			(157.8		)	(967.2		)
Total stockholders’ equity	581.2			1,996.5			756.5			(2,753.0		)	581.2
Total liabilities and stockholders’ equity	$	1,616.2		$	2,500.5		$	1,270.7		$	(3,434.0	)	$	1,953.4

Condensed Consolidating Balance Sheets



	December 31, 2014
(in millions of dollars)	Parent			Guarantors			Non-Guarantors			Eliminations			Consolidated
Assets
Current assets:
Cash and cash equivalents	$	9.7		$	0.1		$	43.4		$	—		$	53.2
Accounts receivable, net	—			156.1			264.4			—			420.5
Inventories	—			129.9			100.0			—			229.9
Receivables from affiliates	4.8			302.7			68.0			(375.5		)	—
Deferred income taxes	27.2			—			12.2			—			39.4
Other current assets	1.4			15.1			19.3			—			35.8
Total current assets	43.1			603.9			507.3			(375.5		)	778.8
Property, plant and equipment, net	4.2			117.8			113.5			—			235.5
Deferred income taxes	0.9			—			30.8			—			31.7
Goodwill	—			330.9			214.0			—			544.9
Identifiable intangibles, net	57.5			397.9			116.0			—			571.4
Other non-current assets	3.9			1.0			47.9			—			52.8
Investment in, long term receivable from affiliates	1,680.0			890.8			441.0			(3,011.8		)	—
Total assets	$	1,789.6		$	2,342.3		$	1,470.5		$	(3,387.3	)	$	2,215.1
Liabilities and Stockholders’ Equity
Current liabilities:
Notes payable	$	—		$	—		$	0.8		$	—		$	0.8
Current portion of long-term debt	0.7			0.1			—			—			0.8
Accounts payable	—			84.8			74.3			—			159.1
Accrued compensation	3.3			20.1			13.2			—			36.6
Accrued customer programs liabilities	—			60.1			51.7			—			111.8
Accrued interest	6.5			—			—			—			6.5
Other current liabilities	1.9			31.0			46.9			—			79.8
Payables to affiliates	5.6			214.1			240.5			(460.2		)	—
Total current liabilities	18.0			410.2			427.4			(460.2		)	395.4
Long-term debt, net	787.7			—			—			—			787.7
Long-term notes payable to affiliates	178.2			26.7			31.2			(236.1		)	—
Deferred income taxes	120.0			—			52.2			—			172.2
Pension and post-retirement benefit obligations	1.5			52.3			46.7			—			100.5
Other non-current liabilities	3.2			19.9			55.2			—			78.3
Total liabilities	1,108.6			509.1			612.7			(696.3		)	1,534.1
Stockholders’ equity:
Common stock	1.1			448.0			247.0			(695.0		)	1.1
Treasury stock	(5.9		)	—			—			—			(5.9		)
Paid-in capital	2,031.5			1,551.1			743.0			(2,294.1		)	2,031.5
Accumulated other comprehensive loss	(292.6		)	(65.2		)	(183.0		)	248.2			(292.6		)
(Accumulated deficit) retained earnings	(1,053.1		)	(100.7		)	50.8			49.9			(1,053.1		)
Total stockholders’ equity	681.0			1,833.2			857.8			(2,691.0		)	681.0
Total liabilities and stockholders’ equity	$	1,789.6		$	2,342.3		$	1,470.5		$	(3,387.3	)	$	2,215.1

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2015
(in millions of dollars)	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	—		$	948.5		$	610.3		$	(48.4	)	$	1,510.4
Cost of products sold	—			645.0			435.4			(48.4		)	1,032.0
Gross profit	—			303.5			174.9			—			478.4
Advertising, selling, general and administrative expenses	42.8			154.2			98.7			—			295.7
Amortization of intangibles	0.1			16.0			3.5			—			19.6
Restructuring credits	—			(0.3		)	(0.1		)	—			(0.4		)
Operating income (loss)	(42.9		)	133.6			72.8			—			163.5
Expense (income) from affiliates	(1.2		)	(17.1		)	18.3			—			—
Interest expense	45.4			—			(0.9		)	—			44.5
Interest income	—			—			(6.6		)	—			(6.6		)
Equity in earnings of joint ventures	—			—			(7.9		)	—			(7.9		)
Other expense (income), net	0.7			2.0			(0.6		)	—			2.1
Income (loss) from continuing operations before income taxes and earnings of wholly owned subsidiaries	(87.8		)	148.7			70.5			—			131.4
Income tax expense	25.2			—			20.3			—			45.5
Income (loss) from continuing operations	(113.0		)	148.7			50.2			—			85.9
Loss from discontinued operations, net of income taxes	—			—			—			—			—
Income (loss) before earnings of wholly owned subsidiaries	(113.0		)	148.7			50.2			—			85.9
Earnings of wholly owned subsidiaries	198.9			47.3			—			(246.2		)	—
Net income	$	85.9		$	196.0		$	50.2		$	(246.2	)	$	85.9
Comprehensive (loss) income	$	(50.7	)	$	192.4		$	(72.6	)	$	(119.8	)	$	(50.7	)

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2014
(in millions of dollars)	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	—		$	969.2		$	772.0		$	(52.0	)	$	1,689.2
Cost of products sold	—			673.4			537.9			(52.0		)	1,159.3
Gross profit	—			295.8			234.1			—			529.9
Advertising, selling, general and administrative expenses	45.4			157.1			126.1			—			328.6
Amortization of intangibles	0.1			17.7			4.4			—			22.2
Restructuring charges	—			4.6			0.9			—			5.5
Operating income (loss)	(45.5		)	116.4			102.7			—			173.6
Expense (income) from affiliates	(1.5		)	(20.7		)	22.2			—			—
Interest expense	49.9			—			(0.4		)	—			49.5
Interest income	—			(0.1		)	(5.5		)	—			(5.6		)
Equity in earnings of joint ventures	—			—			(8.1		)	—			(8.1		)
Other expense (income), net	0.4			(0.7		)	1.1			—			0.8
Income (loss) from continuing operations before income taxes and earnings of wholly owned subsidiaries	(94.3		)	137.9			93.4			—			137.0
Income tax expense	18.2			—			27.2			—			45.4
Income (loss) from continuing operations	(112.5		)	137.9			66.2			—			91.6
Loss from discontinued operations, net of income taxes	—			—			—			—			—
Income (loss) before earnings of wholly owned subsidiaries	(112.5		)	137.9			66.2			—			91.6
Earnings of wholly owned subsidiaries	204.1			62.7			—			(266.8		)	—
Net income	$	91.6		$	200.6		$	66.2		$	(266.8	)	$	91.6
Comprehensive (loss) income	$	(15.4	)	$	181.0		$	(17.1	)	$	(163.9	)	$	(15.4	)

Condensed Consolidating Statement of Comprehensive Income



	Year Ended December 31, 2013
(in millions of dollars)	Parent			Guarantors			Non- Guarantors			Eliminations			Consolidated
Net sales	$	—		$	971.2		$	814.0		$	(20.1	)	$	1,765.1
Cost of products sold	—			669.8			567.5			(20.1		)	1,217.2
Gross profit	—			301.4			246.5			—			547.9
Advertising, selling, general and administrative expenses	40.6			183.5			123.2			—			347.3
Amortization of intangibles	0.1			19.7			4.9			—			24.7
Restructuring charges	0.5			14.3			15.3			—			30.1
Operating income (loss)	(41.2		)	83.9			103.1			—			145.8
Expense (income) from affiliates	(1.5		)	(21.7		)	23.2			—			—
Interest expense	58.6			—			0.4			—			59.0
Interest income	—			(0.1		)	(4.2		)	—			(4.3		)
Equity in earnings of joint ventures	—			—			(8.2		)	—			(8.2		)
Other expense, net	4.8			0.8			2.0			—			7.6
Income (loss) from continuing operations before income taxes and earnings of wholly owned subsidiaries	(103.1		)	104.9			89.9			—			91.7
Income tax expense (benefit)	(1.5		)	—			15.9			—			14.4
Income (loss) from continuing operations	(101.6		)	104.9			74.0			—			77.3
Loss from discontinued operations, net of income taxes	—			(0.2		)	—			—			(0.2		)
Income (loss) before earnings of wholly owned subsidiaries	(101.6		)	104.7			74.0			—			77.1
Earnings of wholly owned subsidiaries	178.7			72.6			—			(251.3		)	—
Net income	$	77.1		$	177.3		$	74.0		$	(251.3	)	$	77.1
Comprehensive income	$	47.6		$	200.6		$	26.5		$	(227.1	)	$	47.6

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31, 2015
(in millions of dollars)	Parent			Guarantors			Non-Guarantors			Consolidated
Net cash provided (used) by operating activities	$	(68.2	)	$	182.5		$	56.9		$	171.2
Investing activities:
Additions to property, plant and equipment	—			(12.0		)	(15.6		)	(27.6		)
Payments for (proceeds from) interest in affiliates	—			19.5			(19.5		)	—
Proceeds from the disposition of assets	—			—			2.8			2.8
Other	—			—			0.2			0.2
Net cash (used) provided by investing activities	—			7.5			(32.1		)	(24.6		)
Financing activities:
Intercompany financing	172.4			(175.3		)	2.9			—
Net dividends	23.8			(14.4		)	(9.4		)	—
Proceeds from long-term borrowings	300.0			—			—			300.0
Repayments of long-term debt	(370.0		)	(0.1		)	—			(370.1		)
Repayments of notes payable, net	—			—			(0.8		)	(0.8		)
Payments for debt issuance costs	(1.7		)	—			—			(1.7		)
Repurchases of common stock	(60.0		)	—			—			(60.0		)
Payments related to tax withholding for share-based compensation	(5.9		)	—			—			(5.9		)
Proceeds from the exercise of stock options	0.7			—			—			0.7
Net cash (used) provided by financing activities	59.3			(189.8		)	(7.3		)	(137.8		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(6.6		)	(6.6		)
Net increase (decrease) in cash and cash equivalents	(8.9		)	0.2			10.9			2.2
Cash and cash equivalents:
Beginning of the period	9.7			0.1			43.4			53.2
End of the period	$	0.8		$	0.3		$	54.3		$	55.4

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31, 2014
(in millions of dollars)	Parent			Guarantors			Non-Guarantors			Consolidated
Net cash provided (used) by operating activities	$	(77.9	)	$	182.3		$	67.3		$	171.7
Investing activities:
Additions to property, plant and equipment	(0.2		)	(10.6		)	(18.8		)	(29.6		)
Payments for (proceeds from) interest in affiliates	—			20.5			(20.5		)	—
Proceeds from the disposition of assets	—			3.6			0.2			3.8
Net cash (used) provided by investing activities	(0.2		)	13.5			(39.1		)	(25.8		)
Financing activities:
Intercompany financing	188.3			(181.3		)	(7.0		)	—
Net dividends	35.4			(15.3		)	(20.1		)	—
Repayments of long-term debt	(121.0		)	(0.1		)	—			(121.1		)
Borrowings of notes payable, net	—			—			1.0			1.0
Payments for debt issuance costs	(0.3		)	—			—			(0.3		)
Repurchase of common stock	(19.4		)	—			—			(19.4		)
Payments related to tax withholding for share-based compensation	(2.5		)	—			—			(2.5		)
Proceeds from the exercise of stock options	0.3			—			—			0.3
Net cash (used) provided by financing activities	80.8			(196.7		)	(26.1		)	(142.0		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(4.2		)	(4.2		)
Net (decrease) increase in cash and cash equivalents	2.7			(0.9		)	(2.1		)	(0.3		)
Cash and cash equivalents:
Beginning of the period	7.0			1.0			45.5			53.5
End of the period	$	9.7		$	0.1		$	43.4		$	53.2

Condensed Consolidating Statement of Cash Flows



	Year Ended December 31,2013
(in millions of dollars)	Parent			Guarantors			Non-Guarantors			Consolidated
Net cash provided (used) by operating activities:	$	(81.7	)	$	186.5		$	89.7		$	194.5
Investing activities:
Additions to property, plant and equipment	—			(21.2		)	(15.4		)	(36.6		)
Payments for (proceeds from) interest in affiliates	—			55.6			(55.6		)	—
Payments related to the sale of discontinued operations	—			(1.5		)	—			(1.5		)
Proceeds from the disposition of assets	—			—			6.1			6.1
Cost of acquisitions, net of cash acquired	—			(1.3		)	—			(1.3		)
Net cash (used) provided by investing activities	—			31.6			(64.9		)	(33.3		)
Financing activities:
Intercompany financing	143.8			(168.2		)	24.4			—
Net dividends	65.7			(45.9		)	(19.8		)	—
Proceeds from long-term borrowings	530.0			—			—			530.0
Repayments of long-term debt	(658.1		)	—			(21.4		)	(679.5		)
(Repayments) borrowings of short-term debt, net	0.5			—			(1.2		)	(0.7		)
Payments for debt issuance costs	(4.3		)	—			—			(4.3		)
Payments related to tax withholding for share-based compensation	(1.0		)	—			—			(1.0		)
Net cash (used) provided by financing activities	76.6			(214.1		)	(18.0		)	(155.5		)
Effect of foreign exchange rate changes on cash	—			—			(2.2		)	(2.2		)
Net increase (decrease) in cash and cash equivalents	(5.1		)	4.0			4.6			3.5
Cash and cash equivalents:
Beginning of the period	12.1			(3.0		)	40.9			50.0
End of the period	$	7.0		$	1.0		$	45.5		$	53.5