Subsidiary Guarantors (Tables) (Subsidiary Guarantors)

3 Months Ended

Jan. 30, 2015

Subsidiary Guarantors

Condensed Financial Statements, Captions [Line Items]

Subsidiary guarantor condensed consolidating statements of income

Condensed Consolidating Statement of Income Quarter ended January 30, 2015
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	441,075		$	473,089		$	(210,291	)	$	703,873
Cost of sales	—			321,204			362,940			(163,398		)	520,746
Product development, selling and administrative expenses	9,848			55,491			72,295			—			137,634
Other (income) expense	—			4,637			(7,850		)	—			(3,213		)
Operating income (loss)	(9,848		)	59,743			45,704			(46,893		)	48,706
Intercompany items	16,770			(23,708		)	(6,040		)	12,978			—
Interest (expense) income, net	(15,598		)	1,634			1,007			—			(12,957		)
Income (loss) before income taxes and equity in income of subsidiaries	(8,676		)	37,669			40,671			(33,915		)	35,749
Provision (benefit) for income taxes	17,492			2,996			(8,333		)	—			12,155
Equity in income of subsidiaries	23,594			43,472			—			(67,066		)	—
Net income (loss)	$	(2,574	)	$	78,145		$	49,004		$	(100,981	)	$	23,594
Comprehensive (loss) income	$	(114,924	)	$	79,554		$	(77,904	)	$	24,518		$	(88,756	)

Condensed Consolidating Statement of Income Quarter ended January 31, 2014
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	480,672		$	602,765		$	(244,125	)	$	839,312
Cost of sales	—			363,067			445,839			(204,728		)	604,178
Product development, selling and administrative expenses	14,669			67,835			70,525			—			153,029
Other (income) expense	(473		)	1,949			(4,616		)	—			(3,140		)
Operating income (loss)	(14,196		)	47,821			91,017			(39,397		)	85,245
Intercompany items	17,278			(19,986		)	(9,071		)	11,779			—
Interest (expense) income, net	(16,045		)	1,885			340			—			(13,820		)
Income (loss) before income taxes and equity in income of subsidiaries	(12,963		)	29,720			82,286			(27,618		)	71,425
Provision (benefit) for income taxes	(5,054		)	26,368			1,250			—			22,564
Equity in income of subsidiaries	56,770			33,013			—			(89,783		)	—
Net income	$	48,861		$	36,365		$	81,036		$	(117,401	)	$	48,861
Comprehensive income	$	2,403		$	34,830		$	33,332		$	(68,162	)	$	2,403

Subsidiary guarantor condensed consolidating balance sheets

Condensed Consolidating Balance Sheet As of January 30, 2015
In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	10,550		$	3,427	$	138,349	$	—		$	152,326
Accounts receivable, net	—			391,317		520,196		(22,838		)	888,675
Inventories	—			490,101		793,318		(107,371		)	1,176,048
Other current assets	73,001			13,833		88,060		15			174,909
Total current assets	83,551			898,678		1,539,923		(130,194		)	2,391,958
Property, plant and equipment, net	24,116			340,593		504,871		(4,861		)	864,719
Other assets:
Other intangible assets, net	—			224,217		86,812		—			311,029
Goodwill	—			453,374		1,039,927		—			1,493,301
Deferred income taxes	(6,958		)	—		71,777		—			64,819
Other non-current assets	4,082,542			1,976,228		2,535,322		(8,424,811		)	169,281
Total other assets	4,075,584			2,653,819		3,733,838		(8,424,811		)	2,038,430
Total assets	$	4,183,251		$	3,893,090	$	5,778,632	$	(8,559,866	)	$	5,295,107
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings, including current portion of long-term obligations	$	4,688		$	11,896	$	88	$	—		$	16,672
Trade accounts payable	2,306			173,934		146,647		—			322,887
Employee compensation and benefits	6,819			34,472		43,709		—			85,000
Advance payments and progress billings	—			123,984		215,298		(26,881		)	312,401
Accrued warranties	—			15,175		43,353		—			58,528
Other accrued liabilities	71,946			58,521		104,888		(7,621		)	227,734
Current liabilities of discontinued operations	—			11,582		—		—			11,582
Total current liabilities	85,759			429,564		553,983		(34,502		)	1,034,804
Long-term obligations	1,264,979			—		9		—			1,264,988
Other liabilities:
Liabilities for postretirement benefits	18,420			870		—		—			19,290
Accrued pension costs	124,560			8,748		3,944		—			137,252
Other non-current liabilities	3,161			7,978		141,262		—			152,401
Total other liabilities	146,141			17,596		145,206		—			308,943
Shareholders’ equity	2,686,372			3,445,930		5,079,434		(8,525,364		)	2,686,372
Total liabilities and shareholders’ equity	$	4,183,251		$	3,893,090	$	5,778,632	$	(8,559,866	)	$	5,295,107

Condensed Consolidating Balance Sheet As of October 31, 2014
In thousands	Parent Company			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	54,874		$	16,429	$	198,888	$	—		$	270,191
Accounts receivable, net	—			400,456		675,515		(16,262		)	1,059,709
Inventories	—			470,194		753,922		(115,808		)	1,108,308
Other current assets	87,945			9,520		82,671		15			180,151
Total current assets	142,819			896,599		1,710,996		(132,055		)	2,618,359
Property, plant and equipment, net	23,660			346,761		525,642		(3,623		)	892,440
Other assets:
Other intangible assets, net	—			228,950		90,319		—			319,269
Goodwill	—			453,374		1,063,319		—			1,516,693
Deferred income taxes	159			—		70,022		—			70,181
Other non-current assets	4,191,771			2,102,499		2,644,843		(8,759,069		)	180,044
Total other assets	4,191,930			2,784,823		3,868,503		(8,759,069		)	2,086,187
Total assets	$	4,358,409		$	4,028,183	$	6,105,141	$	(8,894,747	)	$	5,596,986
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings, including current portion of long-term obligations	$	—		$	11,634	$	105	$	—		$	11,739
Trade accounts payable	3,134			215,235		177,576		—			395,945
Employee compensation and benefits	11,639			58,374		66,898		—			136,911
Advance payments and progress billings	—			117,768		193,165		(24,994		)	285,939
Accrued warranties	—			17,002		50,270		—			67,272
Other accrued liabilities	94,097			54,523		124,244		(7,264		)	265,600
Current liabilities of discontinued operations	—			11,582		—		—			11,582
Total current liabilities	108,870			486,118		612,258		(32,258		)	1,174,988
Long-term obligations	1,269,459			—		82		—			1,269,541
Other liabilities:
Liabilities for postretirement benefits	18,743			866		—		—			19,609
Accrued pension costs	132,448			7,529		4,402		—			144,379
Other non-current liabilities	(12,108		)	7,780		151,800		—			147,472
Total other liabilities	139,083			16,175		156,202		—			311,460
Shareholders’ equity	2,840,997			3,525,890		5,336,599		(8,862,489		)	2,840,997
Total liabilities and shareholders’ equity	$	4,358,409		$	4,028,183	$	6,105,141	$	(8,894,747	)	$	5,596,986

Subsidiary guarantor condensed consolidating statements of cash flows

Condensed Consolidating Statement of Cash Flows Quarter ended January 30, 2015
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash (used) provided by operating activities	$	25,892		$	(7,426	)	$	(36,821	)	$	(18,355	)
Investing Activities:
Property, plant and equipment acquired	(93		)	(5,971		)	(16,194		)	(22,258		)
Proceeds from sale of property, plant and equipment	—			133			623			756
Other investing activities, net	(1,168		)	—			1,309			141
Net cash used by investing activities	(1,261		)	(5,838		)	(14,262		)	(21,361		)
Financing Activities:
Common stock issued	273			—			—			273
Dividends paid	(19,489		)	—			—			(19,489		)
Treasury stock purchased	(50,000		)	—			—			(50,000		)
Other financing activities, net	261			262			(83		)	440
Net cash (used) provided by financing activities	(68,955		)	262			(83		)	(68,776		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(9,373		)	(9,373		)
Decrease in Cash and Cash Equivalents	(44,324		)	(13,002		)	(60,539		)	(117,865		)
Cash and Cash Equivalents at Beginning of Period	54,874			16,429			198,888			270,191
Cash and Cash Equivalents at End of Period	$	10,550		$	3,427		$	138,349		$	152,326

Condensed Consolidating Statement of Cash Flow Quarter ended January 31, 2014
In thousands	Parent Company			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided (used) by operating activities of continuing operations	$	61,014		$	(9,829	)	$	13,654		$	64,839
Net cash provided by operating activities of discontinued operations	—			67			—			67
Net cash provided (used) by operating activities	61,014			(9,762		)	13,654			64,906
Investing Activities:
Property, plant and equipment acquired	(3,544		)	(4,084		)	(19,027		)	(26,655		)
Proceeds from sale of property, plant and equipment	—			1,277			804			2,081
Other investing activities, net	(21		)	—			—			(21		)
Net cash used by investing activities	(3,565		)	(2,807		)	(18,223		)	(24,595		)
Financing Activities:
Common stock issued	1,985			—			—			1,985
Dividends paid	(17,850		)	—			—			(17,850		)
Repayments of term loan	(12,500		)	—			—			(12,500		)
Treasury stock purchased	(122,036		)	—			—			(122,036		)
Other financing activities, net	(284		)	(1,212		)	(47		)	(1,543		)
Net cash used by financing activities	(150,685		)	(1,212		)	(47		)	(151,944		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(3,177		)	(3,177		)
Decrease in Cash and Cash Equivalents	(93,236		)	(13,781		)	(7,793		)	(114,810		)
Cash and Cash Equivalents at Beginning of Period	122,901			20,361			262,447			405,709
Cash and Cash Equivalents at End of Period	$	29,665		$	6,580		$	254,654		$	290,899