Supplemental Subsidiary Guarantors (Tables) - Supplemental Subsidiary Guarantors

9 Months Ended

Jul. 31, 2015

Condensed Financial Statements, Captions [Line Items]

Subsidiary guarantor condensed consolidating statements of income

Condensed Consolidating Statement of Income Quarter ended July 31, 2015
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	430,840		$	611,006		$	(249,663	)	$	792,183
Cost of sales	—			320,352			448,222			(193,736		)	574,838
Product development, selling and administrative expenses	12,499			63,209			69,507			—			145,215
Other (income) expense	—			3,771			(5,005		)	—			(1,234		)
Operating income (loss)	(12,499		)	43,508			98,282			(55,927		)	73,364
Intercompany items	16,750			(30,145		)	(6,865		)	20,260			—
Interest (expense) income, net	(16,068		)	1,907			485			—			(13,676		)
Income (loss) before income taxes and equity in income of subsidiaries	(11,817		)	15,270			91,902			(35,667		)	59,688
Provision (benefit) for income taxes	(8,654		)	997			22,460			—			14,803
Equity in income of subsidiaries	48,048			21,602			—			(69,650		)	—
Net income	$	44,885		$	35,875		$	69,442		$	(105,317	)	$	44,885
Comprehensive income	$	13,863		$	37,066		$	32,532		$	(69,598	)	$	13,863

Condensed Consolidating Statement of Income Quarter ended August 1, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	520,247		$	564,148		$	(208,734	)	$	875,661
Cost of sales	—			378,457			414,784			(169,512		)	623,729
Product development, selling and administrative expenses	7,017			49,337			80,905			—			137,259
Other (income) expense	—			2,350			(6,968		)	—			(4,618		)
Operating income (loss)	(7,017		)	90,103			75,427			(39,222		)	119,291
Intercompany items	15,641			(14,897		)	(7,048		)	6,304			—
Interest (expense) income, net	(15,614		)	1,055			(338		)	—			(14,897		)
Income (loss) before income taxes and equity in income of subsidiaries	(6,990		)	76,261			68,041			(32,918		)	104,394
Provision (benefit) for income taxes	(5,923		)	32,720			6,329			(21		)	33,105
Equity in income of subsidiaries	72,356			25,017			—			(97,373		)	—
Net income	$	71,289		$	68,558		$	61,712		$	(130,270	)	$	71,289
Comprehensive income	$	81,683		$	68,652		$	81,173		$	(149,825	)	$	81,683

Condensed Consolidating Statement of Income Nine Months ended July 31, 2015
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,400,258		$	1,616,442		$	(710,121	)	$	2,306,579
Cost of sales	—			1,026,939			1,191,499			(543,451		)	1,674,987
Product development, selling and administrative expenses	36,503			185,949			222,119			—			444,571
Other (income) expense	68			12,872			(18,287		)	—			(5,347		)
Operating income (loss)	(36,571		)	174,498			221,111			(166,670		)	192,368
Intercompany items	50,106			(75,362		)	(35,306		)	60,562			—
Interest (expense) income, net	(47,449		)	5,242			2,302			—			(39,905		)
Income (loss) before income taxes and equity in income of subsidiaries	(33,914		)	104,378			188,107			(106,108		)	152,463
Provision (benefit) for income taxes	(2,739		)	25,502			22,508			—			45,271
Equity in income of subsidiaries	138,367			18,818			—			(157,185		)	—
Net income	$	107,192		$	97,694		$	165,599		$	(263,293	)	$	107,192
Comprehensive (loss) income	$	(10,567	)	$	98,570		$	32,065		$	(130,635	)	$	(10,567	)

Condensed Consolidating Statement of Income Nine Months ended August 1, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,495,659		$	1,803,084		$	(654,040	)	$	2,644,703
Cost of sales	—			1,108,173			1,308,371			(537,045		)	1,879,499
Product development, selling and administrative expenses	35,840			183,363			225,619			—			444,822
Other (income) expense	(473		)	8,890			(18,313		)	—			(9,896		)
Operating income (loss)	(35,367		)	195,233			287,407			(116,995		)	330,278
Intercompany items	48,422			(60,625		)	(19,053		)	31,256			—
Interest (expense) income, net	(47,495		)	4,595			335			—			(42,565		)
Income (loss) before income taxes and equity in income of subsidiaries	(34,440		)	139,203			268,689			(85,739		)	287,713
Provision (benefit) for income taxes	(15,855		)	89,828			19,639			—			93,612
Equity in income of subsidiaries	212,686			105,984			—			(318,670		)	—
Net income	$	194,101		$	155,359		$	249,050		$	(404,409	)	$	194,101
Comprehensive income	$	187,272		$	156,753		$	243,127		$	(399,880	)	$	187,272

Subsidiary guarantor condensed consolidating balance sheets

Condensed Consolidating Balance Sheet As of July 31, 2015
In thousands	Parent Company		Supplemental Subsidiary Guarantors		Supplemental Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	25,138	$	1,972	$	113,790	$	—		$	140,900
Accounts receivable, net	—		245,241		600,477		(16,182		)	829,536
Inventories	—		561,454		721,493		(98,605		)	1,184,342
Other current assets	72,794		13,864		90,561		—			177,219
Total current assets	97,932		822,531		1,526,321		(114,787		)	2,331,997
Property, plant and equipment, net	22,152		328,549		529,465		(5,016		)	875,150
Other assets:
Other intangible assets, net	—		214,724		117,745		—			332,469
Goodwill	—		453,401		1,100,776		—			1,554,177
Deferred income taxes	2,841		—		71,691		—			74,532
Other non-current assets	4,095,114		1,978,193		2,569,176		(8,478,679		)	163,804
Total other assets	4,097,955		2,646,318		3,859,388		(8,478,679		)	2,124,982
Total assets	$	4,218,039	$	3,797,398	$	5,915,174	$	(8,598,482	)	$	5,332,129
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings, including current portion of long-term obligations	$	14,063	$	—	$	108	$	—		$	14,171
Trade accounts payable	2,273		139,552		189,013		—			330,838
Employee compensation and benefits	4,976		31,460		46,465		—			82,901
Advance payments and progress billings	—		100,564		212,375		(15,217		)	297,722
Accrued warranties	—		21,869		34,933		—			56,802
Other accrued liabilities	58,613		66,386		100,545		(13,104		)	212,440
Current liabilities of discontinued operations	—		11,582		—		—			11,582
Total current liabilities	79,925		371,413		583,439		(28,321		)	1,006,456
Long-term obligations	1,256,025		—		7		—			1,256,032
Other liabilities:
Liabilities for postretirement benefits	17,849		872		—		—			18,721
Accrued pension costs	117,596		8,659		9,025		—			135,280
Other non-current liabilities	2,377		7,343		161,653		—			171,373
Total other liabilities	137,822		16,874		170,678		—			325,374
Shareholders’ equity	2,744,267		3,409,111		5,161,050		(8,570,161		)	2,744,267
Total liabilities and shareholders’ equity	$	4,218,039	$	3,797,398	$	5,915,174	$	(8,598,482	)	$	5,332,129

Condensed Consolidating Balance Sheet As of October 31, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors		Supplemental Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	54,874		$	16,429	$	198,888	$	—		$	270,191
Accounts receivable, net	—			391,672		684,299		(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			887,815		1,719,780		(132,055		)	2,618,359
Property, plant and equipment, net	23,660			345,117		527,286		(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			2,106,760		2,640,582		(8,759,069		)	180,044
Total other assets	4,191,930			2,789,084		3,864,242		(8,759,069		)	2,086,187
Total assets	$	4,358,409		$	4,022,016	$	6,111,308	$	(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			214,603		178,208		—			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			485,486		612,890		(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			3,520,355		5,342,134		(8,862,489		)	2,840,997
Total liabilities and shareholders’ equity	$	4,358,409		$	4,022,016	$	6,111,308	$	(8,894,747	)	$	5,596,986

Subsidiary guarantor condensed consolidating statements of cash flows

Condensed Consolidating Statement of Cash Flows Nine Months ended July 31, 2015
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided by operating activities	$	76,032		$	14,392		$	78,290		$	168,714
Investing Activities:
Acquisition of businesses, net of cash acquired	—			—			(114,353		)	(114,353		)
Property, plant and equipment acquired	(141		)	(17,429		)	(40,251		)	(57,821		)
Proceeds from sale of property, plant and equipment	942			214			2,915			4,071
Other investing activities, net	(1,227		)	—			1,852			625
Net cash used by investing activities	(426		)	(17,215		)	(149,837		)	(167,478		)
Financing Activities:
Common stock issued	2,853			—			—			2,853
Dividends paid	(58,456		)	—			—			(58,456		)
Treasury stock purchased	(50,000		)	—			—			(50,000		)
Repayments of short-term debt				(11,634		)	89			(11,545		)
Other financing activities, net	261			—			—			261
Net cash (used) provided by financing activities	(105,342		)	(11,634		)	89			(116,887		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(13,640		)	(13,640		)
(Decrease) Increase in Cash and Cash Equivalents	(29,736		)	(14,457		)	(85,098		)	(129,291		)
Cash and Cash Equivalents at Beginning of Period	54,874			16,429			198,888			270,191
Cash and Cash Equivalents at End of Period	$	25,138		$	1,972		$	113,790		$	140,900

Condensed Consolidating Statement of Cash Flows Nine Months ended August 1, 2014
In thousands	Parent Company			Supplemental Subsidiary Guarantors			Supplemental Non-Guarantor Subsidiaries			Consolidated
Operating Activities:
Net cash provided (used) by operating activities of continuing operations	$	194,291		$	(4,062	)	$	108,092		$	298,321
Net cash used by operating activities of discontinued operations	—			(103		)	—			(103		)
Net cash provided (used) by operating activities	194,291			(4,165		)	108,092			298,218
Investing Activities:
Acquisition of businesses, net of cash acquired	—			—			(47,058		)	(47,058		)
Property, plant and equipment acquired	(3,969		)	(15,317		)	(49,782		)	(69,068		)
Proceeds from sale of property, plant and equipment	—			7,124			1,758			8,882
Other investing activities, net	(82		)	232			(239		)	(89		)
Net cash used by investing activities	(4,051		)	(7,961		)	(95,321		)	(107,333		)
Financing Activities:
Common stock issued	10,189			—			—			10,189
Dividends paid	(55,334		)	—			—			(55,334		)
Repayments of term loan	(37,500		)	—			—			(37,500		)
Treasury stock purchased	(194,336		)	—			—			(194,336		)
Repayments of short term debt										—
Other financing activities, net	(1,099		)	(1,212		)	(8,008		)	(10,319		)
Net cash used by financing activities	(278,080		)	(1,212		)	(8,008		)	(287,300		)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	—			—			(1,252		)	(1,252		)
(Decrease) Increase in Cash and Cash Equivalents	(87,840		)	(13,338		)	3,511			(97,667		)
Cash and Cash Equivalents at Beginning of Period	122,901			20,361			262,447			405,709
Cash and Cash Equivalents at End of Period	$	35,061		$	7,023		$	265,958		$	308,042