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FINANCIAL INFORMATION FOR SUBSIDIARY GUARANTORS AND NON-GUARANTORS (Tables)
 6 Months Ended
Mar. 31, 2018
Condensed Financial Information of Parent Subsidiary Guarantors and Subsidiary Non Guarantors [Abstract]  
Condensed Consolidating Statement of Operations
Condensed Consolidating Statement of Operations
for the three months ended March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net sales
$
—

 
$
951.9

 
$
61.4

 
$
—

 
$
1,013.3

Cost of sales
—

 
555.6

 
48.5

 
—

 
604.1

Gross profit
—

 
396.3

 
12.9

 
—

 
409.2

Operating expenses:
 
 
 
 
 
 
 
 
 
Selling, general and administrative
—

 
150.1

 
15.6

 
0.3

 
166.0

Impairment, restructuring and other
—

 
10.2

 
—

 
—

 
10.2

Other (income) expense, net
(0.2
)
 
0.9

 
—

 
—

 
0.7

Income (loss) from operations
0.2

 
235.1

 
(2.7
)
 
(0.3
)
 
232.3

Equity (income) loss in subsidiaries
(158.9
)
 
3.8

 
—

 
155.1

 
—

Equity in (income) loss of unconsolidated affiliates
—

 
—

 
(1.5
)
 
—

 
(1.5
)
Interest expense
20.9

 
13.1

 
1.3

 
(12.7
)
 
22.6

Other non-operating (income) expense, net
(7.9
)
 
(2.5
)
 
6.9

 
12.7

 
9.2

Income (loss) from continuing operations before income taxes
146.1

 
220.7

 
(9.4
)
 
(155.4
)
 
202.0

Income tax expense (benefit) from continuing operations
(3.1
)
 
54.7

 
(2.3
)
 
—

 
49.3

Income (loss) from continuing operations
149.2

 
166.0

 
(7.1
)
 
(155.4
)
 
152.7

Income (loss) from discontinued operations, net of tax
—

 
(3.7
)
 
—

 
—

 
(3.7
)
Net income (loss)
$
149.2

 
$
162.3

 
$
(7.1
)
 
$
(155.4
)
 
$
149.0

Net (income) loss attributable to noncontrolling interest
—

 
—

 
—

 
(0.1
)
 
(0.1
)
Net income (loss) attributable to controlling interest
$
149.2

 
$
162.3

 
$
(7.1
)
 
$
(155.5
)
 
$
148.9

Condensed Consolidating Statement of Operations
for the six months ended March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net sales
$
—

 
$
1,099.5

 
$
135.4

 
$
—

 
$
1,234.9

Cost of sales
—

 
682.6

 
109.1

 
—

 
791.7

Gross profit
—

 
416.9

 
26.3

 
—

 
443.2

Operating expenses:
 
 
 
 
 
 
 
 
 
Selling, general and administrative
—

 
240.5

 
33.0

 
0.7

 
274.2

Impairment, restructuring and other
—

 
10.0

 
—

 
—

 
10.0

Other (income) expense, net
(0.4
)
 
(0.2
)
 
(0.8
)
 
—

 
(1.4
)
Income (loss) from operations
0.4

 
166.6

 
(5.9
)
 
(0.7
)
 
160.4

Equity (income) loss in subsidiaries
(157.8
)
 
5.5

 
—

 
152.3

 
—

Equity in (income) loss of unconsolidated affiliates
—

 
—

 
(2.1
)
 
—

 
(2.1
)
Interest expense
37.8

 
21.8

 
2.2

 
(21.4
)
 
40.4

Other non-operating (income) expense, net
(11.8
)
 
(5.0
)
 
2.1

 
21.4

 
6.7

Income (loss) from continuing operations before income taxes
132.2

 
144.3

 
(8.1
)
 
(153.0
)
 
115.4

Income tax expense (benefit) from continuing operations
3.8

 
(22.4
)
 
1.3

 
—

 
(17.3
)
Income (loss) from continuing operations
128.4

 
166.7

 
(9.4
)
 
(153.0
)
 
132.7

Income (loss) from discontinued operations, net of tax
—

 
(3.9
)
 
(1.0
)
 
—

 
(4.9
)
Net income (loss)
$
128.4

 
$
162.8

 
$
(10.4
)
 
$
(153.0
)
 
$
127.8

Net (income) loss attributable to noncontrolling interest
—

 
—

 
—

 
(0.1
)
 
(0.1
)
Net income (loss) attributable to controlling interest
$
128.4

 
$
162.8

 
$
(10.4
)
 
$
(153.1
)
 
$
127.7

Condensed Consolidating Statement of Operations
for the three months ended April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net sales
$
—

 
$
998.8

 
$
85.8

 
$
—

 
$
1,084.6

Cost of sales
—

 
558.5

 
61.8

 
—

 
620.3

Gross profit
—

 
440.3

 
24.0

 
—

 
464.3

Operating expenses:


 


 


 


 


Selling, general and administrative
—

 
160.3

 
18.1

 
0.4

 
178.8

Impairment, restructuring and other
—

 
1.0

 
—

 
—

 
1.0

Other (income) expense, net
(0.2
)
 
(1.1
)
 
0.5

 
—

 
(0.8
)
Income (loss) from operations
0.2

 
280.1

 
5.4

 
(0.4
)
 
285.3

Equity (income) loss in subsidiaries
(173.8
)
 
(8.3
)
 
—

 
182.1

 
—

Other non-operating (income) loss
(7.5
)
 
—

 
(4.0
)
 
11.5

 
—

Equity in (income) loss of unconsolidated affiliates
—

 
24.0

 
0.1

 
—

 
24.1

Interest expense
20.5

 
11.4

 
1.1

 
(11.5
)
 
21.5

Income (loss) from continuing operations before income taxes
161.0

 
253.0

 
8.2

 
(182.5
)
 
239.7

Income tax expense (benefit) from continuing operations
(4.6
)
 
86.9

 
3.3

 
—

 
85.6

Income (loss) from continuing operations
165.6

 
166.1

 
4.9

 
(182.5
)
 
154.1

Income (loss) from discontinued operations, net of tax
—

 
1.1

 
10.0

 
—

 
11.1

Net income (loss)
$
165.6

 
$
167.2

 
$
14.9

 
$
(182.5
)
 
$
165.2

Net (income) loss attributable to noncontrolling interest
—

 
—

 
—

 
(0.1
)
 
(0.1
)
Net income (loss) attributable to controlling interest
$
165.6

 
$
167.2

 
$
14.9

 
$
(182.6
)
 
$
165.1

Condensed Consolidating Statement of Operations
for the six months ended April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net sales
$
—

 
$
1,144.3

 
$
147.7

 
$
—

 
$
1,292.0

Cost of sales
—

 
685.0

 
105.9

 
—

 
790.9

Gross profit
—

 
459.3

 
41.8

 
—

 
501.1

Operating expenses:
 
 
 
 
 
 
 
 
 
Selling, general and administrative
—

 
247.1

 
35.1

 
0.7

 
282.9

Impairment, restructuring and other
—

 
0.8

 
—

 
—

 
0.8

Other (income) expense, net
(0.4
)
 
(6.4
)
 
0.7

 
—

 
(6.1
)
Income (loss) from operations
0.4

 
217.8

 
6.0

 
(0.7
)
 
223.5

Equity (income) loss in subsidiaries
(115.4
)
 
(7.0
)
 
—

 
122.4

 
—

Other non-operating (income) loss
(11.8
)
 
—

 
(9.9
)
 
21.7

 
—

Equity in (income) loss of unconsolidated affiliates
—

 
37.2

 
0.1

 
—

 
37.3

Interest expense
35.3

 
21.3

 
1.9

 
(21.7
)
 
36.8

Income (loss) from continuing operations before income taxes
92.3

 
166.3

 
13.9

 
(123.1
)
 
149.4

Income tax expense (benefit) from continuing operations
(8.2
)
 
56.4

 
5.2

 
—

 
53.4

Income (loss) from continuing operations
100.5

 
109.9

 
8.7

 
(123.1
)
 
96.0

Income (loss) from discontinued operations, net of tax
—

 
0.1

 
4.2

 
—

 
4.3

Net income (loss)
$
100.5

 
$
110.0

 
$
12.9

 
$
(123.1
)
 
$
100.3

Net (income) loss attributable to noncontrolling interest
—

 
—

 
—

 
(0.5
)
 
(0.5
)
Net income (loss) attributable to controlling interest
$
100.5

 
$
110.0

 
$
12.9

 
$
(123.6
)
 
$
99.8
Condensed Consolidating Statement of Comprehensive Income (Loss)
Condensed Consolidating Statement of Comprehensive Income (Loss)
for the three months ended March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net income (loss)
$
149.2

 
$
162.3

 
$
(7.1
)
 
$
(155.4
)
 
$
149.0

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustment
15.8

 
—

 
15.8

 
(15.8
)
 
15.8

Net change in derivatives
0.9

 
(1.1
)
 
—

 
1.1

 
0.9

Net change in pension and other post-retirement benefits
0.3

 
0.1

 
0.2

 
(0.3
)
 
0.3

Total other comprehensive income (loss)
17.0

 
(1.0
)
 
16.0

 
(15.0
)
 
17.0

Comprehensive income (loss)
$
166.2

 
$
161.3

 
$
8.9

 
$
(170.4
)
 
$
166.0

Condensed Consolidating Statement of Comprehensive Income (Loss)
for the six months ended March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net income (loss)
$
128.4

 
$
162.8

 
$
(10.4
)
 
$
(153.0
)
 
$
127.8

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustment
15.7

 
—

 
15.7

 
(15.7
)
 
15.7

Net change in derivatives
1.6

 
(0.7
)
 
—

 
0.7

 
1.6

Net change in pension and other post-retirement benefits
0.6

 
0.2

 
0.4

 
(0.6
)
 
0.6

Total other comprehensive income (loss)
17.9

 
(0.5
)
 
16.1

 
(15.6
)
 
17.9

Comprehensive income (loss)
$
146.3

 
$
162.3

 
$
5.7

 
$
(168.6
)
 
$
145.7

Condensed Consolidating Statement of Comprehensive Income (Loss)
for the three months ended April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net income (loss)
$
165.6

 
$
167.2

 
$
14.9

 
$
(182.5
)
 
$
165.2

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustment
1.8

 
—

 
1.8

 
(1.8
)
 
1.8

Net change in derivatives
1.1

 
(0.2
)
 
—

 
0.2

 
1.1

Net change in pension and other post-retirement benefits
0.5

 
0.3

 
0.2

 
(0.5
)
 
0.5

Total other comprehensive income (loss)
3.4

 
0.1

 
2.0

 
(2.1
)
 
3.4

Comprehensive income (loss)
$
169.0

 
$
167.3

 
$
16.9

 
$
(184.6
)
 
$
168.6

Condensed Consolidating Statement of Comprehensive Income (Loss)
for the six months ended April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
Net income (loss)
$
100.5

 
$
110.0

 
$
12.9

 
$
(123.1
)
 
$
100.3

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
Net foreign currency translation adjustment
(2.2
)
 
—

 
(2.2
)
 
2.2

 
(2.2
)
Net change in derivatives
4.5

 
0.8

 
—

 
(0.8
)
 
4.5

Net change in pension and other post-retirement benefits
0.9

 
0.3

 
0.6

 
(0.9
)
 
0.9

Total other comprehensive income (loss)
3.2

 
1.1

 
(1.6
)
 
0.5

 
3.2

Comprehensive income (loss)
$
103.7

 
$
111.1

 
$
11.3

 
$
(122.6
)
 
$
103.5
Condensed Consolidating Statement of Cash Flows
Condensed Consolidating Statement of Cash Flows
for the six months ended March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES (a)
$
9.5

 
$
(503.5
)
 
$
25.2

 
$
(14.0
)
 
$
(482.8
)
 
 
 
 
 
 
 
 
 
 
INVESTING ACTIVITIES (a)
 
 
 
 
 
 
 
 
 
Proceeds from sale of long-lived assets
—

 
0.2

 
—

 
—

 
0.2

Post-closing working capital payment related to sale of International Business
—

 
(35.3
)
 
—

 
—

 
(35.3
)
Investments in property, plant and equipment
—

 
(29.8
)
 
(3.3
)
 
—

 
(33.1
)
Investments in loans receivable
—

 
(7.4
)
 
(0.3
)
 
—

 
(7.7
)
Investments in acquired businesses, net of cash acquired
—

 
(40.5
)
 
(103.7
)
 
—

 
(144.2
)
Return of investments from affiliates
554.0

 
—

 
—

 
(554.0
)
 
—

Investing cash flows from (to) affiliates
(250.2
)
 
(70.2
)
 
(80.0
)
 
400.4

 
—

Net cash provided by (used in) investing activities
303.8

 
(183.0
)
 
(187.3
)
 
(153.6
)
 
(220.1
)
 
 
 
 
 
 
 
 
 
 
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Borrowings under revolving and bank lines of credit and term loans
—

 
1,032.9

 
139.7

 
—

 
1,172.6

Repayments under revolving and bank lines of credit and term loans
—

 
(154.8
)
 
(88.6
)
 
—

 
(243.4
)
Dividends paid
(60.3
)
 
(554.0
)
 
(14.0
)
 
568.0

 
(60.3
)
Purchase of Common Shares
(256.8
)
 
—

 
—

 
—

 
(256.8
)
Payments on seller notes
—

 
—

 
(3.0
)
 
—

 
(3.0
)
Cash received from the exercise of stock options
3.8

 
—

 
—

 
—

 
3.8

Financing cash flows from (to) affiliates
—

 
330.2

 
70.2

 
(400.4
)
 
—

Net cash provided by (used in) financing activities
(313.3
)
 
654.3

 
104.3

 
167.6

 
612.9

Effect of exchange rate changes on cash
—

 
—

 
2.5

 
—

 
2.5

Net increase (decrease) in cash and cash equivalents
—

 
(32.2
)
 
(55.3
)
 
—

 
(87.5
)
Cash and cash equivalents at beginning of period
—

 
39.8

 
80.7

 
—

 
120.5

Cash and cash equivalents at end of period
$
—

 
$
7.6

 
$
25.4

 
$
—

 
$
33.0


(a)
Cash received by the Parent from the Guarantors and Non-Guarantors in the form of dividends in the amount of $554.0 million represent return of investments and are included in cash flows from investing activities. Cash received by the Parent from the Guarantors and Non-Guarantors in the form of dividends in the amount of $12.2 million represent return on investments and are included in cash flows from operating activities. Cash received by the Guarantors from the Non-Guarantors in the form of dividends in the amount of $1.8 million represent return on investments and are included in cash flows from operating activities.
Condensed Consolidating Statement of Cash Flows
for the six months ended April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
$
(8.2
)
 
$
(386.6
)
 
$
(94.2
)
 
$
—

 
$
(489.0
)
 
 
 
 
 
 
 
 
 
 
INVESTING ACTIVITIES (a)
 
 
 
 
 
 
 
 
 
Proceeds from sale of long-lived assets
—

 
4.8

 
—

 
—

 
4.8

Investments in property, plant and equipment
—

 
(27.8
)
 
(5.0
)
 
—

 
(32.8
)
Net (investments in) distributions from unconsolidated affiliates
—

 
—

 
(0.2
)
 
—

 
(0.2
)
Investments in acquired businesses, net of cash acquired
—

 
(1.5
)
 
(76.4
)
 
—

 
(77.9
)
Return of investments from affiliates
351.5

 
32.4

 
—

 
(383.9
)
 
—

Investing cash flows from (to) affiliates
(436.1
)
 
(276.9
)
 
—

 
713.0

 
—

Net cash provided by (used in) investing activities
(84.6
)
 
(269.0
)
 
(81.6
)
 
329.1

 
(106.1
)
 
 
 
 
 
 
 
 
 
 
FINANCING ACTIVITIES
 
 
 
 
 
 
 
 
 
Borrowings under revolving and bank lines of credit and term loans
—

 
806.2

 
138.4

 
—

 
944.6

Repayments under revolving and bank lines of credit and term loans
—

 
(232.3
)
 
(162.7
)
 
—

 
(395.0
)
Proceeds from issuance of 5.250% Senior Notes
250.0

 
—

 
—

 
—

 
250.0

Financing and issuance fees
(3.8
)
 
(0.1
)
 
—

 
—

 
(3.9
)
Dividends paid
(59.9
)
 
(351.5
)
 
—

 
351.5

 
(59.9
)
Distribution paid by Aerogrow to noncontrolling interest
—

 
—

 
(40.5
)
 
32.4

 
(8.1
)
Purchase of Common Shares
(99.2
)
 
—

 
—

 
—

 
(99.2
)
Payments on seller notes
—

 
—

 
(13.2
)
 
—

 
(13.2
)
Excess tax benefits from share-based payment arrangements
4.0

 
—

 
—

 
—

 
4.0

Cash received from the exercise of stock options
1.7

 
—

 
—

 
—

 
1.7

Financing cash flows from (to) affiliates
—

 
436.1

 
276.9

 
(713.0
)
 
—

Net cash provided by (used in) financing activities
92.8

 
658.4

 
198.9

 
(329.1
)
 
621.0

Effect of exchange rate changes on cash
—

 
—

 
(1.7
)
 
—

 
(1.7
)
Net increase (decrease) in cash and cash equivalents
—

 
2.8

 
21.4

 
—

 
24.2

Cash and cash equivalents at beginning of period excluding cash classified within assets held for sale
—

 
2.7

 
25.9

 
—

 
28.6

Cash and cash equivalents at beginning of period classified within assets held for sale
—

 
—

 
21.5

 
—

 
21.5

Cash and cash equivalents at beginning of period
—

 
2.7

 
47.4

 
—

 
50.1

Cash and cash equivalents at end of period
$
—

 
$
5.5

 
$
68.8

 
$
—

 
$
74.3


(a)
Cash received by the Parent from the Guarantors and Non-Guarantors in the form of dividends in the amount of $351.5 million represent return of investments and are included in cash flows from investing activities. Cash received by the Guarantors from the Non-Guarantors in the form of distributions in the amount of $32.4 million represent return of investments and are included in cash flows from investing activities.
Condensed Consolidating Balance Sheet
Condensed Consolidating Balance Sheet
As of March 31, 2018
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
7.6

 
$
25.4

 
$
—

 
$
33.0

Accounts receivable, net
—

 
533.0

 
65.0

 
—

 
598.0

Accounts receivable pledged
—

 
333.3

 
—

 
—

 
333.3

Inventories
—

 
495.5

 
101.4

 
—

 
596.9

Prepaid and other current assets
1.7

 
55.0

 
21.4

 
—

 
78.1

Total current assets
1.7

 
1,424.4

 
213.2

 
—

 
1,639.3

Investment in unconsolidated affiliates
—

 
—

 
33.2

 
—

 
33.2

Property, plant and equipment, net
—

 
399.8

 
63.8

 
—

 
463.6

Goodwill
—

 
323.0

 
132.2

 
11.6

 
466.8

Intangible assets, net
—

 
633.9

 
135.6

 
8.1

 
777.6

Other assets
8.7

 
171.1

 
15.2

 
—

 
195.0

Equity investment in subsidiaries
1,287.1

 
—

 
—

 
(1,287.1
)
 
—

Intercompany assets
1,163.1

 
304.0

 
—

 
(1,467.1
)
 
—

Total assets
$
2,460.6

 
$
3,256.2

 
$
593.2

 
$
(2,734.5
)
 
$
3,575.5

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
Current liabilities:
 
 
 
 
 
 
 
 
 
Current portion of debt
$
15.0

 
$
317.7

 
$
18.1

 
$
(15.0
)
 
$
335.8

Accounts payable
—

 
222.6

 
30.9

 
—

 
253.5

Other current liabilities
17.2

 
265.5

 
34.1

 
—

 
316.8

Total current liabilities
32.2

 
805.8

 
83.1

 
(15.0
)
 
906.1

Long-term debt
1,936.6

 
1,166.8

 
128.8

 
(1,294.5
)
 
1,937.7

Distributions in excess of investment in unconsolidated affiliate
—

 
21.9

 
—

 
—

 
21.9

Other liabilities
1.0

 
148.1

 
59.8

 
5.0

 
213.9

Equity investment in subsidiaries
—

 
69.3

 
—

 
(69.3
)
 
—

Intercompany liabilities
—

 
—

 
134.9

 
(134.9
)
 
—

Total liabilities
1,969.8

 
2,211.9

 
406.6

 
(1,508.7
)
 
3,079.6

Total equity—controlling interest
490.8

 
1,044.3

 
186.6

 
(1,230.9
)
 
490.8

Noncontrolling interest
—

 
—

 
—

 
5.1

 
5.1

Total equity
490.8

 
1,044.3

 
186.6

 
(1,225.8
)
 
495.9

Total liabilities and equity
$
2,460.6

 
$
3,256.2

 
$
593.2

 
$
(2,734.5
)
 
$
3,575.5

Condensed Consolidating Balance Sheet
As of April 1, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
5.5

 
$
49.9

 
$
—

 
$
55.4

Accounts receivable, net
—

 
900.8

 
77.5

 
—

 
978.3

Inventories
—

 
500.7

 
95.8

 
—

 
596.5

Assets held for sale
—

 
—

 
331.5

 
—

 
331.5

Prepaid and other current assets
0.7

 
47.4

 
37.6

 
—

 
85.7

Total current assets
0.7

 
1,454.4

 
592.3

 
—

 
2,047.4

Investment in unconsolidated affiliates
—

 
59.1

 
0.8

 
—

 
59.9

Property, plant and equipment, net
—

 
385.8

 
51.3

 
—

 
437.1

Goodwill
—

 
262.9

 
126.1

 
11.6

 
400.6

Intangible assets, net
—

 
554.2

 
163.1

 
9.5

 
726.8

Other assets
10.7

 
107.8

 
2.1

 
(0.4
)
 
120.2

Equity investment in subsidiaries
938.7

 
—

 
—

 
(938.7
)
 
—

Intercompany assets
1,778.4

 
—

 
—

 
(1,778.4
)
 
—

Total assets
$
2,728.5

 
$
2,824.2

 
$
935.7

 
$
(2,696.4
)
 
$
3,792.0

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
Current liabilities:
 
 
 
 
 
 
 
 
 
Current portion of debt
$
15.0

 
$
15.8

 
$
16.3

 
$
(15.0
)
 
$
32.1

Accounts payable
—

 
240.6

 
30.2

 
—

 
270.8

Liabilities held for sale
—

 
—

 
154.7

 
—

 
154.7

Other current liabilities
17.8

 
260.7

 
39.6

 
—

 
318.1

Total current liabilities
32.8

 
517.1

 
240.8

 
(15.0
)
 
775.7

Long-term debt
2,016.1

 
1,288.2

 
114.0

 
(1,375.4
)
 
2,042.9

Other liabilities
0.7

 
224.7

 
51.9

 
4.7

 
282.0

Equity investment in subsidiaries
—

 
31.5

 
—

 
(31.5
)
 
—

Intercompany liabilities
—

 
45.3

 
326.1

 
(371.4
)
 
—

Total liabilities
2,049.6

 
2,106.8

 
732.8

 
(1,788.6
)
 
3,100.6

Total equity—controlling interest
678.9

 
717.4

 
202.9

 
(920.3
)
 
678.9

Noncontrolling interest
—

 
—

 
—

 
12.5

 
12.5

Total equity
678.9

 
717.4

 
202.9

 
(907.8
)
 
691.4

Total liabilities and equity
$
2,728.5

 
$
2,824.2

 
$
935.7

 
$
(2,696.4
)
 
$
3,792.0

Condensed Consolidating Balance Sheet
As of September 30, 2017
(In millions)
(Unaudited)

 
Parent
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations/
Consolidations
 
Consolidated
ASSETS
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
39.8

 
$
80.7

 
$
—

 
$
120.5

Accounts receivable, net
—

 
137.6

 
60.1

 
—

 
197.7

Accounts receivable pledged
—

 
88.9

 
—

 
—

 
88.9

Inventories
—

 
314.0

 
93.5

 
—

 
407.5

Prepaid and other current assets
1.3

 
43.4

 
22.4

 
—

 
67.1

Total current assets
1.3

 
623.7

 
256.7

 
—

 
881.7

Investment in unconsolidated affiliates
—

 
—

 
31.1

 
—

 
31.1

Property, plant and equipment, net
—

 
406.4

 
61.3

 
—

 
467.7

Goodwill
—

 
320.7

 
109.3

 
11.6

 
441.6

Intangible assets, net
—

 
606.3

 
133.8

 
8.8

 
748.9

Other assets
8.1

 
158.3

 
9.6

 
—

 
176.0

Equity investment in subsidiaries
1,112.8

 
—

 
—

 
(1,112.8
)
 
—

Intercompany assets
759.7

 
—

 
—

 
(759.7
)
 
—

Total assets
$
1,881.9

 
$
2,115.4

 
$
601.8

 
$
(1,852.1
)
 
$
2,747.0

 
 
 
 
 
 
 
 
 
 
LIABILITIES AND EQUITY
Current liabilities:
 
 
 
 
 
 
 
 
 
Current portion of debt
$
15.0

 
$
97.8

 
$
45.3

 
$
(15.0
)
 
$
143.1

Accounts payable
—

 
124.9

 
28.2

 
—

 
153.1

Other current liabilities
17.1

 
191.5

 
39.7

 
—

 
248.3

Total current liabilities
32.1

 
414.2

 
113.2

 
(15.0
)
 
544.5

Long-term debt
1,200.7

 
508.6

 
108.0

 
(559.3
)
 
1,258.0

Distributions in excess of investment in unconsolidated affiliate
—

 
21.9

 
—

 
—

 
21.9

Other liabilities
0.3

 
197.4

 
58.2

 
5.0

 
260.9

Equity investment in subsidiaries
—

 
82.6

 
—

 
(82.6
)
 
—

Intercompany liabilities
—

 
17.1

 
152.7

 
(169.8
)
 
—

Total liabilities
1,233.1

 
1,241.8

 
432.1

 
(821.7
)
 
2,085.3

Total equity—controlling interest
648.8

 
873.6

 
169.7

 
(1,043.3
)
 
648.8

Noncontrolling interest
—

 
—

 
—

 
12.9

 
12.9

Total equity
648.8

 
873.6

 
169.7

 
(1,030.4
)
 
661.7

Total liabilities and equity
$
1,881.9

 
$
2,115.4

 
$
601.8

 
$
(1,852.1
)
 
$
2,747.0