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Supplemental Guarantor Condensed Financial Information (Tables)
 3 Months Ended
Apr. 01, 2016
Quarterly Financial Information Disclosure [Abstract]  
Condensed Statements Of Operations
Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended April 1, 2016
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
447.2

 
$
526.8

 
$
—

 
$
974.0

Intercompany
17.1

 
67.0

 
43.1

 
(127.2
)
 
—

 
17.1

 
514.2

 
569.9

 
(127.2
)
 
974.0

Cost of sales
—

 
453.9

 
524.1

 
(110.1
)
 
867.9

Gross profit
17.1

 
60.3

 
45.8

 
(17.1
)
 
106.1

Selling, general and administrative expenses
18.7

 
44.9

 
42.4

 
(17.1
)
 
88.9

Goodwill impairment charge
—

 
—

 
1.6

 
—

 
1.6

Intangible asset impairment charges
—

 
0.3

 
—

 
—

 
0.3

Operating income (loss)
(1.6
)
 
15.1

 
1.8

 
—

 
15.3

Other income (expense)
—

 
0.2

 
(1.6
)
 
—

 
(1.4
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(14.3
)
 
(16.2
)
 
(6.2
)
 
15.2

 
(21.5
)
Interest income
13.8

 
1.2

 
0.5

 
(15.2
)
 
0.3

 
(0.5
)
 
(15.0
)
 
(5.7
)
 
—

 
(21.2
)
Income (loss) before income taxes
(2.1
)
 
0.3

 
(5.5
)
 
—

 
(7.3
)
Income tax (provision) benefit
0.1

 
(0.4
)
 
(0.5
)
 
—

 
(0.8
)
Equity in net earnings of affiliated companies and subsidiaries
(2.7
)
 
(2.6
)
 
—

 
5.4

 
0.1

Net income (loss) from continuing operations
(4.7
)
 
(2.7
)
 
(6.0
)
 
5.4

 
(8.0
)
Net income (loss) from discontinued operations, net of tax
—

 
—

 
3.6

 
—

 
3.6

Net income (loss) including noncontrolling interest
(4.7
)
 
(2.7
)
 
(2.4
)
 
5.4

 
(4.4
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
0.3

 
—

 
0.3

Net income (loss) attributable to Company common shareholders
$
(4.7
)
 
$
(2.7
)
 
$
(2.7
)
 
$
5.4

 
$
(4.7
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(4.7
)
 
$
(2.7
)
 
$
(2.4
)
 
$
5.4

 
$
(4.4
)
Currency translation gain (loss)
31.3

 
31.3

 
26.8

 
(57.9
)
 
31.5

Defined benefit plan adjustments, net of tax
1.3

 
1.3

 
0.3

 
(1.6
)
 
1.3

Comprehensive income (loss), net of tax
27.9

 
29.9

 
24.7

 
(54.1
)
 
28.4

Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
0.5

 
—

 
0.5

Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
27.9

 
$
29.9

 
$
24.2

 
$
(54.1
)
 
$
27.9

Condensed Statements of Operations and Comprehensive Income (Loss) Information
Three Fiscal Months Ended April 3, 2015
 
Parent
 
Guarantor Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net sales:
 
 
 
 
 
 
 
 
 
Customers
$
—

 
$
540.4

 
$
630.7

 
$
—

 
$
1,171.1

Intercompany
21.1

 
62.7

 
47.3

 
(131.1
)
 
—

 
21.1

 
603.1

 
678.0

 
(131.1
)
 
1,171.1

Cost of sales
—

 
527.0

 
640.4

 
(110.0
)
 
1,057.4

Gross profit
21.1

 
76.1

 
37.6

 
(21.1
)
 
113.7

Selling, general and administrative expenses
20.5

 
47.2

 
50.9

 
(21.1
)
 
97.5

Operating income (loss)
0.6

 
28.9

 
(13.3
)
 
—

 
16.2

Other income (expense)
0.7

 
(1.5
)
 
(25.0
)
 
—

 
(25.8
)
Interest income (expense):
 
 
 
 
 
 
 
 
 
Interest expense
(15.4
)
 
(17.2
)
 
(9.1
)
 
17.3

 
(24.4
)
Interest income
14.8

 
2.4

 
0.6

 
(17.3
)
 
0.5

 
(0.6
)
 
(14.8
)
 
(8.5
)
 
—

 
(23.9
)
Income (loss) before income taxes
0.7

 
12.6

 
(46.8
)
 
—

 
(33.5
)
Income tax (provision) benefit
(0.6
)
 
(5.6
)
 
4.8

 
—

 
(1.4
)
Equity in net earnings of affiliated companies and subsidiaries
(38.2
)
 
(45.2
)
 
0.1

 
83.5

 
0.2

Net income (loss) from continuing operations
(38.1
)
 
(38.2
)
 
(41.9
)
 
83.5

 
(34.7
)
Net income (loss) from discontinued operations, net of tax
—

 
—

 
(6.2
)
 
—

 
(6.2
)
Net income (loss) including noncontrolling interest
(38.1
)
 
(38.2
)
 
(48.1
)
 
83.5

 
(40.9
)
Less: net income (loss) attributable to noncontrolling interest
—

 
—

 
(2.8
)
 
—

 
(2.8
)
Net income (loss) attributable to Company common shareholders
$
(38.1
)
 
$
(38.2
)
 
$
(45.3
)
 
$
83.5

 
$
(38.1
)
Comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Net income (loss)
$
(38.1
)
 
$
(38.2
)
 
$
(48.1
)
 
$
83.5

 
$
(40.9
)
Currency translation gain (loss)
(41.0
)
 
(41.0
)
 
(19.2
)
 
56.6

 
(44.6
)
Defined benefit plan adjustments, net of tax
3.0

 
3.0

 
1.8

 
(4.8
)
 
3.0

Comprehensive income (loss), net of tax
(76.1
)
 
(76.2
)
 
(65.5
)
 
135.3

 
(82.5
)
Comprehensive income (loss) attributable to noncontrolling interest, net of tax
—

 
—

 
(6.4
)
 
—

 
(6.4
)
Comprehensive income (loss) attributable to Company common shareholders, net of tax
$
(76.1
)
 
$
(76.2
)
 
$
(59.1
)
 
$
135.3

 
$
(76.1
)
Condensed Balance Sheets
Condensed Balance Sheets Information
April 1, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
2.5

 
$
84.0

 
$
—

 
$
86.5

Receivables, net of allowances
—

 
239.6

 
559.1

 
—

 
798.7

Inventories
—

 
356.3

 
471.7

 
—

 
828.0

Prepaid expenses and other
—

 
21.9

 
56.3

 
—

 
78.2

Current assets of discontinued operations
—

 
—

 
92.7

 
—

 
92.7

Total current assets
—

 
620.3

 
1,263.8

 
—

 
1,884.1

Property, plant and equipment, net
0.4

 
190.6

 
332.9

 
—

 
523.9

Deferred income taxes
—

 
55.0

 
20.7

 
(55.0
)
 
20.7

Intercompany accounts
1,102.7

 
110.4

 
79.2

 
(1,292.3
)
 
—

Investment in subsidiaries
102.3

 
707.3

 
—

 
(809.6
)
 
—

Goodwill
—

 
13.8

 
6.8

 
—

 
20.6

Intangible assets, net
—

 
8.7

 
26.3

 
—

 
35.0

Unconsolidated affiliated companies
—

 
8.5

 
—

 
—

 
8.5

Other non-current assets
—

 
18.3

 
19.7

 
—

 
38.0

Non-current assets of discontinued operations
—

 
—

 
56.6

 
—

 
56.6

Total assets
$
1,205.4

 
$
1,732.9

 
$
1,806.0

 
$
(2,156.9
)
 
$
2,587.4

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
128.4

 
$
341.7

 
$
—

 
$
470.1

Accrued liabilities
7.3

 
105.6

 
220.2

 
—

 
333.1

Current portion of long-term debt
—

 
—

 
172.8

 
—

 
172.8

Current liabilities of discontinued operations
—

 
—

 
25.1

 
—

 
25.1

Total current liabilities
7.3

 
234.0

 
759.8

 
—

 
1,001.1

Long-term debt
769.5

 
146.0

 
58.3

 
—

 
973.8

Deferred income taxes
182.3

 
—

 
21.6

 
(55.0
)
 
148.9

Intercompany accounts
—

 
1,181.2

 
111.1

 
(1,292.3
)
 
—

Other liabilities
0.1

 
69.4

 
112.9

 
—

 
182.4

Non-current liabilities of discontinued operations
—

 
—

 
1.4

 
—

 
1.4

Total liabilities
959.2

 
1,630.6

 
1,065.1

 
(1,347.3
)
 
2,307.6

Redeemable noncontrolling interest
—

 
—

 
18.2

 
—

 
18.2

Total Company shareholders’ equity
246.2

 
102.3

 
707.3

 
(809.6
)
 
246.2

Noncontrolling interest
—

 
—

 
15.4

 
—

 
15.4

Total liabilities, redeemable noncontrolling interest and equity
$
1,205.4

 
$
1,732.9

 
$
1,806.0

 
$
(2,156.9
)
 
$
2,587.4







Condensed Balance Sheets Information
December 31, 2015
 
Parent
 
Guarantor
Subsidiaries
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Total
Assets
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
0.8

 
$
78.9

 
$
—

 
$
79.7

Receivables, net of allowances
—

 
214.0

 
472.9

 
—

 
686.9

Inventories
—

 
367.7

 
440.1

 
—

 
807.8

Prepaid expenses and other
—

 
18.5

 
43.6

 
—

 
62.1

Current assets of discontinued operations
—

 
—

 
103.9

 
—

 
103.9

Total current assets
—

 
601.0

 
1,139.4

 
—

 
1,740.4

Property, plant and equipment, net
0.4

 
192.6

 
330.5

 
—

 
523.5

Deferred income taxes
—

 
56.2

 
20.6

 
(56.2
)
 
20.6

Intercompany accounts
1,114.5

 
102.8

 
66.4

 
(1,283.7
)
 
—

Investment in subsidiaries
72.4

 
672.8

 
—

 
(745.2
)
 
—

Goodwill
—

 
13.8

 
8.4

 
—

 
22.2

Intangible assets, net
—

 
9.5

 
27.1

 
—

 
36.6

Unconsolidated affiliated companies
—

 
8.4

 
—

 
—

 
8.4

Other non-current assets
—

 
27.1

 
18.9

 
—

 
46.0

Non-current assets of discontinued operations
—

 
—

 
56.9

 
—

 
56.9

Total assets
$
1,187.3

 
$
1,684.2

 
$
1,668.2

 
$
(2,085.1
)
 
$
2,454.6

Liabilities and Total Equity
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
Accounts payable
$
—

 
$
103.5

 
$
307.9

 
$
—

 
$
411.4

Accrued liabilities
11.2

 
124.0

 
196.2

 
—

 
331.4

Current portion of long-term debt
—

 
—

 
154.9

 
—

 
154.9

Current liabilities of discontinued operations
—

 
—

 
51.6

 
—

 
51.6

Total current liabilities
11.2

 
227.5

 
710.6

 
—

 
949.3

Long-term debt
768.6

 
127.5

 
15.5

 
—

 
911.6

Deferred income taxes
179.5

 
—

 
22.0

 
(56.2
)
 
145.3

Intercompany accounts
—

 
1,180.1

 
103.6

 
(1,283.7
)
 
—

Other liabilities
—

 
76.7

 
108.9

 
—

 
185.6

Non-current liabilities of discontinued operations
—

 
—

 
1.7

 
—

 
1.7

Total liabilities
959.3

 
1,611.8

 
962.3

 
(1,339.9
)
 
2,193.5

Redeemable noncontrolling interest
—

 
—

 
18.2

 
—

 
18.2

Total Company shareholders’ equity
228.0

 
72.4

 
672.8

 
(745.2
)
 
228.0

Noncontrolling interest
—

 
—

 
14.9

 
—

 
14.9

Total liabilities, redeemable noncontrolling interest and equity
$
1,187.3

 
$
1,684.2

 
$
1,668.2

 
$
(2,085.1
)
 
$
2,454.6
Condensed Statements Of Cash Flows
Condensed Statements of Cash Flows Information
Three Fiscal Months Ended April 1, 2016
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities from continuing operations
$
(5.0
)
 
$
2.6

 
$
(40.1
)
 
$
—

 
$
(42.5
)
Net cash flows of operating activities from discontinued operations
—

 
—

 
1.9

 
—

 
1.9

Net cash flows of operating activities
(5.0
)
 
2.6

 
(38.2
)
 
—

 
(40.6
)
Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(6.6
)
 
(7.7
)
 
—

 
(14.3
)
Proceeds from properties sold
—

 
0.1

 
0.1

 
—

 
0.2

Other
—

 
(1.3
)
 
1.3

 
—

 
—

Net cash flows of investing activities from continuing operations
—

 
(7.8
)
 
(6.3
)
 
—

 
(14.1
)
Net cash flows of investing activities from discontinued operations
—

 
—

 
(0.1
)
 
—

 
(0.1
)
Net cash flows of investing activities
—

 
(7.8
)
 
(6.4
)
 
—

 
(14.2
)
Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(8.9
)
 
—

 
—

 
—

 
(8.9
)
Intercompany accounts
13.9

 
(16.3
)
 
2.4

 
—

 
—

Proceeds from debt
—

 
259.4

 
127.3

 
—

 
386.7

Repayments of debt
—

 
(241.0
)
 
(75.9
)
 
—

 
(316.9
)
Net cash flows of financing activities from continuing operations
5.0

 
2.1

 
53.8

 
—

 
60.9

Net cash flows of financing activities from discontinued operations
—

 
—

 
(1.8
)
 
—

 
(1.8
)
Net cash flows of financing activities
5.0

 
2.1

 
52.0

 
—

 
59.1

Effect of exchange rate changes on cash and cash equivalents
—

 
4.8

 
(1.2
)
 
—

 
3.6

Increase (decrease) in cash and cash equivalents
—

 
1.7

 
6.2

 
—

 
7.9

Cash and cash equivalents – beginning of period
—

 
0.8

 
111.6

 
—

 
112.4

Cash and cash equivalents – end of period
$
—

 
$
2.5

 
$
117.8

 
$
—

 
$
120.3

Less cash and cash equivalents of discontinued operations
—

 
—

 
33.8

 
—

 
33.8

Cash and cash equivalents of continuing operations – end of period
$
—

 
$
2.5

 
$
84.0

 
$
—

 
$
86.5




Condensed Statements of Cash Flows Information
Three Fiscal Months Ended April 3, 2015
 
Parent
 
Guarantor
Subsidiaries
 
Non-Guarantor Subsidiaries
 
Eliminations
 
Total
Net cash flows of operating activities from continuing operations
$
(1.9
)
 
$
92.5

 
$
17.0

 
$
(0.5
)
 
$
107.1

Net cash flows of operating activities from discontinued operations
—

 
—

 
(9.1
)
 
—

 
(9.1
)
Net cash flows of operating activities
(1.9
)
 
92.5

 
7.9

 
(0.5
)
 
98.0

Cash flows of investing activities:
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(5.8
)
 
(12.4
)
 
—

 
(18.2
)
Proceeds from properties sold
—

 
—

 
0.2

 
—

 
0.2

Intercompany accounts
—

 
8.0

 
—

 
(8.0
)
 
—

Other
—

 
—

 
0.2

 
—

 
0.2

Net cash flows of investing activities from continuing operations
—

 
2.2

 
(12.0
)
 
(8.0
)
 
(17.8
)
Net cash flows of investing activities from discontinued operations
—

 
—

 
18.7

 
—

 
18.7

Net cash flows of investing activities
—

 
2.2

 
6.7

 
(8.0
)
 
0.9

Cash flows of financing activities:
 
 
 
 
 
 
 
 
 
Dividends paid to shareholders
(8.9
)
 
—

 
—

 
—

 
(8.9
)
Intercompany accounts
135.7

 
(134.0
)
 
(10.2
)
 
8.5

 
—

Proceeds from debt
—

 
754.7

 
248.8

 
—

 
1,003.5

Repayments of debt
(125.0
)
 
(689.1
)
 
(286.2
)
 
—

 
(1,100.3
)
Dividends paid to noncontrolling interest
—

 
—

 
1.5

 
—

 
1.5

Proceeds from exercise of stock options
0.1

 
—

 
—

 
—

 
0.1

Net cash flows of financing activities from continuing operations
1.9

 
(68.4
)
 
(46.1
)
 
8.5

 
(104.1
)
Net cash flows of financing activities from discontinued operations
—

 
—

 
(1.0
)
 
—

 
(1.0
)
Net cash flows of financing activities
1.9

 
(68.4
)
 
(47.1
)
 
8.5

 
(105.1
)
Effect of exchange rate changes on cash and cash equivalents
—

 
(24.8
)
 
(7.2
)
 
—

 
(32.0
)
Increase (decrease) in cash and cash equivalents
—

 
1.5

 
(39.7
)
 
—

 
(38.2
)
Cash and cash equivalents - beginning of period
—

 
1.2

 
204.6

 
 
 
205.8

Cash and cash equivalents - end of period
$
—

 
$
2.7

 
$
164.9

 
$
—

 
$
167.6

Less cash and cash equivalents of discontinued operations
—

 
—

 
70.2

 
—

 
70.2

Cash and cash equivalents of continuing operations – end of period
$
—

 
$
2.7

 
$
94.7

 
$
—

 
$
97.4
Intercompany Cash And Non-Cash Transactions
A summary of cash and non-cash transactions of the Parent Company’s intercompany account is provided below for the three fiscal months ended April 1, 2016 and the twelve months ended December 31, 2015:
(in millions)
April 1, 2016
 
December 31, 2015
Beginning Balance
$
1,114.5

 
$
1,280.8

Non-cash transactions
 
 
 
Deferred tax
—

 
(19.9
)
Equity based awards
2.1

 
11.7

Foreign currency and other
—

 
0.2

Cash transactions
(13.9
)
 
(158.3
)
Ending Balance
$
1,102.7

 
$
1,114.5
Parent Company Long-Term Financing Arrangements
At April 1, 2016 and December 31, 2015, the Parent Company was party to the following long-term financing arrangements:
(in millions)
April 1, 2016
 
December 31, 2015
5.75% Senior Notes due 2022
$
600.0

 
$
600.0

Subordinated Convertible Notes due 2029
429.5

 
429.5

Debt discount
(257.3
)
 
(257.8
)
Debt issuance costs
(11.7
)
 
(12.1
)
Other
9.0

 
9.0

Total Parent Company debt
769.5

 
768.6

Less current maturities
—

 
—

Parent Company Long-term debt
$
769.5

 
$
768.6
Parent Company Debt Maturities
(in millions)
Q1 2017
 
Q1 2018
 
Q1 2019
 
Q1 2020
 
Q1 2021
Debt maturities twelve month period ending
$
—

 
$
—

 
$
—

 
$
—

 
$
—