XML 40 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Mar. 31, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 120.8 $ 116.3
Trade receivables, less allowance for doubtful accounts of $3.5 as of March 31, 2013 and December 31, 2012 185.9 216.0
Inventories 128.2 114.7
Deferred income taxes - current 49.4 48.5
Prepaid expenses and other 55.1 45.7
Total current assets 539.4 541.2
Property, plant and equipment, net of accumulated depreciation of $228.9 and $226.0 as of March 31, 2013 and December 31, 2012, respectively 100.3 99.5
Deferred income taxes - noncurrent 215.3 215.2
Goodwill 217.8 217.8
Intangible assets, net of accumulated amortization of $31.2 and $29.7 as of March 31, 2013 and December 31, 2012, respectively 67.6 68.8
Other assets 101.5 94.1
Total assets 1,241.9 1,236.6
Current liabilities:    
Short-term borrowings 5.0 5.0
Current portion of long-term debt 0 [1] 21.5 [1]
Accounts payable 112.1 101.9
Accrued expenses and other 220.9 276.3
Redeemable preferred stock 48.5 [2] 48.4 [2]
Total current liabilities 386.5 453.1
Long-term debt 1,227.6 1,145.8
Long-term pension and other post-retirement plan liabilities 228.2 233.7
Other long-term liabilities 54.7 53.3
Commitments and contingencies      
Stockholders' deficiency:    
Additional paid-in capital 1,015.1 1,015.1
Treasury stock, at cost: 754,853 shares of Class A Common Stock as of March 31, 2013 and December 31, 2012 (9.8) (9.8)
Accumulated deficit (1,453.8) (1,446.9)
Accumulated other comprehensive loss (207.1) (208.2)
Total stockholders' deficiency (655.1) (649.3)
Total liabilities and stockholders' deficiency 1,241.9 1,236.6
Class A Common Stock [Member]
   
Stockholders' deficiency:    
Common stock, value 0.5 0.5
Class B Common Stock [Member]
   
Stockholders' deficiency:    
Common stock, value $ 0 $ 0
[1] On February 21, 2013, Products Corporation consummated an amendment (the "2013 Bank Term Loan Amendments") to its third amended and restated term loan agreement dated as of May 19, 2011 (as amended, the "2011 Term Loan Agreement") for its 6.5 year term loan facility due November 19, 2017 (the “2011 Term Loan Facility”), to among other things: (i) reduce the total aggregate principal amount outstanding under the 2011 Term Loan Facility from $788.0 million to $675.0 million; (ii) reduce the minimum Eurodollar Rate on Eurodollar Loans from 1.25% to 1.00%; and (iii) reduce the Applicable Margin on Eurodollar Loans from 3.50% to 3.00%. Refer to “Recent Debt Transactions – 2013 Bank Term Loan Amendments to the 2011 Term Loan Agreement” below for further discussion. Additionally, see Note 10, “Long-Term Debt and Redeemable Preferred Stock,” to the Consolidated Financial Statements in Revlon, Inc.’s 2012 Form 10-K for additional details regarding Products Corporation’s 2011 Term Loan Facility prior to the 2013 Bank Term Loan Amendments.
[2] The Preferred Stock is mandatorily redeemable on October 8, 2013 and is presented as a current liability on the Company’s Consolidated Balance Sheets as of March 31, 2013 and December 31, 2012. See Note 10, “Long-Term Debt and Redeemable Preferred Stock,” to the Consolidated Financial Statements in Revlon, Inc.’s 2012 Form 10-K for certain details regarding Revlon, Inc.’s Preferred Stock.