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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Income Statement [Abstract]                      
Net sales $ 491.0 $ 333.1 $ 344.7 $ 325.9 $ 383.5 $ 341.2 $ 350.2 $ 321.5 $ 1,494.7 $ 1,396.4 $ 1,347.5
Cost of sales                 545.1 493.8 481.2
Gross profit 304.0 212.0 222.1 211.5 247.6 216.8 229.0 209.2 949.6 902.6 866.3
Selling, general and administrative expenses                 723.6 663.3 652.8
Acquisition and integration costs                   0 0
Restructuring charges and other, net                 3.5 20.5 0
Operating income                 197.1 218.8 213.5
Other expenses, net:                      
Amortization of debt issuance costs                 3.5 3.4 3.7
Loss on early extinguishment of debt       27.9         29.7 0 11.2
Other expenses, net                 116.5 92.7 112.3
Income from continuing operations before income taxes                 80.6 126.1 101.2
Provision for income taxes                 48.6 44.8 35.4
Income from continuing operations, net of taxes (7.1) [1],[2],[3] 11.5 [1],[2],[3] 29.5 [1],[2],[3] (1.9) [1],[2],[3] 52.8 [4],[5] (6.3) [4],[5] 23.0 [4],[5] 11.8 [4],[5] 32.0 81.3 65.8
Loss from discontinued operations, net of taxes (24.1) [2] (1.5) [2] (2.4) [2] (2.4) [2] (2.1) (3.7) (2.5) (1.8) (30.4) (10.1) (1.8)
Net income (31.2) [1],[2],[3] 10.0 [1],[2],[3] 27.1 [1],[2],[3] (4.3) [1],[2],[3] 50.7 [4],[5] (10.0) [4],[5] 20.5 [4],[5] 10.0 [4],[5] 1.6 71.2 64.0
Other comprehensive income (loss):                      
Currency translation adjustment, net of tax                 (4.1) [6] (1.5) [6] (8.3) [6]
Amortization of pension related costs, net of tax                 7.7 [7],[8],[9] 9.4 [10],[7],[8],[9] 3.6 [7],[8],[9]
Pension re-measurement, net of tax                 53.3 [11] (15.4) [11] (45.9) [11]
Pension curtailment gain                 0 0.2 [12] 0
Revaluation of derivative financial instruments, net of tax(d)                 1.5 [13],[14] 0 [13] 0 [13]
Other comprehensive income (loss)                 58.4 (7.3) (50.6)
Total comprehensive income                 $ 60.0 $ 63.9 $ 13.4
[1] (Loss) income from continuing operations and net (loss) income for the first quarter of 2013 and the second quarter of 2013 were favorably impacted by an $8.3 million and an $18.1 million, respectively, gain from insurance proceeds due to the settlement of the Company's claims for the loss of inventory, business interruption and property losses as a result of the fire at the Company's Venezuela facility. (See Note 1, “Description of Business and Summary of Significant Accounting Policies - Other Events - Fire at Revlon Venezuela Facility”).
[2] Loss from continuing operations and net loss for the fourth quarter of 2013 were unfavorably impacted by $19.1 million of acquisition and integration costs related to the Colomer Acquisition. Additionally, the Company incurred $21.4 million of restructuring and related charges in the fourth quarter of 2013 related to the December 2013 Program, of which $20.0 million relates to the Company's exit of its business operations in China and is recorded in loss from discontinued operations, net of taxes.
[3] Loss from continuing operations and net loss for the first quarter of 2013 were unfavorably impacted by a $27.9 million aggregate loss on early extinguishment of debt due to the 2013 Senior Notes Refinancing and the February 2013 Term Loan Amendments. (See Note 11, “Long-Term Debt”).
[4] Loss from continuing operations and net loss for the third quarter of 2012 were unfavorably impacted by $24.1 million in restructuring and related charges recorded as a result of the September 2012 Program. (See Note 3, “Restructuring Charges” ).
[5] Income from continuing operations and net income for the fourth quarter of 2012 were favorably impacted by an increase in net income driven by a non-cash benefit of $15.8 million related to the reduction of the Company’s deferred tax valuation allowance on its net deferred tax assets for certain jurisdictions in the U.S. at December 31, 2012, as a result of the Company’s improved earnings trends and cumulative taxable income in those jurisdictions, which is reflected in the provision for income taxes (See Note 14, “Income Taxes”).
[6] Net of tax expense of $3.3 million, $1.0 million and $1.8 million for each year ended December 31, 2013, 2012 and 2011, respectively.
[7] This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 15, “Savings Plan, Pension and Post-Retirement Benefits,” for additional information regarding net periodic benefit (income) costs.
[8] Amounts represent the change in Accumulated Other Comprehensive Loss as a result of the amortization of unrecognized prior service costs and actuarial losses (gains) arising during each year related to the Company’s pension and other post-retirement plans. See Note 15, “Savings Plan, Pension and Post-retirement Benefits,” for further discussion of the Company’s pension and other post-retirement plans.
[9] Net of tax benefit of $(1.2) million, $(1.0) million and $(2.0) million for each year ended December 31, 2013. 2012 and 2011, respectively.
[10] Included in this amount is a $2.0 million reclassification adjustment recorded in the first quarter of 2012 related to deferred taxes on the amortization of actuarial losses.
[11] Net of tax (benefit) expense of $(33.5) million, $7.2 million and $30.1 million for each year ended December 31, 2013, 2012 and 2011, respectively.
[12] As a result of the September 2012 Program, the Company recognized a curtailment gain of $1.7 million, partially offset by $0.1 million of accumulated actuarial losses and $0.1 million of prior service costs previously reported within Accumulated Other Comprehensive Loss, for a net gain of $1.5 million, which was recorded within restructuring charges for the year ended December 31, 2012. See Note 15, “Savings Plan, Pension and Post-retirement Benefits,” for further discussion of the Company’s pension and other post-retirement plans.
[13] Net of tax benefit of $(1.0) million for the year ended December 31, 2013.
[14] For the period ended December 31, 2013, the 2013 Interest Rate Swap was deemed effective and therefore, the changes in fair value related to the 2013 Interest Rate Swap are recorded in Other Comprehensive Income. See Note 13, "Financial Instruments" for further discussion of the 2013 Interest Rate Swap.