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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Income Statement [Abstract]                      
Net sales $ 501.0us-gaap_SalesRevenueNet $ 472.3us-gaap_SalesRevenueNet $ 497.9us-gaap_SalesRevenueNet $ 469.8us-gaap_SalesRevenueNet $ 491.0us-gaap_SalesRevenueNet $ 333.1us-gaap_SalesRevenueNet $ 344.7us-gaap_SalesRevenueNet $ 325.9us-gaap_SalesRevenueNet $ 1,941.0us-gaap_SalesRevenueNet $ 1,494.7us-gaap_SalesRevenueNet $ 1,396.4us-gaap_SalesRevenueNet
Cost of sales                 668.3us-gaap_CostOfGoodsSold 545.1us-gaap_CostOfGoodsSold 493.8us-gaap_CostOfGoodsSold
Gross profit 328.0us-gaap_GrossProfit 307.7us-gaap_GrossProfit 330.7us-gaap_GrossProfit 306.3us-gaap_GrossProfit 304.0us-gaap_GrossProfit 212.0us-gaap_GrossProfit 222.1us-gaap_GrossProfit 211.5us-gaap_GrossProfit 1,272.7us-gaap_GrossProfit 949.6us-gaap_GrossProfit 902.6us-gaap_GrossProfit
Selling, general and administrative expenses                 999.7us-gaap_SellingGeneralAndAdministrativeExpense 723.6us-gaap_SellingGeneralAndAdministrativeExpense 663.3us-gaap_SellingGeneralAndAdministrativeExpense
Acquisition and integration costs                 6.4rcpc_BusinessCombinationAcquisitionandIntegrationRelatedCosts 25.4rcpc_BusinessCombinationAcquisitionandIntegrationRelatedCosts 0rcpc_BusinessCombinationAcquisitionandIntegrationRelatedCosts
Restructuring charges and other, net                 21.3us-gaap_RestructuringCharges 3.5us-gaap_RestructuringCharges 20.5us-gaap_RestructuringCharges
Operating income                 245.3us-gaap_OperatingIncomeLoss 197.1us-gaap_OperatingIncomeLoss 218.8us-gaap_OperatingIncomeLoss
Other expenses, net:                      
Interest expense                 84.4us-gaap_InterestExpense 78.6us-gaap_InterestExpense 85.3us-gaap_InterestExpense
Amortization of debt issuance costs                 5.5us-gaap_OtherAmortizationOfDeferredCharges 3.5us-gaap_OtherAmortizationOfDeferredCharges 3.4us-gaap_OtherAmortizationOfDeferredCharges
Loss on early extinguishment of debt       1.9us-gaap_GainsLossesOnExtinguishmentOfDebt       27.9us-gaap_GainsLossesOnExtinguishmentOfDebt 2.0us-gaap_GainsLossesOnExtinguishmentOfDebt 29.7us-gaap_GainsLossesOnExtinguishmentOfDebt 0us-gaap_GainsLossesOnExtinguishmentOfDebt
Foreign currency losses, net                 25.0us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 3.7us-gaap_ForeignCurrencyTransactionGainLossBeforeTax 2.8us-gaap_ForeignCurrencyTransactionGainLossBeforeTax
Miscellaneous, net                 1.2us-gaap_OtherNonoperatingIncomeExpense 1.0us-gaap_OtherNonoperatingIncomeExpense 1.2us-gaap_OtherNonoperatingIncomeExpense
Other expenses, net                 118.1us-gaap_NonoperatingIncomeExpense 116.5us-gaap_NonoperatingIncomeExpense 92.7us-gaap_NonoperatingIncomeExpense
Income from continuing operations before income taxes                 127.2us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 80.6us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 126.1us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Provision for income taxes                 81.2us-gaap_IncomeTaxExpenseBenefit 48.6us-gaap_IncomeTaxExpenseBenefit 44.8us-gaap_IncomeTaxExpenseBenefit
Income from continuing operations, net of taxes 4.1us-gaap_IncomeLossFromContinuingOperations [1],[2] 15.8us-gaap_IncomeLossFromContinuingOperations [1],[2] 15.9us-gaap_IncomeLossFromContinuingOperations [1],[2] 10.2us-gaap_IncomeLossFromContinuingOperations [1],[2] (7.1)us-gaap_IncomeLossFromContinuingOperations [3],[4],[5] 11.5us-gaap_IncomeLossFromContinuingOperations [3],[4],[5] 29.5us-gaap_IncomeLossFromContinuingOperations [3],[4],[5] (1.9)us-gaap_IncomeLossFromContinuingOperations [3],[4],[5] 46.0us-gaap_IncomeLossFromContinuingOperations 32.0us-gaap_IncomeLossFromContinuingOperations 81.3us-gaap_IncomeLossFromContinuingOperations
Income (loss) from discontinued operations, net of taxes 0.4us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity [6] 0.4us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity [6] 3.7us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity [6] (3.2)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity [6] (24.1)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (1.5)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (2.4)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (2.4)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 1.3us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (30.4)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (10.1)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
Net income 4.5us-gaap_NetIncomeLoss [1],[2] 16.2us-gaap_NetIncomeLoss [1],[2] 19.6us-gaap_NetIncomeLoss [1],[2] 7.0us-gaap_NetIncomeLoss [1],[2] (31.2)us-gaap_NetIncomeLoss [3],[4],[5] 10.0us-gaap_NetIncomeLoss [3],[4],[5] 27.1us-gaap_NetIncomeLoss [3],[4],[5] (4.3)us-gaap_NetIncomeLoss [3],[4],[5] 47.3us-gaap_NetIncomeLoss 1.6us-gaap_NetIncomeLoss 71.2us-gaap_NetIncomeLoss
Other comprehensive (loss) income :                      
Currency translation adjustment, net of tax                 (24.6)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax [7] (4.1)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax [7] (1.5)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax [7]
Amortization of pension related costs, net of tax                 4.5us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax [10],[8],[9] 7.7us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax [10],[8],[9] 9.4us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax [10],[11],[8],[9]
Pension re-measurement, net of tax                 (69.6)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax [12] 53.3us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax [12] (15.4)us-gaap_OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax [12]
Pension curtailment gain                 0us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax 0us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax 0.2us-gaap_OtherComprehensiveIncomeLossFinalizationOfPensionAndNonPensionPostretirementPlanValuationNetOfTax [11]
Revaluation of derivative financial instruments, net of tax                 (3.7)us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax [13],[14] 1.5us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax [13],[14] 0us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax [13]
Other comprehensive (loss) income                 (93.4)us-gaap_OtherComprehensiveIncomeLossNetOfTax [15] 58.4us-gaap_OtherComprehensiveIncomeLossNetOfTax [15] (7.3)us-gaap_OtherComprehensiveIncomeLossNetOfTax [15]
Total comprehensive (loss) income                 $ (46.1)us-gaap_ComprehensiveIncomeNetOfTax $ 60.0us-gaap_ComprehensiveIncomeNetOfTax $ 63.9us-gaap_ComprehensiveIncomeNetOfTax
[1] for the second and third quarter of 2014 were unfavorably impacted by foreign currency losses, net, of $7.2 million and $9.3 million, respectively, related to the required re-measurement of Revlon Venezuela's monetary assets and liabilities at June 30, 2014, and the results of unfavorable impacts of the revaluation of certain U.S. Dollar denominated intercompany payables during the third quarter of 2014. (See Note 1, "Description of Business and Summary of Significant Accounting Policies - Foreign Currency Translation" for further discussion on Venezuela currency restrictions and related devaluation).
[2] Income from continuing operations and net income for the first quarter of 2014 were unfavorably impacted by restructuring charges of $13.5 million related to the Integration Program, as well as $3.8 million of acquisition and integration costs related to the Colomer Acquisition (See Note 2, "Business Combinations," and Note 3, “Restructuring Charges”). Additionally, in the first quarter of 2014, the Company incurred a $1.9 million aggregate loss on early extinguishment of debt due to the February 2014 Term Loan Amendment. (See Note 11, “Long-Term Debt”).
[3] (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.
[4] (Loss) income 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”).
[5] (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 which was recorded in loss from discontinued operations, net of taxes.
[6] (Loss) income from discontinued operations includes the results of the Company's China operations (See Note 4, "Discontinued Operations").
[7] Net of tax benefit of $2.1 million, $3.3 million and $1.0 million for 2014, 2013 and 2012, respectively.
[8] This other comprehensive income component is included in the computation of net periodic benefit (income) costs. See Note 14, “Savings, Pension and Post-Retirement Benefits,” for additional information regarding net periodic benefit (income) costs.
[9] 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 14, “Savings Plan, Pension and Post-retirement Benefits,” for further discussion of the Company’s pension and other post-retirement plans.
[10] Net of tax expense of $0.1 million, $1.2 million and $1.0 million for 2014, 2013 and 2012, respectively.
[11] 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 2012. See Note 14, “Savings Plan, Pension and Post-retirement Benefits,” for further discussion of the Company’s pension and other post-retirement plans.
[12] Net of tax (benefit) expense of $(42.0) million, $33.5 million and $(7.2) million for 2014, 2013 and 2012, respectively.
[13] Net of tax (benefit) expense of $(2.3) million and $1.0 million for 2014 and 2013, respectively.
[14] (d) For 2014 and 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.
[15] See Note 17, “Accumulated Other Comprehensive Loss,” regarding the changes in the accumulated balances for each component of other comprehensive income (loss) during each of 2014, 2013 and 2012.