Supplemental Guarantor Information (Tables)

6 Months Ended

Jul. 01, 2012

Supplemental Guarantor Information [Abstract]

Supplemental Condensed Consolidating Balance Sheets

Supplemental Condensed Consolidating Balance Sheets

	July 1, 2012
	Issuer			Non- Guarantor Subsidiaries		Eliminations			Total
	(Unaudited) (In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	30,489		$	306,789	$	—		$	337,278
Receivables, net		141,397			181,175		—			322,572
Inventories, net		106,650			77,304		—			183,954
Deferred income taxes		15,737			4,336		—			20,073
Other current assets		9,715			11,298		—			21,013
Total current assets		303,988			580,902		—			884,890
Property, plant and equipment, less accumulated depreciation		134,174			153,628		—			287,802
Goodwill		242,808			100,987		—			343,795
Intangible assets, less accumulated amortization		75,055			68,458		—			143,513
Deferred income taxes		(3,473	)		22,601		—			19,128
Other long-lived assets		12,690			52,503		—			65,193
Investment in subsidiaries		1,356,804			—		(1,356,804	)		—
	$	2,122,046		$	979,079	$	(1,356,804	)	$	1,744,321
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	80,899		$	133,696	$	—		$	214,595
Accrued liabilities		57,397			67,016		—			124,413
Total current liabilities		138,296			200,712		—			339,008
Long-term debt		550,265			—		—			550,265
Postretirement benefits		33,135			96,286		—			129,421
Other long-term liabilities		23,539			4,288		—			27,827
Intercompany accounts		(40,861	)		40,861		—			—
Total stockholders’ equity		1,417,672			636,932		(1,356,804	)		697,800
	$	2,122,046		$	979,079	$	(1,356,804	)	$	1,744,321

	December 31, 2011
	Issuer			Non- Guarantor Subsidiaries		Eliminations			Total
	(In thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	92,586		$	290,130	$	—		$	382,716
Receivables, net		117,920			181,150		—			299,070
Inventories, net		125,168			76,975		—			202,143
Deferred income taxes		15,737			3,923		—			19,660
Other current assets		10,121			11,711		—			21,832
Total current assets		361,532			563,889		—			925,421
Property, plant and equipment, less accumulated depreciation		132,909			154,024		—			286,933
Goodwill		242,808			105,224		—			348,032
Intangible assets, less accumulated amortization		77,455			74,228		—			151,683
Deferred income taxes		(1,829	)		14,048		—			12,219
Other long-lived assets		13,666			50,166		—			63,832
Investment in subsidiaries		1,306,843			—		(1,306,843	)		—
	$	2,133,384		$	961,579	$	(1,306,843	)	$	1,788,120
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	94,647		$	132,924	$	—		$	227,571
Accrued liabilities		73,579			80,416		—			153,995
Total current liabilities		168,226			213,340		—			381,566
Long-term debt		550,926			—		—			550,926
Postretirement benefits		42,855			88,382		—			131,237
Other long-term liabilities		23,628			6,214		—			29,842
Intercompany accounts		(33,617	)		33,617		—			—
Total stockholders’ equity		1,381,366			620,026		(1,306,843	)		694,549
	$	2,133,384		$	961,579	$	(1,306,843	)	$	1,788,120

Supplemental Condensed Consolidating Statements of Operations and Comprehensive Income

Supplemental Condensed Consolidating Statements of Operations and Comprehensive Income (Unaudited)

	Three Months Ended July 1, 2012
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	272,477		$	271,689		$	(60,124	)	$	484,042
Cost of sales		(194,020	)		(198,225	)		60,124			(332,121	)
Gross profit		78,457			73,464			—			151,921
Selling, general and administrative expenses		(44,014	)		(33,917	)		—			(77,931	)
Research and development		(3,495	)		(11,534	)		—			(15,029	)
Amortization of intangibles		(1,153	)		(1,417	)		—			(2,570	)
Income from equity method investment		—			1,960			—			1,960
Operating income		29,795			28,556			—			58,351
Interest expense		(11,734	)		(768	)		—			(12,502	)
Interest income		14			197			—			211
Intercompany income (expense)		(942	)		942			—			—
Income (loss) from equity investment in subsidiaries		31,720			—			(31,720	)		—
Income (loss) from continuing operations before taxes		48,853			28,927			(31,720	)		46,060
Income tax benefit (expense)		(6,463	)		2,793			—			(3,670	)
Net income (loss)	$	42,390		$	31,720		$	(31,720	)	$	42,390
Comprehensive income (loss)	$	42,308		$	3,564		$	(31,720	)	$	14,152

	Three Months Ended July 3, 2011
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	281,225		$	302,918		$	(47,892	)	$	536,251
Cost of sales		(212,163	)		(215,366	)		47,892			(379,637	)
Gross profit		69,062			87,552			—			156,614
Selling, general and administrative expenses		(44,251	)		(40,129	)		—			(84,380	)
Research and development		(2,840	)		(11,690	)		—			(14,530	)
Amortization of intangibles		(820	)		(2,527	)		—			(3,347	)
Income from equity method investment		—			3,855			—			3,855
Operating income		21,151			37,061			—			58,212
Interest expense		(12,162	)		(586	)		—			(12,748	)
Interest income		29			127			—			156
Intercompany income (expense)		(13,004	)		13,004			—			—
Income (loss) from equity investment in subsidiaries		39,679			—			(39,679	)		—
Income (loss) from continuing operations before taxes		35,693			49,606			(39,679	)		45,620
Income tax expense		(812	)		(9,927	)		—			(10,739	)
Income (loss) from continuing operations		34,881			39,679			(39,679	)		34,881
Loss from discontinued operations, net of tax		(156	)		—			—			(156	)
Net income (loss)	$	34,725		$	39,679		$	(39,679	)	$	34,725
Comprehensive income (loss)	$	35,321		$	46,684		$	(39,679	)	$	42,326

	Six Months Ended July 1, 2012
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
				(In thousands)
Revenues	$	531,744		$	534,408		$	(117,819	)	$	948,333
Cost of sales		(379,405	)		(393,108	)		117,819			(654,694	)
Gross profit		152,339			141,300			—			293,639
Selling, general and administrative expenses		(90,937	)		(70,220	)		—			(161,157	)
Research and development		(7,078	)		(21,984	)		—			(29,062	)
Amortization of intangibles		(2,330	)		(3,475	)		—			(5,805	)
Income from equity method investment		—			4,701			—			4,701
Operating income		51,994			50,322			—			102,316
Interest expense		(23,638	)		(785	)		—			(24,423	)
Interest income		38			524			—			562
Intercompany income (expense)		(1,911	)		1,911			—			—
Income (loss) from equity investment in subsidiaries		49,959			—			(49,959	)		—
Income (loss) from continuing operations before taxes		76,442			51,972			(49,959	)		78,455
Income tax expense		(9,777	)		(2,013	)		—			(11,790	)
Net income (loss)	$	66,665		$	49,959		$	(49,959	)	$	66,665
Comprehensive income (loss)	$	64,939		$	34,073		$	(49,959	)	$	49,053

	Six Months Ended July 3, 2011
	Issuer			Non- Guarantor Subsidiaries			Eliminations			Total
	(In thousands)
Revenues	$	521,349		$	571,565		$	(95,035	)	$	997,879
Cost of sales		(388,902	)		(416,943	)		95,035			(710,810	)
Gross profit		132,447			154,622			—			287,069
Selling, general and administrative expenses		(83,818	)		(75,498	)		—			(159,316	)
Research and development		(5,650	)		(22,509	)		—			(28,159	)
Amortization of intangibles		(1,640	)		(5,386	)		—			(7,026	)
Income from equity method investment		—			7,717			—			7,717
Operating income		41,339			58,946			—			100,285
Interest expense		(23,944	)		(612	)		—			(24,556	)
Interest income		72			243			—			315
Intercompany income (expense)		(14,686	)		14,686			—			—
Income (loss) from equity investment in subsidiaries		55,653			—			(55,653	)		—
Income (loss) from continuing operations before taxes		58,434			73,263			(55,653	)		76,044
Income tax expense		(1,535	)		(17,610	)		—			(19,145	)
Income (loss) from continuing operations		56,899			55,653			(55,653	)		56,899
Loss from discontinued operations, net of tax		(284	)		—			—			(284	)
Net income (loss)	$	56,615		$	55,653		$	(55,653	)	$	56,615
Comprehensive income (loss)	$	57,211		$	85,415		$	(55,653	)	$	86,973

Supplemental Condensed Consolidating Statements of Cash Flows

Supplemental Condensed Consolidating Statements of Cash Flows (Unaudited)

	Six Months Ended July 1, 2012
	Issuer			Non- Guarantor Subsidiaries			Total
	(In thousands)
Net cash provided by (used for) operating activities	$	(5,586	)	$	36,148		$	30,562
Cash flows from investing activities:
Capital expenditures		(9,471	)		(12,282	)		(21,753	)
Cash used to acquire businesses, net of cash acquired		(587	)		—			(587	)
Proceeds from disposal of tangible assets		19			334			353
Net cash used for investing activities		(10,039	)		(11,948	)		(21,987	)
Cash flows from financing activities:
Payments under share repurchase program		(50,000	)		—			(50,000	)
Cash dividends paid		(4,712	)		—			(4,712	)
Payments under borrowing arrangements		(600	)		—			(600	)
Proceeds from exercise of stock options		2,198			—			2,198
Tax benefit related to share-based compensation		3,909			—			3,909
Proceeds from settlement of derivatives		2,733			—			2,733
Net cash used for financing activities		(46,472	)		—			(46,472	)
Effect of currency exchange rate changes on cash and cash equivalents		—			(7,541	)		(7,541	)
Increase (decrease) in cash and cash equivalents		(62,097	)		16,659			(45,438	)
Cash and cash equivalents, beginning of period		92,586			290,130			382,716
Cash and cash equivalents, end of period	$	30,489		$	306,789		$	337,278

	Six Months Ended July 3, 2011
				Non-
				Guarantor
	Issuer			Subsidiaries			Total
				(In thousands)
Net cash provided by (used for) operating activities	$	(14,436	)	$	45,586		$	31,150
Cash flows from investing activities:
Cash used to acquire businesses, net of cash acquired		(52,418	)		—			(52,418	)
Capital expenditures		(9,615	)		(5,268	)		(14,883	)
Proceeds from disposal of tangible assets		1,201			21			1,222
Net cash used for investing activities		(60,832	)		(5,247	)		(66,079	)
Cash flows from financing activities:
Cash dividends paid		(4,718	)		—			(4,718	)
Debt issuance costs		(3,296	)		—			(3,296	)
Tax benefit related to share-based compensation		1,796			—			1,796
Proceeds from exercises of stock options		4,554			—			4,554
Intercompany capital contributions		4,158			(4,158	)		—
Net cash provided by (used for) financing activities		2,494			(4,158	)		(1,664	)
Effect of currency exchange rate changes on cash and cash equivalents		—			7,252			7,252
Increase (decrease) in cash and cash equivalents		(72,774	)		43,433			(29,341	)
Cash and cash equivalents, beginning of period		173,699			184,954			358,653
Cash and cash equivalents, end of period	$	100,925		$	228,387		$	329,312