Guarantor Information (Tables)

9 Months Ended

Sep. 28, 2013



	September 28, 2013
(In millions)	Parent		Guarantor		Non-Guarantors		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	0.2	$	125.8	$	—		$	126.0
Accounts receivable, net	—		—		187.1		—			187.1
Inventories	—		—		353.1		—			353.1
Deferred income tax benefits, net	4.8		46.8		59.6		(0.1		)	111.1
Non-trade amounts receivable, net	—		7.0		40.4		—			47.4
Intercompany receivables	6.1		285.1		402.5		(693.7		)	—
Prepaid expenses and other current assets	2.0		58.8		80.9		(110.8		)	30.9
Total current assets	12.9		397.9		1,249.4		(804.6		)	855.6
Deferred income tax benefits, net	95.8		179.7		82.9		—			358.4
Property, plant and equipment, net	—		36.5		254.5		—			291.0
Long-term receivables, net	—		0.1		23.6		—			23.7
Trademarks and tradenames	—		—		131.8		—			131.8
Other intangible assets, net	—		—		3.7		—			3.7
Goodwill	—		2.9		182.8		—			185.7
Investments in subsidiaries	1,592.4		2,337.5		—		(3,929.9		)	—
Intercompany notes receivable	62.1		591.0		1,758.4		(2,411.5		)	—
Other assets, net	5.8		9.9		42.7		(28.1		)	30.3
Total assets	$	1,769.0	$	3,555.5	$	3,729.8	$	(7,174.1	)	$	1,880.2
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	$	0.1	$	1.6	$	107.8	$	—		$	109.5
Short-term borrowings and current portion of long-term debt and capital lease obligations	155.5		—		137.3		—			292.8
Intercompany payables	258.6		397.8		37.3		(693.7		)	—
Accrued liabilities	104.3		76.9		294.6		(110.9		)	364.9
Total current liabilities	518.5		476.3		577.0		(804.6		)	767.2
Long-term debt and capital lease obligations	602.7		—		16.3		—			619.0
Intercompany notes payable	349.2		1,409.1		653.2		(2,411.5		)	—
Other liabilities	26.5		38.6		184.9		(28.1		)	221.9
Shareholders' equity	272.1		1,631.5		2,298.4		(3,929.9		)	272.1
Total liabilities and shareholders' equity	$	1,769.0	$	3,555.5	$	3,729.8	$	(7,174.1	)	$	1,880.2

Condensed Consolidating Balance Sheet



	December 29, 2012
(In millions)	Parent		Guarantor		Non-Guarantors		Eliminations			Total
ASSETS
Cash and cash equivalents	$	—	$	0.2	$	119.6	$	—		$	119.8
Accounts receivable, net	—		—		173.4		—			173.4
Inventories	—		—		313.9		—			313.9
Deferred income tax benefits, net	4.8		46.8		43.3		—			94.9
Non-trade amounts receivable, net	—		3.2		35.8		—			39.0
Intercompany receivables	152.0		378.0		415.4		(945.4		)	—
Prepaid expenses and other current assets	1.4		65.8		111.0		(152.7		)	25.5
Total current assets	158.2		494.0		1,212.4		(1,098.1		)	766.5
Deferred income tax benefits, net	82.9		174.2		102.0		—			359.1
Property, plant and equipment, net	—		32.4		266.4		—			298.8
Long-term receivables, net	—		0.1		24.7		—			24.8
Trademarks and tradenames	—		—		138.4		—			138.4
Other intangible assets, net	—		—		5.0		—			5.0
Goodwill	—		2.9		190.0		—			192.9
Investments in subsidiaries	1,417.0		2,195.0		—		(3,612.0		)	—
Intercompany notes receivable	81.5		578.2		1,677.4		(2,337.1		)	—
Other assets, net	4.5		7.9		86.2		(62.3		)	36.3
Total assets	$	1,744.1	$	3,484.7	$	3,702.5	$	(7,109.5	)	$	1,821.8
LIABILITIES AND SHAREHOLDERS' EQUITY
Accounts payable	$	—	$	2.6	$	152.2	$	—		$	154.8
Short-term borrowings and current portion of long-term debt and capital lease obligations	37.0		—		166.4		—			203.4
Intercompany payables	343.4		556.3		45.7		(945.4		)	—
Accrued liabilities	116.4		96.7		275.9		(152.7		)	336.3
Total current liabilities	496.8		655.6		640.2		(1,098.1		)	694.5
Long-term debt and capital lease obligations	396.4		—		18.0		—			414.4
Intercompany notes payable	346.9		1,330.5		659.7		(2,337.1		)	—
Other liabilities	24.9		77.3		193.9		(62.3		)	233.8
Shareholders' equity	479.1		1,421.3		2,190.7		(3,612.0		)	479.1
Total liabilities and shareholders' equity	$	1,744.1	$	3,484.7	$	3,702.5	$	(7,109.5	)	$	1,821.8

Consolidating Statement of Income



	13 Weeks Ended September 28, 2013
(In millions)	Parent			Guarantor		Non-Guarantors		Eliminations			Total
Net sales	$	—		$	—	$	606.0	$	(2.8	)	$	603.2
Other revenue	—			34.9		4.5		(39.4		)	—
Cost of products sold	—			4.5		235.0		(39.9		)	199.6
Gross margin	—			30.4		375.5		(2.3		)	403.6
Delivery, sales and administrative expense	3.9			23.1		300.7		(2.3		)	325.4
Re-engineering and impairment charges	—			—		2.7		—			2.7
Gains on disposal of assets, including insurance recoveries	—			—		0.9		—			0.9
Operating (loss) income	(3.9		)	7.3		73.0		—			76.4
Interest income	0.1			7.4		2.3		(9.2		)	0.6
Interest expense	9.4			5.1		5.0		(9.2		)	10.3
Income from equity investments in subsidiaries	58.5			52.6		—		(111.1		)	—
Other expense	0.1			—		1.4		—			1.5
Income before income taxes	45.2			62.2		68.9		(111.1		)	65.2
(Benefit) provision for income taxes	(4.7		)	4.7		15.3		—			15.3
Net income	$	49.9		$	57.5	$	53.6	$	(111.1	)	$	49.9
Comprehensive income	$	58.1		$	65.7	$	49.8	$	(115.5	)	$	58.1

Consolidating Statement of Income



	13 Weeks Ended September 29, 2012
(In millions)	Parent			Guarantor			Non-Guarantors		Eliminations			Total
Net sales	$	—		$	—		$	597.1	$	(2.7	)	$	594.4
Other revenue	—			22.9			5.5		(28.4		)	—
Cost of products sold	—			5.5			225.1		(31.1		)	199.5
Gross margin	—			17.4			377.5		—			394.9
Delivery, sales and administrative expense	4.1			19.0			294.9		—			318.0
Re-engineering and impairment charges	—			—			2.0		—			2.0
Gains on disposal of assets, including insurance recoveries	—			0.3			—		—			0.3
Operating (loss) income	(4.1		)	(1.3		)	80.6		—			75.2
Interest income	0.4			7.7			1.2		(8.7		)	0.6
Interest expense	7.1			4.9			5.2		(8.7		)	8.5
Income from equity investments in subsidiaries	54.4			52.1			—		(106.5		)	—
Income before income taxes	43.6			53.6			76.6		(106.5		)	67.3
(Benefit) provision for income taxes	(3.9		)	(0.5		)	24.2		—			19.8
Net income	$	47.5		$	54.1		$	52.4	$	(106.5	)	$	47.5
Comprehensive income	$	83.5		$	89.8		$	62.0	$	(151.8	)	$	83.5

Consolidating Statement of Income



	39 Weeks Ended September 28, 2013
(In millions)	Parent			Guarantor		Non-Guarantors		Eliminations			Total
Net sales	$	—		$	—	$	1,959.6	$	(5.1	)	$	1,954.5
Other revenue	—			89.7		13.3		(103.0		)	—
Cost of products sold	—			13.3		735.6		(100.5		)	648.4
Gross margin	—			76.4		1,237.3		(7.6		)	1,306.1
Delivery, sales and administrative expense	11.3			58.0		961.5		(7.6		)	1,023.2
Re-engineering and impairment charges	—			—		7.1		—			7.1
Gains on disposal of assets, including insurance recoveries	—			—		1.1		—			1.1
Operating (loss) income	(11.3		)	18.4		269.8		—			276.9
Interest income	0.4			23.5		5.0		(27.0		)	1.9
Interest expense	25.0			14.4		17.1		(27.0		)	29.5
Income from equity investments in subsidiaries	207.5			191.6		—		(399.1		)	—
Other expense	—			—		5.0		—			5.0
Income before income taxes	171.6			219.1		252.7		(399.1		)	244.3
(Benefit) provision for income taxes	(12.9		)	11.6		61.1		—			59.8
Net income	$	184.5		$	207.5	$	191.6	$	(399.1	)	$	184.5
Comprehensive income	$	150.8		$	175.9	$	162.2	$	(338.1	)	$	150.8

Consolidating Statement of Income



	39 Weeks Ended September 29, 2012
(In millions)	Parent			Guarantor		Non-Guarantors		Eliminations			Total
Net sales	$	—		$	—	$	1,878.3	$	(5.5	)	$	1,872.8
Other revenue	—			74.9		14.0		(88.9		)	—
Cost of products sold	—			14.0		699.7		(94.4		)	619.3
Gross margin	—			60.9		1,192.6		—			1,253.5
Delivery, sales and administrative expense	11.0			46.1		929.0		—			986.1
Re-engineering and impairment charges	—			—		4.0		—			4.0
Impairment of goodwill and intangible assets	—			—		76.9		—			76.9
Gains on disposal of assets, including insurance recoveries	—			0.5		7.5		—			8.0
Operating (loss) income	(11.0		)	15.3		190.2		—			194.5
Interest income	1.3			23.2		3.6		(26.2		)	1.9
Interest expense	21.2			14.7		17.3		(26.2		)	27.0
Income from equity investments in subsidiaries	138.3			119.9		—		(258.2		)	—
Other expense	—			—		0.1		—			0.1
Income before income taxes	107.4			143.7		176.4		(258.2		)	169.3
(Benefit) provision for income taxes	(11.1		)	5.7		56.2		—			50.8
Net income	$	118.5		$	138.0	$	120.2	$	(258.2	)	$	118.5
Comprehensive income	$	139.9		$	158.7	$	113.1	$	(271.8	)	$	139.9

Condensed Consolidating Statement of Cash Flows



	39 Weeks Ended September 28, 2013
(In millions)	Parent			Guarantor			Non-Guarantors			Eliminations			Total
Operating Activities:
Net cash (used in) provided by operating activities	$	(43.3	)	$	12.6		$	181.6		$	(24.9	)	$	126.0
Investing Activities:
Capital expenditures	—			(10.0		)	(32.9		)	—			(42.9		)
Proceeds from disposal of property, plant and equipment	—			—			8.4			—			8.4
Net intercompany loans	—			(73.4		)	(96.4		)	169.8			—
Net cash used in investing activities	—			(83.4		)	(120.9		)	169.8			(34.5		)
Financing Activities:
Dividend payments to shareholders	(84.9		)	—			—			—			(84.9		)
Dividend payments to parent	—			—			(36.2		)	36.2			—
Net proceeds from issuance of senior notes	200.0			—			—			—			200.0
Proceeds from exercise of stock options	18.9			—			—			—			18.9
Repurchase of common stock	(303.7		)	—			—			—			(303.7		)
Repayment of capital lease obligations	—			—			(1.9		)	—			(1.9		)
Net change in short-term debt	118.5			—			(31.2		)	—			87.3
Debt issuance costs	(2.1		)	—			—			—			(2.1		)
Excess tax benefits from share-based payment arrangements	13.6			—			—			—			13.6
Net intercompany borrowings	83.0			70.8			27.3			(181.1		)	—
Net cash provided by (used in) financing activities	43.3			70.8			(42.0		)	(144.9		)	(72.8		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(12.5		)	—			(12.5		)
Net change in cash and cash equivalents	—			—			6.2			—			6.2
Cash and cash equivalents at beginning of year	—			0.2			119.6			—			119.8
Cash and cash equivalents at end of period	$	—		$	0.2		$	125.8		$	—		$	126.0

Condensed Consolidating Statement of Cash Flows



	39 Weeks Ended September 29, 2012
	Parent						Guarantor						Non-Guarantors						Eliminations						Total
(In millions)	Previously Reported			As Revised			Previously Reported			As Revised			Previously Reported			As Revised			Previously Reported			As Revised
Operating Activities:
Net cash provided by (used in) operating activities	$	31.5		$	(31.2	)	$	15.6		$	(42.0	)	$	161.8		$	282.2		$	(97.4	)	$	(97.5	)	$	111.5
Investing Activities:
Capital expenditures	—			—			(7.0		)	(7.0		)	(44.0		)	(44.0		)	—			—			(51.0		)
Proceeds from disposal of property, plant and equipment	—			—			0.3			0.3			9.5			9.5			—			—			9.8
Net intercompany loans	—			—			—			(8.5		)	—			(224.9		)	—			233.4			—
Net cash used in investing activities	—			—			(6.7		)	(15.2		)	(34.5		)	(259.4		)	—			233.4			(41.2		)
Financing Activities:
Dividend payments to shareholders	(57.5		)	(57.5		)	—			—			—			—			—			—			(57.5		)
Dividend payments to parent	—			—			—			—			(68.9		)	(68.9		)	68.9			68.9			—
Proceeds from exercise of stock options	9.7			9.7			—			—			—			—			—			—			9.7
Repurchase of common stock	(104.3		)	(104.3		)	—			—			—			—			—			—			(104.3		)
Repayment of capital lease obligations	—			—			—			—			(1.8		)	(1.8		)	—			—			(1.8		)
Net change in short-term debt	61.0			61.0			—			—			(13.6		)	(13.6		)	—			—			47.4
Excess tax benefits from share-based payment arrangements	11.9			11.9			—			—			—			—			—			—			11.9
Net intercompany borrowings	47.7			110.4			(11.3		)	54.8			(64.9		)	39.6			28.5			(204.8		)	—
Net cash (used in) provided by financing activities	(31.5		)	31.2			(11.3		)	54.8			(149.2		)	(44.7		)	97.4			(135.9		)	(94.6		)
Effect of exchange rate changes on cash and cash equivalents	—			—			0.8			0.8			(0.9		)	(0.9		)	—			—			(0.1		)
Net change in cash and cash equivalents	—			—			(1.6		)	(1.6		)	(22.8		)	(22.8		)	—			—			(24.4		)
Cash and cash equivalents at beginning of year	—			—			1.9			1.9			136.3			136.3			—			—			138.2
Cash and cash equivalents at end of period	$	—		$	—		$	0.3		$	0.3		$	113.5		$	113.5		$	—		$	—		$	113.8