XML 72 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Statement Of Cash Flows [Abstract]    
Net earnings available to common stockholders from continuing operations $ 71.8 $ 0.7
Adjustments to reconcile net earnings to net cash used in operating activities from continuing operations:    
Depreciation and amortization 68.3 71.9
Share-based incentive compensation 14.5 7.6
Profit sharing expense 9.5 9.9
Costs related to the acquisition and integration of Diversey 0.9 0.4
Amortization of senior debt related items and other 2.4 4.3
Non-cash change in forward contracts (2.5) 0.2
Loss on debt redemption 0.4 32.3
Provisions for bad debt 1.7 2.4
Gain from Claims Settlement (21.1)  
Provisions for inventory obsolescence 4.1 1.9
Deferred taxes, net (1.1) (38.8)
Net loss (gain) on disposals of property and equipment and other 0.1 (0.2)
Changes in operating assets and liabilities:    
Trade receivables, net (9.1) 4.6
Inventories (91.9) (79.6)
Other assets (23.3) (62.0)
Accounts payable 53.4 99.5
Settlement agreement and related accrued interest (929.7) 12.1
Other liabilities (80.9) (105.0)
Net cash used in operating activities from continuing operations (932.5) (37.8)
Cash flows from investing activities from continuing operations:    
Capital expenditures for property and equipment (28.4) (25.5)
Proceeds from sales of property and equipment 1.4 1.3
Net cash used in investing activities from continuing operations (27.0) (24.2)
Cash flows from financing activities from continuing operations:    
Net proceeds from short-term borrowings 603.4 37.7
Payments of long-term debt (200.4) (428.0)
Proceeds from long-term debt   425.0
Dividends paid on common stock (28.4) (25.4)
Acquisition of common stock for tax withholding obligations under our 2005 contingent stock plan (2.6) (3.9)
Payments of debt issuance costs   (7.7)
Payments for debt extinguishment costs   (26.2)
Other financing activities   (0.5)
Net cash provided by (used in) financing activities from continuing operations 372.0 (29.0)
Effect of foreign currency exchange rate changes on cash and cash equivalents 8.2 39.0
Net change in cash and cash equivalents from continuing operations (579.3) (52.0)
Net cash used in operating activities from discontinued operations   (1.5)
Net cash used in investing activities from discontinued operations   (0.3)
Net cash used in financing activities from discontinued operations      
Net change in cash and cash equivalents from discontinued operations   (1.8)
Cash and cash equivalents:    
Balance, beginning of period 992.4 679.6
Net change during the period (579.3) (53.8)
Balance, end of period 413.1 625.8
Supplemental Cash Flow Information:    
Interest payments, net of amounts capitalized 519.1 109.9
Income tax payments 14.7 31.2
Stock appreciation rights payments (less amounts included in restructuring payments) 14.2 17.5
Restructuring payments 26.6 24.4
Non-cash items:    
Transfers of shares of our common stock from treasury as part of our 2013 and 2012 profit-sharing plan contributions 33.2 18.7
Transfer of shares of our common stock reserved as part of the funding of the Settlement agreement $ 1.8